Costero Poderoso
Well-known member
Its not as though this is a surprise, how could we judge before she had even started they said, lets see what she does when she gets in office they said.
Interest Rates
- Thread starter Jaffa_The_Hut
- Start date
Mexboroseasider
Well-known member
Sounds like a leak from Team Rishi to Emily Thornberry to me.
Although I’m surprised you’re briefing against a Tory PM Trammo.
Must be worried
Edit to add. To be fair I might be wrong.
It could be Team Boris that’s doing the leaking.
Last edited:
TwelveAngryMen
Well-known member
Boris was an idiot but he had Sunak
Now we have two idiots
Now we have two idiots
Last edited:
R
rockontommy
Guest
Sunak is a big reason why the economy is in the toilet. He was loving it far too much when the milky bars were on him (us) through Covid and I don't buy for a second his lie that he tried to temper the worst excesses of his splattercash cabinet colleagues.
ElBurroSinNombre
Well-known member
I think that Sunak believes in the same things as KamiKwasi;
- smaller state
- lower taxes
- less regulation
However, he also believes in sound money and costed plans that don't scare the markets.
R
rockontommy
Guest
I think he is (or was) a career man and has no discernible beliefs but has been found out. Sound money and costed plans? I'm not sure how that can be remotely true when the economy is in the toilet following his hit job on the pound. Not saying these new plans are better or will work btw but Rishi and/or BoE really should have had the balls to say no at some point in the last two + yrs.
If you cut VAT on fuel you put a bit of money into regular people's pockets that they will in all liklihood spend in their local economy therefore boosting the whole economy.
If you give tax cuts to the very wealthy they might spend a bit more on a high cost item benefitting very few or just stash it away with the rest of their surplus cash benefitting virtually nobody.
Shandypants
Well-known member
Don't worry lads we have the benefits of brexit to pull us through.
Hertsseasider
Well-known member
This is exactly the bit I just don't get. It seems that the approach is that by removing the higher tax rate, the people that benefit from this will spend more thus boosting the economy.
Well, such folk probably have a larger than average house which will still need heating and probably run at least 2 cars which will still need fueling. Surely, the "savings" they may make will be absorbed by these additional costs? Or maybe, they'll just spend it abroad on more holidays
I don't think there is another country in the G7 that advocates trickle down economics, even the USA doesn't think it works.
If you apply any thought to it its obvious it will only benefit a small amount of people, could even make the situation worse in certain sections of the economy. Give wealthy people excess money they often buy property, this distorts the market and makes it even harder for young people to buy a home. Hopefully the clock is ticking on Tory rule and people will start thinking of their children and grand children and not just approach life centred on their own short term financial desires.
Costero Poderoso
Well-known member
With less regulation and lower taxes you cannot but have a smaller state. However there is some evidence to suggest that over the medium term the pseudo state (the privatised state operations) grows much larger than the original and operates even less efficiently in the pursuit of growth and shareholder value.
southshore
Well-known member
I did agree, but it now seems to me that due to the new Lib Dem cabinets policy of borrow, borrow, borrow, we need to prop up the pound.
Hence the interest rate rise.
Costero Poderoso
Well-known member
The US doesn't call it trickle down economics anymore but they are still to all intents and purposes practicing it. Biden's policies for what they are have at least tried to mitigate the worst but the fed is certainly practicing a version, by delivering planned pain at the lower end of the economic spectrum to ensure the upper tiers are protected.
The ECB has only ever practiced a version of trickle down economics, austerity is TDE written large.
If only greedy, selfish people could be a bit less so!
southshorepool
Well-known member
I feel like I've walked into a restaurant and bought the richest person there the most expensive meal on the menu in the hope I can lick the plate when they've finished.
basilrobbie3
Well-known member
I know a joke about trickle down economics.
But there is no point in telling it because 99% of you won't get it.
Costero Poderoso
Well-known member
You've actually bought the ingredients, made the meal, paid extra to clean up after him, and you were fined for licking the plates before cleaning them
southshorepool
Well-known member
Anyone who is even remotely working class who votes for these truth twisters is a **.
Mexboroseasider
Well-known member
I think the Lib Dems (and Labour) would be taxing the energy companies to at least make a contribution to repaying the increased borrowings. Rather than expecting the rest of us to pay for all of it. And I doubt borrowings by any other party would be targeted at rewarding the very rich with top rate tax cuts.
Yes increased interest rates should help the pound. Which is probably why we’re going to be looking at further increases, probably a lot sooner than many expect. Depends on what happens in the markets early next week I suspect.
1966_and_all_that
Well-known member
Only two?
southshorepool
Well-known member
Odey employs Kwarteng.
Odey bankrolls Brexit.
Brexit destabilises UK.
Kwarteng becomes Chancellor.
Odey bets against GBP.
Kwarteng destabilises GBP.
Odey reaps enormous rewards.
Do you see how it works yet? And this is just one example, of many.
Odey bankrolls Brexit.
Brexit destabilises UK.
Kwarteng becomes Chancellor.
Odey bets against GBP.
Kwarteng destabilises GBP.
Odey reaps enormous rewards.
Do you see how it works yet? And this is just one example, of many.
L’étranger
Well-known member
You certainly wouldn’t put it past them.
The tragedy is that they know that can get away with it and have been doing so for a number of years. And the gullibles will keep voting for them.
Limechase
Well-known member
Only hope this results in redundancies in Local Government & i get my gold plated pension, fuck you lot....
When the pound and markets recover- which they will- will you eat humble carrot donkey?
BFC_53
Well-known member
It seems to me the recent tax cuts are the last roll of the dice from a government in its death throes. The Tories' fiscal policy over the last few years has all the hallmarks of a Karl Oyston transfer window - scattergun. They're flapping, and changing direction more than a tennis ball at a Wimbledon final. First we need to balance the books but do it through spending cuts rather than tax increases, then we need to raise taxes to pay for the NHS, social care and Covid, and now we're going to scrap that and cut taxes instead but borrow money instead of cutting spending. All within 12 years. That really doesn't seem like a party that knows which direction is best.
Whenever the same governing party starts trying different things to solve problems, it should set off alarm bells that they have no idea what they're doing.
Their biggest problem at the next election is they have no clue how to keep hold of the northern votes post-brexit, mainly because Tory MPs aren't people that can connect to working class northern people. They latched on to Brexit and correctly identified that Boris could forge that connection over that single issue, but he was getting more unpopular with the traditional vote due to a lack of integrity. Now that Brexit isn't top of the list of concerns, they don't know what to do.
I think the country's finances will be in an even bigger mess in two years time tbh, and I think the Tory majority will be wiped out.
Whenever the same governing party starts trying different things to solve problems, it should set off alarm bells that they have no idea what they're doing.
Their biggest problem at the next election is they have no clue how to keep hold of the northern votes post-brexit, mainly because Tory MPs aren't people that can connect to working class northern people. They latched on to Brexit and correctly identified that Boris could forge that connection over that single issue, but he was getting more unpopular with the traditional vote due to a lack of integrity. Now that Brexit isn't top of the list of concerns, they don't know what to do.
I think the country's finances will be in an even bigger mess in two years time tbh, and I think the Tory majority will be wiped out.
ElBurroSinNombre
Well-known member
It is being reported that Truss and Kwartang had dinner with a group of hedge fund managers last week. All were shorting the pound, several have made a lot of money out of the budget. They are doing it in front of pur faces.