A Useless Prime Minister14 Oct 2024 12:08
I held no brief for the Tory prime ministers since Cameron and rather despised Johnson's fundamental dishonesty, laziness and marital shenanigans. Johnson though does have the ambitious chancer's nose for others weaknesses and observed in late August that while the support for Labour was miles wide, it was only inches deep. So Friday's opinion poll showing a Labour lead of just 1% was almost expected. Though maybe a year or two down the line. Certainly not within 3 months.
The incompetence of Starmer is unbelievable, especially from a man who occupied a "Caesar's Wife" position as head of the Crown Prosecution Service, where his conduct had to be seen to be above suspicion. A whiff of corruption over the prosecution, or non-prosecution of an arrested party, casts a nasty shadow over the entire process. He had to know that "Freebies" for himself, his wife, and any of his ministers was an enormous No-No.
We have sat through a summer of pensioner bashing, public bickering over the state of the government's finances, £3,500 spectacles for the PM from a wealthy party donor, the defenestration of one very angry woman, Sue Grey, who had "Trouble" written all over her forehead from the moment she first appeared as a Johnson appointee (just like Cummings), and a PM whose public photographs resemble that of the school swot caught with his pants half-way down. All accompanied by a tsunami of leaks to the Press & TV.
Now we are into the Budget farce stage. Instead of silence, diligence, and the execution of a well-thought out plan, we appear to be in the midst of an "OMG, we've got to cover this £22B shortfall that we announced and we've painted ourselves into one helluva corner, by 'promising' not to touch income-tax or VAT for 'average workers'. Quick, what can we go for?"
Capital Gains Tax has been in their sights, but they ignore one vital point. CGT is optional. It's the opposite of a pay-packet. It affects a tiny minority of UK taxpayers, because the liability only arises when you sell something at a profit. Unless I have to sell a profitable holding, I won't, especially if the tax rate is raised to 40 or 50%. Meantime, by telegraphing the strong possibility, the astute minority of holders of large paper-profits have been analysing their assets and liquidating where necessary, so removing Ms. Reeves opportunities in 25/26. Besides the history of CGT, since 1965, shows clearly that at 20% investors don't mind sharing their profits with 11 Downing Street. Anything much more than that and we'll sit on our profits for a few years until the current Chancellor gets fired, either by the PM, or the electorate.
Talking of the PM, can anyone see this man leading his party into the 2024 election? What's worse, is when you look behind him. Weaklings all. The only person with credibility appears to be the elected mayor of Manchester and he's too intelligent to get involved with Westminster. Interesting times.