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Braggart
Nov 10, 2011

always thank the rock hider

ShaneMacGowansTeeth posted:

I, to my own chagrin, once voted tactically because I thought voting Labour was stupid and the Tories won. The next year, I said to hell with tactical, voted Labour in a seat they had never won and Labour went and bloody did it. So loving vote Labour if you think you should or shouldn't

I voted Lib Dem in Diane Abbott's constituency because I didn't know anything about her and I hated New Labour. :clegg: -mania got me good. Thankfully Diane's majority is untouchable :D

And because I later moved away, I never got another chance to vote for her :(

Edit: My fourth snipe today, what the hell?

321 is a pleasing sequence of numerals.

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PittTheElder
Feb 13, 2012

:geno: Yes, it's like a lava lamp.

Is there going to be a speaker election before Parliament dissolves? Bercow is stepping down tomorrow (today?), right?

e: just noticed the gang tags that got handed out :lol:

Looke
Aug 2, 2013

Julio Cruz posted:

OK this is my new favourite - Bristol North West

Lab 27400
Con 22639
LD 2814

and of course it wants you to vote for the Libs

e: and it's not even one of the Lexiteer Labour MPs, it's some melt called Darren Jones

This is my MP

Pretty sure he said he was going to vote against the GE but don’t think I saw his name on the list lol

That said, better than Tory gently caress Charlotte Leslie

Braggart
Nov 10, 2011

always thank the rock hider

PittTheElder posted:

Is there going to be a speaker election before Parliament dissolves? Bercow is stepping down tomorrow (today?), right?

e: just noticed the gang tags that got handed out :lol:

Paid political advertising for the Pissflaps Party, led by a person who legally changed their name to Not Corbyn. Flagship policy: pedantry classes in all schools.

The good kind of Pissflaps party is the kind where he's not invited :toot:

coffeetable
Feb 5, 2006

TELL ME AGAIN HOW GREAT BRITAIN WOULD BE IF IT WAS RULED BY THE MERCILESS JACKBOOT OF PRINCE CHARLES

YES I DO TALK TO PLANTS ACTUALLY

Comrade Fakename posted:

If by “we” you mean Momentum, then it’s actually me who’s running the investigation. And the stuff in this thread about Best for Britain is better than most of the stuff we’ve got so far (I don’t want to slag anyone off, everyone’s volunteering and trying their best). So if anyone wants to summarise what’s found in this thread (I don’t understand what the code stuff is about), I’ll make sure it goes to the right people.

If you open Chrome Developer Tools when you stick your postcode into getvoting.org, you'll see a request for a file containing the recommendations. That's this file here, and it's keyed by constituency code. Meanwhile the Excel file here has the 2017 results, again keyed by constituency code. My script grabs both files, cleans them up, then nails them together to see which party's constituencies have which recommendations.



Each row on this chart corresponds to a different party's 2017 constituencies. Each column corresponds to a different 2019 recommendation. So you can read off from the 'Labour' column that only Labour constituencies have Labour recommendations, while the Lib Dem recomendations come from all major parties.

mfcrocker
Jan 31, 2004



Hot Rope Guy
There was a post a bunch of pages back asking how worthwhile getting involved with Momentum was. They had their big reveal of their campaigning strategy tonight and somehow they're looking to go bigger than 2017.

I think unless all your Momentum branches are poo poo for miles around, it's worth chucking your lot in with them if you want to contribute to the ground game.

Braggart
Nov 10, 2011

always thank the rock hider
The Lib Dems probably thought they were being subtle and clever by not recommending people vote Lib Dem in all Labour-held constituencies too.

Only the Lib Dems can beat the Tories in Islington North!

coffeetable
Feb 5, 2006

TELL ME AGAIN HOW GREAT BRITAIN WOULD BE IF IT WAS RULED BY THE MERCILESS JACKBOOT OF PRINCE CHARLES

YES I DO TALK TO PLANTS ACTUALLY

Comrade Fakename posted:

If by “we” you mean Momentum, then it’s actually me who’s running the investigation. And the stuff in this thread about Best for Britain is better than most of the stuff we’ve got so far (I don’t want to slag anyone off, everyone’s volunteering and trying their best). So if anyone wants to summarise what’s found in this thread (I don’t understand what the code stuff is about), I’ll make sure it goes to the right people.

