She also plans to stop non-essential spending on consultants and sell off surplus property.
She means privatisation.
Those findings led the government to accuse the Conservatives of making significant funding commitments for this financial year “without knowing where the money would come from”.
You ask the Central Bank to type in some numbers that's how. You can at the same time increase taxes on the rich so they can't buy shit or hoard their wealth.
And despite billions spent to house migrants and combat the criminal gangs ferrying migrants across the English Channel on dangerous inflatable boats, the number of people making the crossing is still rising, Starmer’s office said.
“The assessment will show that the UK is broke and broken — revealing the mess that populist politics has made of the economy and public services,” Downing Street said in a statement.
UK households and state assets are broken and broke because of austerity, not because the Government was spending too much or taxing (the poor) too little.
“The assessment will show that the UK is broke and broken — revealing the mess that populist politics has made of the economy and public services,” Downing Street said in a statement.
"Populist politics" they're referring to not increasing taxes on the poor.
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They refuse to increase spending by creating new money because it'll hit their City of London imposed rules.
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They refuse to raise taxes on the rich because they work for them.
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Because they can't increase spending without pushing the deficit beyond their self imposed limits or raise taxes on the rich to give them more room within their limits, the only "solution" is to tax the poor.
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Taxing the poor is ridiculous not just because they don't make much money but also due to reduction in total demand. With people having less money, stuff won't sell and capitalists will start firing workers etc....
Everything in the original post here is correct, but even by their own logic it's more lies and bullshit from a Labour party that can rely on nothing else...
The thing that's particularly absurd about this is that incoming governments, and indeed just the opposition, have access to the vast majority of economic data regardless of who is in power. So they already knew this was true.
In fact, they began signalling these weeks before the date of the election, not going as far as saying a 'cover up' and using 'emergency' rhetoric, but suggesting that the Tories were trying to 'gloss over' or 'hide from' the enormous 'hole' in the budget and public finances. Of course they refused to ever get specific about what they were actually going to do to plug the £20bn deficit. But it was clear that they were signalling that some more austerity was going to be neccessary.
While the more cynical of us who have paid attention to their donors and read policy white papers knew that they were only priming the public for the idea, before claiming actually that it was far more dire and they'd be 'forced' to take extreme action. And here we are.
Mark my words, this Labour government will oversee a once in a generation transfer of wealth and assets to capital, coupled with absolutely crushing austerity.
They did provide specifics though. Chief amongst them was bringing the rate of capital gains tax to parity with income tax, which is a direct tax on the wealthy.
That definitely is a good thing. However, the fact that they’re coming at it from the balanced “government as household” budget argument means the well is fundamentally poisoned. As long as they’re working from this idea that deficit spending means the country goes broke, there will always be a choke on social spending, let alone something more radical like nationalization, because the sky will fall if they don’t “find a way to pay for it.”
This isn’t left or center left economics, this is what conservative economics used to be.
give it a week or two for them to roll this back after some investment bankers make some phone calls