UK Conservative Party Leadership Election

ChopleyIOM

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BoE declares fresh programme of quantitative easing on 'whatever scale is necessary' to get UK government debt prices under control.

In simple terms this is the BoE creating brand new money (which it absolutely can do), and giving it to the government.

It's been done before (Covid and the 2008 crash), although whereas Covid and the 2008 crash were an international problem that the BoE+government had to respond to, we now basically have the BoE saving the UK government from itself.

Either way, this is a good thing, even if the reasons for it being required are bloody awful. (EDIT TO SAY - 'Good' as in the least worst option available, the least ruinous path to choose.)

THOUGHT EXPERIMENT - If absolutely any of this shit was going on under a Labour government.....

 

paul7388

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And chopley I see that the Chinese yuan has hit its lowest ever compared to the dollar.

So let's see. The Euro , yuan and other currencies are all dropping in value to the dollar. People everywhere around the world are investing in the dollar hence the reason it is getting stronger.

But hey you can keep posting about the fact that the pound is falling in value to the dollar seemingly oblivious to the fact that so is every currency out.

Starting to get to point why. After all you are in IOM and half the problems in Britain do not affect you. So why the obsession every day to post blinkered biased sources from articles you read showing all these faults about UK whilst ignoring the fact every country is the same until pushed to agree.

For someone that is obviously intelligent it is beginning to seem like you are actually trolling and looking for a reaction. As can not see a reason why you need or want to spend so much time trying to prove how bad UK is whilst seemingly ignoring every other country.
 

pinnit2014

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And chopley I see that the Chinese yuan has hit its lowest ever compared to the dollar.

So let's see. The Euro , yuan and other currencies are all dropping in value to the dollar. People everywhere around the world are investing in the dollar hence the reason it is getting stronger.

But hey you can keep posting about the fact that the pound is falling in value to the dollar seemingly oblivious to the fact that so is every currency out.

Starting to get to point why. After all you are in IOM and half the problems in Britain do not affect you. So why the obsession every day to post blinkered biased sources from articles you read showing all these faults about UK whilst ignoring the fact every country is the same until pushed to agree.

For someone that is obviously intelligent it is beginning to seem like you are actually trolling and looking for a reaction. As can not see a reason why you need or want to spend so much time trying to prove how bad UK is whilst seemingly ignoring every other country.
Just be grateful we’re not hearing about the Hungry Children today

Take the win
 

goatwack

No deal, tramp
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Further to that, the Dollar's strength has been telegraphed for months now as it ascends and trounces all and sundry.

This month, more so. But still, it's a problem not beholden to the UK alone

mo money mo problems.jpg
 

Siohmy

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Blighty
Dollar may be a bit of a juggernaut at the moment but the pound has lost major value against pretty much all major currencies in the last 2-3 months.

Whilst Chopley maybe pushing the point a bit I find the dismissal of a lot of what he says on here a bit surprising.

Labour may not be the answer but they, along with seemingly everyone who knows something about economies, agree that what this government is doing goes beyond the usual “we don’t agree with you because we’re not meant to” line.

One thing appears certain if they stick to the cuts and that is everyone outside the very wealthy will be worse off and many in big trouble as any cuts will be eaten up, and then some, with unaffordable increases in prices and mortgages.

If it felt like this was on somewhat sound footing you may accept a hard winter, or at least survive it, but this has been done under the guise of businesses and people propelling ourselves to growth with pretty much no meaningful extra with which to do so and certainly no financial basis.

When the IMF condemn you and, more significantly, the BoE has to step in within days of your mini-budget it’s hard to argue that it’s gone well!
 

goatwack

No deal, tramp
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Well, that's the thing isn't it. I don't believe anyone's dismissing Chopley's views, he seems versed in many things and relays things in an intelligent manner.

What does occur however is a very lopsided view on all things Brexit and Tory-related, and that anyone who voted (or simply agrees with parts of either) is to blame for the country's failings, and a mild form of goading of sorts. Because, you know, it's my fault what Truss, Johnson or Brown ultimately inflict upon the populace.

I've seen years of Labour and years of Conservatives, things were shite then and they're shite now, albeit run by a new and somewhat estranged bunch that no one can quite make head nor tail of. Contrast that with the days of Cameron, or May, or even John Major, and they're all so varied in their approach that to pile all into one basket and call them 'the same' would strike me as disingenuous, but there you go.

