2022 mini-budget discussion

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Demon said:
This was discussed to death yesterday in the office and our most vocal labourite was lambasting Truss for trying to spend her way out of the recession and this is an obvious fallacy basing that on having this huge debt around our necks, so I just asked why was he so against Cameron and the period of austerity to reduce debt because at that time the same vocal labourite thought the way to stimulate the economy was to spend our way out?
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I mean it's pretty basic economics, you (the government) should borrow to spend when interest rates are low and borrow less when interest rates rise, not the other way around as we've been doing for the last 12 years.

You do that because when the private sector loses confidence like they did after the 08 global financial crash you want to increase the supply of money in the economy to stimulate growth and restore confidence, when confidence starts returning (when you start getting increases in GDP growth) you wind down the borrowing because the private sector feels confident enough to take on more debt, then if you start to see inflation rising above targets you should start repaying that debt, you should start taking more out of the economy than your spending, you should be repaying the debt that you accrued when interest rate were low.

Basically you work with your central bank, not against them.
 
Harlequin said:
The GE is in 2024, this is happening right now; so going herp derp Labour is deflecting from what is actually happening and is ignoring the consequences oh pre school level economic policy - 18 months before a GE.
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Exactly. They're demanding to know how Labour intend to fix things when the Tories are still in the process of breaking it.

The tenant is in the process of wrecking the property with a baseball bat and all these nutters want to do is interview the next tenant.

"Mmm, sorry mate no pets allowed."
 
pallys said:
In return for wealth creation yeah. Perhaps forgoing that additional measly 5% is worth it.
After all 99% of the folk here are employed by those talented wealth creators. Dont bite the hands that feed you.

I would have kept the 45% band but only for the optics, financially I don't think it makes sense to keep it though.


The mistake is to think the outcome would be any different under labour. The US is shafting everyone but they don't care as long as they're alright, they don't care their own people will lose jobs as a result.
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Wealth creation by the likes of @Beasty who is going to put the extra £40k in the bank before apparently moving to Spain you mean?
 
n111ck said:
So you dont think Labour have a chance of being elected so what they say can be safely ignored own this situation?
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Cutting taxes (supply side economics) is one way of stimulating growth - BUT, the UK has 2 significant barriers to that approach even having a chance. 1) There are more jobs and people looking for work. 2) The UK has sky high inflation thats rising.

Companies have zero incentive for employing and are in survival mode as the recession deepens. The government can fudge the numbers, but UK PLc has a deflating economy, once anyone competent actually looks at the numbers.
 
Dirk Diggler said:
Exactly. They're demanding to know how Labour intend to fix things when the Tories are still in the process of breaking it.

The tenant is in the process of wrecking the property with a baseball bat and all these nutters want to do is interview the next tenant.

"Mmm, sorry mate no pets allowed."
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Its all they have left.
 
spaggyboy said:
You spelt lying to the Queen and Parliament, and changing the rules to let a sexual predator off the hook, wrongly...
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Adding KGB spies into parliament. Holding back the Russian interference report. The list goes on. But the person you're quoting is cut from the same cloth as Boris so you might as well talk to a brick wall.
 
StriderX said:
All these strident Tory defenders in here... just know Labour is coming. :cry:
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And if tories are destroying thier previous selling point (financial stability) it could be a devastating loss.

What's a typical tory voter? Asset rich? Good pension? Valuable home.
You've got life long tory voters saying they have to switch. They can't vote for her.

What are tories directly responsible for?
Borderline pension collapse, house price crash, stock market crashing.


Well played!


The only ones left to vote tory are the 1 percent. And the stupid.
 
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413x said:
What are tories directly responsible for?
Borderline pension collapse, house price crash, stock market crashing.


Well played!
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Cutting Services
Cutting Police numbers
Recruitment drive to get police numbers back up to previous levels
Brexit referendum
Northern Ireland protocol that they don't like
"oven ready deal" that they want to renegotiate because it was so bad

Etc etc.
 
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