David Craig, on November 23rd, 2023Thursday/Friday blog
I haven’t been able to write a blog for almost a week. But I was so incensed by the farce of the fake-Tories’ excuse for a budget that I feel I have to throw in my twopence.
Some commentators have noticed that due to fiscal drag – tax allowances not increasing in line with inflation – Chancellor Hunt’s supposed tax reductions will actually result in tax rises for most of us.
At least some people seem to understand that.
Of course, our fake-Tory MPs, like performing circus monkeys, clapped and cheered Hunt’s supposed economic brilliance which would supposedly lead to magnificent economic growth:
But has any of these idiots actually looked at what is happening to our country? Let’s just take two recent pieces of industrial news.
Our useless government is giving £500m of our money to a Chinese company which owns ‘British’ Steel to close down its blast furnaces, reduce the amount and qualities of steel it produces and fire more than 2,000 skilled, well-paid British workers. All this is in order to reduce the steel plant’s CO2 emissions to enable Britain to hit its economically-suicidal Net Zero targets. Our (IMHO) thicker than a thousand planks business and trade secretary, Kemi Badenoch (real name Olukemi Olufunto Badenoch), laughably claimed: “The UK government is backing our steel sector. This proposal will secure a sustainable future for Welsh steel and is expected to save thousands of jobs in the long term.”
And now we learn that the energy giant Petroineos announced on Wednesday that its oil refinery in Grangemouth (Scotland) will close in spring 2025 because it could no longer compete with overseas rivals. Repurposing the site to just a fuel import and distribution business is likely to result in the loss of about 400 of the current 500 jobs at the Firth of Forth site.
Neil Gray, the current cabinet secretary for wellbeing economy, fair work and energy (yes, there apparently is such a position in the clown SNP administration), said the closure was a “commercial decision” that reflected the Scottish government’s “ambitions” for decarbonising industry. Displaying a similar economic understanding and intelligence level to the above-mentioned economic genius Olukemi Olufunto Badenoch, Gray ludicrously claimed: “This is a commercial decision and it is our understanding that these works will future-proof the site to allow it to continue as an important fuel supply source for years to come. The Scottish government is committed to working with industry to secure a sustainable future for Grangemouth that reflects our ambitions for decarbonisation and a just transition for Scotland’s industrial sector while recognising the important role it plays in meeting fuel demand in Scotland.”
Hopefully readers will have noticed something none of our journalists seem to have noticed. Every time there is another economic disaster for Britain, the politician responsible issues almost exactly the same word salad of meaningless drivel claiming the disaster is a huge success for our country. So next time there is a similar economic catastrophe caused by our economically-suicidal Net Zero rush to economic oblivion, and there will be many more ‘next-times’, readers will recognise the usual verbiage of economically-illiterate nonsense put out by our lying, self-serving political elites.
While our worth-less politicians hurrah and cheer their plans for supposed economic growth, their stupid, economically-suicidal Net Zero policies are driving us towards economic decline and bankruptcy.
Sadly, when Starmer, Rayner and the appalling Miliband take over, our country’s plight will be even worse.
As for me, as part of my vote of confidence in Britain’s worse-than-excrement politicians, I’m moving all my savings out of Sterling
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It is becoming clear to me that what passes for politicians these days have adopted true ‘orwellian’ language, whether from ‘Animal Farm’ or ‘1984’ in their dealings with us – the general population – peddling lies to at every opportunity, never admitting the honest truth. I am old enough not to take them seriously, but I fear for the future of our young people, many of whom don’t even have the education to see through the lies.
True in every word and endorsed above by Ian J. The sycophantic grovelling to Hunt by most of the MSM is nauseating. All the hike in the Minimum Wage will do is push up employer costs and therefore prices. AKA Inflation. Doesnlt Hunt understand something even that simple? Failure to raise Income Tax thresholds will rake in far more than is being given away. Maintaining the “Triple Lock” on the State pension will bring far more not-very-well-off pensioners back into the Tax system. Enough said about yesterday’s fiasco. One bit of good news though – the Dutch are showing some bottle as demonstrated by their huge Election swing to the “Far Right”!!! Could it be that the endogenous populations of Europe are starting to show that they’ve had enough? Hope you have not been unwell thuis past week – you have been missed.
Moving your money where David ?, I am considering precious metals.
Sorry, (like most ‘financial sdvisers’) I am not qualified to give financial advice
I favour the Mises Institute approach which is well put by Ayn Rand – politicians should be kept away from the economy and a free, competitive market should be allowed to operate. Politicians don’t like this because it takes away their control, and the majority of people don’t like it because they have been brainwashed into believing that the government must control the economy. They all believe that the economy must be controlled to remove uncertainty, but the only certainty politicians bring is failure. The government has been lying for years. Remember Wilson’s the pound in your pocket nonsense when he devalued the pound. We now have continual devaluation by printing worthless money. That is the true cause of inflation and price increases are the result of it. The government talks of reducing inflation as if prices also return to their original level. A successful economy must be more efficient and that should mean falling prices. When have we seen that?
The other issue is that profit has now become unacceptable to the majority because they don’t like success. I read recently a view that attitudes to social position have changed. It used to be determined by titles and inheritance but since the equality agenda appeared it is determined by jobs and income. Those who are not as successful as others now see themselves as failures and they blame the government which has promised equality. This has created huge numbers of people who are resentful of more successful people. They have been made to believe that company profit is reducing their income. They want to see increased taxation because they think the government will give them more of what somebody else has earned. Socialism is here to stay until, as Thatcher said, until the government runs out of our money. Now the government doesn’t even need our money, it borrows as well and we cannot afford the interest payments.
I think Stillreading is right about the minimum wage. Here it is being passed on in price increases, but in America this does not happen and jobs are lost. Eventually that must happen here. Thomas Sowell has criticised the minimum wage because low paid jobs have gone and he says young black men especially relied on them to get into the job market and unemployment has increased. It is a market economy that should determine wages. In the UK we are becoming uncompetitive because of high energy and wage costs. Nobody will buy what we produce if they can get it cheaper and we need exports to pay for imports, especially food.
The other big con the government uses is growth of the economy. It sounds good but they have yet to explain what it means.
Your last paragraph is probably the best advice we will get, other than leaving the country.