Every cloud.....
As I have said before there is an awful lot of kite flying going on by this government. But even so we seem to have gone in a month from, “there is more than enough money for a £47 billion tax giveaway”, to “tax rises for all to fill a £50 billion hole in the finances. “
Which suggests that this government has, in one month, lost £100 billion or so. How?
Even if you accept that the £47 billion was borrowed to pay for tax cuts and is no longer needed, that still means that Kwasi and Liz arranged a tax giveaway when they knew there was a £50 billion hole in the government’s finances.
That alone was an act of criminal irresponsibility and economic vandalism. One that was cheered to the rafters by the swivel eyed loons who now run this country.
But the fact is, growth has been so low for so long that it seems this government cannot cut spending as fast as its revenue predictions are falling.
That means ever higher taxes and ever worse public services, for ever.
Unless we can grow above trend for a decade or more, post Brexit and with more austerity that is never going to happen.
The things that might make it happen, re-joining the Single Market, better education, more infrastructure, more investment, all cost money or are beyond the ability of this government to champion or deliver.
Every cloud does not have a silver lining.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.
By Jonty Bloom Media