| Kwasi Kwarteng off to a flyer 17:00 - Sep 26 with 1466 views | blueasfook |
2 weeks into the job and the pound is at an all-time low.
Get these buffoons out before they totally ruin the country. |  |
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| Kwasi Kwarteng off to a flyer on 17:02 - Sep 26 with 1424 views | J2BLUE |
We hear all sorts of names suggested as Chancellor, especially during leadership contests but how many of them are actually qualified to do it? |  |
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| Kwasi Kwarteng off to a flyer on 17:03 - Sep 26 with 1416 views | Keno |
He is the Paul Hurst of Chancellors |  |
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| Kwasi Kwarteng off to a flyer on 17:50 - Sep 26 with 1335 views | positivity |
| Kwasi Kwarteng off to a flyer on 17:03 - Sep 26 by Keno |
He is the Paul Hurst of Chancellors |
that makes mick mccarthy, rishi sunak. think he was more of a george osborne |  |
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| Kwasi Kwarteng off to a flyer on 18:51 - Sep 26 with 1263 views | thecheek |
Didn't Sunak warn against Truss's economic strategy?
Even in a desperate 2 horse race the Tory members managed to get it wrong... |  | | |
| Kwasi Kwarteng off to a flyer on 19:47 - Sep 26 with 1192 views | Eireannach_gorm |
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| Kwasi Kwarteng off to a flyer on 02:55 - Sep 27 with 1073 views | HARRY10 |
The announcement of Friday demonstrated the incompetence of both Kwateng and Truss.
Set aside the sheer lunacy of the cuts. The real danger is in the signal they send out. Much of politics is about perception. The removal of the 45% tax band and the removal of the curb on bankers bonuses set the warning bells ringing.
The message was the Tory Party was no longer hiding its true intent, and was only interested in making the rich richer.
Never mind that the younger generation cannot afford to buy somewhere to live, but are all too often renting from some retiree who benefited from a more sane housing market. And to add insult to injury that they will also be the ones paying for next the decades (?) for wealthy bankers to enjoy even more money now.
Polls now give (26th Sept)
LAB: 45% (+3)
CON: 28% (-4)
LDEM: 9% (-1)
GRN: 7% (-)
which are no doubt be coloured by Friday's car crash announcement, but will still terrify Tory MPs as they mean
Con 142
Lab 416
with Cons losing 223 seats and having 20 fewer MPs than 1997. As around more than 60% of Con MPs would lose their seats. Labour 2 less, but the above does not factor in tactical voting which is thought to shift another 20 seats away from the Cons.
Wiped out by a PM who only attracted 14% (50) MPs in the first leadership ballot - is that knives I hear being sharpened, already ?
et tu Boris [Post edited 27 Sep 2022 2:58]
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| Kwasi Kwarteng off to a flyer on 08:34 - Sep 27 with 920 views | Cheltenham_Blue |
| Kwasi Kwarteng off to a flyer on 17:03 - Sep 26 by Keno |
He is the Paul Hurst of Chancellors |
The second he was announced, I could see trouble ahead. His time as business secretary was marked by bizarre statements and arrogant responses to questions.
As business secretary, you have to imagine he supported the increase to corporation tax, and the windfall tax imposed by Sunak, and then a few months later........ |  |
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| Kwasi Kwarteng off to a flyer on 08:55 - Sep 27 with 886 views | Churchman |
| Kwasi Kwarteng off to a flyer on 08:34 - Sep 27 by Cheltenham_Blue |
The second he was announced, I could see trouble ahead. His time as business secretary was marked by bizarre statements and arrogant responses to questions.
As business secretary, you have to imagine he supported the increase to corporation tax, and the windfall tax imposed by Sunak, and then a few months later........ |
The bloke hasn’t the faintest idea what he’s doing. Not a clue. But then if you don’t feel the need to do the work or understand the consequences of your actions, you never will.
