MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
I imagine the OBR (and everyone else) will be gushing with praise for Kamikwasi’s economic genius
Either that or they’ll see it as cobbled together load of uncosted libertarian bollocks, scrawled on the back of fag packet and the pound will go into freefall agin
Hmmmmmm… I wonder which it will be…
The issue surely isn't so much whether his debt plan will reassure but at what cost?
Well of course mols. My definition of wokism is quite different to the definition used by some on here.
For many on here being “woke” means being against bigotry and prejudice. For me, and a very significant share of the electorate, it means pissing about the English language.
Same as molgrips I would not think of you as racist or bigotted.
But within your definition, as opposed to more official ones, where do it start and end?
My mum uses 'P*ki shop' and says it's PC gone mad when someone challenges her.
A bloke in our pub stated quite openly that another pub had 'a coon working behind the bar'. Went on to say 'he seems a nice, friendly lad'.
Neither were said with malice but I consider then both to be offensive rather than just working class folk just using the wrong words.
Mind you, I did do the second half of my diploma at a university.
See what I mean?
Yes, but you won't be surprised to learn that I don't necessarily agree.
So let's stick to talking about that stupid woman Liz Truss 😉
I am sure that there are more important things to get upset about than being called an idiot bigot/racist.
With the exception of been physically harmed, I'd be devastated to be accused of this, and proven that I was.
But then I'm 'woke' I guess.
Yes, but you won’t be surprised to learn that I don’t necessarily agree.
I think you should do more listening.
Just read this opinion piece in the Manchester Guardian. Typical leftie article thinks I, until i got to the bottom of it and spied the author's paying job. 😵💫
I think her next job might be as one of Santa's elves in an Oxford Street Christmas grotto.
So let’s stick to talking about that stupid woman Liz Truss 😉
Its actually quite difficult because in between a handful of massive calamities she's not really saying or doing much 🙂
I think you should do more listening.
Oh that's nice, I actually went through the effort of reading your rather long-winded post precisely because I thought you deserved the courtesy of me doing so and you accuse me of not listening!
I did listen but I don't necessarily agree. I views are based on my lifetime's experiences, despite your obvious persuasive skills mols you are going to need more than just one post to change them.
I hear that Liz Truss is on a "charm offensive"
bbc.co.uk: Can Liz Truss's new charm offensive win over Tory MPs?.
https://www.bbc.co.uk/news/uk-politics-63198783
James Bowler now head of the Treasury with, no doubt, Sir Tom Scholar back as an "Advisor". Another volte face from Liz over the weekend. Who knew that appointing people with experience was a good idea?
My diAry
by Liz Truss
Oct 9
There's a horrid girl called Nicola in the other class. She may be good at Scottish dancing but that doesn't stop her being any less horrid. And that's not all: she keeps trying to get the rest of her silly little dance group to be against me too.
PS
I am writing it here in my diAry now: I will stop horrid girl Nicola's Scottish dance group from winning anything ever. Im going to the headteacher and show her the bit in the rules which says they cant compete anyway basically its cos theyre Scottish. So there.
M Rosen
Looks like the Bank of England are having to continue buying government gilts to shovel even more cash into the huge money pit that Truss and Kamikwasi are still digging
It’s almost as if ‘The Markets’ know that they have no idea of how to fund any of this beyond huge cuts to public spending which not even their own MPs, bar a few far right headbangers, will actually vote for
Bank of England expands bond buying to avoid ‘fire sale’
And how we look from Europe and the rest of the world, from a Dutch cartoonist
https://twitter.com/rloppenheimer/status/1578668591062609920?s=21&t=qVI-euP-oJTzeckF9yqdvg
The descent into international basket case started in 2016 continues at pace
they have no idea of how to fund any of this beyond huge cuts to public spending which not even their own MPs, bar a few far right headbangers, will actually vote for
Are you sure it's only a few far right headbangers that would actually vote for it?
"Mr Sunak risks repeating the ill-judged austerity of George Osborne from 2010 to 2015, when the Treasury pushed fiscal tightening too soon and beyond the therapeutic dose, undermining social cohesion and inflicting great damage on the constitutional fabric of the Union for no worthwhile purpose."
Edit: To be clear it's the word "few" that I am doubting.
Where's Rone telling us that everything is fine and none of us actually understand economics?
Where’s Rone telling us that everything is fine and none of us actually understand economics?
