all of sudden being blamed

It isn’t. It is exactly what everyone expects given everything that is going on right now. A crazy time to announce unforgivable policies.

Mini-Budget measures will likely increase inequality, says global lender

Bleedin-ell, even the purveyors of global austerity who traditionally couldn’t give a toss about the devastating consequences of their brutal policies which they impose on struggling governments doesn’t approve of Kwertang’s mini budget because it “will likely increase inequality”. That says it all really.

Although presumably the IMF would have been happier with a “balance budget” in which tax cuts were funded by cuts in government spending.

Hasn’t someone told them that will come later?

conspiracy theory is *someone* out there playing the markets and shorting the pound to collapse the economy….?

No, it really is that the country has been run by utter ****-wits for the last 12 years, but since it took total leave of its senses in June 2016, where we are today was surely an inevitability?

It’s not a conspiracy. It’s just good, old-fashioned stupidity

And it’s going to get waaay worse than this too. Have you seen who the prime minister is?

We’re facing an absolutely enormous crisis and we’ve got someone nominally in charge who is out of her depth on a wet pavement

DT78
Free Member
whilst I think the budget seems crazy I can’t see why it’s all of sudden being blamed for crashing the pound and needing emergency rate rises

conspiracy theory is *someone* out there playing the markets and shorting the pound to collapse the economy….?

There’s a lot of people online making some compelling arguments that this is deliberate disaster economics that has made a lot of money for some Tory donors. With Truss though, I do believe it’s mostly/entirely ideologically driven. Which is scary.

These days, its entirely possible I suppose. The party is riddled with corruption and a quick phone call could have made hundreds of millions for the “lucky”.

@DT78 two things at play. 1. the international currency investment markets don’t trust the British governments ability to pay down its debts, so it then doesn’t trust the pound and buys dollars instead.
2. City speculators bet against the pound, in turn weakening it further whilst they made a boatload. No conspiracy, they’re just bastards who will damage the economy in the long term to make a short term gain. They now also don’t get their bonuses capped for doing this so win win for them

Although presumably the IMF would have been happier with a “balance budget” in which tax cuts were funded by cuts in government spending.

They have been clear that they think that the tax cuts for high earners should be ”reconsidered”.

Any sign of George Soros yet?

This, from 2012, is the roadmap for what they seem to be attempting now. The young guns of aggressive neoliberalism are now running the joint.

https://www.theguardian.com/politics/2012/aug/22/britannia-unchained-rise-of-new-tory-right

The basic premise is to pursue economic conditions which set the scene for a severe contraction of the state, including its welfare protections. Check out the Mark Littlewood (IEA) quote.

These think tanks stopped mincing their words some years ago – you had the likes of the Taxpayers Alliance, a kind of Daily Mail version of the IEA, suggesting a few years back that winter fuel allowances should be scrapped because the old folks weren’t going to live long anyway.

It is extreme free market economics, and while a neutral onlooker might view this week’s events as a disaster, it’s actually possible that they are terraforming the economy to justify their next move on November 23.

Civil service pension is not invested either – it would be illegal if it was a private scheme..

It wouldn’t be illegal if the liability is backed by the entity thats prints the currency, the safest thing a defined benefit pension fund can be invested in is gilts.

City speculators bet against the pound, in turn weakening it further whilst they made a boatload. No conspiracy, they’re just bastards who will damage the economy in the long term to make a short term gain.

This is so ironic, given its been the tories at the heart of this problem. Thats pretty much what their party stands for.

So when does Truss come out of hiding & fire her ex lover?

My brother has an appointment with mortgage brokers tomorrow as they were planning to move in the spring, his current deal runs out in January

The damage done by the Tories/IEA with austerity/brexit/mini budget ought to rule them out of office for a generation

🚨 Moody's rating agency tonight warns the UK's new fiscal policy regime is "credit negative".
"A sustained confidence shock arising from market concerns over the credibility of the government's fiscal strategy…could permanently weaken the UK's debt affordability" pic.twitter.com/dCwsnfCxyc

— Mehreen Khan (@MehreenKhn) September 27, 2022

So it’s going to be a brutal 5 year plan for austerity….

