Someone has to pay the price for Covid and Brexit
IT’S not that long since former chancellor George Osborne insisted austerity was essential to balance the books. Theresa May let us in on her secret that there’s no “magic money tree”. It seems both were doomsters. Despite the looming post-covid and Brexit financial meltdown, the Prime Minister bluffs and blusters, denying the need for more austerity. Despite the “sobering” figures, the Chancellor’s Spending Review side-stepped both austerity and Brexit. A forest of fastgrowing money trees must have been planted since Mrs May. Don’t forget the additional £16.5 billion for defence ripening on the low hanging branches.
Mr Johnson can be optimistic; it’s unlikely he’ll be around when the chlorinated chickens come home to roost. Getting Brexit done has been an excellent preparation for post-downing Street appearances on Fantasy Island and Would I Lie to You? The Chancellor already suspects when the music stops, he’ll be left holding the multi-billion-pound debt parcel. Last time, the weight of austerity crushed those who could least afford it. The “undeserving poor”, including the young, unemployed, sick, disabled and homeless continue to suffer the cruelty of Universal Credit, albeit temporarily enhanced. The Chancellor’s review spoke of “levelling up”, implying degrees of fairness noticeably absent from his party’s previous economic measures.
There’s not much levelling up when around 60,000 under 25s lost their jobs between July and September. There’s to be no austerity? Tell that to the 1.3 million public sector workers facing a wage freeze. You can’t spend a round of applause. The elderly shouldn’t be complacent. Perks like triple lock pension increases and winter fuel allowances have survived this time, but their days may well be numbered.
Injustice and non-accountability run through Mr Johnson’s government like a stick of Blackpool rock. His smug “pride” in the shameless cronyism of non-competitive Covid contracts tells us all we need to know about the Government’s modus operandi.
The eyewatering bill for Covid and yes, Brexit, will have to be settled sooner or later. We all need to do our bit, and that includes better-off pensioners. This time though, the burden must be shared more equally. The Chancellor will have to grasp the nettle of substantial tax increases for example on those who have profited hugely from the pandemic. But, will fairness provide the foundations for “build back better”? Don’t put the mortgage on it.