And overnight, Labour has a 33% lead because folks see the abyss and it's right in front of them.
Currency decline.
Mortgage rate increases.
House price supply-demand mismatch.
Pension failure.
So into the breach, the Bank of England buys UK gilts to support the currency at a cost of £65bn. All so Truss can deliver a tax cut to the very wealthiest British tax payers. And all that does is create the kind of gross inequality that fails everywhere it is tried.
Supply side doesn't produce growth at UK tax rates. It creates immediate misery and long run deficits.
What a damned mess.
If you want to generate growth, as everyone does, target innovation and make life sweeter for entrepreneurs, train people to change careers, build supportive infrastructure such as power plants and fast internet connections, establish sovereign wealth funds for UK startups, experiment with innovative technologies etc.
You want to use precision tools, not a tax cut hammer, for God's sake. Where does all that money go which wealthy tax payer save? Answer, anywhere the wealthy person wishes, anywhere in the world. Will it create high risk and highly productive UK products? Highly unlikely. Why risk your chips when you have them? Better to invest in safe asset classes.
For anyone who has actually started an innovative business, the most obvious reality is how hard it is to persuade incumbent operators to try something new and different. Governments can actually help hugely with that by being willing to experiment. As it is, increased funding almost invariably finds its ways into the pockets of government employees as salary increases. So you want to break that cycle and create a culture of experimentation and innovation within government.
Innovation drives evolution, not incumbency.
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