Something I've just noticed is that file has a ShowMRP field, and when it's zero - when no MRP prediction is shown - all the recommendations are Lib Dem or None. That might be your smoking gun, but it's too late for me to check programmatically.

Guavanaut
Nov 27, 2009

Looking At Them Tittys
1969 - 1998



Toilet Rascal

Braggart posted:

Yeah but Bercow bought a Christmas tree and a washing machine! Who's the real greedy corrupt traitor here, hmmm? :thunk:
Think of all the washerwomen he automated out of work.

Braggart posted:

I voted Lib Dem in Diane Abbott's constituency because I didn't know anything about her and I hated New Labour. :clegg: -mania got me good. Thankfully Diane's majority is untouchable :D

And because I later moved away, I never got another chance to vote for her :(

Edit: My fourth snipe today, what the hell?

321 is a pleasing sequence of numerals.
A shameful post in the UKMT.

You got 3-2-1 and didn't post

Communist Thoughts
Jan 7, 2008

Our war against free speech cannot end until we silence this bronze beast!


Tenebrais posted:

That URL tells quite a story about how that article has developed.

also i pasted it to my friend in discord and it comes up with the original headline

Firos
Apr 30, 2007

Staying abreast of the latest developments in jam communism



https://twitter.com/anncoffey_mp/status/1189598735208189954?s=20

So sad :qq:

Angepain
Jul 13, 2012

what keeps happening to my clothes

coffeetable posted:

Something I've just noticed is that file has a ShowMRP field, and when it's zero - when no MRP prediction is shown - all the recommendations are Lib Dem or None. That might be your smoking gun, but it's too late for me to check programmatically.

not to be confused with the ShowMRLP field, which activates a recommendation to write in Lord Flingleflar Bibbley Wibbley

mehall
Aug 27, 2010


If anyone does want to suggest a tactical voting site to any friends, https://tactical.vote seems to be not full of poo poo, and displays the actual 2017 result alongside it's reccomendation.
You can also easily view the full A-Z list of constituencies, and is the easiest URL to remember.

HopperUK
Apr 29, 2007

Why would an ambulance be leaving the hospital?

mehall posted:

If anyone does want to suggest a tactical voting site to any friends, https://tactical.vote seems to be not full of poo poo, and displays the actual 2017 result alongside it's reccomendation.
You can also easily view the full A-Z list of constituencies, and is the easiest URL to remember.

I just can't do it. I can't vote Lib Dem. Uggh.

Jaeluni Asjil
Apr 18, 2018

Sorry I thought you were a landlord when I gave you your old avatar!
JLM remove campaign support from Labour.

So a group which you can join without being Jewish and without being in the Labour party won't campaign for Labour except for Ruth Smeeth and one or two others.


https://www.theguardian.com/politics/2019/oct/31/jewish-group-removes-campaigning-support-for-labour-in-election

quote:

The Jewish Labour Movement (JLM) has withdrawn campaigning support for Labour in the upcoming general election in protest at its handling of antisemitism cases.

As one of the oldest socialist societies affiliated to Labour, the group regularly sent out activists to support candidates across the country before voters went to the polls.

However, for what is believed to be the first time in its 100-year history, it will not organise members to head out to constituencies and instead only support “exceptional candidates”, such as its parliamentary chair, Ruth Smeeth, and other MPs it views as having been supportive.

A statement released by the organisation said: “We will not be campaigning unless in exceptional circumstances and for exceptional candidates, like our parliamentary chair Ruth Smeeth, and members of the parliamentary Labour party who’ve been unwavering in their support of us. We will not be giving endorsements to candidates in non-Labour-held seats.”

JLM credits its campaigning work as securing Labour wins in Bury South in 2017 and 2015, Leeds North West in 2017, holding Hampstead and Kilburn in 2015 and winning Hornsey back in 2015 from the Liberal Democrat minister Lynne Featherstone.

The organisation, which has 2,500 members, blames the Labour leader, Jeremy Corbyn, for allowing a “culture of antisemitism to emerge and fester” within the party.

The JLM’s stand comes after the organisation’s honorary president, Dame Louise Ellman, along with the former parliamentary chair, Luciana Berger, left the party citing antisemitic abuse and bullying.

