Are Tory right-wingers proposing a ‘Northern Bang’ or just another clusterf***?
Money: Margaret Thatcher’s favourite thinktank, the Centre for Policy Studies, says England needs a “Northern Bang” – like the so-called “Big Bang” in the financial markets that ultimately led to the financial crisis of 2008-10. It’s begging for disaster, as Tax Research UK’s Richard Murphy explains.
Tories can’t help themselves, these days. Whatever they do turns into a “complete bureaucratic nightmare” and this plan is no different.
It’s certainly nothing new.
Let’s all be grateful to Richard Murphy for his analysis.
In his introduction, he states: “Margaret Thatcher’s favourite think tank, the Centre for Policy Studies, has published a new report suggesting what they call a Northern Bang – aimed at the Tory Red Wall seats.
“Let’s ignore the fact that they want to favour these seats over those in Wales, Northern Ireland and Scotland. Instead let’s note that this is all the usual right-wing nonsense, including relaxing planning rules, providing state subsidies to big, foreign-owned businesses whilst ignoring those already based here, and reformed tax reliefs, for which there is absolutely no evidence of success in encouraging new investment.
“This is a Northern Whimper delivered by a think tank right out of ideas, but which still knows that its real purpose is to shovel wealth upwards from taxpayers to those who own and run large companies.
“The CPS report is here https://www.cps.org.uk/research/a-nor… and my proposals on capital allowances are here https://www.taxresearch.org.uk/Blog/w….”
Here’s the video, and it’s worth seeing:
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