As is always the case with this lot, it's party interests ahead of the country's. They've just taken the mother of all gambles with all of our futures to try and create some sort of feelgood factor ahead of the next election which they were clearly going to lose. Rather than thinking about the most sensible way forward for the country, they've chucked everything up in the air with a vague hope it comes off so they can cling to power for another five years. And still the narrative will be pushed and swallowed that they are the only responsible custodians for our economy. It's laughable, global events haven't helped but they've effectively driven us off a cliff since 2016.
Will it be lost on the moderately well off and middle classes that they got nothing from the tax cuts, so multi-millionaires like Jacob Rees Mogg could get a 5% tax cut? Of course people in the 40% should be graciously paying their taxes and doing their bit. But the threshold was lowered previously and you don’t have to be rolling in it to be subject to it. Taxation now makes no distinction between folk on 50k, who will struggle to buy a house on the South East and those on £5m or £5bn who will continue to snap up dozens of properties making the number of those renting from them greater and greater. Many people don’t mind paying tax, if it’s fair. This clearly isn’t.
Tufton Street are now in charge. Every senior adviser in Downing Street is an alumnus of one of IEA, Taxpayers Alliance, Adam Smith Institute. This project started with brexit. Well done, England.
If Johnson was bad then Truss is worse. It's clear that this group care about the top five per cent. They will saddle the nation with more debt, devalue the currency further (raises the cost of imported goods so any pitiful benefit from the tax cuts is already wiped out should you need any of these items and exporting thanks to Brexit will be harder) and this moron that masquerades as chancellor has as much nowse as a rotten lettuce. The only people that will benefit from this budget are the already super rich. The sooner this mob are voted out the better. It's make it up as you go along economics and trickle down garbage which has been conclusively shown never to work. All these greedy rich winkers will do is shovel more money offshore and their usual interests. That a windfall tax on the predicted £170BN of profits from the energy companies was not even contemplated shows who runs this government behind the scenes. Those wonderful right wing economic think tanks funded by guess who. The uber rich. Time for a revolution.
I wonder how those "red wall" voters, who voted for levelling up, feel now? I suspect "let down" doesn't even cover it. This money grab by the Tories for themselves and their friends has the feel of a government that are not expecting to re-elected. It's a chance for them to drop any pretence and just take what they can for the already well off before they get booted out.
The nation's had enough of experts, mate. I mean, what can these experienced economists possibly teach The Truss on such matters?
Of ADDITIONAL profits over and above the large profits they expect to make....it's an even more egregious bung than is at first apparent.
I hope Kwasi's got this right and money trickles down to the less well off in time for them to afford to put the heating on this winter
https://twitter.com/LBC/status/1573338564250804226?t=BbEyHMgyOcxxB8txgKsXtg&s=19 Tory Treasury Minister calls anybody who doesn't leverage their capital to make something of themselves "a plodder". This is what they think of people who just want to do an honest day's work.
I think you are crediting the average "red wall" voter with way too much intelligence. They weren't bright enough to realise that Brexit was economic suicide for the nation, so why should they not be taken in by the current regime's "experiment"? I haven't seen any footage of this morning's mini-budget statement in the HoC yet. Were all of the Tory backbenchers whooping and cheering or was there the odd glum face? If I was a Sunak supporting "Red Wall" MP, I would be seriously wondering how the leadership had managed to get the party into a position where the famous 80 seat majority already looks like it belongs in the history books........
What an absolute pillock. Dodges the question about how you're supposed to invest when you have no money, and then goes right back to how you should invest instead of letting it sit in the bank. If you have no money there's, er, no money in the bank either...
I think a few words will tip the balance. Namely this is a budget for the rich and an insult to the general working person. This is the Tories on the path to losing the next election comprehensively. While Thatcher like Truss loved to demonize the working class and unfortunates in society as somehow being a burden she still maintained a high enough top rate of tax and like most Conservative governments was careful about publicm spending and reserves. This idiotic fool (I'd like to use harsher language) is borrowing money left, right and centre in part to fund tax cuts when the obvious sane option is for example to implement windfall taxes. When Starmer and company get into number ten then one of the first things they must do is nationalize the utilities. It's been a disgrace. Privatization is always best is the mantra. Really ? It's best for the uber rich where most of the profits go.
As below (almost): For decades, we have been too focused on how we divide the pie and not enough on growing it. The PM and Chancellor are 100% right to change that with their Growth Plan: Tax cuts for all Energy support for people and business Business investment unleashed Lloyd is a legend
Hopefully not before they get the single market application into Brussels - just think what a boost that would give to the UK economy......
Ah, but young Kwasi told the BBC that he "doesn't comment on market movements". I’m sure he has enough integrity to stick to that pledge when at some point in the next 18 months the corpse twitches and the markets move upwards for a spell.
He probably likes to make comments about his bowel movements. They;ll be twitching right now. Meanwhile another cahunt Richard Fuller. Ancestors walked in urine quite possibly. Richard Fuller, a Treasury minister, raised eyebrows by arguing that the chancellor’s tax cuts would encourage young people in their 20s earning around £26,000 a year not to go down a “plodding path” in their career but to go into business. He told LBC said it was about “risk and motivation” and those in their mid 20s should think about being more successful and keeping more of their money, as well as “taking that risk and not doing the plodding normal thing”. Asked what plodding looks like, he said it was about not “being idle with your cash” and looking for a good return. He said the growth plan was about helping people think about “doing something with your life”. Fuller said: “Back when I was 25, ironically, it was about the time we had a Conservative government that was looking to cut taxes. What I felt then is that this meant an opportunity for me. “This meant if it took a risk with the way I wanted to run my career, I didn’t go down the plodding path of just step by step. That I would have a government that was on my side. It encouraged me to look at things like venture capital and look at ways to grow a business... If you’re 25 and see an opportunity, the government will get out of the way and do what it can to enable you to take up an opportunity.” Don't be a plodder. Don't be idle with your cash. Don't train to be a teacher or a doctor or a social worker or enter a profession. Go into business instead. All businesses succeed and give you a good return. Richard Fuller knows about taking risks. Richard Fuller lost his Bedford seat in 2017 to Labour and then was parachuted into a safe Tory seat at the 2019 election. Don't be a plodder. Be like Richard the risk taker.
And to leave Labour an appalling toxic legacy which it’s hard to even see where best to start cleaning up.
Yep. And the Tories in opposition will attack Labour's poor economic management when the Labour government have to raise tax to pay for the debt and invest in the underfunded public services that the Tories have left them. The sad thing is that too many will fall for it and vote Tory again in the following election!
To get into power, Labour will have to promise not to touch the wealthy in case they are carpet bombed for months before the election with headlines like the Politics of Envy! Labour spite against achievers! Labour will tax your baby!
Fundamental national infrastructure should never be 'privatised'. I mean, what could possibly go wrong? 5h1t in the rivers & oceans? Rail services that ensure a significant % of 'connections' are timetabled 5 minutes too late to actually, er, connect? Pity Sid weren't deaf.
I'm not saying that the bloke's a throbber but in 1987 he was not going "...down the plodding path of just step by step..." but doing an MBA at Stanford (according to wiki which is probably autobiographical).
