I think this is a little unfair. The government hugely increased public service spending plans last year and confirmed these at the Spending Review and have set out plans for the highest sustained level of investment since the 1980s (as I set out in my piece below). Over time, these plans will start to rebuild our crumbling infrastructure and public services.
I don’t agree that young people and workers are bearing the brunt of the budget. The biggest hit was extending tax threshold freezes for another 3 years, and this means taking 20% from additional earnings over a limit so rises are still rises just not such big rises.
The many tweaks in the budget will raise substantial amounts over years and establish a precedent of taxing wealth. We need to get behind Labour not attack it at every turn. If Labour stops balancing the books debt interest will rocket upwards and the economy will fall into IMF hands with huge cuts to spending.
Now that the initial shouting is over, I think the changes are right for the current UK circumstances and I am happy with it. I have rarely read such a huge amount of outlandish speculation in the press as there has been recently. The post budget statements from opposition parties in the commons were aimed mainly at the media and mostly rather silly. I do not approve of hurling insults across the floor of the house and we should just see how the changes work out. Obviously there are many more changes that could be made in the long term but now is not the time. I will not be piling in with complainers.
why is the UK's economic model broken? And how can it be fixed? I hear this a lot in opinion pieces, on podcasts, etc but never get an outline of what is wrong and could be done differently
I think this is a little unfair. The government hugely increased public service spending plans last year and confirmed these at the Spending Review and have set out plans for the highest sustained level of investment since the 1980s (as I set out in my piece below). Over time, these plans will start to rebuild our crumbling infrastructure and public services.
https://futurenorth.substack.com/p/what-does-the-budget-mean-for-the
I don’t agree that young people and workers are bearing the brunt of the budget. The biggest hit was extending tax threshold freezes for another 3 years, and this means taking 20% from additional earnings over a limit so rises are still rises just not such big rises.
The many tweaks in the budget will raise substantial amounts over years and establish a precedent of taxing wealth. We need to get behind Labour not attack it at every turn. If Labour stops balancing the books debt interest will rocket upwards and the economy will fall into IMF hands with huge cuts to spending.
Now that the initial shouting is over, I think the changes are right for the current UK circumstances and I am happy with it. I have rarely read such a huge amount of outlandish speculation in the press as there has been recently. The post budget statements from opposition parties in the commons were aimed mainly at the media and mostly rather silly. I do not approve of hurling insults across the floor of the house and we should just see how the changes work out. Obviously there are many more changes that could be made in the long term but now is not the time. I will not be piling in with complainers.
why is the UK's economic model broken? And how can it be fixed? I hear this a lot in opinion pieces, on podcasts, etc but never get an outline of what is wrong and could be done differently