What's wrong with having no extreme political affiliation either way? I'm fairly relaxed about some things and more steadfast in others, it's human nature, it's grey. I liked Blair as much as most (at first), same as Browm etc. Thing is, we're just passengers in all of this, and badgering those whose views don't neatly align with that current party's ideals is just outright fanaticism.

I'd draw up a list of Labour/Con politicians I liked in a YES/NO format but I can't be arsed. But suffice to say, Truss/ Kwarteng are seemingly dropping the ball. Starmer's a sap and Rayner odious, I thought Labour were under better leadership 15-20 years ago.

And yes, the Pound's in a bad way and showing little signs of life. But it'll inevitably recover, as these things always do. I'm not a prophetic doom-merchant, nor did I believe that on the 24th of September banks were going to seize people's assets, nor do I believe Archons are running an underground cabal waiting to bring humanity down....

It wouldn't go amiss to take other people's actual lived experiences into account, as everyone can't be wrong. Can they? Just like I haven't the first clue about Northern Ireland's historic and recent travails, I just stay way outta that one.

One doesn't have to be a world-leading expert to give an opinion on something, given that most of it's speculative. Hence why it's a discussion and why no one should be derided for their political takes on any given day. Unless talking about Q'anon or something, you can strike that weird shit :D
 

ChopleyIOM

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Starting to get to point why. After all you are in IOM and half the problems in Britain do not affect you. So why the obsession every day to post blinkered biased sources from articles you read showing all these faults about UK whilst ignoring the fact every country is the same until pushed to agree.
It's a reasonable question that I'm happy to answer, it's because I'm fascinated by this stuff. History was my favourite subject at school (there was no Politics GCSE), Politics and History were the two A Levels I enjoyed most (English Language was the other, and General Studies, if you want to count that) and then I studied Politics and History at Uni, where unfortunately the wheels came off the wagon somewhat and gambling, drink and drugs took over. (If I'd ever graduated (which I didn't) I wanted to be a history teacher.)

Specifically, I found the history of the UK, and its politics (past and present) by far and away the most interesting, being as it was my own country, and I wanted to learn about what had moulded its society and its political structures - the things I saw around me every day, where had they come from? What made them the way they are?

That interest has never left me, so even now, knocking on the door on the age of 50, I still want to learn, and to understand, the same as I did back at college and Uni, and indeed as I have my whole life.

It's not about wanting to prove that the UK is 'the worst', it's the just the country I'm interested in, I try to take some interest in international politics but honestly, it doesn't fire me up in anything like the way that UK Politics does - and yes, maybe that gives me a bit of a blind spot on some of this stuff. (I only got so heavily invested in the EU/Brexit side of things because of how leaving the EU would impact the UK, prior to 2016 I couldn't have really told you much about the EU, or our relationship with it.)

Yes I live on the IOM and have done since I moved here permanently in 1996, but I still slavishly follow UK Politics and keep myself very much up to date, by the time Blair won the 1997 election I didn't live in the UK, but I stayed up until the small hours of the morning to watch the results come in, delighted that the UK would have a Labour government. (The delight didn't entirely last, and whilst I maintain to this day that New Labour did a lot of good stuff, there were many things they did I profoundly disagree with, if we were in the last term of the Blair government today, I'd have plenty of less than complimentary things to say about them here at CM.)

For me, everything that is happening in UK politics now can be traced straight back to the disastrous Brexit referendum. The referendum saw off Cameron, Brexit saw off May, it was what put Johnson in power before devouring him, and now it's given us Truss, who in less than three weeks has managed to set fire to the entire UK economy.

The Bank of England has already had to spin up the printing press and the IMF are giving us a bollocking for acting like an emerging economy. All the while Truss is incoherently screaming GROWTH GROWTH GROWTH - (well, not at the moment since she appears to have disappeared) - when the one thing that could actually give us significant growth (getting back into the Single Market and Customs Union) is also the one thing she will refuse to do thanks to her batshit ideology.

Against that backdrop, as someone who has been fascinated by politics and history (specifically UK politics and history) since I was a teenager, yes, I'm taking a very keen interest in all of it. I make no secret of my political leanings but I am genuinely agog at those who can look at this absolutely shower of clowns and even remotely defend what they're up to (for example the mini-budget last Friday), or try to hand-wave it away because the yuan is struggling against the dollar. The same goes for 'they're all the same', because they're really not.

