The Truss Kwarteng marriage has certainly displayed true Toryism, feed the rich and the rest can go to hell in paper cart. We don't need experts to tell us that massive tax cuts to the wealthy and corporate juggernauts will certainly enhance their life style considerably. While you and I are promised pie in the sky in the bye and bye. It will all be wonderful when that magical growth pours billions into the exchequer's coffers at some point in the future, meanwhile we wait in poverty and hope they spend it on us, though that has never happened in the past. However if we do look at the experts in the wonderful gambling casino called economics, we find they speak a different script from the Truss Kwarteng duo.
That much admired institution of the capitalist world, the IMF, gives it's verdict on the mini-massive budget. They state that tax cuts complicate the fight against soaring prices. They also state that inflation will peak at 11.3% by the end of the year and remain on average around 9% for at least two years. How does that fit in with your 5% pay increases and universal credits not being increased by inflation? That austere bastion of the money people the Bank of England, warns "material risk to financial stability". So it has indulged in another binge of buying government debt to prevent a sell-off and another risk to pension funds. Yes, your pensions are in the big gabling casino of capitalism and are all at risk if the gambling kids loose.
That much admired institution of the capitalist world, the IMF, gives it's verdict on the mini-massive budget. They state that tax cuts complicate the fight against soaring prices. They also state that inflation will peak at 11.3% by the end of the year and remain on average around 9% for at least two years. How does that fit in with your 5% pay increases and universal credits not being increased by inflation? That austere bastion of the money people the Bank of England, warns "material risk to financial stability". So it has indulged in another binge of buying government debt to prevent a sell-off and another risk to pension funds. Yes, your pensions are in the big gabling casino of capitalism and are all at risk if the gambling kids loose.
If you need any more evidence that this mini-massive budget is not in your interest, then listen to the Institute of Fiscal Studies, they forecast the only way to balance the books with this budget, to suit the financial Mafia is "big and painful cuts" to public spending of around £60 billion. You know what that means to you and I, we will be starved of public services and public amenities, nurseries, libraries, health care, education, sports centres and a host of other essentials to our daily life will will crumble and fade away. All because our lords and masters decided to give massive tax cuts to the wealthy and big business. We must stand up and defend ourself and our families against this cull on the poor, there is a better way to organise society, based on fairness, mutual aid and seeing to the needs of all our people.
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