Ever since Rishi Sunak was announced as Britain’s next prime minister, the Labor Party has attacked his wealth as a moral failing.
MP Nadia Whittom was quick to tweet: “Rishi Sunak and his wife sit on £730m. Remember that when he talks about ‘tough solutions’ paid for by the working class.”
It was a purely divisive statement, typical of class warfare, which Labor believes will win the next general election. For the madmen in the party, a multi-millionaire prime minister in a cost-of-living crisis is somewhat paradoxical; You cannot be rich and worthy. Property is theft, excess wealth should fund public services, and so on.
During Mr Sunak’s first Prime Minister’s Questions, MP Richard Burgon also pointed out that a nurse would have to work for 20,000 years to amass the Prime Minister’s fortune.
Despite its envy of wealth, Labour’s problem is that Britain is still an aspirational country. Most of us want to make money, buy a house, and try to build wealth for ourselves and our families. Britain knows that the wealthy are not all greedy, selfish hoarders, but hardworking, happy, and often both.
Mr. Sunak’s victory is not only a victory for multiculturalism, but a reminder that ambition can take you anywhere.
The bulk of Mr. Sunak’s wealth belongs to his wife, not his, and is based on a small stake in his Indian father’s large IT company. And after a successful career as an investment banker, the Prime Minister did not need to work, but he devoted himself to public service.
As Prime Minister, he will work long, hard hours for the good of Britain, not himself. Now the new prime minister will have to make difficult decisions on taxes and public spending, which will cost him personally.
It is an inconvenient truth for Labor that Britain relies heavily on taxes paid by the nation’s richest people. High wage earners are needed to live and work here; without them we would either pay more taxes ourselves or see standards of public service decline.
Even the rich don’t cost us much. They send their children to private schools and use private medical care. The rich pay huge amounts of taxes and there is a tipping point where excessive taxes drain the life out of the economy. The highest rate of income tax in the US is 37% and comes with an income of £460,000; In the UK, the 45 per cent rate starts at £150,000.
The prime minister said his solution to the economic crisis would be “fair and compassionate”. We should prepare for tax rises and spending cuts in next month’s Autumn Statement; we hope it’s done in a truly fair way that doesn’t penalize hard work and wealth.
Labor was founded as a working class party but is now led by a patronizing middle class who think they know what’s best for ordinary, working people. The opposition says the prime minister’s wealth is his Achilles’ heel, but his lack of need to work and lack of motivation for money could be what saves the Tories.