It's a true a good amount of this stuff doesn't directly affect me, but a lot of it does too, the IOM's economy has very close ties to the UK in many regards. Moreover, my entire extended family remains in the UK, at the end of last week I had to lend my brother some money to get him to the end of the month, this is in a household with two full time workers, but they're struggling, they have a mortgage and two children, many bills to pay, and I'm sure we've all noticed that everything's getting more expensive. So when Truss and Kwarteng decide to throw an interest rate rise hand grenade into the UK economy, that's affecting my brother and his family.

It's not like I go trolling around the forums with this stuff, I keep it on-topic and in the relevant threads, I never resort to personal abuse or attacks, and I don't bear any grudges, and will happily chat to anyone about other subjects in other threads - but yes, get me in the politics threads and I'll talk about politics.
 
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ChopleyIOM

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Well, that's the thing isn't it. I don't believe anyone's dismissing Chopley's views, he seems versed in many things and relays things in an intelligent manner.

What does occur however is a very lopsided view on all things Brexit and Tory-related, and that anyone who voted (or simply agrees with parts of either) is to blame for the country's failings, and a mild form of goading of sorts. Because, you know, it's my fault what Truss, Johnson or Brown ultimately inflict upon the populace.

I've seen years of Labour and years of Conservatives, things were shite then and they're shite now, albeit run by a new and somewhat estranged bunch that no one can quite make head nor tail of. Contrast that with the days of Cameron, or May, or even John Major, and they're all so varied in their approach that to pile all into one basket and call them 'the same' would strike me as disingenuous, but there you go.

What's wrong with having no extreme political affiliation either way? I'm fairly relaxed about some things and more steadfast in others, it's human nature, it's grey. I liked Blair as much as most (at first), same as Browm etc. Thing is, we're just passengers in all of this, and badgering those whose views don't neatly align with that current party's ideals is just outright fanaticism.

I'd draw up a list of Labour/Con politicians I liked in a YES/NO format but I can't be arsed. But suffice to say, Truss/ Kwarteng are seemingly dropping the ball. Starmer's a sap and Rayner odious, I thought Labour were under better leadership 15-20 years ago.

And yes, the Pound's in a bad way and showing little signs of life. But it'll inevitably recover, as these things always do. I'm not a prophetic doom-merchant, nor did I believe that on the 24th of September banks were going to seize people's assets, nor do I believe Archons are running an underground cabal waiting to bring humanity down....

It wouldn't go amiss to take other people's actual lived experiences into account, as everyone can't be wrong. Can they? Just like I haven't the first clue about Northern Ireland's historic and recent travails, I just stay way outta that one.

One doesn't have to be a world-leading expert to give an opinion on something, given that most of it's speculative. Hence why it's a discussion and why no one should be derided for their political takes on any given day. Unless talking about Q'anon or something, you can strike that weird shit :D

I've said so many times now goaty (most recently just the other week) that I don't blame anyone who voted for Brexit, my own dad voted for it, as was his right. People voted for it for all kinds of reasons, and against a backdrop of a spectacular number of massive, outright lies.

Where my patience does start to wear a little thin, in honesty, is when folks continue to deny its downsides despite endless abundant evidence to the contrary.

Opinions are fine, we've all got opinions and a right to express them, but sometimes facts trump opinions. Someone might be of the opinion that the world is flat, but the facts will prove them wrong, if they still continue to insist that the world is flat, then at that point they're being a bit daft.

Besides which (and back to the current topic of conversation), the point now isn't the value of the pound, (just yesterday I noted in this thread it had returned to last week's value), the story has moved on, we're now at the point where the BoE has committed to printing effectively unlimited money, and we learn on the news this evening that several major UK pension funds would have collapsed TODAY had the bank not intervened.

Large interest rate rises are now inevitable, that's the only reason the pound hasn't already dropped to parity with the dollar, this is a direct consequence of Kwarteng's loony budget last Friday, and you have Conservative luminaries such as Kenneth Clarke (a man I have a lot of respect for) describing it, rather politely, as 'a serious mistake'.

Please don't misunderstand my political debate here as any sort of personal antipathy to any CM members, one of our regular pub crowd is very right wing, pro-Trump, climate change sceptic, thinks we need to get fracking going and so on, get us talking about politics and it gets pretty, ahem, 'robust' (albeit respectful), but stick us next to each other in the pub and we'll cheerfully chat to each other in a friendly and personable fashion about anything and everything else. I feel entirely the same way about the folks here at CM.
 

