If people actually open their Eyes, Rox, they will see that we are heading towards the biggest economic disaster in history!
It is not entirelythe fault of the government, they have spent less than the opposition wanted and would have done had they been in power, yet even so, we have spent more than most to keep the economy going – something which gets lost in the opposition’s cynical and hypocritical attacks .
What is clear however, is that if it was not for the good fiscal management of the last 10 years, we would have been in a much worse situation – the plain fact is that the government inherited the ‘then’ worst financial mess in history ,so started from a very low base, people should remember the outgoing Labour Chancellor’s chilling words ‘there is no money left’- he was not joking , we were one step from bankruptcy.
In fact, if anyone could use the word ‘ lucky’ in this dreadful situation, then we are lucky that interest rates are at a historical low, and that this, combined with this good fiscal management over the last 10 years has enabled us to borrow more than otherwise may have been available?
Any borrowing however needs to be repaid ‘ somehow’, because this is the real world, and lenders ( international, domestic, Joe Public ) want the money back , albeit over time, so just like any money borrowed personally, we may have to make sacrifices to repay it, and in this situation, we look at all of our expenditure and reduce it accordingly, and I’m sure, like you,that one of the first things cut ( I think ‘reduced ‘ not stopped ) in any household would be contributions to charity, rather than cut the essentials?
Taxation is part of the plan as well, as we will find out in the budget, ( yesterday was just a financial review not a budget ) and this will also cause uproar from the opposition, who in truth know full well that raising taxes is a must but, if they can score political points from higher taxes so be it.
Even the economically illiterate Shadow Chancellor Dodds knows that the infamous ‘ top 5% of earners will be asked to pay a little more’ was a Corbyn /Macdonald fantasy!
We will all have to pay, not as is being spun because it ‘the Government’s fault’, but because China, by accident ( some say by design ) unleashed yet another killer virus on the world, and this combined with the cost of Brexit **will cost us dearly.
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We have all known from day 1 that Brexit would have a cost- how much of a cost depends on an agreement or not – btw , I note that one of the areas that is causing the EU problems is the level playing field and ‘State Subsidies’, in that they insist on us not subsidising struggling industry, yet there is a fund in the EU , which can be increased at the drop of a hat –
‘EU State aid rules allow significant support by Member States to companies affected by a ‘no-deal’ Brexit. The de minimis Regulation allows €200,000 to be granted over a three-year period without any conditionality. This instrument could, therefore be particularly relevant to support small and medium-sized enterprises’ – one rule for them, one rule for us?