Sum you win
IT is the bailout Britain badly needed — and bigger than many dared hope. We congratulate Chancellor Rishi Sunak.
A generous four-figure bung to the poorest, and substantial sums for most households, will make a real difference to a nation battered by astronomical bills.
We congratulate Chancellor Rishi Sunak on bailing out Britain[/caption]
Rishi left it late.
But it does him credit that he realised the inadequacy of his previous Budget and, yes, even agreed a one-off windfall tax to which Tories — especially a supposedly “low tax” Chancellor — are normally allergic.
These are not normal times. Tories aghast at hitting oil firms’ mind- boggling profits must remember that.
In two years the global economy has been smashed by a once-in-a-century pandemic and the gravest war in Europe since 1945.
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A windfall tax is a desperate measure necessary in desperate times.
Labour gloat that it was their idea.
But of course a windfall tax comes naturally to socialists for whom “profit” is a swear word and hiking public spending the very point of power.
This is what they would do even in good times.
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The Chancellor’s version is far more considered and skilful.
And politically it leaves Keir Starmer — his cupboard now bare — in the unfortunate position of having to think up a second policy.
But while this emergency £21billion injection looks vital to prevent millions facing hardship, it is not problem-free.
First, we can only pray the giveaway doesn’t fuel inflation, already rampant.
Second, what the nation needs most is tax cuts to kickstart growth.
Mr Sunak must be preparing these now.
The highest burden in 70 years is suffocating the economy.
That IS un-Conservative.
Third, and worst, is the danger that a nation kept afloat by borrowing £400billion during Covid, and now bailed out again, starts to believe a Corbyn-style “magic money tree” really CAN cushion them from the harshness of reality.
That delusion leads to a bankrupt Britain. Mountainous debts must be repaid.
Lure of Britain
FUNNY, isn’t it, how Britain — “despite Brexit” — is just as attractive to migrants as ever . . . and especially skilled ones?
Yes, it is shameful how little infrastructure we build to cope with an annual influx of 239,000.
But today let us merely note that skilled migrants now flock here from around the world while unskilled ones from the EU can’t.
It was one of the central cases for Brexit.
And, for all the Remainer whingeing, it has been delivered.
HOW fantastic to see Abba finally reunited . . . tinged only by the sadness that it really will be the last time.
Those who remember their heyday never thought we’d see them again.
Abba finally reunited for what will be the last time[/caption]
Yet here they are . . . re-Bjorn.