This harsh budget disperses around the nation like filthy smoke. The effects are harsher in the long run, but it feels terrible right now. People who are clinging to a modest but simple life will be forced to the brink of impoverishment. And those who are already there will perish.
Money is what the state needs, and lots of it. Specifically, five and a half trillion more. In only a single year, there has been a 45% rise in overall revenue. This is not going to happen, even if everyone is stretched to the breaking point, which they will. It’s almost beyond what the state can handle.
However, there will be sufficient pressure to operate the tax system. By making life terrible for those who are already paying taxes, it will achieve this.
Because the corporates have been shielded, a unique torture chamber will be set up for small businesses. Because of the deduction at source, the salaried class will be powerless, while others will suffer greatly as a result of their inflated expectations.
Is the IMF acting or is it truly satisfied? We’ll find out soon enough, but in the interim, this unelected administration has accomplished something unprecedented. Normally, governments would contest the idea that other organizations set their budgets. This one, the PM included, has pointed the finger of blame squarely at the IMF. It has shamelessly passed the blame while simultaneously discarding any idea of sovereignty.
There is no denying that our economy needs to be fixed, especially with regard to the role played by the government.
