24 hours on and most of what I have read is damning about the budget. A bodge it budget apparently.
I cant really remember one so chaotic. All the build up, for which they may have broken ministerial codes, then the OBR cock up. To get so many u turns and non events is ridiculous really. Our country will continue to decline as a result of this budget imo.
I read Badenoch is the winner. Have to admit I didnt think she had that in her. Not my type of politics but when all Labour have to say is it is all the nasty tories fault maybe they need a dose of reality, brutal as it was. For me the winner is most likely Reform. Labour seem to have opened the door even wider to a reset in politics. Shame when they have all the power they could possibly they want they bow down to their back benchers who are clueless.
No politician I have heard in years is prepared to utter the blindingly obvious truth.
Which is that the state must be reduced in size.
Reduced in it's take of people's money and reduced in it's hideous and constantly growing strangulation of society in a blizzard of control, regulation and interference.
This results is more people becoming infantilised, expecting the state to solve all their problems. The state becomes less able to do it. More taxation and excessive restrictions means business shrinks and retreats.
More people, seeing themselves work for barely any extra, work themselves onto the benefit system. More tax needed. More burden on individuals and businesses. Less tax raised. More money needed.
The picture needs no further paint. It has happened everywhere it has ever been tried. No exceptions. Every time.
It is a genuine Gordian knot, hard enough to solve when a commited attempt is made. But it is being ignored in the hope that, Micawber like, something will turn up.
It will.
By next year we will be spending over a third of all borrowing in interest on previous loans, and this will now accelerate as bond markets will smell blood.
What they will do down the line is require action before loan, and believe me, that will not be pretty. If we did not know better, as this is so easy to see, you would think the calamity was deliberate rather than just complacent incompetence. I still think it is the latter. You have to think that .