Its statement added: “When two accomplished and dedicated Jewish Labour MPs no longer see a place for themselves in the Labour party, it’s clear that the party has lost its way.”

It said the effective strike does not mean the group no longer supports Labour’s policies and historic values, or that they want to see Boris Johnson or the Liberal Democrat leader, Jo Swinson, as prime minister.

“The Jewish Labour Movement has a long and proud history of activism in the Labour party and the wider Labour movement and 2020 marks our 100th anniversary of affiliation to the Labour party,” it said.

“This crisis of antisemitism in the Labour party stems from a failure of leadership from Jeremy Corbyn. When the answer has been to take swift, decisive action, the reality has been equivocation and token gestures.”

At JLM’s annual general meeting in April, its members unanimously adopted a policy that declared Corbyn to be “unfit to be prime minister”. There had been a discussion about disaffiliation but this was voted down in meetings held in London and Manchester.

Labour has said it is taking decisive and robust action against antisemitism and Corbyn has said it has no place in society.


Why don't Graun ever open comments on these kind of articles?

I was with one of our Corbyn-supporting Jewish members for several hours yesterday and he is sick of all these accusations.

MrFlibble
Nov 28, 2007

by Jeffrey of YOSPOS
Fallen Rib

HopperUK posted:

I just can't do it. I can't vote Lib Dem. Uggh.

I hate lib dems and their voters at an equal or greater amount than I hate conservatives and their voters. The fact that they have been suckered in by "STOP BREXIT AT ALL COSTS" actually makes me hate them more, not less. The small solace I take from the inevitable hellscape we find ourselves in is that the FBPE types are getting hosed as well.

Drone_Fragger
May 9, 2007


Just vote Lib Dem in all constituencies, as long as you have been kicked in the head by a horse or stepped on by a passing elephant. Otherwise vote labour.

Darth Walrus
Feb 13, 2012
https://twitter.com/wallaceme/status/1189662846818369536?s=21

lol Lib Dems.

God, I hope the CUK poison has infected them nice and deep.

Angrymog
Jan 30, 2012

Really Madcats

Bardeh posted:

loving hell it sucks living in such a safe Tory seat. Tom Tugendhat is my MP and everyone likes to suck him off on all the local Facebook groups that I'm a part of, which is the best bellweather I have. :(

I thought Tonbridge and Malling was Tracey Crouch?

Tugendhat can't be worse than Gordon loving Henderson, though.

Jose
Jul 24, 2007

Adrian Chiles is a broadcaster and writer

i don't know how he finds the worst of FBPE twitter but i'[m glad he does and i follow him

WhatEvil
Jun 6, 2004

Can't get no luck.

HAHAHA look at the loving small print on this.

https://twitter.com/bathnesld/status/1189648562080112640?s=20

Tarnop
Nov 25, 2013

Pull me out

Comrades, I'm pleased to announce that episode 1 of Podcasting is Praxis is now up on YouTube.

https://youtu.be/-CF92MyaoaY

This was motivated by a desire to provide an accessible version to those with impaired hearing. I had YouTube generate subtitles and then manually edited them for, variously, Scottish accents, esoteric swearing, and goons yelling over each other.

I'm hoping to average an episode every day or two until we're caught up, after which I'll try to get new episodes up a day after the podcast episode is available.

We can have a custom URL instead of a string of gibberish if we get over a 100 subs and of course our visibility will be increased too, so I'd love it if you'd do a subscribe.

Thanks!

Tarnop fucked around with this message at 03:27 on Oct 31, 2019

Ms Adequate
Oct 30, 2011

Baby even when I'm dead and gone
You will always be my only one, my only one
When the night is calling
No matter who I become
You will always be my only one, my only one, my only one
When the night is calling



Tarnop posted:

Comrades, I'm pleased to announce that episode 1 of Podcasting is Praxis is now up on YouTube.

https://youtu.be/-CF92MyaoaY

This was motivated by a desire to provide an accessible version to those with impaired hearing. I had YouTube generate subtitles and then manually edited them for, variously, Scottish accents, esoteric swearing, and goons yelling over each other.

I'm hoping to average an episode every day or two until we're caught up, after which I'll try to get new episodes up a day after the podcast episode is available.

We can have a custom URL instead of a string of gibberish if we get over a 100 subs and of course our visibility will be increased too, so I'd love it if you'd do a subscribe.

