So the Tories have to find a new leader in 7 days. Hunt has ruled himself out. The right wing are angry as they thought they had it all sorted with Truss and Kwarteng. The left do not have the financial backing from the ERG or Bruges associates, nor the organisation. However those MP’s looking at losing their seats will not be backing what has been identified as a losing gambit. My money would be on a Sunak/Mordant coalition. They would have to clean up the cabinet rapidly to achieve any semblance of respectability.
FRACK! FRACKING FRACAS
TAX
I just do not get it! The rich have increased their income massively over the past few years. Truss and the ERG and other rightwing think tanks say we need to cut the taxes of the rich to increase investment and create growth. It seems they meant the growth of the wealth of the already wealthy.
MINIMUM WAGE
An idea. Impose a higher level minimum wage for all workers in companies paying out money as dividends. % would need to be worked out. But it would both be an incentive for all workers and reward them for their toils.
TRUSS MUST GO
and take the rest of her Cabinet with her. It was not just her best mate Kwarteng (who she unceremoniously sacked) but the whole cabal of them that the country has no faith in. I mean what is Coffrey even doing in Parliament, let alone understudy to the PM. Sleeze-Dogg must be an embarrassment to all who know him. So we have a Trade Minister who ripped up agreements with the biggest trading bloc on the planet, a Health Secretary who not only smokes, but takes funds from the tobacco industry, a homicidal Home Secretary, a Justice Minister who does not believe in democracy, etc.
TRICKLE DOWN ECONOMICS
Hopefully this is being rejected by the majority of people now. Hoping that the rich will allow a few crumbs to end up with the poor is not only patronising, but wrong. The rich get steadily richer and the crumbs diminish. It is not good at encouraging growth either. Growth is not necessary for a thriving and developing economy, it just shelters the underperforming elements.
TAX CUTS
Two taxes that seem hard to avoid are Income Tax and VAT. So cut Corporation Tax and increase VAT. Food and children’s clothing is VAT free. Increase the threshold for Income Tax to £20000. Amazon, Google and Apple, etc. should not be allowed to avoid VAT. It would not matter if the company was based in Luxembourg, Dublin or Bermuda – if sold in the UK the tax will be paid. Simple really? Investment grants and other tweaks could be made.
STOP GROWTH
Wildlife numbers have fallen by 70% in the last 50 years and is falling at 1% per year. The worst decline is Latin America (down 98%), Africa (66%), Pacific (66%), North America (20%), Europe and Central America (18%). The report points out that the UK had diminished its wildlife well before the 1970’s, with it being one of the mist nature-depleted. countries in the world.
STERLING
The Governments economic woes continue. Sterling has dropped back to $1.10 and E1.14. The Bank of England will stop buying bonds. The IMF warns that the policy of unfunded tax cuts will cause more problems. The economy shrank last month – so much for growth. The government is being ‘forced’ into a windfall tax on renewable energy companies.
MY OH MY – THIS GOVERNMENT SUCKS
Fracking, fossil fuel extraction, NHS plundering, environmental protection ripped up, sewage in the rivers and seas, public advice services binned, obesity rules destroyed, education funding cut, councils unable to provide society enhancing facilities like libraries and swimming pools, care homes closing, speed limits on motorways to be lifted, planing rules abolished, economic rules abolished, wage rises and tax cuts for the rich. What is there not to despise about these fucking awful people.