James Dyson Accuses Labour of “Revenge Economics”
Sir James Dyson has accused the Labour Party of “revenge economics” which is damaging the nation and its security, blasting in particular Ed Miliband’s carbon taxes and Rachel Reeves’s ‘death tax’ on farmers. The Telegraph has the story.
The billionaire inventor claimed that Rachel Reeves’s “death taxes” on farmers and Ed Miliband’s refusal to scrap carbon taxes are undermining the country’s ability to be self-sufficient in food and energy production.
In an article for the Times, Sir James said: “Reeves is sacrificing key elements of our national security to make a politically vindictive attack on enterprise and wealth creation.”
Reeves announced that farming assets would be subject to 20% inheritance tax from 2027. The policy provoked a major backlash from rural voters, prompting the Prime Minister to water down the proposals in December last year.
“The amount her death tax on family firms generates, which no foreign, private equity or publicly listed business has to pay, will be dwarfed by the loss of income tax and corporation tax as businesses disappear,” said Sir James.
“The combination of tax hikes and ever more restrictive employment laws will ramp up unemployment – already above 5% and rising – and further erode the tax take.
“Labour has adopted revenge economics as a central policy, which is already damaging the nation and its security.”
Sir James said Sir Keir Starmer was pursuing policies that were forcing the UK to depend on unreliable imports for two of Britain’s most vital resources: energy and food.
Pointing out that the Middle East had demonstrated the fragility of Labour’s approach to energy, he said the Government had been “incredibly slow” to act on North Sea gas drilling and continued to block fracking while “recklessly” buying energy from other countries.
Miliband is considering whether to approve the first major North Sea gas field project, known as Jackdaw, but remains opposed to any development of the giant Rosebank field, which predominantly contains oil reserves.
“This is folly,” said Sir James. “As President Trump likes to remind us, the US has its own energy so can survive without the Strait of Hormuz being open, while Britain, under Ed Miliband’s perverse destruction of our energy assets, cannot.
“We have further huge reserves of gas and oil in the North Sea and untold quantities of gas under our land that can be quickly extracted through fracking. There is no possible justification for not making the UK self-sufficient.”
He said Kemi Badenoch’s proposal to scrap carbon taxes was a “step in the right direction”.
Worth reading in full.
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Spite and envy drives Labour.
That, and kowtowing to their CCP bosses.
The government are following this to the letter
https://ukfires.org/impact/publications/reports/absolute-zero/
Socialism = the creed of greed, envy, spite and would destroy everything to rule over the rubble.
Was Marx a Satanist?
“In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined:
When the Communists took control in 1917 the workers in the Baku oilfields murdered all the bosses except for one – Alfred Nobel’s brother. His workers loved him so he was spared but the oil production was not spared as without the bosses expertise production declined. This caused a loss of income from selling the oil so Lenin was forced to beg the Western oil companies to come in and run the oilfields.
Sir James Dyson is one of the few British inventors and businessmen who have managed to survive and thrive in spite of the crippling tax burdens laid by the Uniparty upon them all, in order to punish success and the accumulation of wealth.
I read somewhere that in Russia, income tax is only 5% across the board, which seems completely fair to me, everyone paying that percentage regardless of their income.
It was a flat 13% until this year, and is now a progressive rate from 13 to 22% based on income.
Thanks for that update. What a pity Putin is now following the West in punishing people for being wealthy! It’s just “The Politics of Envy” as they say. I have never understood why so many people resent the wealthy and successful, and feel that some of that wealth should be given to them, or to “The Starving in India” for no apparent reason. If a wealthy person wants to buy hundreds of cars or shoes or handbags, it’s up to them, and doesn’t affect me in any way, so why should I mind? Or if a father decides to give all his money to one son in his will, disinheriting all his other children, that’s entirely his right, and the others should have no right to sue the son and legally challenge their father’s will. It’s his money, and he can do what he likes with it. I remember during the Covid Lockdowns, when a local food bank recruited volunteer drivers to take parcels of food and other supplies to home-bound people in local villages, one volunteer brought back a parcel, saying that she refused to deliver it because the recipient’s house looked expensive !!! The food bank quite rightly… Read more »
Labour know that they are finished so are doing as much damage as possible. I guess it’s in the hope that equally deranged nutters like the Greens or Libdems will take over.
I agree. Do as much damage as possible between now and 2028/9 but they must fear a wipe out from Reform so by increasing the damage and destruction, no subsequent Government will be able to repair it.
Oh woopeedoo———-people have been saying this for years but are all accused of being the FAR RIGHT who reject science, don’t care about the planet or our children’s future.
The corporate world though have been hand in hand with government on the mass immigration and climate scams so Dyson is breaking ranks obviously. —-It appears some of them now are realising they have been played just as the general public have for years now.