David Vance SubstackRead More
There are a few economic realities that the Left run away from at some speed! One of these is that it is ONLY the private sector workforce which drives the economy and which funds the public sector. It is the profits made by Private enterprise which are used to fund the State sector which by definition does not produce wealth, it merely absorbs wealth. It then regulates the sector that funds it. This is why the smaller the State matters so much because a big State will tax the hell out of the private sector to enrich itself.
The new Labour Government has a cabinet which distinguishes itself by not having ONE person in who has run or managed a successful private company. They are a collective of career politicians, union reps and public sector workers who will devastate British businesses and crash the economy. They don’t understand the fundamentals of growth which are really very simple to understand. Taxes should be kept low, regulation should be kept light. Labour have already said taxes on business will go up, regulations will tighten and trade unions will be further empowered. All this after just 100 days. Can you imagine what four more years of this will do to our Economy?
It’s not that I deride the entire Public (State) sector – there are elements of it that are important and for which I am grateful. HOWEVER, with the Government handing multi-billion 22% pay increases to the like of junior doctors, they show a total disregard for fiscal prudence. They are SHOVELLING the profits and taxes from the productive sector into the avaricious NHS and that is wrong.
Everything about this new Government screams incoming economic disaster.
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