The big mistake with Chancellor Rishi Sunak’s budget is to take it seriously. But all British mainstream media commentators have, even the economically astute Allister Heath in the Telegraph, who described it as “a historic, epoch-defining rise in public spending financed by ruinous tax increases.”
Yes, Sunak’s budget is indeed suicidally destructive and the final nail in the coffin for anyone still stupid enough to believe that the Conservatives are the party of fiscal rectitude. It is, as Heath says, worthy of the master of pensions-raiding, gold-reserves-selling, wealth-sapping Treasury grand larceny, Tony Blair’s dour sidekick Gordon Brown:
The scale of the tax increases is staggering. The Chancellor raised another net £16.7 billion a year, following the £31.5 billion grabbed in March. This will propel the tax burden from 33.5 per cent of GDP before the pandemic to 36.2 percent by 2026-27, its highest since the early 1950s.
The picture on spending is equally grim: we are on course for a new normal of about 41.6 percent of GDP by 2026-27, the largest sustained share of GDP since the late 1970s.
The entire Budget was infused with neo-Brownite thinking. There was the conceit that capital expenditure is always a good thing (in fact it’s often wasteful) and the rebranding of everything as ‘investment’. Ever-shifting fiscal rules have spectacularly failed to constrain the runaway state: the national debt has surged since 1997, and they now merely help justify higher taxes.
All this is true. But it misses the key point: the destruction is not accidental but deliberate.
Anyone familiar with the Great Reset will be aware that this is part of a planned globalist scheme to crush small businesses, render more individuals dependent on the state, and ultimately to introduce, via ‘vaccine passports’, a biomedical state in which people are denied financial autonomy and forced to use central bank digital currencies with which their ability to spend is dependent on good behaviour. The model is the Chinese Communist Party’s social credit system. Rishi Sunak is merely a pawn in this globalist plan.
The only reason so relatively few people are aware of the scale of the horror coming Britain’s (and the rest of the world’s) way is that we have just been living through a Phoney War summer in which many of us have been deluded into imagining that normal service will be resumed shortly.
Boris Johnson’s supposed Plan B (more strictly enforced mask-wearing, more lockdowns, the vilification and marginalisation of those who refuse to have jabs and who are going to be unfairly blamed for any increase in “Covid” deaths this winter) was always the government’s Plan A. Imagine the effect that this new round of restrictions will have on the British economy.
Actually, you don’t need to imagine. Soon it will become all too obvious.
There’s nothing I would like more than to be proved wrong. Sadly I won’t.
Delingpole: COP26 Hyperinflation? Now Climate Consensus ‘Greater than 99 Per Cent’ https://t.co/mJeZghm1ub
— Breitbart London (@BreitbartLondon) October 26, 2021