Time is awaiting for the British government to realise it has accidentally eliminated spending power. Utility and petrol bills have been rising above inflation. Baby boomers, widely forecast to spend their life savings when given access to pension pots, seem to be spending it overseas. Oh dear, what have I said? The next move will be to limit spending abroad.
Sterling is already sputtering, but worse, millionaires are deserting us for less specifically taxed climes. The tax on second homes will mean the decision about which country to send one’s children to university, is no longer a foregone conclusion. The £30,000 tax on foreign employees already means that young financial whizzes can be more profitably taught in non-English financial centres. The British government, namely Mr Osborne and conspirators, should not meddle in industries they cannot fathom.
Welfare benefits have been so much cut, especially amongst the deserving disabled, that they are no longer spending beyond necessities, if that.
I suggest Mr Osborne fills his £4 billion spending hole by not building the HS1 railway, which in an 19th century way, uses track and wheels. At least investigate the Japanese bullet trains and maybe boost their economy at the same time. As of 1992, they take 23,000 people per hour in either direction, whilst HS1 may manage 23. Some legacy that white elephant will be.