During Covid the wealth of millionaires and billionaires also increased exponentially and the gap increased as they hoovered up assets as people suffered. It needs sorting before they spend it all on weapons and buying the media and politics.
Nonetheless. You could tax every billionaire to the hilt, and end up paying maybe three years of debt interest. The UK has overspent for about twenty five years now. It cannot tax or borrow it's way out of it. It can't be done
The wealth is all going upwards. Even from the middle classes. Much of the spend is older people and the vulnerable. Do we stop helping them ? Labour tried it and there was hell on. So what next .. turn on the next scapegoats , or make the system work for more people? People need to get real on this and stop listening to the media fuelled rhetoric.
I The national debt is £3trn. It gets bigger every year. Bond markets are not patient forever, and that is where the money comes from. Most gilt yeilds are significantly higher then when Truss was in power, and they were only high then for a few weeks. Quite likely, if businesses are attacked again in November, there will be the type of financial crisis not seen since the mid seventies. None of this is nice to hear, I know that. But none of it will go away. No easy answers, but I would start by looking at a lot of unfettered QUANGOS. Together they burn through nearly £400bn a year. If savings cannot be made there, we are bust.
As believable as Santa Claus I'm afraid. All the polls in the world, all the surveys in the world, all the speeches in the world, all the urging of politicians to spend even more money will not change the fact. There is no money. Taxing more now ,which they will no doubt do, will cause a recession, being in less money and boost inflation. Guaranteed. Every single time this has happened at this level the same results have followed. Check this post this time next year.
Bookmarked. Some good posts recently marra on the economic situation we find ourselves in. Thanks for your inputs.
The NI increase for employers was another bad move by Labour. Hasn't brought in a significant amount but has resulted in job losses and knocked business confidence.
I wish we had the honourable and competent Tories back. Good to see this government going after the real crooks. Baroness Mone-linked company ordered to pay £122m over PPE contract https://www.bbc.com/news/articles/c1792rk7ynko
Aye you know about wealth better than a partnership of multi millionaires who want to pay more tax. Aye ok Others are taking the piss out of us https://www.instagram.com/reel/DPQ7nxPjFBV/?igsh=MTNkNWF1MWhmYW5hNQ== You’re taking their side against us
