Didn’t even realise she was the new home sec. Not the brightest star in sky from memory? Doubt she will last.
Westminster Politics
- Thread starter altodevil
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Didn’t even realise she was the new home sec. Not the brightest star in sky from memory? Doubt she will last.
Do you think her targets are realistic given the current shortage of police officers (you’d probably know more about what it’s like currently)?
Similar to George Osbourne policy but on steroids. It was Osbourne who reduced the top rate of tax from 50pc to 45pc.
It is austerity for the poor and borrowing to fund tax cuts for the rich.
https://www.theguardian.com/politic...hy-create-32bn-headache-resolution-foundation
Privatised debt & nationalised wealth preservation.
Income tax is not the only tax though. It fell under Osborne but it was offset by increased taxes on goods and services which meant that net taxation under Tories 2010 to 2015 basically stayed consistent with what it had been under Labour. I agree there was a regressive shift overall but that doesn't mean it's the same as what Kwarteng is doing now.
What Osborne did was maintain tax levels while shrinking public spending in order to shrink the deficit. (Or at least that was the plan, it didn't work)
What Kwarteng is proposing is shrinking taxation, increasing public spending and just letting the deficit balloon indefinitely.
Those two things are categorically different. They may both be regressive but they reach that point in two very different ways.
Tory bitch has got quite a line up tomorrow, I’ll grant her that.
I’ve not seen everything she’s said if I’m honest but the 20% murder reduction is clear headline chasing due to little Olivia I imagine.
It’s an odd crime type to mention for me in terms of targets as murders are usually a result of something else e.g in Olivia’s case organised crime or you may have a domestic related murder. For me you’d go after the root causes but in doing that the government would have to acknowledge not only under funding the police service but other agencies which are equally important within communities in terms of diversion, support and prevention.
Policing numbers are appalling though and it seems most of the public have only really caught on following The Queens death and the cancellation of football.
If you’re a Tory MP elected in or before 2015 your head must be spinning today. In the last seven years you’ve had to argue for compassionate conservatism, austerity, getting rid of green crap, net zero, tackling burning injustices, cutting Universal Credit, industrial strategy…
...abandoning industrial strategy, levelling up, abandoning levelling up, fracking, not fracking, fracking, no more onshore wind farms, lots more wind farms, opposing an energy price cap, supporting an energy price cap, opposing a windfall tax...
… supporting a windfall tax, opposing a higher windfall tax, a smaller state, a bigger state, a smaller state, balanced budgets, huge state spending, fiscal responsibility, massive borrowing, higher taxes, cutting taxes. Do Tory MPs actually believe in anything?
From @michaelujacobs on Twitter
Cannot quote the tweets directly.
...abandoning industrial strategy, levelling up, abandoning levelling up, fracking, not fracking, fracking, no more onshore wind farms, lots more wind farms, opposing an energy price cap, supporting an energy price cap, opposing a windfall tax...
… supporting a windfall tax, opposing a higher windfall tax, a smaller state, a bigger state, a smaller state, balanced budgets, huge state spending, fiscal responsibility, massive borrowing, higher taxes, cutting taxes. Do Tory MPs actually believe in anything?
From @michaelujacobs on Twitter
Cannot quote the tweets directly.
Profit.
This is the actual headline of Kuenssberg's article on the BBC:
Starmer's task is to soothe nerves and grow the economy
https://www.bbc.co.uk/news/uk-politics-63020539
I think most of them spent their schooling in debating clubs playing defend the indefensible.
It's a skill for sure. Most people would crack up laughing half way through. It takes a certain type, I guess.
Maybe someone could document what Liz Truss' & Kwasi Kwateng net worth was in 2019 and let's come back in like 5 years and we'll do a comparison.
Been saying this for a while, if your net worth increases too much, you're sacked
Oh yes, no doubt this is a crazier version. Like I said, on steroids!
By 2015 debt vs GDP was up to 81% after George Osbournes policies. It was 60% in 2010. So the balance was not there under Osbourne.
As I've said, the plans are categorically different. The fact that Osbornes plan didn't work is irrelevant.
It's not me that's not voting Labour its millions of people, many of whom don't know what the international Socialist brethren is,...but they do know that when Labour get into this mode of speaking it makes no difference to their lives. They become like children listening in on adult conversation, but then after a while don't understand and so give up and go and play in the garden...see also @Frosty below
Spot on!
Although, of course, the plans are different. They are from the same ideology. Kwarteng/Truss are just building on ideas that have failed over the last 12 years. Primarily trickle down economics and reducing tax for the richest, with the poorest being worse off.
https://www.theguardian.com/politic...hit-george-osborne-tax-benefit-budget-changes
https://www.independent.co.uk/news/...ffice-for-budget-responsibility-a7620286.html
If you want to boil it all down to the level of saying any policies that makes the rich richer are all just the same, go ahead. Im interested in the detail though, where they are functionally very different.
Just over 3 more cents to go and you've broken the all time record, Liz the idiot.
Parity with the dollar by morning?
Dollar parity, let's go.
Panic 100bps rate hike by the BoE on the cards
Panic 100bps rate hike by the BoE on the cards
Parity with the dollar by morning?
Recovered a bit now to 1.05.
I am actually panicking now. I wanted to leave UK at one point to go back to my home country. But the pound is going to be so bad that I am likely going to be stuck here.
Kwarteng is going to have to resign this morning and make it look like they’re having a re-think or we are in deep shit. I would say it’s mind boggling stupidity but we know full well it isn’t.
This government will be finished already then.
They are going scorched earth and are counting on their useless backbenchers not doing anything as it’s still early days.
I’m an American that actually moved here from New York
Time to put in some feelers and figure out a way back.
The UK has gone to the dogs, and I’m still making less money (even when converted to GBP at 1.3) then I was when I left the US 5 years ago.
Just imagine all these American tourists that will come now and visit.
That would make the country look less of an emerging market if the chancellor resigned the day after his budget. He's just going to have to hope that the impact is quick though in terms of growth.Speculators are clearly going to keep targeting the pound for the foreseeable.
Short term embarrassment beats long term pain. Anything could happen this week. Maybe a whole decade
Speculators are clearly going to keep targeting the pound for the foreseeable.
Fullbrook is the new Cummings.
At least we didn't have chaos under Ed Miliband.
It's absolutely bonkers how far we've fallen that those we look back on at sane times in comparison to this
Up to 1.08 now
Going to be very bumpy I think for the next few weeks.
And I believe there is supposed to be a proper budget with an obr forecast by the end of the year that could be (probably will be) another good opportunity to short the £
For sure time to go back. Brexit, COVID and Tories have f****** the country beyond repair it seems. Only way is down.I’m an American that actually moved here from New York
Time to put in some feelers and figure out a way back.
The UK has gone to the dogs, and I’m still making less money (even when converted to GBP at 1.3) then I was when I left the US 5 years ago.
Especially when you consider that we buy energy on the open markets which are priced at dollars.
Something our wonderful chancellor is probably trying to ignore.