Pound tanking

tommytwojags said:
“Brace for the mother of all U-Turns on the mini budget today. A friendly person in the know is advising us to steer clear of the media today to avoid the explosion. We wouldn’t want to look silly by tomorrow.”

"U-Turn talk reminds me of this from a former minister I quoted on BBC Newsnight last night: “It is checkmate for the PM. Either she embarks on a screeching U turn on her tax cuts, which means she is finished politically, or she does nothing and then we are finished politically”

This reporter is either really really good or miles off the mark. Since none of his predictions appears to have any basis in reality at the close of play today and the Chancellor says there will be no u-turn going forward it looks like the latter.
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Impeccable timing.

t.co

Kwasi Kwarteng says ‘let’s see’ on tax cut U-turn

Chancellor does not rule out increasing corporation tax
t.co t.co
 
Kurtan said:
This is why the country needs constitutional and electoral reform. If Labour do get a majority I hope they enact positive changes to the system.
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They'll revel in FPTP thinking the good times will never end and you know it.
 
foggy said:
Ah so saying you would not raise corporation tax quite emphatically and then deciding you will isn't a U-turn. I've heard it all now.
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Nobody has suggested CT will go up by more than 1% or 2% and that would be in the next Budget if at all. Is that a "screeching u-turn" on the original proposal to cancel the proposed 6% rise? Is that what Nicholas Watt warned us to steer clear of today to avoid a political explosion?
 
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tommytwojags said:
Nobody has suggested CT will go up by more than 1% or 2% and that would be in the next Budget if at all. Is that a "screeching u-turn" on the original proposal to cancel the proposed 6% rise? Is that what Nicholas Watt warned us to steer clear of today to avoid a political explosion?
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Yes it is a U-turn to say you are freezing corporation tax and then raise it.
 
foggy said:
It's raising coproration tax when you said you wouldn't
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Yes, a massive U-turn.

Then : 'Reducing corporation tax accelerates growth so we are not going to increase it.'
Now : 'We are going to increase corporation tax as we are looking to grow the economy.'

Looks to me like their growth* policy is shot to threads.

* Truss definition of growth = growth in income for the top 5 %
 
bollieboy said:
Yes, a massive U-turn.

Then : 'Reducing corporation tax accelerates growth so we are not going to increase it.'
Now : 'We are going to increase corporation tax as we are looking to grow the economy.'

Looks to me like their growth* policy is shot to threads.

* Truss definition of growth = growth in income for the top 5 %
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Growing the pie.

It's so stupid. despite the infantile 'Anti growth coalition' tag line every political party is in favour of growth. It is how you achieve it that is debateable.

It can be argued that Truss is anti-growth. A very simple way of stimulating the economy would be to join the single market which Truss would not consider. This would give us an instant boost of about 4-5% and would also solve the labour shortage (which negatively effects growth). This one step would be far more effective than all of the measures in the disastrous mini-budget and we could afford to do it.
 
Kamikaze is flying back from the US, to be no doubt thrown under the bus again, can MisTrust survive or are inner circle plotting a rule change & get rid of both of them. It would be laughable if it wasn't so serious & affecting all of us.
 
ElBurroSinNombre said:
Growing the pie.

It's so stupid. despite the infantile 'Anti growth coalition' tag line every political party is in favour of growth. It is how you achieve it that is debateable.

It can be argued that Truss is anti-growth. A very simple way of stimulating the economy would be to join the single market which Truss would not consider. This would give us an instant boost of about 4-5% and would also solve the labour shortage (which negatively effects growth). This one step would be far more effective than all of the measures in the disastrous mini-budget and we could afford to do it.
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I thought we couldn’t join the single market without rejoining the EU full.
 
Matesrates said:
I thought we couldn’t join the single market without rejoining the EU full.
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There was this thing called brexit, i imagine you read about it in the news.

Well 51% of the electorate voted "for" brexit even though nobody knew what brexit was.

After they'd agreed that brexit was a good idea, the most extreme and damaging version of it was decided as "real" brexit.

This meant that we couldn't stay in the single market, as that wouldn't be a "real" brexit.

As a bonus all the moderate well thinking politicians who didnt like brexit decided to retire leaving only ideological zealots and narcissists

And here we are.......
 
Foolweary said:
There was this thing called brexit, i imagine you read about it in the news.

Well 51% of the electorate voted "for" brexit even though nobody knew what brexit was.

After they'd agreed that brexit was a good idea, the most extreme and damaging version of it was decided as "real" brexit.

This meant that we couldn't stay in the single market, as that wouldn't be a "real" brexit.

As a bonus all the moderate well thinking politicians who didnt like brexit decided to retire leaving only ideological zealots and narcissists

And here we are.......
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Never heard of Brexit
 
tommytwojags said:
“Brace for the mother of all U-Turns on the mini budget today. A friendly person in the know is advising us to steer clear of the media today to avoid the explosion. We wouldn’t want to look silly by tomorrow.”

"U-Turn talk reminds me of this from a former minister I quoted on BBC Newsnight last night: “It is checkmate for the PM. Either she embarks on a screeching U turn on her tax cuts, which means she is finished politically, or she does nothing and then we are finished politically”

This reporter is either really really good or miles off the mark. Since none of his predictions appears to have any basis in reality at the close of play today and the Chancellor says there will be no u-turn going forward it looks like the latter.
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I'm sorry to inform you that your chancellor has just been sacked
 
tommytwojags said:
Nobody has suggested CT will go up by more than 1% or 2% and that would be in the next Budget if at all. Is that a "screeching u-turn" on the original proposal to cancel the proposed 6% rise? Is that what Nicholas Watt warned us to steer clear of today to avoid a political explosion?
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😀
I recall you condescendingly mocking posters on here with regard to their views on the government’s economic plan - how could a bunch of football fans possibly know more than the highly qualified and super-intelligent Truss, Kwaseng and other members of their doomsday cult?
Looks like the AVFTT rabble were right all along - yet again!
 
L’étranger said:
😀
I recall you condescendingly mocking posters on here with regard to their views on the government’s economic plan - how could a bunch of football fans possibly know more than the highly qualified and super-intelligent Truss, Kwaseng and other members of their doomsday cult?
Looks like the AVFTT rabble were right all along - yet again!
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But she was an economist for Shell Lost Seasider told us
 
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 probably think they can ride the storm and all the thickos will forget the last 10 years of miss management.

But.. lets not forget, you've stuck up for them, through thick and thin over the same period.
 
L’étranger said:
😀
I recall you condescendingly mocking posters on here with regard to their views on the government’s economic plan - how could a bunch of football fans possibly know more than the highly qualified and super-intelligent Truss, Kwaseng and other members of their doomsday cult?
Looks like the AVFTT rabble were right all along - yet again!
Click to expand...

Cheers for that. I'll know where to go the next time I need financial advice. My accountant charges far too much anyway 😉
 
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