Financial woes? Believe it....

Despite wonderful assurances of ‘Labour has changed’, the opposite is true. Lately the mask has slipped. No more smoking, kill the pensioners of cold because we rather pay exorbitant wage claims and furthermore, don’t believe them when they chortle on about ‘Stopping the Boats’. They will not because the mantra said some time ago by the messiah Blair about ‘ We open the borders and they will stay open’, is still in force. Ah well, told you so but frankly what choice have us lowly citizens got? It was either the warring Cons or the lying Trots. Anyone thinking Starmer is the messiah? Forget it, he is redder than red! Companies have smelled the rat under the floorboards as well and are moving out. Don’t believe me? Go to Holland (the Netherlands) just across the water. There are more English companies there than ever and are still coming. 

So, thanks to Labour with their tax grabbing antics we will soon all stand in the queue for a cuppa-soup. There was a question on X (the old Twitter) saying there are 12 millions of immigrants having entered since 1997 and a £500 billion cost. But it has to be said if we are spouting facts then at least get ‘m right. The website of FullFacts states, excluding British nationals there were 13.5 million immigrants and about 6 million have left since. It also was mentioned on the X account 80% of these immigrants claim benefits, i.e are not employed in any way although not verified. A bit overstated to be fair. The DWP itself has forecast the cost of the social security system is an eye-watering £276.4 billion ! Not just for immigrants, but still far too much bearing in mind the total income from taxation according to HMRC is £277.7 billion (NI included). This negates the cost of social care. No wonder Labour are looking at taxation. But shouldn’t they be looking at revising the whole benefits system? Well, don’t look at Labour for something like that. The amounts mentioned will only sharply increase this year and next. Frankly the next five years will be a disaster. 

For some time I have subscribed to the idea that the western countries are working towards a financial disaster many times greater than 1929. The national debts are gynormous! Nations still keep borrowing. The UK alone already has a national debt of over a trillion pounds and rising fast. The US has a $30 trillion rock around their necks and is stated to grow by $6.6 billion a day!! These facts are recipes for a calamity of gigantic proportions.

I just wonder whether poor Rachel Reeves knows about accounts? Well, even if she does know, there is little she can do because the bills keep rolling in. Simply because we have to service these national debts. The US cost apparently is $726 billion per annum! The UK cost to service our measly trillion or so is £110 billion! (According to FT.com). This is over 10% of total government revenue. Wasted money really. It is also the highest (!) debt interest cost in the developed world and we are only just a small island with 67 million people. The UK’s debt interest costs have increased dramatically in the past two years from an average of 6.2 per cent of revenue between 2017 and 2021 to today's figure of over 10% and it is rising!

Now politicians tend to close their eyes, none of us mudskippers have heard one ittybitty thing about these figures. They are all keeping schtum! It is why a lot of people including myself are so derogatory about politicians and politics. When I look around Wales I just despair, there is not a single party capable. Listening to them caterwauling about how they will change things for the better, they simply have no idea how to do that.

In the meantime, we are beginning to struggle to keep the whole kaboodle together. The old Muslim problem is not going away soon either and will probably keep growing. Costing many more billions. So, yes Labour will have no choice but I would like to know where they got that soundbite of the £20 billion black hole from? I think it is vastly more! Just look at the repayments and calculate the reducing tax intake plus the increased social costs. Got that, Rachel?


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