The News In Shorts

How the news would look if everyone stopped waffling and told the truth.

Monday, 8 October 2012

Osborne's Faustian Deal.

George Osborne, the world's leading economic ignoramus, revealed his vision for Britain today to a hushed crowd of Tories even more stupid than he is. Apart from the usual message of making the poor and vulnerable pick up the bill for the rich and irrationally greedy and the misleading picture of the feckless unemployed breeding like rabbits, we now have the real Faustian bargain of workers giving away all their rights in return for shares. "You too can become a bloated capitalist with all the benefits that tax dodging bestows," Osborne is suggesting to what he hopes is a gullible electorate. One moments thought, however, will explode this preposterous idea. Already existing shareholders have been howling for years about how hedge funds have all but destroyed the market in shares, while company executives have been too busy filling their own bank accounts to care about dividends for small independent investors. All too often shares in companies are barely worth the effort. But, if a worker was foolish enough to give away his employment rights in return for shares, what could he expect as his end of the bargain? No training, no right of redress if his boss takes a dislike to him and no redundancy payments if he's found to be surplus to requirements. Still, if he does find himself made redundant he can cash in his shares can't he? Well yes, but it is usually the case that a business that cannot afford staff is usually in trouble and that, of course, means that the value of its shares is likely to tumble. So, no redundancy money and precious little from selling his shares as he and his fellow redundant workers desperately try to unload them on a market that doesn't want them. Not much of a bargain after all. The electorate should consider one thing before accepting anything from the Tories - when you sup with the Devil you need a long spoon.

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