Guest essay by Eric Worrall
Is Prime Minister Flip-Flop planning £60 billion of tax rises and spending cuts so he can provide large “climate pledge” payouts to foreigners?
Cop27: Sunak says it is ‘morally right’ for UK to honour climate pledges
Prime minister tells summit Britain will honour commitments but makes no mention of reparations
Aletha Adu Tue 8 Nov 2022 07.08 AEDT
Rishi Sunak has said it is “morally right” that Britain honours its climate change commitments in his speech at Cop27, but he made no mention of paying reparations after Boris Johnson said the country cannot afford to do so.
The prime minister made a very short appearance on the world stage on Monday, after making a very public U-turn on his attendance in Egypt – the same reversal that may have left him living in Johnson’s shadow, as he was forced to speak hours after his rival.
He said he believed the conference could deliver on the promises, and announced the UK was tripling its funding to help nations adapt to the impacts of climate change.
But he was unable to spell out how developed countries, who in his words had been “unfairly burdened with the carbon debt of richer nations” were going to be supported.
…Read more: https://www.theguardian.com/environment/2022/nov/07/cop27-sunak-says-it-is-morally-right-for-uk-to-honour-climate-pledges
WUWT predicted a few days ago that Prime Minister Rishi Sunak going to COP27 was a bad idea.
Former Prime minister Boris Johnson made a statement that Britain cannot afford climate reparations. I’m not sure if Rishi is still taking orders from Boris, but Rishi notably avoided using the phrase “climate reparations”.
There is a big question over where all this money Rishi Sunak is promising is supposed to come from. Britain’s public finances are in a precarious state.
All the government expenditure on renewables and Covid lockdowns, and all the damage to the economy from high energy prices, have caused British government debt to blow out so much, last month global markets forced Britain to accept a rise in the cost of borrowing.
Given the number of British people struggling with power bills and the high cost of living, I suspect the last thing Britons want right now is for their show boat Prime Minister to start handing large amounts of British taxpayer’s cash to climate supplicants.
In my opinion only the US Midterm elections stands in the way of the USA joining this insane Western cash giveaway. Australia is backing the climate reparation push, and Britain has promised bigger climate payouts. In my opinion Canada and New Zealand will likely fall in line. Only the USA can pull the plug on this dash to give all our money away.
I actually feel like I’m being mugged 🤬
“I actually feel like I’m being mugged…”
It’s called depression.
Yes, depression as in economic depression is what the STEM illiterates are driving us into. Psychological depression will be the result for billions of people.
That shows you are still thinking straight, because you are being mugged.
The UK cannot even manage to look after it’s own 60+million people at home never mind tripling aid to other nations. At home in the UK energy prices are soaring and the government is committed to subsidising those unable to pay their bills this coming winter. The money for all this has to come from somewhere . .
.. The money for all this could come from fracking. Or rather, it could have come from fracking before Mr Flip-Flop was appointed supreme leader. It is already looking like Liz Truss ran the country better than both her last two predecessors and her successor.
Exactly, how dare she not fall in line with printing more money 🤓
Ah but there’s a big difference. Liz Truss was going to print more money for the British people, paid for by production of natural gas which would both benefit the British people and pay for the printed money. Rishi Flip-Flop Sunak says he will raise taxes on the British people, cut services to the British people, and give the British people’s money to ultra-wealthy corrupt leaders of certain countries. That triple whammy will surely destroy both the non-elite people in Britain and the Tory party.
“and give the British people’s money to ultra-wealthy corrupt leaders of certain countries”
Rishi isn’t helping the people of those nations, he is enriching their leaders.
She was proposing printing, however, she had an actual plan to produce more wealth (eventually) to back it up—through fracking
At least she showed some sign of reality, interesting how long it was before the banking cartel had her turfed out.
She announced unfunded tax cuts and stated that these would stuimulate economic growth in order to pay for themselves.
Economic illteracy. Tax cuts for the rich are less stimulating than tax cuts for the poor as the poor need to spend the money – they can’t hoard it. Even worse, the implication was that there would be cuts (YES, CUTS) to public services thus suppressing the economy even further.
Thatcherism needs massive cash injections to prevent bankruptcy. In the ’80s we had North Sea Oil and we still needed to sell off publically owned industries to keep the ship afloat. Temporarily. High inflation and high unemployent hit at once. The north has still not recovered outside of the largest cities.
