[Politics] The Labour Government

The Clamp · Dec 17, 2024

Moshe Gariani said:
Because Starmer and his Government are taking the tough decisions needed to unravel 14 years of Tory self-interested incompetence.

The people with whom he is so unpopular are too stupid to understand what is going on. They would be much happier with Johnson back in No.10 or, God forbid, the latest populist pygmy they've stuck the blue rosette on.

Now hang on.

It’s true that I don’t like Starmer.

I do realise tough decisions have to be made.

I think some of the sectors of society he has chosen are unwise. Or at least, very clumsily presented to the electorate.

Whatever the truth, the optics are that Labour are going after pensioners.

It’s going to take at least two terms to get this country anywhere nearing being back to a going concern and I’d like to see Labour do that. The way they have started has damaged their chances at the next election.

The Tory’s are hardening into a far right mob. We can’t afford to let them back into power.

Starmer needs to start landing some heavy blows on water companies, energy providers. Companies emptying sewage into our waterways and power companies awarding people £77k Christmas bonuses.

Labour need to start working on their public image. And damned quickly.

Rdodge30 · Dec 17, 2024

Moshe Gariani said:
The people with whom he is so unpopular are too stupid to understand what is going on

Massive generalisation - I'm assuming based on your view that the lack of popularity for the son of a toolmaker is down to Tories alone?

Also incredibly arrogant, whether they are Tories or not they are not stupid just because they disagree with you.

As with all politics only time will tell if this Government can turn the country around from the disastrous last government but personally from what I’ve seen then I think its possible, even likely that they will crash the economy and we could see record levels of unemployment.

So far the very people who elected them are the people who will end up worse off through sheer amateurish idealistic economic policies

Is it PotG? · Dec 17, 2024

Moshe Gariani said:
The people with whom he is so unpopular are too stupid to understand what is going on.

Love the attitude!

Did you ever post on the Brexit thread?

LamieRobertson · Dec 17, 2024

Moshe Gariani said:
Because Starmer and his Government are taking the tough decisions needed to unravel 14 years of Tory self-interested incompetence.

The people with whom he is so unpopular are too stupid to understand what is going on. They would be much happier with Johnson back in No.10 or, God forbid, the latest populist pygmy they've stuck the blue rosette on.

That really is the best joke I’ve heard in a long while….you are joking aren’t you

armchairclubber · Dec 17, 2024

Moshe Gariani said:
Because Starmer and his Government are taking the tough decisions needed to unravel 14 years of Tory self-interested incompetence.

The people with whom he is so unpopular are too stupid to understand what is going on. They would be much happier with Johnson back in No.10 or, God forbid, the latest populist pygmy they've stuck the blue rosette on.

Rdodge30 · Dec 17, 2024

The Clamp said:
It’s going to take at least two terms to get this country anywhere nearing being back to a going concern and I’d like to see Labour do that. The way they have started has damaged their chances at the next election

I don’t see it going two terms. Despite what many have said on here the budget was a spectacular disaster that will take effect reasonably quickly in political terms. High Inflation will almost certainly be the result of all the heavy taxing of businesses…. Inflationary price increases … decreased spending power … insufficient personal funds … unemployment… recession before this time next year.

I’m struggling to think of positives so far, the only one is that they managed to find a way to sack the transport secretary- probably by leaking something that they already knew- unfortunately it was only after they realised how bad the train driver’s settlement was.

Herr Tubthumper · Dec 17, 2024

Rdodge30 said:
personally from what I’ve seen then I think its possible, even likely that they will crash the economy and we could see record levels of unemployment.

When do you think they plan to do this?

Rdodge30 · Dec 17, 2024

Herr Tubthumper said:
When do you think they plan to do this?

I don’t think they have done it deliberately, I think that the immediate effect of the budget will result in high inflation unemployment and recession. Very very quickly

abc · Dec 17, 2024

Out the blue, I’ve heard three different people whom I would consider to be quite balanced and generally politically uninterested, use the words Dictator or dictatorship when talking about this government.
I’m not sure what to think, but I do wonder what the hell Starmer and Rayner are going to come out with next - and why

pb21 · Dec 17, 2024

Rdodge30 said:
I don’t think they have done it deliberately, I think that the immediate effect of the budget will result in high inflation unemployment and recession. Very very quickly

Why will it result in high inflation?

LamieRobertson · Dec 17, 2024

Rdodge30 said:
I don’t think they have done it deliberately, I think that the immediate effect of the budget will result in high inflation unemployment and recession. Very very quickly

certainly the immediate outlook isn’t very encouraging if one believes what’s being reported……base rate not being cut as low as expected next year…..higher government borrowing costs ….reduction in hiring …one could go on …hard to see where this ‘growth’ is coming from….but then I’m not an economist with the BofE

Rdodge30 · Dec 17, 2024

pb21 said:
Why will it result in high inflation?

Businesses have been heavily taxed, the supermarkets alone are saying that the costs due to the National Insurance changes will run into billions. Like all the big businesses and corporations They will either have to reduce costs or increase prices… so they will increase prices initially and then moving forward they will reduce costs by reducing future wage growth for staff

The reason we know this is what will happen is because it’s what Rachel Reeves said at the time !!!!!

