Most committees in Brussels are crammed with the flotsam and jetsam of political losers, frustrated housewives, wealthy landowners, bored grandmas and superannuated trade unionists.
By Godfrey Bloom MEP | PSEurope
• I was recently invited to attend a meeting of the European Parliament Economic and Monetary Affairs Committee featuring market manipulation of Libor - or the London Interbank Offered Rate. Session headings included tackling the problem from a European Commission and regulatory perspective. Market manipulation of interest rates is the prime modern role of central banks. It is they who suppress interest rates by printing money and then circulating it through commercial banks to buy sovereign debt with the sole purpose of suppressing interest rates and debasing the currency. It matters not which central bank - the Federal Reserve, the European Central Bank or the Bank of England.
Why do I mention this in connection with proposals plans to oblige British companies to monitor the 'psycho-social health' of their staff when considering redundancies? The problem is that members of the EP committees have almost no experience of real life. With the exception of the Agricultural Committee, which is stuffed with landowners making sure their high-stepping lifestyle continues at the expense of the taxpayer - most other committees are crammed with the usual flotsam and jetsam of political losers, frustrated housewives, bored grandmas and superannuated trade unionists. The devil makes work for idle hands and there are plenty of idle hands in Brussels.
Let me take one example. Assume I have a factory in a small Yorkshire town, making the proverbial widgets for the Sunderland Nissan Car plant. I employ 200 people and because of the hopelessly expensive costs of electricity and diesel in large part caused by Brussels regulations as well as impossible EU and UK employment legislation - I have to restructure. I must lay off 50 staff to maintain profitably and Nissan is already threatening to source widgets from North America; where fuel and electricity are cheap because of huge reserves of natural gas. If I am unsuccessful, all 200 jobs will go including my own. Very sad, extremely distressing for those men and women and their families - especially as finding work will be difficult. But why is it difficult to find work? You guessed it, horrible employment legislation so nobody wants to take on new workers.
The whole thing is unpleasant and the local community will suffer. Well it is not E=MC² is it? Do we really need the expense of professional psycho-analysts and their expensive fees to make a statement of the blindingly obvious? Apparently we do. As a chief executive and owner, I am tempted to move the whole shebang to Malaysia. Exactly what Dyson did with his vacuum cleaner manufacturing. Indeed, what companies have been doing now for more than 20 years. European Parliament committee members just do not get it. Ye Gods, I am 62 years old have worked in commerce for 35 of them in the UK and abroad - so I have seen a few things and met a few people. None of them, as a genre, are as stupid as my colleagues in Brussels.