Rachel Reeves and her reckless mismanagement of the economy is costing Britain dearly as gilts have risen even over Liz Truss levels 0f 4.2%, causing government interest on debt rates to jump and inflation to skyrocket. Because it is the Labour government, and they are pro-EU, the Bank of England, Treasury and markets are keeping schtum. Needless to say, inflation is also rising at an exponential level and the BoE will have to consider holding off on interest rate cuts now prolonging the mortgage agony of millions across the country. Labour is squandering billions now on simply servicing UK borrowing debt levels.
Forget about the £22 billion imaginary black hole the liars in the Labour government concocted to go on a punitive tax punishment scheme that has further damaged the economy by stifling and throttling all business activity in the UK and effectively killing off the UK’s farming sector, Rachel Reeves is now presiding over the biggest economic disaster this country will ever witness in decades.
Britain is now in recession because of Labour, but things will get a lot worse, and we will be pushed into a deep depression lasting three or four decades.
Because of the sclerotic and inept arrogance of Rachel Reeves, UK borrowing levels will increase by an extra £7 billion on top of the £102billion already squandered in interest payments for the huge £3 trillion national debt along with the additional load she is taking on to fund the harebrained socialist schemes and huge salary/pension handouts to Big State civil servants and train drivers.
We have not even factored in Net Zero costs into this equation because those will further impoverish the UK by £321 billion, equating to a £20 billion cost per annum.
What can we all expect from this shameful fiasco?
Well, look at it this way, the supermarket shelves will either be empty or full of stuff no one can afford. Joblessness will increase as businesses cannot afford to employ staff, looting and shoplifting will increase due to desperation. Food bank usage will increase. Mortgage defaults will increase, and the housing market across the UK will collapse due to increased supply and no demand. High streets and shopping centres will become ghost towns, and eventually social care and benefits will be affected due to lack of money. Funding for the NHS will cease eventually causing mass discontent and death, and if you think waiting lists of three or four years for treatment are bad now, wait till you get no fucking waiting list, just nothing.
