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[Politics] Liz Truss **RESIGNS 20/10/2022**
- Thread starter Ethelwulf
- Start date
I can't understand why it is so hard for those on the right to look at policies by right wing governments and sometimes just decide they're not very good. Is it simply stubbornness?
In this instance, tax cuts will benefit the rich who don't actually spend the additional money they receive. Furthermore, trickle-down economics just doesn't seem to work.
nicko31
Well-known member
rogersix
Well-known member
- Jan 18, 2014
- 8,202
so is that the only reason that it was made plain that this is NOT a budget, to avoid scrutiny from the OBR?
cos it does seem more budgety than most budgets
rogersix
Well-known member
- Jan 18, 2014
- 8,202
i think it's more an ego thing
In case you were wondering, the cutover at which you're better off starts at £155,000 p.a.
The salary of the Chancellor is...
The salary of the Chancellor is...
Nearly went below 1.09 just now. What have they funking done?
Da Man Clay
T'Blades
- Dec 16, 2004
- 16,286
Pretty much exactly what was expected of a Liz Truss government. It’s only going to get worse.
pb21
Well-known member
- Apr 23, 2010
- 6,688
Down 3% today!
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,015
it may be theres a raft of announcements here some of which can be row'd back on later. the outlook is patchy before trying to put in the energy bailout and then any tax cuts, which may have been revised down. in 6 mth the outlook may look very different.
thing overlooked is there's no spending cuts. the problem is expecting debt will pick up the slack between forward expense and revenue. no one's going to get less, and spending increases carry on.
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Barnet Seagull
Luxury Player
they're not even ideological
I think they are - they are banking on the idea that tax cuts stimulate growth.
It won't address the immediate problems we have though: a cost of living crisis, the need for food banks, sensible management of the national debt, and it definitely won't address spiraling inflation. This is the culmination of 12 years of almost unbelievably incompetent Tory rule.
Ah, well, the trouble with you naysayers is that you continually talk this great country down.
Since we bravely left the EU, America has become our number one trading partner.
In order to encourage further trade, and indeed as a gesture of support to our great ally in these difficult times, we have facilitated trade between ourselves and America by rebalancing the exchange rate.
It's good for business, and good for Britain!
Barnet Seagull
Luxury Player
I've never voted labour in my life. but...
https://twitter.com/GordonBrown/status/1573255074926792704
https://twitter.com/GordonBrown/status/1573255074926792704
Bold Seagull
strong and stable with me, or...
- Jan 3, 2012
- 17,354
vegster
Sanity Clause
- May 5, 2008
- 28,273
The Tories either don't see it or, see it and just don't care....still that Corbyn bloke...phew !
Barnet Seagull
Luxury Player
But there is no logic to the ideological, so perhaps in my mind it's idealistic and insane.
I doubt you'd find many economists who agree that in am environment with high inflation, low unemployment and high costs of borrowing, that a tax cut is ideologically the right thing to do.
By devaluing sterling, they've already probably increased the cost of borrowing of the rest of our debt beyond what they're offering out here. It's moronic.