The Labour Capital Party
The GMB's anti-private equity campaign against venture capitalism is gaining traction as anger over job losses at the AA and Birds Eye spreads across the unions.
Venture capitalist, Ronnie "PFI" Cohen, Gordon's moneybags backer, has a direct debit paying the equivalent of £20,000 a month to the Labour party. Nigel Doughty and Jonathan Aisbitt are another couple of red blooded capitalists happy to chip in a quarter of a million a year to the party formerly known as the worker's party. Peter Hain said he wanted City slickers to give up their bonuses, but this week he doesn't mind them giving their bonuses to the Labour party. He who pays the piper calls the tunes.
Last week Hain wanted City slickers to give their bonuses to "charity or invest it in regeneration schemes for unemployed kids". Now he says "private equity funds provide a very good vehicle for start-ups, for rescue operations and for investment to grow" - which they do - with a tapered relief 10% tax rate on liquidation and tax deductible debt costs to offset against profits. Gordon of course ultimately makes the rules, is he going to side with his millionaire backers, or the workers?
Venture capitalist, Ronnie "PFI" Cohen, Gordon's moneybags backer, has a direct debit paying the equivalent of £20,000 a month to the Labour party. Nigel Doughty and Jonathan Aisbitt are another couple of red blooded capitalists happy to chip in a quarter of a million a year to the party formerly known as the worker's party. Peter Hain said he wanted City slickers to give up their bonuses, but this week he doesn't mind them giving their bonuses to the Labour party. He who pays the piper calls the tunes.Last week Hain wanted City slickers to give their bonuses to "charity or invest it in regeneration schemes for unemployed kids". Now he says "private equity funds provide a very good vehicle for start-ups, for rescue operations and for investment to grow" - which they do - with a tapered relief 10% tax rate on liquidation and tax deductible debt costs to offset against profits. Gordon of course ultimately makes the rules, is he going to side with his millionaire backers, or the workers?
35 comments:
Job losses at the AA? You mean they're still in business?
In 1999 I was happy to accept the £300 demutualisation windfall, but the next year they sent me a membership card with a picture of Winnie Mandela on it. "Sod that," quoth I, and cancelled my membership. Didn't everyone else do likewise?
New Labour - New Hypocrisy.
Hmmm, now let me think...
Isn't £20,000 per month the same amount that Tony Blair has to pay on his mortgages?
Hmmm, still peanuts though, since Gordon at the Treasury has borrowed £100 billion more than he said he would in 2001.
now that dna testing's available aren't there some unsolved bank robberies that should be looked at again.
Everything started going to the dogs when the AA stopped saluting.
Will the real Peter Hain please stand up?
Prick.
"Gordon of course ultimately makes the rules, is he going to side with his millionaire backers, or the workers?"
Personally I prefer to see it as a choice between freedom of contract and government intervention telling people how they can and cannot use their own property and money.
"private equity funds provide a very good vehicle for start-ups, for rescue operations and for investment to grow"
Surely, these are the sort of funds that will eventually be paying for the Olympics and the NHS and the other black holes? The tectonic plates of NuCapLab’s fund raising schemes seem to be rubbing up against every source of cash there is at the moment.
I wouldn’t mind seeing my bank fees going somewhere else though, like back into my account to pay the interest incurred from paying bank fees!
Peter Hain is another example of the two faced, corrupt party NuLabor has grown into under the poddle's leadership.
I think George Orwell was writing about NuLabor when he wrote Animal Farm.
private equity funds provide a very good vehicle for start-ups,
Apax is not in start-ups any more. These firms are simply Merchant Banks and not Venture Capitalists.
Where did the story about Ron Cohen comes from ? He worked for Alan Patricof Associates which is where APA in APAX comes from
It is quite simple. They represent the party of envy, that loves money so much they can only tolerate *people* earning if those people are untouchable popular heroes or invisible. Which is why they are down on directors, professionals, the self-employed, and City traders' bonuses. 100,000 a week footballer good; 100,000 a year dentist bad. 100,000 a day offshore financier, good - all the while he's giving money to the right party, and not going out in daylight to embarrass them; director of firm the public have heard of, who publicly suggests that his job might be to make money for shareholders, bad.
But bloated corporations pushing for more regulation to strangle their competitors, while mouthing the current corporate citizenship claptrap and with non-executive directorships for superannuated politicians are always going to be good. They are always going to be the clients of government.
Peter, more to the point, how is the deputy leadership strategy working ???
I guess he should have said, "regeneration schemes for soon-to-be-unemployed NuLabour MPs".
HAIN HUNT CLAIM HIGHLIGHTS LABOUR FAILURES
yep, the headline refers to yet another reality bypass moment from the orange slimeball himself, hain claiming responsibility for single handedly introducing a 'successful' hunting ban - god, I'd hate to see what a labour failure looked like !