The recent splurge from the BoE on gilts proves what rone and myself have been saying all along. If we were wrong then the BoE wouldn't have spent those billions, the gilt markets would have crashed and your pension fund would have disappeared. Be glad that you were wrong. 😏
I can't recall rone ever "telling us that everything is fine".
I would ask you what are you talking about but I particularly dislike STWers being criticised when they are not on a thread and able to respond. I consider it a pretty low blow.
Perhaps rone is busy with stuff.
Edit: To be clear it’s the word “few” that I am doubting.
We’ve effectively got a hung Parliament at present. She’s already been told that enough Tory MPs (if only for reasons of self-preservation) simply won’t vote for huge cuts to public services, which is the only way this (present projected cost: 65 billion quid) can be funded. So there’s no way they can get any of this through Parliament
You’d have thought that her and Kwasi might have maybe sounded people out first but apparently that would represent ‘the traditional orthodoxy’
Where’s Rone telling us that everything is fine and none of us actually understand economics?
Guessing they can only try and explain it to you so many times and is probably having a rest from it as clearly still a struggle for you.
Looks like the Bank of England are having to continue buying government gilts to shovel even more cash into the huge money pit that Truss and Kamikwasi are still digging
It’s almost as if ‘The Markets’ know that they have no idea of how to fund any of this
The main problem (apart from underlying lack of regulation of the pension industry) is that the govt are resisting using the main tool available to control bond yields. That of course is QE, but I seem to remember that most of the MMT-deniers on here aren't overly keen on that because they think the govt has to 'balance the books'.
https://twitter.com/RichardJMurphy/status/1579722892665065473?s=20&t=--CJTf5GFvV73IZ255i4WQ
We’ve effectively got a hung Parliament at present.
Yup, that's a fair point. But the problem for Truss isn't simply that many Tory MPs won’t vote for huge cuts to public services, it's that they won't vote for huge cuts to public services from a government which despite the top rate U-turn has clearly outed itself as a government of the wealthy few.
There will be no Cameron/Osborne "we're all in this together" nonsense. The horse has bolted.
To add to the economic policy divisions the Tory will be further deeply divided over fracking and the Green Belt, two issues which will affect quite a few Tory MPs, if they want to be re-elected.
Doesn't she also suffer that most of the Con MP's sussed out she's an idiot a long time ago, but they got lumped with her anyway?
(Your misuse of the term 'woke' is silly, and doesn't help you, but that's a separate discussion)
that would represent ‘the traditional orthodoxy’
lets face it, the traditional type is nearly twice as orthodox as regular orthodoxy.
You’d have thought that her and Kwasi might have maybe sounded people out first
Including her own cabinet!
Two people, a couple of nebulous think tanks and a bunch of mates in hedge funds and tax havens came up with this.
(Your misuse of the term ‘woke’ is silly, and doesn’t help you, but that’s a separate discussion)
Thanks for bringing it up.
I use the term "woke" in the same way as millions of others do. If that displeases you I suggest that you stop using the American import 💡
I think you should do more listening.
Everything that’s wrong with stw political threads here^
Basically, you are utter dismissive of any opinion contrary to your own
Woke is just the latest way of Saying 'It's PC Gone Mad'

The world changes, people struggle to adapt to the fact that culture is dynamic
As with all culture war issues, if politicians/pundits/ think tanks can manipulate you into thinking your way of life is under threat, then you'll vote for them even if every expert under the sun is warning you their other policies: austerity, brexit, tax cuts for the rich.... Are bad for the country.
At some point reality will come crashing in though and as we are seeing with Truss even the most diehard Tories start to see behind the curtain
Two people, a couple of nebulous think tanks and a bunch of mates in hedge funds and tax havens came up with this.
They allowed a think tank who even most Tories regard as ‘out there’ to write policy for them, then they announced it with no consultation with anyone, causing economic carnage
Now they’ve painted themselves into a corner where nothing short of dropping pretty much all of their policy announcements will prevent another run on the pound and further economic Armageddon
Can anyone think of any politician from any party ever displaying anywhere near this level of reckless incompetence?
Given that Truss has been at ministerial level for years, she didn’t learn much, if anything, did she?
I’d love to hear from them how they imagined this was going to play in the alternative universe they clearly inhabit ?
I use the term “woke” in the same way as millions of others do.
So millions of people misunderstand it then, do you really want to be one of them?
Can anyone think of any politician from any party ever displaying anywhere near this level of reckless incompetence?
