So What Is In His Mini-Budget?

[Jack Grey]

3 minutes ago, El Cid said:

The Tories have had leaders that lied and made the country poorer, there is only one alternative, vote Labour.

But this thread is about the mini budget which has been a disaster, putting up inflation which is bad for mortgage holders and businesses.

Well the Labour party seemed more concerned about trees than people at their conference

 

No one wants to hear about green policies at the moment

[El Cid]

1 minute ago, Jack Grey said:

Well the Labour party seemed more concerned about trees than people at their conference

 

No one wants to hear about green policies at the moment

I understand they are racing ahead in the polls, let's see what happens before the general election.

[Jack Grey]

1 minute ago, El Cid said:

I understand they are racing ahead in the polls, let's see what happens before the general election.

Yeah i remember when they said that people we vote to remain in the EU and that Corbyn was gonna be our next Prime Minister 👍

Edited September 29, 2022 by Jack Grey

[El Cid]

The rumour is that the report from the OBR shows the UK doing really well 😭😭

[El Cid]

The government is injecting money into the economy in pursuit of growth and the BoE is trying to take money out of the economy by raising rates to control inflation. Go figure!

[Magilla]

On 01/10/2022 at 19:34, El Cid said:

The government is injecting money into the economy in pursuit of growth and the BoE is trying to take money out of the economy by raising rates to control inflation. Go figure!

Bit of an oversimplification, the BoE intervened to prevent the mass insolvency of pension funds and a system-wide financial crisis.

 

The Monetary Policy Committee decides on interest rates/inflation issues, this action was taken by the Financial Policy Committee to stop the UK economy going into meltdown. It wasn't really so much about controlling interest rates.

 

This was very close to another Lehman Brothers moment, entirely fabricated by the UK government!

 

[Edit: Appreciate you aren't necessarily referring the the recent action but in more general terms]

Edited October 3, 2022 by Magilla

[El Cid]

59 minutes ago, Magilla said:

Bit of an oversimplification, the BoE intervened to prevent the mass insolvency of pension funds and a system-wide financial crisis.

The markets were spooked and interest rates are going up more because of this budget. Tax cuts are always inflationary.

[Jack Grey]

Liz Truss has this morning abandoned the 45p tax cut for the rich after revolt from MPs

 

Truss and Kwarteng ditch plan for tax cut for highest earners

 

https://news.sky.com/story/truss-to-ditch-plans-to-abolish-45p-rate-of-tax-for-higher-earners-12710900

Edited October 3, 2022 by Jack Grey

[Mister M]

47 minutes ago, Jack Grey said:

Liz Truss has this morning abandoned the 45p tax cut for the rich after revolt from MPs

 

Truss and Kwarteng ditch plan for tax cut for highest earners

 

https://news.sky.com/story/truss-to-ditch-plans-to-abolish-45p-rate-of-tax-for-higher-earners-12710900

Oh.

I thought she was being very clear that abolishing the 45p rate was essential for economic growth. 

Liz Truss says "I'm. very. determined. and. I'm. very. resilient."

[Jack Grey]

8 minutes ago, Mister M said:

Oh.

I thought she was being very clear that abolishing the 45p rate was essential for economic growth. 

Liz Truss says "I'm. very. determined. and. I'm. very. resilient."

Id prefer that our politicians roll back on decisions instead of sticking with them to save face