Growing fears
LABOUR’S number one priority is economic growth, Sir Keir Starmer has repeatedly told us.
So how’s that going then?
1
Confidence in the economy has slumped to close to the record lows that were recorded in the doom-laden days of the Covid pandemic.
Optimism among business leaders has been plummeting since before the budget, when the Prime Minister and his Chancellor Rachel Reeves were busy talking down the economy.
That downward trend has accelerated since the Chancellor hiked National Insurance for businesses in her budget.
Now we learn that 125,000 jobs are threatened by the Inheritance Tax changes which were among her other tax grabs.
Analysis by the Confederation of British Industry shows that the IHT raid on family firms and farms could even wipe £9.4 billion off UK productivity.
The Government has consistently claimed its tax hikes are all about ‘fixing the foundations’ of the economy.
Undermining those foundations doesn’t look like a recipe for growth.
We can only hope all will be explained in Sir Keir’s ‘mission’ relaunch this week.
Wicked idea
WE should be proud that the new film blockbuster Wicked, currently casting a spell over cinema audiences worldwide, is made in Britain.
The bad news is that Hollywood movie giant Universal — which made a £12 BILLION profit last year — was handed £28 million of UK taxpayers’ cash to persuade them to make it here.
That was nearly 20 percent of the £148 million cost of producing the film, which has already raked in more than £150 million at the box office.
Clearly there’s a good reason for providing incentives to boost the British film industry and the jobs that go with it.
But with the world-class expertise we have, wouldn’t the movie-makers come here anyway? Or at least for less?
It’s obviously a balance the Treasury experts need to get right.
Not everyone will be convinced they’re on the right Yellow Brick Road.
SoS for OAPs
THE run-up to Christmas has begun in earnest, but for tens of thousands of pensioners it’s anything but party time.
Campaigners fear cuts in the Winter Fuel Allowance and rising bills will increase isolation amongst the older generation this festive season.
That’s why, for our SOS at Christmas appeal, we urge generous Sun readers to donate money, or their time, to the amazing work of Age UK.
Find out how you can befriend a lonely pensioner and make a real difference to their life at ageuk.org.uk/ChristmasSoS.
