How is the Tory Government Doing?

wanderlust wrote:Brexit voters won't like this....

Well you would know that personally from telling everyone that YOU voted FOR Brexit yourself wouldn't you Hoppy510....






(And before you try to lie and deny it yet again, remember that Norpig has since 'outed' you for posting as the Hoppy510 account on ww - and you telling us all publicly how bitter and angry you now are as you've since regretted that you believed that their campaign was factual and honest by just taking Boris' word for it all!!!)

Biggie wrote:What the actual f is going on?
Like how is this kind of thing allowed?

If you earn 20k per year, you will benefit to the tune of saving about £150 over 12 months. £2.88 per week. 

The only reason for needing to take drastic measures with the budget is because the average man in the street can't cope with the cost of living. £2 odd per week is not going to make a jot of difference. The only people who will see a dent are the people already on enough money to not be that bothered by the cost of living crisis. 

One of my customers is on about 200k per year and is set to save nearly 6 grand in tax. Well that will not be so he can put bread on the table. It will just be an extra holiday or another makeover of his massive garden.

It fking stinks.

If you think £200K p.a. is a lot you should take a look at what this lot are drawing in wages per week (not counting wot they get from other stuff like the books one of 'em rites in his own joined-up ritin)

https://www.spotrac.com/epl/manchester-united-fc/payroll/

P.S. I think you'll find that your customer may have nearer to an extra £10k to spend on his garden than £6K.

Interesting article in the Times and others on how Truss's hedge fund backers made a small fortune betting against the British economy ahead of Kamikaze's budget:

Context:

The pound and London stock market plunged in what one analyst called “the worst day I have ever seen” after the Chancellor on Friday revealed his mini-budget.
Sterling repeatedly fell to new 37-year lows against the dollar during the day, slowly edging towards its all-time trough.
At its lowest point on Friday afternoon £1 could buy just 1.0896 dollars – the worst exchange rate for Britons since 1985.


It was a drop of over 3 per cent, and means the pound has lost more than 7 per cent of its value against the dollar in just a month.
Normally a falling pound is good for the FTSE 100 – it makes it cheaper for people outside the UK to buy British-made products.
But Friday was not a normal day.
London’s top index fell below the 7,000-point mark for the first time since mid-June during Friday’s trading.

“The is the worst day I’ve ever seen in the markets from a British perspective,” said Neil Wilson, an analyst at Markets.com.

By the end of the day, the FTSE had closed at 7,018.6, down 140.92 points or 2 per cent.
The FTSE 250 and FTSE All Share indexes also both closed down 2 per cent.
“By throwing Rishi Sunak’s tax raising plans on a bonfire, the Government is taking a big gamble that growth will be ignited, to help the economy grow,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
“But confidence that these unfunded tax cuts are a coherent policy for today’s inflation laden times is going up in smoke, with the pound sliding to fresh 37-year lows against the dollar at 1.10 and Government borrowing costs escalating.
“The yield on 10-year gilts rocketed to hit 3.7%, surging from 3.2 per cent on Tuesday as investors demanded more return for the greater risk they were taking by buying Government debt.”

According to reports in the Times, Truss-supporting hedge fund managers made a small fortune by betting against the British economy ahead of the chancellor’s statement:

https://pbs.twimg.com/media/Fdb-U4zXgAATwDu?format=jpg&name=small

Leigh lad Paul Mason, who is Channel 4's economic editor wrote:

Truss-supporting Mayfair set shorted the Pound as her chancellor launched his Kamikaze budget ... how Conservatism really works...

So do you think those hedge fund backers who aren't supporters of Truss wouldn't have been shortening the pound also?

Truss made a really big deal of rejecting Rushi's economic strategy in their head-to-head for the race to be the next PM and you didn't have to be Einstein to expect there to have been some significant tax cuts this week - and a big U-turn on the government's economic strategy for the last few years.

I would have expected a real Business Consultant would have anticipated that by reducing the tax burden that it would have meant increasing government borrowing to replace the decrease in revenue to the Exchequer and a consequential a fall in sterling's value to the rest of the world, resulting in higher costs of imports into the country but at the same time making exports more competitive in the world market and advised their clients accordingly.

I stated on here a couple of times during her head-to-head with Rushi that I didn't want Truss to be our next PM because I didn't believe her economic strategy was the right one for the country - so even I, a mere bean counter from the lowest levels of public service - or whatever it was that you called me, could see what was coming yet you, Mr (pretend) Business Consultant, seemingly couldn't!

Now here you are trying to make out (yet again!) that there are hidden forces pulling the strings of the country's Prime Minister just (in your imaginary world) to destroy the country's economy so as to make a few fantastically wealthy fat cats get even fatter!

One of the two of us is obviously completely bonkers...

As I keep suggesting you really, really need to...

Sluffy wrote:It's for that reason I've tried on a number of occasions to point you in the way of Cognitive Biases and in particular Confirmation Bias and suggest to you that your 'individual construction of reality' is causing your irrationality in respect of all things Tory and Brexit - and that you should look beyond the social media world that you inhabit as it is simply fueling your world of 'constructed reality' of things, to be true - and it most certainly is not.

Christ you tell me I need help with my mental health but I'm not the one with massive hangup's and hatred to everything Tory and everything Brexit and certainly can't let them go for even a day on here.

You really do need to get yourself sorted out because hatred and prejudice aren't healthy things to carry around with you.

Sluffy wrote:So do you think those hedge fund backers who aren't supporters of Truss wouldn't have been shortening the pound also?

