Jon Moulton: Miliband as Britain's next PM is a "terrifying" prospect

The Better Capital founder’s scathing attack on the Labour Party leader

Veteran venture capitalist Jon Moulton thinks trusting Labour leader Ed Miliband with the economy is a bad idea.

Speaking to London Loves Business, the Better Capital founder expressed doubts over Ed Balls’ capability of being Shadow Chancellor of the Exchequer.

He said: “Can you trust Ed with the economy? As long as he has Mr Balls as his chancellor you would justifiably be terrified. Mr B had a big hand in the 2008 Budget which predicted a budget surplus in 2010 – he was only wrong by nearly £200bn. I know we should be forgiving but there are limits.

“Simply running up debt for another five years would be immoral – why should the next generation pay to keep us happier – and risky, as at some point the currency will get into trouble and we would have to have higher inflation and higher interest rates. And Ed would do this to us.”

Moulton went on to say that a Labour SNP partnership would be “extremely frightening”.

“If it’s Ed plus the SNP it would be extremely frightening. The SNP clearly believe that spending a lot more than you earn is a very good idea just because it’s not austerity. Actually it’s just pushing the pain of getting into balance farther forward and making it even harder to get to that balance.” He said.

“Of the available characters David Cameron is actually the best candidate for a leader!”

Speaking about whether David Cameron would make a good Prime Minister, Moulton said: “Of the available characters David Cameron is actually the best candidate for a leader!”

However, he said that Britain need a PM who’s not “from the more privileged sector of society” and has “no corrosive background in public relations”.

“I long for a leader not immersed in spin as their key skill base. I’d like to see someone who would simply try to rule for the best and for the most. We need someone who thinks truth to be the paramount source of policy.

“Sadly the excellent leader of Singapore, Lee Kwan Yew, is no longer with us – he would have got my vote,” he added.

 

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Readers' comments (4)

  • Anonymous

    Ermm, sorry but there would have been a surplus if greedy people like yourself hadn't shafted the public.

    I can't believe this guy even has the audacity to complain. He is basically worried about having to pay more tax as labour will raise the higher rate, will ensure there is a wealth tax and will agree to a "financial transaction" tax to stop people like this guy screwing everyone over.

    We know austerity is failed economics that moves money from the public finances to venture capitalists like this guy. No wonder he is scared.

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  • Anonymous

    I ve only been registered for three minutes and I am already disageeing with someone 100% - on every single point - partly on politics and partly on simple facts. Great start.

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  • The interests of venture capitalists are so far removed from the interests of virtually every other person in this country that if a VC says something is "bad", that's a very good reason to vote for it.

    The first "Anonymous" on this page has got it spot on. These people couldn't give a flying fajita for the welfare of ordinary people in this country, all they care about is lining their own pockets at everyone else's expense.

    The Tories are the party that support tax-dodging corporate freeloaders, so that's why this guy thinks Cameron is the best bet. Of course he would, because he knows Cameron and his cronies will carry on allowing him to get richer and richer while the country's public services are raped and pillaged to pay for his tax cuts.

    Any why doesn't he like Labour? Because they would do the tiniest bit more than the Tories to reign his type in.

    This is pure Tory propaganda, nothing more nor less. A very good example of why the Tories should be voted out tomorrow by every right-thinking person in the UK who isn't a multi-millionaire tax-dodging scumbag.



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  • The problem is there is a real world which the far left have no undertanding of. They rely on confirmation bias to tell themselves they are alway right (information is selectively interpreted to fit thier beliefs http://en.wikipedia.org/wiki/Confirmation_bias
    This means the same old ideas that have failed repeatedley in the past are wheeled out again and agains as solutions to 21st century problems.
    As example take ptice/rent control
    http://news.heartland.org/newspaper-article/2002/08/30/why-price-controls-don%E2%80%99t-work
    http://www.cato.org/pubs/pas/pa-274.html
    http://www.macmillanhighered.com/Catalog/uploadedFiles/Content/Worth/Product/About/Look_Inside/Krugman,_Micro_in_Mods_2e/KrugMicro2eMods_Mod08.pdf

    In effect strong political belief leads to poor decisions being make repeatedly. Their IQ may as well bwe halved for the effectiveness of solutions proposed.

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