2022 mini-budget discussion

[delta0]

Noises are already being made about selling the NHS

You got quite far down the doom scrolling

Truss and Kwasi have to either resign, or double down. There is no alternative where they retain credibility. They will take the country down with them.

We're in an inflationary crisis and the BoE has just had to initiate emergency money printing again to prevent major pension funds going insolvent.

I can only think of them possibly deferring the tax changes to an unspecified date.

 

[chrismscotland]

We were already heading towards some kind of market problem. It is happening around the world.

I have to agree, after the billions spent on covid, the cost of living crisis, etc we were heading for a crunch.

 

[StriderX]

The Tories are all out of options that don't hurt them further thankfully, unfortunately they'll happily take the country with them.

 

[sigma]

There's the other option that Truss knows she laid a smelly brick and ran because it was too rotten even for her.

Highly doubt it

 

[glenimp617]

You got quite far down the doom scrolling

Sir Charlie Bean, make of it what you will

 

[chroniclard]

I have to agree, after the billions spent on covid, the cost of living crisis, etc we were heading for a crunch.

Right, so perfect time for massive tax breaks........oh wait..

 

[sigma]

The Tories are all out of options that don't hurt them further thankfully, unfortunately they'll happily take the country with them.

Only 99% of the country.

 

[Dirk Diggler]

The BoE doesn't just out of the blue announce they're restarting quantitive easing unless something very serious was about go down.

It really does have shades of Do Kwon and Luna. Utterly mental that the Tories have brought us to this level by electing their Maggie Thatcher fantasy. I mean honestly, she has literally no qualification for the position as she was a laughing stock as foreign secretary. It's the the exact move they made with Johnson; elected on the basis that he's good craic.

Nutters.

 

[sigma]

Right, so perfect time for massive tax breaks........oh wait..

Fickle drown economics

 

[Felon]

Just heard on LBC that apparently the secretary to the treasury, has basically said that everything is fine - there will be no U turn or changes, they think this is the right thing for the country.

 

[chrismscotland]

Right, so perfect time for massive tax breaks........oh wait..

It wasn't the time to cut the 45% rate, no

 

[chrismscotland]

Just heard on LBC that apparently the secretary to the treasury, has basically said that everything is fine - there will be no U turn or changes, they think this is the right thing for the country.

Yep, Financial Sec to the Treasury just been on Sky News

 

[glenimp617]

Just heard on LBC that apparently the secretary to the treasury, has basically said that everything is fine - there will be no U turn or changes, they think this is the right thing for the country.

I'm still not sure if it's incompetence or corruption

 

[sigma]

Just heard on LBC that apparently the secretary to the treasury, has basically said that everything is fine - there will be no U turn or changes, they think this is the right thing for the country.

If anything, surely MPs need a pay rise?

 

[Uther]

Truss and Kwasi have to either resign, or double down. There is no alternative where they retain credibility. They will take the country down with them.

We're in an inflationary crisis and the BoE has just had to initiate emergency money printing again to prevent major pension funds going insolvent.

Doubling down it is...

Chancellor Kwasi Kwarteng will not resign and economic policies will not be reversed, Sky News told​

'Since his mini-budget announcement last week, Chancellor Kwasi Kwarteng has faced public calls to step down from his role.
The policies he announced have sent UK markets reeling, with the Bank of England announcing specific intervention today to try and restore stability.
However, Sky News' political editor Beth Rigby has been told by Treasury sources that he will not be resigning.
On top of that, there will be "no reversal" on the policies he introduced. '

 

[StriderX]

Well nobody is going to invest are they Kwasi?

Moron.

 

[413x]

I'm still not sure if it's incompetence or corruption

Me either. I'm leaning towards corruption. Genuinely

 

[glenimp617]

I've found Kamikaze

 

[Greebo]

There were rumours I'm sure you'll have heard about even more tax cuts, can't remember if it was Truss or Kwarteng saying "this is just the begining!".

I would expect now the uturn will be huge. I do hope they do it on a Sunday though (the uturn that is) just to keep up with Johnson's tradition

Indeed. It was already leaked that they planned to remove the removal of the tax free allowance between £100k and £150k to give those high earners another £5k tax deduction so they can trickle it down...........

 

[glenimp617]

Indeed. It was already leaked that they planned to remove the removal of the tax free allowance between £100k and £150k to give those high earners another £5k tax deduction so they can trickle it down...........

This really is starting to sound like corruption now