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April 28 2024 9.53pm

New prime minister

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View nead1's Profile nead1 Flag 28 Sep 22 7.11pm Send a Private Message to nead1 Add nead1 as a friend

Really - "is it as bad as the moaners are saying; no it is not"

That's certainly not my view. the Bank of England having to intervene to essentially prop up pension funds that are on the risk of default. £5bn a day for 13 days to try and stabilise things!

Not only was the whole "fiscal event" incredibly ill judged but on a philosophical level, why should we be borrowing to fund tax cuts for highly paid people? Equally, the whole package set the Govt on a collision course with the Bank of England - one trying to control inflation and the other stoking it up. No wonder there was no Office of Budget Responsibility analysis undertaken.

The Govt "strategy" if you can call it that, is, of course the dream of the Brexit idealogues; low tax, de-regulate and create the Singapore on Thames so many of them endlessly talk about. Small wonder that John Redwood was sent out to defend it!

 

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View cryrst's Profile cryrst Flag The garden of England 28 Sep 22 7.38pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by nead1

Really - "is it as bad as the moaners are saying; no it is not"

That's certainly not my view. the Bank of England having to intervene to essentially prop up pension funds that are on the risk of default. £5bn a day for 13 days to try and stabilise things!

Not only was the whole "fiscal event" incredibly ill judged but on a philosophical level, why should we be borrowing to fund tax cuts for highly paid people? Equally, the whole package set the Govt on a collision course with the Bank of England - one trying to control inflation and the other stoking it up. No wonder there was no Office of Budget Responsibility analysis undertaken.

The Govt "strategy" if you can call it that, is, of course the dream of the Brexit idealogues; low tax, de-regulate and create the Singapore on Thames so many of them endlessly talk about. Small wonder that John Redwood was sent out to defend it!

I honestly thought this benefited all workers who pay tax and NI.
Is that not the case? If it’s the case then the fact the rich get more is just maths surely? I read somewhere that the high band tax take at 40% was more pro rata than at 45% since it’s inception. Again I could be mistaken.

 

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View steeleye20's Profile steeleye20 Flag Croydon 29 Sep 22 11.22am Send a Private Message to steeleye20 Add steeleye20 as a friend

'Truss and Treasury secretary fail to reassure markets as bond yields rise, stock market tumbles and pound slides'.

What economic growth can actually result from handing the rich a tax-break, something so miniscule it cannot be measured.

This whole disaster is actually bad for growth, a long recession is now forecast all this pain for families and businesses was totally avoidable.

It is not as if the actually had a forecast or any figures to show us, because they were not in control from day one and haven't got a clue what they are doing.


 

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View Hrolf The Ganger's Profile Hrolf The Ganger Flag 29 Sep 22 12.39pm Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

Originally posted by steeleye20

'Truss and Treasury secretary fail to reassure markets as bond yields rise, stock market tumbles and pound slides'.

What economic growth can actually result from handing the rich a tax-break, something so miniscule it cannot be measured.

This whole disaster is actually bad for growth, a long recession is now forecast all this pain for families and businesses was totally avoidable.

It is not as if the actually had a forecast or any figures to show us, because they were not in control from day one and haven't got a clue what they are doing.


What amuses me is how the opposition and other interested parties who stand to benefit from the current situation are making the problem worse by being negative and spreading doom and gloom.

Keir Starmer cares not one hoot for the common man. His only interest is political gain.

I have just lost 8k on an investment hub, wiping out half of a decade of gain. Even property value seems under threat now. Most people will suffer from the current economic climate to a greater or lesser extent, and maybe, just maybe, the Lefty media, the opposition and idiot Tory back benchers should have thought about the consequences of ousting Johnson and his cabinet during a period of upheaval.

Did it serve anyone or anything except their careers and their blinkered ideology?

 

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View cryrst's Profile cryrst Flag The garden of England 29 Sep 22 1.09pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by steeleye20

'Truss and Treasury secretary fail to reassure markets as bond yields rise, stock market tumbles and pound slides'.

What economic growth can actually result from handing the rich a tax-break, something so miniscule it cannot be measured.

This whole disaster is actually bad for growth, a long recession is now forecast all this pain for families and businesses was totally avoidable.

It is not as if the actually had a forecast or any figures to show us, because they were not in control from day one and haven't got a clue what they are doing.


Apart from energy prices, we are in the same boat than a lot of the world. this isnt just a UK problem.

 

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View steeleye20's Profile steeleye20 Flag Croydon 29 Sep 22 1.51pm Send a Private Message to steeleye20 Add steeleye20 as a friend

Originally posted by cryrst

Apart from energy prices, we are in the same boat than a lot of the world. this isnt just a UK problem.

The rest of the world has not had a Truss mini-budget.

And there is no gain, only pain.

 

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View The Dolphin's Profile The Dolphin Flag 29 Sep 22 2.26pm Send a Private Message to The Dolphin Add The Dolphin as a friend

Anyone care to mention the £ is close to $1.1 - thought not.
Still low but rising for now!

 

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View Henry of Peckham's Profile Henry of Peckham Flag Eton Mess 29 Sep 22 7.17pm Send a Private Message to Henry of Peckham Add Henry of Peckham as a friend

How long have these clowns got before we can get rid of them? The Tories will probably struggle for decades if they don't turn their ship.

 


Denial is not just a river in Egypt

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View Bert the Head's Profile Bert the Head Flag Epsom 29 Sep 22 7.53pm Send a Private Message to Bert the Head Add Bert the Head as a friend

Originally posted by cryrst

Apart from energy prices, we are in the same boat than a lot of the world. this isnt just a UK problem.

Everyone knows the run on the pound and the intervention of the BofE is a result of the mini budget other than the delusional.

 

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View steeleye20's Profile steeleye20 Flag Croydon 29 Sep 22 7.59pm Send a Private Message to steeleye20 Add steeleye20 as a friend

'Claiming that cutting taxes on the richest individuals and largest companies will lead to a surge in economic growth betrays a wilful naivety'.

Labour building massive lead in the polls, one has 33 points lead.

 

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View dreamwaverider's Profile dreamwaverider Flag London 29 Sep 22 8.18pm Send a Private Message to dreamwaverider Add dreamwaverider as a friend

Originally posted by Henry of Peckham

How long have these clowns got before we can get rid of them? The Tories will probably struggle for decades if they don't turn their ship.

If things get much worse, when you ring the ground to ask what time kick off is, they will say ‘What time can you make it for sir. ‘

 

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View cryrst's Profile cryrst Flag The garden of England 29 Sep 22 8.48pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by steeleye20

'Claiming that cutting taxes on the richest individuals and largest companies will lead to a surge in economic growth betrays a wilful naivety'.

Labour building massive lead in the polls, one has 33 points lead.

Yup I hope they win. I don’t recall a time when they got into power and the bank account was empty which may be the case. Very interesting if it happens. How long will they blame the tories for when it fails so very badly. Cmon kier do the business and sort this country out. It’s simple as all you need to do is bring down the 40% tax bracket to 35k. I mean earning that much makes you seriously minted.

 

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