LONDON (AP) — Britain’s new left-leaning government said Sunday that the nation is “broke and broken,” blaming the situation on its predecessors ahead of a major speech on the state of the public finances that is widely expected to lay the groundwork for higher taxes.
In a sweeping assessment three weeks after taking power, Prime Minister Keir Starmer’s office professed shock at the situation they inherited after 14 years of Conservative Party rule, while releasing a department-by-department analysis of the perceived failures of the previous government.
The critique comes a day before Treasury chief Rachel Reeves is expected to outline a 20-billion-pound ($26 billion) shortfall in public finances during a speech to the House of Commons.
“We will not shy away from being honest with the public about the reality of what we have inherited,’’ Pat McFadden, a senior member of the new Cabinet, said in a statement. “We are calling time on the false promises that British people have had to put up with and we will do what it takes to fix Britain.”
Starmer’s Labour Party won a landslide election victory earlier this month following a campaign in which critics accused both major parties of a “conspiracy of silence” over the scale of the financial challenges facing the next government.
London set itself up as an industrial and financial hub for an empire. Then the empire went…but they joined the EU, deindustrialized…but kept the tech industry and finance (some say money laundering) hub…now the children of deinstrialization took them out of the EU and the UK is now the financial heart of an empire without a major market to pump blood through…shit’s gonna be tough.