This is 100% Gordon's money, Gordon's rules, Gordon's taxes, Gordon's Labour chief fund raiser.
When you are socialist and need money hypocrisy is your only option.
So now equity investment is ok for Labour? Gordon Brown could have fooled me on that one given his atrocious record on private support of startups and his extortionate tax demands upon both investors and beneficiaries of the Venture Capital Trust schemes (another of Ken Clarke's amazing inward investment innovations).
If Hain is starting to make amenable noises about private equity then that can only mean one or two things, either he has been told to shut up on behalf of Labour's new investors (can't see Nigel Doughty as being too willing to give up his staff's bonuses to some seedy NuLab charity like the Sith Inst) or Gordon Brown has a new nuke in the pipeline to rip more tax money from the real investors in this country's future.
Sorry to be so pessimistic but as a victim of the Brown/Hain tagteam in the past, on the VCT tax loophope closure, I view anything from Peter Hain with extreme alacrity. The man is just a more polished version of the oafish John Prescott, substituting a rancid, greasy charm for Prescott's sub-intellectual brawn.
On the right of the page, there are links to some message space sites, including one for bloggers4labour.org.
Well, what an eye opener ! I commend it to the house.
Evil, manipulative, fuckers like hain ,really are fronting for some bods with a very simplistic / idealistic / impractical view on life. Can they be helped ? Aren't they meant to grow out of it when they leave the 6th form ?
I always understood the term 'Labour' to refer to unit labour cost and the role of the 'Labour' party to be concerned with driving this down - principally through the use of low-cost immigrant labour. Have I been mislead? Have I been funding the wrong party?
What always amuses me about new Lab is that the old style socialist workers still vote for them despite Iraq , WMD, foundation hospitals and of course PFI and this.
Just goes to prove that people who vote persitently out of habit or past convictions for one party .. will vote for anything.
See Peter Hain/ Patricia Hewitt etc..
At least with Ken Livingstone what you see is what you get...
NeoLab have been entirely consistent with their branding:
'newLabour' (from Eastern Europe)
'newBritain' (51st State)
Excellent work 10/10 - totally on-message!
Nick Robinson is stamping his blog feet this morning about the Margaret Beckett spoof conversation story.
Doesn't Bremner realise Nick is in The Lobby? They have a monopoly on insider political gossip.
BTW, the point about the spoof is SHE thought she was talking to Brown. Of course Bremner/Brown would be gossipy but Becket was doing it for real.
mitch - it must be great having Nick's job though; he just gets an email from Number 10, does a cut & paste, top and tail - whacks it in his blog, and Bob's your auntie's uncle - before you know it, time for lunch with one of Nulabour's head honchos...
"Sorry to be so pessimistic but as a victim of the Brown/Hain tagteam in the past, on the VCT tax loophope closure, I view anything from Peter Hain with extreme alacrity."
Do you mean 'alacrity', Julian ?
Do you even know what it means ?
Anon, 11:29. Take no notice of Julian. He can't help it. But I love him just the same.
"I do." He said quickly!
Scratch a Socialist, and find a Communist.
Saw a pic of Rupert "Chunder" Soames in one of the papers today.....he certainly has filled out since his inebriated days at Oxford
Here's a joke for Julian
A sports hack went up to Gordon Strachan in the car park after Saints had been stuffed at home.
"Can I have a quick word, Gordon?" asked the hack.
"Alacrity", said Strachan, face like thunder, and drove off.
Oops, that should have been 'alarm', not 'alacrity'. Was writing an article on something else and must have got my thought wires crossed somewhere.
The key to Hain is to understand his underlying condition - Chromo-body dymorphic syndrome. Hain is not so much a self-hating white, but a self-perceived black man who is abnormally palid; that is why, every morning he gets up, plasters his face with make-up, looks in the mirror and says, "I is black!".
"It is also known that this disorder may be representative of other types of disorders as well. Narcissism, antisocial personality disorder, obsessive-compulsive disorder, and paranoia were some of the personality disorders that have been associated with self-image and body dysmorphic disorder."
Sir Ronald Cohen had been donating to Labour at the rate of £20,000 a month, but in 2006 he gave twice as much: £250,000 on 6 June and the same amount on 9 November.
Methinks such donations, at a time of dire need, will not go unrewarded.
We were only following orders
Much as I am loathe to make disparaging personal comments about a 'man' of Hain's towering intellect. I have noticed that he also shares the physiognomy of the owner of another vast brain...Mr Potato Head. This might also explain his slightly overfried coloration.
Further real evidence that the New Labour party is the New Fascist party of Britain. Did we nead anymore after ten whole years of it?
Hain is the biggest unpricipled lieing sod known to politics. Apart from the rest of his mates in The New Labour Party, that is.
The most incredible thing is that the left STILL think that Fascism is right wing and not socialist to the core.
But isn't his tan lovely.
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