Opinion by Mathew Carr
Nov. 25, 2025 — Tomorrow’s UK budget will demonstrate the British govt has been taken over by financial markets, rich people and bankers….who have successfully debt enslaved us all (us below the 0.1%, anyways).
So says Gary’ Economics …see below …and his points are largely well made ….because they summarise the tyranny beautifully.…in a limited sense.
The Labour govt don’t want to raise taxes on the super rich because they are being bullied by the awful wealthy lenders and bond markets, Gary says.
This is true.
Yet Gary is forgetting / ignoring the fact that there is a sophisticated actual conspiracy … where the governments DELIBERATELY work together to boost money supply, cause inflation, regulate badly, allow bigger and bigger companies to form oligopolies that then corrupt markets in favor of the super rich.
Prices go through the roof because …many times a merger or an acquisition ERODES the competitive tension in the markets served.
The newly enlarged company now can collude on prices with the other big companies in its sector.
So let’s put an Amazon Inc. guy in charge of mergers!
Doug Gurr, yay!
Yes that Amazon ….the one killing real retailers. And avoiding tax….sigh. The same Amazon selling air freshener for more than 20 quid. £27 for Febreeze? Really?
The pandemic worsened the attacks on the people, Gary rightly points out…while pretending it was an accident.
The government did not need to transfer £20,000 from taxpayers to the wealthy because of the pandemic. It was a choice.
It was deliberate theft, Gary. (True you do acknowledge the Tory corruption, yet you downplay it, Gary. Once a Citi banker, always one ….I guess.)
Gary also largely ignores the corrupt corporate press’s role in stopping taxes on the super wealthy (and slowing better market structure). Though he does cleverly criticise a culture where rich folks look after even richer folks….in a conspiracy of aligned interest. Nudge nudge wink wink. He does obliquely criticise the Financial Times here, so kudos for that.
Don’t get me wrong.
I’m a Gary fan.
Wealth taxes are needed. and his success in bringing them into the public agenda is impressive.
Showing that the middle and lower classes need to work together to protect themselves has merit. ….whatever it means.
Gary’s notion that the governing Labour Party must choose between getting its money from the very wealthy or from the rest of us …is clear eyed.
Yet ALL taxes can be make more progressive so a smorgasbord of tax changes is a good thing, not bad. I hope it’s 50 tax changes tomorrow….not just 25.
I hope Gary is wrong about this UK budget … and he just might be.
The recent polls highlighting their unpopularity should have scared PM Starmer and Treasurer Reeves into proper action for the people.
And yes …the tax-free threshold for a British human should rise to about £20,000 from £12,000.
It’s actually time for universal basic income…..so capitalism is forced to pay people more to incentivise them into work.
Inequality requires a multi-structure response.
The stitching up of markets in the past decade by loosely regulated giant companies is as nefarious as failing to tax the rich, Gary.
Good government is not just about taxing the rich. It’s about ensuring super-normal profits are more difficult to achieve in the first place …because markets are regulated to be competitive and profit margins are naturally thin. CarrZee
It’s the people’s job to set the rules of business. It’s not government’s job to represent business.
Middle men companies like banks and insurers need much tougher regulation. Banker bonus caps should be restored.
Capitalism isn’t bad. Badly regulated capitalism is.
Gary needs to broaden his critique.…and he needs to stop skirting around who is doing what to whom.
Otherwise it’s just another form of bad economics….better ….but still bad, Gary.
(Updated to tweak headline to guarded Gary ….gormless Gary was a bit unfair, I decided on second thoughts)
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