This week we began to see the full impact of last Friday’s ‘mini-budget’. The Bank of England has had to step in to save the government from itself and prevent a full-blown economic crash. It’s not yet clear whether the Bank of England’s actions have achieved that or merely delayed disaster.
The consequences of the government’s giveaway to the rich are already being felt. The cost of borrowing, both for the government and ordinary people, is rapidly increasing. The coming recession is likely to be longer and deeper than before. The cost-of-living crisis is going to get worse.
All this is the consequence of a budget that gave away billions and billions to millionaires. A budget that gave £50k to a millionaire and £50 to somebody on minimum wage.
The Tories should attempt to reverse this mess by reversing these reckless tax cuts for the rich, but they will refuse to do so. Instead, they will seek to pay for tax cuts for the rich by cutting benefits, cutting the wages of key workers and cutting our public services.
This Tory Party is asset stripping our country, but I believe people have had enough. Enough of being robbed by the Tories so they can give away handouts to their friends in the City. Enough of austerity for the many and handouts for the few. Enough of 12 years of failure that have made the 99% worse off and the 1% richer.
I will do everything I can in Parliament to press Tories to abandon this disastrous plan. If that doesn’t work, then I believe the country as a whole will step up and say enough is enough. We can force the government to reverse course through collective mass organisation and if it comes to that I will be on the streets, shoulder to shoulder with my constituents to say: enough is enough.
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