In order to be elected by the Tory members, Liz Truss has allied herself to some extra right-wing groups. That is evident in her first budget and policies.
Instead of funding the huge cost of the Energy cost reductions from windfall taxes on the massive profits being made by the oil and energy companies ie – she is putting billions of unexpected profits into the pockets of extremely wealthy people.
She is removing the cap on bankers’ pay so that these people, already earning millions, can earn millions more.
The budget is completely doing away with the top earner tax band – putting huge amounts of money into the pockets of very wealthy people.
She is doing away with capital gains tax – meaning that the massive profits being made by companies will not be further taxed.
She is reducing income tax by 1p (giving lower paid workers £174 a year) – wealthier people will receive a lot more.
She is removing stamp duty which benefits those with more expensive houses.
See any pattern here??
Liz Truss is busy borrowing huge sums of money and giving it to the wealthy.
She talks about this boosting the economy and creating growth.
I’m afraid that the biggest growth area is likely to be in the bank accounts in the Cayman Islands.
The growth in the economy is supposed to provide the cash to fund our public services and to pay off this huge amount of borrowing.
Sounds pie in the sky to me.
I fear for public services. Are our public services safe? What will have to our schools, fire brigades, police and health services? We’ve already had twelve years of austerity and cuts in public services.
Future generations are going to be picking up the bill for this while the wealthiest have never had it so good.
Just imagine if Corbyn had proposed borrowing on this scale!!