I see Rory Stewart had been appointed to some charity (I think) that is looking to try and eradicate world poverty by a simple change. Rather than sending billions to governments of deprived countries, send the money direct to the poorest.
Give someone who has nothing, say £1000 and they will spend it all and put it straight into the economy.
Similar to today. If the govt want to stimulate and save our economy
1. They need to do something about Brexit. Now. (But we know they won’t)
2. Channel more money to the poorest by a substantial amount as this will go straight back into economy.
3. Windfall taxes on energy firms. Putting the cost of this onto borrowing at silly rates is just crippling the country going forward.
Can you imagine the reaction if Labour was in power and announced tax cuts of this scale (even if they were targeted at the poorest). They would have been slaughtered.
And of course, the hidden cost, are you really any wealthier if you are now paying £50 less tax a month but you can’t get police response, you can’t get your doctor or hospital appointment, your bin emptying gets less frequent etc etc. These tax cuts will undoubtedly come with a cut in public services. And then when we are having to repay the debt on high rates, they will be cut even more.
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