The Premiership of Mary Elizabeth Truss.Sept 2022 - Oct 2022
- Thread starter TheDecameron
- Start date
raysablade
pfm Member
I’m on a train to Zurich at the moment. My financially astute better half has been tracking the increase in the price of our hotel through the morning and afternoon, and asking, as sternly as she can, why I didn’t pay up front!
It might be mildly amusing but as an indicator of HMG’s competence it’s also deeply concerning. Most of the fall should already have been priced in.
Seanm
pfm Member
https://twitter.com/torstenbell/status/1573296058079346689?s=46&t=V22MguQOty74Ojp1ihI-hQ
“Almost half of the gains from tax cuts next year go to the richest 5% of households. The poorest half get an average of £230 vs £3,090 for richest fifth”
really need to see the graph: “richest 5th” actually soft soaps the whole thing, as does richest 10th: you really need to look at the richest 20th.
“Almost half of the gains from tax cuts next year go to the richest 5% of households. The poorest half get an average of £230 vs £3,090 for richest fifth”
really need to see the graph: “richest 5th” actually soft soaps the whole thing, as does richest 10th: you really need to look at the richest 20th.
Tony L
Administrator
Just look at the demographic into which most Tory MPs and party donors fall. No need to drill-down any further. The whole picture will be visible from there.
laughingboy
pfm Member
I'd like to understand the inner workings of the modern Tory party too. I wonder for example, what role the Carlton club, the Reform club or White's play in internal affiliations, and how that plays out in terms of patronage, etc.
We know about Johnson flying back from COP26 for dinner at the Garrick club with Charles Moore and pals, after which Johnson recklessly tried to support Owen Paterson. To what extent is Conservative policy made in similar ways, for favours, for friends?
paulfromcamden
Baffled
Parity with the Iranian Rial approaches...
tones
Tones deaf
Rially?
Jim Audiomisc
pfm Member
Depends on which bit of the 'BBC' you choose. I've been listening to Radio Scotland and some of their coverage has been of interest. Main point for us in Scotland is that the SNP have made clear that they will NOT follow the Tory lead when it comes to changing Income Tax (devolved) or 'Stamp Duty' (we don't have that). And regard the Tories much as many here do. Alas, many other changes can be imposed on us all by Westminster, like it or not.
Quite often BBC RS has very different interviews, etc, than BBC R4. Similar for BBC's Scotland's news/politics progs on TV. I wonder if similar diversity shows up in Wales or NI?
Jim Audiomisc
pfm Member
That's also why attempts by the LP to break through that 'narrative' get misrepresented, lied about, and the people who support good sense get 'monstered'. Often with slurs of other kinds. Much of the media are a part of the control and propaganda system owned by the rich.
PE stands out as different, but far too few people read it, and it may require the reader to *think*.
Jim Audiomisc
pfm Member
And the *really* wealthy are the "0%" just above the graph who can arrange to "have no income, or own anything" because they are rich enough to ensure that's how UK law lets them be.
gavreid
Pretty Words...
The comparisons being made are with Barber's Tory budget of 1972 - widely considered to be the worst budget of the twentieth century
"During his term the economy suffered due to stagflation and industrial unrest. In 1972 he delivered a budget which was designed to return the Conservative Party to power in an election expected in 1974 or 1975. This budget led to a period known as "The Barber Boom". The measures in the budget led to high inflation and wage demands from Public Sector workers. He was forced to introduce anti-inflation measures in September 1972, along with a Price Commission and a Pay Board. The inflation of capital asset values was also followed by the 1973 oil crisis which followed the Yom Kippur War, adding to inflationary pressures in the economy and feeding industrial militancy (already at a high as a result of the struggle over the Industrial Relations Act 1971).
In 1972, having said a week earlier in the House of Commons that he had "no reason to believe that the pound was overvalued", he floated it (most of the world currencies were floated at that time) "as a temporary measure". The pound immediately plunged on the markets, and it was impossible during his time as Chancellor to impose a new parity. It has remained floating ever since."
https://en.wikipedia.org/wiki/Anthony_Barber
"During his term the economy suffered due to stagflation and industrial unrest. In 1972 he delivered a budget which was designed to return the Conservative Party to power in an election expected in 1974 or 1975. This budget led to a period known as "The Barber Boom". The measures in the budget led to high inflation and wage demands from Public Sector workers. He was forced to introduce anti-inflation measures in September 1972, along with a Price Commission and a Pay Board. The inflation of capital asset values was also followed by the 1973 oil crisis which followed the Yom Kippur War, adding to inflationary pressures in the economy and feeding industrial militancy (already at a high as a result of the struggle over the Industrial Relations Act 1971).
In 1972, having said a week earlier in the House of Commons that he had "no reason to believe that the pound was overvalued", he floated it (most of the world currencies were floated at that time) "as a temporary measure". The pound immediately plunged on the markets, and it was impossible during his time as Chancellor to impose a new parity. It has remained floating ever since."
https://en.wikipedia.org/wiki/Anthony_Barber
billo
pfm Member
I was wondering if he was going to backdate it to when he was a humble City Banker?
foxwelljsly
Me too, I ate one sour too.
If I were a cynic, I might suggest that they know they're out at the next election, are having a quick leaving whip round and making a mess to big for Labour to clear up in one term.
ks.234
Half way to Infinity
Seanm
pfm Member
It's win-win: if they get a bump in growth and popularity, they'll win the next election and the carpet-bagging can continue for another term; if the whole thing just goes up in flames then Labour are left with an impossible task.
Sue Pertwee-Tyr
Accuphase all the way down
The way things are, I think it’s a toss up between what happens first, the Tory volte face or Putin’s ‘retirement’. I’m hoping for both before the end of the month.
sean99
pfm Member
https://www.morningstar.com/news/ma...ging-market-former-us-treasury-secretary-says
"The UK is behaving a bit like an emerging market turning itself into a submerging market," former U.S. Treasury Secretary says
Summers is a controversial figure - but the quotes above are astounding.
"The UK is behaving a bit like an emerging market turning itself into a submerging market," former U.S. Treasury Secretary says
Summers is a controversial figure - but the quotes above are astounding.