Yeah just what the country needs 😳

New – ⁦@KwasiKwarteng⁩’s new fiscal rules – out in Nov – will aim to have debt falling within five years, the end of the OBR forecast period. Implies tough spending controls for years to come. Meanwhile IMF on UK-watch; BoE rates forecast to top 6% https://t.co/iooPe4qP5l

— George Parker (@GeorgeWParker) September 27, 2022

kimbers
Full Member
So it’s going to be a brutal 5 year plan for austerity….

My son joined the fuzz a while back…. I’ve been telling him that he is likely to be facing large scale civil unrest over this governments policies.

He’s still in training but been told that riot control is now treated as a higher priority than it was in the past.

Frankly the country is sick of austerity to put it politely. Particularly as it will be “necessary” to pay for the tax break for the wealthy.

This won’t and well.

TBF, if you ever doubt that the tories are incompetent, it’s the running down of the police that should seal it. Not just because it’s a stupid idea, but because they’ve deliberately put the country on a course where mass disorder is more likely than it’s been since the 70s, and also criminalised much more of the outlets of frustration. When you look at most right wingers, they reinforce this sort of power structure- not just in numbers but with glowing support. But even a force as shitty as the Met now can’t be relied on as a private army as it once was.

Forget the pound, interest rates, bonds etc. This is all about setting the scene for a massive reduction in public services, freezing spend in the NHS,Police, Fire, Education etc.

This is not an unfunded bung, they just haven’t given us the bad news yet.

This is a small state project. These **** have a very big ambitions.

^^ I think you are right and it terrifies me to be honest.

A moment on tv years ago always stuck in my head, an interview with an economist that first coined the term “Brexit”.

He said he saw it as the start of an attempt to change the UK from a welfare state to a free market economy.

It’s always been the plan, especially with the NHS and the Welfare State. The rest of the world looks at those two parts of the UK and holds it up as a model of what can be achieved whereas the current lot look at the US system and think “Hmm, that’s a better model as we can make money out of that!”.

It’s all playing out perfectly for them but abysmally for us.

Ah well at least you didn’t have to wait long to see the economic skill of the Truss government and what your getting 🙂

As said her aims are in a book written down.

Still happy days for the furrigners who can now buy up more U.K. assets at a rock bottom price.

Going to be an interesting ride to see exactly what gives first and how they bounce her out.

Redwood on R4 to paraphrase “cuckoo”

“IMF are wrong and it’s probably their fault. This is much better than anything that went before.”

so how long till the next GE? 2years?

will labour be any better if they get in then? Will there be a economy left?

the shorting of the pound should be banned. the people and companies doing that are already swimming in cash and its making the whole situation worse for the country. Its like when people deliberately pick a stock and try to crash it to buy it out. was there some reddit group that cottoned on to this with a gaming company and collective caused a massive problem by buying shares. maybe the British public, well those not freezing and soon to be starving should be shown how to shore up the pound collective to stop these bastards?

Redwood on R4 to paraphrase “cuckoo”

Redwood is madder than a bucket of spiders. It’s staggering that one man can be so consistently wrong about absolutely everything and terrifying to think that Truss actually listens to nutters like him.

What we’re witnessing is the continuation of the Brexit Disaster Capitalist project. They want to burn it all down, the NHS, the welfare state, the lot, and turn us into some Ayn Rand dystopia

will labour be any better if they get in then?

Seriously… give your head a wobble. The ‘they’re all the same’ narrative the Tories have aggressively pushed is half the reason we’re in this mess in the first place

A moment on tv years ago always stuck in my head, an interview with an economist that first coined the term “Brexit”.

He said he saw it as the start of an attempt to change the UK from a welfare state to a free market economy.

Back around the circle to the same place:

“Brexit isn’t the destination, it’s the vehicle”

If you voted Leave in 2016 or Tory in 2019 take responsibility for screwing up the lives of ordinary* folk, I just hope that it impacts you and your family more than mine #karma.

* – basically anyone who has to work for a living and/or rely on ANY state provision of ANY service

I don’t remember thinking much better of blair and brown and that was mynonly experience of a labour government

they sent us to iraqi….I said I’d never vote for labour after that.

so that leaves any of the rest, who will never get in. my votes for green are just wasted

The FT has something to say to Atlanticists

This is sharp and devastating. "Truss learns the hard way that Britain isn’t America." https://t.co/kvISukiIMj pic.twitter.com/Ms8nQfeiBi

— Howard French (@hofrench) September 27, 2022

will labour be any better if they get in then?