You can’t buck the market with voodoo economics.
She had no grip on reality and bankrupted the country in 5 weeks. She only took that long as she was held up by the Queen’s funeral.
Speaking of economic illiteracy, here comes our favorite socialist.
Tax cuts can and do pay for themselves through stimulating the economy. The higher the current tax burden, the greater this stimulating affect is.
And despite what you have been taught to believe, it is tax cuts to the rich that stimulate the economy the most. The reason for this is quite simple, once you abandon your socialist inspired hatred. Taxes decrease the incentive to invest. Lowering tax rates increases investment. Without investment there are no jobs and no good for the poor.
Spending does not boost the economy, never has, never will. If it did, direct government spending would have ensured that there were never any recessions.
A couple points you missed, Mark – When the rich are highly taxed, they hire accountants to find ways to avoid paying, but when those taxes are cut, it isn’t worth the cost and effort to avoid paying taxes and they end up actually paying more tax.
Also the poor are taxed so low that cutting them has no effect. Many of the poor pay no net taxes so there’s nothing to cut, and many others are already getting more from government than they pay.
Rishi appears to have succumbed to the narrative that so many Conservative leaders fall victim to – that in order for a Conservative to win votes he/she must move the party leftward. It’s a suicidal move that they’re blind to. He’s signed the death warrant for his party, and when the UK falls under the thumb of the Labour Party and its massive majority, the Brits will suffer far more.
Have you brits any idea how like Tony Blair this man sounds.
They’ve obtained Harry Potter’s wand
“But he was unable to spell out how developed countries, who in his words had been “unfairly burdened with the carbon debt of richer nations” were going to be supported.”
Every less rich nation has benefited as a result of the advances of the richer nations. We owe no carbon debt- even if such a thing as a carbon debt was real, which it isn’t. If those less rich nations can’t control their populations- and they continue to destroy their forests and build in their wetlands- and continue with corrupt governments, it’s their problem not ours.
We gave the world the benefits of the industrial revolution. They should pay us back with some of the prosperity which the industrial revolution brought around the world (and especially from the Swiss bank accounts of all those 3rd word dictators who have robbed their citizens).
They also should thank us for the 10% greening of the planet, leading to increased crop production while consuming less water. Never mind that anthropogenic CO2 contributions are only 3 to 5 % of the total increase, It’s feelings that count, and I’m feeling like reparations are going nowhere.
“even if such a thing as a carbon debt was real, which it isn’t”
That’s the real problem. Rishi thinks other nations have been damaged due to the CO2 actions/inactions of people in the UK even when there is no evidence that UK CO2 had anything to do with the weather in those nations, or that any CO2 from any nation had anything to do with the way the weather unfolds.
So Rishi is trapped in the false illusion that CO2 is harmful, and proceeds to send UK tax money to people of other nations for no good reason.
Michael Mann must be so proud. Look at how he has turned the world’s elites into blithering idiots when it comes to CO2.
Our gullible/conniving leaders are leading us down the path of destruction with their CO2 fixation.
Rishi coudn’t prove that CO2 is harmful if his life depended on doing so. Rishi is depending on the word of others for his destructive position. He obviously understands nothing about CO2.
Idiocracy. All over the Western World.
Well, today’s the day. Election day. Today we will see if freedom still has a chance in the United States.
If those idiots accept the guilt complex of rich nations’ carbon debt- then the logic leads as follows- the richest of the rich nations must bear the most guilt- so they must lose most of their wealth paying reperations- leave them just enough so they’ll be brought down to the net wealth of the average citizen- seems fair to me
THE WORLD’S COAL-FIRED POWER PLANTS
The leaders of Canada and the USA are planning to close all coal-fired power plants in a futile attempt to fight climate change.
The following information reveals, not all counties are deluded by unwarranted climate fear mongering, i.e., the CO2-induced, climate-change hysteria.
World Wide Coal Plants
Here we go to save the Planet!
The data shows the operating coal plant (UNITS) in just EIGHT COUNTRIES of the world.
After going to this site, click on Summary Tables, then click on Coal Plants by Country (units)
Each coal plant may have several units, such as (2) 600 MW units at a site.
