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The UK is increasingly resembling the rest of the world's rentpig. The UK government has made Britain into one massive investment vehicle for foreign capital --
by lhnz 3y ago
The UK is increasingly resembling the rest of the world's rentpig. The UK government has made Britain into one massive investment vehicle for foreign capital -- our utilities, leading firms, football teams, landmarks and property all serve to enrich sovereign wealth funds in the Middle East and Asia. These foreign investors have all received lavish incentives and grants, and in return we have been allowed to live way beyond our means for decades.
It's alarming to note the extent to which our resources have been sold off. The Conservative party, for instance, facilitated the sale of nearly 10% of Thames Water to China, and a further 10% to the Abu Dhabi Investment Authority.
Effectively, the country is being turned into a dividend machine for foreign capital, while our government debt continues to soar, now standing at over £110 billion and threatening to surpass our entire education budget [0]. This rampant exploitation of our national resources and the escalating debt crisis are alarming indicators of our economic vulnerability.
The country's economic situation is gravely concerning. Our mounting debt issues are additionally exacerbated by the looming crisis in our public services, which are showing signs of failure and are predicted to become significantly more costly. For example, we currently allocate 38p of every pound spent on public services to the NHS. However, projections show the number of Brits aged 85 and older doubling in the next 25 years [1]. Despite these alarming statistics, nobody in government or the media wants to have an honest conversation with the public about what this means.
There are also limits to how much more redistribution can be done. As per 2019/20 data, the top 1% of income taxpayers, earning above £180,000, received 13% of all income but contributed 29% of income tax receipts. The burden is even more evident when considering that the top 10% of income taxpayers were responsible for approximately 60% of all income tax receipts. In contrast, the lower half of income taxpayers, those earning less than £26,000, accounted for only 10% of income tax receipts, suggesting a significant tax skew towards higher-income earners.
It's really not looking good.
[0] https://i.imgur.com/dxK3pUB.png https://i.imgur.com/dxK3pUB.png
[1] https://i.imgur.com/SV909oB.jpg https://i.imgur.com/SV909oB.jpg
- fnikacevic 3y agoIt's voluntary colonization.* * The volunteers being a limited group of decision makers.
- lhnz 3y agoIt's true but also older people are addicted to destroying the economy here, constantly demanding decisions that impair the ability of the country to build houses, build businesses, build new infrastructure, etc, all while expecting high living standards. The only way it could be financed was by selling off the country's wealth.
- hgomersall 3y agoThe problem in your analysis is that you are thinking about the money rather than thinking about the resources. All those people haven't gone anywhere and all the capital (as run down as it is) still exists. The wealthy are not very useful when it comes to contributing, because they don't have that much more to contribute than anyone else (even purloining their additionally consumed resources doesn't contribute very much). In truth, what needs to happen is the government needs to realise that what limits our wealth is our resource constraints and enact policies on that basis, instead of fussing about artificial financial constraints.
- censor_me 3y ago[dead]
- lhnz 3y ago> In truth, what needs to happen is the government needs to realise that > what limits our wealth is our resource constraints and enact policies > on that basis, instead of fussing about artificial financial constraints. Indeed, the government must understand that wealth hinges on available resources, not financial limits. Policies should reflect this. Yet, the UK seems hesitant to utilise natural resources, develop housing/infrastructure, or encourage investment in capital or innovation. We've been rich and industrialised for so long we have forgotten that wealth isn’t created out of nothing. Our attitude towards fossil fuels is particularly indicative of this. Coal made this country an industrial superpower. We forgot that the key to our economic power started and will always start with energy -- and that this is often dirty. Today we a country of financial services and coffee shops, because we believe we are above the truly productive sectors of the economy.
- CatWChainsaw 3y agoButler To The World
- Tycho 3y agoTaking money from foreigners for things which necessarily remain located in Britain and available to the British public seems like a pretty good deal. Football teams, for instance - billionaires want to pour money in, we get to watch an incredibly competitive league as a result. No downside.