MILIBAND IN SEARCH OF AN ECONOMIC POLICY

Ed Miliband appears to be searching through Labour's post-war
redistributive election manifestos of economic ideas,
which he hopes will resonate with his core vote and allow him to
scrape into Number 10.

All of his proposals have the hallmark of a command and control
economy, based on more public spending and escalating debt.
With the exception of Germany this would seem to be the case
throughout much of the EU, where the increasing burden of
state spending is destroying enterprise and growth.

Mr Miliband and other leaders of all political persuasions should
reflect on Angela Merkel's oft repeated mantra. "The EU has 7%
of the world's population, 25% of its GDP and 50% of its social
spending." Without the political will significantly to reduce the size
of the state, its appetite to consume an ever growing proportion of
GDP will have predictable consequences.