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.