Guardian’s Nils Prately: ‘The key, dangerous, charge against Liz Truss and Kwasi Kwarteng is that they lack the competence to get their “new era” for the UK economy off the launch pad. A lot of financial credibility has been shredded in just two trading days.’
‘Do they understand that, when you’re running a large current account deficit and need to borrow the thick end of £200bn next year, financial markets matter? The prime minister and chancellor might have expected a bumpy reception, but what they got was an open revolt in markets and some extraordinary comments from grown-up economists at serious firms.’
“Hope is not a strategy,” said Nomura’s team, predicting parity for the pound against the dollar by year end. “Investors seem inclined to regard the UK Conservative party as a doomsday cult,” said Paul Donovan at UBS Global Wealth Management.’
The key phrase is ‘hope is not a strategy’
Their lack of interest in doing the work was amply shown to me during the run up to Brexit. They had no idea what the impact of that might be, what it meant or any desire whatsoever to find out. And look what followed. All avoidable.
In their stupidity, arrogance and certainty they haven’t learned anything. |  | | |
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| Kwasi Kwarteng off to a flyer on 09:19 - Sep 27 with 855 views | ElderGrizzly |
| Kwasi Kwarteng off to a flyer on 18:51 - Sep 26 by thecheek |
Didn't Sunak warn against Truss's economic strategy?
Even in a desperate 2 horse race the Tory members managed to get it wrong... |
Yes
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| Kwasi Kwarteng off to a flyer on 09:39 - Sep 27 with 828 views | Swansea_Blue |
I'd heard all this was Labour's fault 
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| Kwasi Kwarteng off to a flyer on 09:45 - Sep 27 with 813 views | HARRY10 |
| Kwasi Kwarteng off to a flyer on 09:39 - Sep 27 by Swansea_Blue |
I'd heard all this was Labour's fault
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Yes, previous Labour leads of 12 points over the previous 9 months had not given rise to any thought that Labour might win the next election.
Kharsi states that inflationary tax cuts are to be introduced and instantly the panic in the markets occur.
Hmm | | | |
| Kwasi Kwarteng off to a flyer on 10:05 - Sep 27 with 773 views | Churchman |
| Kwasi Kwarteng off to a flyer on 09:39 - Sep 27 by Swansea_Blue |
I'd heard all this was Labour's fault
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I don’t think it’s anything to do with Labour Party plans. It’s all to do with insane policy of ballooning debt that isn’t costed, has no real economic benefit (it is an old failed policy). Fag packet ideas railroaded through. OBR kept out, no work. Just thrown out there. Add in a credibility issue with Truss/Kwarteng - people will know they’re idiots so you have the perfect mix.
If the markets perceive that the govt without saying how this adds up will be running to the IMF to bail out unsustainable debt in the coming months, it’s going to dump everything U.K. and rightly so. It’s not as if there is anything tangible coming out of it. Road, rail, energy infrastructure for example - you can see how that might stimulate economic activity and there’s something there for the £..
What I don’t see is how the govt thinks giving billions of pounds to very rich people will stimulate the economy. If I’m on £1m a year and you give me another £50k, what am I going to do with it? I’ve already got the houses, the cars, the holidays and the Fortnums account. My spending won’t change one iota. The money will just go into assets somewhere. If I’m earning £1m a year, invariably I’ll have worked hard for it. Will I work harder because I’ve been handed a further £50k? Will I innovate more? Doubtful
I just don’t get it. | | | |
| Kwasi Kwarteng off to a flyer on 11:44 - Sep 27 with 722 views | Swansea_Blue |
| Kwasi Kwarteng off to a flyer on 09:45 - Sep 27 by HARRY10 |
Yes, previous Labour leads of 12 points over the previous 9 months had not given rise to any thought that Labour might win the next election.
Kharsi states that inflationary tax cuts are to be introduced and instantly the panic in the markets occur.
Hmm |
It's an impressively deluded viewpoint isn't it? But then that's Lilico for you. | |
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