Mr_Slot5

Senior Member
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For me, everything that is happening in UK politics now can be traced straight back to the disastrous Brexit referendum. The referendum saw off Cameron, Brexit saw off May, it was what put Johnson in power before devouring him, and now it's given us Truss, who in less than three weeks has managed to set fire to the entire UK economy.
You can go back even further than that. There wouldn’t have even been a Brexit referendum at all IMO if Blair and Brown had offered a referendum on the Lisbon treaty and tensions hadn’t been stoked by a reckless open door policy.
 

pinnit2014

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To be fair, Ireland was the only one to hold one on Lisbon and, if that was anything to go by, they’d just have had one every Monday until they got the Yes; maybe where Nicola got her idea

Reject?

Nah?; let’s run it again 🤭
 

paul7388

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It's a reasonable question that I'm happy to answer, it's because I'm fascinated by this stuff. History was my favourite subject at school (there was no Politics GCSE), Politics and History were the two A Levels I enjoyed most (English Language was the other, and General Studies, if you want to count that) and then I studied Politics and History at Uni, where unfortunately the wheels came off the wagon somewhat and gambling, drink and drugs took over. (If I'd ever graduated (which I didn't) I wanted to be a history teacher.)

Specifically, I found the history of the UK, and its politics (past and present) by far and away the most interesting, being as it was my own country, and I wanted to learn about what had moulded its society and its political structures - the things I saw around me every day, where had they come from? What made them the way they are?

That interest has never left me, so even now, knocking on the door on the age of 50, I still want to learn, and to understand, the same as I did back at college and Uni, and indeed as I have my whole life.

It's not about wanting to prove that the UK is 'the worst', it's the just the country I'm interested in, I try to take some interest in international politics but honestly, it doesn't fire me up in anything like the way that UK Politics does - and yes, maybe that gives me a bit of a blind spot on some of this stuff. (I only got so heavily invested in the EU/Brexit side of things because of how leaving the EU would impact the UK, prior to 2016 I couldn't have really told you much about the EU, or our relationship with it.)

Yes I live on the IOM and have done since I moved here permanently in 1996, but I still slavishly follow UK Politics and keep myself very much up to date, by the time Blair won the 1997 election I didn't live in the UK, but I stayed up until the small hours of the morning to watch the results come in, delighted that the UK would have a Labour government. (The delight didn't entirely last, and whilst I maintain to this day that New Labour did a lot of good stuff, there were many things they did I profoundly disagree with, if we were in the last term of the Blair government today, I'd have plenty of less than complimentary stuff to say about them here at CM.)

For me, everything that is happening in UK politics now can be traced straight back to the disastrous Brexit referendum. The referendum saw off Cameron, Brexit saw off May, it was what put Johnson in power before devouring him, and now it's given us Truss, who in less than three weeks has managed to set fire to the entire UK economy.

The Bank of England has already had to spin up the printing press and the IMF are giving us a bollocking for acting like an emerging economy. All the while Truss is incoherently screaming GROWTH GROWTH GROWTH - (well, not at the moment since she appears to have disappeared) - when the one thing that could actually give us significant growth (getting back into the Single Market and Customs Union) is also the one thing she will refuse to do thanks to her batshit ideology.

Against that backdrop, as someone who has been fascinated by politics and history (specifically UK politics and history) since I was a teenager, yes, I'm taking a very keen interest in all of it. I make no secret of my political leanings but I am genuinely agog at those who can look at this absolutely shower of clowns and even remotely defend what they're up to (for example the mini-budget last Friday), or try to hand-wave it away because the yuan is struggling against the dollar. The same goes for 'they're all the same', because they're really not.

It's a true a good amount of this stuff doesn't directly affect me, but a lot of it does too, the IOM's economy has very close ties to the UK in many regards. Moreover, my entire extended family remains in the UK, at the end of last week I had to lend my brother some money to get him to the end of the month, this is in a household with two full time workers, but they're struggling, they have a mortgage and two children, many bills to pay, and I'm sure we've all noticed that everything's getting more expensive. So when Truss and Kwarteng decide to throw an interest rate rise hand grenade into the UK economy, that's affecting my brother and his family.

It's not like I go trolling around the forums with this stuff, I keep it on-topic and in the relevant threads, I never resort to personal abuse or attacks, and I don't bear any grudges, and will happily chat to anyone about other subjects in other threads - but yes, get me in the politics threads and I'll talk about politics.
Thanks for that Chopley.

It explains a lot as like I said it is obvious you are intelligent and to be honest i just could not understand why you seemed to be totally obsessed with trying to prove how bad UK is when many others are doing bad.

But for you to explain that UK politics has and always has been a passion of yours , while not following International politics closely helps people to Understand why maybe you keep posting about UK politics while seemingly Ignoring others problems.

