The biggest winners are corporations and the rich. As a result, the government’s borrowing will surge from £72.4bn, to £234.1bn, but won’t provide details of the impact on current and future generations.
There was more in this mini budget for bankers than there was for children living in poverty.
‘My brief visits to pawnshops are by no means a scientific study, but they do provide a glimpse of the tragedies inflicted by years of maldistribution of income and wealth, poverty, inequalities and obsession of privatisation which has left many teetering on the edge.’
So much for levelling up…
Among the hardest hit groups will be pensioners, with 86.4% of pensioner couples expected to fall into fuel poverty, along with 90.4% of lone parents with two or more children.
The news you didn’t see this week…
A roundup of progressive news…
Real household disposable income growth for working-age families averaged just 0.7 per cent a year in the 15 years leading up to the Covid-19 pandemic.
‘They are part of a growing international movement, perhaps a new kind of Cadbury and Quaker capitalism with a social conscience’
With war raging between the world’s largest wheat producers, the government’s choice to cut the international aid budget from 0.7 to 0.5 percent of GDP spells a dark period for the world’s most vulnerable.
