New Tory Leader

[Yellow Fever 3,783]

Seems like the markets don't like it. GBP down to 1.11 already. Luckily I have USD!

Gone by Christmas ?

 

[keelansgrandad 6,679]

Could somebody explain what Tories stand for nowadays? I understand they are flip flopping with policies but their new doctrine puzzles me.

They tell us we should not be reliant on the state.

So why are they borrowing at record levels to give tax cuts?

Why by allowing bankers to take bigger bonuses will the economy be better off.

Why mention benefits and people not deserving of them when there are adequate rules in place already to prevent this happening?

How is Fracking a renewable energy?

Considering there is a housing boom at the moment, why cut stamp duty?

Why cut the top rate of income tax of 45%?

Why not take more people out of taxation? Why not reduce VAT so that the poorer who pay more VAT than anyone else get some relief? Why not raise the personal allowance?

Why stop prattling on about investment when the lower income earners are struggling to pay bills let alone have any spare money for investment? And do you have proof that the money you are handing back to the wealthy will be invested in this country?

 

[horsefly 4,300]

2 minutes ago, keelansgrandad said:

Could somebody explain what Tories stand for nowadays? I understand they are flip flopping with policies but their new doctrine puzzles me.

They tell us we should not be reliant on the state.

So why are they borrowing at record levels to give tax cuts?

Why by allowing bankers to take bigger bonuses will the economy be better off.

Why mention benefits and people not deserving of them when there are adequate rules in place already to prevent this happening?

How is Fracking a renewable energy?

Considering there is a housing boom at the moment, why cut stamp duty?

Why cut the top rate of income tax of 45%?

Why not take more people out of taxation? Why not reduce VAT so that the poorer who pay more VAT than anyone else get some relief? Why not raise the personal allowance?

Why stop prattling on about investment when the lower income earners are struggling to pay bills let alone have any spare money for investment? And do you have proof that the money you are handing back to the wealthy will be invested in this country?

 

Simple! because they're immoral cu*nts!

[KiwiScot 1,443]

40 minutes ago, keelansgrandad said:

Could somebody explain what Tories stand for nowadays? I understand they are flip flopping with policies but their new doctrine puzzles me.

They tell us we should not be reliant on the state.

So why are they borrowing at record levels to give tax cuts?

Why by allowing bankers to take bigger bonuses will the economy be better off.

Why mention benefits and people not deserving of them when there are adequate rules in place already to prevent this happening?

How is Fracking a renewable energy?

Considering there is a housing boom at the moment, why cut stamp duty?

Why cut the top rate of income tax of 45%?

Why not take more people out of taxation? Why not reduce VAT so that the poorer who pay more VAT than anyone else get some relief? Why not raise the personal allowance?

Why stop prattling on about investment when the lower income earners are struggling to pay bills let alone have any spare money for investment? And do you have proof that the money you are handing back to the wealthy will be invested in this country?

 

Tories have had lengthened internal battles since the argument for, the campaigning for, execution of and aftermath of the brexit referendum. Given the extreme global problems that have been cropping up they've been not so much thinking on the run, but thinking while a fugitive. They can't settle and we're getting bad policies. Whoever wins the next election needs to attempt stability otherwise we are all screwed(Starts now for yous Tories). I'd actuall say at the moment the best result for the next referendum is the Lib Dems getting a coalition to act as temperance to who gets the most seats as I don't see Labour without the internal problems which will cause difficulty. I just see lots of unstability.

Short term. Truss has done nothing. Not cancelled Boris's support packages and raised energy bills with only a 6month relief for businesses and a 1p tax cut in 7 months time. Not even a few bribe for us to show they care or a wage rise for someone.

Edit(Oh thank kind sire for you for the cut in NI in 2 months time).

 

Edited September 23, 2022 by KiwiScot

[TheGunnShow 5,940]

21 hours ago, Well b back said:

They really have lost the plot. If Russia were paying people to vote yes to fracking we would be condemning them.

https://www.bbc.co.uk/news/uk-politics-62993487

It reminds of that quiz on Radio 5 Live where the 2 finalists have to defend the indefensible.

As a Tory voter I have to scream ‘ Tories Out Now ‘.

Yep. Same boat here. Essentially, there's a good time for free-market economics, but this time is not it.

[Yellow Fever 3,783]

I think if you have USD it's going to be buy one Tory/Brexiteer get one free time.