Thanks!

Excellent news! Very pleased to see the 'cast is working to help ensure accessibility. You're good people Tarnop :unsmith:

Alctel
Jan 16, 2004

I love snails



That... that's incredible

Trickjaw
Jun 23, 2005
Nadie puede dar lo que no tiene



Sit down chaps, your sides may split. Jess Phillip's esq. MP DDS OMG wants crowdfund her re-election. I hope she gets just enough for the national Express back to Brum.

Azza Bamboo
Apr 7, 2018


THUNDERDOME LOSER 2021
Stretch goals: Jessflips will run for party leader

Pilchenstein
May 17, 2012

So your plan is for half of us to die?

Hot Rope Guy
Cheers, absolute masterpiece that is :v:

OwlFancier
Aug 22, 2013

I'm wondering if this lib dem thing might not put people off voting for them if literally every piece of advertising they put out is transparently lying :v:

Nothingtoseehere
Nov 11, 2010


Labour's up to 400k In donations now, :getin:

Azza Bamboo
Apr 7, 2018


THUNDERDOME LOSER 2021
Just a reminder that we stop once we reach 19.5 million.

Braggart
Nov 10, 2011

always thank the rock hider

Guavanaut posted:

A shameful post in the UKMT.

You got 3-2-1 and didn't post


I'm afraid I have no idea who or what that is :D

Braggart
Nov 10, 2011

always thank the rock hider

OwlFancier posted:

I'm wondering if this lib dem thing might not put people off voting for them if literally every piece of advertising they put out is transparently lying :v:

Winning here! :smug:

A Buttery Pastry
Sep 4, 2011

Delicious and Informative!
:3:

coffeetable posted:

If you open Chrome Developer Tools when you stick your postcode into getvoting.org, you'll see a request for a file containing the recommendations. That's this file here, and it's keyed by constituency code. Meanwhile the Excel file here has the 2017 results, again keyed by constituency code. My script grabs both files, cleans them up, then nails them together to see which party's constituencies have which recommendations.



Each row on this chart corresponds to a different party's 2017 constituencies. Each column corresponds to a different 2019 recommendation. So you can read off from the 'Labour' column that only Labour constituencies have Labour recommendations, while the Lib Dem recomendations come from all major parties.
This incidentally doesn't match at all the graphic in the Guardian article - which shows Labour getting 66 extra MPs from tactical voting. Unless the assumption is that Remainer Tories should switch to LibDem to pull the Labour candidate over the line in Tory/Lab marginals? Which would be a weird form of voting, even for a LibDem.

Nothingtoseehere
Nov 11, 2010


This pearl-clutching by the economist makes some fun reading from their panic.

The Economist posted:


A Labour government would radically transform Britain

SHORTLY BEFORE the financial crisis of 2008, a little-known Labour MP published a 64-page pamphlet. In “Another World is Possible: A Manifesto for 21st Century Socialism”, John McDonnell laid out an economic vision which clashed with the slick, pro-business mantra of Tony Blair’s New Labour. It praised participatory democracy in Venezuela and hailed co-ops in the Basque country, while calling for the sweeping nationalisation of industry.

The booklet was an attempt by Mr McDonnell, then on the backbenches, to scupper the coronation of Gordon Brown as leader of the Labour Party and prime minister in 2007. Mr McDonnell attracted the support of just 29 MPs. A little over a decade later, Mr Brown is long gone from politics. New Labour is history. Mr McDonnell is shadow chancellor and Jeremy Corbyn, his friend and socialist ally, is leader. Labour will campaign in Britain’s general election, to be held on December 12th, on the most left-wing platform in a generation.

The goal, according to Mr McDonnell, is an “irreversible shift in wealth and power in favour of working people”. If the party were to be elected, even as a minority government, it could fundamentally reshape the British economy, to a degree not seen since Margaret Thatcher in the 1980s.

Now war is declared
For a start, the party pledges to end the Conservatives’ programme of fiscal austerity. Reversing cuts to day-to-day department spending since 2010 would cost some £50bn ($64bn, or 2.4% of GDP). At least £25bn a year would be put towards infrastructure investment, in part through the creation of a “national investment bank”. Water and energy firms would be brought into public ownership. The Bank of England would be given a new mandate. The state would forcibly transfer 10% of the equity of large companies to their workers and compel pharmaceutical firms to supply drugs cheaply. Private schools would be abolished. Britain’s working week could fall from five days to four.

