Saturday, March 15, 2025

Michael Lambert: Will Targeting the Poor Really Fix Britain's Financial Issues?

Mar 15, 2025 | The UK economy is doing very badly. Donald Trump is ensuring that the US economy will also suffer by applying tariffs to America's neighbours and others all over the world. This is likely to seriously damage the US economy just as Brexit has damaged the UK economy.

T rump last week applied 25% tariffs to all imports into the US of aluminium and steel. The EU and others immediately responded with reciprocal tariffs. The UK did nothing, but will be sending the Secretary of State for Business to the US for talks.

In the meantime, Trump's state visit is still going ahead and promises to be a major embarrassment for the UK and King Charles.

The Labour government of Kier Starmer has decided to investigate benefit recipients for fraud. This is likely to be very expensive and to yield very little compared to the vast losses associated with Brexit, supplies of faulty PPE, and the writing off of £19.7 billion of unpaid Bounce Back loans.

The government under Starmer seems wary of offending the rich, whilst dirty money floods into London, often to take advantage of our tax havens.

Council tax needs reform when a £150 million house in London only pays £4000 per year.

Many retail businesses throughout the UK seem to be unviable and yet are able to continue to operate in what is almost certainly money laundering.

The government appears to be afraid of offending the many rich who come to London for whatever reason.