The article is quite inaccurate, the ruling class runs scared of precisely nobody. They own the country and they will dispose of its capital as they chose, enjoying their property rights without the ignorant meddling of marginalised outsiders. The Tory party run essentially unopposed and the political preferences of isolated elderly people are shaped largely by the deluge of lies and fantasy which stream constantly at them from the murdoch press.

Tax breaks are awarded to businesses, and tax rises are heaped on workers and the youth who are increasingly impoverished. Failing to adequately tax or regulate all of this "productive activity" results in a windfall of profits for a few who hoard it and stagnate the economy while the demand for basic goods and services dries up and actually-productive sectors wither in favour of extractive rent-seeking "productive activity". The resultant budget deficits lead to crises in basic services, crumbling infrastructure, inability to intervene to keep incomes in line with living costs (even if a political party with the will to do that existed, and could get elected, which it doesn't and can't), and a spiralling budget deficit.