Tories are still lying *******s

[Ozyhibby]

https://twitter.com/gus_odonnell/status/1573403787683074049?s=46&t=oJ5OiPALPIOnDkQIwoPL2A


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[Jones28]

https://twitter.com/jolyonmaugham/status/1573664651996454912?s=46&t=1SBbwow6X2NR6NH-Im13rA

Particularly galling piece of legislation scrapped in the new budget.

Tax dodging effectively legalised.

Thanks every **** that voted Tory.

[hibsbollah]

If the mini budget WASNT class war, the Government could have announced something to deal with actual school kids going hungry, some of these stories are almost unbelievable for one of the richest countries in the world.

https://www.theguardian.com/business/2022/sep/25/schools-in-england-warn-of-crisis-of-heartbreaking-rise-in-hungry-children

The relatively paltry sums involved, when compared to the attacks on the states revenue caused by tax cuts, wouldn’t even have diminished the overall trickle down economics pretense. Chuck a billion and a half pounds at ensuring all benefit recipient families get school meals (hardly ‘socialism’ is it? :faf:) would at least be something. They could even have spun a ‘Labour hasn’t promised this!’ to the Red Wall Tories. I bet those voters are ****ing desperate to have something to show for voting Boris voting Brexit, voting for *******s.

But apparently, complaining about a Government leaving working class children to starve is class war, but actually starving them, not so much.

[WhileTheChief..]

https://twitter.com/jolyonmaugham/status/1573664651996454912?s=46&t=1SBbwow6X2NR6NH-Im13rA

Particularly galling piece of legislation scrapped in the new budget.

Tax dodging effectively legalised.

Thanks every **** that voted Tory.

I'm maybe picking this up wrong, but isn't this what the majority of small business owners do when they move from being a sole trader to a limited company? The amount of taxi drivers in Edinburgh that earn £12,570 pa is quote a coincidence for example!

You would become a director and would pay yourself a combination of dividends and salary. If you've got a spouse and kids, ditto for them too.

It's absolutely the norm and has been for decades I think, unless this a totally separate issue that I've misunderstood?

[Jones28]

I'm maybe picking this up wrong, but isn't this what the majority of small business owners do when they move from being a sole trader to a limited company? The amount of taxi drivers in Edinburgh that earn £12,570 pa is quote a coincidence for example!

You would become a director and would pay yourself a combination of dividends and salary. If you've got a spouse and kids, ditto for them too.

It's absolutely the norm and has been for decades I think, unless this a totally separate issue that I've misunderstood?

You’re probably right, but I think the point of the thread is not that this happens, is now that the government are just letting it happen, they’re no longer trying to pretend that they care.

And I don’t think scrapping this legislation will be to the benefit of taxi drivers, or if it is it certainly isn’t the reason it was scrapped.

[LewysGot2]

Kwarteng talking about the low paid needing to take more hours or a second job or a better paid job to negotiate the current mess.

Neat way to fill the Brexit induced gaps in the workforce by making folk work longer or more to survive. Convenient that Braverman is looking to undermine the Working Time Directive…

Thing is, if everyone moves, in aspiration *coughs*, to higher paid jobs…who fills the ones they leave.

It’s evil genius :rolleyes:

[Zambernardi1875]

I'm maybe picking this up wrong, but isn't this what the majority of small business owners do when they move from being a sole trader to a limited company? The amount of taxi drivers in Edinburgh that earn £12,570 pa is quote a coincidence for example!

You would become a director and would pay yourself a combination of dividends and salary. If you've got a spouse and kids, ditto for them too.

It's absolutely the norm and has been for decades I think, unless this a totally separate issue that I've misunderstood?

I took it as, before say offshore workers were allowed to become ltd companies and have there family as directors, oil companies would have them as sub contractors. That all stopped. But now it’s being allowed again.

[Jones28]

Kwarteng talking about the low paid needing to take more hours or a second job or a better paid job to negotiate the current mess.

Neat way to fill the Brexit induced gaps in the workforce by making folk work longer or more to survive. Convenient that Braverman is looking to undermine the Working Time Directive…

Thing is, if everyone moves, in aspiration *coughs*, to higher paid jobs…who fills the ones they leave.

It’s evil genius :rolleyes:

People currently claiming disability allowances, low level prisoners and the unemployed will be forced in to taking these jobs or see their benefits cut.

[WhileTheChief..]

In my last job, the owner was the boss.

His wife and 2 adult children were named directors that never set foot on the premises and sent their 'apologies' to every meeting. Under no circumstances could anyone try and pretend they did any work for the company.

They all received dividends and bonuses though.

It makes sense. They pay less income tax on dividends than earnings so of course they will do it the way.

Similar to all of us that contribute to our workplace pensions via salary sacrifice. We do it to pay a wee bit less tax and NI.

[Jones28]

In my last job, the owner was the boss.

His wife and 2 adult children were named directors that never set foot on the premises and sent their 'apologies' to every meeting. Under no circumstances could anyone try and pretend they did any work for the company.

They all received dividends and bonuses though.

It makes sense. They pay less income tax on dividends than earnings so of course they will do it the way.

Similar to all of us that contribute to our workplace pensions via salary sacrifice. We do it to pay a wee bit less tax and NI.

Similar, but hardly in the same ballpark.

Look at the Twitter thread and check out the table: in 2026 it will result in a £2b loss to the countries finances.

[Ozyhibby]

Ross and Cole-Hamilton begging for funeral tickets.[emoji2961]

https://www.dailyrecord.co.uk/news/scottish-news/nicola-sturgeon-queens-funeral-tickets-28074298

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[Jack]

Has paying tax become optional to all other than PAYE or whatever it is now?

Worked well in Greece.

[degenerated]

Ross and Cole-Hamilton begging for funeral tickets.[emoji2961]

https://www.dailyrecord.co.uk/news/scottish-news/nicola-sturgeon-queens-funeral-tickets-28074298

Sent from my iPhone using TapatalkThey were probably left off after the infantile behaviour from Cole Hamilton and Sarwar at the st Giles event.

I did notice that Cole Hamilton must have trawled the TV footage of the funeral for pictures of himself to put on twitter for likes.

26198

[Keith_M]

Ross and Cole-Hamilton begging for funeral tickets.[emoji2961]

https://www.dailyrecord.co.uk/news/scottish-news/nicola-sturgeon-queens-funeral-tickets-28074298

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'A Government spokesman said: “The FirstMinister had no role in deciding who should be invited to the state funeral. Invitations were issued by the Lord Chamberlain’s office.'

“When it became clear that opposition party leaders in Scotland had not been invited, the Scottish Government drew this to the attention of the Lord Chamberlain’s office who issued invitations.”.



You'd think they'd be thanking ScotGov for sorting it our for them.

[CropleyWasGod]

https://twitter.com/jolyonmaugham/status/1573664651996454912?s=46&t=1SBbwow6X2NR6NH-Im13rA

Particularly galling piece of legislation scrapped in the new budget.

Tax dodging effectively legalised.

Thanks every **** that voted Tory.

That's not what has happened.

IR35 still exists, as do the rules around whether one is a contractor or an employee.

What has changed is that it has reverted back to the previous situation whereby it's up to the individual go make the judgement whether they are employed or contracted. It had been the end-user's call, but no more.

To.be clear, though , HMRC still have the final say
That hasn't changed.

[CropleyWasGod]

In my last job, the owner was the boss.

His wife and 2 adult children were named directors that never set foot on the premises and sent their 'apologies' to every meeting. Under no circumstances could anyone try and pretend they did any work for the company.

They all received dividends and bonuses though.

It makes sense. They pay less income tax on dividends than earnings so of course they will do it the way.

Similar to all of us that contribute to our workplace pensions via salary sacrifice. We do it to pay a wee bit less tax and NI.

If they were directors, receiving bonuses, they would be subject to PAYE.

Further,they would have to show that the bonus they received was a fair rate for.the work done.

[CropleyWasGod]

I'm maybe picking this up wrong, but isn't this what the majority of small business owners do when they move from being a sole trader to a limited company? The amount of taxi drivers in Edinburgh that earn £12,570 pa is quote a coincidence for example!

You would become a director and would pay yourself a combination of dividends and salary. If you've got a spouse and kids, ditto for them too.

It's absolutely the norm and has been for decades I think, unless this a totally separate issue that I've misunderstood?

Your taxi driver would need to have an income, after expenses,of over £43k before that was any use to them. I can't think of any taxi drivers I know who have that.

[gbhibby]

Your taxi driver would need to have an income, after expenses,of over £43k before that was any use to them. I can't think of any taxi drivers I know who have that.
You would have to be a multiple taxi and plate owner for it to be worthwhile becoming a limited company.

[NORTHERNHIBBY]

People currently claiming disability allowances, low level prisoners and the unemployed will be forced in to taking these jobs or see their benefits cut.

Handy bonus that none of those are likely to vote Tory.

[J-C]

I'm maybe picking this up wrong, but isn't this what the majority of small business owners do when they move from being a sole trader to a limited company? The amount of taxi drivers in Edinburgh that earn £12,570 pa is quote a coincidence for example!

You would become a director and would pay yourself a combination of dividends and salary. If you've got a spouse and kids, ditto for them too.

It's absolutely the norm and has been for decades I think, unless this a totally separate issue that I've misunderstood?

Huge difference in earning money and the amount you actually pay tax on. You forget to mention, taxi hp payments, insurance, circuit fees, garage bills, fuel expenses, council license fee, clothing and cleaning expenses, you get my drift.

[WhileTheChief..]

If they were directors, receiving bonuses, they would be subject to PAYE.

Further,they would have to show that the bonus they received was a fair rate for.the work done.

Yeah how do folk get away with this so easily? Seems to be common practice no?

[WhileTheChief..]

Your taxi driver would need to have an income, after expenses,of over £43k before that was any use to them. I can't think of any taxi drivers I know who have that.

Why do so many directors of their own company’s draw a salary of £12,570 with dividends making up their other income?

[CropleyWasGod]

Why do so many directors of their own company’s draw a salary of £12,570 with dividends making up their other income?

They draw a salary of less than that. The salary is normally set at whatever the NI threshold is.

The incorporation of self employed businesses isn't about saving tax so much. It's more about saving National Insurance.

[CropleyWasGod]

You would have to be a multiple taxi and plate owner for it to be worthwhile becoming a limited company.

Yep.

Some taxi drivers use a Limited Company to hold the plate, purely to make sure it stays with their estate if they pass away. Nothing to do with saving tax.

[CropleyWasGod]

Yeah how do folk get away with this so easily? Seems to be common practice no?

Get away with what? Not paying PAYE on bonuses, you mean? That's virtually impossible these days.

[WhileTheChief..]

Get away with what? Not paying PAYE on bonuses, you mean? That's virtually impossible these days.

I’m thinking of the family of my last employer. I was there 3 years and they didn’t work a day.

They got dividends as shareholders, fair enough.

I take the point re paying tax on bonuses, just didn’t think bonuses could be paid unless they actually did some work.

[WhileTheChief..]

They draw a salary of less than that. The salary is normally set at whatever the NI threshold is.

The incorporation of self employed businesses isn't about saving tax so much. It's more about saving National Insurance.

