truss

[tyke1962]

Most astonishing thing of the interview. She's made Gove sound sensible and statesmanlike.

Another one making the point about borrowing to fund tax cuts, he says its not conservative. Rishi said the same. Ken Clarke says the same. The tories are going down the same hole as Labour with an extreme wing unwilling to listen to moderate voices.

Unfortunately the ideologues are in charge, unwilling to listen. Unable to change course.

Shockingly Simon Clarke essentially said this morning that it's all a big gamble they have to take to stand any chance in the next election. Completely irresponsible.

If the BOE hadn't stepped in last week the whole country's pension schemes were gone within an hour .

The BOE had to save this country from its own government .

This kind of thing is supposed to happen in Banana Republic's not a country belong to the G7 .

[River Don]

Most astonishing thing of the interview. She's made Gove sound sensible and statesmanlike.

Another one making the point about borrowing to fund tax cuts, he says its not conservative. Rishi said the same. Ken Clarke says the same. The tories are going down the same hole as Labour with an extreme wing unwilling to listen to moderate voices.

Unfortunately the ideologues are in charge, unwilling to listen. Unable to change course.

Shockingly Simon Clarke essentially said this morning that it's all a big gamble they have to take to stand any chance in the next election. Completely irresponsible.

If the BOE hadn't stepped in last week the whole country's pension schemes were gone within an hour .

The BOE had to save this country from its own government .

This kind of thing is supposed to happen in Banana Republic's not a country belong to the G7 .

Yes it really was a Lehman moment. I don't think it's widely understood just how calamatous it was. Not laying the ground properly doesn't begin to excuse it.

Ken Clarke also said the government was behaving like a South American regime. This isn't the opposition criticising, they are senior tories!

[albie]

The impact of the measures proposed by Truss summarised by the Resolution Foundation;
https://twitter.com/resfoundation/status/1575848238422577153/photo/1

So much for levelling up then!

[River Don]

In the grand scheme of things it's a relatively minor point but when Truss says she failed to lay the groundwork for the budget... She isn't be entirely honest. What they did was sack a senior economic advisor in the civil service because they knew he'd advise against their plans and the squashed the OBR report... Which they are still sitting on. Really it appears they knew what they were up to and are still being opaque about this.

If Tom Scholar had still been in post would this have all happened?... Quite probably but you can bet he'd have had a few things to say about it all.

[River Don]

In another example of this governments deceit... Step forward Kwasi Kamikwasi Kwarteng.

He has told Andrew Bailey, governor of the Bank of England to stop blaming inflation on energy and gas price rises!

Nobody should know better than Kwasi how gas prices have exploded, since he was the minister who had to bail out CF Fertilisers last September when gas prices rocketed.

https://www.theguardian.com/politics/2021/sep/22/why-is-the-uk-bailing-out-us-co2-supplier-cf-industries

This was when Putin launched his economic war against Europe. Not last Feb. But it doesn't suit Kwasi to admit the truth because he has another agenda and wants to blame lazy workers and benefits claimants for the problems the UK faces.

[tyke1962]

Tory MP who talks sense , they do still exist apparently .


https://youtu.be/Cp8JV-hZZSo

[River Don]

Tory MP who talks sense , they do still exist apparently .


https://youtu.be/Cp8JV-hZZSo

The significant quote from that interview is "we are a patriotic party. Our first duty is to the country, not to get re-elected"

[BillyStubbsTears]

This thing about borrowing to fund current expenditure not being acceptable.

It's NOT something that is against Conservative principles. It is against economic principles. ANY Govt that does it, Left, Right, Centre or sky blue pink men from Mars would be wrong and would crash the economy doing it.

I'm not having senior Tories making out that it's somehow a Tory thing to adhere to the basic principles of economics
 

[River Don]

This thing about borrowing to fund current expenditure not being acceptable.

It's NOT something that is against Conservative principles. It is against economic principles. ANY Govt that does it, Left, Right, Centre or sky blue pink men from Mars would be wrong and would crash the economy doing it.

I'm not having senior Tories making out that it's somehow a Tory thing to adhere to the basic principles of economics
 

Yeah, I don't think he was claiming it's exclusively an un-conservative thing. Just that conservatives shouldn't be doing it.