The prospect of a majority Labour government worries most economists. It is not clear that Britain’s public finances are strong enough to allow for a borrowing binge, especially in the face of an ageing population. A credible commitment from the central bank to keep inflation under control, and from the government to respect private-property rights, are the building blocks of a sustainable economy

Britain is almost uniquely vulnerable to a radical shift in policy. The country runs a current-account deficit of 5% of GDP, large by rich-country standards, meaning that it is highly reliant on inflows of foreign capital. Foreigners own a quarter of the outstanding stock of British government bonds. Investors’ trust in the British government and the country’s institutions, which rose during the 1990s (see chart 1), has already been tested by the financial crisis, the Scottish independence referendum of 2014 and Brexit. A loss of faith would send the pound plunging, increase the cost of government borrowing and imperil financial stability.

In 2017 a partner at Goldman Sachs remarked, echoing the French President Emmanuel Macron’s quip over his predecessor’s 2012 campaign pledge to set a top income-tax rate of 75%, that Britain under Mr Corbyn would be like “Cuba without the sun.” Mr Corbyn then had a public battle with Morgan Stanley, after the investment bank warned of the dangers of a Labour government. Yet some in the financial establishment have started to look more favourably on the prospect, for two reasons.

The first is Brexit. The Conservatives have negotiated the hardest of hard-Brexit deals, which the best estimates suggest will cut incomes by 6% in the long run. That is not much less of an impact than leaving the EU with no deal at all. Labour, by contrast, promises to hold a second referendum on Brexit, with a freshly negotiated deal put against staying in the EU altogether.

Second, the polls suggest that Labour has little chance of forming a majority government (see chart 2). Most probably it would have to rely on the Scottish National Party (SNP) or the Liberal Democrats, which are likely to become the third- and fourth- biggest parties, respectively. In the company of more moderate parties, the argument goes that Labour would have little chance of getting its most radical plans through Parliament. That parliamentary arithmetic, plus the checks and balances on any British government, would thus curb the instincts of a Corbyn government.

And battle come down
At a recent briefing from a big investment firm in London, managers insisted that British assets were now cheap, on the grounds that too many investors did not realise just how constrained Mr Corbyn would be in practice. In September Citi, a bank, suggested that a Corbyn government would be “the more market-friendly election outcome” relative to no-deal under the Conservatives, provided that Labour was in an alliance with the SNP and Liberal Democrats. Deutsche Bank has argued that while “any market-unfriendly policies instigated during a Labour government are temporary”, a no-deal Brexit would be a “permanent shock”.

Those analysts are making a mistake. Without a majority, Labour would be constrained, but it would still be radical. Compared with most other countries, governments in Britain have unusual powers of discretion to get things done without passing laws. No matter the makeup of Parliament after a general election, an incoming Labour government could overhaul much of the system—and do so fairly quickly.

Some of this could be for political gain; an attempt to convince the British public that it meant business. Labour could quickly launch pilot schemes on the pros and cons of adopting a “universal basic income”. One Labour policy wonk impishly suggests the incoming government could follow the example of the Bolsheviks in 1917 and immediately publish highly sensitive documents relating to previous governments—perhaps those related to the Iraq war or the Troubles in Northern Ireland.

It could also pursue more substantive policies. Take government spending. A recent report from the Hansard Society, a think-tank, noted that Britain has “among the weakest systems for parliamentary control and influence over government expenditure in the developed world”. Mr McDonnell could boost spending on public services at a stroke. He could go some way towards creating a national investment bank by boosting funding to the British Business Bank, an existing programme which directs investment to small firms. He would need to seek parliamentary approval for such largesse at a later date. But MPs would have limited opportunities to amend these plans, short of defunding the entire government.

Without much difficulty, a Labour government could unilaterally raise the minimum wage (currently £8.21 for people aged 25 and over) to whatever level it deemed appropriate. It could also reduce the age at which people are eligible to receive the top rate, to 18. The roll-out of “universal credit”, a hugely unpopular Conservative welfare reform, could easily be halted. That would come close to Mr McDonnell’s pledge to “get rid of the bloody universal credit”.