Thanks, and sorry for the accounting questions on a Sunday!

If I earn £40k but only take a salary of £12,570 with dividends making up the rest, I’d pay 8.75% income tax on the dividend income as against 20 or 21% on salary no? I’d also get the additional £2k tax free dividend allowance.

If I was a higher rate tax payer i’d pay 33.75% on my dividends compared to 40% on my salary?

Again, happy to be corrected.

[Moulin Yarns]

Thanks, and sorry for the accounting questions on a Sunday!

If I earn £40k but only take a salary of £12,570 with dividends making up the rest, I’d pay 8.75% income tax on the dividend income as against 20 or 21% on salary no? I’d also get the additional £2k tax free dividend allowance.

If I was a higher rate tax payer i’d pay 33.75% on my dividends compared to 40% on my salary?

Again, happy to be corrected.

Nothing happier than an accountant working on Sunday, he will charge you triple 😉

[CropleyWasGod]

Thanks, and sorry for the accounting questions on a Sunday!

If I earn £40k but only take a salary of £12,570 with dividends making up the rest, I’d pay 8.75% income tax on the dividend income as against 20 or 21% on salary no? I’d also get the additional £2k tax free dividend allowance.

If I was a higher rate tax payer i’d pay 33.75% on my dividends compared to 40% on my salary?

Again, happy to be corrected.

You're missing the NI on your salary,both Employees and Employers. You're also missing the Corporation Tax on the company profit.

It only becomes worthwhile to incorporate if your profits are mid 40s thousand.

Even at that, there are downsides. Dividends don't count as pensionable income, and many lenders don't accept them as actual income.

[WhileTheChief..]

Thanks.

[J-C]

Yep.

Some taxi drivers use a Limited Company to hold the plate, purely to make sure it stays with their estate if they pass away. Nothing to do with saving tax.


It's so it stays in the family as you say, back in the day when the plate was worth something, probably nowadays not worth the hassle with the cost of running a taxi, lost a good few guys from the trade during the pandemic as it wasn't worth keeping it on the road due to the costs.

[CropleyWasGod]

Back to the Tories? 😀

[Keith_M]

If you want to go the route of avoiding Corporation Tax completely, then start up a business in Switzerland who have the sole rights to a company name like... well... how about "TaxAvoidersAreUs".

The second step is to create a contract with your Swiss based company for the rights to use that name in the UK, for a fee roughly equivalent to your business income.

The Net Income for your UK based company will then be zero, and you can make a deal with whichever Swiss state your other company is based in to operate under absolutely minimal taxation, with the implicit threat that you will move your business elsewhere if they don't agree.



I mean, if it works for Starbucks......

[Hibernia&Alba]

Redistribution of wealth from the poor to the rich


https://youtu.be/fRHyK1Whs5E

[Stairway 2 7]

OilSheppard
·
15m
SUNDAY NIGHT FEAR: The British pound has fallen below $1.08 as trading reopens in Asia

Those hoping Friday’s bloodletting was overdone are, so far, disappointed

All-time low of ~$1.05 from 37 years ago remains very much in play

[Callum_62]

OilSheppard
·
15m
SUNDAY NIGHT FEAR: The British pound has fallen below $1.08 as trading reopens in Asia

Those hoping Friday’s bloodletting was overdone are, so far, disappointed

All-time low of ~$1.05 from 37 years ago remains very much in playAlready been (world) beaten by truss only weeks into her tenure [emoji106]

Mon the tories

https://twitter.com/BBCBreaking/status/1574217514850177026?t=TuEfQ_sqzTqVAeFhzSa8sw&s=19

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[GlesgaeHibby]

OilSheppard
·
15m
SUNDAY NIGHT FEAR: The British pound has fallen below $1.08 as trading reopens in Asia

Those hoping Friday’s bloodletting was overdone are, so far, disappointed

All-time low of ~$1.05 from 37 years ago remains very much in play

Kwarteng hinting at more tax cuts to come yesterday helping to spook markets further.

33/1 on Truss being emptied by the end of 2022 seems quite tempting just now. Already murmurings of Tory MPs being prepared to vote against her tax cuts, and others considering letters of no confidence.

[Stairway 2 7]

Monopoly money

@DuncanWeldon
·
7m
Worth noting sterling is down about 1.7% against the Euro too.

[Stairway 2 7]

This will be the largest real time spending cut since ww2

Steven_Swinford
Exclusive:

Public sector faces 2 year squeeze as Liz Truss axes plans for spending review

The spending envelope will be same as set out in 2021 - when inflation was forecast to peak at 4%

Means real terms pay cuts for millions & difficult choices for schools and hospitals

[Jack]

And remember the UK pays for its petrol and gas on the international markets in $s.

That budget is looking better all the time. Not. ********s!

[Stairway 2 7]

Can see a big boe rate rise in the next couple of days to prop up the pound

[hibsbollah]

‘World beating’
‘Strong and stable’

If our media did their job they’d be telling us the Tories have wrecked our economy and shouldn’t be trusted for a generation, like they did with Labour in the early 1980s.

[Callum_62]

Mind when we could've had a coalition of chaos?

Surely there some tory voters who can't continue to vote for them?

Sent from my VOG-L29 using Tapatalk

[Keith_M]

Trussonomics


26200

[ronaldo7]

Trussonomics


26200

The BBC just told me that although the £ is now at 1.07 to the dollar, its now heading in the right direction.

[Callum_62]

The BBC just told me that although the £ is now at 1.07 to the dollar, its now heading in the right direction.Lol, that's some take on events [emoji23]

Sent from my VOG-L29 using Tapatalk

[hibsbollah]

The best thing I’ve read on social media today, is that the UK is now like when Scar and the hyenas took over the pride lands in The Lion King movie.

[Bostonhibby]

The best thing I’ve read on social media today, is that the UK is now like when Scar and the hyenas took over the pride lands in The Lion King movie.Didn't the Nasties just get rid of the lying king?

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[Stairway 2 7]

Housing collapse unlike we've seen before coming up.


BionicBanker
@BrokenBanker
market pricing in 5.5% UK interest rate now by March 2023, ie: 300bps hike from here. that's before things get going this morning

[GlesgaeHibby]

Housing collapse unlike we've seen before coming up.


BionicBanker
@BrokenBanker
market pricing in 5.5% UK interest rate now by March 2023, ie: 300bps hike from here. that's before things get going this morning

Markets predicting 6% now. Just worked out that'd put my mortgage up by around 10k a year (assuming best deals were around 7.5% then). Absolutely mental...still a penny of income tax eh? Magic

[JimBHibees]

The BBC just told me that although the £ is now at 1.07 to the dollar, its now heading in the right direction.

Depends which way the right direction is I suppose :greengrin

[WhileTheChief..]

We don’t even get the penny saving!! It’s really grim.

[Jack]

The BBC just told me that although the £ is now at 1.07 to the dollar, its now heading in the right direction.

Yup. The hedge fund managers will be making millions.

[hibsbollah]

Tory ******* MP, 4 point plan for hassle free get rich plan; Bet against the pound. Get into Government, Pass destructive laws, pound collapses, buckets of free cash for Tory ******* MP.
Added benefit that Fossil Fuel firms that benefit from a strong dollar are also happy, and repay some of those guys that bankrolled your run for office in the first place. Just keep blaming Russia and you'll be fine; the press aren't all that interested anyway.

[ronaldo7]

Interesting take from the Scottish Tories and their media friends that Scotland should follow in England footsteps on tax, whilst the pound is nose diving, the UK economy is in peril, and millions of livelihoods are at stake.

Some of those same Tories now plan to move to England. Enjoy the beaches. 🚽

[Ozyhibby]

https://twitter.com/pippacrerar/status/1574354421877657600?s=46&t=_rpnjETZu5Zzg2GZtfhI6A

Rumours of letters going in already.


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[Stairway 2 7]

https://twitter.com/pippacrerar/status/1574354421877657600?s=46&t=_rpnjETZu5Zzg2GZtfhI6A

Rumours of letters going in already.


Sent from my iPhone using Tapatalk

Jeezo what an absolute farce

[Jack]

https://twitter.com/pippacrerar/status/1574354421877657600?s=46&t=_rpnjETZu5Zzg2GZtfhI6A

Rumours of letters going in already.


Sent from my iPhone using Tapatalk

Bring back Boris 😱

[Oscar T Grouch]

I can buy 1 kg of oatmeal from Tesco for 70 pence. It will make 20 meals. Why does the Left pretend people in Britain are starving?
effiedeans.com/2022/09/not-so…

Unionist blogger in Aberdeenshire!!

Obviously thinks eating gruell every meal is nutritional!

Ah the über unionist, hater of Gaelic road signs and most things Scottish, Effie Deans. A really horrible piece of work this one is. As an aside, 20 portions of oatmeal is 50g per portion or 194 calories, you'd assume they'd want the food bank users to have 3 meals a day (though I would not count on them wishing this), so that is 582calories a day per person, which would not keep an inactive person alive very long, the lack of nutrients like protein and fat would render those on this sort of diet useless for any job. But that feeds into their narrative that food-bank users are all lazy non working good-for-nothings when in reality they are normal working people pushed the the limit by rising costs across the board! Given the choice I would assume Effie would welcome the return of the Workhouses, which lets not forget haven't even been gone for 100 years yet.

[Kato]

https://twitter.com/SaltireSatire78/status/1574357881448792064?t=0JcdcTx7O5NpBUDgJ4eW1w&s=19



Sent from my SM-A528B using Tapatalk

[Stairway 2 7]

This is fair but it's a multitude of things hammering us at once. The pound, inflation, gas prices all seem that bit worse in the uk than many

tapas321
·
23m
A little reminder in these troubled times

Us Brits seem to forget that there are 2 sides to a story & 2 currencies involved

The huge drop in the value of the £ is MAINLY due to the 'flight to quality' to the $

Year to date:
£ down v $ 18.85%
€ down v $ 14.9%
$ up v JPY 25

[Stairway 2 7]

Pound back up above Fridays end and rising fast, **** knows.

EdConwaySky
·

Latest from the rollercoaster that is the UK currency market: sterling has just recovered some of its losses vs the US$.
Now at $1.09, the pound is now ABOVE where it ended the day on Friday.

[Kato]

Pound back up above Fridays end and rising fast, **** knows.

EdConwaySky
·

Latest from the rollercoaster that is the UK currency market: sterling has just recovered some of its losses vs the US$.
Now at $1.09, the pound is now ABOVE where it ended the day on Friday.The hedge funders would have cashed in on Friday.

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[Stairway 2 7]

The hedge funders would have cashed in on Friday.

Sent from my SM-A528B using Tapatalk

The huge falls came today, then reversed. Although it's still overall pish

[Scorrie]

The hedge funders would have cashed in on Friday.

