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Rock The Boat

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Rock The Boat last won the day on December 8 2020

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  1. This is what the IMF had to say about cutting the top rate of tax: A spokesman for the Washington DC-based organisation said Mr Kwarteng's announcement in November would “present an early opportunity for the UK Government to consider ways to provide support that is more targeted and reevaluate the tax measures, especially those that benefit high-income earners”. The tax measure amounts to £2B per year, which is chicken feed for an economy like ours. Compare this to the £41B that the UK gives to Scotland each year and you can see it in context.
  2. Well that was a totally honest post. Being in the other camp, I won't say more as it might sound condescending, but yes, brutally honest.
  3. The problem as I see it Birdie is that coalition agreements are hammered out post election as you quite rightly state. So my response is what did the electorate actual vote for if they don't actually know what they're getting until the men in suits have done their horse trading. Again the point you make about governments not holding to their manifesto promises is well made, but I think I would prefer to at least have a set of promises made before I vote and not after.
  4. Conservatives got into this mess by trying to emulate Labour in the centre ground. Starmer offers nothing new except a continuation of the same old policies that are failing us now
  5. This might come as a bit of a shock to a few posters so if you are of a genteel disposition you better sit down if you're are going to read my hare-brained plan. Anyways, here goes: What you could do is come up with an amazing manifesto of brilliant policies for improving the lives of each and every citizen, while maintaining our national security and creating a sense of fairness and justice with our dealings with the outside world. This manifesto would be so dazzingly brilliant it would secure a huge majority of seats, there would be no need for backroom deals and we would all live happily ever after. Amen.
  6. You've had centre/left governments ever since 1990. Why do you think one more would be any different? And if you don't want to see lunatic fringe grotesques ever again, I suggest you don't support PR because that is exactly what you'll get.
  7. No it isn't really. Interference in the currency markets would be what happened in the Major govt of the 90s where the Treasury spent £3B sterling to keep it in within the ERM, which was basically shadowing the Deutchmark. The markets understood that the rate that Chancellor Lamont was trying to hold sterling at was unsustainable and so traders shorted the pound. The message is Canutian, you cannot hold back the markets. Also, check out the differences between fiscal policy and monetary policy if you want to properly understand economic policy. You might call it partisan, ideological even, but the tax cutting measures just announced have been tried before and succeeded in the 80s and will doubtless succeed again. Further fiscal and monetary changes have been pencilled in for the months ahead - exactly the same strategy as was carried out in the early 80s. This time round we don't have to go through the whole privatisation process so in many ways we are better placed than forty years ago, even though the numbers involved this time round are quite alarming. Oh and one other point. Cutting income tax is not a zero sum game. If the 45% top rate is removed it just means that some very important tax payers get to keep more of what is theirs. It doesn't take one penny away from those on lower incomes. It's not wealth distribution to the rich as some ridiculous commentators have claimed. We live in a country where anyone can work hard and be successful and those who do should be rewarded. Currently, we pay too many people to sit at home and do nothing. It's time for another reset to our culture same we had forty years ago. Friday, we saw the first baby steps towards that goal.
  8. I agree with your comment that it was the arrival of the vaccine that brought down the number of infectious to endemic level (and a tip of the hat to all that were involved in the rapid rollout) but even during the rollout and for a long time after, modelling forecasts were way over eventual outcomes and they were bothered to use out of date data on occasions when it suited the Sage narrative. Ricardo was posting these modelling charts on a regular basis, so the evidence is there of the scaremongering and the desire to reimpose lockdown sanctions, and we now learn in hindsight that social and economic factors were not included in Sage recommendations
  9. I love all you boys on here because the majority of you are secret Tories at heart. But it's a bit like f a r t I n g in public, not the done thing, and so you have to keep it under wraps, just like a good f a r t, in fact. I mean, I must be right because the Tories keep on keeping on getting elected, especially here in Norfolk. And if it is not you then who is it?
  10. I find it cute that you think there is a statistical link between the Rwanda announcement and the increase in the number of migrants. Others have said it might have been due to the good summer weather providing excellent conditions for a Channel crossing, but what the heck do they know.
  11. Black Wednesday occurred because we were foolishly shadowing the Deutschmark and as you know you can't make the markets do what they don't want to do. Fortunately, this time we are unencumbered by such a straight jacket and we can let the markets to their thing while the government focuses on the fundamentals.
  12. The markets are allowed to find their own levels without interference and that's exactly what is happening and how it should be. During Barber Boom we were still disentangling from Bretton Woods and in the 90s we were shadowing the Deutschmark. That was a huge mistake and not one we are making this time around. In any case it is not just sterling falling against the dollar but also the Euro and the Yen. There's no need to get all machi over the exchange rate, but to concentrate on fundamentals in the economy. Which is exactly what Kwasi is doing.
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