As a very risk averse person, it is 100% a risk I am willing to take.

I don’t remember thinking much better of blair and brown and that was mynonly experience of a labour government

Then have a think about what the country would look like by now if this shower had got started with their ‘project’ 13 years earlier

If you think that the Labour Party would even contemplate something as insane as last Fridays debacle – borrowing huge sums to give tax breaks to the rich – then you’ve lost your grip on reality

Feel free to waste your vote at the next GE though, and enjoy another 5 years of Tory misrule 🙄

I don’t remember thinking much better of blair and brown and that was mynonly experience of a labour government

they sent us to iraqi….I said I’d never vote for labour after that.

Perhaps time to grow up a bit and do what’s best for the country?

Well I’m worried that Labour might do something even more daft. like commit us to war. like Blair did multiple times.

whilst the tories have screwed up the economy no doubt there are worse ways things could go.

maybe you guys have a think too. telling people to grow up is incredible patronising

(and I will 100% not be voting tory)

I don’t remember thinking much better of blair and brown and that was mynonly experience of a labour government

they sent us to iraqi….I said I’d never vote for labour after that.

so that leaves any of the rest, who will never get in. my votes for green are just wasted

I’m genuinely curious. Would you prefer you or any of your family turning up to a hospital today, or how they were performing under the last Labour government?

Would you prefer you or any of your family turning up to a hospital today, or how they were performing under the last Labour government?

Or a schools. Schools were significantly better funded then

To claim there weren’t serious failings with labour last time and forget the bad things that happened on their watch is almost as bad as people making apologies for the things the tories have done recently.

it seems the argument for voting Labour is “they can’t be any worse surely”

I’m asking really on what evidence?
I’m a voter looking for a party that will get us out of this shitstorm.

*Makes mental note to ignore @DT78 in future*

Working in the nhs from the major years to now, the only time it’s ever felt like anything the government was committed to was 97-2010. You can blame Blair for the Iraq war all you like, the tories would’ve done the same but they would have not invested in the nhs the way the Blair government did. A vote for any party that makes Tory government more likely is an act of self harm as far as I’m concerned. Things are worse than I can ever remember and will only get worse if we don’t get this lot out and keep them out. It is that simple.

Whichever constituency you live in, you vote for the party most likely to beat the Tories

It’s that simple

We need electoral reform ASAP. That way every vote counts, not the nonsense FTP we have now.
We need to get back to consensual politics where politicians work together to find compromise for the good of the whole country, not the adversarial politics we have now; fuelled by the right wing press as it sells papers.

seems the FTSE’s taking one for the team this morning after IMF marked Kwasi paper -2%

if you are a die hard labour voter, and your goal is to get your party in power *ignoring* or belittling floating voters isn’t going to get the goal you want.

honestly I would love to believe labour will make this all better. it would actually make it much easier.

most of what are see are people saying it was better before, and it can’t be worse. my view is, I’m not sure I need convincing. I felt vert strongly about unjust war and the fact Blair got away with it.

saying the tories would have gone to war is a unproven point, you don’t know, its like me saying labour would have committed brexit so they just as bad as the tories.

Honestly I despair of our system where basically you have to either vote red or blue. (or vote tactically to get some one out).

everything seems so broken at the moment

Well I’m worried that Labour might do something even more daft. like commit us to war. like Blair did multiple times.

I was 100% against the Iraq war but remember that the Tories voted for it too.

Working in the nhs from the major years to now, the only time it’s ever felt like anything the government was committed to was 97-2010. You can blame Blair for the Iraq war all you like, the tories would’ve done the same but they would have not invested in the nhs the way the Blair government did. A vote for any party that makes Tory government more likely is an act of self harm as far as I’m concerned. Things are worse than I can ever remember and will only get worse if we don’t get this lot out and keep them out. It is that simple.

Nurse since 1996 and the only time I’ve felt valued (and got a payrise above inflation) was during the Blair/Brown years.

I have never seen the NHS so hollowed out and we’re not into winter yet.

I’m a voter looking for a party that will get us out of this shitstorm.

Unfortunately, it’s a 2 horse race.

 I felt vert strongly about unjust war and the fact Blair got away with it.

Sure, but it was 20 years ago, and as others have said; Tories would’ve done the same (they voted for it).