Hello fellow Contrarians, I trust and hope that you are doing well?!
Much to the surprise of nobody, the Labour Party stormed to a majority in the recent General Election.
Admittedly there is still one more seat to declare - and that seat is up in the northern outreaches of Scotland, where they are currently having a second recount at the time of writing this article.
Sir Keir Starmer has got the ball rolling and has appointed a new cabinet etc
I trust that Diane Abbott will NOT be in charge of any numbers what so ever, as that would spell catastrophy.
All that being said, there is a lingering question about what exactly the Labour Party can achieve in their term.
Labour inherit an economy that is turgid and needs something doing to it.
There is very little available cash to spend (an unlimited amount could be printed but this would just exacerbate the already large debt that the UK has) and some of their policies could be considered inflationary.
Great British Energy sounds like a good idea but how does/will this get financed?
Will creating such an entity actually help lower the price of our fuel bills?
Questions like this don’t have answers right now, so only time will tell.
Change was needed and change has been delivered by the people.
Labour will not have an easy ride in the next 5 years as there is a sense that they are damned if they do and damned if they don’t.
There is a sense of feeling that the NEXT General Election will really be one of the most crucial ones in the history of the United Kingdom.
This is because UK Reform had over 4,000,000 votes and finished 2nd in quite a few of the places where Labour won seats.
If Labour do not do a good job or sentiment shifts, then UK Reform might be in a very good position to really creates waves come next time.
We shall see.
Have a superb weekend!