In this episode I outline how your money has been transferred to the wealthy, how your pensions are at risk, how your environment is at risk and ask whether Investment Zones are corporate fiefdoms. High Five to Michael Russell for some wording.
Forum discussion here: https://richardsonsrubicon.com/community/episode-topics/stop-britain-from-being-sold/
On this episode of Richardson’s Rubicon, host John Richardson delves into the controversial topics of investment zones, free ports, and charter cities. There are concerns about the impact of these investment zones on the environment, as evidenced by pollution and dead sea life washing up on the northeast coast. However, past performance by the Tories raises doubts about their trustworthiness in presenting these packages, and proper scrutiny is needed before accepting these proposals.
The effects of Kwarteng’s tax cuts are also discussed, which include a record low in the pound and the Bank of England intervening with 65 billion pounds to support pension funds. Private pensions, lending institutions, and landlords are all at risk. Additionally, Simon Clark, the Levelling up secretary, believes there will need to be significant cuts in public spending and suggests that Britain should prepare for a new age of austerity.
The lack of scrutiny and analysis is concerning, and major reforms should be carefully analysed and voted on before implementation. With the overall cost of certain recent events totalling over 110 billion pounds, taxpayers are the ones who will have to cover this cost. The mini budget fiscal event announcement gave tax cuts to the rich and cut welfare benefits for the poor and vulnerable in society, which is unfair and needs to be scrutinised. Tune in to this episode for an eye-opening look at the realities of these proposals and their potential impact on the UK.
Summary of “Richardson’s Rubicon” podcast episode:
– Introduction of investment zones, free ports, and charter cities with some criticism due to lack of proper scrutiny and past performance of Tories.
– Reflection on previous fiscal event Kwarteng’s tax cuts, which had negative effects on the economy and pension funds
– Discussion of the lack of transparency and scrutiny around the changes and policy proposals made by the Tories
– Analysis of investment zones, tax incentives, and their potential impact on the environment and ordinary people
– Criticism of Tories’ track record, including their transfer of large sums of money from taxpayers to the wealthy and the proposed cuts in public spending
– Concerns about the future of the state pension and trust in the Tories’ ability to handle economic policies
– A possible windfall tax on energy companies is suggested to alleviate taxpayers’ burden caused by the fiscal event
– Critique of the mini budget fiscal event, which gave tax cuts to the rich and cut welfare benefits for the poor
– Calls for more scrutiny and accountability in the Tories’ policies and proposals.
[00:00:00] Podcast episode discussing the “Fecal Event” that caused market panic worldwide due to uncosted tax cuts announced by Kamikwazi. Truss admitted fault but attributed it to the need for quick action.
[00:00:54] Major tax cuts introduced without parliamentary scrutiny, causing shock and lack of transparency.
[00:02:23] Investment zones and free ports are being presented positively, but scrutiny is needed due to past Tory failures and potential drawbacks. An unpopular fiscal event involving tax cuts led to negative consequences in the past.
[00:03:27] UK taxpayers have spent over 110 billion pounds on tax cuts and interventions which have predominantly benefited the rich, while cutting welfare benefits for the poorest and most vulnerable. It may have been better to instead issue a windfall tax on energy companies and nationalize the tax burden.
[00:04:41] UK state pension classified as benefit in 90s by Liz Truss. Tories’ handling of pension raises trust concerns, evident from sell-off in financial markets.
[00:05:38] UK government’s policies put pensions at risk, prompting the Bank of England to intervene. Trust in the government is at stake.
[00:06:31] Private pensions at risk, panic in lending institutions, landlord class could benefit, significant cuts in public spending predicted for new age of austerity.
[00:07:21] The Tories shifted £110 billion from taxpayers to the wealthy and are now planning austerity measures. They want to create investment zones to boost the economy, despite Covid still affecting hospitals. The right wing needs to be stopped.
[00:08:09] New investment zones offer tax relief, but may ignore environmental protections and decrease employment rights, as evidenced by pollution in the northeast.
[00:09:21] Concerns about new government policies attracting businesses and tax revenues dropping, questions about how services will be maintained, and worries about lack of democracy and control for residents.
1. Britain Ramping Up Low-Tax Zones to Help Save It From Stagnation – Bl…. archive.ph. Published September 25, 2022. https://archive.ph/kmtVd
2. Lawson C. Charter Cities: The Real Reason for Brexit and the Bigger Picture. Medium. Published August 14, 2022. https://medium.com/@cormack.lawson/charter-cities-the-real-reason-for-brexit-and-the-bigger-picture-4de80dbb69fb
3. Mazza J. Dead crustaceans on North East coast: the next chapter. North East Bylines. Published August 11, 2022. https://northeastbylines.co.uk/dead-crustaceans-on-north-east-coast-the-next-chapter/
4. Crerar P, editor PCP. Early Liz Truss comments on scrapping benefits stoke fears of further cuts. The Guardian. https://www.theguardian.com/society/2022/sep/30/early-liz-truss-comments-on-scrapping-benefits-stoke-fears-of-further-cuts. Published September 30, 2022.
5. Andrew Lilico [@andrew_lilico]. I don’t agree with not uprating benefits in line with inflation. Benefits should rise, & they should be raised early, with inflation so high. If the govt needs spending cuts (which it does) it should cut NHS spending, not benefits. Twitter. Published September 30, 2022.
I don't agree with not uprating benefits in line with inflation. Benefits should rise, & they should be raised early, with inflation so high. If the govt needs spending cuts (which it does) it should cut NHS spending, not benefits.
— Andrew Lilico (@andrew_lilico) September 30, 2022
6. NeilMackay [@NeilMackay]. I think there’s a genuine – and very difficult – conversation to be had about what action a population can, or should, take to defend itself against a government which is wilfully working against the interests of the people. This is not meant to be rabble-rousing Just a question. Twitter. Published September 30, 2022.
I think there’s a genuine - and very difficult - conversation to be had about what action a population can, or should, take to defend itself against a government which is wilfully working against the interests of the people. This is not meant to be rabble rousing. Just a question
— NeilMackay (@NeilMackay) September 30, 2022
7. Liz Truss admits “disruption” to UK economy but stands by forecast-free mini-budget. Sky News. https://news.sky.com/story/liz-truss-admits-disruption-to-uk-economy-but-stands-by-forecast-free-mini-budget-12708599
8. Elgot J, Mason R, Allegretti A. Liz Truss to push ahead with unlimited ‘investment zones’ despite costs row. The Guardian. https://www.theguardian.com/politics/2022/sep/30/liz-truss-to-push-ahead-with-unlimited-investment-zones-despite-costs-row. Published September 30, 2022.
9. Editor SS Political Editor | Oliver Wright, Policy. Simon Clarke interview: ‘Truss is enjoying her chance to pull Britain out of its fool’s paradise.’ https://www.thetimes.co.uk/article/simon-clarke-interview-truss-is-enjoying-her-chance-to-pull-britain-out-of-its-fools-paradise-rndrm9kn6.
10. The Growth Plan 2022: Investment Zones factsheet. GOV.UK. https://www.gov.uk/government/publications/the-growth-plan-2022-factsheet-on-investment-zones/the-growth-plan-2022-investment-zones-factsheet