Sent from my SM-A528B using Tapatalk

Yep though cashed in this morning. And the rise in the pound today is probably in expectation of a BoE statement this afternoon. Unlikely to see an interest rate rise today as the optics would look awfulfor Truss but markets would want certainty that the BOE would do what’s necessary. If no such statement then watch sterling fall again overnight would be my guess

[grunt]

https://twitter.com/darioperkins/status/1573562451748069376?s=20&t=lTR38uO9-1dZyDPAh4Ug5g


The problem isn't that the UK budget was inflationary, its that it was moronic. And a small open economy that seems to be run by morons gets a wider risk premium on its assets - currency down, yields up

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20220926/8ce30cc79b67ab5f51de915886986753.jpg


Sent from my iPhone using Tapatalk

[Willis1875]

https://uploads.tapatalk-cdn.com/20220926/8ce30cc79b67ab5f51de915886986753.jpg


Sent from my iPhone using Tapatalk

Dropped again after BOE said they won’t hesitate to raise the interest rate to whatever they deem necessary

[grunt]

https://uploads.tapatalk-cdn.com/20220926/8ce30cc79b67ab5f51de915886986753.jpg

I don't think that either "the pound is no longer at its lowest ever rate against the dollar" or "the pound didn't tank against the euro as much as it did after Brexit" are particularly vote winning messages.

[Ozyhibby]

I don't think that either "the pound is no longer at its lowest ever rate against the dollar" or "the pound didn't tank against the euro as much as it did after Brexit" are particularly vote winning messages.

To be fair to Murdo, winning votes and sustaining a career in politics isn’t something he has had to worry about.


Sent from my iPhone using Tapatalk

[Keith_M]

https://uploads.tapatalk-cdn.com/20220926/8ce30cc79b67ab5f51de915886986753.jpg


Sent from my iPhone using Tapatalk



Pound now trading at $1.07

Wonder what his thoughts are now?

[Hibernia&Alba]

I've seen a couple of reports that a few Tory MPs have already submitted letters of no confidence in Truss to the 1922 committee. That would be astonishing.

[Ozyhibby]

A lot of banks appear to be pulling their mortgage products tonight. Truss is going to completely crash the UK economy.


Sent from my iPhone using Tapatalk

[McSwanky]

https://uploads.tapatalk-cdn.com/20220926/8ce30cc79b67ab5f51de915886986753.jpg


Sent from my iPhone using TapatalkWhat. A. ****ing. Plum.

[WeeRussell]

What. A. ****ing. Plum.

He’s a right slimy ******* that one.

[GlesgaeHibby]

A lot of banks appear to be pulling their mortgage products tonight. Truss is going to completely crash the UK economy.


Sent from my iPhone using Tapatalk

Not surprising, when UK bond rates / cost of debt has shot through the roof. My remortgage is due to go through on Monday...even though the offer has been accepted for months I've still got the fear it'll be pulled at the last minute.

In better news, the Bookies think she'll be gone soon. I took a punt this morning at 33/1 for her to go this year. It's shortened to between 6/1 and 11/1 now.

[Ozyhibby]

Not surprising, when UK bond rates / cost of debt has shot through the roof. My remortgage is due to go through on Monday...even though the offer has been accepted for months I've still got the fear it'll be pulled at the last minute.

In better news, the Bookies think she'll be gone soon. I took a punt this morning at 33/1 for her to go this year. It's shortened to between 6/1 and 11/1 now.

I move house on 1st Nov so I’m sweating a bit. I have a deal agreed but I’m aware that it could be pulled at the last minute. There is also the worry that the people buying my house have their mortgage pulled. The whole thing is an absolute ****show.


Sent from my iPhone using Tapatalk

[Hibby Bairn]

Pound now trading at $1.07

Wonder what his thoughts are now?

Most of the noise is hyperbolic. Media frenzy now the Queen has been buried.

The Euro is trading at around 82% of its value v the $ from 5 years ago. The £ around 80%.

The story is really the strength of the dollar.

[GlesgaeHibby]

I move house on 1st Nov so I’m sweating a bit. I have a deal agreed but I’m aware that it could be pulled at the last minute. There is also the worry that the people buying my house have their mortgage pulled. The whole thing is an absolute ****show.


Sent from my iPhone using Tapatalk

Fingers crossed for you. Moving house is stressful enough as it is, without this ****show happening in the background.

[neil7908]

Most of the noise is hyperbolic. Media frenzy now the Queen has been buried.

The Euro is trading at around 82% of its value v the $ from 5 years ago. The £ around 80%.

The story is really the strength of the dollar.

The pound has also dropped massively against the Australian dollar.

[Bostonhibby]

The pound has also dropped massively against the Australian dollar.Didn't we recently have a foreign secretary & Trade secretary who was heavily promoting the virtues of a rather lopsided trade deal with Australia?

Hopefully the exchange rate on all our imports will have been shrewdly managed, as ever.

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[hibsbollah]

Was speaking to an Argentinian today, who has had to live with economic growth instability and hyperinflation for many years down there. When asked for advice he said ‘if you need any electrical appliances, or think you will need a new one in the next year or so, buy them NOW, because they are about to skyrocket in price more than anything else’. (All the components are imported, falling value of pound makes imports more expensive with soaring inflation as a multiplying factor).

[Hibby Bairn]

The pound has also dropped massively against the Australian dollar.

The AUSD is also trading at about 80% of its value from 5 years ago v USD.

The AUSD v GBP is more or less the same as it was 5 years ago at 0.6 to the £.

[Stairway 2 7]

The AUSD is also trading at about 80% of its value from 5 years ago v USD.

The AUSD v GBP is more or less the same as it was 5 years ago at 0.6 to the £.

@saylor
Over the past year currencies have collapsed against the dollar:

CAD -8%, CNY -9%, AUD -11%, ZAR -17%, KRW -18%, EUR -18%, PLN -21%, GBP -22%, JPY -23%, TRY -52%

[cabbageandribs1875]

https://pbs.twimg.com/media/FdmIOvfWYAAXwgt?format=jpg&name=large

[Torto7]

@saylor
Over the past year currencies have collapsed against the dollar:

CAD -8%, CNY -9%, AUD -11%, ZAR -17%, KRW -18%, EUR -18%, PLN -21%, GBP -22%, JPY -23%, TRY -52%

A strong dollar is bad for America as well. This is the Trump Stock pump drying out and the US dipping into their o and g reserves to keep Europe going more than anything else.

The dimwit Truss is trying a mini version here. I'd actually be in favour of more QE despite the inflation it's essentially government borrowing interest free as the BOE controls it similar to lockdown this is supply lead inflation mainly. What we'll end up with is the government and the BOE being at loggerheads.

Insider trading should be investigated but the UK isn't robust at all in tackling Fraud on that scale as the fraudsters control the government. :brickwall

The lack of morality is the real story with the Truss give away. Britain's debt is on the lower scale of the G7 there is scope for some spending or was. Unfortunately the cretin in charge is going to blow it in a hurry securing her post Westminster future.

Why any Scot isn't at least considering Indy is beyond me.

[Stairway 2 7]

Labour 4/7 tories 5/4 on skybet for next election. Nows the time if you think tories will win

[Hibernia&Alba]

Labour 4/7 tories 5/4 on skybet for next election. Nows the time if you think tories will win

Is that the betting for the largest party or for a majority?

[Stairway 2 7]

Is that the betting for the largest party or for a majority?

Most seats. Majority 6/4 lab 3/1 con

[hibsbollah]

Breaking News- “In the US, rapper 50 Cent has announced that in the UK he will be now known as One Pound…”

[Scorrie]

https://uploads.tapatalk-cdn.com/20220926/8ce30cc79b67ab5f51de915886986753.jpg


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What he doesn’t seem to understand that the reason the pound “recovered “ to 1.08 is that the markets have now priced in UK interest rate will be 6% early next year. If this doesn’t happen, sterling is likely to plummet. If it does then it will be brutal for millions of people. In effect, interest rates are at over 4% now anyway on the markets, that’s why some mortgage providers pulled products last night

[hibsbollah]

What he doesn’t seem to understand that the reason the pound “recovered “ to 1.08 is that the markets have now priced in UK interest rate will be 6% early next year. If this doesn’t happen, sterling is likely to plummet. If it does then it will be brutal for millions of people. In effect, interest rates are at over 4% now anyway on the markets, that’s why some mortgage providers pulled products last night

I wouldn't so mind if the interest rates on savings accounts went up as fast. Never seems to happen. Its all about consume consume consume.

[Scorrie]

I wouldn't so mind if the interest rates on savings accounts went up as fast. Never seems to happen. Its all about consume consume consume.

That’s a very fair point. What I would say is that as money becomes more “expensive” for banks and other lenders to obtain from the market, they might then start to raise savings rates to attract deposits ( more of a return to how banks etc used to operate). Whether anyone has much money to put away is another question …

[GlesgaeHibby]

I wouldn't so mind if the interest rates on savings accounts went up as fast. Never seems to happen. Its all about consume consume consume.

Agree savings rates should be increased too, but very few folk will be in a position to save with gas/elec bills having doubled, mortgage payments going through the roof and the cost of groceries up massively too.

This whole situation is mental. Inflation isn't being driven by demand, but supply side issues. I can see interest rates need to rise to try and protect sterling, but the increased cost of borrowing will drive more folk into destitution and collapse of housing market.

[hibsbollah]

Agree savings rates should be increased too, but very few folk will be in a position to save with gas/elec bills having doubled, mortgage payments going through the roof and the cost of groceries up massively too.

This whole situation is mental. Inflation isn't being driven by demand, but supply side issues. I can see interest rates need to rise to try and protect sterling, but the increased cost of borrowing will drive more folk into destitution and collapse of housing market.

I’ve had saving accounts for the kids since they’ve been little, I just put an small amount in each month I barely notice. Even if you’re clever and change it to a short term ISA the best interest rate for me is i think 1.5%, hardly worth the effort in moving it around. I know there’s bigger problems out there but encouraging savings seems to be the forgotten job of Government :dunno: I don’t have the stats but personal savings in most European countries dwarf ours. I suppose in this country we’re always encouraged to use savings to buy a house and become somebody else’s landlord instead …

[matty_f]

Agree savings rates should be increased too, but very few folk will be in a position to save with gas/elec bills having doubled, mortgage payments going through the roof and the cost of groceries up massively too.

This whole situation is mental. Inflation isn't being driven by demand, but supply side issues. I can see interest rates need to rise to try and protect sterling, but the increased cost of borrowing will drive more folk into destitution and collapse of housing market.

There will be a sizeable chunk of the population who will have thousands more to save thanks to tax cuts for the richest, thankfully for the rest of us there's no way they're going to stick it in savings, it's all going straight back into the retail etc so we can all benefit from it.

Yay Tories!

[James310]

I’ve had saving accounts for the kids since they’ve been little, I just put an small amount in each month I barely notice. Even if you’re clever and change it to a short term ISA the best interest rate for me is i think 1.5%, hardly worth the effort in moving it around. I know there’s bigger problems out there but encouraging savings seems to be the forgotten job of Government :dunno: I don’t have the stats but personal savings in most European countries dwarf ours. I suppose in this country we’re always encouraged to use savings to buy a house and become somebody else’s landlord instead …

Did you consider a junior stocks & shares ISA for the kids? A cash ISA at this moment in time is just eroding your money due to inflation. I have some junior ISAs for my kids and while you see the ups and downs over the long term (16 years basically) they are miles ahead in returns compared to cash ISAs.

Although I should point out it comes with risk, but there are different levels of risk you can select.

