Reform had a good start to local election results on Friday morning, with the red wall repainted “turquoise”, according to Deputy Leader Richard Tice. But his other arguments even got pushback from Talk TV host Mark Dolan.
This is a strategy Tice has talked about before. In a profile by the Institute of Directors, Tice argued that bond market panic, which he anticipates as inevitable, will be an opportunity for deregulation and then eventual growth:
We can prove the savings. We will deregulate alongside. Having done that, we can say to the bond markets, ‘Now we can afford performance-related tax cuts.’ The growth starts when you start deregulating and motivating investment.
That this man loves deregulation – read: less tax for the rich and more austerity for the poor – should surprise no one. The Times recently reported on a tax scandal involving Tice and a disputed £92k.
Tax for you but not for me! Reckless indeed, like Talk TV said!













Neither Tice nor the Canary (for the most part) nor all MSM economics commentators seem to grasp that the bond market narrative is nonsense. What we use for money, the BoE usefully points out, is Govt IOUs https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
check the PDF & if you think when you get a bank loan the bank lends you money it already has & doesn’t create new money, you’ll want to check the video there too. Then I expect you’ll be reaching for your pitchfork while you mentally calculate how much compound interest you’re paying on your mortgage, money you just found out the bank made up out of nowhere when you thought you were borrowing it.
Before you head for the barricades, however, lets get back to the bond markets. If money is Govt IOUs, & as we all know when you return an IOU to its issuer it’s nulled, destroyed, the Govt can’t be borrowing money from the bond markets, can it?