Craig has a long history of backing the wrong horse, starting with UKIP, continuing through the Sealink Ferries debacle, fracking, Liss Truss and Neoliberalism. Instead of the myth of wealth trickling down the sh!t has hit the fan. Trickle-down economics has repeatedly been shown to be a complete failure since Reagan and Thatcher first started pushing the views of a couple of right-wing economists with absolutely no evidence (and plenty of evidence against over the last 30 years).
Low taxes do not stimulate the economy. Many G7 countries with higher taxes have outperformed the UK. If rich people are given more money they spend it on luxury goods generally from overseas, and stockpile money in offshore tax-exempt funds, providing nothing to the country. Give poor people money and they spend it locally, buying food, clothes, electricity, cars, stimulating the economy.
This is proven time and time again in many different countries, but it doesn’t provide Tory funders with more money in their pockets. Strange that the ERG idiots consider that the already rich need more money to incentivise them, but the poor need beating with a stick.
The real problem with Britain is lack of investment (particularly in social infrastructure like hospitals, railways, social housing) and short term business economics, the main purpose of which is to reward (generally overseas) shareholders and pay massive bonuses to executives based not on the company performing its function but instead on the money it grabs from its customers and/or the planet and delivers to its shareholders.
Herein lies the problem. Our economic model is geared not to providing better goods and services that benefit rich and poor alike, but to supporting monopolies bleeding money from our economy to send overseas. Welcome to the Mackinlay ideology. He doesn’t care about the poor, even though he uses them as afalse justification for rubbishing net zero and removing ‘red tape’. Don't forget that red tape (aka Health and Safety, Environmental, Pollution control and other legislation which protects us) is what stops companies destroying the environment, poisoning the local population and injuring their workers (or it would if 12 years of austerity hadn’t decimated any control and scrutiny).
In this, as in all things, he’s backing the wrong horse. Trussonomics, which he revered, has proven wanting. His preferred prime minister has failed miserably, in the process becoming the briefest holder of the post ever.
And fracking, which he believes will save us from Putin despite taking years to come on stream and contributing nothing to a reduction in global energy prices, has just been abandoned again by Sunak.
And news just in, he’s backing the wrong horse again with Manston Airport, a paltry 340 signatures on his pet petition complaining about Ramsgate Town Council following their legal remit to work for the benefit of the town and its citizens by supporting the Judicial Review against the DCO. Pathetic.
His rightwing neoliberalism has failed time and again. Survival and happiness are tied to the health of the environment, not a country’s GDP. Rather than backing the failed horse of growth-based economics he should be pushing for local councils to be properly funded and local people being supported.
Don’t take any racing tips from this chancer.