Home » News » The UK’s Ultra-High Debt Crisis: A Warning for Hong Kong Immigrants

The UK’s Ultra-High Debt Crisis: A Warning for Hong Kong Immigrants

Jiang Leshi, who has been a criminal prosecution commissioner for 12 years, was a barrister in the UK before coming to Hong Kong. However, he has never worn tinted glasses that favor the West. He is frank and “not right” about Britain, which is very rare. He recently published an article in “China Daily”, breaking down the crisis of the UK’s ultra-high debt, saying that the good life prospects promoted by the British government to Hong Kong people are actually lies and should be considered by Hong Kong people who intend to immigrate.

Legal expert Roger Kong said that the UK is in a very high debt crisis and its public finances are in jeopardy. Hong Kong people who immigrate to the UK should not believe the lie of “a good life”.

Earlier, the government of Birmingham, the second largest city in the UK, declared bankruptcy due to insufficient revenue and depleted coffers. Several other cities are also in the same predicament and are queuing up to follow suit. The British government has seen many “sad cities” going bankrupt, but it has stated that it will not rescue them and will let them fend for themselves. Jiang Leshi said that the government is so ruthless because its debt situation has reached a very serious stage and it can be said that there is nothing it can do.

He pointed out that the UK’s national debt reached 2.6 trillion pounds in May, which was the first time since 1961 that it was higher than the gross national product (the average national debt-to-GDP ratio from 1975 to 2022 was 43.8%). It is estimated that the government will reduce this year’s total 10.4% of income goes toward debt repayment.

He quoted an analysis by the rating agency Fitch that the UK’s debt expenditure accounts for a higher proportion of government revenue than other developed countries. It is estimated that 110 billion pounds will be needed to repay debt this year, twice as much as in 2021, which is the same as the 131 billion pounds in education expenditure. More or less, in other words, the money spent on public services will inevitably have to be frugal.

Jiang Leshi said that due to the sharp rise in inflation, employees in many industries, including medical care, police, teachers, etc., have gone on strike to demand salary increases. However, the government has to repay heavy debts, which can be said to be in a tight situation. He pointed out that the British Budget Office issued a warning in July, saying that from now to 2029, the British public finances are in danger and it will be difficult to get out of the woods. The dark tunnel seems to be far from the exit.

Regarding the BNO Hong Kong immigration plan launched by the British government three years ago, Jiang Leshi has already understood its true intention, which is to use it to steal Hong Kong talents and absorb their wealth to attack Hong Kong, which can objectively solve the problem of British divorce. The post-European labor shortage problem has also led to the introduction of funds to help the British economy and government finances.

The British government not only has to repay huge debts, but also cope with demands for salary increases from various industries. It is in a tight position, so increasing taxes and cutting benefits is the general trend.

It seems that the British government’s debt is getting higher and higher, and it is becoming more and more “poor”. Its wishful thinking of “absorbing water” by introducing BNO immigrants is even more obvious. Therefore, Jiang Lex bluntly said that the good life prospects promoted by the British government to Hong Kong people are “actually a lie”. Therefore, Hong Kong people who intend to immigrate to the UK should not rashly give up the good environment in Hong Kong in exchange for the “bad social environment” in the UK. .

Jiang Leshi once said two years ago that there are three types of Hong Kong people who immigrate to the UK through BNO: 1 are dreamers who are deceived by propaganda and think they can live a good life in the UK; 2 are losers who have not succeeded in Hong Kong and think they can live in the UK. They can bounce back to the UK; 3 are fugitives who left the UK to escape criminal responsibility. The first category accounts for the majority, and is exactly what the British government wants to attract. However, looking at the current environment in the UK, their dreams are fragile.

Hong Kong immigrants bring people and money, which has also caused competition among different regions in the UK. Scotland is moving towards independence. The government launched a new policy a few months ago to allow BNO Hong Kong residents who have lived there for three consecutive years to be eligible to study in tertiary institutions. The school will receive tuition assistance starting from the 2023 academic year. The Scottish government is obviously using this as an inducement to attract BNO Hong Kong people to settle there. These figures are indeed very good. At least there are more people buying properties, renting properties, saving, and other living expenses. It is very important for unpopular areas like Scotland. Of course, I want to grab it.