To see the table open the URL at the top.
Here come the CANADIAN politicians, who are going to shut down the 15 remaining plants (which likely have more than 30 units) and save the planet!
There are a total of 4819 units in operation worldwide, and Canada will shut down 30 units to save the world?
The US has 458 units, at 225 sites, and demented Biden proclaims the US will shut all of its coal plants in the near future.
What the hell are Canadian politicians and Biden smoking?
Rishi Sunak is a Jim Hacker for the 21st Century
He he 🙂
Shame Sir Humphrey Appleby was replaced by Baldrick.
tomo, I had to look up “Jim Hacker”, and find the fictional Baron James Hacker to represent the finest of dry British wit. well done.
The Right Honourable Rishi Sunak, soon to be leader of his Majesty’s most loyal opposition.
I expect him to lose his seat in the next election, along with most of his party.
You underestimate the herd mentality. Only if we get major power cuts, rationing and economic… Oh. I see what you mean.
Sadly we vote along party lines rather than the person who aligns most with our views
Not their money to give!
“Foreign aid is taking money from poor people in rich countries and giving it to rich people in poor countries” – Ron Paul
Having lived in some of these poor countries I can testify that Ron Paul is spot on. It would not surprise me if their governments squander at least ten times the money received in aid through mismangement, fraud, wasteful military expenditure etc.
This is why I believe we should follow a different strategy in the countries that are prepared to cooperate: Send experienced people (engineers, accountants, doctors, teachers, farmers etc) on short contracts for say two years to help them set up more efficient structures and practices.
According to our socialist friends, when rich people squander money, they are improving the economy. After all, all spending is good. While investing that money is the worst thing you could do with it.
One of the best ways to help poor countries is buy from them, to help develop their industries and farms, instead of forcing surplus and unwanted food on them which stifles their farms and makes them less independent. Even if all the only goods they have for sale are tourist trinkets, native clothing, and other cheap stuff, it’s a beginning.
Back in the 60’s, Japan was known as a source of cheap trinkets and toys.
The belief was that nothing of quality came from there.
Korea and Singapore also went through a similar phase.
I remember when products from Hong Kong selling on the world market more than 60 years ago. The quality was not too good but they steadily improved until they were sadly given back to China.
A perfect description of Foreign Aid.
I have seen Diversity, equity and inclusion producing a small very wealty elite in poor countries while most living in them got even poorer.
Not anymore, now it’s 2 trillion per year….
Is the COP a comedy festival?
Well, equally funny!
The developing world needs to take a closer look at the state if things in the US, Europe, etc., there isn’t any money left to give them. We are all broke now.💸
There is lunacy on steroids among our Western leaders.
Our countries have tens of trillions of debt
– that our great grandchildren will be having to pay off –
but still borrow more to give aid and support for renewables for Africa.
As long as China is still regarded as a ‘Developing’ country, we should not support these climate reparations. Besides aren’t these reparations for our past industrialization pollution, whilst China and India potential recipients of our largesse are doing exactly the same thing we did, so why reward them?
Personally, I don’t consider that there is any looming climate catastrophe, based on the current benign climate change over the past 20 years, or even last century, so why are we making such a fuss over a climate non-event?
The concept of climate reparations is absurd. Every one of those climate victims uses fossil fuel and modern technology to improve their own lives.
Besides, there is no evidence these nations have been damaged by CO2.
Germany is using open-cast lignite in its power stations. We (well, our political class) wet themselves about a shale gas pad.
But, but every time the BBC interviews people opposed to fracking in the UK they mention that one of the Cuadrilla “earthquakes” ,as they put it, measured 2.9 on the Richter scale. Oh horrors!
2.9 is a category micro on the scale and is “generally not felt by people although recorded on local instruments”
Problem is our politicians are as ignorant as local protesters.
I’d like a look at the Green Climate Fund accounts. Income and expenditure. I know that management salaries are five figures already.
What the “developing” countries need is to become “developed” by the provision of physical and energy security. The provision of clean water and a reliable, stable source of energy is what is needed not pontification from western leaders.
Rishi Sunak must pay for his promises with his own money that should fix it
africa also wants to develop its considerable gas and oil resources . having its cake and eating it too
And why not?
If the west is badly managed and willing to waste our money, thats’ our fault.