Not even close. Proper history book stuff.
A government and string of PM's the like of which we'll never see again. I hope.
The director of the IEA was interviewed on the news agents and effectively said tha<span style="font-size: 0.8rem;">t the things announced in the 'mini budget' were what they'd wanted and worked towards but that their delivery was such that those causes had been massively put back. Basically said that your policies can be bang on but the politics can completely f things up for you. What a shame...</span>
Wtf goes on with the text formatting on this site? 🙄
A government and string of PM’s the like of which we’ll never see again. I hope.
An unforeseen consequence of how the aftermath of the referendum played out. Capability within the Tory Party was replaced by ideological adherence to Total Brexit.
Add in the total unsuitability for public office of many of the Red Wall MPs who were never expected to win - such as Lee Anderson et al - and here we are. The whole thing made worse IMHO by the removal of the comparatively socially liberal Johnson and the arrival of the rabid Brittania Unchained Ultras that we now have.
I truly believe that after the next GE, we will never see anything this bad again.
I truly believe that after the next GE, we will never see anything this bad again.
I hope so. What's the opposite of 'grass is greener'? Sometimes you have to go and look over the edge of the cliff just to realise why you should stay back.
Is it correct that the current situation is due to the fear of a policy that hasn't been implemented yet, and is unlikely to due to the 'hung parliament' situation mentioned above.
In which case we're being saddled with debt for something that may not even happen? If so, that is truly disgusting.
More fiddling while Rome burns…
https://twitter.com/jrmaidment/status/1579783362600128514?s=21&t=P3pj9P-Gj9L3LBuhx6k16A
In which case we’re being saddled with debt for something that may not even happen? If so, that is truly disgusting
That’s what happens when you announce a policy costing 60 billion quid that you don’t have, and when asked how you’re going to fund that, the answer is “erm…. dunno. Something will probably come up…”
They really are totally ****ing clueless
Wheres George Soros when you need him.
I can see a run on the £ if this keeps up can some Tory MP,s grow a pair already and put her back in the WTF happened here box. Is there a prime minister questions this week?
basically said that your policies can be bang on but the politics can completely f things up for you.
It's all they've got left. Their longed-for 'hard libertarian' free market policies got a run-out, shit rained down (obviously), some of them made some money on the back of it, now it's either a choice of admitting your dearly-held fiscal philosophy is a sack of crap, or claiming that it wasn't 'done right'.
It's like the entire Brexit philosophy but acted out in a month rather than a decade. We've gone from the claims of sunlit uplands to 'This isn't the Brexit we voted for!' almost instantaneously.
More fiddling while Rome burns…
I'm confused, when I said a while back we should remove the independence of the BoE and bring it under democratic (ie political) control I was roundly criticised by the centrist cabal on here. But now that Liz Truss's govt are sticking rigidly to their view that what the BoE does is up to them, it's fiddling while Rome burns? Should the BoE be independent or not?
I don't think the idea is that this 'cabinet of all the talents' should take control of BofE functions, more that perhaps it is time for them to discuss how it might not be going well, and perhaps think about how they could, by their actions, calm the markets so the central bank doesn't have to be constantly intervening.
This is a crisis precipitated by a lack of market confidence in the fiscal competence of Truss and Kwarteng, and whoever is whispering in their ears. People are ditching UK plc assets because they think the current government is unhinged. And the government seems determined not to address its credibility problem, or even acknowledge it exists.
Is there a prime minister questions this week?
There is indeed. Expect blank stares, long silences and nothing that even remotely resembles a coherent answer to a question
I’m confused
It would appear so.
Do you not think that during the first cabinet meeting since they swanned off to Birmingham that the financial shitstorm you caused and the ongoing collapse in the currency might be a worthwhile topic of debate?
Also… ‘centrist cabal’?
Mate… have a word with yourself 😂
Is there a prime minister questions this week?
There is indeed. Expect blank stares, long silences and nothing that even remotely resembles a coherent answer to a question
I'm currently watching treasury questions on the BBC parliament channel and I wouldn't hold out any hope for a coherent answer from any of the tories, Kwasi kwartang has the air of someone who will never admit his mistakes. I don't know how those on the opposition benches can contain themselves as I would do that ****er serious damage.
