Lord Digby Jones says that a vote for socialism on Thursday will 'destroy us'
Lord Digby Jones, former director general of the CBI, has launched a stinging attack on the Labour Party and warned that a vote for socialism on Thursday will “destroy us”.
The crossbench peer has focused his attack on its manifesto pledges to hike corporation tax from 19 per cent to 26 per cent by the end of the decade and to renationalise Britain’s utilities.
He said: “This is Asia’s century. We must, especially in challenging Brexit times, do everything we can as a country to win investment from overseas, to be as tax-competitive in business and personal tax rates as we can be, to be light in touch in our employment regulation to attract the right talent.
Lord Digby Jones was Gordon Brown’s own former trade minister
“It is sheer madness to jack up corporation tax and promise more employment red tape to appease union paymasters. Why don’t we just put up a big ‘Not welcome’ sign and kiss goodbye to hundreds of thousands of jobs and billions in tax revenue?”
It is sheer madness to jack up corporation tax and promise more employment red tape to appease union paymasters
Lord Digby Jones
On Labour’s re-nationalisation plans, Lord Jones added: “The train operators, the energy companies and the water corporations have put billions and billions of non-taxpayers’ cash into the national infrastructure.
“It is sheer madness to expect that running them from the floor of the House of Commons with management by the civil service will somehow improve the quality of their service or their productivity.
“With the nation already coping with a staggering deficit, quite where the cash for an Attlee-esque nationalisation programme is to come from, God alone knows.
Lord Digby Jones has branded Labour's economic policies as 'sheer madness' Election 2017 LIVE Wed, May 31, 2017
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“It is sheer madness to expect ever again for any overseas investor to trust us when we repay their investment in our country by confiscating their businesses like a Banana Republic.
“A vote for socialism next Thursday is a vote for the Gods to laugh as they use the sheer madness of it all to destroy us.
"Surely our grandchildren deserve better than that?”