Pound tanking

traffordtang said:
I think this must be the most chaos ever created by a new government in such a short space of time. And the worst of it is the public have not even elected Truss. She’s been elected by the exact same people who are now benefiting from her policies.
And we’re supposed to be a democracy.
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It really does highlight the absurdity of being able to have a new PM without general election. This is a completely new government, that gave absolutely torn up the manifesto the current Parliament was elected on, and are embarking on a disastrous course of huge policy changes. There is no mandate, the system need to change.
 
Does this Tory government really know what it is doing?
A blatant approach to appease it's masters, THE RICH.
How long will Truss last?
I think she'll be 'all trussed up' very soon.
 
Looks like Truss has been put in to Royally feck it up and pave the way for Boris to come back.
 
traffordtang said:
I think this must be the most chaos ever created by a new government in such a short space of time. And the worst of it is the public have not even elected Truss. She’s been elected by the exact same people who are now benefiting from her policies.
And we’re supposed to be a democracy.
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And it still took 5 weeks of bullshit discussions for 150k+ Tory members to cast their votes, what a clusterfuck this has all become!
 
People voted to damage their own economy based on packs of lies promoting false ideologies.

Have we reached the point yet where people are personally feeling and experiencing the negative consequences to such an extent that there is enough appetite for correcting the situation?
 
The pressure is rising, mortgage lenders pulling mortgage products, which will have a negative impact on the housing market.
 
BigHandsOliverKahn said:
People voted to damage their own economy based on packs of lies promoting false ideologies.

Have we reached the point yet where people are personally feeling and experiencing the negative consequences to such an extent that there is enough appetite for correcting the situation?
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I voted this government into office in 2019... I did not vote to damage our economy... pathetic comments...but I did not vote for Liz Truss and her dramatic economic gamble or her gift to the high rate tax payer, I would welcome the chance to do so.
 
Don't be silly lads, it's all the fault of the pandemic, Putin and the ship getting stuck in the canal. Nothing to see hear, God Save The King, oven ready deal, taking back control, rhubarb, blah blah, fishcakes.
 
The question is, what on earth do the tories do now? They can’t call a general election because they’d be slaughtered and they surely can’t have another leadership contest. Could there be a coup within the Conservative party, and if so, would it be legal?
 
Matesrates said:
The question is, what on earth do the tories do now? They can’t call a general election because they’d be slaughtered and they surely can’t have another leadership contest. Could there be a coup within the Conservative party, and if so, would it be legal?
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Wouldn't be surprised to see some Con MPs defect to Labour - when Johnson was in his dying days it was rumoured that 5 MPs were in talks with Labour - I can't imagine that the one nation and red wall Tories are very happy with what we are seeing ATM. Another leadership election would look stupid so soon and a general election would result in a defeat. But we have ideological nutters as chancellor and PM who are trying to take the markets on which can only end in disaster - remember the ERM fiasco. Crazy days.
 
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Newholland said:
I voted this government into office in 2019... I did not vote to damage our economy... pathetic comments...but I did not vote for Liz Truss and her dramatic economic gamble or her gift to the high rate tax payer, I would welcome the chance to do so.
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There was more than enough evidence by 2019 to show the damage that party was causing this country. If voting for packs of lies in 2016 wasn't bad enough, voting in the same individuals again in 2019 was frankly inexcusable.
 
Matesrates said:
The question is, what on earth do the tories do now? They can’t call a general election because they’d be slaughtered and they surely can’t have another leadership contest. Could there be a coup within the Conservative party, and if so, would it be legal?
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They need to solve the immediate currency crisis for starters.
Maybe another interest rise would help with that in the short term, but not at no cost to their reputation and political standing, or indeed to mortgage holders and house renters etc. People have short memories though.
Will their MP’s vote down the budget perhaps ?
Maybe Kwarteng will be encouraged to fall on his sword, or be sacked, so that Truss can have a relaunch of sorts?
I imagine Boris or Sunak supporters will be out on manoeuvres before long.
 
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Hazi said:
Looks like Truss has been put in to Royally feck it up and pave the way for Boris to come back.
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Truss was elected by the Colonel Buffton-Tufton types and their golf club buddies in the shires. They'll be getting their 5% tax reduction 'thank you' next April.
 
glasshalffull said:
They need to solve the immediate currency crisis for starters.
Maybe another interest rise would help with that in the short term, but not at no cost to their reputation and political standing, or indeed to mortgage holders and house renters etc. People have short memories though.
Will their MP’s vote down the budget perhaps ?
Maybe Kwarteng will be encouraged to fall on his sword, or sacked, so that Truss can have a relaunch of sorts?
I imagine Boris or Sunak supporters will be out on manoeuvres before long.
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They already are, well Sunak supporters are at the very least
The trouble for Conservatives is that any leader has to be voted in by the party membership of what are generally radicalised pensioners who hark back to the 'golden' era of Thatcherism.
 
1966_and_all_that said:
Truss was elected by the Colonel Buffton-Tufton types and their golf club buddies in the shires. They'll be getting their 5% tax reduction 'thank you' next April.
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And none of them have to explain why they voted for her and her policies because let’s face it she made it quite clear what her intentions were.
Theyre getting exactly what they voted for and are completely culpable in this mess.
 
