Not content merely to tell us what food to eat, how to raise our kids, how much to drink, why we cannot smoke, and why we should not worry about having our identity under control of the state, the Labour government is now rolling up its sleeves in an effort to grab all that money just lying around:
The government is set to raid £15 billion lying 'dormant' in Britain's bank accounts to raise enterprise and skills in some of Britain's hardest-pressed areas.
Assets are regarded as dormant when they are unclaimed in bank accounts unused for at least a year.
Using the billions of pounds languishing unclaimed in financial institutions is to be a key part of Labour's plans to transform run-down inner cities.
Naturally, the financial institutions being bullied into going along with this proposal aren’t happy, as this money is used to fluff up their profit figures. However, since the banks’ profits have been doing so well recently, they realise they won’t have much popular support. The Tories and Lib Dems all think this is a fabulous idea, and their only quibble is how the money should be spent.
It has been long well-documented that there really is no effective opposition in Britain anymore, and as long as this is the case Labour will be allowed to erode the simple foundations of a free liberal society, in this case the idea of private property. For while it is entirely possible that good things will be accomplished with this money, we should remember that unclaimed or not, that money is not the state’s. While the government seems intent on going after the truly unaccountable cash that has been sitting around for years, it could set a dangerous precedent about how we have to explain our financial situation to them in the future. ‘Why yes, Mr Brown, I realize my savings account has been quiet for a while, but I was—yes, yes, you’re right. It’s just I thought—well, sure, good point there, sir. Silly me. I would probably just spend that money on fatty foods or a meaningless bourgeoisie holiday abroad. Please, take it with my blessing as my contribution to the Greater Good.’ Perhaps if Gordon Brown and Labour hadn’t single-handedly decimated this nation’s pension funds, people wouldn’t feel the need to salt away a few bucks for a rainy day in the first place.
(Hat tip to Nanny Knows Best)
Comments (1)
I can't believe that the government would seek to confiscate these funds without an exhaustive search into the rightful ownership and compliance with the wishes of the rightful owners. Please tell me that I'm not reading this right!!
Posted by Henry Kaye | December 8, 2004 10:39 AM
Posted on December 8, 2004 10:39