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The markets only react if they think there is risk. The fact that runaway inflation has caused enough of an increase in tax receipts to cover spending with a surplus means there is no increased risk. The new tax rises can therefore be spent wholly on benefits without any increase in borrowing, again minimising risk to existing treasury bond lenders. -
I doubt it! They lost £11m in the last year on revenues of £47m They blame it on the current economic malaise. I doubt anyone could turn that round.
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I’m not denying taxes were raised im saying they weren’t raised just to give it all away on “benefits” and I backed that up by saying if they did the markets would have reacted very differently -
That’s exactly what the budget did. You do realise the impact of tax band freezes? That’s precisely how she’s raised taxes. And tax on property income and dividends; but less of a money spinner
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