'Markets' in meltdown

[Well b back 3,203]

So the budget is done the feedback so far

1. The pound has crashed to a 37 year old low

2. The FTSE has crashed

3. we are almost certainly now in recession

Edited September 23, 2022 by Well b back

[Creative Midfielder 1,996]

17 hours ago, ricardo said:

If theyve already decided its uneconomic then there won't  be any fracking. Private companies don't chuck money away on lost causes.

Lets wait and see what happens.

That's true and was also one of Cornelius' observations - except who's to say whether the idiot Truss isn't daft enough to throw even more taxpayers' billions to subsidise fracking in the same way as she is subsiding the current North Sea oil & gas companies.

[Yellow Fever 3,783]

22 minutes ago, Yellow Fever said:

I think if you have USD it's going to be buy one Tory/Brexiteer get one free time.

'Markets' in meltdown

Gosh - If Kwarteng was an airline pilot looking at the GBP/USD decent (approaching 1.10) the stick would be shaking, the ground alert going off and the computers shouting 'Pull Up, Pull up'.

The good news is they can only crash once.

[horsefly 4,300]

Well, that guarantees a return of Labour to all the northern seats. In a few weeks we've gone from a "levelling up" agenda to a policy of "shi*tting on you from a great height". 

[Van wink 2,994]

Massive gamble with our economy, if it works she will get credit, if it crashes and burns the new Labour Govt will be left with a massive financial hole.

[horsefly 4,300]

Loathsome Leadsome just turned up on the BBC. Anyone know of a way to repair a broken TV screen?

[keelansgrandad 6,679]

 

[horsefly 4,300]

So, the government is borrowing money to fund £45bn in tax cuts. The institutions from which we are borrowing that money have so little confidence in that policy that the pound has plummeted to $1.10. Fiscal irresponsibility par excellence.

[Rock The Boat 1,332]

21 hours ago, Herman said:

Stop blaming everybody else for the problems you and your shoddy government have done. Blair, is not without a lot of faults, but he left the country in reasonably healthy and upbeat state. The tories and the libdems started the austerity ball rolling leading to catastrophic cuts and weakening of every piece of state infrastructure. The lead to the disaster of brexit and covid/putin highlighting the massive flaws in tory austerity/cutting policies.

Perhaps comprehension is not one of your greater skills as I have criticized theTory governments since Cameron until now, as they all fall within the past twenty five years. They all printed and spent money they didn't have and there was always going to be a day of reckoning. That day is now upon us. 

[Rock The Boat 1,332]

2 hours ago, Well b back said:

@horsefly

A doctor told me yesterday, what difference will the 2 week bit make for non emergencies as if it is a hospital referral it will still be a 2 year wait for your hospital appointment making a couple of extra days irrelevant. Most doctors are doing rapid telephone consultations and if they feel needed they ask you to come in for further investigations often within 24 hours.

I remember the good old days when doctors used to visit you at home if you were sick. Mind you, in the old days doctors were not cutting breasts off of impressionable teenage girls. 

[keelansgrandad 6,679]

1 minute ago, Rock The Boat said:

I remember the good old days when doctors used to visit you at home if you were sick. Mind you, in the old days doctors were not cutting breasts off of impressionable teenage girls. 

I hope GPs are not doing it nowadays either

[Rock The Boat 1,332]

3 minutes ago, keelansgrandad said:

I hope GPs are not doing it nowadays either

The figure for breast removals for teenage girls is now in the tens of thousands 

[Well b back 3,203]

FTSE just gone below 7,000

[Rock The Boat 1,332]

Well what a sense of deja Vue we have today. This is exactly like the tax cutting budgets of the early Thatcher years and the response from the commentariat was exactly the same back then as it is today. Us old uns have been here before. The early eighties did bring a difficult couple of years to turn around a dead in the water economy and we may expect the same for today. So enjoy the next twelve months Lefties because if Truss can reshape the economy the way Thatcher did, the boom times lay in store. Of course, not everyone will will. If you want to carry on in part time work and spend the rest of your days smoking weed and watching Netflix then you're going to miss out on a dynamic economy. But anyone with a bit of savvy is going to do well. 

Truss will face the same howls of rage that Thatcher faced but if she stands strong we can get through this. The alternative is Labour misery. 

Edited September 23, 2022 by Rock The Boat

[A Load of Squit 5,162]

18 minutes ago, Rock The Boat said:

Well what a sense of deja Vue we have today. This is exactly like the tax cutting budgets of the early Thatcher years and the response from the commentariat was exactly the same back then as it is today. Us old uns have been here before. The early eighties did bring a difficult couple of years to turn around a dead in the water economy and we may expect the same for today. So enjoy the next twelve months Lefties because if Truss can reshape the economy the way Thatcher did, the boom times lay in store. Of course, not everyone will will. If you want to carry on in part time work and spend the rest of your days smoking weed and watching Netflix then you're going to miss out on a dynamic economy. But anyone with a bit of savvy is going to do well. 

