The Socialist nightmare is only just beginning and this is how the middle will suffer - Kelvin MacKenzie

There are no sunlit uplands in a Starmer’s world. It’s all resolutely downbeat until, of course the Socialists start searching for fresh ways of taxing the wealth-producing classes. You know them. They want to do a little better than leaving their money in the bank and decide to take a risk.

They have no idea if the price of that stock will go up or down but they have a hunch. Often with shares they go down. I only ever knew one man who got it more right than wrong in that area. And he was an accountant. And a money-making genius at that.

They have no idea if that little one-bedroomed flat will increase in value and if it does it will probably take 15 years to do so and in the mean-time they will have all the worry of the tree falling on the roof (it happened to me) and discover that thanks to a clever piece of wording in the insurance policy I wasn’t covered.

Not to mention the tenants you thought were great. Were assured by agent that they had passed all their references and suddenly they weren’t paying the rent and it took you the best part of a year to get them out. They scarcely paid you a penny.

Starmer wants to give this mob even more protection. I once rented out to a couple and their ‘’brother’’. They turned out to be minicab drivers who, unknown to me, were renting out the house on a twelve-hour basis to other minicab drivers. When I finally got them out it cost me £15,000 to get the place back into a habitable state.

That’s the risk you find with all investments. It’s why the banks make so much money. It’s safe. There are no minicab drivers at the bank. At least I haven’t met them.

That’s why capital gains tax is set at 20%. The tax recognises you are taking a risk. Now the Telegraph is reporting the middle classes are fearful that, in a desperate drive for money, Labour are planning to double CGT to 40% on October 30.

This from PM and a Chancellor who claimed throughout the General Election campaign they see the only salvation for our nation is to grow the economy dramatically. How can you have growth without risk?

And why should people take a risk when they get taxed on any gain in the same way as they are with their salary. Of course, Starmer believes CGT only affects the Tory-voting classes. He would be quite wrong.

I know many people of quite modest means who have put their money into property because they believe that will keep up with inflation better than their pensions. Unless of course you are a train driver or work for the state but that’s for another day.

Now Starmer wants to make that one-bedroomed flat more unattractive through more protection to tenants so owners will are planning to sell up, only to see they have blocked that exit too by doubling the tax.

Starmer claims things will get worse before they get better. One thing that has definitely got worse is his rating which have fallen from +9% to -16% in since July 4.

I absolutely guarantee that number will double to -32% by the Spring. This government already feels unstable, with the only thing keeping it together is their universal dislike of the middle classes but their universal love of their money.

The Socialist nightmare is only just beginning.