Autumn Statement: Is it too Late For Tories?

For many voters their minds have already been made up, however the Chancellor’s Autumn Statement and budget may sway those who only think of short term things regarding monetary bribes by the Tories. Yes, there has been some recent movement away from socialism for the Tories, but one can only think it is a little too late and not a sizeable move away from their core socialist values.

Huge Stealth Tax Increases

To give with one hand yet take away with another is a tried and true technique successive governments have employed, and this time the Chancellor did not disappoint. The UK according to the OBR still has the highest tax burden since 1948.

Dividend income is attacked in two ways, first through the extra 1.25% charge on dividends (left over from the Health and Social Care Levy – otherwise withdrawn), and second by cutting the tax-free dividend allowance from £2,000 to £1,000 in April 2023 and £500 in April 2024.

The freezing of income tax personal allowances until April 2028, and the reduction of the additional rate threshold from £150K to £125,140 means a lot of clients will be paying more income tax!

The government will also reap huge revenue from the hated Inheritance Tax. HMRC’s latest update show that £4.6bn was collected through the first seven months of the 2023/24 financial year (April to October). This is a 12% increase on the £4.1bn collected in the first seven months of 2022.

Council tax increases are also going to rise at an exponential level to make up for the shortfall from central government funding as well as the huge increase in immigration.

The immense level of tax taken from cash cow road users will also not be alleviated in any way. Every time you fill up your car/van/lorry, 85% of that money goes straight to the government in fuel duty.

Electioneering

Bribing the fickle electorate by lowering taxation momentarily is the deal here, and is all part of the electioneering process. The coming May 2024 General Election will be another exercise in false promises and temporary tax decreases to placate the low-information voters. The Tories, led by the unelected Rishi Sunak and unelected Jeremy Hunt, will no doubt turn the tables on the suckered voters if they win again.

Interest Rates Will Not Drop

The key observation to take from this is that Net Zero is one of the main causes of high inflation. This is why taxes will have to stay high along with interest rates simply because of the Net Zero program, which will impoverish and eviscerate many businesses and the general population within the economy.

Government borrowing is also at an all-time high level, and the Tory government have spent and spent almost as much as Labour spent during their awful tenure.

Same Old Lies

Pulling the wool over people’s eyes is always the case coming up to any election, and giving people false hope that things will change for the better is another tool for the Tories to use against the people.

As in all election cycles the lies will come thick from all sides, and whoever wins is inconsequential because the entire system is run by the same people behind the scenes irrespective of what ever political party is in charge at any given time.

With ONS figures showing legal net migration of 745,000 in December 2022, and 645,000 in June 2023 primarily from India/Nigeria under the Tories which will put immense strain on all public services and cause the NHS to buckle, taking back UK’s borders seems to be a joke that seals the fate of the Tories. The sizes of two cities like Birmingham given the okay to enter the UK.