I don’t think the idea is that this ‘cabinet of all the talents’ should take control of BofE functions
The one thing they should be doing is instructing the BoE to start a new round of QE to fund the bond buying to bring down the price of gilts. That's entirely within their power now, all it needs is a letter from the chancellor. Bank of England independence is an illusion. What we need to do is bring the decisions out into the open so we can full transparency and scrutiny rather than behind closed doors meetings.
Also… ‘centrist cabal’?
Mate… have a word with yourself 😂
You didn't get the reference? 😄
I use the term “woke” in the same way as millions of others do.
So millions of people misunderstand it then, do you really want to be one of them?
It has nothing to do with "misunderstanding" it has to do with its intended meaning.
Words change in many ways over time, including in meaning, acceptability**, etc, new words will also sometimes surface. You are not the guardian of the word "woke" and its meaning. The language police don't have a monopoly on what words are allowed to have a changed meaning.
For me, and many others, woke refers to idiotic nonsense which claims that saying "stupid man" is acceptable but that saying "stupid woman" is sexist and misogynist, whatever the word's original meaning.
**In terms of acceptability the word "coloured" is an excellent example. It was once universally thought that saying "coloured people" was highly polite and acceptable, saying "black" was considered very rude. Indeed to this day the United States foremost black rights organisation the National Association for the Advancement of Colored People (NAACP) still uses the term. Some people however, certainly on here, consider the term highly offensive and that you are pretty much a racist if you use it.
To further complicate matters for the self-appointed language police the acceptability of words, and indeed their meanings, varies through social stratas.
For example I regularly use the 'C' word as a term of endearment. For example, if the cat rubs his body against my legs I might bend down to pick him up and give him a quick cuddle whilst saying "come here you little ****".
Or I might refer to my brother as a "right clever ****". IME the 'C' word isn't universally also used as a term of endearment throughout all social classes. I struggle to imagine that David Attenborough would refer to his brother Richard as a right clever ****.
My use of the word woke chimes with other people's use of the word. If that upsets the likes of Jeremy Corbyn and anyone else on here then that really isn't my problem. If I can be relaxed and choose not to be offended by being called an idiot bigot/racist then you can handle my definition of woke.
Getting back on topic...... Kwasi Kwarteng and Liz Truss, what a pair of ****s. No term of endearment intended.
My use of the word woke chimes with other people’s use of the word.
You've completely missed the point.
binners Full Member
Also… ‘centrist cabal’?
Mate… have a word with yourself 😂
Indeed, call that hyperbole Daz? Have a word with yourself mate.
binners - show the man what proper hyperbole is. Give us a proper full-blown hyperbollox rant. I suggest that you use "Jeremy Corbyn and Lefties" as your subject matter 💡
Calling Binners: a few pages back you said this and it's been bugging me ever since...
"I don’t know if you watch Marina’s Supertankskii stuff, but she’s started referring to Truss as ‘Lynn from HR’"
Are you saying that Marina Hyde and Supertankskii are the same person? They do look similar?
Massive fan of Marina Hyde, she's a whisper of light in a shower of bilge.
I see that Fag Ash Coffey has given opposition politicians another reason to demand that the Tories should put their changing policies to the electorate:
The government had committed several times to publish a tobacco control plan “later this year”. However, the health secretary, Thérèse Coffey, does not intend to honour that promise, according to officials with knowledge of her intentions.
Coffey, who is also the deputy prime minister, smokes and has previously accepted hospitality from the tobacco industry. Since becoming an MP in 2010 she has voted in the Commons against an array of measures to restrict smoking, including the ban on smoking in enclosed public spaces, the outlawing of smoking in cars containing children and forcing cigarettes to be sold in plain packs.
I can't help wondering whether Liz Truss chuckled to herself when she decided to make Coughing Coffey "Health" Secretary.
Although Truss has never struck me as someone with a sense of humour, despite her apparent ability to take the piss.
Are you saying that Marina Hyde and Supertankskii are the same person? They do look similar?
they’re one of the same
Anyway… another day, another part of the 2019 manifesto goes out of the window.
Or is it hourly now?
From the Guardian just now, just in case any landlords were under the misguided idea that the government thought renters should have any rights…
No 10 confirms proposed legislation banning 'no fault' evictions could be shelved
The government has not ruled out scrapping long-awaited reforms to protect private renters from so-called ‘no fault’ evictions, a manifesto pledge, PA Media reports. PA says:
Downing Street said that no decisions had been made on whether to pause a promised ban on section 21 notices, which allow landlords to evict a tenant without having to give a reason.
