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Wednesday 18 March 2020

Sun Sunak Splurge Spin BUSTED

New Chancellor of the Exchequer Rishi Sunak need not have worried about getting the message of his measures to help the economy counter effects of the Covid-19 pandemic. After his announcement yesterday, the Murdoch goons at the Super Soaraway Currant Bun, now effectively part of the propaganda arm of CCHQ, leapt into action on his behalf.
Rishi’s Huge Virus Bailout … HEALTH CHEQUE FOR ALL BRITS … Cash bonanza to help families & firms … 3-month mortgage holiday for millions” proclaimed today’s Sun front page. It was backed up by a fawning editorial announcing “Chancellor Rishi Sunak’s colossal bailout of Britain’s businesses is music to The Sun’s ears”.
Under the sub-heading “Rishi’s rescue”, readers were toldTHE colossal bailout Rishi Sunak announced today, more than twice what it cost Britain to rescue our banks in 2008, is what The Sun wanted to hear. It will be music to the ears of the vast number of firms and workers pole-axed by a catastrophe not of their making”. It’s big, y’know … BIG.
But this was not the “cash bonanza” advertised by the Murdoch mafiosi, as Richard Murphy was quick to point out. “Business does not need guaranteed loans from the government right now when what they face are absolute losses. Loans have to be repaid and there is no way they can be sure they can do that. Sunak gets it wrong, again. He needed to give outright support to businesses”. Most of the £350 billion is in loans.
He had more. “Last week Sunak was going to give £12bn of support to business for coronavirus. Now it’s loans of £330bn. And in his panic he’s not doing the one absolutely critical thing - which is to help businesses support and retain their staff. Government must cover payroll costs. It isn’t”. All those pubs and restaurants we shouldn’t frequent.
Chris Dillow reached a stark conclusion. “As they stand, these measures do nothing to raise/extend sick pay or support gig workers, freelancers or tenants. This reveals the Tories’ class instincts”. Ash Sarkar was on the same page. “'Whatever it takes,’ said Rishi Sunak. But while there’s support for mortgages, there’s nothing for renters and nada on a funding package for those unable to work. We’re looking at an absolutely brutal recession - tinkering around the edges simply will not do”. Or even a depression.
How was this playing out “on the ground”? Guardian deputy editor Owen Gibson signposted an article (read it HERE) and summarised it “'We can’t afford to shut': PM's Covid-19 advice leaves pubs and shops in limbo”. And after Rory Cellan-Jones mused “Not entirely clear to me what this Rishi Sunak package does for unemployed Uber drivers”, Paul Lewis gave this very direct assessment. “Completely clear. Nothing”.
Labour MP Chi Onwurah was concerned that Sunak had missed the point: “the measures he announced do not support jobs, incomes or businesses to the extent needed. I fear the Chancellor's does not grasp the scale of the [Coronavirus] threat. His response is the economic equivalent of doling out a few umbrellas in the face of a winter storm”.

Yet Sunak’s response has been lauded by the right-wing press, none of whose editors or senior hacks will have to join those at the bottom of the economic food chain in tightening their belts. Once again, being straight with the public is proving difficult to do.
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Anonymous said...

See, there's ALWAYS an "opportoonity" even on the backs of a lethal pandemic......in a far right capitalist state - hey presto! profiteering capitalist LOANS!

Christ, you'd laugh if it wouldn't attract the coronavirus. But I bet the mugs and suckers who voted tory aren't laughing now.

Steve Woods said...

Is anyone out there in media land questioning Sunak where this £350 bn. is coming from?

Bob said...

Good point Steve. Not so very long ago much of the media went into a collective nervous collapse when Labour proposed to invest 500bn in national infrastructure projects over yen years. Now the sound of fury has been replaced by grovelling silence.