There are even ethical investment type ISAs.

https://www.scottishfriendly.co.uk/isas/junior-isa/my-ethical-select-junior-isa

[hibsbollah]

Did you consider a junior stocks & shares ISA for the kids? A cash ISA at this moment in time is just eroding your money due to inflation. I have some junior ISAs for my kids and while you see the ups and downs over the long term (16 years basically) they are miles ahead in returns compared to cash ISAs.

Although I should point out it comes with risk, but there are different levels of risk you can select.

There are even ethical investment type ISAs.

https://www.scottishfriendly.co.uk/isas/junior-isa/my-ethical-select-junior-isa

Thank you. I am pretty clueless about such matters.

[Ozyhibby]

@saylor
Over the past year currencies have collapsed against the dollar:

CAD -8%, CNY -9%, AUD -11%, ZAR -17%, KRW -18%, EUR -18%, PLN -21%, GBP -22%, JPY -23%, TRY -52%

https://uploads.tapatalk-cdn.com/20220927/2c37de1226e7bfd06b1c2938be970f55.jpg


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[hibsbollah]

I’m very much enjoying the Daily Express front page ‘Germans Declare War On Our £’…yes, that’s a fair take on the current situation :rolleyes:

[Oscar T Grouch]

Most of the noise is hyperbolic. Media frenzy now the Queen has been buried.

The Euro is trading at around 82% of its value v the $ from 5 years ago. The £ around 80%.

The story is really the strength of the dollar.

It really isn't, these falls are unprecedented and combined with the cost of the UK government borrowing, which has seen two massive increases, one on Friday after the budget and one yesterday once the markets realised what the tory plan is, means there is no way to control the GBP drop apart from a rise in interest rates, they are saying a rise to 6% by the end of October!! The Bank of England is not meant to meet again until November, but there are calls for immediate emergency action i.e. meet earlier and raise interest rates to prevent the GBP from falling further.

Rumours are that Truss already has letters of no confidence submitted and if the whispers of Westminster are correct the trickle will turn to a deluge when the GBP reaches parity with the USD (which will happen without the Bank of England stepping in). It is going to be an interesting week in politics and economics, everyone bar the tories are saying the tories strategy has no way of succeeding.

[grunt]

It is going to be an interesting week in politics and economics, everyone bar the tories are saying the tories strategy has no way of succeeding.
I think that not even all the Tories are saying it will succeed.

https://www.thetimes.co.uk/article/tories-fear-a-world-of-pain-if-housing-market-crashes-9x8shgvpd


Ministers have warned that the Conservative Party is facing a “world of pain”, stemming from fears that voters will punish them for Kwasi Kwarteng’s tax cuts for high earners.

Liz Truss is facing a backlash from her own government after the value of the pound plummeted in the wake of Kwarteng’s £45 billion tax-cutting budget, announced on Friday.

[Zambernardi1875]

Did you consider a junior stocks & shares ISA for the kids? A cash ISA at this moment in time is just eroding your money due to inflation. I have some junior ISAs for my kids and while you see the ups and downs over the long term (16 years basically) they are miles ahead in returns compared to cash ISAs.

Although I should point out it comes with risk, but there are different levels of risk you can select.

There are even ethical investment type ISAs.

https://www.scottishfriendly.co.uk/isas/junior-isa/my-ethical-select-junior-isa

Do you work at Scottish friendly? I know a Jambo who does

[Kato]

https://twitter.com/Ianblackford_MP/status/1574723718525378564?t=_xbnGx0sD_cbMwxsPVv_DA&s=19

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[grunt]

https://www.bloomberg.com/news/articles/2022-09-27/uk-markets-have-lost-500-billion-since-truss-took-over?utm_campaign=socialflow-organic&utm_content=bloomberguk&utm_source=twitter&utm_medium=social&cmpid%3D=socialflow-twitter-bloomberguk&leadSource=uverify%20wall


The UK’s stock and bond markets have lost at least $500 billion in combined value since Liz Truss took over as Prime Minister, with investor confidence shattered by a shock tax-cutting budget.

[James310]

Do you work at Scottish friendly? I know a Jambo who does

I don't, but have 2 Junior ISAs with them.

[WhileTheChief..]

Thank you. I am pretty clueless about such matters.

Check out Lifetime ISAs

You can save up to £3,000 pa with the govt topping it up to £4,000. They are cash only but a 25% uplift would be pretty hard to beat using investment funds without taking on way too much risk.

Needs to be used for a house purchase when it comes to withdrawing the funds or the kids would lose the top up. Alternatively they need to leave it there until they retire!

[WhileTheChief..]

The story is really the strength of the dollar.

Yup, and it will keep getting stronger. Whenever there is any form of global crisis, the dollar strengthens.

It's up 17% year to date, the largest rise in a year since 1972.

[James310]

Check out Lifetime ISAs

You can save up to £3,000 pa with the govt topping it up to £4,000. They are cash only but a 25% uplift would be pretty hard to beat using investment funds without taking on way too much risk.

Needs to be used for a house purchase when it comes to withdrawing the funds or the kids would lose the top up. Alternatively they need to leave it there until they retire!

There are a few providers do a Stocks and Shares lifetime ISA.

https://www.youinvest.co.uk/lifetime-isa

[Stairway 2 7]

Oh boy, horrible horrible time for people with mortgages that aren't fixed. Housing crisis unseen before coming up

EdConwaySky
·
57m
NEW
Money markets now pricing in a 1.5 per cent rise in interest rates at or before the next @Bankofengland meeting in Nov.
Expectations back up well above 6% next year.
All follows that speech from BoE’s Huw Pill hinting of big action to come

[grunt]

Telling it like it is

https://twitter.com/chakrabortty/status/1574802627866533888?s=20&t=WsnfCaUub7deLnqECwkHhA

[grunt]

Telling it like it is - Richard Murphy

Skip to 5 minutes in (if you don't want to hear the Bowie track) https://www.bbc.co.uk/sounds/play/m001c7j4

Gets in a good dig at the IEA too.

[CropleyWasGod]

The IMF having their say...

https://twitter.com/faisalislam/status/1574845873154101261?t=00Q8X1RJSQoUn4y9HMhhMQ&s=19

[Hibrandenburg]

That’s a very fair point. What I would say is that as money becomes more “expensive” for banks and other lenders to obtain from the market, they might then start to raise savings rates to attract deposits ( more of a return to how banks etc used to operate). Whether anyone has much money to put away is another question …

The only people who win from that scenario are those whose income far outweighs their outgoings. After this last budget, the rich are not only increasing their wealth on the money they accumulate, but also on the money they have in the bank, win win for them, lose lose for the poor.

[Hibernia&Alba]

Oh boy, horrible horrible time for people with mortgages that aren't fixed. Housing crisis unseen before coming up

EdConwaySky
·
57m
NEW
Money markets now pricing in a 1.5 per cent rise in interest rates at or before the next @Bankofengland meeting in Nov.
Expectations back up well above 6% next year.
All follows that speech from BoE’s Huw Pill hinting of big action to come

Yes, there was an interesting piece on the news earlier. If interest rates do reach 6% from their current 4.75%, a 200,000 mortgage will increase by 600 per month. That would be a world of pain for a lot of people. It does seem inevitable that interest rates will be increasing by quite a lot soon.

[Stairway 2 7]

Yes, there was an interesting piece on the news earlier. If interest rates do reach 6% from their current 4.75%, a 200,000 mortgage will increase by 600 per month. That would be a world of pain for a lot of people. It does seem inevitable that interest rates will be increasing by quite a lot soon.

That's actually horrendous

[wookie70]

Yes, there was an interesting piece on the news earlier. If interest rates do reach 6% from their current 4.75%, a 200,000 mortgage will increase by 600 per month. That would be a world of pain for a lot of people. It does seem inevitable that interest rates will be increasing by quite a lot soon.

James O'Brien did a piece about the difference between interest rates in teh 70s and now. I think he said 6% would be the equivalent of 20% back then due to how much bigger the mortgage to wage ratio is now. On top of that you have large increases in domestic fuel and high interest with Unions that are far weaker. Workers who are feeling like they are winning disputes are getting 5% or more poorer with worse to come. Worst of all I still don't think we have reached peak Tory

[Mr Grieves]

Bold stuff from Kwarteng which will hopefully kick-start the economy. Hopefully the Scottish government will see sense and follow suit.

Going well eh?

[Ozyhibby]

https://twitter.com/itvborderrb/status/1574823878437867522?s=46&t=EMcTIMs-yfzyleJZqid0MQ

Let’s not forget this is supported by the Scottish Tories.[emoji35]


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[Hibernia&Alba]

https://twitter.com/itvborderrb/status/1574823878437867522?s=46&t=EMcTIMs-yfzyleJZqid0MQ

Let’s not forget this is supported by the Scottish Tories.[emoji35]


Sent from my iPhone using Tapatalk

Of course they do, and wee Dougie is a disgrace.

[Ozyhibby]

https://twitter.com/simon_nixon/status/1574874755064291328?s=46&t=EMcTIMs-yfzyleJZqid0MQ

US treasury Secretary now calling them out.


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[JJP]

Couldn't be worse timing for me. Anxiety has been through the roof today. My current fixed rate deal ends in 7 months. I'm probably going to have to find £3k to exit my current agreement early to get a fixed rate over the next 5 years which is £150 more expensive per month. Hopefully I can get the agreement in place before any more interest rate rises. As if I didn't despise the Tories enough already...

[Hibernia&Alba]

Couldn't be worse timing for me. Anxiety has been through the roof today. My current fixed rate deal ends in 7 months. I'm probably going to have to find £3k to exit my current agreement early to get a fixed rate over the next 5 years which is £150 more expensive per month. Hopefully I can get the agreement in place before any more interest rate rises. As if I didn't despise the Tories enough already...

Yes, and the banks are pulling some of their mortgage offers, as they know what's coming. I hope you find a workable solution.

[cabbageandribs1875]

i'd heard a few times about Kwarteng and Truss recently, but i did know she cheated on her husband years ago

(1) Bish ��*�� on Twitter: "Ironically, Truss knows all too well what a weak pound from #KwasiKwarteng feels like ��*♀️" / Twitter (https://twitter.com/bishy29/status/1574385857594802176)



i didn't realise he had a relationship with Amber Rudd as well Kwasi Kwarteng and Amber Rudd relationship led to shock scandal inclusion (thefocus.news) (https://www.thefocus.news/culture/kwasi-kwarteng-and-amber-rudd-relationship-led-to-shock-scandal-inclusion/)

[Stairway 2 7]

i'd heard a few times about Kwarteng and Truss recently, but i did know she cheated on her husband years ago

(1) Bish ��*�� on Twitter: "Ironically, Truss knows all too well what a weak pound from #KwasiKwarteng feels like ��*♀️" / Twitter (https://twitter.com/bishy29/status/1574385857594802176)



i didn't realise he had a relationship with Amber Rudd as well Kwasi Kwarteng and Amber Rudd relationship led to shock scandal inclusion (thefocus.news) (https://www.thefocus.news/culture/kwasi-kwarteng-and-amber-rudd-relationship-led-to-shock-scandal-inclusion/)

I'm not that bothered about that in any way tbh honest. I'm more bothered that their deliberate plans to help the highest earners is going to cause absolute misery for millions this year. Snakes

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20220928/f12438beedbd24775ccfb494ed8fb879.jpg

These people are going to go for spending cuts on a level we haven’t seen before. Terrifying. No doubt unionists in Scotland will blame the SNP for not protecting us from them.


