mini budget

[Harlow]

This is scary, especially for the younger generations. I can see massive interest rate rises which happened after Lawsons budget of 1988.

[Fellowo]

Liz Truss is a puppet, talks like one, got the brain of one and have you seen her when she walks on stage…
She walks like a Thunderbird puppet
We have a population of 68m people in Uk and out of that 68m, only 135k voted Truss in.
Give us a General Election so everyone can vote her and the Conservative C@#€s out!!

Thank you, I've been scratching my brain regarding how she walks and yes it's like a Thunderbird Puppet.

[Harlow]

Now see that they want more immigration because immigrants have driven growth in the past. I know LT was a remainer so perhaps she realizes the follow of Brexit

[slacker]

I suppose some might call going all-in on tax cuts mostly favouring the very rich that will require yet another further hike in Govt borrowing to try and stimulate growth as brave. Others might consider it a foolhardy gamble.

The initial market reaction of tanking the pound and hiking Gilt yields suggests the City isn’t too keen, but we’ll see.

[The Mindsweep]

[PoundhillO]

The Tories are yet again making the rich richer and making the poor poorer, only a fool could disagree.
Working class people will struggle at all levels including being able to afford attending Orient home games.

[The Mindsweep]

The whole country will be the loser. These tax cuts and the engery cap is being funded solely by borrowing. Truss models herself on Thatcher but her tax cuts were funded, not least by selling off our infrastructure, rail, water, gas, electric....

The only way they can fund this madness and please the market is to sell off our prime asset, the NHS. Its already been systematically brought to its knees and is ripe for this purpose. Expect a focused campaign by the Tory press and media to bring voters and public option in line with their plan to sell.

[RedDwarf 1881]

This is scary, especially for the younger generations. I can see massive interest rate rises which happened after Lawsons budget of 1988.

Yes , I can remember paying interest rates of 15%.

[RedDwarf 1881]

The Tories are yet again making the rich richer and making the poor poorer, only a fool could disagree.
Working class people will struggle at all levels including being able to afford attending Orient home games.

For the first time Poundy on a political issue I agree with you. They are now the same old Tory party I hated during the 80’s and 90’s. . Maybe Liz Truzz modelling herself on Maggie Thatcher as a lot to do with it. I don’t know.

[RedDwarf 1881]

This is what I meant about feeling politically homeless. Yes I’m a brexiteer but I hate the Tories. I feel Labour abandoned me and the LibDems aren’t worth a toss.

[StillSpike]

But they did get Brexit done

Is being governed badly down to Brexit ?

Yes - absolutely.

Firstly, you'll remember that the last 2 Prime Ministers absolutely gutted their Cabinets of anyone who wasn't a 100% loyal Brexiteer - there could be NO dissent, no heresy, every minister had to be 100% behind the project. That's how we ended up with such intellectual heavyweights as Grayling, Braverman, and Raab in the Cabinet.

Secondly, how else do you think this bunch of clowns got elected? The only way to persuade Joe Public that a party who existed solely to protect the interests of the super wealthy is also actually on his side too is to kid him that they have a shared interest. That was the whole point of Brexit - it was nothing to do with sovereignty, it wasn't even to do with immigration (otherwise we wouldn't be seeing such increased in immigration from further afield). It was solely to fool a chunk of the population that the Tory party had a shared purpose with them - newsflash! = they don't.

Back when wealth was more equal, working class Tories were Tories because they could kid themselves that they too might one day reach the top rate of tax bracket - they too might reach the giddy heights of management, so it'd be prudent to agree with the Tories that the rich (that they hoped to be one day) shouldn't pay too much tax. Nowadays, you can't kid folk that they'll one day be at the top of the ladder - so you have to come up with some other reason for them to share common purpose with Rees Mogg and Paul Dacre. Hence Brexit.

Because of Brexit - and the psychological trick that once someone's been conned they find it very hard to admit even to themselves that they've been conned, and so tend to double down - the Tory have found millions of useful idiots who are only too willing to defend them, whatever they do.

Ever get the feeling you've been cheated ?

[Still's Carenae]

All I can say, is that my tax bill over £12k has been reduced by 5% and my nat ins bill has been reduced by 9.4%. So £225 better of per £10k earnings at basic tax. If you are earning an average wage you will be around £450 better off.

No idea if the scrapping the 45% tax band will help as it depends on what else is going to be announced over the next few months.

I think this is just the start of a raft of new initiatives.

No worries about currency and bond markets short term, as mainly speculators pushing with a very strong dollar. In a years time we will have a better idea.

