Red Reeves and socialist Starmer have just delivered the biggest tax-raising budget in British history and with it the longest suicide note in Labour's political history too. Make no mistake this will be catastrophic for the economic health of the country. It is socialism at its worst high taxes, high spending and massive debts for future generations to repay.
This budget was anti-business, anti-aspiration, anti-wealth creation, and anti-worker. And despite their promises not to tax workers, they are, as they raised NI contributions for employers. Do Reeves and Starmer not know how the economy works? They certainly don't know how business works.
Not one of this current bunch of Cabinet Ministers has ever set up a business. No wonder they haven't a clue. But for clarity, both the independent Office for Budget Responsibility and the Institute for Fiscal Studies have come out to say 80 per cent of these employer NI rises will be paid for by the workers, through lower wages and reduced employment levels.
Reeves' raid on the unfairest tax of all inheritance tax will double the number of estates which have to pay it, and disgracefully will virtually make it impossible for family farmers (definitely working people) to pass on their businesses to the next generation. That will be disastrous for our rural areas and for our food security and all because of good old fashioned socialist envy. Despite these huge tax rises, the impact this budget will have on the country's debt is eye-wate.
