The Budget Proves that ‘Burnhamism’ is a Sham
The government’s tiny cost-of-living measures are little help for households at breaking point.
TL;DR
- Andy Burnham's government announced a budget including measures to ban subscription traps, tackle noisy public transport users, and scrap gas standing charges.
- The budget extends the VAT cut on electricity bills and offers a £100 payment to households, but these measures are not well-targeted and are insufficient to offset significant financial hardship.
- The Office for Budget Responsibility forecasts a decade of stagnation, with real household disposable incomes per person only 1% higher than pre-pandemic levels by 2027-28.
- Potential future crises, including climate breakdown, geopolitical conflicts, and an AI bubble burst, could further exacerbate economic decline.
- Critics argue that Burnham's approach, focused on minor interventions, fails to address the underlying economic issues and the growing fear and insecurity driving support for the far-right.