How will Rachel Reeves respond to the latest economic downgrade – scrap the welfare state altogether?
It would be ironic if the best contribution ever made to the UK – by a Labour government – was destroyed by another Labour minister – albeit only a faker in a red blouse.
Her record shows that her first instinct is to attack people who can’t defend themselves, though – so this seems a distinct possibility.
The latest blow to Reeves’s [pictured – and I really need to find more varied images of her] abilities comes from an economic forecaster called the EY ITEM Club, which reckons the UK’s gross domestic product (GDP) will grow by only one per cent in 2025, down from a previous estimate of 1.5 per cent.
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The forecasts do indicate stronger growth of 1.6 per cent in 2026.
But this is based on an improvement in consumer confidence linked to increased real wages – and This Writer is hard-pressed to see how this is likely to happen in an atmosphere where businesses are cutting their workforces and reducing investment.
In any case, Reeves’s newfound faith in “trickle-down” economics tells us ordinary workers will not benefit from any improvement in wealth going to employers because the bosses and shareholders will keep any extra cash for themselves (nothing ever actually trickles down to the employees unless bosses are made to share it).
It seems to This Writer that the UK economy will continue on its downward spiral until Reeves – or perhaps a future successor – can be made to understand that she needs to tax the rich on their assets. A simple one per cent or two per cent tax would provide all the money she needs to revitalise business investment and turn the situation around.
But will she ever do it? It is possible – if she can be made to understand that her hope of a place in her favourite firm’s future boardroom may be dashed if she doesn’t.
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How will Rachel Reeves respond to the latest economic downgrade?
How will Rachel Reeves respond to the latest economic downgrade – scrap the welfare state altogether?
It would be ironic if the best contribution ever made to the UK – by a Labour government – was destroyed by another Labour minister – albeit only a faker in a red blouse.
Her record shows that her first instinct is to attack people who can’t defend themselves, though – so this seems a distinct possibility.
The latest blow to Reeves’s [pictured – and I really need to find more varied images of her] abilities comes from an economic forecaster called the EY ITEM Club, which reckons the UK’s gross domestic product (GDP) will grow by only one per cent in 2025, down from a previous estimate of 1.5 per cent.
Buy Cruel Britannia in print here. Buy the Cruel Britannia ebook here. Or just click on the image!
The forecasts do indicate stronger growth of 1.6 per cent in 2026.
But this is based on an improvement in consumer confidence linked to increased real wages – and This Writer is hard-pressed to see how this is likely to happen in an atmosphere where businesses are cutting their workforces and reducing investment.
In any case, Reeves’s newfound faith in “trickle-down” economics tells us ordinary workers will not benefit from any improvement in wealth going to employers because the bosses and shareholders will keep any extra cash for themselves (nothing ever actually trickles down to the employees unless bosses are made to share it).
It seems to This Writer that the UK economy will continue on its downward spiral until Reeves – or perhaps a future successor – can be made to understand that she needs to tax the rich on their assets. A simple one per cent or two per cent tax would provide all the money she needs to revitalise business investment and turn the situation around.
But will she ever do it? It is possible – if she can be made to understand that her hope of a place in her favourite firm’s future boardroom may be dashed if she doesn’t.
Vox Political needs your help!
If you want to support this site
(but don’t want to give your money to advertisers)
you can make a one-off donation here:
Be among the first to know what’s going on! Here are the ways to manage it:
1) Register with us by clicking on ‘Subscribe’ (bottom right of the home page). You can then receive notifications of every new article that is posted here.
2) Follow VP on Twitter @VoxPolitical
3) Like the Facebook page at https://www.facebook.com/VoxPolitical/
Join the Vox Political Facebook page.
4) You could even make Vox Political your homepage at http://voxpoliticalonline.com
5) Follow Vox Political writer Mike Sivier on BlueSky
6) Join the MeWe page at https://mewe.com/p-front/voxpolitical
7) Feel free to comment!
And do share with your family and friends – so they don’t miss out!
If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!
Buy Vox Political books so we can continue
fighting for the facts.
Cruel Britannia is available
in either print or eBook format here:
The Livingstone Presumption is available
in either print or eBook format here:
Health Warning: Government! is now available
in either print or eBook format here:
The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:
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