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[GlesgaeHibby]

Couldn't be worse timing for me. Anxiety has been through the roof today. My current fixed rate deal ends in 7 months. I'm probably going to have to find £3k to exit my current agreement early to get a fixed rate over the next 5 years which is £150 more expensive per month. Hopefully I can get the agreement in place before any more interest rate rises. As if I didn't despise the Tories enough already...

It's absolutely brutal just now. If there's one crumb of comfort you may be able to apply for a remortgage this week and avoid early repayment fees as offers are usually valid for 6 months. I'd imagine the time to process applications has increased due to volume. When I applied for a remortgage deal at end of march it took just over 3 weeks for the offer to come through.

[GlesgaeHibby]

https://uploads.tapatalk-cdn.com/20220928/f12438beedbd24775ccfb494ed8fb879.jpg

These people are going to go for spending cuts on a level we haven’t seen before. Terrifying. No doubt unionists in Scotland will blame the SNP for not protecting us from them.


Sent from my iPhone using Tapatalk

Richard Murphy summed it up well when he destroyed the IEA shill on Jeremy Vine yesterday with "bye bye NHS".

Truly horrific state of affairs.

[Hibernia&Alba]

Bloomberg UK: UK financial markets have lost a combined $500 billion in value since Liz Truss became PM. That's roughly $1 billion per hour.

[GlesgaeHibby]

Apparently the markets haven't been spooked by the mini budget, but by the prospect of Keir Starmer becoming PM. Getting more and more desperate now

https://twitter.com/mrjamesob/status/1575029847075610624?t=C-b9ISXAXLXV1NLPEB4lJg&s=19

[Moulin Yarns]

From twitter


Today’s poem is called ‘An Incomplete List of Things More Capable of Running the Country than the Current Government (reprise)’.

https://twitter.com/brian_bilston/status/1575023292104159232?t=dxfBDihLFGclKPv_HPwFqg&s=19

[Stairway 2 7]

Apparently the markets haven't been spooked by the mini budget, but by the prospect of Keir Starmer becoming PM. Getting more and more desperate now

https://twitter.com/mrjamesob/status/1575029847075610624?t=C-b9ISXAXLXV1NLPEB4lJg&s=19

That's desperate. They are like the typical Eton school bully that refuses to take the blame

[Ozyhibby]

https://www.theguardian.com/money/2022/may/06/how-long-can-uk-house-prices-defy-gravity

A wee insight in to the level of pain anyone with a mortgage is about to face.


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[grunt]

Apparently the markets haven't been spooked by the mini budget, but by the prospect of Keir Starmer becoming PM. Getting more and more desperate now

https://twitter.com/mrjamesob/status/1575029847075610624?t=C-b9ISXAXLXV1NLPEB4lJg&s=19This begs the question why do the markets suddenly think that Starmer might be PM?

[hibsbollah]

https://www.theguardian.com/money/2022/may/06/how-long-can-uk-house-prices-defy-gravity

A wee insight in to the level of pain anyone with a mortgage is about to face.


Sent from my iPhone using Tapatalk

Some friends of mine have just had to downsize due to health issues. They put their modest bungalow in Craiglockhart with a bit of a rubbish extension on the market for 460k, a couple of weeks ago, their agent told them to put it on at 420k. They got a firm offer that was accepted 48 hours later for 620k. The market is insane, and although I was pleased for them it made me angry for my 3 kids who won’t ever be able to get on the property ladder like I did. It was never sustainable.

[Kato]

This begs the question why do the markets suddenly think that Starmer might be PM?Someone further down the thread jokingly saying Meghan Markle is to blame.


The sad, weird and totally inexplicable situation we live means those tropes actually gain traction.



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[grunt]

Patrick Minford, economist to the Government


There is no sterling crisis, except in the minds of idiotsIt is important to leave the pound free to find the level that will allow the Government's pro-growth policies to work

https://www.telegraph.co.uk/news/2022/09/27/no-sterling-crisis-except-minds-idiots/

[CropleyWasGod]

Patrick Minford, economist to the Government



https://www.telegraph.co.uk/news/2022/09/27/no-sterling-crisis-except-minds-idiots/

There is some merit in allowing the pound to devalue as it has been. That makes UK exports, and its tourism market, more attractive to others. However, that is only working at the moment in relation to the $.

[SHODAN]

And people wonder why we're ****ing striking.

[Bostonhibby]

Some friends of mine have just had to downsize due to health issues. They put their modest bungalow in Craiglockhart with a bit of a rubbish extension on the market for 460k, a couple of weeks ago, their agent told them to put it on at 420k. They got a firm offer that was accepted 48 hours later for 620k. The market is insane, and although I was pleased for them it made me angry for my 3 kids who won’t ever be able to get on the property ladder like I did. It was never sustainable.whole affair since Kwasi helped his hedge fund manager pal fill his boots is scandalous, and such a shame for many aspirational people.

Truss will be along to tell us a big boy done it and ran away, scruffy b*****, children all over the place, prone to telling lies and likes a good illegal party, that sort of thing..........

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[grunt]

There is some merit in allowing the pound to devalue as it has been. That makes UK exports, and its tourism market, more attractive to others.
A shame that we've reduced the number of UK companies exporting (to the EU) by a third because of Brexit.

A shame that we've done untold damage to the tourism industry by sending so many EU workers away from the UK because of Brexit.

[hibsbollah]

A shame that we've reduced the number of UK companies exporting (to the EU) by a third because of Brexit.

A shame that we've done untold damage to the tourism industry by sending so many EU workers away from the UK because of Brexit.

:agree: Yes, those two potential benefits of a weak pound have been taken away. Hospitality especially in rural areas has been decimated, everywhere is desperate for staff. Which will inevitably lead to worse service and levels of customer spend and satisfaction at best, or companies just going under at worst.

[Just_Jimmy]

David Cameron will rot in hell for the part he played in this.

Caused it to appease back benchers, left the door open to the racists, the xenophobs, the liars, the cheats and the fascists and then he ran away.



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[Hibernia&Alba]

David Cameron will rot in hell for the part he played in this.

Caused it to appease back benchers, left the door open to the racists, the xenophobs, the liars, the cheats and the fascists and then he ran away.



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Correct. The Brexit referendum was promised in order to prevent the Tories losing a huge number of votes to UKIP. It was political expediency, and history will judge him harshly as someone who was reckless with the country's future.

[hibsbollah]

Correct. The Brexit referendum was promised in order to prevent the Tories losing a huge number of votes to UKIP. It was political expediency, and history will judge him harshly as someone who was reckless with the country's future.

Funnily enough, UKIP now run the country. That’s who the new Tories are in all but name.

[grunt]

Bank of England steps in to calm markets

https://pbs.twimg.com/media/FdvDM1XWAAcOUZs?format=jpg&name=large

Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability.

[hibsbollah]

Patrick Minford, economist to the Government



https://www.telegraph.co.uk/news/2022/09/27/no-sterling-crisis-except-minds-idiots/

I read his stuff when I was a student. Chicago school, Thatchers inspiration. It’s like Hegel or Marx being quoted in the paper, totally outdated and with limited relevance to modern economic realities.

[grunt]

I read his stuff when I was a student. Chicago school, Thatchers inspiration. It’s like Hegel or Marx being quoted in the paper, totally outdated and with limited relevance to modern economic realities.
Yes but it's worse than just being quoted in the paper. I could cope with that. This particular idiot is guiding the decisions of Truss and Kwarteng and demonstrably crashing the UK economy.

[hibsbollah]

Run! Run!

Good morning from Citi: "We see no near-term end to the UK’s fiscal woes. We recommend selling GBPUSD via a Put spread with strikes at 1.00/0.95 and expiry on 28 Dec 2022"

[cabbageandribs1875]

quite astonishing, but at least hedge fund managers have made a mint, now, let's talk about those damn ferries in Scotland

https://scontent.fman1-1.fna.fbcdn.net/v/t39.30808-6/306355265_1998041950386580_1129921420299065245_n.j pg?stp=cp6_dst-jpg&_nc_cat=111&ccb=1-7&_nc_sid=5cd70e&_nc_ohc=FbIIekVjuEsAX_1_gY7&tn=vIvSFNl06GFFe0Qb&_nc_ht=scontent.fman1-1.fna&oh=00_AT_hB6FCM5vX7zW7UWdD6Bpc8N5X2XqOq7Yn3zBPGk9M Lg&oe=6339F125

[ronaldo7]

Kwarteng should resign, and he should take the rest of them with him.

[Ozyhibby]

https://twitter.com/joncraig/status/1575097431015903232?s=46&t=bcFCMy8XTfPK9cN6nFkIow

Tories boycotting Tories.[emoji849]


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[The_Exile]

This is a two-year cash grab, it's obvious. There's only one tiny minority of people who would stand to gain from Sterling losing it's value like this.

[cabbageandribs1875]

Liz Truss City backers 'made small fortunes betting against plunging pound', report claims (yahoo.com) (https://uk.finance.yahoo.com/news/liz-truss-city-backers-made-101155175.html)


LIZ Truss-supporting investors made “small fortunes” as the value of the pound plummeted following the radical Conservative (https://www.thenational.scot/politics/tories/) budget announced on Friday, a report has claimed.

An anonymous source quoted in the Sunday Times (https://www.thetimes.co.uk/article/biscotti-mini-budget-exposes-gulf-between-liz-truss-and-keir-starmer-and-more-tax-cuts-are-on-the-cards-j2mj5zncs) told the paper they had attended a dinner with hedge-fund managers who were said to have won big betting against the pound last week.
They were quoted as saying: “They were all supporters of Truss and every one of them was shorting the pound.”



i'm sure wee Liz O'Leary will have a cayman island account to collect her cut :agree:

[GlesgaeHibby]

https://twitter.com/EdConwaySky/status/1575128310740389889?t=_DGuujYCORNGgvjQMgUIgg&s=19

Bank had to intervene to avoid mass insolvencies of pension funds...surely no way Truss and Kwarteng survive this.

[WhileTheChief..]

Yup, don’t see how they survive the next few days, never mind weeks or months.

Have Labour been calling for a general election? They should be.

I’d expect one fairly soon.

[grunt]

Yup, don’t see how they survive the next few days, never mind weeks or months.

https://twitter.com/ShehabKhan/status/1575138256643031044?s=20&t=r3IcwKWOXuzTS1xaCoKGUA


NEW: Treasury sources say the Chancellor Kwasi Kwarteng will not be resigning and there will be no U-turn on the policy.

[grunt]

With every passing day Sunak appears to be a much better option

https://twitter.com/OhGodWhatNowPod/status/1575130733986910208?s=20&t=r3IcwKWOXuzTS1xaCoKGUA

[grunt]

Peston

https://twitter.com/Peston/status/1575134811789955072?s=20&t=r3IcwKWOXuzTS1xaCoKGUA


Here is one way of seeing the scale of the markets rout that was close to wiping out pension funds. At start of year, 40-year gilt (government bond) with a 0.5% coupon was worth 85p. This morning it was trading at 25p and even after Bank of England intervention it's 34p.