[big fat yorkshire pudding]

Still waiting for her to genuinely justify the 45% tax cut and also waiting for anyone who thinks it makes any sense at all.

[River Don]

Still waiting for her to genuinely justify the 45% tax cut and also waiting for anyone who thinks it makes any sense at all.

She's already passed the buck on that one and laid the responsibility on Kwartengs shoulders.

[BillyStubbsTears]

Tory MP who talks sense , they do still exist apparently .


https://youtu.be/Cp8JV-hZZSo

The terms "Charles Walker" and "taking sense" have never been used in the same sentence. The man is a Kitson. Go look up some of the unhinged batshittery he spewed out during COVID.

And then go back and listen to what he says in this video. No criticisms of the actual policy of giving obscene tax cuts to the richest, paid for by borrowing. He's just complaining that it's been unpopular and will cost them the election. He's a t**t of the first order.

[BillyStubbsTears]

They are really trying to engage with public concerns aren't they?

Jake Berry. Cabinet Minister. Said this today.

People struggling with energy bills need to cut their usage or just go out and get a better paid job.

[tyke1962]

A warm welcome to the Tory Party from the people of Birmingham .

https://youtu.be/BUpDjRqNUTI

[SydneyRover]

Still waiting for her to genuinely justify the 45% tax cut and also waiting for anyone who thinks it makes any sense at all.

There will be answers but as you say none that make any fiscal sense, she will still have supporters in and around the party but only those that think more money in their own pockets justifies what she's doing.

[BillyStubbsTears]

She and Kwarteng and Minford believe in the Laffer Curve myth. That cutting taxes for the rich makes them work harder, earn more and pay more tax. It's absolute b*llocks, always disproved but it's an article of faith among some on the Right.

Osborne claimed it worked when he cut the top rate to 45% in 2011. What actually happened was that city types just deferred salary in 2010/11 so they didn't pay the high rate, then took the money in 11/12 when they paid the lower rate. So in 11/12, there was more top rate tax paid than in 10/11. That was used to "prove" the concept. It's claptrap but it's one of those zombie ideas that keeps coming back because of the Right's philosophy that low taxes are the way forward. And here we are again.

[Bentley Bullet]

The thing is BST, you welcome Starmer.

Sad man.

[BillyStubbsTears]

Starmer and Labour don't do voodoo economics.

I used to think you'd learn one day but if you haven't now, you never will.

[SydneyRover]

NC quote: "I just believe in a smaller state as it has just grown and grown. After covid, people expect it to do everything''

Can you expand on this and tell me what part of 'the state' you want to reduce and by how much?

What do you expect the cuts you propose will achieve?

thanks in advance.

[Filo]

U-Turn incoming!

[normal rules]

Confirmation of u turn in 45p tax cut.
It would have been voted down in the commons anyway.

[Filo]

Confirmation of u turn in 45p tax cut.
It would have been voted down in the commons anyway.

Only the vote wouldn’t have been until the spring

[mugnapper]

Now Kamikwasi, about those Banker’s bonuses........

[SydneyRover]

mismanagement + kamikwasi meets cliff

[wilts rover]

Confirmation of u turn in 45p tax cut.
It would have been voted down in the commons anyway.

A day after Truss was on the telly saying how vital it was to their growth plan! Wonder if he has told her?

[SydneyRover]

I can't see any of the banks rushing put the recently dumped mortgage offers back in the window

[mugnapper]

The Original Daily Express headline for today would suggest that this decision was made very late.
‘No more decline. We must stay the course’
‘Our plan is the right one to deliver growth’.
And then a U turn a matter of hours later.
Very embarrassing.
If you want to see it, it’s on the BBC News ‘Today’s Papers’ section.

[phil old leake]

Pound up against the dollar already. Let’s hope it stays and hopefully gets stronger.  I’m forever the optimist

[SydneyRover]

You must be if you've supported this shower in any of the past 12 years phil

[Redroy]

Pound up against the dollar already. Let’s hope it stays and hopefully gets stronger.  I’m forever the optimist

Aye fingers crossed it does, given our energy supply set up. However the damage is already done. They are going to be absolutely f**ked once the interest rate rises start to bite. Wowzas. f**king clowns masquerading as 'fiscally responsible'.