truss

[Filo]

The same bankers just given freedom to get unlimited bonuses, they'll eat him alive regardless, there's no sentiment in business.

But he’ll be asking them nicely lol!

[SydneyRover]

Some fumbled to know who she and her squeeze was at a recent event, I guess everyone knows who she is by now ...........

''IMF urges UK to ‘re-evaluate’ tax cuts in attack on fiscal plan''

''London | The International Monetary Fund openly criticised Britain’s new economic strategy on Tuesday (Wednesday AEST), following another slide in bond markets that forced the Bank of England to promise a “significant” response to stabilise the economy.

Pressure piled on Chancellor Kwasi Kwarteng to reassess his policy, which unleashed turmoil in financial markets, as leading economists, investors and executives said rock-bottom investor confidence would recover only if the plan were scrapped''

https://www.afr.com/world/europe/imf-urges-uk-to-re-evaluate-tax-cuts-in-attack-on-fiscal-plan-20220928-p5blj0

rabbit in the headlights

I was going to write vote tory, but is this really tory, really, it's more like online gambling, russian roulette, hoping the war will end and save the economy.

[ravenrover]

Just read that Sir Graham Brady says there is a little known 1922 Conmittee rule that says the new leader can't be challenged for 12 months. God help us

[Glyn_Wigley]

Just read that Sir Graham Brady says there is a little known 1922 Conmittee rule that says the new leader can't be challenged for 12 months. God help us

Backbench revolt against the mini-budget in Parliament it is then! 

[mugnapper]

Just read that Sir Graham Brady says there is a little known 1922 Conmittee rule that says the new leader can't be challenged for 12 months. God help us

Backbench revolt against the mini-budget in Parliament it is then! 

I seem to remember Brady saying that if Johnson had survived his 'No Confidence' vote, the 1922 Committee would change the rules to enable another vote, on receipt of the required number of letters, within the 12 months.

[BillyStubbsTears]

Glyn, from someone as you know leans centre right. They already ARE unelectable and have been for some time. The more I hear out of this labour conference the more likely I am to vote Labour, hope a lot of it does actually make the manifesto

This, labour have largely plonked theirselves in a position the Tories were in, they've clearly moved to the right which I imagine is frustrating for a lot on the left.

Labour will be fairly limited by their own fiscal rules if they seriously want to avoid positions like we are in now. Very difficult for them aswell and they would be well worth making it clear they won't come in and offer huge spending increases etc.

It's like their energy company announcement. It's fairly sensible and doesn't replace private companies but it will take a long time and money to implement.

Labour has had eminently sensible fiscal rules as its policy for 6 years. They were designed by a team of the UK's most eminent macroeconomists under Corbyn. They are absolutely bang on what any party should sign up to.

1) In general, over a business cycle (from one recession to another) income and expenditure (taxes and spending) should balance for current spending (pensions, defence, education, NHS, local councils, etc)

2) That rule can be and should be suspended if and when emergencies arise, requiring short term Govt spending (such as support to the economy in a very bad recession, or COVID lockdown funding).

3) Govt is allowed to borrow to fund capital investment, on the grounds that sensible investment spending pays for itself through both improved productivity, and the multiplier effect.

Put together, that is the most sensible macroeconomic framework any UK party has ever proposed. Odd that people assumed that because Corbyn was a lefty, he couldn't be trusted on the economy.

[Filo]

Just read that Sir Graham Brady says there is a little known 1922 Conmittee rule that says the new leader can't be challenged for 12 months. God help us

A commons no confidence vote it is then, see how many of these Tory bas**rds have got any balls, job or Country?

[BillyStubbsTears]

Dan Hannan.

f**k me sideways, how batshit is this?

https://conservativehome.com/2022/09/28/daniel-hannan-no-the-pound-isnt-crashing-because-of-a-trifling-batch-of-tax-cuts/

Can anyone point me to a prominent Brexit advocate who is even on nodding terms with rationality?

[BillyStubbsTears]

Ok.

One "It's not our fault, it's Starmer" post could be dismissed as a bell end having a panicked whine.

Two, and it's starting to look like a Tory party HQ message.

https://twitter.com/LordAshcroft/status/1575048712921157633?s=20&t=_EquT3zj9d3cX3Hd8_YGJw

[BillyStubbsTears]

https://mobile.twitter.com/Rob_Merrick/status/1575144324769120261

[Filo]

Without the BoE intervention today pension funds would have collapsed, I wonder what our Tory voting pensioners on here have got to say about that?

[ravenrover]

My guess would be "but they didn't"

[BillyStubbsTears]

Where IS Truss by the way?

[Bristol Red Rover]

There is something messed up - although on the button given that the elite and v wealthy rule in this "democracy" - when there is an economic crisis and inflation starts bubbling that people scraping their way month to month to pay for a small/average mortgage get shafted as part of a policy that is to disuade people from spending.

If you're going to disuade people from spending then put up VAT on non essentials. That waythe gov makes much needed income and erm.... dissuades spending. Putting up interest rates is simply a policy choice for making rich richer. When will people get this?

[Bristol Red Rover]

Where IS Truss by the way?

Up the bloody tree.

[big fat yorkshire pudding]

Where IS Truss by the way?

Staying quiet during the other party's conference?

[wilts rover]

Where IS Truss by the way?

Police say they’re becoming increasingly concerned over the whereabouts of a Mrs L. Truss from Norfolk. Last seen driving entire country off a cliff.

https://twitter.com/haveigotnews/status/1575093012400865282

[BillyStubbsTears]

Without the BoE intervention today pension funds would have collapsed, I wonder what our Tory voting pensioners on here have got to say about that?

