[Politics] Liz Truss **RESIGNS 20/10/2022**

[rippleman]

At a time when the BoE has put interest rates up to a 14 year high, Truss wants to borrow billions. How's that going to work?

I only did economics to 'O' level, and it was a bloody long time ago, but I think I can work it out.

 

[rippleman]

Not to mention that many ministers seem to walk straight from their political careers into ludicrously highly-paid 'consultancy' roles. Often with companies they'll have worked with while in power. Strange that.

Former employee of Shell refuses to impose a windfall tax on energy companies. Hmmm

 

[Iggle Piggle]

45% tax rate scrapped. Just what everyone was crying out for. Giving 5% extra in pay to footballers on 50k a week.

 

[Titanic]

The biggest tax cutting 'event' since 1972.

"Brilliant or bonkers. Only time will tell."

 

[B-right-on]

On the one hand you say you haven't seen a news programme for years and you admit that you were misinformed about Keir Starmer's origins. Where did your 'information' come from? And then you say you were against Corbyn - but based on what?

I've often thought that people shouldn't be allowed to vote unless they pass some test of basic understanding of the issues. Brexit strengthened that conviction and nothing you have written would change my mind.

Sounds like a great idea. Maybe we should put you in charge of who can and who can't vote? In fact why not just dispense with that and get rid of voting altogether and just have you and your mates just pick whats best for us 'mere mortals' who are not up to your exhaled status of knowledge in all things. Based on your daily subscription to The Sun, The Guardian or whatever slanted journo shit you read.

Believe it or not, it is possible to get information from sources other than tabloids or the 10 mins slot every few hours that starts with a bit of music. Shocking fact.

As for KS roots, as I said, I can't remember and very happy to be corrected on my misinformation. If it's wrong, it's wrong and I'm happy to be corrected.

 

[WATFORD zero]

The biggest tax cutting 'event' since 1972.

"Brilliant or bonkers. Only time will tell."

Well I've had 3 minutes - batshit bonkers

Toute nation a le gouvernement qu'elle mérite.

 

[Pavilionaire]

It's like the last 12 years of Tory-led government haven't happened.

It is simply STAGGERING that they are reversing policies they - Truss and Kwarteng - have supported for the last decade. Not a Budget, yet more impact measures than any previous Tory Budget I can remember since Labour fell out of power.

And this undoes stuff that is happening now, or due to come in April 2023 that people and business have already budgeted for.

Some unheralded but huge stuff tucked in there too, i.e. repealing IR35 rules introduced in 2017 and 2021, scrapping the Office of Tax Simplification. Yet no mention of scrapping the ridiculous Making Tax Digital for Income Tax due to come in April 2024 that will shove unnecessary cost and bureaucracy on anyone earning untaxed gross income exceeding £10,000 p.a.

Probably the best "Budget" for the rich for decades. A 5% tax cut just for them, lower NI, lower CT, lower dividend tax, no cap on banker's bonus, regional low tax zones created .

 

[Is it PotG?]

Toute nation a le gouvernement qu'elle mérite.

Bonnet de douche my son, bonnet de douche.

 

[Iggle Piggle]

It's like the last 12 years of Tory-led government haven't happened.

It is simply STAGGERING that they are reversing policies they - Truss and Kwarteng - have supported for the last decade. Not a Budget, yet more impact measures than any previous Tory Budget I can remember since Labour fell out of power.

And this undoes stuff that is happening now, or due to come in April 2023 that people and business have already budgeted for.

Some unheralded but huge stuff tucked in there too, i.e. repealing IR35 rules introduced in 2017 and 2021, scrapping the Office of Tax Simplification. Yet no mention of scrapping the ridiculous Making Tax Digital for Income Tax due to come in April 2024 that will shove unnecessary cost and bureaucracy on anyone earning untaxed gross income exceeding £10,000 p.a.

Probably the best "Budget" for the rich for decades. A 5% tax cut just for them, lower NI, lower CT, lower dividend tax, no cap on banker's bonus, regional low tax zones created .

I'm staggered by IR35. Making people who work pay tax is hardly controlversial.

 

[rogersix]

It's like the last 12 years of Tory-led government haven't happened.

It is simply STAGGERING that they are reversing policies they - Truss and Kwarteng - have supported for the last decade. Not a Budget, yet more impact measures than any previous Tory Budget I can remember since Labour fell out of power.

And this undoes stuff that is happening now, or due to come in April 2023 that people and business have already budgeted for.

