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[Sir Tigger KC]

Feverish media speculation today that Kwasi Kwarteng will be sacked and that Liz Truss will reverse the tax cuts in the 'mini budget' specifically the cancellation of Rishi Sunak's hike in Corporation Tax.

Below is a little snapshot from my Twitter timeline earlier. So it seems that American tax incentives are motivating German chemical businesses to move to the USA taking jobs and prosperity with them, but in Britain tax cuts are bad. 

[Field Marshal Dr. Opti]

I think she may be toast along with her 'Kamikwasi chancellor'.....

[Field Marshal Dr. Opti]

Could we be heading for the perfect storm?

Government imploding.
Chancellor sacked.
Highest inflation for forty years.
High unstable energy prices.
Rising interest rates that will hit business and mortgage payers.
Heading toward £1 trillion of debt.
Illegal immigration out of control.
Truss wants more legal immigration.
Starmer at No 10.
Problems caused by the Chinese sniffle.
NHS waiting list currently 6.7 million.
Putin's war.

[Rangie]

Just heard that he has been sacked, good riddance stupid bastard.

[Field Marshal Dr. Opti]

Just heard that he has been sacked, good riddance stupid bastard.

It's a total cluser f*uck.

Everything is so crazy at the moment that KK may bounce back as the next Tory leader........ by 6 PM this evening

[TheBoy]

NHS waiting list currently 6.7 million.

Isn't it 7m now, or was that just BBC scaremongering?

[Field Marshal Dr. Opti]

NHS waiting list currently 6.7 million.

Isn't it 7m now, or was that just BBC scaremongering?

It was 6.7M  five minutes ago...

[Field Marshal Dr. Opti]

Jeremy Hunt is the new government bean counter. We're saved.....

[Nick W]

ten years ago Truss, Patel Kwarteng etc nailed their brains to the flagpole with the publication of their fantasy book.
A month ago, they got their chance to implement their ideas.


And as you would expect from a bunch of intellectual and political lightweights, that went down as well as bucket of cold sick.


If this was happening in another country, it would be hilarious.

[Rangie]

Jeremy Hunt is the new government bean counter. We're saved.....

.


Unfortunate surname if he proves to be no  better, Hunt the cun*

[Sir Tigger KC]

I still don't believe that all this turmoil has been caused by some tax cuts that are relatively minor in the grand scheme of things. 

Before the 'mini budget' we knew the Government were going borrow to fund the energy subsidy scheme which some said could cost up to £200 billion. We knew Truss and Kwarteng planned to cancel Sunak's stupid hikes in Corporation Tax and NI 'costing' around £40 billion and I think it's fair to say that the markets priced all that in.

What we are told to believe, is that the relatively minor tax cuts that were the surprise in the mini budget, scrapping the 45% top rate, raising the Stamp Duty threshold, scrapping IR35, bringing forward the 1% income tax cut by one year etc etc are what spooked the markets despite a relatively minor  'cost' of around £8 billion, but probably less as some of those cuts would have delivered higher revenue. 

Put that into context with the UK's national debt of around £2.4 Trillion it's just petty cash, but yes it spooked the markets! 

[Field Marshal Dr. Opti]

I still don't believe that all this turmoil has been caused by some tax cuts that are relatively minor in the grand scheme of things. 

Before the 'mini budget' we knew the Government were going borrow to fund the energy subsidy scheme which some said could cost up to £200 billion. We knew Truss and Kwarteng planned to cancel Sunak's stupid hikes in Corporation Tax and NI 'costing' around £40 billion and I think it's fair to say that the markets priced all that in.

What we are told to believe, is that the relatively minor tax cuts that were the surprise in the mini budget, scrapping the 45% top rate, raising the Stamp Duty threshold, scrapping IR35, bringing forward the 1% income tax cut by one year etc etc are what spooked the markets despite a relatively minor  'cost' of around £8 billion, but probably less as some of those cuts would have delivered higher revenue. 

Put that into context with the UK's national debt of around £2.4 Trillion it's just petty cash, but yes it spooked the markets! 

There won't be much tax cutting with old Hunty Cun**

Truss seems to be a bit of a lame duck now.

[Sir Tigger KC]

According to reports today, when Jeremy Hunt stood for the leadership earlier in the summer he said he'd drop Corporation Tax to 15%. 

Liz Truss & KK wanted the status quo and keep it at 19% rather than Sunak's hike to 25%.  Apparently that spooked the markets! 

[Sir Tigger KC]

Nick 'The Flying Brick', the Treasurer of the Monster Raving Loony Party has said that if they get into No10, their plan to fix the nations finances will be to put the countries gold reserves on the 1.20 at Cheltenham!   

Thing is... Do we have any gold after Gordon Brown sold it at rock bottom prices after telling all and sundry his cunning plan and the price of gold crashed?     

[Varche]

As an expat it irritates the pants off me to see most expats ridiculing Britain.

For the life of me I cannot understand why Britain hasnt gone along with asking the country to save energy during peak times. It isnt ricket science. Maybe worried their mates will make less money from energy. Hey ho.