Okay still sort of does not explain seemingly one sided views and the Agenda against tories. But then again i guess you are the same as most in that you are obviously going to focus on anything Bad you find about the party you dislike more than the one you Support.

I am the total opposite from you In a way. Politics has never been of much Interest. I keep up to date with most things just so i know what is happening in world. But i just look at it like Labour, Conservatives, Lib Dem's who cares. They are all as bad as each other and will lie about anything. Probably wrongly i just go why vote as no matter who wins it does not bother me. I live a simple life so if i am one hundred pound better off or a £100 worse off each month i just survive.

My real interest in politics only comes from my hatred of the SNP and their endless pursuit of Independence. It was my one and only vote ever saying NO and will be my next vote i ever make as well. But If i was to keep posting online about her and her party i guess like yourself i would focus on the negatives. Not that the woman has any positives anyway lol.

Anyway thanks for the post with in depth explaining of your passion for politics.
 

paul7388

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You were doing so well Paul until you started slagging off Nic’s

Who, when she offers subsidised pizzas and kebabs, I’m sure you’ll come to love
See that shows how clueless the woman is. Every man has their price.

Forget free bus travel, Prescriptions and Ipads for kids. All she had to do was offer 2 free sausage rolls and yum yum's twice a week from the local greggs and my vote would have been won. Her loss.
 

goatwack

No deal, tramp
CAG
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See? I told people to wait, and voila, Brexit has brought us all together. Even Chopley can't believe his eyes!
 

mcgameboy

NEVER GO FULL WOKETARD
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Labour MP Rupa Huq seemingly suspended for calling Kwarteng, quote, 'superficially black', in another stunning show of name-calling by the party of tolerance!

But it'll come as no surprise that once again, those shouting the loudest about their virtues and acceptance of all creeds and peoples just so happen to see everything in colour, whilst those who don't, tend to - you know - not even notice :laugh:

At this point the old principle stays true, let the nutters spout their nonsense long enough and people will simply switch off, or watch with toe-curling predictability as they utter some imbecility, as they just can't keep their emotions in check!

Go Labour! The people's party! Woo!
I feel a limerick coming on......

There once was an MP called Huq
She chose to really push her luq
Threw racist shade at Kwasi
Flushed party whip 'down khazi
Oh Rupa, you dumb Liebore fuq
 

goatwack

No deal, tramp
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Location
Londonia
Seems Kwasi's doubling- down on his mini-Budget, and won't amend diddly-squat.

Which isn't in the least bit surprising, as facts & figures are just chess pieces to be moved around a board, and the 'correction' of these plans an admission of incompetence. So what to do? Look weak(er) and kowtow to financial chiefs, or stick to your original, err, vision?

Fact is this current squad seem a little out of their depth - the kind of time where a Gordon Brown-type would be more than welcome to grab this situation by the balls

"City minister Andrew Griffith was sent out this afternoon to make clear the government was going to 'get on and deliver that plan"
 

ChopleyIOM

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Thanks for that Chopley.

It explains a lot as like I said it is obvious you are intelligent and to be honest i just could not understand why you seemed to be totally obsessed with trying to prove how bad UK is when many others are doing bad.

But for you to explain that UK politics has and always has been a passion of yours , while not following International politics closely helps people to Understand why maybe you keep posting about UK politics while seemingly Ignoring others problems.

Okay still sort of does not explain seemingly one sided views and the Agenda against tories. But then again i guess you are the same as most in that you are obviously going to focus on anything Bad you find about the party you dislike more than the one you Support.

I am the total opposite from you In a way. Politics has never been of much Interest. I keep up to date with most things just so i know what is happening in world. But i just look at it like Labour, Conservatives, Lib Dem's who cares. They are all as bad as each other and will lie about anything. Probably wrongly i just go why vote as no matter who wins it does not bother me. I live a simple life so if i am one hundred pound better off or a £100 worse off each month i just survive.

My real interest in politics only comes from my hatred of the SNP and their endless pursuit of Independence. It was my one and only vote ever saying NO and will be my next vote i ever make as well. But If i was to keep posting online about her and her party i guess like yourself i would focus on the negatives. Not that the woman has any positives anyway lol.

Anyway thanks for the post with in depth explaining of your passion for politics.

