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No they won't have, but to me this is a pattern of extreme neoliberalism, which is what the ERG and other have promoted in the Tory party. It really is no longer a small state free market not overly progressive but sorta sensible right of center party.
Tanking the pound, more business going bust so you can buy up the property...ways to make £ out of this. If you have money sitting, crises can be very good. Even during Covid the rich got richer.
Buying out the fossil fuel companies via letting us sponsor the fuel bills, instead of windfall tax them hard and only giving extra ££ to lower income bands. Now we have this leading to even more state debt (or higher taxes which they said they didn't want to go for), markets are panicking...nuts.
I guess it means Labour will get in to clean up the mess...again.
JWestland-
extreme neoliberalism
I think that's taking it a bit far. "Extreme neoliberalism" would be something like the 10% flat tax on personal income that they have in Bulgaria - as I posted upthread this change taxes income taxes back to where they were during the Blair years, albeit with lower real-terms thresholds.
Similarly, if you look at tax and spend as a % of GDP (excluding the energy bailout) it will not be out of line from what was normal in the early 00's.
To the point about the rich getting richer during COVID, that was an inevitable consequence of monetary expansion and low rates - with rates rising world wide, I think you could say that "this time it's different"...
NickCJ
No way that those guys have any onshore UK PAYE income that would make them worry about the 45p rate. Although Ashcroft did celebrate the policy on Twitter...
https://twitter.com/LordAshcroft/status/1573247615629758464