Starmer’s Welfare legacy:
UK – More paid out in welfare (£333bn) than collected in income tax (£331bn), for the first time.
Reeves and her treasury cronies have no financial headroom, after splurging £bns on public sector pay rises, benefits increases, scrapping of 2-child cap, increase to minimum wage. They’re having to borrow more just to ‘afford’ her credit binge.
Meanwhile, employers, esp hospitality are facing ever increasing costs, and now unemployment is surging.
None or v little growth.
Highest borrowing rates and bond yields of major economies.
Yes, all made worse by the war in the Middle East, BUT markets reacted the worst to UK because of NO financial headroom to ‘soak’ the current crisis up.
Starmer and his troops are toast – will be hammered next month.