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Kwarteng to U turn on 45p tax rate….. on 07:01 - Oct 3 by ElderGrizzly
Source appears to be Harry Cole who is as far as up the backside of this leadership as he was Boris
Who on another topic is writing a biography of Liz Truss. It’s blank right?
Out of the blue and into the black You pay for this, but they give you that And once you're gone, you can't come back When you're out of the blue and into the black.
Appears it has probably come from Truss rather than Kwasi. So that's more a case of him being humiliated and forced to change tack.
Wouldn't call him an imbecile, he knew exactly what he wanted, rather a very poor judge of the politics around his move.
And how quick are we all to criticise a ridiculous policy so surely we should welcome the u÷turn?
And as someone who has no time for the tories, I also note we now have a badly damaged chancellor and PM. They have worked out (thankfully) that they can't just prioritise their own idealogical theories without reference to the impact on the markets and/-or to public opinion,
That said, if the borrowing rates for the govt and mortgage rates don't return to where they were (which I doubt) then they will pay a heavy price am sure.
Desperate u-turn from a dying government with little support anywhere other than the tory membership.
Kwarteng to U turn on 45p tax rate….. on 07:33 - Oct 3 by bluelagos
Couple of points.
Appears it has probably come from Truss rather than Kwasi. So that's more a case of him being humiliated and forced to change tack.
Wouldn't call him an imbecile, he knew exactly what he wanted, rather a very poor judge of the politics around his move.
And how quick are we all to criticise a ridiculous policy so surely we should welcome the u÷turn?
And as someone who has no time for the tories, I also note we now have a badly damaged chancellor and PM. They have worked out (thankfully) that they can't just prioritise their own idealogical theories without reference to the impact on the markets and/-or to public opinion,
That said, if the borrowing rates for the govt and mortgage rates don't return to where they were (which I doubt) then they will pay a heavy price am sure.
Desperate u-turn from a dying government with little support anywhere other than the tory membership.
They won’t return as said above, this wasn’t the reason alone the markets were spooked.
It makes up just 5% of their unfunded cuts.
It’s a shouty headline that hides the real problem
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Kwarteng to U turn on 45p tax rate….. on 07:38 - Oct 3 with 1973 views
Kwarteng to U turn on 45p tax rate….. on 07:33 - Oct 3 by bluelagos
Couple of points.
Appears it has probably come from Truss rather than Kwasi. So that's more a case of him being humiliated and forced to change tack.
Wouldn't call him an imbecile, he knew exactly what he wanted, rather a very poor judge of the politics around his move.
And how quick are we all to criticise a ridiculous policy so surely we should welcome the u÷turn?
And as someone who has no time for the tories, I also note we now have a badly damaged chancellor and PM. They have worked out (thankfully) that they can't just prioritise their own idealogical theories without reference to the impact on the markets and/-or to public opinion,
That said, if the borrowing rates for the govt and mortgage rates don't return to where they were (which I doubt) then they will pay a heavy price am sure.
Desperate u-turn from a dying government with little support anywhere other than the tory membership.
U-turns for the right things are always welcomed, as they should be here. The 45p tax rate cut was ridiculous, just no need for it.
As EG has said though, small part of the budget so I'm still very cautious about how they plan to fund the rest of this stuff. I assume some form of austerity.
EDIT: Really interesting wording though, obvious they are also going with it's a "distraction", not that it was actually wrong.
Kwarteng to U turn on 45p tax rate….. on 07:38 - Oct 3 by DanTheMan
U-turns for the right things are always welcomed, as they should be here. The 45p tax rate cut was ridiculous, just no need for it.
As EG has said though, small part of the budget so I'm still very cautious about how they plan to fund the rest of this stuff. I assume some form of austerity.
EDIT: Really interesting wording though, obvious they are also going with it's a "distraction", not that it was actually wrong.
