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

[Machiavelli]

We are the largest firm of Independent Financial Advisers in Sussex without any external shareholders

Ahh, you work in finance. Can you answer these questions:
-- since the rise of finance in the 1980s, how have growth rates been in the UK?
-- how do these growth rates compare to the previous period leading back to 1945?
-- since the 1980s, what has happened to the wealth of those in each of the deciles in the UK?

 

[Machiavelli]

Given the Governments trajectory for growth, it will get us out the malaise that I am pretty confident

You do realise that the government hasn't even modelled the effect of this 'fiscal event'?
You do realise that the government has deemed this biggest tax cut since 1972 (and that failed spectacularly) a 'fiscal event' such that it doesn't have the scrutiny that a Budget would, and that the OBR could be prevented from scrutinising it as a result of this name change?

 

[Machiavelli]

It’s based on borrowing, a lot, when interest rates are only going one way. This is what a developing country might do in panic, not a long standing stable economy. Your ‘hopefully’ is borrowing some chips you can’t really afford and putting them on red. It’s also the wrong message when low income families are genuinely panicked about getting through the winter that you just chuck a load of money at business and the wealthy in the hope they spend it to stimulate the growth. It’s certainly not stable economics.

Let us not forget we have an inflation problem that the BoE are trying to tackle by raising interest rates to curb borrowing and spending to get inflation under control.

To add, as [MENTION=33374]Audax[/MENTION] has been documenting, the results of the £ plummeting will make the imported goods that make up so much of our economy even more expensive, thereby driving inflation even higher.

 

[Machiavelli]

something that shows is everyone is a bit better off, albeit unbalanced. way some of the commentary is framed, we're all losing money except the top bracket. as the upper tax braket is 150k, also shows distribution of the NI increase, it wasnt the regressive tax everyone claimed.

Keep those comedy one-liners coming. Your employer at the IEA thinks otherwise.

 

[KZNSeagull]

These are Tory MPs. What do ya think Fozzie

“Either it will be a stroke of genius that saves the country, or it will blow up the economy,” said one MP. Another stated: “There’s a 10-15% chance it’s genius. There’s a 10-15% chance she’ll get lucky somehow. And there’s a 70-80% chance it’s a disaster.” A third was more frank. “This whole thing boils down to infectious childlike optimism in Downing Street. It would almost be endearing if it wasn’t so completely and utterly ****ing mad.”

Sent from my SM-S901B using Tapatalk

Which Tory MPs?

 

[Machiavelli]

There is no magic Money Tree. Those on low incomes will benefit further as & when the UK tax take increases.
The measures that the Chancellor has put in place will benefit the whole population in time.
View attachment 152159

Jeez. This is the magic money tree. This is the biggest tax giveaway since 1972, and it's all going on debt...
... at a point where government bonds are rising significantly.

 

[bWize]

https://www.reddit.com/r/CurrentEve...e_funds_belonging_to_crispin_odey_former_and/

Utter scum

 

[Weststander]

[MENTION=28490]Machiavelli[/MENTION], thinking ahead, I think you do too. The following could be worthy of a thread of its own, but I don’t many nsc’ers would be interested just now in the fiscal policies of a hypothetical government in Dec 2024 .

My question is, what exactly will Rachel Reeves do, what’s achievable? Simply reversing yesterday’s fiscal event won’t be enough, for example almost everyone here thinks far more should be spent on the NHS and everyone in the public sector deserves substantial pay rises to make up for 2008 to 2022. So many constraints on her or any chancellor …. will Russia still be trying to destroy the West, the huge PSBR, huge public debt serviced at higher interest rates. Plus I know through my profession and it’s widely accepted by civil servants/experts that financial behaviour changes with higher taxes for businessmen etc.

So many spending demands on that Starmer government - NHS, public sector wages, non-HS2 rail projects in the north promised, woefully underfunded mental health services, poverty.

Well read, in practical tax and spend policies, how do think Reeves will go about it?

 

[Guinness Boy]

This is barely satire

[TWEET]1573368415263268864[/TWEET]


Sent from my iPhone using Tapatalk

 

[Horses Arse]

Jeez. This is the magic money tree. This is the biggest tax giveaway since 1972, and it's all going on debt...
... at a point where government bonds are rising significantly.

And what happened then?

Winter of discontent. Blamed on the subsequent Labour Party of course. As will be the case this time round. Will the country forget, believe it is the lefty ******** fault and vote the cheating scum in again??

Of course they will!!

Sent from my SM-S901B using Tapatalk

 

[Horses Arse]

Which Tory MPs?

Do you really think they'll allow their names to be provided? Really?

Sent from my SM-S901B using Tapatalk

 

[KZNSeagull]

Do you really think they'll allow their names to be provided? Really?

Sent from my SM-S901B using Tapatalk

Where did you get those quotes from then?

 

[Horses Arse]

Where did you get those quotes from then?

Newspapers. Looky here for one. https://www.theguardian.com/politic...-convince-tory-mps?CMP=Share_AndroidApp_Other

Sent from my SM-S901B using Tapatalk

 

[Horses Arse]

Newspapers. Looky here for one. https://www.theguardian.com/politic...-convince-tory-mps?CMP=Share_AndroidApp_Other

Sent from my SM-S901B using Tapatalk

Another here https://www.politico.eu/article/liz-truss-tax-cuts-uk-mini-budget/

Sent from my SM-S901B using Tapatalk

 

[KZNSeagull]

Newspapers. Looky here for one. https://www.theguardian.com/politic...-convince-tory-mps?CMP=Share_AndroidApp_Other

Sent from my SM-S901B using Tapatalk

Thanks

 

[A1X]

[tweet]1573768945584201731[/tweet]

 

[Herr Tubthumper]

Could well be. Or maybe the concussion he was clearly suffering from has worn off.

Sent from my SM-S901B using Tapatalk

[MENTION=12697]Steve Foster[/MENTION] said his company is the biggest in Sussex without any external investors. I can fully understand why there’s no external investors.

 

[bWize]

I still can't get over the fact the UK Chancellor is directly linked with the biggest hedge fund in Europe, who are specifically targeting and shorting the £ to devalue it against the dollar. Why are none of the UK media reporting on this? It's beyond corrupt/criminal and exactly what the tower of London was designed for.

 

[Swansman]

I still can't get over the fact the UK Chancellor is directly linked with the biggest hedge fund in Europe, who are specifically targeting and shorting the £ to devalue it against the dollar. Why are none of the UK media reporting on this? It's beyond corrupt/criminal and exactly what the tower of London was designed for.

Because you're supposed to believe in incompetence and blame a small number of individuals. You're not supposed to understand that there is a planned destruction of your country.

The media is just a tool for the powers that be.

 

[lasvegan]

Where’s George Soros when you need him…