George Osborne's emergency budget is an indication of the pain this government intends to inflict on the British Public. More will come in the Autumn.
As expected the conservatives have hit the low paid workers hard, and are still showing their old hostility towards single parents. The rich, the bankers, and the large companies came off better than they had hoped for, small companies will be hit hard by the higher VAT, and the increased insurance premium.
All investment in job creation shemes have been scrapped, they expect that as the public sector shrinks, the private sector will take up the slack.
The top 4 UK banks concentrate their lending on high earning commercial mortgages, with only 3% of their lending going to help businesses take up the slack in the economy.
For the first time in 2 years one member of the Bank of England has recommended an interest rate rise.
With unemployment, and inflation rising, it would appear that the Conservatives are relying on the few workers we have left to foot the tax increases.
The government initially tried to copy the Canadian example of regenerating the UK, until everybody told the Government that the Canadian example wouldn't work.
Their flagship "Free Schools" copied from the Swedish, is another example they are quoting. The trouble is the Swedish example didn't work in Sweden.
They are now trying to copy the German example of "Austerity Packages", but in truth they are probably copying the example set by Japan in the 90's. Cuts without job stimulation : this caused 10 years of stagnant growth.
The Lib Dems which the Conservatives bought for just 22 ministerial positions, are now just there for window dressing, having sold out their electorate for a supposed power. Read More
Vic Farron RFT Express.
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