[Post edited 3 Oct 2022 7:45]
Ha. They’re now throwing someone else under the bus for the policy
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Kwarteng to U turn on 45p tax rate….. on 07:40 - Oct 3 with 1951 views
Kwarteng to U turn on 45p tax rate….. on 07:35 - Oct 3 by ElderGrizzly
They won’t return as said above, this wasn’t the reason alone the markets were spooked.
It makes up just 5% of their unfunded cuts.
It’s a shouty headline that hides the real problem
I doubt they will return, and I think in the public eye they will see their higher mortgage costs as a consequence of tory policy.
"Here's a one p tax cut whilst we doubled your mortgage cost" is quite the vote winner eh.
Just don't see this shower recovering from this. Two more years but hopefully today's pragmatic move signals a toning down of the direction of the govt to more economically sound principles.
Scorched earth policies were in no one's interests.
There may be some improvement in Sterling but it won’t fully recover:
- The new leadership have confirmed themselves to be simpletons with no regard for listening to advice. There’s still a lot of scope for other damaging policies.
- USD remains incredibly strong (against most major currencies). The Fed has been way ahead of the BoE in terms of rate rises and economic stimulus. At some point the Fed might have to cool the Dollar if it starts to negatively impact exports.
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Kwarteng to U turn on 45p tax rate….. on 08:10 - Oct 3 with 1770 views
A welcome U-turn on the 45p tax rate perhaps but is this any different to "we have to make 1000 people redundant ...... well actually we've had a second look and it's only 800" which gets sold as "we're saving 200 jobs"?
But without the u-turn the package would not secure parliamentary approval. As the FT put it, the chancellor's mini-budget also includes "£17bn reversal of a corporation tax rise – regarded by business as a low priority – and a £13bn national insurance cut, which will mainly help the better off." And, of course, it also includes the lifting of the "banker's bonus" cap.
There's a long way to go before I'll start believing Kwarteng when he says, "We're listening, we get it". Listening to who? And for what reason?
That's one small step back. What I'd like the conservative Conservatives to force now is the abandonment of the abandonment of responsible planning laws and protection for the environment, in the name of Investment Zones. That's one particular aspect of these bastards' philosophies which I think is pure and irreparable evil, and completely against the ethos of conservatism.
Kwarteng to U turn on 45p tax rate….. on 08:12 - Oct 3 by NthQldITFC
That's one small step back. What I'd like the conservative Conservatives to force now is the abandonment of the abandonment of responsible planning laws and protection for the environment, in the name of Investment Zones. That's one particular aspect of these bastards' philosophies which I think is pure and irreparable evil, and completely against the ethos of conservatism.
Mate, they're all about pure and irreparable evil...
I'm one of the people who was blamed for getting Paul Cook sacked. PM for the full post.
They want to put money into the pockets of the richest at the expense of the poorest. Nothing changes that. Ok, it’s a relatively low sum of money, but for me that’s irrelevant. It’s their ethos. They represent the rich only and believe trickle down economics is the only way forward, despite the theory being long disproved.
Secondly, they announced something at a time of growing hardship, mostly created by themselves, that was always going to go down like a lead balloon. They’ve put no work in to the measures announced. None. Not too long ago dozens of measures like this and worse would be proposed by ministers. The Whitehall waste, the people they despise, the blockers, the dead hand, used to look at all aspects, both economic and political and most would be shelved. Not now - dumb and dumber believe they know and the agile fag packet will do. Now that it won’t do, the markets and everybody else in the world are wrong. How stupid can you get?
The best thing these two clowns could do is resign. But they won’t. The best thing this busted flush of a government could do is call an election. Stand proud on their achievements and get themselves a mandate. Yeah, right. There’s more chance of Ipswich Town changing their first team kit to yellow and green (yuck!) than that happening.
They’ll cling on like brown stuff to a cows rear end. The mess we are in is mostly the governments mess. The cant be allowed to pin it on Putin, the pandemic or anything else.
[Post edited 3 Oct 2022 8:32]
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Kwarteng to U turn on 45p tax rate….. on 09:02 - Oct 3 with 1541 views
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