This is John Bachelor, conversation with Joseph Sternberg, colleague Wall Street Journal

Editorial Board. He's in London Political Economics, asking the question, has labour the dominant

power in the comments for at least the next five years?

Have they learned the lesson of government spending brings inflation and lots of government spending

brings in lots of inflation.

The rough patch we've had in recovering from the pandemic over here,

Joseph's answer is not encouraging.

In addition, labor is learned about taxes, high taxes.

Here's Joseph to explain the next five years under Sir Sir Germer and the dominant labor government.

More of this later tonight?

Oh, I think that it's hard to argue that that lesson has been learned over here.

I think that the lesson that they think they have learned is that you can spend as much as you want to as long as your taxes are high enough,

which is why the labor government is now talking about winching tax increases on top of what the conservative administration already did after they ousted

trusts. But I'm not confident that this is going to solve the inflation problem over here permanently

because you're going to have government goosing demand at the same time

it's going to be very difficult to have new investment in production or incentives for work.