Why criticise the African nations for making the most of it? Why should suckers get a free ride?
It’s a bit hypocritical to demand CO2 reparations, while increasing your own CO2 footprint.
Yes, it is truly insane. The country is in a fair collection of crises. There is a migrant crisis, which they are resolving by giving free hotel accomodation to anyone who can make it to shore. As tens of thousands are doing.
There is an energy crisis, largely caused by having at the same time demolished the only reliable source of electricity they had – coal – while at the same time promoting EVs and heat pumps.
The effect of the migration to wind and solar was to increase dependence on gas, just at the time that Russia stopped selling it and Europe banned buying from them. Hence prices soared, so this created a cost of living crisis.
There is a financial crisis, narrowly averted for now, which peaked a few weeks back due to the economically and financial illiterate duo of Truss and Kwarteng, who thought they could invent on the fly and without other advice, a policy of borrow a huge amount and cut taxes by a huge amount. The Lord would provide gilt buyers. Except he didn’t, this time.
This, and the leap in interest rates it produced, was in a fair way to bankrupt the private pensions industry, crash real estate, and because of devalued collateral, bankrupt the banks.
Inflation is, if not galloping, at least in a decent canter. Of course this is the delayed bill for the lockdown and the huge irrational spending that accompanied it, all financed from borrowing. That was Johnson, not Truss.
And all they can think of to do now is to fly off to the Red Sea and promise to spend more money the country has not got, in order to compensate lots of countries for losses they have not incurred!
Saving the planet, it seems.
Meanwhile if an election were held today the Conservatives would probably get less than 50 seats, Labour would be in by a landslide. And the only thing worse than the present surrealistically absurd government would be the disunited anti-Semitic Trotskyites of the Labour Party sitting there like rabbits in the headlights talking about gender recognition, decolonization, more about climate change, and making it easier for the public sector unions to strike.
Like, lets move all electricity generation to wind and solar by 2030. How many turbines would that be? Give me a few minutes to figure that out…
Come back Nigel Farage, my correspondents are saying, everything is forgiven!
That was not only Johnson. It was also his Chancellor, Sunak.
Who is apprently the best choice the Tory pary has left to try and lead them. If there’s no-one better it’s probably time to throw in the towel.
I disagree re Liz Truss and Kwasi Karteng. Their borrowing would have made life much better for non-elite Brits in the short term, and could have been paid off comfortably from the proceeds of fracking for gas in the longer term. Rishi Sunak’s policies spell misery for Brits in both the short term and the long term.
But whatever we think about it, the problem is what the markets made of it. Their reaction, right or wrong, was to dump sterling and gilts. At that point all the other consequences were going to happen.
This is what made Truss’ and Kwarteng’s policy wrong. Its not so much the merits of the thing, we can differ about this. Its that the people who needed to buy in to it were not going to. The failure was not seeing that this was going to happen, and what the consequences were going to be.
The country was 48 hours away from complete financial meltdown. The only way to avoid it was replace Kwarteng, do a U-turn, and the interventions by the BoE. That is all you need to know to see that Truss and Kwarteng had got it catastrophically wrong. Any policy which leads to that was a disaster. If you like, that is what they were being paid not to do.
I somewhat agree that fracking and use the royalties would have been sensible. But the timing was all wrong, first get fracking going, then borrow against royalties if you like. Not announce huge borrowing and tax cuts and spending and express pious hope about some unquantified future revenues coming at some unspecified point in the future.
I really do disagree with “The country was 48 hours away from complete financial meltdown.”. There was an adverse reaction in the financial markets, but how many times have you seen big moves in the financial markets move back again. If Liz Truss had held her nerve, she had good leverage over the elite Tories – get used to it or I will take the whole Tory party down with you. Then if she had explained how her policies would actually work for the benefit of the British people, she might have prevailed. She was rolled so fast we will now never know.
I also disagree strongly with “The only way to avoid it was replace Kwarteng, do a U-turn, and the interventions by the BoE.”. There is very rarely only one solution to a problem. This particular ‘solution’ looks like no solution at all, in that it helps the elites to retain control but it does nothing to actually ease the pain of the British public. In fact, if I am not very much mistaken, the British public are about to discover from COP just how thoroughly they are going to be shafted by their new supreme leader,
Well, this is where we differ. The evidence is that the margin calls to pension funds would have taken down most of them, certainly the big ones, in 48 hours. Anyway you look at this, it would have been systemic crisis following on from the implications for the finance sector as a whole.
