Thread by @BernieSpofforth

1/ Why I back #AxeTheTax and suggest they:
▪️Remove ALL green taxes immediately
▪️Stop any interest rate rises
▪️Cancel the NI tax increase
▪️Lower corporation tax

If they don't they are incompetent or deliberately forcing through policies that will destroy small businesses.

2/ Lets talk about business. 99% of all businesses in the UK employ fewer than 10 people, but account for two thirds of employment & over half the UKs revenue. Many business owners have loans taken out against their own homes & are just surviving after the lockdown chaos.

3/ Private businesses aren't the big bad enemy of the people, they are employers of the people. If they lose money they will cut costs in order to survive. One of their costs is us, the people they employ.

4/ The average household will not only have to find nearly £3400 per year extra for home energy but even more for every product and service they need. (You can see why they want a pay rise).

5/ However, with the increases in costs and lower consumer spending, those small private sector businesses can’t afford to pay higher wages to keep up with inflation, they simply don’t have the profit.

6/ The average employee will see increases in all discretionary and non discretionary items, from food to school uniforms, from bus fare to school lunches, from hair cuts to washing powder. All require energy & so all these businesses have the same problems as those households.

7/ A small factory in the UK that last year spent £8k per month on electricity and is now having to spend £27k per month on electricity, it is running at a loss, the only thing they can do is cut staff or close down. They certainly can't give wage rises.

8/ The Bank of England will increase interest rates. They say they do this to keep prices from rising, but you can't stop price rises when the costs of manufacturing have increased. The squeeze from both ends will simply serve to bring the economy to a halt, if we are lucky!

9/Rishi Trudeau with his employment experience in Goldman Sachs, seems to have no grasp of how small businesses run, their reliance on juggling cash & vulnerability to the energy price shock. Without these businesses paying staff the government will have to pay them instead.

10/Higher unemployment will mean an increase in government spending, as the welfare state grows ever larger and as more people become unemployed, which will drive tax income down. it's a never ending downward spiral.

11/ The government is currently realising far more in tax than it planned for sue to the steep rise in energy, fuel & product VAT. They are getting more from the pumps and more from energy companies. About £30 billion more than it expected. How's that for a windfall.

12/ By converting the costs of lockdown & war into long term “Covid/war debt” they spread the costs for longer, freeing up money to afford to cut business tax. This doesn’t mean small businesses will get richer, it means that they may be able to offset the increases & keep staff.

13/ We are hurtling towards a recession that I predicted in 2020 would become a depression and believe me I'm very fucking depressed to be proved right.
I'll be more depressed if it's what they wanted all along.