Labour isn't working - Thread 16

[TheNuthatch]

A chat thread for those who don't like this Labour government. 💙

The problem with socialism is that you eventually run out of other people's money.

Previous thread:
https://www.mumsnet.com/talk/_chat/5433563-labour-isnt-working-thread-15?utm_campaign=thread&utm_medium=share

Same.

It is going to end badly for these half-wits though - there is no way they can continue to get away with it. There will be some kind of reckoning.

I live in hope. 🤞

I know that feeling 😂
I love it when the ground is frozen and they come home clean.
Enjoy your 🍷

Is it 6.2% 😱
I thought it was going up by 3.8%. God that's even worse.

Good idea. How are they still going?

It’s bizarre.

There will be. Unfortunately - whilst assets are some protection, and I really, really wouldn't want to be dependent on the state when it comes - we will all be caught up in the reckoning.

You had me questioning my googlefu, so I just double checked and yes it's 6.2%
It gets worse. There will be an above inflation rise until 2029.

DWP news: Universal Credit benefit claimants set for 2026 income boost worth up to £450 | The Independent

It just took my breath away when I read it. I had no idea UC was going up that much.

I don’t know what people expect. You can’t challenge DLA/PIP. We have to pretend everyone is entitled, there is no fraud and we can keep funding the welfare state exponentially. UC, the Tories are blamed for this with no acknowledgement the rot started with tax credits. Who introduced them?

There are difficult questions about the welfare state that need answering and addressing. Same with pensions. If it keeps growing as it does via the triple lock, we will be completely bankrupt.

No demographic and no politician wants to address these challenges, it’s just expected the money keeps rolling in. I always thought it was a bit exaggerated. I really think, looking at the figures, we are seriously looking at an IMF bailout if they don’t get a grip on welfare. The bond markets call time on it, then it’s game over. The problem is, people who really need that money will be stuck in the crossfire. High earning households like mine will be ok. Turkeys and Christmas.

Ffs 😡
And who is paying for that?

Labour refuse to cut spending.

This is interesting data re: socialism NOT improving lives of the poorest:
The poorest people in the freest economies are almost 8 times richer than the poorest people in the most socialist economies.

Socialism is & always has been extraordinarily bad for poor people. You are right to be suspicious of anyone who tells you otherwise.

Socialism doesn't work for anyone but the leaders of said ideology

I'm at the stage of "Bring it on" to an IMF bailout, it's the only way to force Labour to stop spending.
It isn't in their DNA to do what's needed so they just continue to drag the economy downwards. They need to be forced to do it.

Me too. I think bring it on. Then the hand will be forced. It has to be otherwise the country will sink. The sad thing is, it is entirely avoidable and those in real need will be hit in the crossfire.

No-one can have these serious conversations. How is the exponential rise in sickness/disability, UC claims, ageing population and pensions going to be paid for. Yes, we always get reasons of why someone DESERVES that money but no HOW to pay for it. Baffles me. People just think these bills can keep rising on top of mountains of debt. It is people who work for the state and rely of their welfare who will be hit first. I’d be really worried about a government I was reliant on destroying the working economy and private sector.

It does feel like some kind of shock is needed. I can't see Labour reining it in anytime soon.

Ditto. Again I live in hope, because even though it will be painful, government spending will be under the control of the IMF and that will mean reviews and decisions made with a darn sight fiscal responsibility than this shower can muster. It may also lead to a general election.(yippee!!)

I’m also at the stage of bring it on for the IMF but all my googling says not likely?

Posters who are reliant are oddly for destroying the private sector and working economy. Somehow they think it will help them get more. It’s so upside down.

Labour truly believe that the state is entitled to everyone's private money in order to pay for their increasing spending. So do many supporters on here.

There should be no private wealth, no-one should have what someone else doesn't. All to pay for state workers/non-workers who will continue to vote Labour because those people are fully dependent on them.

That's why they carry on spending and don't care if the economy crashes, private sector implodes etc.

I agree, it's wishful thinking but give it a year or so if Reeves continues to constrict things

I am no expert on the nuances of welfare, so I defer to you and others on that.

As to the bond markets, they want ‘fiscal stability’ more than anything, and if the Old Lady cuts 25 bps, which they will, whether it is next week (unlikely) or in December, that will also act to ease yields. If Reeves implements more aggressive tightening (read higher tax rises etc), political fallout aside, that would also be a positive for the bond markets.

Addressing the probability of the need for an IMF bailout, I find the notion fanciful - this is not a sovereign crisis (at the moment), as in the UK can access the bond markets, and is able to meet its financial commitments. The 1976 bailout was fundamentally a crisis in sterling, coupled with rampant inflation.

Whilst I would like to see yields spike to put Reeves and this government under pressure, the bond markets and our personal willingness to bear more and more tax, are uncorrelated (if one excludes the political risk from Reeves piling on more taxes, whilst unable to cut expenditure.)

If enough of the, now minority, people who aren’t dependent on the state change behaviour. No attempts are made to address the welfare bill, then I think there could well be a problem this time next year. Our debt is growing and the markets are nervous that no attempt is being made to curb welfare. Working people and I mean ALL working people are becoming disillusioned and are changing behaviour. Hence poor productivity.

Place marking
Spirit of Christmas next week lots of cardboard boxes to recycle the bin man said he couldn’t pick it up because it was too big 😳🤦‍♀️ I picked it up and gave it to him fucking surrounded by cleaners that don’t want to clean and bin men not wanting to bin 🤦‍♀️

fucking surrounded by cleaners that don’t want to clean and bin men not wanting to bin

😂😂😂😂

I think it needs both. Spending cuts and tax rises. Tax rises without getting a grip on spending will cause bother. It will be an even bigger black hole next year. 👀

Well let’s hope so, I can’t bear things dragging on and on as they are with a minority propping up everyone else.
Labour aren’t going to do anything about welfare, they have got some sort of PIP review going on which inexplicably is going to take over a year to produce, but that is not aimed at saving any money. God knows what the aim is.

I agree with you, but Starmer was unable to get just 5 bn of cuts (from future increases) through in the summer, and Labour have just abandoned another review of potential disability benefit cuts.

They are in hock to the unions and the back benches.

Something will have to give, because the tax payers willingness to absorb more and more rises, in the face of no cuts to expenditure, has evidently already reached the point of no return.