[Ozyhibby]

https://twitter.com/zelenskyyua/status/1575140579251556352?s=12

Truss comes out of hiding with a call to Zelensky. A familiar tactic. [emoji23]


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[neil7908]

https://twitter.com/zelenskyyua/status/1575140579251556352?s=12

Truss comes out of hiding with a call to Zelensky. A familiar tactic. [emoji23]


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Ukraine will be the ones sending us financial support at this rate.

[DaveF]

Whatever they are doing, can they please stop. The small shareholding I have is heading downhill faster than an Olympic skier.

[Stairway 2 7]

Ukraine will be the ones sending us financial support at this rate.

Since truss has come in the pound has fallen against the Ukrainian hryvnia. They are in literal ******g war for there national survival, but the markets think we're more unstable

[Ozyhibby]

https://twitter.com/jessicaelgot/status/1575160154794127360?s=46&t=bcFCMy8XTfPK9cN6nFkIow


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[Just Alf]

Whatever the SNP paid Truss to do this is working a treat... I cant find anyone at work that now wants to be part of the UK!

[Torto7]

I posted about more QE a while back with higher interest rates. It will get hammered but the bank has done the right thing here. Brutal on mortgage holders though and public services are again going to be slashed and the only thing left is the NHS the big target for the Libertarians. There's systematic fraud going on at a scale we've not seen before alongside ideological war. Yet the awful system of mutual back scratching in the UK blocks any ability to stop it. Shame on any Tory who can see what is going on and keeps quiet. Rats.

I long for independence.

[grunt]

I posted about more QE a while back with higher interest rates. It will get hammered but the bank has done the right thing here. Brutal on mortgage holders though and public services are again going to be slashed and the only thing left is the NHS the big target for the Libertarians. There's systematic fraud going on at a scale we've not seen before alongside ideological war. Yet the awful system of mutual back scratching in the UK blocks any ability to stop it. Shame on any Tory who can see what is going on and keeps quiet. Rats.

I long for independence.
:top marks

[Ozyhibby]

I posted about more QE a while back with higher interest rates. It will get hammered but the bank has done the right thing here. Brutal on mortgage holders though and public services are again going to be slashed and the only thing left is the NHS the big target for the Libertarians. There's systematic fraud going on at a scale we've not seen before alongside ideological war. Yet the awful system of mutual back scratching in the UK blocks any ability to stop it. Shame on any Tory who can see what is going on and keeps quiet. Rats.

I long for independence.

https://podcasts.apple.com/gb/podcast/the-news-agents/id1640878689?i=1000580932708

Today’s Newsagents podcast has an interesting piece on the libertarian think tanks behind Truss and Kwarting. It’s a decent listen all the way through but the think tank thing starts in second half.


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[Hibernia&Alba]

James O'Brien has Tory 'logic' sussed:


https://youtu.be/mUF3BM-Di5M

[Since90+2]

Whatever the SNP paid Truss to do this is working a treat... I cant find anyone at work that now wants to be part of the UK!

I have seen a few comments along these lines, and appreciate some are probably tongue in cheek, but this really isn't good for anyone, independence supporter or not.

Unless they get a handle on this, and very very quickly, then a lot of people are going to be really badly effected by what is going on at the moment. If you own a home, regardless of whereabouts in Scotland, and are planning to sell within the next 2-3 years or are currently trying to get a mortgage and are currently buying at today's prices,I'd be extremely worried.

[Ozyhibby]

I have seen a few comments along these lines, and appreciate some are probably tongue in cheek, but this really isn't good for anyone, independence supporter or not.

Unless they get a handle on this, and very very quickly, then a lot of people are going to be really badly effected by what is going on at the moment. If you own a home, regardless of whereabouts in Scotland, and are planning to sell within the next 2-3 years or are currently trying to get a mortgage and are currently buying at today's prices,I'd be extremely worried.

I think anyone not on a fixed rate is going to be feeling some very real pain soon.


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[B.H.F.C]

I think anyone not on a fixed rate is going to be feeling some very real pain soon.


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Currently fixed until January 2024. Not looking forward to the end of next year when I’ll be looking to renew as this ain’t going to be fixed any time soon.

At least I have a bit time to plan and look at things. If you’re not fixed at this moment you’re in a bit of bother.

[Kato]

Lots of people saying they are crackpots and crazy but from their perspective this a pure ERG regime. No other faction has much of a foothold with Truss or Quasi. Part of that groups remit is just to destroy and wreck things, then cash in on the wreckage and the alternative "supply side" which is being built around us.

Even if they u-turn tomorrow there is enough damage being done this week to make it worthwhile.

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[SHODAN]

I think anyone not on a fixed rate is going to be feeling some very real pain soon.


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When we bought our house in December 2020 we went for a five year fixed rate for an anticipated recession. Best decision we've ever made.

This is actually exceeding my imagined worst-case scenario.

[Keith_M]

Lots of people saying they are crackpots and crazy but from their perspective this a pure ERG regime. No other faction has much of a foothold with Truss or Quasi. Part of that groups remit is just to destroy and wreck things, then cash in on the wreckage and the alternative "supply side" which is being built around us.

Even if they u-turn tomorrow there is enough damage being done this week to make it worthwhile.

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Let's just take a moment to remind ourselves of who exactly is responsible for Truss & Co currently being in the position they are:


-- The Conservative MPs, that whittled down the candidates to the final two

-- The 81,326 Conservative Party Members in the final vote that chose Truss


...and not forgetting all those that voted Tory in the last General Election that helped lay the groundwork for such a scenario




Well done guys and gals, what an achievement, you must all be soooo proud.


:clapper:

[Glory Lurker]

At what point in divergence from the rational approach does an elected government become a coup?

[CapitalGreen]

...and not forgetting all those that voted Tory in the last General Election that helped lay the groundwork for such a scenario

Well done guys and gals, what an achievement, you must all be soooo proud.


:clapper:

Including those who knew it would be a disaster but still voted for them anyway :clapper:

[Kato]

Let's just take a moment to remind ourselves of who exactly is responsible for Truss & Co currently being in the position they are:


-- The Conservative MPs, that whittled down the candidates to the final two

-- The 81,326 Conservative Party Members in the final vote that chose Truss


...and not forgetting all those that voted Tory in the last General Election that helped lay the groundwork for such a scenario




Well done guys and gals, what an achievement, you must all be soooo proud.


:clapper:Let's be fair though, she got elected as leader on the back of trying to look like loose approximation of Thatcher and slagging off Sturgeon, Macron, Sunak, Mordaunt, yon American actress lassie, the Irish, the British working class, et al.....

You can't really blame them, poor souls.

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[Kato]

At what point in divergence from the rational approach does an elected government become a coup?That happened in 2016, GL.

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[Kato]

Quite droll from Rishi Sunak.

https://www.lbc.co.uk/news/rishi-sunak-will-not-attend-the-conservative-party-conference/

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[Torto7]

https://podcasts.apple.com/gb/podcast/the-news-agents/id1640878689?i=1000580932708

Today’s Newsagents podcast has an interesting piece on the libertarian think tanks behind Truss and Kwarting. It’s a decent listen all the way through but the think tank thing starts in second half.


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Thanks I'll have a listen when I get a minute it sounds interesting.

[Torto7]

Lots of people saying they are crackpots and crazy but from their perspective this a pure ERG regime. No other faction has much of a foothold with Truss or Quasi. Part of that groups remit is just to destroy and wreck things, then cash in on the wreckage and the alternative "supply side" which is being built around us.

Even if they u-turn tomorrow there is enough damage being done this week to make it worthwhile.

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Bingo. It's been a plan for a long time. The fact a large part of the UK legal and media seems to be in cahoots or toothless should scare the bejaysus out of everyone. Quite a big statement from the Yanks today. They're in a similar boat with Dumps stock market spree and the inflationary bounce it caused although after 08 the mortgage sector is a little healthier than the UK's where a lot of people are coming off fixed rates and are going to see some scary numbers coming through the letter box alongside brutal energy bills.

[grunt]

At what point in divergence from the rational approach does an elected government become a coup?
That happened about 6 years ago.

[Stairway 2 7]

Oh dear


Ed Conway
@EdConwaySky
·
9h
A few more nuggets to flesh out Sam’s thread, based on a series of conversations with people in and close to government over recent days.
To echo Sam, they have two overarching messages:
1. Market chaos is NOT a consequence of Friday’s statement
2. No change in plans, whatsoever

[Callum_62]

I agree on point 1

Its sheer coincidence that all went to hell just after that statement

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[WhileTheChief..]

Let's just take a moment to remind ourselves of who exactly is responsible for Truss & Co currently being in the position they are:


-- The Conservative MPs, that whittled down the candidates to the final two

-- The 81,326 Conservative Party Members in the final vote that chose Truss


...and not forgetting all those that voted Tory in the last General Election that helped lay the groundwork for such a scenario




Well done guys and gals, what an achievement, you must all be soooo proud.


:clapper:

Nah I’m not taking the blame for anything!!

I have an SNP MP so the fact I voted Conservative means nothing.

Nobody voted for Truss or for the actions in the mini budget - absolutely nobody. It’s entirely on the govt this time around.

[hibsbollah]

Truss saying on the radio it’s an international situation. Nowt to do with me guv.

[Moulin Yarns]

Nah I’m not taking the blame for anything!!

I have an SNP MP so the fact I voted Conservative means nothing.

Nobody voted for Truss or for the actions in the mini budget - absolutely nobody. It’s entirely on the govt this time around.

And how did they get into government? Some members of public voted them in!!!

[Scorrie]

I’ve said it before but I think Truss may very well be emptied in the next week. The Tory conference is likely to be a complete **** show and they have painted themselves into a corner so no more giveaways. November is likely to see some huge public sector cuts proposed as well to make up for this mess

[Paulie Walnuts]

Nah I’m not taking the blame for anything!!

I have an SNP MP so the fact I voted Conservative means nothing.

Nobody voted for Truss or for the actions in the mini budget - absolutely nobody. It’s entirely on the govt this time around.

Seeing as we have a Tory government, I’m not quite sure how anyone can possibly claim that voting Tory means nothing :confused:

If people didn’t vote Tory, we wouldn’t have a Tory government, Liz Truss, BoJo etc.

[Callum_62]

Man who gave vote to a party lead by a known liar and charlatan refuses to accept responsibility when we are lead by liars and charlatans

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[Bostonhibby]

Truss saying on the radio it’s an international situation. Nowt to do with me guv.So she's put her head nearly above the parapet, not exactly leading from the front at a time of national crisis, but how could she since the crisis didn't exist until she rubber stamped Kwasi's masterplan to enrich his hedge fund pal.

Utterly out her depth, there's an awful lot of tory voters round here and now they have seen it first hand their self interest has resulted in some pretty disparaging remarks about their leader and chancellor.

