This is the issue when gov always say 'we will pay it back next year'
Way the world is there's always an unexpected cost. Pandemic, now gas prices (food and everything really).
Those good times don't really seem real.
But what other option do they have? Apart from more debt?
We are on the decline for sure. I guess we just have to get used to more debt thus less cash for big projects?
I hate the waste that governments cause each year. From Hs2, to dogdy deals around covid ppe, etc etc. If we wanted less that would help.
We don't need to borrow (especially with rising interest rates), we can tax the very wealthiest who have greatly increased their wealth in the pandemic due to government and central bank policy, the top 10 have each doubled their wealth while the rest have increased their wealth by over 20% in one year:
https://www.standard.co.uk/news/uk/...illionaires-wealth-rise-pandemic-b936423.html.
Despite year of economic turmoil, 24 people became billionaires in UK during pandemic, taking total to 171
www.theguardian.com
Covid-19 has made the rich richer while poverty has increased, the charity Oxfam says.
www.bbc.co.uk
Taxes on vast swathes of land, huge properties and the purchase of mega-yachts are some ideas. The policies adopted by the central banks and governments have created rampant asset inflation and greatly increased the divide between the richest and the rest of us once again (this is unsustainable in a functioning and healthy society and will result in disaster if it keeps happening and ordinary people keep getting poorer).
We need to move to clean energy much faster to alleviate this crisis, but the government are stuck in the past and are happy to encourage profiteering fossil fuel companies to make record profits at the expense of ordinary people.
Also, the dodgy deals (corruption) have cost us many billions over the odds for goods that often are unfit for purpose and have to be thrown away (they were basically kickbacks of taxpayer cash to Conservative friends and donors). Brexit has cost many billions more and greatly exacerbated inflationary pressures and made them persistent, all for no appreciable gain. Unfortunately we need a government that is not corrupt and is willing to act in the national interest if we want to remedy this which is why I hope the Conservatives are decimated on Thursday.