As for Truss herself. She is not an orator. But to say that she is not bright is clearly not correct. Not many go from a comprehensive education to studying mathematics at Oxford without intelligence. Whatever you think about her, she is a highly motivated individual who has a different way of thinking to how we have been encouraged and taught over the last 25-30 years and people are clearly shocked. But as I have know having changed career 3 times, this is not as such a risk, but an opportunity for change.

[Fellowo]

But they did get Brexit done

Is being governed badly down to Brexit ?

Yes - absolutely.

Firstly, you'll remember that the last 2 Prime Ministers absolutely gutted their Cabinets of anyone who wasn't a 100% loyal Brexiteer - there could be NO dissent, no heresy, every minister had to be 100% behind the project. That's how we ended up with such intellectual heavyweights as Grayling, Braverman, and Raab in the Cabinet.

Secondly, how else do you think this bunch of clowns got elected? The only way to persuade Joe Public that a party who existed solely to protect the interests of the super wealthy is also actually on his side too is to kid him that they have a shared interest. That was the whole point of Brexit - it was nothing to do with sovereignty, it wasn't even to do with immigration (otherwise we wouldn't be seeing such increased in immigration from further afield). It was solely to fool a chunk of the population that the Tory party had a shared purpose with them - newsflash! = they don't.

Back when wealth was more equal, working class Tories were Tories because they could kid themselves that they too might one day reach the top rate of tax bracket - they too might reach the giddy heights of management, so it'd be prudent to agree with the Tories that the rich (that they hoped to be one day) shouldn't pay too much tax. Nowadays, you can't kid folk that they'll one day be at the top of the ladder - so you have to come up with some other reason for them to share common purpose with Rees Mogg and Paul Dacre. Hence Brexit.

Because of Brexit - and the psychological trick that once someone's been conned they find it very hard to admit even to themselves that they've been conned, and so tend to double down - the Tory have found millions of useful idiots who are only too willing to defend them, whatever they do.

Ever get the feeling you've been cheated ?

I certainly do, what's happened to the £352 million that the NHS was going to save.

[The Mindsweep]

All I can say, is that my tax bill over £12k has been reduced by 5% and my nat ins bill has been reduced by 9.4%. So £225 better of per £10k earnings at basic tax. If you are earning an average wage you will be around £450 better off.

No idea if the scrapping the 45% tax band will help as it depends on what else is going to be announced over the next few months.

I think this is just the start of a raft of new initiatives.

No worries about currency and bond markets short term, as mainly speculators pushing with a very strong dollar. In a years time we will have a better idea.

As for Truss herself. She is not an orator. But to say that she is not bright is clearly not correct. Not many go from a comprehensive education to studying mathematics at Oxford without intelligence. Whatever you think about her, she is a highly motivated individual who has a different way of thinking to how we have been encouraged and taught over the last 25-30 years and people are clearly shocked. But as I have know having changed career 3 times, this is not as such a risk, but an opportunity for change.

Have a look at any pension pots you may have. Stocks are mainly priced in dollars so a falling pound is a real problem. They also will have invested in Bonds and especially domestic debt in the form of Gilts, they are heading south dramatically and have been for the last few weeks when this shower of a government starting leaking their plan. The markets are very concerned about the ability of the UK to be able to afford the debt.

No sensible government around the world has undertaken anything like this. I can't believe that the dregs of the current administration is in anyway competent to run a 'normal ' functioning economy, what they have set in place now......

[Give it to Jabo]

Is being governed badly down to Brexit ?

Yes - absolutely.

Firstly, you'll remember that the last 2 Prime Ministers absolutely gutted their Cabinets of anyone who wasn't a 100% loyal Brexiteer - there could be NO dissent, no heresy, every minister had to be 100% behind the project. That's how we ended up with such intellectual heavyweights as Grayling, Braverman, and Raab in the Cabinet.

Secondly, how else do you think this bunch of clowns got elected? The only way to persuade Joe Public that a party who existed solely to protect the interests of the super wealthy is also actually on his side too is to kid him that they have a shared interest. That was the whole point of Brexit - it was nothing to do with sovereignty, it wasn't even to do with immigration (otherwise we wouldn't be seeing such increased in immigration from further afield). It was solely to fool a chunk of the population that the Tory party had a shared purpose with them - newsflash! = they don't.