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[Jones28]

Truss sounding like a true leader, if you like your leaders to sound like a drunk trying to make a point about something they know **** all about.

https://twitter.com/dinosofos/status/1575389891453648901?s=20&t=Hj8wggtLzqtYcdsGu84y0Q

[hibsbollah]

Truss sounding like a true leader, if you like your leaders to sound like a drunk trying to make a point about something they know **** all about.

https://twitter.com/dinosofos/status/1575389891453648901?s=20&t=Hj8wggtLzqtYcdsGu84y0Q

I disagree. She doesn’t sound like a drunk at all. A drunk person could at least wing it and sound convincing. She sounds like someone in the middle of a deep hangover with panic anxiety. And to think she deliberately chose the local radio stations to avoid hostile difficult questioning.

I honestly think if it was a Labour government (far less a socialist government) presiding over this mess, the newspapers would be calling for military intervention to remove the government for the sake of the nation.

[Ozyhibby]

I disagree. She doesn’t sound like a drunk at all. A drunk person could at least wing it and sound convincing. She sounds like someone in the middle of a deep hangover with panic anxiety. And to think she deliberately chose the local radio stations to avoid hostile difficult questioning.

She’ll do wonders for anyone out there who suffers from imposter syndrome.


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[hibsbollah]

She’ll do wonders for anyone out there who suffers from imposter syndrome.


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:faf:

Shhh, don’t tell Farage, he might try to get elected as an MP again. 9th time lucky Nige!

[wookie70]

I disagree. She doesn’t sound like a drunk at all. A drunk person could at least wing it and sound convincing. She sounds like someone in the middle of a deep hangover with panic anxiety. And to think she deliberately chose the local radio stations to avoid hostile difficult questioning.

I honestly think if it was a Labour government (far less a socialist government) presiding over this mess, the newspapers would be calling for military intervention to remove the government for the sake of the nation.

Local stations don't have to worry about the next time they get an audience. Much harder getting questions from someone who has nothing to lose asking them and everything to gain in getting noticed. I agree that she didn't sound drunk. Drunk people usually have a bit more confidence. She is similar to Johnson in that when asked a question. that they don't have a pre-written(by someone else) response to, they completely fall to bits. They have no conviction so are essentially trying to remember what lie they told last and then not contradict it. Quite enjoying some of the clips in a macabre kind of way. She is basically Johnson without the Latin and inbuilt self assurance of his upbringing. Tory voters are wholly responsible for this. Nothing is happening here that isn't entirely expected of every Tory Government and more so those in the last decade.

[Jones28]

Yepp HB is correct. Better put than I did definitely.

I think its because the way she speaks reminds me a bit of my mum when shes had a few, she buffers when trying to make any sort of point.

[Hibernia&Alba]

Truss sounding like a true leader, if you like your leaders to sound like a drunk trying to make a point about something they know **** all about.

https://twitter.com/dinosofos/status/1575389891453648901?s=20&t=Hj8wggtLzqtYcdsGu84y0Q

Oh, she's come out of hiding to give an interview to local radio. Her performance in that wee clip is exactly why her advisors keep her away from interviews and debates; she is an idiot.

[WhileTheChief..]

Seeing as we have a Tory government, I’m not quite sure how anyone can possibly claim that voting Tory means nothing :confused:

If people didn’t vote Tory, we wouldn’t have a Tory government, Liz Truss, BoJo etc.

Who has said that??

My vote is the very definition of a wasted vote due to my location.

It was over 2 years ago I voted. An awful lot has changed since then!

Nobody voted for the actions taken in the budget and nobody agrees with the actions taken by this govt.

[Jones28]

Who has said that??

My vote is the very definition of a wasted vote due to my location.

It was over 2 years ago I voted. An awful lot has changed since then!

Nobody voted for the actions taken in the budget and nobody agrees with the actions taken by this govt.

Do you think you'll vote differently when the time comes WTC?

[Ozyhibby]

Who has said that??

My vote is the very definition of a wasted vote due to my location.

It was over 2 years ago I voted. An awful lot has changed since then!

Nobody voted for the actions taken in the budget and nobody agrees with the actions taken by this govt.

You voted for them.


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[Jones28]

You voted for them.


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In fairness I don't think many could have foreseen what has happened since the last GE.

Not that I ever want to be in a position where I defend Conservative voting.

[Smartie]

In fairness I don't think many could have foreseen what has happened since the last GE.

Not that I ever want to be in a position where I defend Conservative voting.

I could actually imagine huge swathes of people who lent them their "Get Brexit Done" votes in the red wall areas and the like feeling let down to the point of pretty serious anger at the way it's all panned out.

The Tories have a weirder mix than ever. I could imagine the working class red wall lot being incensed. I could imagine the moderate, pro business but fairly common sense lot being pissed off.

It leaves them with a very small number of people who they actually still appeal to, albeit that cohort carry a fair bit of clout. And give the Tories a lot of money. And control the media.

[Kato]

In fairness I don't think many could have foreseen what has happened since the last GE.

Not that I ever want to be in a position where I defend Conservative voting.Yeah, because they sounded fair and sane at the last GE. Who wouldn't believe Boris Johnson's promise to build to 40 new hospitals.

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[WhileTheChief..]

Do you think you'll vote differently when the time comes WTC?

There’s no way I’d vote for them whilst Truss is PM.

The way things are going, I’d prob vote Labour next time around but I guess it depends on what happens between now and then.

[WhileTheChief..]

You voted for them.


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No, nobody got to vote for this govt.

At best, you could pin it on Tory party members. I’m not one.

[WhileTheChief..]

Yeah, because they sounded fair and sane at the last GE. Who wouldn't believe Boris Johnson's promise to build to 40 new hospitals.

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Boris talked about levelling up.

What Truss is doing is the polar opposite. Back when we voted at the GE, there was zero talk of tax cuts for the wealthiest.

[Moulin Yarns]

Boris talked about levelling up.

What Truss is doing is the polar opposite. Back when we voted at the GE, there was zero talk of tax cuts for the wealthiest.

Johnson may have talked about levelling up, but it transpired that involved Tunbridge Wells, an affluent area receiving more money than tilliecoutrie!! You were taken in by the lies!

What Truss is doing is acceleration of the increase in the poverty gap!

[Mr Grieves]

No, nobody got to vote for this govt.

At best, you could pin it on Tory party members. I’m not one.

:agree: correct, they don't have a mandate for what they're doing.

[Since90+2]

To put it politely, anybody who isn't extremely well off and votes Tory, is err, misguided.

[Hibernia&Alba]

A good take from Phil at A Different Bias, discussing the consequences of the hubris of Truss and Kwarteng. His analysis is often accurate, IMO.


https://youtu.be/hupygncALPI

[Jones28]

Yeah, because they sounded fair and sane at the last GE. Who wouldn't believe Boris Johnson's promise to build to 40 new hospitals.

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I don't really have any response here, I totally agree with your sentiment though.

[Jones28]

I could actually imagine huge swathes of people who lent them their "Get Brexit Done" votes in the red wall areas and the like feeling let down to the point of pretty serious anger at the way it's all panned out.

The Tories have a weirder mix than ever. I could imagine the working class red wall lot being incensed. I could imagine the moderate, pro business but fairly common sense lot being pissed off.

It leaves them with a very small number of people who they actually still appeal to, albeit that cohort carry a fair bit of clout. And give the Tories a lot of money. And control the media.

I really hope you're right.

[Kato]

Boris talked about levelling up.

What Truss is doing is the polar opposite. Back when we voted at the GE, there was zero talk of tax cuts for the wealthiest.Yet everyone was warned ,and there was ample proof at the time, that Boris Johnson lies about everything at every opportunity he'd rather take the piss than tell the truth.

Yet some people chose to believe he would actually deliver for the North of England. [emoji1787]

PT Barnum territory.

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[Since90+2]

Yet everyone was warned ,and there was ample proof at the time, that Boris Johnson lies about everything at every opportunity he'd rather take the piss than tell the truth.

Yet some people chose to believe he would actually deliver for the North of England. [emoji1787]

PT Barnum territory.

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Totally agree.

Anyone who voted for this Government is at least partially to blame for the current absolute ****show, you'd have to have lived in a cave for the past 5 years to think voting for the Conservative party at the last election was a good idea.

[hibsbollah]

There’s her Radio Stoke interview on bbc sounds, 8 minutes of a local Staffordshire hack giving her a mauling. She just sat in silence at some points. How can she stay in post when she is clearly incapable of getting simple points across in a coherent way? She’s going to make a fool of herself every time she can’t be hidden away by her party minders.

[WhileTheChief..]

Totally agree.

Anyone who voted for this Government is at least partially to blame for the current absolute ****show, you'd have to have lived in a cave for the past 5 years to think voting for the Conservative party at the last election was a good idea.

That maybe applies to those who have a Conservative MP, but how can it apply to those who have an MP from a different party?

My MP is probably dead against everything that has happened, given that’s from the SNP.

How can I in any way be partially to blame for this? You’re just looking for a bogeyman.

[grunt]

How can I in any way be partially to blame for this? You’re just looking for a bogeyman.
"I voted for them in the election but I'm not responsible for what they're doing ...?"

[Stairway 2 7]

Anyone that votes tory has either been fooled or is driven by self interest in some way, obviously a lazy generalisation but I'll go with it.

Saying that I think it's shocking that the voters who voted tory voted for certain policies and the government had a mandate to cary that out. Truss has come in and went a completely different way to what they voted for. It shouldn't be allowed to happen they should call a general election if they are going to completely go away from what they campaigned on

[WhileTheChief..]

"I voted for them in the election but I'm not responsible for what they're doing ...?"

If Sturegon resigned tomorrow and her replacement was dead against Indy, would that be your fault?

My MP is SNP. Same as most of you probably.

[grunt]

Saying that I think it's shocking that the voters who voted tory voted for certain policies and the government had a mandate to cary that out. Truss has come in and went a completely different way to what they voted for. It shouldn't be allowed to happen they should call a general election if they are going to completely go away from what they campaigned on
A. It's not just Truss; Johnson also broke his manifesto promises.

B. The Tories had amply demonstrated in the years following the referendum that they were liars and could not be trusted. So you could argue that anyone trusting them in 2019 to keep to their manifesto was at best gullible, at worst complicit.

[grunt]

If Sturegon resigned tomorrow and her replacement was dead against Indy, would that be your fault?

My MP is SNP. Same as most of you probably.
You voted for them because you wanted them in power. You got your wish. Now at least own it.

[Since90+2]

That maybe applies to those who have a Conservative MP, but how can it apply to those who have an MP from a different party?

My MP is probably dead against everything that has happened, given that’s from the SNP.

How can I in any way be partially to blame for this? You’re just looking for a bogeyman.

I don't have to look for a bogeyman, it's in plain sight. You can't vote for a party at a national election and then claim you have nothing to do with that party being in Government.

We all have the same power at the ballot box, one vote, so collectively everyone who voted Tory has had a hand in this disaster.

[Stairway 2 7]

A. It's not just Truss; Johnson also broke his manifesto promises.

B. The Tories had amply demonstrated in the years following the referendum that they were liars and could not be trusted. So you could argue that anyone trusting them in 2019 to keep to their manifesto was at best gullible, at worst complicit.

