Black and White Balls

By DeusExMacintosh

David Cameron says it is his “mission” in politics to make the Big Society succeed – amid claims it is being wrecked by spending cuts.

The PM told social entrepreneurs the initiative would get all his “passion” over the five-year Parliament. The government has also set out details of how a Big Society bank to fund voluntary projects will work. Labour leader Ed Miliband said Mr Cameron was undermining his own Big Society concept through spending cuts.

Various charity figures have suggested that the scale of local authority cuts could kill off the idea before it gets going – by “destroying” existing voluntary groups…

The government has also announced details of a Big Society bank, which will use £100m in its first year from dormant bank accounts and £200m from the Project Merlin deal with banks to support working capital projects approved by the government. Among its advisers will be the Labour donor Sir Ronald Cohen.

BBC business editor Robert Peston said the bank would act as a wholesaler – it will not put money directly into social enterprises or businesses with a social purpose but would invest in the funds and operations which make direct investments.

BBC News

And in other news, the cash for internships scandal begins…

David Cameron was accused of ‘gross insensitivity’ last night after it was revealed that internships with City hedge funds were sold to wealthy Tories’ children for thousands of pounds to raise cash for the party.

At the Conservatives’ Black and White Party, millionaire Tory supporters paid around £3,000 each for their children to have the golden chance of spending a week or two with a number of top finance companies and banks. If they do well and win a full-time job, they could join the ranks of City tycoons who earn multi-million pound bonuses.

13 Comments

  1. Posted February 15, 2011 at 6:42 am | Permalink

    It may surprise some, but there’s nothing wrong I can see with the internships in the City bought for Tory donations. It’s almost entirely within the extended party machine, and entirely consistent with the philosophy of donors, parties and companies. No betrayal or conflict at all.

    It’s certainly more honest than the Victorian ALP practice of having behind-closed-doors pow-pows with Ministers for a sizeable donation.

    Now if a “donation” to the Greens got a City internship, that’d be a surprise, and a betrayal of their voter base (and useless to the intern, who’d be kept in the dark as much as possible)

  2. Posted February 15, 2011 at 10:26 am | Permalink

    [email protected] You do realise that the Greens have the richest voter base of all the major Parties?

  3. Posted February 15, 2011 at 12:29 pm | Permalink

    The UK Tory and Oz Labor governments are looking so alike: Senate Inquiry: Mechanisms and options for the development of a capital market for social economy organisations – Issues paper still to be released, but at least some of the ToR look like what DEM is mentioning.

    [email protected] – voter base, but I doubt donor base (including shareholders of corporate donors)- although happy to be pointed at figures disabusing me of such notions. Does anyone have degrees per voter by party? Certainly in my own electorate and region, green vote correlates better with education than wealth. (I wrote the analytical engine for FlyBuys and paid particular attention at those Census Sub-Sub Districts at the time – love to cross up-to-date versionss of CSSD data with AEC figures on booths – somebody will have)

  4. Posted February 15, 2011 at 5:09 pm | Permalink

    [email protected] What makes you think that education does not correlate to wealth? John Black (former Labor Senator) has done the most work on Green voters and activists that I am aware of.

    More generally, the left heavily outspends the right on matters political. And the Greens are doing their best to have the laws changed so they are the last major new Party to arise while receiving the largest single personal donation of the recent federal election campaign.

  5. Patrick
    Posted February 15, 2011 at 6:20 pm | Permalink

    And the Greens are doing their best to have the laws changed so they are the last major new Party to arise

    That too.

  6. Posted February 15, 2011 at 6:27 pm | Permalink

    The Greens are very wealthy over here, too, although a couple of them I’ve met (at least in Scotland) are a bit more principled. One bloke has found himself having to tell his fellow Greenies to cut the elitism, which in Scotland tends to manifest itself in the form of ‘posh’ English accents and prior attendance at Fettes. Going around and telling SNP voters, for example, that the great increase in Scotland’s wealth thanks to North Sea oil and gas is somehow morally wrong tends to make those people… even more determined to support the SNP.

  7. Davo
    Posted February 15, 2011 at 6:38 pm | Permalink

    Um, pedantic point … testicles are neither black nor white. However, if politicians pretend to juggle coloured spheres – perhaps they should be better trained in the circus.

  8. Posted February 15, 2011 at 7:27 pm | Permalink

    The name of the fundraising event was formerly “The Black and White Ball” (it was changed to ‘party’ to appear less elitist. Fail.)

  9. Posted February 15, 2011 at 7:45 pm | Permalink

    [email protected] ….. ROTBLMKOAIP (rolling on the bed laughing my knee out and in pain) at that fail.

  10. TerjeP
    Posted February 15, 2011 at 8:21 pm | Permalink

    David Cameron says it is his “mission” in politics to make the Big Society succeed – amid claims it is being wrecked by spending cuts.

    Interesting. Danniel Hannan says it suits both sides of politics to pretend the government is cutting spending (either to impress or outrage their respective bases). However apparently the official data says that spending continues to grow.

    http://blogs.telegraph.co.uk/news/danielhannan/100075917/there-havent-been-any-net-public-spending-cuts-but-try-to-say-so-and-youll-be-howled-down-as-a-liar/

  11. Patrick
    Posted February 15, 2011 at 8:42 pm | Permalink

    However apparently the official data says that spending continues to grow.

    I believe that this is known as the iron law of politics.

  12. derrida derider
    Posted February 17, 2011 at 3:02 pm | Permalink

    Yep, there are fundamental economic forces driving up government spending in all developed countries (google “Baumol effect”). Not even Maggie Thatcher could defy them – spending increased in every year of her premierhip.

  13. Posted February 17, 2011 at 3:59 pm | Permalink

    [email protected] Yes, but as the Tele article points out ‘cuts’ mean “GDP will grow faster”.

    Most Western democracies now have serious debt problems. We down here in Oz do not know how lucky we are. An IMF publication looked at (pdf) what we have learnt about macro economic policy recently. It is quite a good paper but it really comes down to ‘follow Australia’s approach”.

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