No problem, I hadn't really thought about the 'Why' before as it's obvious to me in my own head, but not to anyone who doesn't have that information - so I was happy to answer the question :)

The thing with being one-sided is that to a large extent, we can only really judge the party that is in power as they're the ones getting to make all the decisions. Private Eye is often accused of being left wing, but the reality is that it's mostly looking at what the party in power is doing, and the simple fact is that's usually the Tories, during the New Labour years they criticised Labour plenty often enough.

So it is with the Tories, they've been in power for twelve years now so when we look around at what's happening, it's kind of all on them at this point - hence my focus is kind of necessarily on what they're up to, as they're the ones 'making history' as it were, for better or worse.....
 

ChopleyIOM

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Seems Kwasi's doubling- down on his mini-Budget, and won't amend diddly-squat.

Which isn't in the least bit surprising, as facts & figures are just chess pieces to be moved around a board, and the 'correction' of these plans an admission of incompetence. So what to do? Look weak(er) and kowtow to financial chiefs, or stick to your original, err, vision?

Fact is this current squad seem a little out of their depth - the kind of time where a Gordon Brown-type would be more than welcome to grab this situation by the balls

"City minister Andrew Griffith was sent out this afternoon to make clear the government was going to 'get on and deliver that plan"

They're practically a doomsday cult at this point. Fun fact, Truss and Kwarteng were two of the co-authors of a book called 'BRITANNIA UNCHAINED' back in 2012, so what's happening now is them finally getting to put their plans into action.

So the scary thing is, they really believe in this stuff, and if it's not working yet, it just means they're not doing enough of it.

This is how close we came to a genuine financial crash in the last couple of days, the BoE had to commit to buying £65bn worth of UK gov bonds over the next two weeks, otherwise several major pension schemes were going to collapse.

So yes, the pound has stabilised to where it was last Friday before Kwarteng opened his mouth, and the pension schemes didn't go bust, all it cost was a mere sixty-five billion pounds, and that's just for starters. The interest rate rises are basically locked in now, they'll be along shortly, for all the extra carnage they're going to cause.

Of course you can't put that much extra new money into an economy without fuelling inflation, which is already running at over 10%.

Overall, a towering success for the Britannia Unchained authors, imagine waiting all this time to try your amazing plan out for real and it turns out to be a big pile of crap.

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ChopleyIOM

Bitter remoaner insufferable woketard 3Dice shill
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Turns out we'd have been a lot better off being Ready4Rishi.

Two months ago folks.

I do not even remotely see how anything that comes out of Truss's mouth from this moment forward can have a shred of credibility.

EDIT - Sunak would have given Labour a much harder time at the next general election, but honestly I'd be fine with that if it would have stopped The Human Hand Grenade (as Cummings used to refer to Truss) getting her hands on the wheel.



1664401184120.png
 

goatwack

No deal, tramp
CAG
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Location
Londonia
Well, Britannia Unchained certainly provides some context to their behaviour, from the general summation I got.

Play fast and loose with the economy - why toil on spread betting and steady growth when you can just stick everything on Red?

Also cements Truss' inexplicable shift towards cheap imported labour, because it's another boom or bust scenario whereby getting the economy into gear is paramount. Aspiration Nation = "get working you lazy sods, what do you need worker rights for, those Pyramids won't build themselves!"

Actually quite stunning.....and God help those on Benefits, I can see many a shift in that regard, because they're essentially viewed as potential workers, and will be given no leniency if I'm to read these patterns. It'll make Cameron's austerity and ATOS tests seem like the Renaissance.

Can't see them lasting terribly long at this rate, if the last week's anything to go by. But until then - grab your popcorn
 

ChopleyIOM

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This is only 2m20s long but it feels like an eternity. Liz Truss trying and failing to take on a regional railway station asking her about fracking and what local consent actually means.

She's unfathomably awful.

This is the woman, who along with Kwarteng, cost the UK sixty-five billion pounds yesterday.

 

dunover

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I have to be honest here - I cannot see why on earth the top rate has been lowered to 40% from 45%. In of itself it's not a costly act as that rate applies to a small minority of taxpayers but as a gesture it seems highly provocative in times of need when people are struggling. It's almost political suicide, well probably is. So take Denise Coates, owner of Bet365. Her salary was over £300m last year (this is not as bad as it sounds as it's a privately-owned business and with a few phone calls to an accountant she could pay 19% as opposed to the full income tax she opts to pay) so 45% of that is £135 million for the treasury. Off of one person. Assuming equivalence this financial year, she will pay £120m. So £15m extra in her pocket, she clearly doesn't want or need. OK, an extreme example but it indicates the pointlessness both financially and politically.
 

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