Truss will face the same howls of rage that Thatcher faced but if she stands strong we can get through this. The alternative is Labour misery. 

And you accuse others of smoking 'weed'?

[Creative Midfielder 1,996]

18 hours ago, Yellow Fever said:

Thats what the article and Caudrilla basically say. There won't be none but very little.

That said, the announcement should of been to allow on-shore wind and fracking.

Quite - given all the total guff he spouted about energy security and reducing energy costs, it is absolute madness not to include on-shore wind which will deliver energy many years quicker than fracking and at a tiny fraction of the cost.

[horsefly 4,300]

1 hour ago, Rock The Boat said:

Well what a sense of deja Vue we have today. This is exactly like the tax cutting budgets of the early Thatcher years and the response from the commentariat was exactly the same back then as it is today. Us old uns have been here before. The early eighties did bring a difficult couple of years to turn around a dead in the water economy and we may expect the same for today. So enjoy the next twelve months Lefties because if Truss can reshape the economy the way Thatcher did, the boom times lay in store. Of course, not everyone will will. If you want to carry on in part time work and spend the rest of your days smoking weed and watching Netflix then you're going to miss out on a dynamic economy. But anyone with a bit of savvy is going to do well. 

Truss will face the same howls of rage that Thatcher faced but if she stands strong we can get through this. The alternative is Labour misery. 

Oh dear! Your sad raddled old mind fails you yet again. Thatcher did not recklessly borrow billions to pay for tax cuts for the wealthy as Truss is doing. Instead, she hiked up VAT from 8% to 15% and retained a top rate of tax at 40%. The only resemblance Truss bears to Thatcher is in her willingness to exploit and persecute the poor. This shameless gambling is causing the pound to plummet while the UK enters recession.

[Herman 9,764]

Have we hit rock bottom yet?

 

[horsefly 4,300]

2 hours ago, Rock The Boat said:

They all printed and spent money they didn't have and there was always going to be a day of reckoning. That day is now upon us. 

And Truss has just borrowed £45bn to pay for tax cuts for the wealthy. Do feel free to predict when her day of reckoning will come for spending money she doesn't have. Your grasp of economics reaches the heights of a 5-year-old.

[horsefly 4,300]

8 minutes ago, Herman said:

Have we hit rock bottom yet?

 

Give it 2 years.

[keelansgrandad 6,679]

2 hours ago, Rock The Boat said:

Well what a sense of deja Vue we have today. This is exactly like the tax cutting budgets of the early Thatcher years and the response from the commentariat was exactly the same back then as it is today. Us old uns have been here before. The early eighties did bring a difficult couple of years to turn around a dead in the water economy and we may expect the same for today. So enjoy the next twelve months Lefties because if Truss can reshape the economy the way Thatcher did, the boom times lay in store. Of course, not everyone will will. If you want to carry on in part time work and spend the rest of your days smoking weed and watching Netflix then you're going to miss out on a dynamic economy. But anyone with a bit of savvy is going to do well. 

Truss will face the same howls of rage that Thatcher faced but if she stands strong we can get through this. The alternative is Labour misery. 

If you aren't on weed then what is it that is making you hallucinate.

[Herman 9,764]

6 minutes ago, horsefly said:

Give it 2 years.

[PurpleCanary 5,558]

4 hours ago, PurpleCanary said:

Re this not-a-budget budget, I am not an economist, but as someone says in Margin Call:

"These numbers don't add up. One and one no longer makes two."

It is a truism (as opposed to a Trussism...) that the first reaction to a budget is usually wrong. Budgets that get initially praised end up being given a good kicking and the supposedly bad ones are reassessed positively. A prediction: that is not going to happen this time. Any reassessment will only be that it is even worse than today's verdict from the markets and the unbiased analysts would have you believe.

[Well b back 3,203]

29 minutes ago, PurpleCanary said:

It is a truism (as opposed to a Trussism...) that the first reaction to a budget is usually wrong. Budgets that get initially praised end up being given a good kicking and the supposedly bad ones are reassessed positively. A prediction: that is not going to happen this time. Any reassessment will only be that it is even worse than today's verdict from the markets and the unbiased analysts would have you believe.

Very concerning Purple. 
You just pray that this potentially mad woman knows something the rest of the world doesn’t. I think she thought, quick tax cuts, give out loads of freebies, have people fawning over her, quick general election, but it seems to have backfired spectacularly.