WELL, am I the only one to see what the Budget means ?
If you increase the costs of businesses who employ people by putting up National Insurance and the minimum wage, what do the business owners do? Reduce their profits? Reduce investments? Or do they increase the amounts they charge for the services and goods which they make and sell? Or will they reduce workforce? Or the hours that workers can work?
Do they lower the compensation enjoyed by the management and CEO? Do they risk shareholders’ cut of the profits?
READ MORE: Labour Budget raises '£500 million question for Scotland', First Minister says
The government made up some “fiscal rules” and then got the IMF to smile on the changing of them because the rest of the world sees how far the UK has fallen.
The rule change lets them borrow to invest they could have done that ages ago. Where will all that money go? Will it trickle down? Well, one might hope, but what history says is that the money will end up rising up to those who already have most of the money.
I wonder how much it will cost the NHS to try and fix up the cold old?
I wonder why, if Reeves was going to bash business with 15% National Insurance, she bashed the pensioners? When she could have said “business, I am bashing you so I will bash you at 16%”. We will all pay the higher prices later.
READ MORE: How will the Budget affect me in Scotland? See the key points
They borrowed money to invest because they say that will bring growth. Of course, more money for the wee folk at the bottom of the pile and “bubble up economics” would kick in. The people at the top get the money in the end, but us at the bottom of the pile get to use it before they do.
If you borrow for investment, a few extra billion to invest in the people would have made no difference to the national debt – it is too huge to comprehend anyway, and will never be paid off, but it is yet again pain today – maybe there will be some jam sometime in the future.
A nice dollop of cash for the Ministry of Defence – there is always money for bombs.
Brexit Britain is a basket case. I would urge anyone reading this to take a look at Lesley Riddoch’s series of films about Denmark, Faroes etc. Take a look and see how some of the other half live. Take a look look through the economics page at www.spvr.org. I am not one who thinks the other woman’s grass is greener but Scotland, we have run out of grass. Our resources are vacuumed into England and I and my fellow pensioners live in fear of the thermostat.
READ MORE: Lower pay rises likely as result of Budget tax increases, Rachel Reeves admits
Fellow Scots, it need not be like this. There are countries without Scotland’s resources that offer their citizens a better lifestyle. The jam tomorrow is nonsense. To chase the ridiculous idea of growth at the expense of the “wellbeing” of people I find obnoxious.
Money is a human invention, fiscal rules are a human invention, life and living are not human inventions.
Will it all make any difference? Well, I don’t think so, I expect most of this money will be blotted up by the catastrophe of Brexit and the Tories. Then the inflation which is bound to happen will suck more of the life out of us. Bankers will get more bonuses and shareholders will take a good cut.
You can give money to the NHS but are there doctors and nurses available to do the work? You can give money to build buildings but are there the bricks and the bricklayers to put them all together?
They sit in parliament in their smart suits and wages of £91,346 plus expenses. I sit at my computer (thank heavens for it) in my overcoat, fleece-lined trews and hat because I am terrified of the thermostat.
Cher Bonfis
via email
THE biggest Scottish budget allocation increase since devolution is being trumpeted. This is a good Budget – yes? Let’s dig into it.
During the earlier years, pre-Covid, the gradual squeeze of austerity applied liposuction to remove the fat from business and family economies, making them faster, slimmer, more nibble. For some, maybe, but others are already down at fighting weight, and the squeeze is now attacking muscle-mass.
READ MORE: Scottish Government gives cautious welcome to Labour Budget
Then Covid erupts, and in the following several years the inflation rate rises up to 4.5% then near 10% for one year back down to 4.2% in 2023, then 2.0% this year. These inflation rates attacked the fit and healthy and those in poor health.
A clinician observing a malnourished patient would advocate steady recovery to rebuild the muscle mass, and fitness regimes with regular doses of investment.
This Budget has investment baked in, but it tapers off in future years and the Office for Budget Responsibility comment that a cliff-edge looms in about three years.
So, I this a good Budget for Scotland? As Kenny Dalglish has often commented, “maybes aye, maybes naw.”
Alistair Ballantyne
Angus
WORLDWIDE the public are facing a fast growing problem. How do we deal with the dictatorial politicians of major economies who appear to be deranged? James Walker covers an interview by the impending President of the US (Trump intervenes in independence debate with wild rant, Oct 31). Have the American people been brainwashed by mega money? Should Trump be successful, Bonfire Night could be well named.
He is not alone, his support for the Middle East war is an example of the danger we all face from a number of world leaders with his type of mindset.
The dramatic floods in Spain should serve as a final warning. The 11th hour and 59th minute is close. Dealing with the speed of climate change should top any sane leader’s actions. Unless the wealthy nations redirect their taxations from spending on bombs to cutting down their CO2, usage mankind and the environment will pay.
Wednesday’s Westminster Budget is only one sort-sighted example. Action, Holyrood! Scotland must lead with its own enlightened independent taxation system.
Iain R Thomson
Strathglass
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