Gary’s theory is that the cause of wealth inequality is wealth inequality.
In his Oxford thesis he claims that wealthy people become rich, buy assets and then use their passive income to buy more and more assets. He also claims that the rich don’t pay taxes like the rest of us.
If his theory was correct and the UK was experiencing a wealth inequality crisis the share of wealth held by the top 1% would be rising. It’s not - it’s been stable for decades.
The two reasons we are seeing issues at the bottom of the economic pyramid is because of technology and low skilled migration.
Technology is replacing entry level jobs and to the degree that there are entry level jobs the UK now has a large population of low skilled migrants competing for these jobs. Those two factors put massive downward pressure on people at the lower end of the economy.
What we are seeing is millions of young people who are economically inactive. Millions of people whose only economic opportunity is to claim any available government benefits. It has nothing to do with the rich.
The cost of housing has also risen. It’s not because a tiny group of elites buy up houses. It’s because the government had a decade of low interest rates and stimulus and an aging population don’t want to sell their homes and pay stamp duty on a smaller place. We actually have over 9M homes with 2+ spare rooms. Rich people are not interested in owning a 3BR terraced home in the midlands.
It’s easy to blame the rich for the problems we see but the truth is hard to hear… The UK is only surviving because we still have about 3M high earners who are paying historically high taxes. Actually just 300,000 people (1 in 100) are paying a third of the taxes and 30,000 of them (1 in 1000) are paying 10% of the tax bill. In a country with 70M people a few football stadiums of hard working, responsible, enterprising people are paying disproportionate taxes and demonising them isn’t helpful or based on any accurate data.
Kinda wild Norway just own their evil rape and pillage culture as cute rowing… yet Brits are constantly made to feel bad for giving half the world their civil services, judiciaries, education, railways and postal services etc.
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This is a significant result, and I want to start by congratulating @DLumsden_MSP on becoming the new Member of Parliament for Aberdeen South and the newest Conservative MP!
Makerfield was about one man’s job.
Aberdeen South was about thousands of jobs in oil and gas across our country and the future of an entire city.
Yesterday, the people of Aberdeen sent a message on behalf of the whole country. Energy security is national security. They know it is common sense to use our own oil and gas rather than importing it from overseas. They know it is madness to make ourselves poorer, weaker and more dependent at a time when even the government’s own intelligence says we are under threat. The first duty of any government is to keep its people safe. The Conservative Party will always put Britain’s security first.
What makes this result particularly significant is that many people who voted Conservative today have never voted Conservative before. I want to thank every one of them.
Many will have voted for us because they care deeply about Aberdeen and its future. Many will have voted for us because they are sick of the SNP’s shenanigans. Others because they are worried about what Labour’s policies mean for their jobs and livelihoods. Many voted for us because they wanted a strong local champion.
Douglas is that champion. He has lived in Aberdeen all his life. He spent two decades working in the oil and gas industry. He knows this city, he knows its people, and throughout this campaign he brought energy, optimism and a genuine belief in Aberdeen’s future. Wherever he went, he had a smile on his face and a positive message about what this great city can achieve.
The Conservative Party is working to earn the trust of the country again. I am grateful and humbled that Aberdeen looked at the choice before them and decided that the Conservative Party was the party that would fight for families, workers and business.
Thank you, Aberdeen. I will never stop fighting for you. Douglas will never stop fighting for you.
The Conservative Party will keep fighting for common sense, a stronger economy and a stronger country.
@Judgebredd The other day it was showing me random people in the Following tab, I eventually found that it wasn't sorted to most recent and seems to have fixed itself.