Tories getting a greedy horrible party can't be a shock to them. I'm just talking generally there should be protections against a new cabinet coming in and straying so far. They should have been made to get public approval

[Kato]

If Sturegon resigned tomorrow and her replacement was dead against Indy, would that be your fault?

My MP is SNP. Same as most of you probably.You won, get over it.

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[Bostonhibby]

Tories getting a greedy horrible party can't be a shock to them. I'm just talking generally there should be protections against a new cabinet coming in and straying so far. They should have been made to get public approvalAgree, when the Nasties presented themselves to the electorate last time they persuaded many with a manifesto swathes of which Bozo had no intention of delivering but many, whatever their logic bought into it.

I'm hard pushed in one of the largest Nasty party constituencies in the country to find anyone I know who would have voted for Truss and Kwasi's current mess.

The right thing to do would have been to deal with the fuel crisis temporarily as that's at best what she's done, then go to the country on this bizarre policy she is now nailed to so the public can say if they agree with it.

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[Stairway 2 7]

The scary thing is boris was just pretty thick, populist and didn't believe in much. These clowns and their backers actually believe in this mental policy

[Bostonhibby]

The scary thing is boris was just pretty thick, populist and didn't believe in much. These clowns and their backers actually believe in this mental policyA great many of them have been considerably enriched during Bozo's time and this is Truss continuing the theme for the few, I can't say who is pulling her strings but maybe the Kwarteng we witnessed at the queens funeral is the one whose chain has been pulled and Truss just follows because she believes he knows what he's doing?

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[WhileTheChief..]

Agree, when the Nasties presented themselves to the electorate last time they persuaded many with a manifesto swathes of which Bozo had no intention of delivering but many, whatever their logic bought into it.

I'm hard pushed in one of the largest Nasty party constituencies in the country to find anyone I know who would have voted for Truss and Kwasi's current mess.

The right thing to do would have been to deal with the fuel crisis temporarily as that's at best what she's done, then go to the country on this bizarre policy she is now nailed to so the public can say if they agree with it.

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Apologies, but I agree with all of this :greengrin

[WhileTheChief..]

You won, get over it.

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Won what?

Why you trying to make this personal?

[Kato]

Won what?

Why you trying to make this personal?Your party won. Your personal vote counted towards the calculation of the popular vote. I'm not seriously making it personal but you're attempting to wash your hands of any and all blame, so tough titty.

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[ronaldo7]

Boris talked about levelling up.

What Truss is doing is the polar opposite. Back when we voted at the GE, there was zero talk of tax cuts for the wealthiest.

Boris also talked about dying in a ditch.

Did you believe that too?

[Bostonhibby]

Apologies, but I agree with all of this :greengrin[emoji16] was bound to happen some time, no need for apologies.

I've quite a few friends and neighbours who are neither racist or as right wing as the current Nasty party has evolved into, they are more people who are set in their ways when they are comfortably off, and tend to be self sufficient financially but I wouldn't call them avid supporters of this current manifestation of the Nasties, particularly as it affects them.

Folk without a fundamentalist mentality have the ability to change their minds, hopefully we see that at the next election.

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[Keith_M]

That maybe applies to those who have a Conservative MP, but how can it apply to those who have an MP from a different party?

My MP is probably dead against everything that has happened, given that’s from the SNP.

How can I in any way be partially to blame for this? You’re just looking for a bogeyman.


So you voted Tory but didn't get the MP you wanted, so that's OK then,

:aok:

[Stairway 2 7]

There's a danger of a pile on verging on bullying here. The anger we have against a horrible party shouldn't be put on one or two people who voted for them. It's not fair it's a sub forum of a hibs website, they don't need it.

Surely people who voted for parties or in referendums against the way we want should be one round also. The only way you can get change is by people changing there vote. They are less likely if they are the enemy and treated like crap.

It's very personal. Anyone here want to admit they have shopped in a supermarket, then all of us can say you helped destroy the local shop. Anyone bought Nike or addidas stuff, because you personally help slave labour in the far East. I went across the world on holiday, so I'm a hypocrit for being worried about the climate. We've all got our sins

[Kato]

There's a danger of a pile on verging on bullying here. The anger we have against a horrible party shouldn't be put on one or two people who voted for them. It's not fair it's a sub forum of a hibs website, they don't need it.

Surely people who voted for parties or in referendums against the way we want should be one round also. The only way you can get change is by people changing there vote. They are less likely if they are the enemy and treated like crap.

It's very personal. Anyone here want to admit they have shopped in a supermarket, then all of us can say you helped destroy the local shop. Anyone bought Nike or addidas stuff, because you personally help slave labour in the far East. I went across the world on holiday, so I'm a hypocrit for being worried about the climate. We've all got our sinsThat is fair enough. What I will also say is there isn't really any actual abuse happening on here is there?

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[WhileTheChief..]

^^ So let’s keep it that way and have a civil discussion :aok:

[hibsbollah]

That is fair enough. What I will also say is there isn't really any actual abuse happening on here is there?

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Of course there isn’t. I dunno where that idea is coming from. I personally like While the chief and he’s here’s posts, and I’ve agreed with both of them on some things from time to time, there are lots of places on the internet when it’s totally impossible to have a healthy disagreement or exchange of views, broadly speaking we do that well on here.

Not that the two of the reactionary pig dogs won’t be the first ones up against the wall when the revolution comes :greengrin

[WhileTheChief..]

Folk without a fundamentalist mentality have the ability to change their minds, hopefully we see that at the next election.

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It’s happening already.

Look at the recent polls and the lead Labour are showing in them. That’s a massive change compared to 2 years ago.

[Bostonhibby]

It’s happening already.

Look at the recent polls and the lead Labour are showing in them. That’s a massive change compared to 2 years ago.Peace be upon you[emoji23]

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[WhileTheChief..]

Of course there isn’t. I dunno where that idea is coming from. I personally like While the chief and he’s here’s posts, and I’ve agreed with both of them on some things from time to time, there are lots of places on the internet when it’s totally impossible to have a healthy disagreement or exchange of views, broadly speaking we do that well on here.

Not that the two of the reactionary pig dogs won’t be the first ones up against the wall when the revolution comes :greengrin

Nobidy is suggesting there has been any abuse.

There was a friendly post saying not to turn the thread into a pile on, which hopefully most would agree with.

[Ozyhibby]

There is going to be a lot of hatred in the UK over the next few years when people start to lose their houses. Political discourse will get very heated.


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[Ozyhibby]

https://www.scotsman.com/news/politics/douglas-ross-says-he-is-concerned-about-his-mortgage-following-mini-budget-3861495

1 in 5 people in Scotland vote for this man. Incredible.


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[Stairway 2 7]

That is fair enough. What I will also say is there isn't really any actual abuse happening on here is there?

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I think so. Blaming a few people on here for the evil actions of the tories as a whole. Also people getting called thick because they have a difference in opinions many times recently, just shows the inadequacies of the people saying that I suppose though

Is oz says it's understandable due to the circumstances and it'll perhaps get worse. When people lose their house in the next few months, the people who caused it will be sipping champagne somewhere

[Stairway 2 7]

Very very pissed off reading this, as every decent British person should be. Let's not group the two policies together and focus on the fact that those in the country that have the least will suffer more than the rest, just ****ing awful

@soniasodha
So Kwarteng commits to pension triple lock (state pension will rise in line with inflation) but refused to commit to benefits rising in line with inflation, as normal. Would be a huge cut to benefits in the middle of a worsening cost of living crisis. Hard to get your head round

That cut in benefits will have a terrible impact on the lives of many children in low-income households and people with disabilities who rely on the welfare safety net that has already been eroded over last 12 years

[grunt]

https://twitter.com/BritainElects/status/1575522731101245440?s=20&t=lQXgQt2paer5Uwx0xLOpKw


Westminster voting intention:

LAB: 54% (+9)
CON: 21% (-7)
LDEM: 7% (-2)
GRN: 6% (-1)

via @YouGov
28 - 29 Sep
Chgs. w/ 25 Sep

[hibsbollah]

A new worry. Kwateng now hinting that benefits won’t rise with inflation, which is normal practice. If this happens people will starve, there’s no getting around it.

“Kwarteng says it would be 'premature' to decide if benefits will, as normal, rise in line with inflation
In May, when the then chancellor, Rishi Sunak, announced a £15bn package of measures to help people with rising energy costs, he said that he expected benefits for next year to be uprated in line with the inflation figure for September, as usual. That would mean “a very significant increase in benefits next year, in excess of the rate of inflation, which will be very positive for those in receipt of them”, he told MPs.

But that no longer applies. Last night, on ITV’s Peston, Chris Philp, the chief secretary to the Treasury, refused to commit to uprating benefits in line with inflation. And on his visit to Darlington Kwasi Kwarteng heightened speculation that benefits won’t be uprated in line with inflation. Asked if he would honour the commitment of the previous government, he said:

We are talking about helping people in the round. It is premature for me to come to a decision on that. But we are absolutely focused on making sure that the most vulnerable in our society are protected through what could be a challenging time.”

[Stairway 2 7]

15% say she's doing well 😆 wonder what their wage bracket is

hzeffman

Labour have a 33 POINT LEAD with YouGov/Times

Yes, 33. THIRTY-THREE POINTS

Lab: 54 (+9)
Con: 21 (-7)
Lib: 7 (-2)
Green: 6 (-1)
Ref: 4 (+1)
·
Which of the following do you think would make the best prime minister?

Liz Truss: 15 (-10)
Keir Starmer: 44 (+12)

How well or badly do you think Liz Truss is doing in her role as prime minister so far?

Well: 15
Badly: 65

Crucially, Labour's lead has been fuelled by Con to Lab switchers.

17 per cent of those who backed Boris Johnson in 2019 now say they would vote Labour

If Sunak had won, would he have been doing better or worse as PM?

Better: 44
Worse: 13

*Including only those who still say they plan to vote Conservative*

Better: 36
Worse: 29


Do you think Kwasi Kwarteng is doing a good job or a bad job as chancellor?

Good job: 7 (-3 from end of last week)
Bad job: 60 (+24)

Do you think the govt is managing the economy well or badly?

Well: 11 (-5)
Badly: 76 (+8)

An election could be more than two years away. But if this were replicated at an election it could be an extinction-level event for the Conservative Party.

At the 1997 general election Blair had a lead of 13 points

[Bostonhibby]

Very very pissed off reading this, as every decent British person should be. Let's not group the two policies together and focus on the fact that those in the country that have the least will suffer more than the rest, just ****ing awful

@soniasodha
So Kwarteng commits to pension triple lock (state pension will rise in line with inflation) but refused to commit to benefits rising in line with inflation, as normal. Would be a huge cut to benefits in the middle of a worsening cost of living crisis. Hard to get your head round

That cut in benefits will have a terrible impact on the lives of many children in low-income households and people with disabilities who rely on the welfare safety net that has already been eroded over last 12 yearsCould be controversial but my experiences in the Tory Heartland have been that they have an awful lot of Pensioners who vote for them so even though I believe a decent pension is everyone's right it's very difficult to see any Tory Chancellor affecting this group.

Generally, it's basic torynomics to pinch the sums involved from elsewhere, like the most needy rather than interfere with the mega billions that have recently found their way to their donators, friends and benefactors.



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