This is not merely about economics so don't get your hopes up thinking that everything can be sorted with proper accounting. Decisions have been made in terms of geopolitics that have had enormous repercussions in Britain and elsewhere.
Everybody is trying to make sure that they are not the ones worse hit by the repercussions. We have got salaries whose buying power could evaporate. We have quite a few pensioners many of whom depend on a state pension that, despite promises about triple-locks, could find themselves struggling to pay for the basic necessities of everyday living. We have authorities in charge of delivering services with budgets that were limited when things were more or less stable.
When it comes to transport in London, for example, the Mayor of London has very little room for maneuver. If he agrees to demands made by those working for rail services, he will have to reduce support for bus services. Whatever he gives to John will have to be taken from Peter. How will local authorities cope when their bills go up with little support received from central government? January is not far away and January is the time of the year when travelling fares are adjusted 'according to the rate of inflation'. Everybody, whether they are involved in transport services or use transport services, will be hit. The impact of energy bills has been limited with funds provided to consumers until next April but such kind of support cannot go on indefinitely. The list of adjustments and re-adjustmens is extremely long and difficult to deal with in a single article.
Will the British government be forced to reconsider geopolitical stances? It is by no means justifiable to send valuable resources abroad when the country is facing a burden that is pushing more and more people below the poverty line, regardless of the fact that the present troubles have been self-inflicted.
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