Tag Archives: Pandora

#CPC21 : Sunak’s speech endorses – and offers to reward – tax avoidance by billionaire Tory donors


Let us be clear about this.

On the day most of us learned that billionaire Conservative donors have been squirrelling away trillions of pounds in tax havens rather than paying their fair share…

… Conservative Chancellor Rishi Sunak has apologetically told them he cannot cut taxes for rich people like them…

… until poor people like This Writer (and, no doubt, yourself) have paid off the costs racked up by his government in coping with Covid-19…

… nonexistent costs, let’s not forget (the money was created by the government, not borrowed)…

… most of which went to Conservative donors who, after avoiding the tendering process by using a fast-track system for friends of the Tories, then provided absolutely nothing in return.

So, after the billionaires have kept public tax money for themselves and taken public cash under false pretences, they now say they’re paying too much tax and want the poor to cover any costs they have incurred. And Sunak is apologising to them for not doing this.

This looks like misappropriation of funds on a global scale.

And Sunak’s offer to cut taxes after the nonexistent bill is paid makes no sense at all, for an obvious reason:

Sunak and his forerunners should have closed all tax avoidance loopholes in the 11 years since they have been in office but they haven’t. Is that because they have benefited from millions of pounds in donations from the people we now see have avoided paying trillions of pounds in tax?

That looks like a “yes” to This Writer!

He tried to cover it up by focusing on Brexit, saying that we’ll see the mythical benefits of leaving the European Union in the long term.

I think we all know what Brexit was really about – don’t we?

Weirdly, the same Chancellor who has immorally handed billions to Tory donors via failed Covid schemes, and trillions to them by allowing tax avoidance, thinks such actions are perfectly reasonable.

To him, it would be immoral to take cash from them – that they want to lend – in order to fund, say, an anti-poverty strategy:

No – he thinks poorly-paid workers should simply get better jobs, as though that is the easiest thing in the world. Clearly he has never had to try to do it himself. And he conveniently forgets an enormous hole in his own logic:

Oh but – he said – the UK economy is recovering faster than anywhere else in the world!

But there’s a reason for that, isn’t there?

Sunak’s speech was not that of a man putting forward a sensible policy – because it isn’t sensible.

So what was he doing? I think Clare Hepworth has it right:

Sunak wasn’t discussing serious plans to deal with current economic issues – he was auditioning to replace Boris Johnson as prime minister.

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

https://www.crowdjustice.com/case/mike-sivier-libel-fight/


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Graph shows how Osborne’s ‘One Nation’ budget attacks the poor

150711budgetimpact

George Osborne’s claim that a boost to incomes from his National Living Wage would leave ordinary families with a higher standard of living is bunk, according to the i paper and the Institute for Fiscal Studies.

The IFS said the budget would make the poorest 10 per cent of families about £800 a year worse off by 2019, while the next-poorest 10 per cent would suffer a greater loss as their annual incomes were slashed by £1,100.

The regressive nature of Osborne’s changes is revealed by the fact that the richest 10 per cent of families will see their incomes fall by only £350 a year, while the second-richest 10 per cent will lose virtually nothing.

“Child poverty is expected to shoot up and the majority of losers from the squeeze on tax credits will be people in work,” the newspaper stated.

And IFS director Paul Johnson pointed out that the £4 billion aggregate increase in employment income from Osborne’s £9-per-hour Living Wage would not compensate for the £12 billion cut in social security. Both are to be in place by 2020.

Osborne’s budget is more like Pandora’s Box – the more we see of it, the worse the evil that comes out of it.

Follow me on Twitter: @MidWalesMike

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