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Just announced that since the Rwanda announcement the numbers of migrants have increased dramatically, another cunning plan Baldrick.

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The pound slides. Fuel and Energy go up and the Government gets more revenue. Then they can give more tax cuts and then the pound slides again as the world once again takes advantage of the most incompetent Government(s) we have ever had.

I thought the pound was going to fly against the Euro once we had left?

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Rate increase in November ( if we don’t raise before ) predicted that it will need to be 1.75 %.
It seems that borrowing in the pandemic was a tenth ( for the government ) of what it is today and was a ninth just 12 months ago.

Economist ( not RTB I guess ) on tv currently explaining that if the economy does expand all the extra revenue will be used to repay the additional borrowing.

Many stating that the chancellors comments over the weekend simply fueled the downward trend and was totally irresponsible.

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16 hours ago, littleyellowbirdie said:

France and the French act in their own interests as a nation first

But...but....but...they're in the EU? Brexiteers told us such a policy was impossible!

They weren't lying, were they?!

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Rumours that letters of no confidence already being handed to the 1922 committee.

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1 hour ago, duke63 said:

Rumours that letters of no confidence already being handed to the 1922 committee.

I doubt she has many backbenchers on her side at the moment. Apart from slimy little snakes like Francois and his cronies.

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Just for fun...

I wonder if King Charles very first political duty will be to accept the resignation of one Liz Truss ?

Either that or he sacks her in the national interest.

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52 minutes ago, keelansgrandad said:

I doubt she has many backbenchers on her side at the moment. Apart from slimy little snakes like Francois and his cronies.

Agreed, less than a third of her own MPs backed her even in the final round of voting in the leadership ballot and she only got those as a result of an continuous and very unpleasant smear campaign by both her office and the Daily Fail in order to eliminate Penny Mordaunt.

Go back to the first ballot and she was the first choice of only 50 Tory MPs - not much of a base for pushing through the sort of crackpot policies that she's pumping out.

Edited by Creative Midfielder
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38 minutes ago, Badger said:

 

Excellent.... "First, we had austerity... then we had levelling up... then we have trickling down... then we will have pruning"

Quite some understated humour and a sardonic summary of the last 12 years in that clip of a series of pathetic Tory governments.

 

 

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15 minutes ago, sonyc said:

Excellent.... "First, we had austerity... then we had levelling up... then we have trickling down... then we will have pruning"

Quite some understated humour and a sardonic summary of the last 12 years in that clip of a series of pathetic Tory governments.

 

 

I think it's composting next.

Edited by Yellow Fever
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6 hours ago, Yellow Fever said:

It seems the government has begin its final economic Kamikaze - Kami-Kwarteng run.

At least it will be over soon.

'Black' Wednesday  - can't fight the markets all over again - screeching U turn or straight to defenestration?

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. 

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4 minutes ago, Rock The Boat said:

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. 

Or as someone put it, "fiddling while Rome burns"

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6 hours ago, Well b back said:

Just announced that since the Rwanda announcement the numbers of migrants have increased dramatically, another cunning plan Baldrick.

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. 

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2 hours ago, Yellow Fever said:

Just for fun...

I wonder if King Charles very first political duty will be to accept the resignation of one Liz Truss ?

Either that or he sacks her in the national interest.

I chuckled. 

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34 minutes ago, Rock The Boat said:

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. 

This doesn't hold up. Every government tries to make markets do what they want them to. That's basically what fiscal and monetary policy is. Even the decision to have an independent central bank is a political attempt to sway markets to think there will be a check on government excess.

In a market economy, the market is fundamental. Thats kind of the point. 

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29 minutes ago, Rock The Boat said:

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. 

Do you also find it cute that a report from the Home Affairs Committee also think there was a link between the Rwanda announcement and the increase in the number of migrants?

I mean, it's a committee with a majority Conservative membership.

What the heck do they know?

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Letters already going to the 1922 Committee.

That's what happens when you let a demonstrable idiot run the country.

I'm staggered they managed to actually get someone worse than Boris. It would be impressive if the consequences to millions of people weren't so dire.

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4 minutes ago, canarydan23 said:

Letters already going to the 1922 Committee.

That's what happens when you let a demonstrable idiot run the country.

I'm staggered they managed to actually get someone worse than Boris. It would be impressive if the consequences to millions of people weren't so dire.

 

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7 hours ago, sonyc said:

It has to intervene I think.

Money talks but international markets are shouting and screaming. The talk is that we've gone mad. 