Has there ever been a more disastrous, self-inflicted Govt economic policy?

https://twitter.com/EdConwaySky/status/1575128310740389889?s=20&t=RkJJDLCDC2QLXumFmVMGOQ

Three weeks into TrussLand and she's just come within hours of destroying the pension fund sector.

[BillyStubbsTears]

Meanwhile, since the hedge funders on the far right of the Tory party appear to have made a killing yesterday shorting British debt, might as well try to make a few Bob out of this shit show.

11/4 that Truss is booted out by the Tory party before the next election.

9/4 and shortening this morning.

Get your bets on.

2/1 and shortening.

Tory MPs are briefing that letters of no confidence in Truss have already started to be submitted to the 1922 Committee.

Don't say I didn't tell you.

7/4 and shortening.

6/4 and shortening.

Get this.

Starmer is 4/6 on to be PM after the next election.

But he's 17/10 against being the next PM.

Here's what is do if I were Starmer.

Table a vote of no confidence in Truss in the House.

Publicly announce that if Tory MPs join with him in bringing down Truss, Labour will support a Sunak-led Govt to get us out of this disaster.

[no eyed deer]

Meanwhile, since the hedge funders on the far right of the Tory party appear to have made a killing yesterday shorting British debt, might as well try to make a few Bob out of this shit show.

11/4 that Truss is booted out by the Tory party before the next election.

9/4 and shortening this morning.

Get your bets on.

2/1 and shortening.

Tory MPs are briefing that letters of no confidence in Truss have already started to be submitted to the 1922 Committee.

Don't say I didn't tell you.

7/4 and shortening.

6/4 and shortening.

Get this.

Starmer is 4/6 on to be PM after the next election.

But he's 17/10 against being the next PM.

Here's what is do if I were Starmer.

Table a vote of no confidence in Truss in the House.

Publicly announce that if Tory MPs join with him in bringing down Truss, Labour will support a Sunak-led Govt to get us out of this disaster.

I think  if Diane Abbott was leader, even she would get in !

[BillyStubbsTears]

Here we go.

https://mobile.twitter.com/christophe_read/status/1574512397162876929

Step 1: Use the inflation crisis to pour money towards the rich, paid for by borrowing.

Step 2: Use the borrowing crisis as a reason not to fund public services to deal with inflation.

Still. They're all the same, eh?

This from the BBC
"The Chief Secretary to the Treasury, Chris Philp, will write to government departments in the coming days about and identifying spending efficiencies and living within the spending review, a Whitehall source has confirmed."

Here it comes. Money poured into the poclet's of the wealthiest 1%. Resulting in spending cuts on schools and hospitals.

Where have all our Tory fans vanished to? Nothing at all to say?

[drfchound]

Without the BoE intervention today pension funds would have collapsed, I wonder what our Tory voting pensioners on here have got to say about that?

Pension funds don’t just apply to retired people Filo.
Who are the Tory voting pensioners by the way, got any names?

[turnbull for england]

I've just left my Dad's, he's 74 , born and bred in pit village , tin bath as a kid worked every day of his life  , nothing extravagant . Bought own council house , tidy car  as that's his hobby . Mums just said it's cool today but holding off putting heating on to keep bills down , followed by my Dad saying " well he not helped today , that Starmer stood up saying what he'd do different rather then working together" . He still thinks Boris was hard done toand he did a good job" under circumstances". It's like a kind of subservience, they are in charge so they must be right. 

[Filo]

Without the BoE intervention today pension funds would have collapsed, I wonder what our Tory voting pensioners on here have got to say about that?

Pension funds don’t just apply to retired people Filo.
Who are the Tory voting pensioners by the way, got any names?

I know, I’m one

[drfchound]

[quote author =Filo link=topic=285964.msg1189470#msg1189470 date=1664392785]

Without the BoE intervention today pension funds would have collapsed, I wonder what our Tory voting pensioners on here have got to say about that?

Pension funds don’t just apply to retired people Filo.
Who are the Tory voting pensioners by the way, got any names?

Quote by Filo.
I know, I’m one
[/quote]




No way did you vote Tory. 

[ncRover]

The IMF didn’t have a problem with the many multiple times more money spent on trying to stop covid and grind the economy to a halt. More so than the £2bn initially lost through tax cuts, why’s that?

[BillyStubbsTears]

The IMF didn’t have a problem with the many multiple times more money spent on trying to stop covid and grind the economy to a halt. More so than the £2bn initially lost through tax cuts, why’s that?

Do you really want to know, or is this just another knee jerk anti-lockdown spasm?

[turnbull for england]

Probably the same reason your can remortgage to reroof the house , but not to go on the piss. Somethings are worth investing in

[wilts rover]

Here we go.

https://mobile.twitter.com/christophe_read/status/1574512397162876929

Step 1: Use the inflation crisis to pour money towards the rich, paid for by borrowing.

Step 2: Use the borrowing crisis as a reason not to fund public services to deal with inflation.

Still. They're all the same, eh?

This from the BBC
"The Chief Secretary to the Treasury, Chris Philp, will write to government departments in the coming days about and identifying spending efficiencies and living within the spending review, a Whitehall source has confirmed."

Here it comes. Money poured into the poclet's of the wealthiest 1%. Resulting in spending cuts on schools and hospitals.

Where have all our Tory fans vanished to? Nothing at all to say?

He was interviewed on Peston and confirmed this. Also refused to confirm if the pension and benefit rate rises Sunak promised would go ahead.

[SydneyRover]

OK everyone, relax it's all been sorted ...... this little gem:

''One No 10 source said there would be no request for a recall, while a Tory MP added: “Everyone needs to stop shitting the bed and just calm down. And hopefully at conference, if not before, Kwasi will set out in a much more considered way how he’ll address some of the issues with the markets.”