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The Premiership of Mary Elizabeth Truss.Sept 2022 - Oct 2022

They should smoke dope more often then…

No need; the pair of them came pre-doped. (They don't come anymore dopey.)

In summary, Murphy would:
Keep interest rates ultra low under all circumstances.
Don’t worry about the currency.
Don’t worry about inflation.
Print whatever money is required.

I'll take the last one, ta. No more, and no less. It's what's needed right now. Trouble is, if the Tory Scum/BoE do it, the cash will go where it always goes, into offshore tax havens.

John
 
Cummings is such a massive prick though. Probably the only person in contemporary politics with a more deluded sense of his own intellectual worth is "Lord" Frost.

Absolutely, I just posted the quote as watching Tories eat themselves never gets old. I am enjoying the idea some of them think the party is now done for. Good.
 
Ah that didn't take long. Brain Surgeon and Rocket Scientist (I think that's right) David Davis is in The Torygraph with a hatchet piece called 'An insurance-based system is the only way to save the NHS'...

https://www.telegraph.co.uk/news/2022/10/02/insurance-based-system-way-save-nhs/

I imagine we'll be hearing a lot more about this as budgets are slashed to pay for tax cuts.
I thought we already had an insurance based system.
A National Insurance based system…
 
I'll take the last one, ta. No more, and no less. It's what's needed right now. Trouble is, if the Tory Scum/BoE do it, the cash will go where it always goes, into offshore tax havens.

John

That is what the BoE did last week in propping up the pension funds by buying up the 'worthless' government bonds. The trouble is that is the exact opposite of their current policy, which is about reversing all the QE from the aftermath of the 2008 collapse. Government is pulling one way and the BoE in the other direction, which is making Government borrowing much more expensive. Something has to give and the 45% band is not enough.
 
The Pound will have to give, the Bank of England has to defend the bond market because of pension funds and mortgages. Too bad energy is priced in US dollars.
 
I thought we already had an insurance based system.
A National Insurance based system…

Well quite. Mr Davis makes that very point in his brilliant article. He also states that lack of funding is most definitely not the cause of any problems in the NHS. Which is why it's so terribly important that we, er, look at different ways of funding it.

To be honest it doesn't make much sense to me but I'm sure David Davis knows his stuff. Dominic Cummings was probably just having a bad day when he called him "thick as mince"...
 
David Davis is in The Torygraph with a hatchet piece called 'An insurance-based system is the only way to save the NHS'...

https://www.telegraph.co.uk/news/2022/10/02/insurance-based-system-way-save-nhs/

Brilliant idea! We could call it, say, "National Insurance". Everyone pays into it from their income, in a progressive way, and when you need health care, it is free at the point of need, regardless of your means to pay. Call the resulting health delivery system the National Health Service, or NHS for short. It would be world beating. The envy of other countries everywhere.
 
Without personal comment, perhaps you could explain how you would carve up the bill and any subsequent change in the bill differently.

Another parable; Two Glasgow guys are walking home from work. One a Tory, the other just Glasgow scum. The Tory finds a wage packet on the pavement, stuffed with £20 pound notes. He pockets the cash, casually reads the wage packet and bursts out crying...

"What's wrong?" Asks his mate, concerned. "You should be dancing"

"I know. But, look at the tax off it!" wails the Tory.
 
NI would have to go up a lot if it's to pay for health (I know, KS, I know) - it only pays for about 20% of the NHS' annual bill.

https://www.kingsfund.org.uk/projects/nhs-in-a-nutshell/how-nhs-funded

Call it PAYE then. The point is we already have a working system. **** knows how introducing several tiers of parasites all taking an unearned profit from a public health service is supposed to make it more efficient? How does that work? Some kind of magic? Pay a tenner and get £3 worth of health care....bargain!
 
Assume they all sit around the same table and chairs and drink the same beer. In the same way people have access to and consume services such as police, national defence, fire brigade, NHS, education etc etc.

But drinker #10 has private medical, private dental, sent the boys to Eton and then Durham because they were too thick to get in to Oxbridge?
 
I agree that funding the NHS isn't a problem per se. Just increase tax. The problem is the NHS is out of date and inefficient. You should be able to go to a doctor and get an ultrasound scan, an ECG, blood tests or whatever during your consultation as happens in most EU countries.
 
Without personal comment, perhaps you could explain how you would carve up the bill and any subsequent change in the bill differently.
The way they are doing the bill, both before and after discount is fine. Any proponent of progressive taxation should be fine with it. The only change I'd make to the story is remove all implication that anything is wrong with it, from either 'side.'
 