Labour’s plans for the Bank of England could also be implemented with little scrutiny. The wording of the Bank of England Act 1998, which enshrines the operational independence of the central bank, leaves plenty of room for change. For a period of three months the Treasury can take over the management of monetary policy “...if they are satisfied that the directions are required in the public interest and by extreme economic circumstances.”

The act also leaves the door open for more permanent changes. The bank must target “price stability”. Adding a target of 3% productivity growth does not appear to flatly contradict that requirement, especially as the next bit of the act states that the bank must “support the economic policy of Her Majesty’s Government, including its objectives for growth and employment”. An incoming Labour government could probably move the Bank of England from London to Birmingham, as it has said it would like to. Its time in government would probably coincide with the opportunity to pick the next governor. Mark Carney, the incumbent, is leaving the post early next year. The Labour leadership is thought to like Andy Haldane, the bank’s chief economist, who has more left-leaning views on economic policy.

When it comes to the rest of the programme—including the sweeping nationalisations and the necessary tax increases—legislation would be required. Moderate Labour MPs and trade unions might try and block some of these plans. Mr Corbyn is a life-long critic of both NATO and nuclear weapons. However, unions would hate to see the disappearance of well-paid manufacturing jobs in the arms industry; the party at large retains a militaristic streak. He has therefore pledged to stay in the alliance and continue the renewal of Trident, Britain’s nuclear deterrent. While the country’s soft power could shift, focusing on the pet causes of Mr Corbyn, its hard power would remain unchanged. Britain could be left looking like an NGO with nukes.

But in the case of domestic economic policy, MPs outside Labour’s inner circle would present less of a problem. Many worry that wealth and income inequality in Britain are too high, and are pleased that someone at last seems to have the courage to do something about it.

Relying on the MPs of other parties is more likely to gum up the process. The Liberal Democrats would be the trickier partner. Its leader, Jo Swinson, has refused any official partnership with the Labour Party. “We’re going to constrain Corbyn,” says Sir Ed Davey, the party’s finance spokesman. Any support for a Labour government would be both grudging and on a case-by-case basis, particularly as the Liberal Democrat ranks have been bolstered by former Labour MPs such as Chuka Umunna, who partly left the party because they feared Mr Corbyn in Downing Street.

With a big financial sector in Edinburgh, and a large oil-and-gas industry in the North Sea, the SNP might blanch at any plans to curb banker bonuses or to make life more difficult for carbon-intensive firms. Yet the party has drifted left in recent years, shedding their reputation as “Tartan Tories”. The SNP is hoping to start its own version of a national investment bank north of the border; it has also raised income-tax rates and its water supply is already in public hands. Its real prize is holding another referendum on Scottish independence, something for which Mr Corbyn has recently voiced support. Backing the manifesto of a Labour government is a small price to pay.

Meltdown expected
The legal system and the markets would present further obstacles. In a series of lectures earlier this year Jonathan Sumption, a former Supreme Court justice, complained that the law has come to play an overbearing role in political life. Governments may decide they want to do something, but all sorts of legal institutions, from the Supreme Court to the European Court of Human Rights, constrain what is possible. “There’s always someone judicially reviewing you,” huffs one former Conservative chancellor, who, needless to say, did not attempt to nationalise Britain’s utilities during his time in office.

Legal questions dog Labour’s plans, particularly over policies such as nationalisation. The party insists that Parliament will decide the appropriate price to pay shareholders in Royal Mail, the water companies, and electricity and gas networks. Labour also plays down the significance of forcibly transferring 10% of the value of large companies to their workers. “That’s not a levy,” Mr McDonnell told The Economist, with a grin. “That’s a sharing of the rewards of that particular company.”

Investors are unlikely to be so relaxed. “The employee-ownership programme proposed by Labour is nationalisation by the front door, back door and side door,” argues one chief executive of a FTSE 250 firm. His company would move to Ireland, and would return only if the Conservatives got into office, he claims.

If Labour tried to nationalise a company without paying what would reasonably be considered as fair market price, a court challenge would follow. Britain has around 100 bilateral investment treaties (BITs) with other countries, designed with the express purpose of preventing expropriation. Already, firms are shifting the holding companies of their British assets to countries where a BIT exists.

