Chopping Britain’s legs off with spending cuts and tax rises in a recession would only intensify the recession and sharpen the pain.
Rishi Sunak and Jeremy Hunt digging a deeper black hole is the failed voodoo economics of fiscal Conservatives who’ve learned nothing from past errors.
And that’s a challenge for Labour’s Keir Starmer and Rachel Reeves as they shape an alternative plan to a Tory Party that crashed the economy.
Increasing not reducing spending on key services and benefits would grow an economy forecast to shrink for two years.
If taxes are to be raised, the rich can afford to pay but clobbering those on low and middle incomes would pile on the agony.
PM Sunak and Chancellor Hunt’s mini-Budget on Thursday the week after next, 17 November, is shaping up to be a disaster.
Talk of spending cuts and broad tax rises would repeat the mistake of David Cameron and George Osbonre in 2010 when a £12billion VAT grab and scythed investment destroyed a promising recovery inherited from Gordon Brown’s Labour Government.
Labour did fix the roof when the sun was shining then the Conservatives took them off hospitals and schools when it was raining.
Starmer – preferred by the nation as PM over Sunak – and Reeves will go for the Tory jugular.
Tesco’s boss thinks Labour and not the Conservatives are creating a credible economic vision.
To seal the deal the electorate wants to see the colour of Labour’s money.
With a General Election unlikely before late 2024 which could be two years away, policies will evolve.
But winning the argument next week that cutting in a recession is economic suicide is crucial
Tories doing the same time after time and expecting a different outcome is insanity.
Hammering Sunak and Hunt’s blunders will capture hearts and minds.
