Thoughts following the 1st GE Leader's debate

If the Labour Party wins the election, then I think that it will be bad news for the economy. Within a relatively short period of time, the Labour Party will "invest" heavily in public services (without any associated productivity improvements) and agree "generous" pay settlements with the public sector unions which will all want the "benchmark" settlement agreed with the junior doctors which Keir Starmer stated would be less than the 35% increase which the junior doctors are demanding!

With inflation rising rapidly, the BoE MPC will start raising the Base Rate which will be bad news for house prices, business investment, cost of living pressures and economic growth.

Keir Starmer and Rachel Reeves will the raise taxes on "non-working people" i.e. anybody with any assets (including property, pension funds, shares and bonds) and /or cash savings. The Labour Party seems to believe that individuals should be willing to generate wealth for the benefit of everyone rather than for their own enjoyment of life.

I thought that a telling question in last night's leadership debate was when Keir Starmer was asked whether he would use private healthcare if a close member of his family was suffering (e.g. in severe pain awaiting a hip or knee operation). He said that he would not even though he could clearly afford to do so. I think that this demonstrates that he does not believe that individuals should be able to benefit from accumulated wealth.

A Labour Government will almost certainly result in public sector debt rising above 100% and Sterling weakening against all major currencies which will make the UK's imports more expensive and we are a net importer.

Voters' remorse could set in quite soon after the election. Unfortunately, we will have to wait 5 years to change the Government if Labour wins a large majority.

In the meantime, The SP can try to find candidates for all future by elections as well as the upcoming council elections in a couple of years. We will have 5 years to develop a strong platform for the SP to launch a major campaign in the next GE. The key for us will be to start building momentum soon after the dust settles on the current GE and most voters begin to realise that they may have made a big mistake by giving Labour a big majority.

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