The Economy
I am all for lower taxes, higher growth and smaller government. The issue however, the way I see it is that this mini budget has done nothing to help the lowest paid, nothing to help pensioners, nothing to help the hospitality industry and those most in need.
The problem with ‘trickle down’ economics is that the money never trickles down. In reality, wealthier people don’t spend additional funds and thus help the economy and lower paid workers within it. What will happen is that people with spare cash will top up their investment portfolios, their pensions etc and very little will find it’s way into the real economy.
Tax breaks for the highest paid, relaxing of banker bonus rules, stamp duty adjustments will make zero difference to the majority of hard working low paid people. Like the tax breaks for solar panel installations, it only benefits a few who don’t need the assistance, or not as much at any rate.
Meanwhile many can’t afford food and heating, saving a few thousand to buy a house.
As a result of this mini budget, we are going to see pensioners freeze, the lowest paid and those on welfare going hungry, small business closing because they cant afford to pay their energy bills. Meanwhile bankers are getting bigger bonuses and a tax break,are bankers going hungry and struggling to keep warm?
In essence, bankers will pay more tax, allowing big government to get bigger, handing out more welfare payments.
We need an economy that works across the board, where jobs pay enough to not just live on, but provide a little extra for the odd luxury such as a holiday.
We are facing energy bills doubling this winter all because of a lack of planning and poor energy policy across the last 20 years. Thanks to the Tories we now only have 9 days of gas storage,compared to France who have 103 days of storage!
This government isn’t interested in making your lives better, unless you already have a decent income and lifestyle.
We could have helped the lowest paid by increasing tax thresholds, we could have helped small business and hospitality with a VAT cut. The same VAT cut that would help bring down inflation by reducing transportation costs by the reduction of VAT on fuel .
