The Budget on November 26 is set to unleash more pain and misery as Labour targets the hard-working to fund a rising welfare bill.
It will surely come as no surprise by now that Labour cannot be trusted – least of all with our money. Rachel Reeves might be a one off but what she is about to unleash in her second Budget won’t be.
Last year the Chancellor hit Britain with £40 billion of tax rises in what she claimed was a raid never to be repeated. Her prophecy will turn out to be a fallacy come November 26.
Labour loves little more than to reward the idle while whacking the working, which is why it is shaping up to be the Nightmare before Christmas for those the party despises – the self-made, strivers, grafters, and savers.
For the honest and hard-working the worst of both worlds is inevitable – tax rises and spending cuts.
After last year’s cataclysmic Budget robotic Ms Reeves said she had no plans to raise taxes. Yet she is poised to plunder more.
For 16 months life under Labour has seen increased spending, increased borrowing, ballooning debt, and a welfare bill that defies all comprehension.
To put it bluntly we are bankrupt, broke, bust.
You might have thought contrition would be in order. Not a bit of it.
So far Ms Reeves has blamed the shambolic stewardship of the public finances on Brexit, austerity, and the Tories.
The truth is that when taxes ramp up again, the Chancellor will point the finger at anyone and everything except herself. It means we all suffer because of Labour’s ineptitude.
On her watch inflation has soared, wage growth has slumped, unemployment reached a four-year high, and business confidence has crashed through the floor.
The UK’s productivity performance has been downgraded and some say it is almost inevitable a recession will follow.
Tax rises and spending cuts are inevitable leaving millions worse off (Image: Getty)
Don’t be fooled by the pained expressions on Ms Reeves’ face. This is Labour utopia.
You are taxed for working hard to earn money, taxed on the interest if you are sensible enough to put money aside, taxed when you spend, and now face being taxed from beyond the grave.
Labour’s lopsided vision of a fairer Britain is to rob the strivers – namely anyone on more than £45,000 – to reward shirkers.
Almost one quarter of the UK’s working age population is now in receipt of some taxpayer-funded handout as the benefits bill is sent into the stratosphere.
The assault is no longer disguised. Labour’s definition of what constitutes a high earner means it has declared open warfare on the middle class.
While presiding over this lunacy Labour is hatching plans to cap the value of gifts someone can pass on before they die.
There is no charge on gifts if a benefactor survives seven years but a limit – potentially as little as £100,000 – could be introduced before tax is whacked on how much someone can pass on in another example of this spiteful government cracking down on ambition, ingenuity, and prudence.
We know this Government despises aspiration and purpose. It is why it gleefully removed VAT exemption from private school fees – a shamelessly ideological class war policy that has done nothing other than pile more pressure on a shambolic state system.
Labour cannot be trusted to keep to its manifesto which is why all bets are now off with income tax, national insurance, and VAT increases on the table.
Ms Reeves told the country to judge her on her record.
Well, the judgement is in. And post-Budget, for most of Britain come Christmas, it will most certainly not be a wonderful life.