Many posters here have been right. Same with Brexit. Getting to see what taking back control means now!

It could be the start of the end for Truss barely two weeks into her premiership. Her authority must be shredded.

 

I think Truss has accidentally proved how OTT the rhetoric regarding how awful Brexit is has been. At no point in the last five years have the markets reacted as extremely negatively to anything to do with Brexit or the pandemic as they have Kwarteng's package. 

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48 minutes ago, Rock The Boat said:

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. 

Its simply a failed policy - that's all.

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8 minutes ago, littleyellowbirdie said:

I think Truss has accidentally proved how OTT the rhetoric regarding how awful Brexit is has been. At no point in the last five years have the markets reacted as extremely negatively to anything to do with Brexit or the pandemic as they have Kwarteng's package. 

Fair point. Brexit has been a slow puncture, only getting worse as time has gone on. Not just yet at the stage where it can be temporarily repaired or even replaced.

Whereas, the Truss/Kwarteng package is what you posted earlier, crash and burn. Or, to stretch my metaphor further, it's a tyre blow out!

They will have to take notice of the markets soon enough rather than keep saying that what the BoE does is nothing to do with them!

Edited by sonyc

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12 minutes ago, littleyellowbirdie said:

I think Truss has accidentally proved how OTT the rhetoric regarding how awful Brexit is has been. At no point in the last five years have the markets reacted as extremely negatively to anything to do with Brexit or the pandemic as they have Kwarteng's package. 

True up to a point. However I think this is a little simplistic. The UK in 2015 was a country with a reputation for paying it's bills, having a respect for international agreements, being an open economy, with a political system which tended to favour stability.

What Brexit has done economically is to restrict options and make it harder for the UK to capitalise on export opportunities that come from a weak pound. 

What it has done politically is far more damaging. It created an almost revolutionary zeal amongst part of the conservative party, and like all revolutions it trended towards purity over compromise in the first few years. That's led to a succession of incompetent leaders, a hostile attitude to foreign partners and an unstable political environment where prime minister's last 18 months and policy changes dramatically at every turn.

Brexit is not the cause, but it is unlikely that this budget in 2015 would have had British bonds trading lower with Italy and the principle cause of that erosion in trust in the British economy is that the previously sober (by the standards of political establishments) attitude of the UKs politics has been undone by the phenomena that is Brexit.

Edited by 1902

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21 minutes ago, 1902 said:

True up to a point. However I think this is a little simplistic. The UK in 2015 was a country with a reputation for paying it's bills, having a respect for international agreements, being an open economy, with a political system which tended to favour stability.

What Brexit has done economically is to restrict options and make it harder for the UK to capitalise on export opportunities that come from a weak pound. 

What it has done politically is far more damaging. It created an almost revolutionary zeal amongst part of the conservative party, and like all revolutions it trended towards purity over compromise in the first few years. That's led to a succession of incompetent leaders, a hostile attitude to foreign partners and an unstable political environment where prime minister's last 18 months and policy changes dramatically at every turn.

Brexit is not the cause, but it is unlikely that this budget in 2015 would have had British bonds trading lower with Italy and the principle cause of that erosion in trust in the British economy is that the previously sober (by the standards of political establishments) attitude of the UKs politics has been undone by the phenomena that is Brexit.

Yes and No 1902.

This is the logical end point of a hard Brexit. Just got to cut benefits now to match and balance budgets.

At is heart it's a balance of payments crisis - simply the markets have lost faith -a vote of no confidence - in the UK.

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4 hours ago, Yellow Fever said:

Just for fun...

I wonder if King Charles very first political duty will be to accept the resignation of one Liz Truss ?

Either that or he sacks her in the national interest.

I know you've posted this as a joke but  in some ways it feels like it could be prophetic! If the stories of 1922 letters can be believed and if markets remain spooked we might have a 4th Tory PM in 3 years. Not even lasting as long as the typical reign of a Watford manager.

Edited by sonyc
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7 minutes ago, sonyc said:

I know you've posted this as a joke but  in some ways it feels like it could be prophetic! If the stories of 1922 letters can be believed and if markets remain spooked we might have a 4th Tory PM in 3 years. Not even lasting as long as the typical reign of a Watford manager.

Her position is already untenable - her flagship policy already branded foolish, inept, naive by the markets. I suspect Sunak has a wry smile and desperately tries not to say 'Told you so'.

Stupid is as stupid does. All 160,000 of them.

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