It’s called the moron premium. The dictionary definition is a stupid person. First used, entirely correctly, when Liz Truss popped up to show a mouth bigger than a brain can destroy an economy.
Today, the mantle has been transferred seamlessly to Rachel Reeves. Despite taxing the hell out of us from the moment she walked into No.11, Labour’s desire to spend money we patently don’t possess means she will need another £30billion from November’s Budget.
This is moronic behaviour. And the effect is a surge in borrowing costs, putting it at 5.63 per cent, just below the 27-year high.
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The difference is that our borrowing is a quantum higher than in the late 90s and is draining the life out of our present and our future prosperity.
Talk to anybody and they say the same thing: prices are through the roof, but our pay (with the exception of the unskilled bullies who drive trains) has stood still.
And this is where the ‘’moron premium’’ comes into play. If the money coming into your household is not matched by your expenditure, you cut back. Even Netflix or Spotify may have to go! Or you may need a chat with your mortgage provider or bank. It’s the norm.
Not if you’re name is Mr Starmer or Ms Reeves. They want to continue spending on benefits and the like as though we were a wealthy Western nation. That is no longer true.
And even if they were inclined to spend less on the fraudsters claiming they had mental health problems and the like, the useless MPs who came into power in 2024 on the back of the worst Tory administration of all time, were not.
So, we are done for. That looks like Ms Reeves is thinking a capital gains tax on the increase in the value of your house, despite the fact that you took the enormous risk to buy the place in the first instance and have spent a small fortune on it.
For many, the bet on buying a house has seen their most significant increase in wealth, which can then be passed on to their families. Reeves wants to stop that. She wants everybody to be a skint as a Labour voter.
The economy is being weighed down by the moron premium - and that moron is Rachel Reeves - Kelvin MacKenzie
|Getty Images
The only good news from a house tax from this moronic Chancellor would be an absolute guarantee that Labour will be thrown out in a record voting collapse.
The latest poll puts them at 20 per cent - the lowest since they came in. I can see it falling to around 16-17 per cent, which would mean about 40-50 seats in 2029.
Among those who would help push the number of seats lower is a chap called Torsten Bell, currently the left-wing Pensions minister. He has been called by Reeves to help write the Budget.
Think he would be appropriately better named as Bell-end. As a single man in his forties, he doesn’t have the problem that most families have and therefore thinks that making you poorer in order to create some Socialist nirvana is the answer.
It isn’t.
People around the world will only lend to us if they think we will pay it back. Clearly, with interest rates rising, they believe we are a bigger and bigger risk.
The only people in this country guaranteed an income are those working for state-funded organisations or on state-funded benefits.
What a shocking state of affairs. This Labour government is full of morons. In fact, the only way to get to the top is by being stupid. And in Ms Reeves, we have the moron-in-chief.
I absolutely detect the idea pedalled by Mr Starmer that Labour’s tax rises don’t affect ‘’working people’’.
It’s a fraud that should face a jury at the Old Bailey.