Some unheralded but huge stuff tucked in there too, i.e. repealing IR35 rules introduced in 2017 and 2021, scrapping the Office of Tax Simplification. Yet no mention of scrapping the ridiculous Making Tax Digital for Income Tax due to come in April 2024 that will shove unnecessary cost and bureaucracy on anyone earning untaxed gross income exceeding £10,000 p.a.

Probably the best "Budget" for the rich for decades. A 5% tax cut just for them, lower NI, lower CT, lower dividend tax, no cap on banker's bonus, regional low tax zones created .

job's a good'un

did anyone expect anything else?

 

[WATFORD zero]

And I see that the Treasury has refused to publish the Office for Budget Responsibility’s (OBR) analysis of exactly what this mini budget will mean.

I can't imagine why

In the absence of the OBR report, the Institute for Fiscal Studies (IFS) has done its own assessment – and it forecasts the proposals will reduce tax revenue by £30bn a year, increase borrowing by about double that, and leave an £18bn gap in public spending from previously announced figures.

 

[Pavilionaire]

I'm staggered by IR35. Making people who work pay tax is hardly controlversial.

IR35 has been around for 23 years now. Repealing 2017 and 2021 laws means potentially taking people back out of PAYE and returning to that murky world of employment disguised as self-employment. The Office of Tax Simplification have suggested measures to harmonise tax rates of employment and self-employment, they haven't been implemented, that body is being scrapped and the uncertainty is now even greater.

 

[ConfusedGloryHunter]

Looks like the strategy is to line their pockets as much as they can in the next 2 years. I am shocked, this isn't why the nation voted for Liz!

Oh wait...

 

[deletebeepbeepbeep]

Is this all because the Tories know they are likely to lose the next election, but these proposals might give them a chance by bringing all the wealthy people in the shires back on board - and even in they lose if will mean Labour have to introduce more taxation to help pay for crippled public services when and if they do get back in power?

 

[Springal]

45% tax rate scrapped. Just what everyone was crying out for. Giving 5% extra in pay to footballers on 50k a week.

Yep and the NI cut alone put about £200k back in the top PL earners pockets alone.

Ferrari salesmen of the land rejoice

 

[cheshunt seagull]

If I’d taken a £10k business case to my Senior Leadership Team with such a pie in the sky projection for income over coming years and with absolutely no plan or evidence base to support it I would have been laughed out of the room.

 

[Pavilionaire]

Is this all because the Tories know they are likely to lose the next election, but these proposals might give them a chance by bringing all the wealthy people in the shires back on board - and even in they lose if will mean Labour have to introduce more taxation to help pay for crippled public services when and if they do get back in power?

Since 1979 - 2024 the governing parties will have been in power for 18, 13 and 14 year periods respectively. Therefore, the risk is if you lose a General Election you could be out of power for a long time, and I can't see the Tories giving up on the 2024 GE yet when they are only 9.7% behind Labour (according to Sky this morning).

 

[The Clamp]

Tax relief and higher bonuses for the wealthy. All Trussed up to try and kid the poor they are being looked after.

Looks like the Tory’s have got their wish of the U.K. being a haven for the wealthy. Hopefully the poor will just die or something?

 

[jcdenton08]

Let's be honest, the last election was about Brexit and the false promises made persuaded large amounts to vote for a party that promised it would deliver rather than one that appeared to be on the fence.

Elections aren't won by Tory members or Tory supporters just as the Labour members and Labour supporters won't win it. It's down to the voters in the middle who can and do change their minds. It's that middle sector that either party needs to win over. So no, there aren't 14m people sitting in their mansions. However, surely you can admit that tendency of the Tories is to support the rich in the first instance. Look at the pandemic and how Tory friends were able to jump the queue. Look at the recent energy measures, borrow and get you, me and future generations to pay it back rather than use some of the excess profit that energy companies are making. This borrowing is going straight into the profit column of the energy generators (one of which Truss used to work for).

Oh, I absolutely agree - on all counts.

My point was that you don’t win hearts and minds by ridiculing their decisions. The more zealous a cause is, the more I am turned off. Dismissing every Tory voter as “scum” is not exactly going to make them support your cause.

As I say, anyone but the Tories next time out.

 

[deletebeepbeepbeep]

Tax relief and higher bonuses for the wealthy. All Trussed up to try and kid the poor they are being looked after.

Looks like the Tory’s have got their wish of the U.K. being a haven for the wealthy. Hopefully the poor will just die or something?

They will be swimming in money with the fantasy trickle down effect!!!!