This economic chaos is a form of class war on the British public | Daniela Gabor

Trussonomics is the sharp end. But other, structural factors are also driving a systemic assault on working people

The Truss government is waging an uncoordinated class war. The Truss tax cuts, the largest in 50 years, were designed to redistribute wealth from the poor to the rich.

Although the government has since scrapped its proposal to cut the 45% top rate of income tax paid by those earning more than £150,000, all other details of its “mini-budget” remain: there has been no increase in corporation tax, the cap on bankers’ bonuses has been axed and the government has launched a fresh attack on trade unions. These are ideological measures disguised under the banner of a discredited “trickle-down” growth strategy.

Daniela Gabor is professor of economics and macrofinance at UWE Bristol

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from The Guardian https://ift.tt/GCgX2mt