Even with tax U-turn, richest families still gain 40 times as much as poorest ones from mini-budget, says thinktank
The Resolution Foundation thinktank says the decision to keep the 45% top rate of income tax means the richest 10% have lost more than half of the gains they were going to make from the mini-budget.

The thinktank also says Kwasi Kwarteng still needs to make “significant spending cuts” in the the fiscal plan on 23 November to compensate for the unfunded tax cuts worth £43bn still left in the mini-budget package.

https://www.theguardian.com/politic...0883d28b586fab#block-633add6c8f0883d28b586fab
 
Your problem is that the distribution of people and incomes amongst the percentiles is not linear. You need to re-do your thought experiment but with 1 guy in the 90th percentile earning 1bn, 10 guys in the 80th earning 1 million, 1000 guys in the 70th earning 100,000, etc. etc.

For me the point that "Ponty's" 'example' ignores is that the price of beer isn't a tax. It is a price for something bought. Whereas tax is actually one side of a coin. (pun alert!) The other side is the social decision to give money to the poor and give more to the poorest. The basis of this is to ensure - ideally - that everyone can manage to live in at least a reasonable state of comfort, health, education, opportinity, etc.

On one side we give more to those who have more need - poorer, have economic disadvantages due to factors outwith their contol, etc. On the other we tax more from those who have a higher surplus about what on average people need to live in a way that avoids them being hungry, cold, ill, etc. In effect they have a higher amount that can contribute without being in any real difficulty.

This in turn means that - via education, health, ability to get to or from work, etc, can then do work from which 'wealthy' people can make some profit and that then aids them to be in a situation where they can afford to pat more tax whilst *still* being better off than many.

If you want a decent civilised society graded taxes and social provisions go together.

Thus the shallow daftness of the Trussonomics approach on a social level as well as in terms of finance. Basically, their right-wing-think-tank fantasies make no sense from any angle - except for a few ultra rich and powerful who care only about themselves and invent beliefs that flatter their convenience.
 
Ah that didn't take long. Brain Surgeon and Rocket Scientist (I think that's right) David Davis is in The Torygraph with a hatchet piece called 'An insurance-based system is the only way to save the NHS'...

https://www.telegraph.co.uk/news/2022/10/02/insurance-based-system-way-save-nhs/

I imagine we'll be hearing a lot more about this as budgets are slashed to pay for tax cuts.

Yup. That's what they have in mind. Slightly missing that it doesn't work for many people. cf the USA. Where it is also stunningly. But too many of the wealthy resent having to contribute towards health, education, etc, for the poorer folk them exploit at work. There Is No Such Thing As Society.

Many people work long exhausting hours for low rates in the NHS because they believ in a National service owned by the people via Government. Tory Goverments have been busy starving them out and working them to exhaustion as 'step 1'. Along with privatising and outsourcing lots of the NHS by stealth. The next step has been planned for a many years. The longer they stay in power the closer it looms.

SOP Run down social provision until its struggles to keep going. Then use the effect *caused* by Government policies to 'blame the victim' and flog it off because that'll make your rich mates better off... erm sorry, that would be more profitable... oops, sorry, that will be more efficient. (By some definitions of the term we'll gloss over.)
 
I agree that funding the NHS isn't a problem per se. Just increase tax. The problem is the NHS is out of date and inefficient. You should be able to go to a doctor and get an ultrasound scan, an ECG, blood tests or whatever during your consultation as happens in most EU countries.

Actually, the main problem with the NHS is the way it has been burrowed into by various Tory tricks below the waterline. Trusts, outsourcings, making student nurses *pay* to become nurses, etc. Loads of the money goes though the NHS like a dose of salts and ends up being a tidy private profit elsewhere. Nurses leave and come back as 'contract' staff to get better terms with company creaming profits.

Trusts get forced to 'borrow from government' to meet the 'targets' they get set. As government simply increases those 'targets' per pound provided. This the can be written on Government books as an 'asset' which the trusts end up paying interest on in effect.

read PE ad naus. You wouldn't believe just how devious the Tories are about this as te NHS is what they hate most - articularly as their wealthy backers dream of having a system here like that in the USA because of how much they - and the drugs cos - could make from it.

Watch out also for a USA 'Free Trade Deal' that makes medications here an order of magnitude more expensive by accepting their IPR demands.
 
"The Conservative Party conference centre is in lockdown due to an unknown security incident - nobody allowed to enter or leave "until further notice"" https://twitter.com/matt_dathan/status/1576945921559912455

That's looking a bit convenient ahead of the Chancellor's inevitable car-crash speech.

I will reserve judgment till we see the outcome. But... If this results in the speech being cancelled, it's definitely an inside job.
 


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