Small business will also have to increase prices and reduce wage growth but will have much less room for manoeuvre. Unfortunately many will fold.

The budget was a spectacular disaster

Bozza · Dec 17, 2024

pb21 said:
Why will it result in high inflation?

Well, we know it is likely to lead to highER inflation - Rachel Reeves said it herself when she gave her statement to The House, as the OBR analysis of her measures stated as much.

It was still forecast to be <3% though (peaking at 2.7% give or take), so I doubt most would consider that high in absolute terms, but it is expected to be higher than the current rate and to also remain above the BoE's target rate of 2% for several years at least.

Rdodge30 · Dec 17, 2024

Bozza said:
Well, we know it is likely to lead to highER inflation - Rachel Reeves said it herself when she gave her statement to The House, as the OBR analysis of her measures stated as much.

It was still <3% though, so I doubt most would consider that high in absolute terms, but it is expected to b higher than the current rate and to remain above the BoE's target rate of 2% for several years at least.

She also said that the options open to businesses were to take a cut in profits, increase prices or reduce wage growth (for the very working people the budget supposedly protected)

Herr Tubthumper · Dec 17, 2024

Rdodge30 said:
I don’t think they have done it deliberately, I think that the immediate effect of the budget will result in high inflation unemployment and recession. Very very quickly

Why high inflation?

pb21 · Dec 17, 2024

Rdodge30 said:
Businesses have been heavily taxed, the supermarkets alone are saying that the costs due to the National Insurance changes will run into billions. Like all the big businesses and corporations They will either have to reduce costs or increase prices… so they will increase prices initially and then moving forward they will reduce costs by reducing future wage growth for staff

The reason we know this is what will happen is because it’s what Rachel Reeves said at the time !!!!!

Small business will also have to increase prices and reduce wage growth but will have much less room for manoeuvre. Unfortunately many will fold.

The budget was a spectacular disaster

WRT @Bozza reply below it seems that you are being somewhat hyperbolic saying it will result in high inflation very quickly.

I can see the logic for an increase in inflation above target in the short term (2.7 compared to 2.0) but it's a bit OTT to claim that's high.

LamieRobertson · Dec 17, 2024

Bozza said:
Well, we know it is likely to lead to highER inflation - Rachel Reeves said it herself when she gave her statement to The House, as the OBR analysis of her measures stated as much.

It was still forecast to be <3% though (peaking at 2.7% give or take), so I doubt most would consider that high in absolute terms, but it is expected to be higher than the current rate and to also remain above the BoE's target rate of 2% for several years at least.

Yes it’s important to distinguish between high and higher …..disappointing news today on wage growth being higher than expected dampening rate cut expectations….whereas the ECB cut last week and has signalled further cuts and The Fed is expecting to tomorrow……

Rdodge30 · Dec 17, 2024

pb21 said:
WRT @Bozza reply below it seems that you are being somewhat hyperbolic saying it will result in high inflation very quickly.

I can see the logic for an increase in inflation above target in the short term (2.7 compared to 2.0) but it's a bit OTT to claim that's high.

Nobody’s paying the extra yet, it doesn’t come into force until April

One of the real heavy attacks is reducing the threshold to £5pa so basically all part time staff now employers pay £15 per £100

I spoke to one person who’s bills will increase £100k +

I think it is going to be absolutely catastrophic, honestly I haven’t spoken to anyone else in business who doesn’t agree …or read any thing by business leaders that doesn’t agree

Herr Tubthumper · Dec 17, 2024

Rdodge30 said:
Nobody’s paying the extra yet, it doesn’t come into force until April

One of the real heavy attacks is reducing the threshold to £5pa so basically all part time staff now employers pay £15 per £100

I spoke to one person who’s bills will increase £100k +

I think it is going to be absolutely catastrophic, honestly I haven’t spoken to anyone else in business who doesn’t agree …or read any thing by business leaders that doesn’t agree

There are banks, economists and businesses projecting modest growth, inflation bumping around 2.5 and future cuts in the BoE in 2025 though.

LamieRobertson · Dec 17, 2024

Herr Tubthumper said:
There are banks, economists and businesses projecting modest growth, inflation bumping around 2.5 and future cuts in the BoE in 2025 though.

What do they say about economists..put twenty in a room get 20 different answers..

base rate cuts still forecast but not as many and as soon as first muted…meanwhile ten year gilt yield rises

re businesses I guess it’s what story u listen to…I’ve read plenty of ones like these

Archie Norman, chairman of Mark & Spencer, told The Telegraph that the increase in employers’ National Insurance contributionsannounced in the Budget would inevitably lead to higher prices and lower economic activity.

He said: “It is just unassailable arithmetic that if you put up National Insurance to that extent you will take money out of profits, out of funds that would have been available for investment, or for paying corporation tax, or for employing people

and……

Jaguar Land Rover (JLR) said it was mothballing “significant” investment plans in response to the increase in employer National Insurance contributions.

Murray Paul, JLR’s public affairs director, told a Business and Trade Committee hearing that the added cost “has had the effect that we are having to unwind some investment that we were planning to make in the business over the next five year period”.

[Politics] The Labour Government

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