If you have insane inflationary levels, a faltering economy, unions striking everywhere, and businesses going bust, increasing tax and interest rates will kill and stifle the economy. This is what the idiot Chancellor of the Exchequer is doing. Jeremy Hunt is strangling economic growth and killing off the private sector in Britain. Everyone knows that the private sector is the engine of the economy and is needed to pay for Britain’s large welfare state as well as basically pay for everything else.
Britain now is swamped with a huge wasteful government, a big state of wasteful departments that serve no purpose, quangos, civil servants working from the Seychelles.
Murdering the economy with high taxes and increasing interest rates creates a non-aspirational quagmire of shit. Forget about levelling up, thanks to the Rishi Sunak government of ineptitude and punishment there is no level anymore.
Singapore on the Thames? The economy in Britain is now worse than that of Russia, a pariah country due to its illegal invasion of Ukraine.