ElBurroSinNombre said:
They already are, well Sunak supporters are at the very least
The trouble for Conservatives is that any leader has to be voted in by the party membership of what are generally radicalised pensioners who hark back to the 'golden' era of Thatcherism.
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I imagine most are regretting their decision to vote for Liz Truss already, and might like another go at it before too long.
 
BigHandsOliverKahn said:
There was more than enough evidence by 2019 to show the damage that party was causing this country. If voting for packs of lies in 2016 wasn't bad enough, voting in the same individuals again in 2019 was frankly inexcusable.
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Speaking frankly, that’s your opinion, you’re entitled to it ...think it’s best to leave it there.
 
ElBurroSinNombre said:
He was right


https://twitter.com/x/status/1574332512800833537
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Really not understanding your like of Sunak EBSN. The guy has literally created the problem we're in. Was loving it as 'Dishi Rishi' and printing furlough cheques left, right and centre. Increased the total amount of £ in circulation (inflationary obvs) by roughly a 1/3 (is that right?). Then starts going on about fiscal responsibility. He's a daft goon who thinks he's too clever for his own good but is passable as a competent politician. Am I missing something?
 
rockontommy said:
Really not understanding your like of Sunak EBSN. The guy has literally created the problem we're in. Was loving it as 'Dishi Rishi' and printing furlough cheques left, right and centre. Increased the total amount of £ in circulation (inflationary obvs) by roughly a 1/3 (is that right?). Then starts going on about fiscal responsibility. He's a daft goon who thinks he's too clever for his own good but is passable as a competent politician. Am I missing something?
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Not getting into COVID spending but he really had no choice once lockdown policy was formulated (by Johnson) and did a good job in keeping businesses and families afloat. I am sure that his instinct is against state intervention except when necessary.
I am no Tory but I would prefer him to Truss any day of the week and more importantly so would the markets. Truss has caused the markets to crash, has just added £'s to everyone's mortgage and bills (oil price will rise as a result of £ / $ collapse pushing inflation further). All in the name of throwing money at the already rich. It's a complete shit show. Sunak would have cut taxes when we could afford to do so without unsettling the markets, far more preferable IMO.
 
ElBurroSinNombre said:
Not getting into COVID spending but he really had no choice once lockdown policy was formulated (by Johnson) and did a good job in keeping businesses and families afloat. I am sure that his instinct is against state intervention except when necessary.
I am no Tory but I would prefer him to Truss any day of the week and more importantly so would the markets. Truss has caused the markets to crash, has just added £'s to everyone's mortgage and bills (oil price will rise as a result of £ / $ collapse pushing inflation further). All in the name of throwing money at the already rich. It's a complete shit show. Sunak would have cut taxes when we could afford to do so without unsettling the markets, far more preferable IMO.
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Fair play. It just feels like if it were a game of Kerplunk, Sunak has pulled ten straws out of the game and is now crowing that the marbles are going to fall. Yeah, we know cunty bollox - it's your fault.
 
rockontommy said:
Really not understanding your like of Sunak EBSN. The guy has literally created the problem we're in. Was loving it as 'Dishi Rishi' and printing furlough cheques left, right and centre. Increased the total amount of £ in circulation (inflationary obvs) by roughly a 1/3 (is that right?). Then starts going on about fiscal responsibility. He's a daft goon who thinks he's too clever for his own good but is passable as a competent politician. Am I missing something?
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I know someone who got £30,000 off Rishi for his business and is now going to fold it so he doesn’t have to repay it and then he’ll start again. Thousands and thousands are doing this
 
Matesrates said:
I know someone who got £30,000 off Rishi for his business and is now going to fold it so he doesn’t have to repay it and then he’ll start again. Thousands and thousands are doing this
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I know a few tradesmen who have done the same. Were bragging about planning to do it way back in 2020. When you've got people creaming billions pandemic profiteering, who am I to judge? Good luck to 'em.
 
The interest that the U.K. has to pay on its borrowings is now higher than Italy and Greece.

So the markets think we’re more likely to default on the repayment of debt than either of those countries.
 
Mexboroseasider said:
The interest that the U.K. has to pay on its borrowings is now higher than Italy and Greece.

So the markets think we’re more likely to default on the repayment of debt than either of those countries.
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I was going to post this yesterday - Truss and Kwartang are either completely blinded by dogma, completely incompetent or (worse still) secret disaster capitalists currently making a fortune somehow. They are turning the UK into a basket case economy in double quick time, we are now considered a worse bet than either of those two. The trouble that Italy faces (IMO) is that their debt is so big that the European central bank basically sets their fiscal policy. This feeds into frustration in the electorate as no government can do what they promise as bankers stop them. This in turn has lead to a fascist as the Italian PM. So much for taking back control.

Are they deliberately trashing the economy so that the NHS has to be privatised? As FY8 says on the other thread, the promised supply siide measures to be announced in November = swingeing cuts to public services which are already on their knees.
 
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What I don’t understand is why she got a mandate to lead the party from the majority of the Tory MP’s when they knew this was the tax policy she was going to introduce ???

Riddle me that ( love that saying, only came onto my radar this year 😄)
 
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