It comes amid reports the government could move to shelve the 2019 manifesto commitment.
The prime minister’s spokesperson said today that the government would ensure that renters’ rights were protected.
The spokesperson said “no decisions have been taken on any further policies” but the Department for Levelling Up, Housing and Communities (DLUHC) was looking at the issue.
Asked specifically whether Liz Truss thought it was right to scrap no-fault evictions, he added: “No decisions have been made. This is something the secretary of state is considering in terms of how to improve the rental market. Clearly, ensuring a fair deal for renters will always remain a priority for this government
Ensuring renters rights by allowing landlords to boot them out for no reason, with no notice
I think dazh got the wrong end of the stick, the fiddling was being done by a cabinet who didn't bother discussing the situation or the BoEs warning.
That’s what happens when you announce a policy costing 60 billion quid that you don’t have,
Does anyone know if the £60 billion has been spent? A fairly knowledgeable mate indicated at the weekend that the BoE had made £60bn available, but up to that point "only" £5bn had been spent. I can't seem to find an answer.
Does anyone know if the £60 billion has been spent? A fairly knowledgeable mate indicated at the weekend that the BoE had made £60bn available, but up to that point “only” £5bn had been spent. I can’t seem to find an answer.
Two unrelated £60bns. Well one caused the need for the other, but no the BoE hasnt spent it (but is in the process of doing so) whereas Kwasi just doesn't want it, the Gov. has too much of our cash it seems.
just for the pleasure of it, in case it hasn't been posted already. It adds nothing to the discussion but it makes me feel a little better
https://twitter.com/simonwinkler/status/1578835949341270017
they’re one of the same
She's speaking on LBC right now...bizarre coincidence. 18:40...
A potential replacement for Truss appeared before a Lords committee today. Looking good so far.
https://www.bbc.co.uk/news/av/uk-politics-63221954
Long pauses before answering questions. ✅
Frequently needs a reset. ✅
Pulls strange expressions during said reset. ✅
It adds nothing to the discussion
What discussion?
On the subject of the BoE. Truss and Kwarteng are in good company with Andrew Bailey. The Uk economy is being managed by idiots.
https://twitter.com/richardjmurphy/status/1579921290693312512?s=46&t=xqSid82QHlLrBVHoMGtUvA
On the subject of the BoE. Truss and Kwarteng are in good company with Andrew Bailey. The Uk economy is being managed by idiots.
An idiot paid twice as much as his predecessor - presumably to make him do as he's told?
He used to be my boss...very much a yes man. Very uninspiring. Supported Brexit cos that was the way to get the top job.
I see that the first U-turn of the day is upon us and it’s not yet 9am
Ree Smug is presently on radio 4 explaining how the windfall tax advocated by Labour, that they’re about to levy on the energy companies - the one they said they definitely wouldn’t impose as it was anti-growth - isn’t actually a windfall tax at all
If it looks like a duck, etc…
The Haunted Pencil completely fabricating the truth on R4 right now. Now trying to disconnect the mini-budget from anything that's happened. Talking absolute shite.
I’ve never heard such utter horse-shit in my life.
None of this is anything to do with the ‘mini-budget’ at all
Of course it isn’t…
They really do think we’re all idiots, don’t they?
They really do think we’re all idiots, don’t they?
Trouble is they know enough of us are, that's why they come out with this tripe
They really do think we’re all idiots, don’t they?
I came to try and type something which was a bit more optimistic, to suggest they're just floundering along.
But do you know what, I can't say that. They've made deliberately awful decisions based on flawed and extreme ideology, plus keeping thier pals in the money.
Now they're applying all sorts of cover tactics and u-turns, while refusing to admit that they have done anything wrong or harmed anyone.
So yes, they are thinking we are stupid enough to not see through them.
🙁
The polling would suggest that it doesn’t appear to be working
As people watch their pensions shrink and their mortgages rise, I doubt they’ll buy Moggy telling that black is actually white and these things happening straight after Lizzie and Kamikwasi’s mini-budget is entirely coincidental
Apparently even the Mail is sticking the boot in to this flailing incompetence
https://twitter.com/Ian_Fraser/status/1579968380416970752
the Economist comparing Truss' govt with the shelf life of a supermarket lettuce
Nonsense. An iceberg lettuce will last considerably longer than that. Don't be fooled.
