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Bylines Network
@bylinesnetwork.co.uk

The real crisis isn’t the budget. It’s that the UK is smaller, older, poorer, sicker, more indebted and less productive than it wants to admit. #Labour #UKPolitics @eastangliabylines.co.uk @stephenmcnair.bsky.social

eastangliabylines.co.ukHow dire is our situation? It’s worse than you thoughtPeople are disappointed by this government. But the financial situation is much worse than most people realise. Does government dare tell us?

69 reposts237 likes

M Martínez Lucio
@mmartinezlucio.bsky.social

Good piece outlining the challenges at various levels but the responses vary and the approach by Reeves is high risk and there are alternatives. It’s not just a question of confronting the truth but accepting that redistribution and public intervention is the way ahead.

Aleksandar Hummel
@haleksandar.bsky.social

The end of the Cold War came with the devaluation of the pound (courtesy G Soros) on the back of economic disaster of the US "fixing" its trade imbalance (by dollar devaluation) and exporting unemployment abroad (as they're trying now). Growth was really a recovery post collapse. Lucky debt was low.

Aleksandar Hummel
@haleksandar.bsky.social

Following this recovery EU grew into a super-regulatory octopus that means protection of market incumbents, lack of competition and consolidation (as in US viz monetary stimulus), stagnation and pressure on public finances counter-weighed by a wrong kind of fiscal discipline (disastrous VAT system).

Aleksandar Hummel
@haleksandar.bsky.social

Britain invented #bitcoin before there was bitcoin, it's name is London real-estate. It's a hard currency amid stimulus and defunct construction. Cost of some "preserving" wealth is borne by the economy (adding ever more costs). The true reason of #inflation and economic weakness is #inequality.

Aleksandar Hummel
@haleksandar.bsky.social

In response, profits need to bear the largest burden of tax - becoming taxed progressively. Corps taxing all should get taxed themselves. This'd encourage modularisation and in turn consolidation and competition. Then pub. investment in housing, and - universal income to capitalise entrepreneurship.

Aleksandar Hummel
@haleksandar.bsky.social

The #EU is the reason for the mess in the first place, the Single Market is regulated - replaces competition with planning and rules and decides winners. Only thing UK has lost is access to a crony market. Drop the EU rules, complete #Brexit. So that we outcompete them and can overcome any barriers.

martinpb66.bsky.social
@martinpb66.bsky.social

Decades of asset stripping by the City of London and the poisoning of the private sector by easy profit in public sector because politicians seem it as a way to abdicate their responsibilities and easy money jobs for them when they leave office

irisheye61.bsky.social
@irisheye61.bsky.social

Brexit , Brexit , Brexit , Brexit , Brexit Keep saying it. It is a millstone around the Neck of the UK economy. Productivity is in the Toilet & lags seriously behind Ireland . So big was the mistake that the UK gave away being the Gateway into Europe . The Irish picked it up & ran with it