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The purpose of the welfare state is to shackle the conscientious and productive to the workless, giving them the immense pleasure of working to pay for other people to have families they themselves struggle to afford

"The UK cannot afford the range of policies it has made to the public" Pretty bald statement from OBR chief Richard Hughes, launching its review of risks to the public finances which shows debt spiralling upwards

A short 🧵on some remarkable callers into Nicky Campbell's show this morning. It was a debate about the completely insane idea of wealth taxes in Britain. The TL;DR is that whilst leftie academics say it will be great the 'revealed preferences' of the callers shows otherwise.

And as Maxwell Marlow 🇺🇦 has shown, the abolition of Non-Dom status will cumulatively cost the UK £6.5 billion by 2035. Although designed to raise revenues, these reforms will actually end up losing the Treasury money and making the UK poorer.

The State Pension could go bust by 2036! @Maxwell_Marlow explains what this means for you ...

BOGOF ban being implemented in October. According to 2022 Impact Assessment, business loss will be £1.165bn (at a time when retail food and drink sales are falling) all to save 84 calories (or 30 raisins) per day. This increases costs for consumers, and doesn't solve obesity.

'Current taxpayers would be paying in, but nothing would be coming out the other end' Maxwell Marlow says the cost of the State Pension may outstrip National Insurance contributions by 2036.

The Adam Smith Institute Adam Smith Institute found that the State Pension could become financially unsustainable by 2035, precipitating a crisis point for fiscal rules and Treasury spending commitments. We spoke to Maxwell Marlow 🇺🇦 about the implications....

Important contribution from Institute for Fiscal Studies on the wealth tax debate: "International experience of annual wealth taxes is not encouraging: they have been abandoned in most of the developed countries that previously had them." ifs.org.uk/articles/wealt…

Government: everything will be okay OBR:

On a YIMBY Democrats for America 🇺🇸🗽 mission across the pond to Cambridge University with The YIMBY Initiative and friends from Labour YIMBY, and we’re immediately greeted by 525 years of housing prices in Europe. Next up, new friends Alain Bertaud & Chris Worrall!

> Design a policy to be as expensive as possible > Act surprised when it’s expensive ????????

Excited (and caffeinated) to be joining my friend and super-YIMBY Chris Curtis MP for a breakfast briefing on new towns and house building at OakNorth this morning.

It's annoying when you want to get somewhere, and your path is blocked, right?

I recently warned @KeirStarmer and The Labour Party govt about the legal risks posed by the Tobacco and Vapes Bill, that undermine the Windsor Framework, jeopardise key post-Brexit agreements & create uncertainty for Northern Ireland. #WindsorFramework #TobaccoandVapesBill #Legislation

Nifty tip for JSO - don't book rush hour trains between Britain's two most economically productive cities ON THE DAY. You will be charged through the eye-balls, and rightly so.

Despite being a cornerpiece of HMG's planning reforms, an appeal published today concluded: 🪨 A disused landfill stuffed with asbestos is *not* grey belt land 🌿Building a data centre on the site would harm "the openness of the Green Belt" 🤦🤦🤦

Thank god Richard Burgon is fronting this. The perfect spokesperson for such a move.

They’re not going to do a wealth tax - that much is clear. The next question comes… Where will they get their (our) money from?