Thoughts for the Day on Maggie May.
The Snap election hailed as “Maggie” May’s capitalising on Labour’s low poll rating is I really about the chance of five more years before an unsuspecting electorate finds out the bleak economic future Britain faces.
A quick(ish) way out of this economic gloom would be tax the rich who have got tonnes of money, but are the Tory paymasters, so once more they will seek to “grind the faces of the poor” who have little money.
This is the latest Tory story of six years in having spared no one from austerity but the rich, while paring away the other sections of the populace’s incomes.
Any semblance of “work” no matter how poorly paid and part time counts and helps shortens the dole queue figures. Linked to benefits or not, it is encourages, or in the case of the disabled, “forces” to labour for a pittance..
Those in full time work labour under the minimum wage those 24 years old and under getting less a vast army of part and full time low paid and unskilled toil in warehouses, call centres, food preparation, retail, hotel and catering. The worst of the jobs go to immigrant workers.
Those at work have seen wages capped at nil or stagnate for eight years and more, has not and will not, rise enough in the coming years.
To help “hard working families” the Tories increased the “threshold” below which the citizen pays tax now to £11,500 (£221.00 a week) reducing the tax take not only from the bottom 20p basic but the (middle classes) 40p top rate level.
Pensioners incomes are/have been cut through changes to the formula for annual increases by replacing RPI with CPI. Second and graduated pensions cut to 1%, Pensioners Savings Credits cut (None if a pensioners after April 2016). Interest on saving yield next to nothing.
The “rich” though have had cuts in taxation and through their accountants knowledge of the way to do it without cheating. By cheating the super rich pay little or tax at all.
The balance of payments now relies on the City and and tourism rather than production and industrial goods. The stock marketeers or the weather Britain’s two great areas of unpredictability!
The lack of government funds to finance public services is the problem but instead of the measures increase revenues by creating wealth and thus taxes the Tories cut services and reinforcing poverty. Nero did better.!