Please Pray for Great Britain As Their Economy Collapses
Fake conservatives are shattering the United Kingdom in the name of Mammon
There is a colossal humanitarian crisis brewing in the United Kingdom.
6.7 million are waiting for hospital care.
Britain has the lowest corporate taxes on energy companies of any major economy — Shell and BP paid zero corporate tax for the past three years — and accordingly, everyday Britons are currently facing the highest energy prices in Europe, with the average family being forced to pay a crushing $2,877 this year.
Pair that with corporatist-manufactured inflation robbing the poor of 15+% of their purchasing power. Despite having the fifth largest economy in the world, 14.5 million of Britain’s 68 million inhabitants are in poverty, including 4.3 million children, and it’s estimated that the energy price spike will drain millions of British families of their entire life savings.
Thanks to Putin’s war in Ukraine, energy companies like Shell and BP are forecasting record profits — £170 billion in unexpected windfall profits over the next two years, on top of their expected $20+ billion in profits.
A smart, democratic, or moral government would know exactly what to do when faced with this situation:
Tax back all £170 billion in surprise war profits for which these fossil fuel companies contributed no additional value, and get that money into the hands of Britain’s poorest ten million families. They’ll then spend that money on things like heat and food, which will create jobs in the real economy, and all the money will end up back in the hands of corporations anyway, but without millions of British human beings suffering first.
But alas, the UK is run by anti-human corporatists.
Enter the new Prime Minister, former Shell employee and full-blown corporate extremist Liz Truss.
In her first week at PM, Truss decided to declare her public allegiance to putting corporate profits above human life, health, wellbeing, and the real economy, by declaring she would not tax all those war-profiteering pounds.
Instead, her plan is to — wait for it — borrow billions from banks and hand out £400 to poor households to “help” them make it through.
In other words, she’s killing two birds with one stone:
She’s protecting the war profits of her beloved corporate sponsors, the energy companies.
She’s providing her other corporate sponsors — massive private banks — with a new source of revenue: taxpayer-funded interest on the billions in subsidy loans that will eventually have to be paid back with usury.
This is classic modern “conservatism.”
But any classical economist like Adam Smith or David Ricardo or Henry George would point out the obvious — Liz Truss and her party aren’t actually conservatives who want to conserve democracy and freedom and a fair-rules-market… they’re corporatists who want to destroy the British nation for private profit.
“When the righteous increase, the people rejoice, but when the wicked rule, the people groan.” — Proverbs 29:2
Sadly, there wasn’t a single member of Parliament who pointed out the obvious flaws in Truss’s logic, mathematics, or morality.
That’s because the only people who are given a voice in politics are those who support the corporate privatization agenda.
Truss insists “We are in this situation because of Putin.” But that is not true. Her Conservative party has fought against energy independence via renewables for years. In fact, they banned on-shore wind in 2015, which would have been enough to offset all Russian oil and gas imports.
Truss repeatedly insists that “We can’t tax our way to growth.” But the Treasury’s own estimates say energy companies will rob £170 billion in unexpected windfall profits from the working class over the next two years. Every pound is money not spent into the real economy to create jobs. Democracies absolutely can tax their way to growth.
Truss vehemently claims taxing surprise/windfall/war profits will deter investment. This is another lie. The major oil monopolies don’t re-invest their windfall profits in creating jobs in the past year — they all gave dividends to rich investors and manipulated stock prices by executing share buybacks to the tune of billions.
Truss worried that if Britain taxed war profits, oil companies would stop investing in the UK altogether. But why would they do that? Even without their unexpected war windfall, corporate energy profits were still at all-time highs. Why would they walk away from tens of billions of profits? Moreover, even the CEO of BP said they would cancel zero projects if a war windfall tax came into effect. And what is monopoly “investment” anyway? Nothing more than a way for elites to extract wealth from the real economy to the parasite anti-economy. Energy should be democratized, not corporatized.
Truss, like all corporatists, is obsessed with supply-side economics. She insisted energy prices would come down if only her Cons could slash environmental protections and allow her energy monopoly buddies to frack shale and drill offshore. Not only will it take years if not a decade for these filthy and dangerous new energy sources to reach British homes, but the total amount of new energy this would provide would only add a blip to the world energy market, and energy monopolies don’t give discounts against the global market price.
Corporatists like Truss know what some of us democracy-loving people already know: That governments don’t “provide” anything to the people. Taxpayers provide 100% of everything in society, either in taxation or in interest-bearing debt — aka, future taxation. Truss has chosen future taxation for the sake of present profits for private elites.
All told, Liz Truss just pulled a Sri Lanka — she sided with elite billionaire corporations in a bid to engineer poverty for tens of millions of everyday working people in the real economy. It’s all part of the bigger corporatist plan to ram humanity back into assetless feudalism and corporate serfdom.
