The Labour government that started in July 2024 started what was presumed to be a period of austerity, but soon after elections in which the Reform Party won 10 out of 16 local authorities the tune changed. More than 10 billion Pound for Mauritious, an undefined amount of money for Volodomir Zelensky, the promise to buil 6 ammunition factories, to build 12 nuclear submarines, to acquire jets capable of launching nuclear weapons and the list goes on.
Nor the British Prime Minister, or the Chancellor of the Exchequer, or any other member of the Cabinent has been willing to tell the British people where the money is going to come from.
Where is the money coming from? A new term has been coined. Following QE Quantitative Easing, now comes QT Quantitative Tightening. The Bank of England is selling expensive bonds of public debt for lower prices and the Treasury has promised to cover the losses of the Bank of England. So monies that could have been used to finance better living standards. So, not enough money for disabled people, no money for schools, no money for the health service that the Labour Party has classified as "a wasteful NHS".
Tomorrow´s decision in Parliament is very much linked to so called QT. We do not know what is going behind close doors, but we do know the Electorate´s reaction. Both Labour and Conservatives were massacred in the polling stations during the 2025 elections and 2026 could be an even more disastrous defeat for both Labour and Conservative.
Business activity in the United Kingdom has gone down 40% and there is a list of food chains closing branches across the country, as the number of cases of shoplifting goes up steadily. More taxes? More borrowing?
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