Back when wealth was more equal, working class Tories were Tories because they could kid themselves that they too might one day reach the top rate of tax bracket - they too might reach the giddy heights of management, so it'd be prudent to agree with the Tories that the rich (that they hoped to be one day) shouldn't pay too much tax. Nowadays, you can't kid folk that they'll one day be at the top of the ladder - so you have to come up with some other reason for them to share common purpose with Rees Mogg and Paul Dacre. Hence Brexit.

Because of Brexit - and the psychological trick that once someone's been conned they find it very hard to admit even to themselves that they've been conned, and so tend to double down - the Tory have found millions of useful idiots who are only too willing to defend them, whatever they do.

Ever get the feeling you've been cheated ?

I certainly do, what's happened to the £352 million that the NHS was going to save.

Every week, wasn't it? What a farce....

[spen666]

being a pensioner budgets mean nothing to me.
...

In fact they mean so nothing to you that you start a thread about yesterday's mini budget in a football forum.


I'm sure you can understand the problem I have with believing your opening line

[spen666]

...

.... Stocks are mainly priced in dollars so a falling pound is a real problem. ......

Remind me how many of the stocks quoted on the UK stock markets are priced in dollars?

Pretty sure the UK stock market prices are in £sterling

[Give it to Jabo]

being a pensioner budgets mean nothing to me.
...

In fact they mean so nothing to you that you start a thread about yesterday's mini budget in a football forum.


I'm sure you can understand the problem I have with believing your opening line

I think you will find it reads "Chat about Leyton Orient or ANYTHING else..."

[spen666]

being a pensioner budgets mean nothing to me.
...

In fact they mean so nothing to you that you start a thread about yesterday's mini budget in a football forum.


I'm sure you can understand the problem I have with believing your opening line

I think you will find it reads "Chat about Leyton Orient or ANYTHING else..."

But for someone who claims budgets mean nothing to him to start a thread about the budget

[Long slender neck]

A Boris Brexit could have been avoided of course if Labour had backed one of May's soft deals. They decided to just abandon responsibility though.

[greyhound]

In fact they mean so nothing to you that you start a thread about yesterday's mini budget in a football forum.


I'm sure you can understand the problem I have with believing your opening line

I think you will find it reads "Chat about Leyton Orient or ANYTHING else..."

But for someone who claims budgets mean nothing to him to start a thread about the budget

of course budgets mean nothing to me.
because i or many more have never got anything out of any budget.
just interested to see how it effected others on here.

[Eggski]

Tory scum

[Max B Gold]

All I can say, is that my tax bill over £12k has been reduced by 5% and my nat ins bill has been reduced by 9.4%. So £225 better of per £10k earnings at basic tax. If you are earning an average wage you will be around £450 better off.

No idea if the scrapping the 45% tax band will help as it depends on what else is going to be announced over the next few months.

I think this is just the start of a raft of new initiatives.

No worries about currency and bond markets short term, as mainly speculators pushing with a very strong dollar. In a years time we will have a better idea.

As for Truss herself. She is not an orator. But to say that she is not bright is clearly not correct. Not many go from a comprehensive education to studying mathematics at Oxford without intelligence. Whatever you think about her, she is a highly motivated individual who has a different way of thinking to how we have been encouraged and taught over the last 25-30 years and people are clearly shocked. But as I have know having changed career 3 times, this is not as such a risk, but an opportunity for change.

Have a look at any pension pots you may have. Stocks are mainly priced in dollars so a falling pound is a real problem. They also will have invested in Bonds and especially domestic debt in the form of Gilts, they are heading south dramatically and have been for the last few weeks when this shower of a government starting leaking their plan. The markets are very concerned about the ability of the UK to be able to afford the debt.

No sensible government around the world has undertaken anything like this. I can't believe that the dregs of the current administration is in anyway competent to run a 'normal ' functioning economy, what they have set in place now......

Given Truss flagged the run on the pound in advance I hedged against it and switched my three pension pots to Dollars months ago. I'm quids in. I can't believe youse didn't get in on it!

[Adz]

Given Truss flagged the run on the pound in advance I hedged against it and switched my three pension pots to Dollars months ago. I'm quids in. I can't believe youse didn't get in on it!

That's not a hedge, that's a punt. A hedge would have been taking out an fx forward or something similar to nullify the effect.

[Adz]

It seems to me the current issues have highlighted an inherent problem with global commodities being priced in usd. Everyone having to increase interest rates so they don't weaken too much against the usd defeats the whole exchange rate system. America has a clear inflationary spiral from wage increase (not before time really as a lot of wages are at poverty level there), this shouldn't be the rest of the world problem, but clearly is.