Rachel said she was going for growth. Until she gets it the poor can go and die. We'll, before they comply they've given her and Starmer a good kicking first. The sad truth is that they have nothing to fear from Farage. They'll get some sinecure in the private sector. It's those of us with lots of vowels in our names who shiver with trepidation.
With Labour’s policies only hitting the pockets of working people [0], while refusing to increase taxes on the very wealthy, no wonder Reform won in Runcorn.
Rachel Reeves’ refusal to increase taxes on the very wealthy, as ‘Patriotic Millionaires’ have invited her to, starves the exchequer of an estimated £40bn - £90bn per annum [1&3]. Money Labour badly needs to properly fund, without austerity, policies to change lives for the better. Without improving lives elections will continue to be lost and the danger even arises for Reeves that she could begin to look as if she’s been knobbled. Particularly as excuses have run out.
The very fact that ‘Patriotic Millionaires’ have invited her repeatedly to do so, lays the myth that the very wealthy would flee the country in droves if Reeves increases taxes on them.
Besides, not only is it a vote winner - the polls say 75% of the British public would back government tax increases on the very richest versus spending cuts [2] – in 2018 it was what Reeves herself strongly supported [4&5].
She also has carte blanche, since a working person’s been clearly defined as someone who has to sell their labour to make ends meet [6], to tax very wealthy people, without breaking Labour’s manifesto commitment to ‘working people’.
Asquith's "efficient despatch of business" requires using the tax money raised to, for instance, insulate homes to lower energy bills for the less well-off. That would “see off the threat from Farage” or any other party.
Sources:
[0] Disastrous policies: cuts to the winter fuel allowance, refusal to relax the two-child limit on benefits, hiking NI contributions to harm wages and jobs. Expanding Heathrow when Starmer had earlier congratulated protesters for stopping that very expansion. Denying Waspi women recompense, allowing social care to limp on causing hospital bed-blocking until at earliest 2028; cuts to disability benefit to fund re-armaments; putting up taxes on charities and hospices while refusing to do the same for the very wealthy,
[1] How to raise £60 billion for public services: our ten tax reforms — Patriotic Millionaires UK & https://taxingwealth.uk/
[2] Three quarters of British public would back government tax increases on very richest versus spending cuts | Oxfam GB
[3] How to raise £60 billion for public services: our ten tax reforms — Patriotic Millionaires UK & https://taxingwealth.uk/ & Taxing Wealth Report 2024 Summary
[4] 374425087-Rachel-Reeves-The-Everyday-Economy-1.pdf For example: “We need a radical overhaul of the tax system because our current system of wealth taxation isn’t working. Wealth inequality in the UK is almost twice as deep as income inequality. Half of Britain’s wealth is owned by just 10% of adults, with the top 1% owning 14% of the total wealth (D’Arcy 2017). New innovations like automatic information exchange and country-by-country reporting are expanding the potential for international tax transparency and collection. They also open up new possibilities for taxing high levels of wealth in a globalised world”
[5] "A radical overhaul" - Rachel Reeves' full speech at The Everyday Economy launch - LabourList which, I was there, included: “These reform strategies could raise over £20 billion per year of tax revenues and a further £20 billion of investment funds which could be used to build up the proposed Sovereign Wealth Fund (Murphy 2016)”
[6] Speaking to broadcasters in Samoa, Keir Starmer said … people who had income from assets such as shares or property. “… wouldn’t come within my definition”.
Subsequently, as more or less defined by the No 10 spokesperson, a working person is, for the most part, someone whose income is reliant on a regular wage, as distinct from someone who can rely on money from unearned wealth, for example rental income or share dividends
Similarly, Dr Vladimir Bortun recently defined ‘working class’ as “not simply about selling your labour, but having to sell your labour to make ends meet” - ‘Working people’ definition is work in progress for No 10 | Autumn budget 2024 | The Guardian & What defines class? Is it the job you have, or your childhood experiences? | Class issues | The Guardian
Keir is outdoing Macron in legitimising the Right and helping them get elected. Neoliberals are incapable of learning.
