Britain under Jeremy Corbyn: What to Expect
Theresa May, the worst Prime Minister Britain has ever had, has destroyed the Conservative Party. She will be remembered for being dishonest, unreliable and insincere.
There is now an excellent chance that the appalling Corbyn could win the next General Election.
If Corbyn and the Marxist branch of the Labour Party ever form a government then the British will see employment prospects collapse and socialist and communist tax policies will see house prices dive and house owners faced with penury. Millions of homes will be repossessed.
The pound will go down 25% or more and house prices will collapse by a similar figure. Home owners will be hit by more taxes and regulations.
Britons wonít be able to afford to travel abroad. Travel companies and airlines will collapse.
Rent controls will result in a collapse in property prices and a reduction in the availability of houses to rent.
Interest rates will soar (to 5% to 10% at least) and taxes on property and savings and earnings will all soar.
Wealth will be confiscated with new wealth taxes hitting anyone with modest savings.
Share prices will fall by 20% or more as Corbynís confiscation taxes take hold. Those holding utility company shares may be wiped out because Labour has promised to renationalise those companies and there is a good chance that shareholders will receive no compensation.
Small businesses will collapse under the burden of new taxes and regulations.
Unemployment will soar as the new, higher minimum wage results in service businesses either failing or using more machines.
Rich people will leave the country and the middle classes will have to pay most of the huge tax bill.
Inflation will reach 10% within the first year and will also soar. Once inflation gets out of control the sky is the limit. For the record, inflation this year has hit 10 million per cent in Venezuela. (Imagine what they would do to your savings.)
Pension values will fall dramatically. Only MPs, Bank of England staff and civil servants (and retired civil servants) will be safe (although any public servant, whether employed by central government or a local council, who is under 50 and who is expecting a pension is probably going to be disappointed).
So, what with one thing and another, thereís quite a lot to look forward to if you are a perennially unemployed citizen with an indefinable illness and a good understanding of Britainís benefits system.
Copyright Vernon Coleman March 2019
Adapted from Tickety Tonk, Vernon Colemanís seventh diary Ė available on Amazon as a paperback and an eBook.