And we all know how Sri Lanka’s going: Utter poverty, suffering, and violent civil unrest.
Even investors realize Liz Truss is a psychopath hellbent on destroying the real economy in favor of the corporate parasite anti-economy, with the currency markets immediately plunging the value of the pound to its lowest level since the last female corporatist Prime Minister, the working-class-destroying iron lady Margaret Thatcher.
Liz Truss has all but guaranteed Britain a long recession for years to come, and at least one winter of shivering misery for the sake of corporate war profiteers.
Every single fake conservative who supports her should be run out of office.
A call to action
If you are an international: Please be sure to send this article to your British friends and family.
If you are British: Copy and paste the following letter in an email to your member of Parliament. (You can find your Member of Parliament’s email address right here.) They must be made to know that you stand against them and their perpetual quest for re-election if they hate the nation.
Dear _______,
Liz Truss’s energy plan is pure evil.
She will “provide” and “support” the bottom millions with a pathetically less-than-needed £400 handout of taxpayer money (in the form of public borrowing from her interest-charging banker buddies), all in order to ensure corporate energy profits remain at all-time highs? Why did no one in Parliament point out her obvious economic and mathematical fallacies?
First, a handout doesn’t help the British people in the long run if the plan is to make our children pay principal and interest a decade down the road.
Second, her obsession with supply-side economics isn’t going to help prices fall or people in the short term, either. It will take years to get these fracking fossil fuel projects online, and they won’t lower prices because, as the PM seems to forget, oil and gas companies don’t give discounts against the global market price.
Third, her belief that a windfall tax would deter investment is idiotic. Even without their unexpected windfall, profits were still at all-time highs, so why would they turn off that free money spout? Do we even need to mention that the CEO of BP said they would cancel zero projects if there were a windfall tax?
Fourth, Liz Truss is purposefully choosing to ignore the bigger picture: That every single one of those 170 billion pounds in surprise corporate profits is tax money that is not being spent into the real economy to create collective well-being and jobs. Did she not learn basic economics in school?
Sadly, her fake Labour opposition Keir Starmer refused to answer the Conservative question “How high should the windfall tax go?” The answer, dear Parliamentary, is 100%. Energy monopolies shouldn’t get to be Ukraine war profiteers. And they shouldn’t be allowed to completely impoverish millions of British families and rob the rest of us blind.
I am utterly dismayed that any MP would side with war profiteers instead of working families. This is not conservatism — this is corporatism.
Conservatives are supposed to conserve the real economy.
Conservatives are supposed to conserve the working class.
Conservatives are supposed to conserve the environment.
Conservatives are supposed to conserve civil society and democracy.
Conserving massive corporate monopolies does not maximize well-being for the British people. The average British riding has 100,000 people, and protecting the excess profits of energy monopolies will cost every riding more than £100,000,000 that could have been spent into the real local economy to create jobs. This is the sort of thing that MPs can and should lose their seats over.
Members of all parties can and must do what is right. They should stand up for human wellbeing, common sense, and basic maths. They should nationalize and democratize the human necessity of heat and energy. Tax war profiteering at 100% and spend it into the real economy to create warmth and well-being this brutal winter.
UPDATE:
Since posting this article on Medium two weeks ago, Britains newest crop of corporatist cons continue to work on behalf of their corporate backers, enacting perhaps the most heartless bill imaginable during a brutal cost of living crisis:
And that was just the start.
After introducing the biggest tax cut for the rich in 50 years, the pound has now plunged to an all-time low against the $USD.
(Do I even need to mention that the new finance minister is a paid consultant for a hedge fund that’s been shorting the pound?)
A weakened pounds means more crushing inflation for the poor and interest rate hikes that will see millions of homeowners pushed to the bring, and unlike in America, if you lose your house you still owe the bank the full original cost, even if your mortgage is now underwater.
Things are so bad that even the incredibly corrupt IMF has publicly chastised the Con government for its gross inhumanity, which is really saying something.
Inflation and interest will then be followed by brutal austerity, slashing and gutting taxpayers of public services that are already at the breaking point thanks to years of Con cuts.
Make no mistake: Tens of millions will suffer economically, millions will shiver in the cold this winter, and tens of thousands will die with ambulance wait times already breaching four hours.
And this unelected Prime Minister still has several more years in power to loot the working class and oppress the poor on behalf of her corporate sponsors.
So Christians, please…
Pray for Great Britain.
Pray for its political leaders—for conviction, repentance, and selflessness.
Pray that the spirit of Mammon would be broken upon Britain’s shores.
Pray for its very few remaining Christians to rise up and serve well.
Pray especially for the poor.