Labour Party: 1945
Let Us Face the Future:
A Declaration of Labour Policy for the Consideration of the Nation
VICTORY IN WAR MUST BE FOLLOWED BY A PROSPEROUS PEACE
- Public ownership of the fuel and power industries. For a quarter of a century the coal industry, producing Britain’s most precious national raw material, has been floundering chaotically under the ownership of many hundreds of independent companies. Amalgamation under public ownership will bring great economies in operation and make it possible to modernise production methods and to raise safety standards in every colliery in the country. Public ownership of gas and electricity undertakings will lower charges, prevent competitive waste, open the way for co-ordinated research and development, and lead to the reforming of uneconomic areas of distribution. Other industries will benefit.
- Public ownership of inland transport. Co-ordination of transport services by rail, road, air and canal cannot be achieved without unification. And unification without public ownership means a steady struggle with sectional interests or the enthronement of a private monopoly, which would be a menace to the rest of industry.
- Public ownership of iron and steel. Private monopoly has maintained high prices and kept inefficient high-cost plants in existence. Only if public ownership replaces private monopoly can the industry become efficient.
These socialised industries, taken over on a basis of fair compensation, to be conducted efficiently in the interests of consumers, coupled with proper status and conditions for the workers employed in them.
- Public supervision of monopolies and cartels with the aim of advancing ;industrial efficiency in the service of the nation. Anti-social restrictive practices will be prohibited.
- A firm and clear-cut programme for the export trade. We would give State help in any necessary form to get our export trade on its feet and enable it to pay for the food and raw materials without which Britain must decay and die. But State help on conditions – conditions that industry is efficient and go-ahead. Laggards and obstructionists must be led or directed into better ways. Here we dare not fail.
- The shaping of suitable economic and price controls to secure that first things shall come first in the transition from war to peace and that every citizen (including the demobilised Service men and women) shall get fair play. There must be priorities in the use of raw materials, food prices must be held, homes for the people for all before luxuries for the few. We do not want a short boom followed by collapse as after the last war; we do not want a wild rise in prices and inflation, followed by a smash and widespread unemployment. It is either sound economic controls – or smash.
- The better organisation of Government departments and the Civil Service for work in relation to these ends. The economic purpose of government must be to spur industry forward and not to choke it with red tape.
TRANSFORMING OUR FINANCIAL SYSTEM
Labour here Tackle the Magic Money Tree. See Professor Richrd Werner here for his grounbreaking research on the German Regional and Local Banks.
Richard Werner @ProfessorWerner First empirical test in 5000 years of banking on whether each individual bank can create money out of nothing is out
If you skipped the links and took me at my word here’s a bit more of Schumpeter to tee up our shot.
“Something like a certificate of future output or the award of purchasing power on the basis of promises of the entrepreneur actually exists. That is the service that the banker performs for the entrepreneur and to obtain which the entrepreneur approaches the banker. … (The banker) would not be an intermediary, but manufacturer of credit, i.e. he would create himself the purchasing power that he lends to the entrepreneur …. One could say, without committing a major sin, that the banker creates money.” 14
Schumpeter (1912, p. 197, emphasis in original)
“[C]redit is essentially the creation of purchasing power for the purpose of transferring it to the entrepreneur, but not simply the transfer of existing purchasing power. … By credit, entrepreneurs are given access to the social stream of goods before they have acquired the normal claim to it. And this function constitutes the keystone of the modern credit structure.”
Schumpeter (1954, p. 107)
And finally Professor Werner in his own words.
´´Among the many different monetary system designs tried over the past 5000 years, very few have met the requirement for a fair, effective, accountable, stable, sustainable and democratic creation and allocation of money. The view of the author, based on more than twenty-three years of research on this topic, is that it is the safest bet to ensure that the awesome power to create money is returned directly to those to whom it belongs: ordinary people, not technocrats. This can be ensured by the introduction of a network of small, not-for-profit local banks across the nation. Most countries do not currently possess such a system. However, it is at the heart of the successful German economic performance in the past 200 years. It is the very Raiffeisen, Volksbank or Sparkasse banks – the smaller the better – that were helpful in the implementation of this empirical study that should serve as the role model for future policies concerning our monetary system. In addition, one can complement such local public bank money with money issued by local authorities that is accepted to pay local taxes, namely a local public money that has not come about by creating debt, but that is created for services rendered to local authorities or the community. Both forms of local money creation together would create a decentralised and more accountable monetary system that should perform better (based on the empirical evidence from Germany) than the unholy alliance of central banks and big banks, which have done much to create unsustainable asset bubbles and banking crises (Werner, 2013a and Werner, 2013b).
All of this would be against EU regulations, We are better off with a Labour Party Social Democratic Brexit.
Politics, it’s funny old game.
Here’s a different take on what’s going on at the moment.
Football is our national game and lots of people are passionate about it.So I’ll use those terms I’ve seen a lot of people who are confused about people being up on a Labour loss.
Labour have not had a good showing in elections for years, so this election where it was very close,(3%, closer than Brexit) is akin to a 3rd division side getting promotion and getting to the cup final and putting a scare into say Chelsea or Man Utd. Not a win but a fantastic result.Everyone cheering on the team and the manager. what a great job.
On the other hand the Conservatives did very badly. Imagine being top of the league, in the cup, looking to have strong showing in Europe and then mid-season, the manager changes tactics, the team has a string of defeats, out of the cup, out of Europe and in danger of relegation, now reliant on other teams to stay up. If that was your team, as supporters, you would be furious, rightfully so and calling for the manager’s sacking and immediate replacement.
So, that being said, where are all the furious Tory voters baying for the sacking of the PM?
This reminds me of Two under-performing former Goal Scorers Disputing and claiming the Goal that drew the match when Clearly the Arsenal Centre Forward clearly stuck the ball in the back of the net.
We will refer this to the Dubious Goal Committee
Dubious Goals Committee
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Role of the Committee
- “As a rule, if the initial attempt is goalbound it is credited to the player making the goal attempt. However if the deflection means that a wayward effort results in a goal then it is attributed to the player who had the last definitive touch of the ball.” 
Kat Boettge shared a link.
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