This is as big a political crisis as I can remember, the consequences of which could easily see the break-up of the UK.

Now it's down to Parliament to sort out. I just hope they don't bottle it as they did prior to the 2019 GE when they had the chance to avoid Brexit, but failed to grasp the nettle. At least we don't have Corbyn to deal with now.

Parliament can reject the tax cuts and instruct the government to rethink. If they refuse then they have a vote of no confidence and the 1922 Committee rewrites the rules on how a new PM is chosen and the MPs themselves choose Truss's successor.

If that doesn't happen, we appear to be headed to a coalition at the next GE between Labour, the Liberals and the SNP, who will demand a binding referendum as the cost of their support.

Should that happen, in the current climate even I would vote for independence if I was a Scot.

For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

So, let me get this right; a 1% income tax cut for everyone who pays tax, a reversal of a 1.25% NI raise for everyone who pays NI and a 5% cut in income tax for the
top 1 or 2% of taxpayers is the biggest crisis you can remember!
The issue isn’t hmg or the tax cuts, it’s the left wing media keep going on about it and scaring the s*** out of everyone. Many many people are happy to receive the benefit of the cuts but then want to cane the ones giving it to them. How much less tax will specifically the high rate reduction cost then ? that’s open to anyone with the figure to answer.

Didn’t Starmer say he would never go into coalition with the SNP? Apologies if this is incorrect.
A WE reply on politics that didn’t mention Trump! Party time. Although you did manage to get Brexit in

I doubt the "left wing media", who-ever they are, are read by those who make the markets or internationally.

It's not whether you, or anyone else, will directly benefit from a tax cut, but what the whole package does to the economy. Paying £100 less in tax helps no-one if everything costs twice as much next year.

It's the lack of realism and detail about the funding that's at fault. It's the idea that trickle-down economics, which has been proven not to work in the best of times, will work in the worst. It's the analysis of the many experts that the package will increase problems, rather than solve them. It's the conclusion that the group of people behind this have no idea what they are actually doing.

For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

I don't know is the answer, but any responsible politician will revise their stance in a crisis and declare it to be in the national interest.

I mention Trump when it's relevant. Although his fingers reach many pies, they aren't in this one! Brexit is. Both in the way Parliament behaved in 2019 and the economic damage we have added to that which everyone else is fighting.

Thinking about it, the way the SNP's ambitions could get sidelined might be a grand coalition. Too many unknowns yet. We need to get through the next weeks first

For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

I have been accused of completely missing the point.

My point was NOT to provide a possible explanation for the reasons behind the volatility in the markets but to merely respond to the Labour's "Making the rich richer" mantra by highlighting those measures that have been introduced which will benefit those across the spectrum.

On that note I have to get 'Togged-up' as I am due to travel to meet some Conservative activists for a jolly good chinwag and a hearty lunch. "Ill-informed" they are certainly NOT, nor in general are the 170,000 members from an array of backgrounds and professions and rich in life experiences.

Edited by Willo (30 Sep 2022 9.47am)