Truss made a really big deal of rejecting Rushi's economic strategy in their head-to-head for the race to be the next PM and you didn't have to be Einstein to expect there to have been some significant tax cuts this week - and a big U-turn on the government's economic strategy for the last few years.

I would have expected a real Business Consultant would have anticipated that by reducing the tax burden that it would have meant increasing government borrowing to replace the decrease in revenue to the Exchequer and a consequential a fall in sterling's value to the rest of the world, resulting in higher costs of imports into the country but at the same time making exports more competitive in the world market and advised their clients accordingly.

I stated on here a couple of times during her head-to-head with Rushi that I didn't want Truss to be our next PM because I didn't believe her economic strategy was the right one for the country - so even I, a mere bean counter from the lowest levels of public service - or whatever it was that you called me, could see what was coming yet you, Mr (pretend) Business Consultant, seemingly couldn't!

Now here you are trying to make out (yet again!) that there are hidden forces pulling the strings of the country's Prime Minister just (in your imaginary world) to destroy the country's economy so as to make a few fantastically wealthy fat cats get even fatter!

One of the two of us is obviously completely bonkers...

As I keep suggesting you really, really need to...

You should definitely write to the author of the piece I posted and complain.

wanderlust wrote:You should definitely write to the author of the piece I posted and complain.

I thought I had considering you failed to give ANY links to the sources.

I would love to read where The Times specifically state that this was all some sort of a predetermined plot by these 'dark forces' you claim who "pulls Truss's strings"...

I look forward to you showing us all exactly where they said (or even implied) that because I can't seem to find it!

Or was what you posted just YOUR 'take' of what really was said?

John Crace's politics sketch: nobody does it better.....

https://www.theguardian.com/politics/2022/sep/23/kwarteng-maxes-out-morally-bankrupt-budget-anything-but-mini

The £ has fallen again on today's early trading - now worth $1.03 - which makes imported stuff even more expensive.

It was $2.5 when I was younger - how times have changed!

Slight bounce in the pound to 1.07 after early trading in the Far East but it's back on it's way down now as is the FTSE.

All the major trading currencies, especially the $ and the euro have made gains against the pound leading to call for further UK interest rises by the BoE to hedge against the threat of runaway inflation.

HMRC opened up investigations into 270 professional footballers in the last year. It may be a crackdown but its unlikely to yield anywhere near as much as Kwasi Kwarteng gave away on Friday.

I estimate that the top ten highest paid Man U players will save an average of £750K each p.a. when the 45% tax band is abolished (plus the corporation tax saving on the extras).

https://www.uhy-uk.com/insights/hmrc-opens-tax-investigations-270-footballers-year-crackdown-sport-intensifies

Gary Neville says footballers don't want to pay less tax. The Daily Mail says Gary Neville's a hypocrite.

https://www.dailymail.co.uk/news/article-11248981/Ex-England-star-Neville-conference-Labour-sets-investment-plan.html

Lets have a heated debate.

Ten Bobsworth wrote:Gary Neville says footballers don't want to pay less tax. The Daily Mail says Gary Neville's a hypocrite.

..and I say the Daily Fail is a dangerous, lying fascist propaganda rag with less journalistic integrity than Russian State TV.

Let's have a mass debate.
 

Back on topic.

Crashing £, crashing FTSE, rising interest rates, rising prices on all imported goods and food, bank rate to rise again in November, rising mortgage fees, rising threat of industrial action, rising cost of national debt interest repayments already above the levels applied to "countries in crisis" like Italy and Greece in recent years- all against a background of unprecedented borrowing and growing inflation.

That was some "mini budget" and worryingly, Truss and Kwarteng weren't expecting the market response they got. According to our old friend "Conservative Home"....

" it is clear that the pair did not expect the mini-Budget to go down as badly with the markets as it has done. From poo-pooing Sunak’s claims that her ideas would spook the money men during the leadership campaign, to the Panglossian future of tax cuts spurring ever-higher growth that Kwarteng laid out on Friday, there was no sign from Truss and Kwarteng that they saw the last 72 hours or so coming."

Reminds me of how the Tories stuck their heads into the sand when Obama told them years ago that Britain would be at the back of the queue when it came to doing a trade deal with the USA.

Now some senior Conservatives are expressing concern that the UK economy is close to the point of no return where i.e. where all factors combine to send the economy spiralling into bankruptcy.

When Thatcher cut taxes, she cut government spending and slashed services at the same time to try to balance the books - but so far there's been no mention of cuts from this lot - surely they will be forced to do it sooner rather than later? It's two years before the next election and I'm not convinced the economy will make it until then without serious intervention. Maybe they'll sell off core services? I just can't see an easy - or palatable - solution.

Ideas on a postcard please.

wanderlust wrote:
..and I say the Daily Fail is a dangerous, lying fascist propaganda rag with less journalistic integrity than Russian State TV.

Let's have a mass debate.
 

Full marks for the heated bit, Lusty, but with respect the question was:
Is Gary Neville a hypocrite?

Ten Bobsworth wrote:
Full marks for the heated bit, Lusty, but with respect the question was:
Is Gary Neville a hypocrite?

No more than the next man.

wanderlust wrote:
No more than the next man.

By the next man, you wouldn’t mean his friends and associates, would you?
‘Scams for scumbags’ was the phrase HMRC’s boss used, wasn’t it?

Mr Pie sums up Truss and her Government very perfectly as usual.

Liz Truss' opening gambit is a statement of intent. https://t.co/snlBXt2pMn

— Jonathan Pie (@JonathanPieNews) September 26, 2022

J Pie....brilliant as always