So PMQs. What are the chances of Starmer’s first question being ‘How’s it going Prime Minister?’. 😃
So PMQs. What are the chances of Starmer’s first question being ‘How’s it going Prime Minister?’. 😃
LOL! In the current situation Starmer should be given the chances to be the next PM. See if he can pull a rabbit out of the hat.
It actually is – you just don’t understand why. Calling someone stupid is not sexist, even though it is pretty thoughtless and generally unwarranted (we all do stupid things occasionally, but those who are genuinely unintelligent need support not insults). But when you tack on the word ‘woman’ you are combining the two words into something else which is indeed misogynistic. Why? Well, when was the last time you heard anyone called a ‘stupid man’? It’s not a common phrase. No, we usually see ‘stupid boy’ or ‘stupid girl’, but not ‘stupid man’.
I just did a google and according to google .. its almost like the only person to ever say Stupid Woman was Jeremy Corbin. Either way I don't think either myself or Ernie would feel like we use one over the other and frankly I'd use far more specific language for Boris or Truss?
... but lets continue ???
So is attaching a "she" pronoun misogynistic? Should we say of Teresa May (just using your example) he/she is stupid or do we need to then add it back if the person is some stage of transgender?
Ultimately you don't need to answer because ultimately what many people are sick of is keeping up with this weeks politically correct bollocks and that is what many refer to as "Wokism". Regardless of any pre-imported definition.
As Ernie said earlier it's an American import... so very much like my mate Linus who is from Benin and NEVER been anywhere near the American continent being told he is "African American".
He started off thinking it was funny ... explained to the African Americans telling him the above but really didn't get offended until they continued telling him and wouldn't let it drop.
So is attaching a “she” pronoun misogynistic? Should we say of Teresa May (just using your example) he/she is stupid or do we need to then add it back if the person is some stage of transgender?
If you're actually worrying about this
I'd stop watching GB news & go for a bike ride, plenty of actual things to be worrying about
Daz - re your earlier question as to whether the BofE should be independent. I'd say yes, but, and it's a big BUT, the implementation of a consistent economic policy means the government and BofE should be on the same page, In this case they're not - Kwasi Kwarteng is sure he's cleverer than everyone else in the world, and the BofE are cleaning up the mess as best as they can, as they clearly no longer have any regard for him.
Honestly I think it's a bit rich for Richard Murphy to chip in so... what does he think the Bof E should do? If they had continued to toe the government line exactly, as he suggests, you'd be a lot deeper in than you are now. You'd have some bankrupt pensions for a start
go for a bike ride, plenty of actual things to be worrying about
How ironic.
So "absolutely" no spending cuts......according to that daft woman Truss.
Except it doesn't need spending cuts if there is no increase in spending, inflation will take care of that.
Obviously the solution is more inflation!
what does he think the Bof E should do?
He's been very clear about what they should do. That they should use QE to control gilt yields and calm the markets. This would prevent pension funds collapsing, bring down interest rates, allow sterling to recover and mitigate the impact of the inevitable recession. As it stands both the BoE and the govt have their heads in the sand and are driving us towards depression because of their narrow minded neoliberal ideology.
https://twitter.com/RichardJMurphy/status/1580083601575907328?s=20&t=usEuRESgp_k9JLrGQdH7Wg
No spending cuts could also be taken to mean no increases. So no increase on benefits, public wages, pensions, department budgets, councils etc. Effectively still reductions that will impact many.
The present estimates of Kwasi’s recently created financial black hole vary between 45 and 65 billion quid.
You cant find that down the back of the sofa
That is simply completely unattainable through anything other than huge cuts to public services, across the board, and everyone knows it. Not least Kwasi and Liz
So Lizzie is either lying through her teeth when she said no cuts, or she needs to row back on Kwasi’s entire mini-budget.
Hmmmm…. I wonder which it is?
If you devalue the pound to zero you can borrow as much as like and never need to pay a penny back. Plus your mates in hedge funds will get mega odds on that, just make those bets in dollars though, lads, eh!
You cant find that down the back of the sofa
Yes you can. In 2008 they 'found' the best part of a trillion quid to throw at the banks. In 2020 they found 400bn to pay people's wages and support businesses. The question is not whether it can be done, it's where the money comes from and how to spend it. In this case they've chosen the two worst options, which is getting the money from borrowing, and then spending it on tax cuts for the rich. Had they decided to use QE instead, and invested it in public services and infrastructure and support for people struggling with their energy bills, then we would have had an entirely different outcome for the same amount of money spent.
