Reeves committing ‘political suicide’ if she orders spending cuts, warns McDonnell

26 comments

1. I mean he’s not wrong, but much like most people in a suicidal position – they often don’t see another way out.

2. I don’t think shes doing it for fun. The reality is we seem to be on the edge of yet another recession.

3. We’re already in austerity and it does not work. You have to invest your way out of this kind of mess, and being at the start of the term, now is the time to do it.

   Give OFGEM orders to actually cap the energy prices at a level that isn’t strangling the economy.

   Invest in infrastructure projects and nuclear plant builds.

   Lower taxes like fuel duty and others that have a broad impact.

   Give people the confidence to spend. If people don’t spend there is no economy. But make sure that money circulates around the general populous instead of going to offshored global entities who are sucking money out and not paying their taxes.

4. The mistake isn’t the tax hikes and spending cuts, the mistake was the campaign manifesto.

   They talked a lot of talk; No major tax rises. Fastest growth in the G7. Its easy they said, the Tories are just incompetent.

   Don’t make promises you cant keep, folks.

5. I think at this point the Tories have backed the country into a corner and it’s hard to see a way out. Can’t tax because tax is too high, can’t borrow because borrowing is too high, can’t cut spending because it has been cut to the bone over so many years.

   Somehow we have to pay down the debt the Tories ran up by underspending and causing problems as a result. Once we get those problems sorted spending can go down so IMO it’s about spending cleverly at this point. Cut things we can do without for now and spend where spending will yield cost reductions in future. Pay to reduce NHS waiting lists and get more people working, for example.

6. Never thought Britain would be knocking on the IMF doors for a sovereign debt bailout…but here we are.

   Lots of painful decisions ahead.

7. All this stupid drama is a bend-over-backwards attempt to avoid the real elephant in the room – the cost of the triple lock.

   Have the courage to can the triple lock, and boom, the books can be balanced.

8. You can have infinite free money for pensioners OR you can have literally anything for anyone else from services to tax cuts.

9. Go after rent seeking behaviour in the economy. Remove the triple lock. Personal allowances and tax thresholds shouldn’t change for 10 years. Would that be enough? No idea.

10. Labour already committed suicide and now we’re just trundling along until the next election. 5 more wasted years while the country desperately needs to be put back on track.

11. She needs to be bolder. In fact they all need to be bolder. The Bank of England isn’t beholden to the public, they need to recalibrate its mission towards economic growth. The BoE needs to be inventive and committed to the future of the UK – rather than restrictive. If they see their only job as controlling inflation with interest rates, we’re always playing with a hand tied behind our backs.

    The government owns the bank and shouldn’t be paying bank interest on govt. debt.

12. We are actually in stagflation. The worst of all possible outcomes, albeit now a global phenomenon . The thing is no one really wants to admit it out loud.

13. The truth is that the triple lock pension has to go but it won’t because any Government that does will be finished.

    Instead what she is going to do is absolutely hammer people who are disabled like me and nobody will give a shit because they never do.

14. Why are we as a countey addicted to foreign investment like its meth

15. I’m in my thirties and I feel like I’ve been told that I need to prepare for even more austerity because the government is going to massively cut public spending (again) as long as I’ve been alive. Shit is exhausting.

16. Have we tried “Kill all the pensioners”?

    I’m not saying do it, I’m just saying run the numbers and see if it’ll make a difference

    /j

17. Reeves ( or the next one put in charge ) need to do an open press conference and put the cards on the table.

    They need to bring in some well known economics professors and an advisory board and have an open field day with the public.
    People need to understand.

    1) we are in massive debt
    2) borrowing more is a bad idea, it’s no longer cheap to do so compared to the last two decades.
    3) convey the corporate tax avoidance problem, if we attempt to hit then with higher rates they threaten to leave and cut back – creating a spiral of unemployment and further losses ( state hostage or state capture almost )
    4) wealthy individuals pose a similar problem , exit tax should be implemented.
    5) tackling the welfare state and wage slavery. People will sit on welfare as long as they can when it’s equivalent or better than minimum wage work.
    6) we allienated the euro zone , and need to bring new trade partners into the fold. This obsession with “china is bad and will kill us all” needs to stop. Refer to the geopolitical world in the last 30 years , American has been an aggressor and Bully trying to control its Dollar hegemony, nobody has a clean house if we are OK with dealing in the AUE with all it’s modern slavery / woman’s abuse we really don’t have an excuse anymore.
    7) These things cannot be fixed short term, it’s going to take a year or more to start to work our way out.

    And DEAL with the privately owned media, the people who own these papers and tabloids are clearly fighting a class war. They don’t sell the news they sell a curated propaganda machine. We need a fact finding commission into these bodies , also resolve the Covid fraud while we are at it.

    Nobody is above the law , especially those we elected that’s why we got the danm king to sign the Magna Carted over 80p years ago

    Going to be stuck in a climate meltdown, WW3 Techno feudal hellscape unless we get our finger out and really start to have a government representative class of ” by the people for the people ” worldwide.

18. Rejoin the EU, or at least seek something similar to customs union or single market. If even single market access became a serious possibility it would put rocket boosters under the pound, reducing inflation at a stroke.

19. Sigh. This is just more austerity which they promised not to do. Expect any talk of nationalising utilities to disappear and more HS2 delays, probably expect privatisation of the NHS to be discussed as a need. Too cynical but I seriously feel British politics is so broken, it doesn’t matter who you vote for they just serve the uber rich anyway.  

20. what has the united kingdom done besides austerity for the last like 15 years

21. Tax the rich. Target offshore money. Tax land and multiple properties.

22. Could just get companies like Apple and the like to pay taxes in proportion to their profits made in the UK. Or simply don’t let them do business here if they refuse. It’s not like they have HQs they can pull out of – they simply have customers. That and perhaps rejoin the EU and ignore all the screeching from the usual suspects.

23. We need to just go hell for asset taxing the mega wealthy.

    If she can get people, the average person who works for a living, to have more disposable income than now in four years she will have set a good footing up.

    Massive taxes on foreign home buyers and corporation home buyers, punitive license fees for corporations that hold foreign assets in the UK with seizure if they don’t have them.

    A break up of the huge estates the landed hold with the land then put into something productive. They are on the right track with farmers, but a lot of tenant farmers could be moved onto these newly freed up shooting ranges or pleasure estates.

    All in all, take from those who have been taking since the 80s, give it to the work for a living people, and let it circle the economy a few times before the mega wealthy take it off shore again.

    They need to push against amazon, against supermarkets, against any large business really and focus on building SME up. Co operatives, local highstreets etc.

    The alternative is that what ever they do, the UK is going to be a continual rental based income for the global wealthy. It’s like a golden goose that keeps laying and borrows money for the feed. The housing bubble has got to burst, and they need to be prepared for it.
    And they need to find a way of generating huge amounts of renewable energy to encourage manufacturing here with cheap electricity.

24. The amazing thing is why people think she has any other option? It’s quite a binary option.

25. It cracks me up the way the Tory mouthpieces are acting like it wasn’t the last 14 years of their leadership that goose-stepped us into this scenario. 🤷‍♂️🤦‍♂️😂

    Edit: typo

26. Or, and bear with me here, it’s a shocking and outlandish proposal… PROPERLY TAX THE FILTHY FUCKING RICH

    These parasitic cunts add no value to society and hoover up all the money. Fucking grow a pair and take it off them.

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