Reply to post: Re: @Lucrelout

Hey, folks. Meet the economics 'genius' behind Jeremy Corbyn

LucreLout Silver badge

Re: @Lucrelout

The trains and the utilities are not "pretty much everything".

The trains and utilities are just the start.

There is a case to be made for at least part nationalising the railways.

Not as compelling a case, unfortunately, for not nationalising any part of them, but instead doing the privatisation properly rather than the botched mess Major made of it. It IS better than BR, much better, but it could be better still - and I'd be amazed if you find any rail commuter old enough to have used BR daily that would disagree with that.

The difficulty of getting private industry to invest in electricity generation without subsidies shows that there is a similar case for utilities.

Private industry invests where the best returns are available. It's how markets work. Capping rises or otherwise interfereing with the normal market function is what distorts the market leading to a perceived requirement for state intervention. To actually be advocating nationalising energy generation you must have been too young to have really lived through the miners strikes and the rolling brownouts that were a normal part of life. Those of us who lived it definately will not allow you to drag us back to that farce.

That means someone is paying you. Will this continue if you go abroad?

That's generally considered to be how capitalism works. Yes, someone would continue to pay me abroad, just probably as a contractor for tax efficiency.

If your work goes to India that is a net cash outflow, but will it be as much as your current income?

I can see where you're going with this and can already see why you've got it wrong.

The net outflow of cash from the economy may seem small to you, but where it ticks up a lot is that my assets and the income produced from them would be relocating off shore with me, so no taxes paid to the UK on that either.

The next thing you're missing, is that I don't work for a British bank. I work for a subsidiary of a foreign owned bank. Once my role goes to India, the capital to fund it goes home. 100% of my tax contribution to the UK economy is lost forever. And that means those public sector workers I fund are shit out of luck.

How can you be so confident that the hose will simply stop pouring money into wherever you live and start pouring it into Bangalore?

It is what has happened to the last 6 roles people have vacated in my team and what my bosses have indicated will occur. Bet against it if you choose, just don't say you weren't warned and don't try to shirk responsibility for the mess. The left are rather too keen on that for their own good.

Once the nationalisations start, assuming they could be financed, companies will become nervous. The first time less than full compensation is paid to the business owners, the corporate flight from the UK will be so fast and thunderous that it will make you dizzy.

In short, there's a lot of rather simplistic exaggeration in your posts.

I kept it simple so you;d understand. Apparantly I underestimated your desire not to do so. There is no exaggeration, there is no hyperbole. Its just a fact. That you aren't comfortable with the outcome should be informing your thoughts on the process of getting there, no?

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