John McDonnell carefully outlines his plans to ruin the UK

This Labour Conference has been so hideous I have felt sure someone would gently shake me and say "wake up, it's only a terrible dream." But no, as Basil Fawlty once said, "it seems we're stuck with it." The pantomime flowed even more freely than the champagne.

John Prescott, a man of the people is in the House of Lords an institution he has never hidden his loathing for. When he was questioned on Monday, we found him claiming that his £300/ day expenses barely covered his necessities.

The total £42,150 tax-free expenses this year plus an estimated £55,000 worth of pensions may seem lavish to some poorer Labour supporters but don't tell John that.

Threats of violence and rampant anti Semitism

The approach to Brexit was so disjointed and farcical that they decided not to even vote on remaining in the single market. (Oh no they didn't, oh yes they did). Kier Starmer mentioned that they would reopen negotiations about any settlement anyway when they won power. Dear Lord! Their approach to the disgrace of Laura Kuenssberg the female political editor of the BBC having to be accompanied to Conference with a bodyguard, after death threats issued by Corbynistas from the lunatic left; ranged from disputing that any of the caring Labour people would voice such a threat, to claims that it was a political ploy by the BBC to demonise hardliners.

Insanity reigns.

The response to anti-Semitic rhetoric reached new lows with a delegate suggesting that free speech should allow for a debate. Holocaust yes or no? As low as possible? Morally perhaps so, but in terms of fiscally ruining the country, that was left to John Mcdonnell the Shadow Chancellor.

Details of how John will bankrupt the UK

McDonnell focused on his obsession; re-nationalising everything. Rail, water, energy - even the Post Office was on his hit list. How much would all this cost? The figures are so huge as to be almost impossible to accurately calculate, but energy alone could cost up to 185 billion pounds according to a report by an investment banking group in 2015. Capital value of water?

The regulator thinks 69 billion pounds and so on.

He saved his most damaging nonsense for PFI deals. These are deals instigated by John Major's Conservative Government but utilised most widely by Blair's later Labour Government. As the public sector did not have the funds for all the building and development projects for schools, hospitals and a range of other necessary works, Governments asked for private investment. It is true that some of the deals, particularly with regards to ongoing maintenance, were poorly drawn up by government agents when they began, however, most of the holes have now been spotted and addressed. This private money plugged a 60 billion pound black hole. Now McDonnell wants control back and he states that "a future Labour Government rather than the market," would set the levels of compensation.

In that little phrase could lie the ruin the UK's fiscal reputation for decades to come.

It means that investors won't get the market price, they will risk being ripped off by a band of brigands posing as the UK government. A day later McDonnell stated he is planning contingencies in case "They come for us." Of course, they will come for you and they have trillions in their pockets and the UK Government of Corbyn and McDonnell will be several (who knows how many) trillion in debt.

When these investments were made the UK was one of the safest places in the world to invest money. Only last week, Moody's, one of the big three ratings agencies downgraded our credit rating. This type of foolish talk will only encourage a further loss of confidence by investors.

If this mad plan were ever to go ahead, rich investors would lose money and thus never invest in this country again. Many of them would see this as proof of things to come and leave the UK.

Presently the top 10 percent of earners pay 59 percent of all income tax (up from 35 percent in 1976), according to a recent analysis by the Daily Telegraph. They also own many businesses that pay tax. These people can choose where to live and do business. How much income tax do Richard Branson or Lewis Hamilton etc pay to the UK? None. They live abroad as is their right. But not only the rich suffer. Every person who has placed money in a pension scheme risks the value of that money dropping and a shortfall in the money they were relying on having in their retirement.

As our credit rating drops so our debt becomes more expensive to finance. Remember we have almost 2 trillion pounds worth of debt presently. Add a couple of percentage points to that interest rate and you have billions more to pay simply to continue to finance it.

The only area McDonnell is nearly silent about is how he will pay for this ludicrous largess with public money. Dennis Skinner the Labour MP for Bolsover, however, is never silent. He was telling everyone that we borrow the money, tell that to anyone who asks! But who from? Not the rich as we explained above. Steal private money once and they will never trust you again and they have choices. So once again, as in 1979 and 2010, Labour will ruin the UK and leave the rest of us to pick up the bill, if we can.

Debt will cost us as much as it did Greece and it has ruined that country for the last decade.

Flirting with catastrophe

For Lord's sake let us stop flirting with this madness. The three leading Labour MP's, Corbyn, McDonnell, and Abbott have all gone on record as supporting Hugo Chavez and his socialist plans for Venezuela. Well, those plans have had time to influence that country now and it has gone from the jewel of South America to a wasteland of starving people and violence. If Corbyn and McDonnell are elected no one can claim they were not warned.