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Home Business NewsLabour lied and cheated their way to power, the Budget saw their fraud laid bare

Labour lied and cheated their way to power, the Budget saw their fraud laid bare

31st Oct 24 8:55 am

Like the proverbial wolf in sheepโ€™s clothing, Labour under Starmer, Rayner and Reeves, promised voters they were reformed characters, who had abandoned the old ways of high-taxation and big borrowing.

What a massive pile of excrement that turned out to be!

As predicted by yours truly the UK Government shed its centre-left disguise to give businesses a good kicking, and then went wild with the company credit card.

They looked the UK public squarely in the eye and lied through their teeth.

Like all good socialists they blamed the other bloke for the mess, refusing to admit they had a Scooby about the state of the nationโ€™s finances.

Thereโ€™s a ยฃ22 billion โ€˜black holeโ€™ in the finances they said, itโ€™s not our fault, whined the chancellor from the despatch box, but donโ€™t worry I have a plan to rebuild the economy.

For starters ยฃ8 billion of the budget shortfall was frittered away on massive pay rises for militant train drivers and doctors. What is the matter with these people? I can understand why they hate the likes of me, but what did the over 65s ever do to them? I suppose they arenโ€™t classed as workers anymore. But even so, how is it that these โ€˜holier than thouโ€™ career politicians can leave pensioners freezing while giving train drivers big fat pay rises to sit in their warm cabs.

There were some frightening announcements today, especially from a business point of view. The increase in employersโ€™ National Insurance, which will squeeze ยฃ15 billion out of already struggling businesses, was the real killer. But hikes in Capital Gains Tax and the minimum wage, plus an Income Tax threshold freeze until at least 2029, also battered workers, businesses and the economy. Beer might be a penny a pint cheaper, but good luck finding a pub thatโ€™s still open.

Thinking about it, the pub gag is almost a metaphor for the entire rotten budget. The Chancellor appears to throw you a bone, but then gleefully grabs it back. โ€˜Invest, invest, invest!โ€™ she said in her opening comments, before making the UK a whole lot less attractive a place to run a business. It makes no sense and once again proves Labour donโ€™t get business.

And if evidence is whatโ€™s required to prove my point, take a look at the Chancellorโ€™s own growth forecasts which see GDP rising from 1.1% this year to a staggering 1.6% come 2029. If you ask me, thatโ€™s pretty damn close to an economy still on life-support five years after the โ€˜recovery planโ€™ was put into action.

Oh, and did I mention interest rates and inflation will stay higher for longer thanks to todayโ€™s budget? No? Well they will and I have now.

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