David Vance SubstackRead More
If socialists understood economics, they wouldn’t be socialists.
Did you see that more than half of companies are planning to raise prices in the next three months as they face a “pressure cooker of rising costs and taxes”, according to one of the UK’s largest business groups.
The British Chambers of Commerce (BCC) said its survey of nearly 5,000 firms suggested confidence had “slumped”, falling to its lowest level for two years. Nearly two-thirds told the BCC they were worried about taxes following the Budget, which announced a rise in national insurance contributions (NICs) paid by firms from April.
Now when you consider that the UK has not seen ANY economic growth since Labour came to power in July, you might think that Government would sit up and pay attention but not a bit of it from this lot!
A Treasury spokesperson said the Budget delivered stability for business and more than half of employers would either see a cut or no change in their NI bills.
This is sheer delusionalism! The Budget hit UK business with £40bn in taxes! How on EARTH did Starmer and Reeves think that this would generate any economic growth? I’ll tell you why – they have zero experience of life in the real business world and think that in some magical way, business absorbs costs. It doesn’t work like that. Yes, tax rises may be inescapable but so are price increases, reducing the work force and offering reduced contract hours. This is exactly what we are starting to see and it will get worse.
Labour Governments ALWAYS wreck the economy but this one has gone about it at such speed that all I see in 2025 is further UK economic decline and that is BEFORE the Trump tariffs hit. In a way this could be a good thing as it might accelerate the demise of Labour and that’s something we can all welcome!
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