The UK’s public finances are in such a bad state that increasing taxes and cutting benefits is definitely a general trend. Hong Kong people who have immigrated to the UK or have such plans should take care of themselves.

Tokito Monogatari

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I mentioned in my previous article that Lee Kuan Yew publicly lost weight and exposed the root cause of the disaster of Britain’s “democracy” before it was too late. Friends in the political circles resonated with it after reading it. I remember that Lee Kuan Yew gave tips to the leaders of the SAR several times and reminded Hong Kong people to ” “Know the way”, all the results have come true. If Hong Kong people could listen to the wise words early in the morning, they would avoid causing catastrophe later on.

Lee Kuan Yew met with Chief Executive-elect Tung Chee-hwa shortly before Hong Kong’s return and reminded him that Britain had left many landmines in Hong Kong and that he must be careful.

Friends in the political circle said that compared to most Hong Kong people, including political leaders, Lee Kuan Yew was more thoughtful and discerning about Britain’s plans to withdraw from Hong Kong. He remembered that a few years ago, Hang Lung Group boss Chen Qizong once told a “secret story”, saying that shortly before the handover in 1997, Tung Chee Hwa went to Singapore to meet with Lee Kuan Yew. The other party specifically reminded the future chief executive that the British had left many landmines and must careful.

Chen Qizong said that Hong Kong people may not understand Lee Kuan Yew’s advice at that time. After all, he grew up in political struggles and had long-term confrontation with the British, so his understanding was naturally deeper. After listening to this story, I looked back at what happened after 1997. What Lee Kuan Yew said was indeed “all in China.” The landmines that disappeared began to explode one after another several years later. Uncle Dong may not have known it at all, but his situation at that time was like “going deep alone”, and it was not easy to defuse bombs.

Lee Kuan Yew believes that Hong Kong needs a “street warrior” as chief executive to avoid conflicts and confrontation. The picture shows his iron-fisted response to the Singapore Airlines pilot strike in the 1980s.

This involves another piece of advice from Lee Kuan Yew: Facing such a complex political environment in Hong Kong, what type of person should the chief executive be? Political turmoil broke out in Hong Kong in 2003. Two years later, Uncle Tung resigned due to health problems and was replaced by Donald Tsang. That year, Lee Kuan Yew visited Hong Kong and gave a speech at a business luncheon. He frankly admitted that Hong Kong needed a “street warrior” as chief executive to avoid this. Conflict and opposition in society.

Lee Kuan Yew said that Tung Chee Hwa was a good gentleman and not a “street warrior”. As for Donald Tsang, he may learn some skills, but he may not want to be a “street fighter”.

My interpretation of Lee Kuan Yew’s meaning is that Hong Kong’s problems are complex. The chief executive cannot be just an administrator, but must be proficient in “political struggle.” In that case, he must have a political strategy and even know how to beat a bad guy. He cannot be too gentle and kind. Facts have proven that overly tolerant policies contributed to the growth of the radical wave, which eventually became unstoppable.

Friends in the political circle said that Lee Kuan Yew’s third reminder was for the people of Hong Kong. At the end of 2000, he came to Hong Kong to attend a luncheon of the Singapore Chamber of Commerce. He spoke eloquently and profoundly, saying that Hong Kong people should fight for their rights and interests within the framework of the Chinese Constitution and the Basic Law, and there was no need to challenge Beijing politically. If the people of Hong Kong can convince central leaders of this, the political system can make progress.

He also said on the same occasion that Hong Kong people should not try to influence China’s political development, and that the current “rules of the game” have changed, and they should reduce political ties with the United States to avoid questioning their motives.

Five years later, Lee Kuan Yew once again gave Hong Kong people a warning, saying not to try to become the “Trojan Horse” in the “Trojan Horse Massacre” and think that it can change the system in mainland China. Beijing will never allow it.

Lee Kuan Yew’s sincere reminders to Hong Kong people are all words of wisdom. If everyone had understood the profound meaning at that time and acted accordingly, Hong Kong might have been in a different situation. It is a pity that the radical wave has caused many people to become crazy-minded and even fall into irrational madness. They are unable to listen to the good advice and have taken the wrong path, causing Hong Kong to pay a heavy price.

2023-10-09 11:53:05
#Legal #experts #break #Britains #debt #crisis #urge #Hong #Kong #people #enter #bad #environment

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