{"id":122263,"date":"2022-10-04T13:30:55","date_gmt":"2022-10-04T12:30:55","guid":{"rendered":"https:\/\/mancunion.com\/?p=122263"},"modified":"2022-09-28T14:29:40","modified_gmt":"2022-09-28T13:29:40","slug":"why-liz-truss-is-taking-you-for-a-fool","status":"publish","type":"post","link":"https:\/\/mancunion.com\/2022\/10\/04\/why-liz-truss-is-taking-you-for-a-fool\/","title":{"rendered":"Why Liz Truss is taking you for a fool"},"content":{"rendered":"
You\u2019re an afterthought for Liz Truss\u2019s government. Or at least this seems apparent following the findings of The Resolution Foundation<\/a>, which suggest that the richest 10% will benefit two times as much from the planned government interventions and tax cuts than everyone else.<\/p>\n Not only this, but her refusal to implement a windfall tax on energy companies has forced her to borrow the money<\/a>. This, in turn, means that it won\u2019t be energy companies footing the bill for this intervention, it will be the likes of me and you in years to come.<\/p>\n It\u2019s confusing why she\u2019s prepared to do anything but impose a windfall tax on energy companies, such as Shell, who have already recorded profits of $11.5 billion<\/a>. However, it all becomes clear when you look into her past.<\/p>\n Indeed, our new PM used to be a commercial manager for Shell<\/a>, and her leadership campaign was partly funded by beneficiaries of BP<\/a>. Taking this into account, it all starts to make sense as to why she won\u2019t touch the unimaginably large sums of money these energy giants are taking away from you through your bills.<\/p>\n But Liz Truss isn\u2019t the only person in this new government who is actively working against you. The new chancellor Kwasi Kwarteng has made his vision for Britain clear with his new mini-budget. Far from a focus on improving the lives of the working class, many of which lent their vote to the Tories in the 2019 election, Kwarteng has instead focused on improving the lives of the super-wealthy.<\/p>\n He has scrapped the highest tax bracket<\/a>, meaning economic elites will be able to line their offshore bank accounts with even more money than before. He has also scrapped the bankers\u2019 bonus cap<\/a> brought in by the EU following the 2008 financial crash, effectively awarding bankers an unlimited pay increase.<\/p>\n Whilst the Bank of England tells you not to ask for a pay increase, the bankers of England will be lining their pockets. This must be one of the Brexit benefits we were told about, I guess.<\/p>\n I hope it is clear to you that, despite the rhetoric of helping everyone, actions speak louder than words and the actions of this new government already speak volumes.<\/p>\n These actions aren’t surprising, though, when we consider how Truss landed the role of Prime Minister. After all, she was only elected by Tory Party members, eight in ten of which believe themselves to be within three highest economic groups<\/a>. Take this into account and it\u2019s fair to say that this new government has succeeded in giving its electors what they wanted, just at the cost of what the country needs.<\/p>\n