Autumn statement

[turnbull for england]

Indeed , I mean there is no possibility that people can have different views on one thing and still get along on a million others is there .

[tommy toes]

Nothing wrong with trying to get on with Tories.
Both my siblings are.

[tyke1962]

Nothing wrong with trying to get on with Tories.
Both my siblings are.

Are your siblings in the shadow cabinet ?

[ncRover]

The problem with Truss's economic ideas wasn't that they were the right ideas at the wrong time.

They were absolute batshit at any time. The far right had an obsessive belief that if you cut the taxes of the wealthy, they work twice as hard and we all get richer. Trouble is there is precisely zero evidence that is true.

What Truss and Kwarteng did was to ash taxes for the wealthy and borrow an astronomical amount to do so. The markets said they didn't believe that the policy would grow the economy, which means tax intake would stagnate, which means Trussonomics meant permanently borrowing to subsidise the richest few percent in society.

The bond markets said "Fine if you want to borrow to do that, but we'll double your interest rate be ause we think you'll bankrupt the country and this is our risk premium."

It was the economics of the madhouse. The one positive thing to come out if it is that the IEA and Adam Smith Institute who pushed for it  should hopefully never get close to No10 again.

“Far right” is a stretch there BST, come on. It’s just a different approach to economics not the National Front.

[BillyStubbsTears]

They are at the extreme right of the spectrum of conventional economics. The libertarian right that things taxation is theft and Govt should let the rich get on with making money.

[ncRover]

They are at the extreme right of the spectrum of conventional economics. The libertarian right that things taxation is theft and Govt should let the rich get on with making money.

They didn’t say that taxation is theft. Far-right economics would be abolishing the NHS for example.

And “Far-right” to a lot of people means racist nationalism that’s what I meant.

[BillyStubbsTears]

The Adam Smith Institute and the IEA and the Tax Payers Alliance absolutely believe that tax should be screwed down to the bare minimum because it is morally wrong for the state to do jobs that the private sector could.

Given the chance, of course those people would abolish the NHS.

Kwarteng's Budget was a big step in their direction. Because it 100% embraced their first principle. The Laffer Curve crap that if you cut taxes for the wealthy, you end up with more tax receipts. It's absolute claptrap, but it's an article of faith in far right economics.

What you choose to read by "far right" is up to you. You're talking about social policy. I'm talking about economic policy. In economic terms, the Kwarteng/Tufton Street axis is unquestionably far right.

[BillyStubbsTears]

By the way Nc. Since you brought up the abolition of the NHS as an example of far right economics, look at what the Adam Smith Institute itself says. Final bullet point here.
https://www.adamsmith.org/competitive-healthcare

[BillyStubbsTears]

Or what the head of social policy at the IEA says.
https://iea.org.uk/media/uk-health-outcomes-would-be-better-without-the-nhs-finds-new-paper/

[big fat yorkshire pudding]

At least Jonathan ashworth was clear....

https://twitter.com/BBCPolitics/status/1594282200387682305?t=aNrfRrp5N6WAsbDLgNME8A&s=19

[tyke1962]

At least Jonathan ashworth was clear....

https://twitter.com/BBCPolitics/status/1594282200387682305?t=aNrfRrp5N6WAsbDLgNME8A&s=19

He doesn't have to write the budgets for 2026 and 2027 because the Tories have already cunningly written them for him .

I say cunningly written because the Tories know they control the mandate and are always in power if not necessarily in office .

It doesn't have to be that way but the centre and right of the Labour Party choose to be .

[ravenrover]

As Chris Mason said when he interviewed Hunt with the silent C, you've laid a few time bombs down the line

[BillyStubbsTears]

At least Jonathan ashworth was clear....

https://twitter.com/BBCPolitics/status/1594282200387682305?t=aNrfRrp5N6WAsbDLgNME8A&s=19

Have you ever heard of an Opposition setting out Budgets and economic plans 4-5 years in advance?

Do you think in 1977 that Margaret Thatcher came out and said "In 1981 we will cut Govt spending in the teeth of the worst recession since the war, we'll have 15% interest rates and 3 million will be on the dole"?

Because that's what the outcome was.

[ncRover]

Or what the head of social policy at the IEA says.
https://iea.org.uk/media/uk-health-outcomes-would-be-better-without-the-nhs-finds-new-paper/

This is like saying Jeremy Corbyn is responsible for every opinion that Momentum has? The IEA weren’t in charge of the country