Assuming the reports are correct and bearing in mind Tory MPs were making it clear they would vote against that element of the package, I don’t think she had much choice.
And only a day or so ago they were warning any Tory MPs who voted against would be kicked out of the party.And wait for the rewriting of history.
Good. Throw in with that a new windfall tax on the energy producers, which would help balance the books a bit as well as shifting the political optics some more, and maybe we can move on a bit.A windfall tax would be a shrewd political move (pinching a popular Labour policy) as well as a shrewd economic move (reducing government borrowing). A different Tory leader would probably go for it but I doubt Truss will. Time will tell.Pleased there has been some movement.
I don’t get the Tories fear about not applying windfall taxes on energy suppliers because of the concerns that it will slow down their investments in future development of alternative energies. So we give them £100billion+? that we the tax payer will have to pay back for generations to come and these suppliers still maintain their massive profit margins!
I think it’s an ideological thing. They just don’t like taxes.
it makes no sense what Truss says (but does anything) because the companies providing energy resources now are not the companies that will be providing sustainable energy resources in the future. Truss is simply giving the energy companies one last hurrah before significant change happens to the energy sector. IF anything a windfall tax could even be applied to traditional energy companies and then tax breaks given to sustainable energy companies. A traditional energy company could offset its windfall liabilities with sustainable tax breaks. The problem is that every tax incentive for sustainable across the whole of europe and the US has been very badly drafted and have caused significant problems for the energy companies and to energy security in general, No doubt a government would fuck it up by pandering to whatever group was backing them.
Yep. The reversal of policy, whilst welcome, is way too late for all those first time buyers who’ve had their mortgage offers withdrawn and who have now been priced out of the mortgage market.
A humiliating climbdown after defending it to the hilt yesterday.
They could mandate energy companies to spend the windfall on R&D in this country or forfeit it in a windfall tax.
I agree with most of that.
I haven’t seen it but apparently the editorial in this morning’s Telegraph does actually use the phrase “The Lady is not for turning”. Ooops.It’s an embarrassing U turn.
It was Kamikaze Kwarteng now it’s I didn’t really mean what I said Kwarteng.
And this lady said she wasn’t for changing.
Lost Seasider might have to draw a graph to justify this one!
Yes. I was just thinking he and Malced were a bit quiet this morning.
Double post
He buys the Telegraph every day so doesn’t need a link.
Youre joking I assume. Still listening to the Institute of Economic Affairs, Taxpayers Alliance and sundry other right wing free market " think tanks" with opaque funding
Khasi Kwarteng today proposing cuts in real terms to public services of 18 billion by not increasing funding to allow for inflation. NHS really struggling now, but yes0 lets have a champagne party for mega rich " financiers".
Exactly. Benefits is always a great one to hit, as they like to perpetuate the myth that all people in receipt are lazy work dodgers or illegally claiming. The truth is this is a minority, when the majority really need them and many live hand to mouth. I don't particlarly like this sbloke, but what he says is correct on this occasion;
Funnily enough that’s also the position of a lot of people on the RW in the US ie benefits are in effect a subsidy for what are essentially unprofitable businesses. So the taxpayer is picking up a salary cost that should be paid by the employer.
My behind !! Absolute bunch of jokers a la Neil Critchley and Moan Utd !!
It does. It's the headline, 'LIZ TRUSS IS NOT FOR TURNING' followed by 'Liz Truss is not a leader easily buffeted by events if she thinks she is right.....'
Personally, I think most people had no issue with a ring fenced NI rise for the NHS. Agree with the rest.
So Starmer just stayed in there.
Reported 70 Tory MPs considering voting against the budget. Which meant Truss was dead in the water. This was listening to back bench revolt. She is holed below the water line.
Totally. Internal politics is the politics that always dictates what they do.
She’s clearly out of her depth, but maybe it’s best she’s clings on until the next election, despite the short-term damage this will cause.
