2022 mini-budget discussion

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Raymond Lin said:
Legally I don't think they are corrupt, morally, definitely and pretty sure their policies would have a positive impact in their own pocket.

I do wonder when they make budget like this, do they ask any economic professors or think tank whether it is indeed a good idea or a sound plan?

It seems strange it goes opposite to what the BoE is trying to do.
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they asked Minford probably, he likes a bit of disaster capitalism.
 
413x said:
Time for Bailey to grow a pair with that big salary slacking up until now.

I bet they just issue a statement with no changes to the rate. There's been a bit of a recovery of the gbp. Is an emergency rise being prices in?
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I imagine the markets priced it in this morning when they saw the damage. If BoE just put out some words and no actions then the £ will tank again forcing them inot a significant rise I would have thought ?
 
wildman said:
I imagine the markets priced it in this morning when they saw the damage. If BoE just put out some words and no actions then the £ will tank again forcing them inot a significant rise I would have thought ?
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I agree. I think markets are expecting something tangible.

We've got a fight between BoE and government.
And kwasi has said "more cuts to come" so we know that stance.
What we don't know is if the base rate will be static until November.

Begs the question. If not now... When?
Surely this is the time and the excuse you need to take some action?
 
wildman said:
I imagine the markets priced it in this morning when they saw the damage. If BoE just put out some words and no actions then the £ will tank again forcing them inot a significant rise I would have thought ?
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The markets have priced in a 1.5% increase by the end of this week. If that doesnt happen now, then the markets really will tank next week, this week was nothing.
 
413x said:
I agree. I think markets are expecting something tangible.

We've got a fight between BoE and government.
And kwasi has said "more cuts to come" so we know that stance.
What we don't know is if the base rate will be static until November.

Begs the question. If not now... When?
Surely this is the time and the excuse you need to take some action?
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yes, the headline fight is certainly Government v BoE, forget Fury v AJ............

I would place my bet on the BoE winning. At least we have to hope they win or we are all getting bent over without lube.
 
The thing about these tax cuts is that they just undo things people had already cracked on with. The fact they saved our arses w.r.t heating bills was a major bonus. They then just needed to bung Sainsburys delivery vouchers to the super poor to offset things a bit.
 
Greebo said:
The markets have priced in a 1.5% increase by the end of this week. If that doesnt happen now, then the markets really will tank next week, this week was nothing.
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Ugh. People coming off fixed rates in the next few months will see their payments double, or more.

That's horrific. Tax cuts won't even touch that for most.
 
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So what do we expect the government to do here, I mean if they turn around and go "derp, sorry bout that, we'll just reverse what we said" they're basically all going to get removed.

How exactly are they going to unwind this, because it seems clear that they've made one hell of a ******* mess.
 
Screeeech said:
So what do we expect the government to do here, I mean if they turn around and go "derp, sorry bout that, we'll just reverse what we said" they're basically all going to get removed.

How exactly are they going to unwind this, because it seems clear that they've made one hell of a ******* mess.
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I'm guessing they'll double down on the stupid. I hope I'm wrong though.
 
Chris Wilson said:
I look at things such as the forum section "Images of things you have purchased" I call it "Consumerist Central" and think no wonder debt is rife. I think to customers over the years who said things to the effect that they thought I'd have a flash car myself. I have overheard the comments like, "He's a scruffy sod, why doesn't he buy some new clothes instead of wearing overalls all the time", whilst they themselves are scratching to pay their bill.

I think of the High Streets full of fast food places, catering for parents too idle and disorganised to buy and cook decent food for their family, and the tattoo parlours decorating the women to look like sailors, whilst the bints themselves are in the pubs, smoking and drinking whilst simultaneously moaning about having no money.

Much of the people's debt is totally self inflicted through greed, consumerism and a lack of self control. People are unwilling to save, unwilling to wait, unwilling to make do and mend, but only too willing to get deeply in debt. If they were in debt financing a decent education for their kids I could sympathise, but such is rarely the case.
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Freakbro said:
This is again one of the rare times we are in agreement of the issue, though I expect we will differ on the cause.

Society has been taught to be this way, just as it was taught to make do and mend in previous generations. And it's purely down to the capitalistic, profit driven motive funded by easy credit.
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+1. Can’t believe I agreed with Chris for once. :cry:

TheOracle said:
Personally, I think we're rolling down the hill so fast you either jump off now and kill yourself, or try and have a little fun till it falls over the cliff. There is a way to have fun, but you have to get rid of your morals......something until recently I'd never entartain, but since I've seen other people do it, even those in westminster, I'm giving it some serious thought.
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What sort of thing do you have in mind? Asking for a friend… :p
 
TheOracle said:
There is a way to have fun, but you have to get rid of your morals......something until recently I'd never entartain, but since I've seen other people do it, even those in westminster, I'm giving it some serious thought.
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What you thinking ? Junk inside a pig head cameron style ? can that be classified as fun ???
 
potatolord said:
Ugh. People coming off fixed rates in the next few months will see their payments double, or more.

That's horrific. Tax cuts won't even touch that for most.
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endgame-now.gif
 
Irish_Tom said:
What sort of thing do you have in mind? Asking for a friend… :p
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I honestly don't think I could bring myself to do it, but it's pretty much a sure fire way of making thousands of pounds a month. It seems (and this is hard to believe but it's true) it's not illegal, but pretty much involves stealling money from people (in a round about way).

The police turn a blind eye saying it's not criminal, and the courts don't bother either.
 
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Screeeech said:
So what do we expect the government to do here, I mean if they turn around and go "derp, sorry bout that, we'll just reverse what we said" they're basically all going to get removed.

How exactly are they going to unwind this, because it seems clear that they've made one hell of a ******* mess.
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Lizz Truss: “My Chancellor’s mini-budget has been completely misinterpreted by everyone. That’s not what he said at all.

What we’re actually going to do is increase the tax threshold for lower earners and pay for it by adding 1p in the £ for the 40% and 45% tax brackets. Oh, and we are going ahead with a windfall tax on energy producers”.

:D
 
TheOracle said:
I honestly don't think I could bring myself to do it, but it's pretty much a sure fire way to make thousands of pounds a month. It seems (and this is hard to believe but it's true) it's not illegal, but pretty much involves stealling money from people (in a round about way).

The police turn a blind eye saying it's not criminal, and the courts don't bother either.
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Multi-Level Marketing?

You planning on selling Arbonne or something? :D
 
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