Congratulations to Rishi Sunak on becoming UK's prime minister today. His short-lived predecessor Liz Truss was not only in denial of the climate crisis but was actually actively hostile to renewable energy. Even though she only served 45 days, she imposed a windfall tax on renewables and nuclear energy only and promoted exploitation of oil and gas in the North Sea by issuing new exploration licences. [I am not supportive of nuclear energy.] The climate is in crisis. It's deteriorating and we're regularly breaking temperature records in UK despite so-far having it very easy compared to the rest of the World. It can't be simply denied as the Tories have been doing. Denial of the climate crisis is insane. It's going to get worse and extreme protests like closing the M25 are going to increase, the idea being that the protestors are stopping normal conduct of life that is killing the planet. Hopefully Rishi will tax the rich to pay for public services. He should know - through being filthy rich - that they're not even going to notice it.
OpenDemocracy has dirt on the longtime Boris Johnson facilitator and collaborator
Rich as fekk, privately educated at ridiculously expensive public schools, owns many properties worldwide, cut benefits, helped cause the 2008 financial crisis, has a hedge-fund company called Theleme ! registered in the Caymen Islands, unknown business dealings, his missus Murty is richer than the Queen, has strong links to right-wing think-tanks, employs slick PR.
Last week, in a largely unreported decision, Rishi Sunak quietly announced that private equity owned companies would now be eligible for government bailout loans.
This means that fabulously rich private investors like Blackstone, CVC Capital Partners, Apax Partners, Permira Adviors, and Bridgepoint will have access to government business support schemes such as the coronavirus business interruption loan scheme (CBILS) and coronavirus large business interruption loan scheme (CLBILS).
In many ways, this aligns with the government’s broader strategy towards COVID support schemes: they are primarily designed to support ‘business’. And this means that although some jobs may or may not be saved, this is incidental. The main aim is to preserve the corporate economy.
Overall the Budget seems designed to fuel a two-tier recovery, where the winners from the pandemic prosper at the expense of everyone else. Ultimately, the effect is to shift the cost of the pandemic onto those who can afford it least. In practice this is disproportionately the young, women and ethnic minorities.