Why governments' attempts to pick winners produce more losers than winners.
Further to my earlier story on MPs’ travel expenses, Scottish MPs have just had their expenses claims revealed. There must have been one or two MPs feeling very embarrassed whilst they knocked back their cornflakes this morning and had a good read of the Scotsman. Yes, I’m talking about you Mr. Jamie Stone – for claiming back 42p for a pint of milk. I know, it’s not going to bankrupt the economy, but if this goon can not even pay for his own pint of milk without passing the cost on, you have to be worried about what else he is willing to shift on the tax payer. Nicol Stephen, the deputy first minister, claimed £4.79 for a map - of his own constituency. Good to know he is familiar with the area.
"The National Debt is a very Good Thing and it would be dangerous to pay it off, for fear of Political Economy", 1066 and All That (1930)