Dally wrote:
I read yesterday that Boris’ latest ‘Moonshot’ testing programme is going to cost a staggering £43 billion, being more than annual transport and policing budgets combined (although that was on Twitter, so the figure may be suspect). As things stand, it will apparently be a waste of money as only c. 5 per cent of people with positive tests are isolating. If true, the whole thing is dangerous farce that will be used as a basis for cutting all public services in future.
Without an effective testing system (and hopefully an effective vaccine), "we" will be creating a fiscal deficit which will be so bloody large that all public services will be under threat anyway.
The huge lift in public spending, coupled with massively falling tax receipts are going to leave one hell of a shortfall.
Remember, we haven't had a budget this year and it's still spend, spend, spend but, we all know that this will have to be paid down at some point and it will be interesting to see just where the tax increases come.
There was a triple lock on NI vat and Income tax, which doesnt leave a whole lot of wiggle room.
The loss of tax benefits on pension contributions will be the first "grab". but, there will need to be some extremely radical increases somewhere.