It really was urgent.
Oil and gas will run out. And now that the UN EPI Net-Zero Banking Alliance and people like Mark Carney are threating to withhold funding for oil and gas developments (to avoid sinking money into “stranded assets”) it will run out a lot sooner. When oil and gas go away virtually everyone in the developing world will start burning coal because they have it. They will burn it on a scale we’ve never seen. Africa, China, and India are big places and they want a turn at prosperity.
So, can we make sure they’re ready to pay us some reparations when the time comes?
well i am over 60 and remember being told oil gas and just about everything else would run out before I was 30 . curious that ZERO of that has- or is likely to, before I cark it, or for that the grandkids I wont have cos I listened to these scumbags and Zero pop bullsh*t
Climate experts and the politicians who blindly trust them must think the public are idiots. We cannot see through their long winded explanations. We will not notice when they do not get straight to the point.
This was exposed recently when Senator Gerard Rennick asked a reasonable question of the Australian Bureau of Meteorology.
As an old man with no scientific qualifications, I would like to ask Prime Minister Rishi Sunak three questions:
id hazard no
to 1 and 2 and yes to 3
I gather they showed a scare you silly compilation of the recent flood fire etc as a nice psyops warmup. I had to walk away from the screen listening to the sunak drivel
and radio here in aus is jammed with the same crud
What a complete nonsense that speech from Sunak was.
It should be remembered the UK already pays a fixed 0.7% of GDP into what is euphemistically called “The Foreign Aid Budget. That money roughly £15 billion/year is given to charities and quangos operating abroad to spend on travel hotels and generally other good deeds like that. When especially good deeds need to be done like buying the latest President of some kingdom or other a new Mercedes or Bentley then the Foreign aid Budget stands proud and ready to give.
Sunak is playing politics (is there any other sort these days), when he goes on about additional support for ‘affected’ nations. That is code for, we will spend some more slush funds on totalitarian regimes that need some new Mercedes and Bentleys. We will of course provide the state funded agencies needed for that important work.
Sunak has presided over the greatest economic damage to the UK ever. His handling of the Covid ‘crisis’ was so naïve, so juvenile, literally £billions were lost to organised crime gangs under ‘business support’. The treasury has concluded the only thing it can do is write it all off!
He introduced his famous ‘eat out to help out’ program, as a help to the restaurants and hotels industries his policies had all but destroyed under lockdown. The government were prepared to pick up half the bill, if you booked a meal out? That is how pathetic his thinking is and was.
Today the UK is being targeted by organised criminals who are shipping, literally shipping in a thousand people/day across the English Channel from ‘war torn’ France. All coming in small dinghies and being collected mid channel by our Royal National Lifeboat Institution/service.
Sunak’s allegiance is not to the UK, it is to the globalist’s ambitions and particularly the WEF under Klaus Schwab. These people will not stop until they have destroyed the Western Economies by destroying each individual Nations energy industries. Which translates into, all industries.
The UK has the largest natural gas reserves under shale deposits in the whole of Europe.. Despite that innate national good fortune our PM is about to sign a supply agreement for LNG from the USA? He is doing this, in preference to extracting our own indigenous supply in Britain?
He immediately banned fracking for gas on becoming PM, reversing the policy of Liz Truss who briefly lifted the moratorium on fracking.
This dedication to Global authority is what individual nations are up against, we are all in a bad place.
Another head of state attending COP27 with a large begging bowl is the President of South Africa who recently wrote: It has long been established that there is a clear connection between the frequency of extreme weather events and climate change. It is also well-established that climate change has increased the likelihood of such events recurring.
He evidently did not read the IPCC reports. Even they are not prepared to link a particular weather event and climate change as he did with recent flooding in South Africa. Of course no one in the mainstream media will fact check his statement and call him out for misleading the public.
Full marks for referring to the IPCC assessment reports.
When you can’t find support even in a report written by an organization whose terms of reference assume the consequent, you’ve got nothing.
I do understand why the president of South Africa or Trinidad & Tobago would be asking for handouts. Who wouldn’t? But what sort of imbecile elbows his way to the front of the line to hand out borrowed money?
