Comments by "Nigel Johnson" (@nigeljohnson9820) on "UK announces plan to slash tax and boost investment" video.

  1. Truss has established a government philosophy of "Greed is Good". She has adopted the discredited policy of trickle down economics. It seems that the conservatives have abandoned any pretence of fiscal prudence, and are happy to do as much damage as possible before they are voted out of power for a generation. They are doing their best to fill the pockets of the undeserving rich, before the country faces an economic meltdown. It seems likely that the UK will face a winter of discontent, maybe a general strike, before the current government is voted out of office. Truss claims her policies will lead to economic growth, but the only thing likely to grow is the wealth gap between the super rich few and the rest of the population. The government is already seeking to stave off industrial action by introducing legal controls on the ability of the unions to call a strike. At a time when most UK households are seeing a drop in real income, this government has decided to remove the cap on bankers bonuses, and give big tax cuts to the rich. The bonuse cap that was introduced after the last financial crisis was intendec to discourage the bankers from taking unacceptable risks. The pound has responded by falling to record low levels, while the cost of government borrowing is rising, as the UK is increasingly seen as a bad risk. The falling pound will make imports more expensive at a time when the government is relaxing planning regulations to encourage house building, which is dependent on imports. This government appears to have learned nothing from its past failures, attempting again to base the economy on the construction and finance sector. This government has approved further oil and gas exploration in the north sea, and FRACKING on land. This policy change will do nothing to improve UK energy security, as the fossil fuels recovered are to be sold on the global market, rather than kept for UK exclusive use. The only beneficiaries are going to be the oil and gas companies.
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