"AT THE BEGINNING OF A NEW ERA" Kwasi Kwarteng
Reward for the wealthy - turbocharge the economy - live off and depend even more on fast depleting resources like oil and gas. This is cloud cuckoo land economics/ecology. Get 2.5% growth every year for evermore so we can stuff our homes with more stuff, have 'em bigger and two or three homes each, at home and overseas as the magic money tree takes off from greedy growth.
Sir Jonathon Porritt said in the 1980s that 3% growth every single year for 25 years builds up nicely to production and consumption having doubled in those 25 years from a planet that is not expanding in line with our ever greedy demands placed upon it!
Worked out as:
End of yr 1, from £100 you have £103
Yr 2, this becomes £106.09
Yr 3, £109.2727
Yr 4, £112.55
Yr 5, £115.93
Yr 6, £119.40
Yr 7, £122.99
8 126.68
9 130.48
10 134.39
11 138.42
12 142.58
13 146.85
14 151.26
15 155.80
16 160.47
17 165.28
18 170.24
19 175.35
20 180.61
21 186.03
22 191.61
23 197.36
End of year 24: £203.28
Truss and Kwarteng want only 2.5% each and every year. So,
by beginning Yr 2 £102.5
3 105.06
4 107.69
5 110.38
6 113.14
7 115.97
8 118.87
9 121.84
10 124.89
11 128.00
12 131.21
13 134.49
14 137.85
15 141.30
16 144.83
17 148.45
18 152.16
19 155.97
20 159.87
21 163.86
22 167.96
23 172.16
24 176.46
25 180.87
26 185.39
27 190.03
28 194.78
by beginning of yr 29 199.65 - it's doubled! In just under 30 years.
30 204.64
Those on Universal Credit will have their benefits cuts if claimants are not trying hard enough to find work. A tougher sanctions regime for people on UC, Andy Burnham called it and, he said this evening, he is against a deal to end the Ukraine War.
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