On budget day everyone will be ‘rich’ but they won’t be happy – London Business News | Londonlovesbusiness.com

When I ran Pimlico Plumbers the basic ethos was that when the company earned everyone earned. We set things up that way on purpose so every member of staff, from engineers to admin staff, knew they’d be rewarded for giving their best. Sadly that’s not a principle that runs deep in Keir Starmer’s re-booted Labour Party.

The UK economy desperately needs a radical overhaul to prevent any further decline in our standard of living. And the way to do that is to construct an economy where working hard pays dividends, not one that rewards the idle for the hard-work of those who put in the hours.

Apart from this kind of incentive-free system being totally unfair, it also runs completely against common sense. The longer you run the shop this way, the fewer people you have prepared to put in the graft. It’s a race to the bottom with less and less wealth in the pot, and more and more people demanding their ‘fair’ share.

And if you want a real-life example of this kind of thing in action look no further than the NHS. Every year there’s less money available in real terms and more people wanting more services. The maths doesn’t work.

Okay, yes, I’ve just stated the bloody obvious about why socialism doesn’t work. But Starmer’s crazy-crew have taken a broken down political idea and made it even worse in an effort to hide the fact they are running a Ponzi scheme disguised as a government. And like all such pyramid scams things will end in tears for those who thought they had hit the jackpot.

In a ham-fisted attempt to keep their victims in the game, Labour has resorted to the old trick of blaming the so-called ‘rich’.

It’s these ‘rich’ bastards who have filled their boots for years, and now they must pay to make the country good again. The more interesting question though – as we discovered on last week’s BBC1 panel discussion on Sunday Morning Live is – who are we calling ‘rich’ these days?

I can see why blaming the ‘rich’ might sound like a great idea to some. Why not? Blame the other guy; he’s doing better than me, so let’s make him pay!

But the real punch-line will land on October 30, when the chancellor delivers her maiden budget, and millions realise the joke is on them. Turns out they are the ‘rich’ who’ll be getting stiffed with Rachel Reeves’ bill, and a good number will also be feeling like the proverbial turkeys that voted for Christmas.