For almost 300 days the UK Government has been doling out cash to prop up businesses and individuals who are struggling because of the pandemic. That can’t go on for ever, sooner or later all that money has to be repaid.
It’s a simple fact, you can’t keep borrowing for ever without repaying. We as a nation need to reflect on where that money is coming from. At the moment it’s our future and our children’s future, at some point taxes will have to rise and the rises are not going to be insignificant.
Remeber what Mr Micawber told David Copperfield . . .
‘Annual income 20 pounds, annual expenditure 19 [pounds] 19 [shillings] and six [pence] result happiness.
Annual income 20 pounds, annual expenditure 20 pounds and six, result misery’
So, continue to spend more than you earn and big trouble will come. If only our governments could wean themselves off the idea that debt is good because interest rates are depressed to ridiculously low levels.
Greedy Government
Government greed knows no bounds. Take a look at your pay advice and note how much the government takes before you see your money. Then look at how much you are taxed when you spend your money, for example 20% VAT on almost everything. Finally when you die the government creams of 40% of what you pass on to your children.
What we need is smaller government, less taxation and more chance to spend out money how we want.