About me
Bookshop

Get new posts by email.

About me

Show me the New Money!

FactCheck is on the case very quickly about Ruth Kelly’s promised £280m worth of ‘new money’ for school meals. Which was very kind of her, and somewhat convenient with Mr Oliver on Mr Blair’s doorstep.

But the truth will out, and usually quite quickly in an election campaign, so no-one was really surprised when Mr Blair later admitted

Of course it is part of the education budget, but it is still new in the sense that this is money now specifically allocated to school meals.

So does this make it new money? Short answer – no. They’re playing that age-old game of announcing the same money again and again. They’ve announced the education budget, and now they announce a subsidiary of that, claiming that it’s new money. As far as I can see, ‘new’ money is money that has not previously been announced.

But, of course, if I announce ‘I will spend a whopping £2 on fruit today’, and then another day announce ‘I have £1 of new money to increase the apple budget’, most people would take away the message that I’m going to spend £3, which is good for the election campaign when the opposition announce that they are only going to spend £2. But, of course, we would both be spending only £2, it’s just that I’ve announced my apples budget separately from my fruits budget, and so made the whole thing look like it’s worth more than it really is.

But then, isn’t that Labour policy through-and-through?

This post was filed under: Election 2005.

Recently published posts

1080—1980 / 21 December 2024

Cascading sets / 20 December 2024

New Metro, old problems / 19 December 2024

Moonlight / 18 December 2024

‘A long way home’ / 17 December 2024

Peanut / 16 December 2024




Random posts from the archive

Disney doggy demotion shock / 24 August 2006

Tom Harris MP wants to give me a car – with driver! / 22 February 2009

Photo-a-day 257: Potts drum clock / 13 September 2012

‘Diva’ / 10 February 2024

Electoral fraud / 04 May 2023

Weeknotes 2022.36 / 11 September 2022





The content of this site is copyright protected by a Creative Commons License, with some rights reserved. All trademarks, images and logos remain the property of their respective owners. The accuracy of information on this site is in no way guaranteed. Opinions expressed are solely those of the author. No responsibility can be accepted for any loss or damage caused by reliance on the information provided by this site. Information about cookies and the handling of emails submitted for the 'new posts by email' service can be found in the privacy policy. This site uses affiliate links: if you buy something via a link on this site, I might get a small percentage in commission. Here's hoping.