Westminster Politics

We're locked in until December 2024.

All you students will have to get a job. Living in the real world.
 
Berbasbullet said:
"Liz what is your take on anal and the use of lubricant?"
Click to expand...
"I import 50% of my porkings."

"Lady Thatcher used butter and so do I!"

"*Stares aggressively at the microphone and let's put a beefy fart*"

So many options to choose from.
 
MIC_FIN said:
We're locked in until December 2024.

All you students will have to get a job. Living in the real world.
Click to expand...
Code: 
           '\
          '  \    O
        '     \@  |
      '        `\/|
    '           __|    *    *
  '           //| |  (/   )/
'~-~-~-~-~-~""""""""""*""""""*""
~-~-~-~""ejm97""""""")/"""""(/"
 
Pexbo said:
Code: 
           '\
          '  \    O
        '     \@  |
      '        `\/|
    '           __|    *    *
  '           //| |  (/   )/
'~-~-~-~-~-~""""""""""*""""""*""
~-~-~-~""ejm97""""""")/"""""(/"
Click to expand...
Restart your phone, washing machine, hairdryer. Usually fixes most people's problems pal.

Could always wire your mains into next door neighbours. Save a few bob.
 
sun_tzu said:
Can they cut enough?
De-linking pensions from inflation perhaps but that won't make a dent
Defence they have committed to increase spending
Hs2 probably axed but that will be dwarfed by the increase in servicing debts
Education probably too unpopular to touch that
Nhs... political suicide to defund or sell
Welfare will be cut but hard to see how it's cut too much with rising inflation

Genuinley not sure how they would cut to the extent needed... probably 15%?
Click to expand...

If history tells us anything it'll be rolling back spending increases over the last 7 years (spending has increased 5x faster than GDP); but whilst protecting pension, education and health. They'll also be stealth tax increases in the form of freezing tax bands/allowances that effectively reverse their own cuts very quickly but with less embarrassment.

With both major parties in agreement on over £100b of funding commitments at the moment (agreement on fixing energy prices, holding CT rates, 19p IT decrease & reversing NI increase); with also both parties not wanting to decrease spending and in fact talking about several billion of increased spending (infrastructure in Kwarteng's case and energy investment in Starmer's) the simple question is how are we paying for it.

In an environment where debt will be costing substantially more and departments will be requesting even more funding due to inflation; with markets already jittery about our ability to pay debt back and QE off the cards; I can only see large spending cuts along with tax increases on the agenda irrespective of who's in power (both of which will affect growth negatively, requiring more cuts or taxes).
 
Liz Truss seen arriving at Downing Street earlier today
2690.jpg


Driver: "Who's the lunatic in the back with the wild staring eyes who keeps saying: 'My House! My House!' "
Other guy: "Ignore her, she'll be gone soon! Pretend she's not there."
 
MIC_FIN said:
Pidgeon feathers
Click to expand...
It's "pigeon" but, hey, your spelling is getting better because you used actual letters in your reply to me this time instead of a bucket of drool. Well done! I'd give you a gold star sticker if I wasn't worried you'd somehow mistake it for a foreigner and start pointing at your door shouting "Fack off back where you came from!"
 
QE whilst raising interest rates.. feels like they’ve lost control and this is desperation measures

really worrying times..
 
MIC_FIN said:
You can be a student and get a job at the same time. You're contributing. Paying something in. Giving something back.

The fact you find that funny, speaks otherwise.
Click to expand...

Just checking, you’re still pretending you’re not a Tory?
 
Mr Pigeon said:
It's "pigeon" but, hey, your spelling is getting better because you used actual letters in your reply to me this time instead of a bucket of drool. Well done! I'd give you a gold star sticker if I wasn't worried you'd somehow mistake it for a foreigner and start pointing at your door shouting "Fack off back where you came from!"
Click to expand...
You know I'm winding you up, right?

I've had warnings and it's all meant in jest. Satirical, parody nonsense. But I don't mind if you take everything I post seriously. Life is too short mate.

Anyhoo..
 
Jippy said:
It's borne of a bit of a misunderstanding of what was going on. Some pension funds were having to sell some liquid assets, including gilts, to raise cash for margin calls on interest rate swaps that had turned against them cos of rate projections leaping up. It was more a fear that people selling gilts would force the yield up higher, becoming self-fulfilling, so the BoE intervened to buy a load and try to put a lid on yields.
@11101 will be able to explain far better, but you can't have a run on pension funds per se, so the Northern Rock example isn't great, but it sounds like a serious funding crunch was happening and the BoE had to act. These pension funds are multi-billion schemes, so even small percentages for them are colossal amounts of money.
Click to expand...


Cant add much more to that. Pension funds have been buying interest rate swaps (which they shouldn't be allowed to, imo) which are now going against them, and they need to sell assets to meet the collateral payments on those. It's a vicious circle. Normally its a process that takes days or weeks in a 'safe' market like govies but this week it's been happening in hours.
 
Mr Pigeon said:
It's "pigeon" but, hey, your spelling is getting better because you used actual letters in your reply to me this time instead of a bucket of drool. Well done! I'd give you a gold star sticker if I wasn't worried you'd somehow mistake it for a foreigner and start pointing at your door shouting "Fack off back where you came from!"
Click to expand...
:D
 
You must log in or register to reply here.