Let’s have a stable Labour government
Thursday, 6th October 2022
• THE current political leadership are on a discredited journey of tax-cut led, trickledown economic utopia.
Their plan is a direct contradiction with “prudent fiscal discipline” demanded by “the markets”, because it is unfunded and dependent on borrowing.
A correction leading to the 45p rate U-turn by the Chancellor on Monday morning was inevitable.
Unfortunately, that correction only represents just a tiny fraction of the borrowing needed to pay for the planned tax cuts.
The real obscenity is that billionaires use these taxes they are saving, to lend back to the government, at inflated interest rates, potentially forcing homeowners to hand the keys to their homes over to the lenders, which was caused by this incompetence in the first place.
The other side of that corrective equation is to rein-in spending. When we stop searching, it would probably be education, welfare, local government – take your pick. This punishes those grafters in work who the prime minister dismisses as lazy idlers.
It would take a callous move for even a Tory government to impose this on a section of society who are already on their knees from the cost of living crisis and even capped energy price increases.
When even the markets turn against you, and the Bank of England is forced to come to the rescue, one is forced to wonder: can a government survive this?
On the other hand, we heard last week that Labour would invest in creating an economy by building the thousands of council homes we desperately need, making home ownership affordable, and establish a publicly owned energy company, releasing us from dependence on fossil fuel-based energy from far away shores.
The sooner we issue a democratic P45 to the present lot, and switch to a grown-up stable Labour government, the sooner we will begin to clear up this mess and get the country back to being respected on the world stage.
CLLR MERIC APAK
Ward councillor for Kentish Town South
