4.0 out of 5 stars
Useful study of Thatcherism and its dire effects, March 20, 2008
This review is from: Thatcher and Sons (Paperback)
Simon Jenkins, past editor of The Times and the Evening Standard, has written a fascinating book on Thatcherism which, he observes, is not a style of leadership but a political direction. He claims that Blair and Brown are its `willing prisoners'.
Thatcher attacked all workers and all professions - doctors, nurses, teachers, judges, steelworkers, police and miners. She stripped local government and the civil service of their independence and democracy.
Since 1990 we have suffered Thatcherism without Thatcher. Jenkins shows how Major and Blair continued Thatcher's policies across the board. He calls Blair `Thatcher's most devoted follower', but he makes a very strong case that Brown is even more so.
His Chapter 17, `Gordon Brown Thatcherite', shows how Brown has mortgaged the government's current and capital accounts to balance the books and has sold forward contracts to private firms to supply services through his PFIs and PPPs. The government borrows dear now, workers pay dearer later.
Thus Brown shifted investment in public institutions `off the books', hidden from the public borrowing total, a technique that he copied from his banker friends like Gavyn Davies of Goldman Sachs. The Office of National Statistics now classifies 60% of PFIs as off-balance-sheet. Britain's gross off-balance-sheet public debt was £110 billion by 2003. Brown has imposed on us not just stealth taxes, but stealth debts too.
By 2005, Brown had forced the NHS to borrow £6 billion for PFI schemes, with another £11 billion to come. Less than 30% of the touted increased `health spending' goes to health care. 20% of hospital budgets go to servicing bank loans, far outweighing any promised compensatory `efficiency gains'. Most of the rest pays for the last decade's 60% increase in support and administrative staff, so it goes straight through the NHS and out the other side to private subcontractor firms.
Jenkins claims that Thatcher conducted two `revolutions' - freeing capital and strengthening the state - two aims which he sees as contradictory. But in fact she launched a single counter-revolution, strengthening capitalism's power, in order to defeat trade unions and their sources of strength in manufacturing industry.
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