The South African president is a trade unionist who has become a billionaire in local currency (roughly half a billion $) so I doubt he made his money by actually producing something worthwhile.
I believe all recent South African presidents became super rich once in the post.
“…’unfairly burdened with the carbon debt of richer nations….’”
A manufactured and specious debt, spawned by undeserved self-guilt for being successful; while the leaders of the so-called “burdened” are allowed (encouraged?) to continue to take the money and buy ocean-going yachts, penthouses in London, idyllic chalets in Davos, and thousand-acre ranches in Montana, while their people are kept in ignorance and poverty, all driven by a non-problem.
What is wrong with these people?
Boris was prisoner to his third wife. Rishi is prisoner to his woke and “work from home” civil servants.
Spent some time today looking at the impact of these reparations, some $2t per year.
Developed Economies total GDP in nominal terms is $57t.
Because we all know government spending will be untouched the $2t will need to come from the non-government part of the economy. For developed economies government spending averages approx 35 to 40%, meaning the climate reparations will come from the remaining $34 to $37t non-government economy.
Approximately 6% of the non-government economy will be taken away out of the economies and given to other countries.
Where is the precautionary principle when it comes to massively impoverishing future generations we are supposedly so concerned about?
This grinning idiot Risak will cause even more harm to Britain, already struggling to survive after the depredations of a series of imbecilic climate alarmist Prime Ministers going all the way back to Tony Blair. How can anyone be so stupid? Is there something horrible in the water, or is it excessive inbreeding among the privileged classes, or what?
I warned these idiots way back in 2002 and provided more details in 2013. I actually predicted to within one year the exact energy shortage scenario that is unfolding this winter.
Months ago I said Britain was facing a cull of its elderly and poor this winter, and these incompetent-fool leaders keep making it worse.
The alternative interpretation is that this cull is deliberate – one cannot rule out that possibility – it is difficult to believe that any individual or group could be this wrong, this utterly obtuse, for this long.
How long before this PM is cancelled? One way or another. I am surprised the Brits have put up with this crap for this long. Along with the Aussies.
What a shame. Just sayin’.
The PM is an example of how the climate change crowd will only be satisfied when the developed nations have attained developing nation status.
“Developing” countries have been damaged by developed countries! More likely their lot has been improved by developed countries with modernization in infrastructure, medicine, trade, communication and transportation.
The climate change crowd have created the entire narrative of guilt and obligation based on a narrative that is false and the only solution is for money strapped countries, caused by their green energy drive, to pay vast amounts of money to someone else who has not been so successful. And the WEF organized to create the mess.
Representation gone amuck.
Create some climate crypto for weather worriers to pile onto and donate to their hearts’ content.
This might just bring on the end of the climate alarmist and green guilt taxing trend.
Debate has never been so hot on the media and that’s the last thing the msm, or now, taxing government, desires.
They are so out of touch with voters it’ s surreal
I loath Sunak, a weak little man more interested in his own image than the good of those he is supposed to serve.
Joining the headless chooks perhaps?
I’ve read that sunak is associated with the WEF. If this is true, then most likely he is just following what Klaus Schwab wants in regards to international wealth redistribution.
Fun fact, Maurice Strong had a role in the formation of the WEF.
It almost seems like these elites are determined to drive western populations into poverty.
The UK no longer has a conservative party. There are just a New Labor Party (formerly conservatives) and the Socialists (all the rest)
The nations demanding reparations should in the first instance demonstrate that they have proper climate records extending over, say, 100 years at least in support of their claims. They should then show exactly where the alleged changes have taken place, and prove that human CO2 emissions are responsible. That ought to put a stop to this latest bout of climate nonsense.
Word of warning about this guy. He’s a multi-millionaire, his wife is a multi-billionaire and pays little or no tax in the UK. He is also financially involved at some level with the Moderna vaccine. He’s a globalist and definitely in the same club as the attendees at COP27.
That’s the first time for years I’ve heard Strong;s name come up in these kinds of discussion.
He’s lives in same state as Wuhan Chiba, doesn’t he?
Sunack has shown his colours since he stabbed Boris. Seems to think that being PM is just like being corporate director, where they all push each other off the perch and think that’s fine .