While there’s moonlight and music and love
let’s face the music and dance. As the song goes.
The past financial year has seen many companies look at their books and make some key investments in AI and future proofing their industries. America and Europe have seen a similar climb to the UK, leading to wage increases unseen for nearly fifteen years, when the banking crises hit the global economy bank in 2008.
Redundancy rates are rife in many industries, while vacancies are looking for people who can hit the ground running. Companies are struggling to protect work forces and customers. Times are still tough and likely to remain so entering the new financial year.
All companies are looking at their costs and seeking ways to ensure they can maintain growth in a smaller and harsher economic environment.
So it seems odd that the UK government is choosing now to lower national insurance rates. This weird tax in the UK was designed to fund the NHS and the welfare pot. You had insurance, while working, to pay for health-care, etc.
No-one enjoys paying tax, but many in the UK feel a bit cheated as the government is funding less and life is harder, while not asking the rich to pay. More importantly, by maintaining income tax thresholds where they were three years ago, is moving the tax burden more on to the young and less comfortable in society.
Economically, I’m right wing: I would like the government to own natural monopolies and maintain infrastructure and provide welfare and opportunities for education. That means the people most able, need to pay taxes. What I’d really like is an honest and morally incorputable government making the best decisions of the world country.
Times may be tough, but is not that how it should be?
Posted: March 9th, 2024 under 42.