But the legal system would place only so much of a constraint on Labour’s plans. Though it would be expensive, and therefore win less public support, the party could ward off legal challenges by offering a market price for the companies it wanted to nationalise. Experts disagree over how much that would cost—though the state would be taking on extra debt, it would also be acquiring an asset with a yield. A Labour government could reduce its bill by talking down the companies’ share prices (though this might also face legal challenges). Already, the share prices of firms that Labour has said it will acquire are underperforming the British stockmarket as a whole, according to analysis by The Economist.

Financial markets might present further problems. Most forecasters believe that a Corbyn government would lead to a depreciation of sterling of around 10%, as well as higher borrowing costs for the government. Though the party promises a second referendum on Brexit, there is little guarantee that it would campaign for Remain with much vigour (Mr Corbyn is a lifelong Eurosceptic). It is even less certain that, in a second referendum, the country would vote the way that the markets want.

Many in the party would welcome a depreciation of sterling, on the grounds that it would help Britain’s exporters. The effect of rising gilt yields would be felt over a number of years, since the higher borrowing costs apply only to newly issued government debt. In any case, points out one adviser to the Labour leadership, after three years of the Brexit process Britons have got used to the pound gyrating all over the place. If market turmoil has not proved to be the undoing of the government’s Brexit strategy, then why should it prove to be Labour’s downfall?

At some point, ructions in financial markets would force a change—a weak pound makes imports more expensive, trimming living standards. But that point may be further away than many assume. Older Corbynites shudder at the story of the government of François Mitterrand, France’s president from 1981 to 1995. It embarked on a solidly socialist programme but embraced monetarism and budget cuts as it sought to quell the markets and keep the franc pegged to the Deutschmark. Younger ones look with alarm at Syriza, the far-left Greek party which capitulated to the EU after coming to office in 2015.

Would something similar happen with Labour? Some insiders think that policies such as the employee-ownership fund will be watered down. One Labour politician has been heard to complain that Mr McDonnell has “become like a bloody bank manager these days”.

But those in the inner circle claim to be steely. Seumas Milne, an adviser to Mr Corbyn, co-wrote an academic article in 1994 which excoriated Mitterrand for selling out. In “People Get Ready: Preparing for a Corbyn Government”, a book published earlier this year, Christine Berry and Joe Guinan, two researchers who are close to Labour, implore the leadership to resist the power of international financiers, even if they accept that what they call a “siege economy” is “not particularly desirable as a long-term solution”.

Another possibility exists. Even as a Labour government appears to compromise, it could remain radical. It is promising so many things to its potential voters that it does not much matter if it has to bargain some of them away. At the end of five years, Britain’s fiscal and monetary policy could be turned upside down. Investors may have reassessed their view of the country.

Nor is Labour’s leftward turn likely to be a passing phase. At 70 years old, Mr Corbyn is likely to step down after the election should he fail to win. Those around him are already jostling to take over. Few are lurching to the right in anticipation—the party members, who elect the leader, are Corbynites through and through. Another world has already arrived for Labour. Mr Corbyn and Mr McDonnell will hope another world is still possible for Britain.

Rarity
Oct 21, 2010

~*4 LIFE*~

The sheer absolute balls of this, I'm almost impressed

Lightning Knight
Feb 24, 2012

Pray for Answer

Nothingtoseehere posted:

This pearl-clutching by the economist makes some fun reading from their panic.

Tfw you write 5,000 words about how Corbyn is evil and make him sound amazing.

Braggart
Nov 10, 2011

always thank the rock hider

Rarity posted:

The sheer absolute balls of this, I'm almost impressed

If the only party running a candidate in your constituency was the Lib Dems, would you vote Lib Dem or Lib Dem?

Rarity
Oct 21, 2010

~*4 LIFE*~

Braggart posted:

If the only party running a candidate in your constituency was the Lib Dems, would you vote Lib Dem or Lib Dem?

47% Lib Dem
53% Spoiled Ballot

Braggart
Nov 10, 2011

always thank the rock hider

Rarity posted:

47% Lib Dem
53% Spoiled Ballot

But you repeat yourself :D

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Qwertycoatl
Dec 31, 2008

Rarity posted:

47% Lib Dem
53% Spoiled Ballot

Only the Lib Dem can beat Blank Ballot for this seat! Picture of Spurting Cock can't win here!

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