Rachel said she was going for growth. Until she gets it the poor can go and die. We'll, before they comply they've given her and Starmer a good kicking first. The sad truth is that they have nothing to fear from Farage. They'll get some sinecure in the private sector. It's those of us with lots of vowels in our names who shiver with trepidation.
Keith will use this result to move the former Labour party even further to the right.
With Labour’s policies only hitting the pockets of working people [0], while refusing to increase taxes on the very wealthy, no wonder Reform won in Runcorn.
Rachel Reeves’ refusal to increase taxes on the very wealthy, as ‘Patriotic Millionaires’ have invited her to, starves the exchequer of an estimated £40bn - £90bn per annum [1&3]. Money Labour badly needs to properly fund, without austerity, policies to change lives for the better. Without improving lives elections will continue to be lost and the danger even arises for Reeves that she could begin to look as if she’s been knobbled. Particularly as excuses have run out.
The very fact that ‘Patriotic Millionaires’ have invited her repeatedly to do so, lays the myth that the very wealthy would flee the country in droves if Reeves increases taxes on them.
Besides, not only is it a vote winner - the polls say 75% of the British public would back government tax increases on the very richest versus spending cuts [2] – in 2018 it was what Reeves herself strongly supported [4&5].
She also has carte blanche, since a working person’s been clearly defined as someone who has to sell their labour to make ends meet [6], to tax very wealthy people, without breaking Labour’s manifesto commitment to ‘working people’.
Asquith's "efficient despatch of business" requires using the tax money raised to, for instance, insulate homes to lower energy bills for the less well-off. That would “see off the threat from Farage” or any other party.
Sources:
[0] Disastrous policies: cuts to the winter fuel allowance, refusal to relax the two-child limit on benefits, hiking NI contributions to harm wages and jobs. Expanding Heathrow when Starmer had earlier congratulated protesters for stopping that very expansion. Denying Waspi women recompense, allowing social care to limp on causing hospital bed-blocking until at earliest 2028; cuts to disability benefit to fund re-armaments; putting up taxes on charities and hospices while refusing to do the same for the very wealthy,
[1] How to raise £60 billion for public services: our ten tax reforms — Patriotic Millionaires UK & https://taxingwealth.uk/
[2] Three quarters of British public would back government tax increases on very richest versus spending cuts | Oxfam GB
[3] How to raise £60 billion for public services: our ten tax reforms — Patriotic Millionaires UK & https://taxingwealth.uk/ & Taxing Wealth Report 2024 Summary
[4] 374425087-Rachel-Reeves-The-Everyday-Economy-1.pdf For example: “We need a radical overhaul of the tax system because our current system of wealth taxation isn’t working. Wealth inequality in the UK is almost twice as deep as income inequality. Half of Britain’s wealth is owned by just 10% of adults, with the top 1% owning 14% of the total wealth (D’Arcy 2017). New innovations like automatic information exchange and country-by-country reporting are expanding the potential for international tax transparency and collection. They also open up new possibilities for taxing high levels of wealth in a globalised world”
[5] "A radical overhaul" - Rachel Reeves' full speech at The Everyday Economy launch - LabourList which, I was there, included: “These reform strategies could raise over £20 billion per year of tax revenues and a further £20 billion of investment funds which could be used to build up the proposed Sovereign Wealth Fund (Murphy 2016)”
[6] Speaking to broadcasters in Samoa, Keir Starmer said … people who had income from assets such as shares or property. “… wouldn’t come within my definition”.
Subsequently, as more or less defined by the No 10 spokesperson, a working person is, for the most part, someone whose income is reliant on a regular wage, as distinct from someone who can rely on money from unearned wealth, for example rental income or share dividends
Similarly, Dr Vladimir Bortun recently defined ‘working class’ as “not simply about selling your labour, but having to sell your labour to make ends meet” - ‘Working people’ definition is work in progress for No 10 | Autumn budget 2024 | The Guardian & What defines class? Is it the job you have, or your childhood experiences? | Class issues | The Guardian