Labour's Unhappy First Birthday

Well it's been 1 year since Labour rocketed to power with a super majority.  However 1 year on it's clear it hasnt been a happy year for Labour.

This post is more about Rachel from Accounts that our illustrious Leader.  Two Tier has been too busy checking out his free gear to be bothered with being a leader.   He has gone from being the smug newboy to a rather pathetic looking schoolboy who realises he's out of his depth.   Reflect on starmer's day 1 speech. 

Also it's worth reviewing where we were before Labour's inheritance

So what's happened in the first year.

Well Two-Tier and Rachel made us feel miserable about the state of the economy.  They did a fabulous job of making us believe the economy was in worse state than it really was.  We believed them and the economy then started to slump.

Rachel managed to find the fiscal blackholes that she had created.

Labour then managed to alienate old age pensioners but then they probably ended up spending more than it saved and Rachel did a big U turn anyway and councils were giving pensioners the money anyway.

Labour woke up to the fact that they had talked us into recession so changed their tune. Suddenly we were the G7 engine of growth ! Britain is the best place to do business.

Rachel has been bleating on her fiscal rules but somehow she managed to find £10 BILLION down the back of the sofa through creatively ignoring her fiscal rules.

So the cost of borrowing was about 4.1% when Labour came to power on a circa £2.7 TRILLION debt. Since then the cost of borrowing has risen to 4.5% - this means BILLIONs more in interest payments even if they didnt splash the cash (which they have been).   Interest rates spiked to nearly 4.8% this week as a result of the tears from the clown.  Very expensive tears Rachel....my calcualtions they cost the UK economy £44Million.

Then we heralded in the Autumn budget which was business unfriendly. So much for business being the engine of the economy.  We have seen more businesses going under either voluntarily or through bankruptcy.  We have seen unemployment rise.  Growth has contracted.  Business confidence is collapsing.  Tax revenues are set to fall when we need them.

Targetting of non-doms has resulted in 1,000 millionaires per week fleeing to countries which like the rich.  Countries like Italy.  Given the top 1% pay 29% of all tax, these the exact people we can least afford to lose. Yet Starmer wants to tax those with the broadest shoulders. Well the broadtest shoulders are now paying zero tax to the UK government as they live in Italy.

Well the Chagos deal needs little introduction.  A perfect example that Labour cannot do basic maths.

Yet Rachel says the economy is the fastest growing in the G7 when the next day after her U-turn Rachel spending review and her unbeat crowing about how well the economy is doing, the ONS released it's April data showing depressing contraction in the UK economy - completely at odds with her messaging.

If this is the damage that Labour can do in one year.  The country will be bankrupt by the end of their term in office.....

Happy birthday Labour.





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