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

[KZNSeagull]

No that was just my suggestion...

Oh righto. Perhaps this will be an opportunity to split out renewable electricity into a separate market, if that is possible?

 

[beorhthelm]

Not sure where people have got means tested from for the energy price cap - Hunt has announced a Treasury led review to decrease the burden on the taxpayer. That does not necessarily mean means testing, particularly as the treasury are really bad at identifying people's means, hence why Covid support wasn't means tested.

not only this, it would mean the "price" of energy to increase, contributing to inflation. one of the core objectives of the cap is to take energy shock price out of the inflation calculation. net negative, pay for the means tested at a higher borrowing rate as interest rates rise further.

 

[Thunder Bolt]

Since when did it become normal to hold press conferences instead of announcing changes to Parliament? I know Johnson started it and it avoids scrutiny but the Speaker must develop a pair and insist on proper Parliamentary procedure, with questions.

 

[KZNSeagull]

Since when did it become normal to hold press conferences instead of announcing changes to Parliament? I know Johnson started it and it avoids scrutiny but the Speaker must develop a pair and insist on proper Parliamentary procedure, with questions.

Well it is annoying, but at least he got permission from the speaker to do it this time. He is making a full statement in the commons this afternoon

 

[nicko31]

not only this, it would mean the "price" of energy to increase, contributing to inflation. one of the core objectives of the cap is to take energy shock price out of the inflation calculation. net negative, pay for the means tested at a higher borrowing rate as interest rates rise further.

Guess we'll have to wait and see, a lot can happen between now and April. The cap as it stands is unaffordable in anything beyond the short term.

 

[cjd]

Since when did it become normal to hold press conferences instead of announcing changes to Parliament? I know Johnson started it and it avoids scrutiny but the Speaker must develop a pair and insist on proper Parliamentary procedure, with questions.

Jeremy Hunt made it very clear why it was done this way.


Like it or not, at the moment politicians and their policies are at the mercy of the market ( and global market). Parliamentary procedure at times, has to been over ridden for the benefit of all of us.

 

[BenGarfield]

Can we please,  please, move this MMT willy waving to a different thread?

Tedious doesn't begin to describe it.

Apologies. Look, I know its getting boring and too technical for some, but I was asked a specific question then critisised for not answering it., I wont say any more directly about MMT. MMTs ideas are relevant to critisms of Truss and the other parties oppostion (or lack of) to them. I will try to gear my responses with this in mind

 

[Thunder Bolt]

Kwarteng and Truss were co authors of the book

 

[beorhthelm]

Since when did it become normal to hold press conferences instead of announcing changes to Parliament? I know Johnson started it and it avoids scrutiny but the Speaker must develop a pair and insist on proper Parliamentary procedure, with questions.

probably forever. i dont know why this is become a focal point recently but its long established practice. example the devaluation in 1967 was announced over the weekend before a statment to the house the following Monday. Lamont announced suspension of ERM on the steps outside Treasury back in 1992. policy gets announced regularly in speeches and press releases. what we do seem to miss is published green and white papers, or at least any mention of them.

 

[Machiavelli]

I have heard BTL landlords bemoaning legislation protecting tenants and how it will effect their ability to pay the mortgage. I imagine sympathy will be in short supply among rising interest rates. I've always thought an interest only mortgage a fairly terrible idea personally.

We should be bit careful though, while we're a nation obsessed with home ownership. There is a need for a strong and affordable rental market, reducing supply doesn't support that.

In general, I'll agree with you about interest-only mortgages. I had one (admittedly a low one compared to those offered today), and it worked well with me, because I went through a lengthy period of very low income followed by one of above-average, and it meant that I could compensate for shortcomings in the former period during the latter.

 

[Paulie Gualtieri]

Quite, I don't see how she can stay. Any authority she had has completely gone, and she has been personally humiliated. She must be very tempted to resign.

Does she still get the pension and security detail?

 

[vegster]

I think its going to be the same with a lot of first time buyers, Amy's friends got the keys to their first house last Wednesday, but only after their mortgage had been 're-calibrated' and gone up £436 a month, from what they thought they were going to be paying.

Thats awful ! How on earth are people expected to live ? No doubt they are budgeted almost up to the max before " re-calibration " and thats a hell of a lot more money to find... they are probably not getting a £400 pound a month pay rise I bet...

 

[Thunder Bolt]

probably forever. i dont know why this is become a focal point recently but its long established practice. example the devaluation in 1967 was announced over the weekend before a statment to the house the following Monday. Lamont announced suspension of ERM on the steps outside Treasury back in 1992. policy gets announced regularly in speeches and press releases. what we do seem to miss is published green and white papers, or at least any mention of them.

Chancellors used to resign when Budget details were leaked unless done deliberately ie put out a hint of a bad tax rise so when the actual budget is announced with a smaller tax rise, people breathe a sigh of relief.

 

[Seagull27]

Thats awful ! How on earth are people expected to live ? No doubt they are budgeted almost up to the max before " re-calibration " and thats a hell of a lot more money to find... they are probably not getting a £400 pound a month pay rise I bet...

Think there's going to be a lot of people in this position or worse when remortgaging over the next year or so. According to estimates I've seen, our mortgage is likely to increase by 600-700 a month when we remortgage in September 23. Very worrying.

 

[Da Man Clay]

Can we please,  please, move this MMT willy waving to a different thread?

Tedious doesn't begin to describe it.

The thread ban was spot on. Would like to read about the Trusterfuck and fall out instead of a theory which is a complete irrelevance to the current goings on.

 

[JBizzle]

At that stage, don't be surprised of Boris comes back as a very effective opposition leader. It's the easiest job in the world and he would do it very effectively.

Why would he though? He's not in politics to be opposition, he thinks he's PM material still. The only time Johnson will come back in would be close to an election so he can sweep in and give the polls a boost amongst his loyalists

 

[beorhthelm]

Why would he though? He's not in politics to be opposition, he thinks he's PM material still. The only time Johnson will come back in would be close to an election so he can sweep in and give the polls a boost amongst his loyalists

they'd bring him back as Party Chairman. all the fun of the campaign trail without any responsibility. could swing a few % back i reckon. other than that, i cant see either him or the party being interested.

 

[KZNSeagull]

As an aside, the Westminster Hall debate on sewage discharges is on BBC Parliament now, the chair stood up and said "I ask Huw Merriman to move the motion" and no-one sniggered. Very disappointing.

 

[HAILSHAM SEAGULL]

As an aside, the Westminster Hall debate on sewage discharges is on BBC Parliament now, the chair stood up and said "I ask Huw Merriman to move the motion" and no-one sniggered. Very disappointing.

Another one full of shite

 

[Kinky Gerbil]

Does she still get the pension and security detail?

Is the security for us from her?