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[Sir Tigger KC]

You maybe right Sir Tigger,

But, the financial markets, the main financial gurus, worldwide, are all coming out with the same conclusions.  The mini budget is a big mistake. The exchange rates for the pound have collapsed.
Now there is talk that if this all continues, our corporate and private pensions could become unviable. 

The Bank of England, separate of any political loyalties, are also making it clear this is a very damaging budget, which requires their intervention pumping in £64 billion pounds, to temporarily prop up the markets, which ultimately WE, the taxpayers, will pay for.

No, all in all this is a mess.  Politically is is very damaging.  Financially for the U.K. it is disastrous.

Urgent action, like a resignation or two, plus the scrapping of that damned “mini-budget” is now a very urgent requirement.  Tory MP’s privately and not so privately are now starting to publicise their fears.

Truss going missing is telling its own story!

The reason that 'they' think it's all a big mistake is that they are afraid that the reforms will work and Britain will experience a shorter and shallower recession than our contemporaries who will be forced at the ballot box to follow suit, which in turn will destroy the high tax/regulation model that most western democracies have been following for the last 20-30 years in spite of the fact that this model has delivered low growth rates.

Sterling has been declining against the Dollar for months now in tandem with all other major currencies. The Euro is now worth less than a Dollar for example, but the lefty commentariat are happy to ignore that. 

Britain's Debt to GDP ratio is the second lowest in the G7 after Germany so it's not like we are hitting a debt ceiling or anything.

The Bank of England has been asleep at the wheel this year and should have raised rates sooner to limit inflation and shore up Sterling. Unfortunately they will probably deliver a massive hike in November in an attempt to catch up, but this will and already has been presented by Britain's corrupt media as a result of the mini budget. They were likely to deliver at least another half a percent anyway in November....

Scrapping the mini budget would be disastrous, would likely result in a vote of no confidence in the Govt which at this point with the help of spineless Tory wets would pass and we would have a GE. If Labour won we would be condemned to the high tax/big government model forever as I doubt any politician would ever be brave enough to try and break away from it again. 

Liz Truss needs to tough this out. She doesn't have to call a GE until December 2024 and if the reforms work she will confound her critics and win a majority. 

[STEMO]

You maybe right Sir Tigger,

But, the financial markets, the main financial gurus, worldwide, are all coming out with the same conclusions.  The mini budget is a big mistake. The exchange rates for the pound have collapsed.
Now there is talk that if this all continues, our corporate and private pensions could become unviable. 

The Bank of England, separate of any political loyalties, are also making it clear this is a very damaging budget, which requires their intervention pumping in £64 billion pounds, to temporarily prop up the markets, which ultimately WE, the taxpayers, will pay for.

No, all in all this is a mess.  Politically is is very damaging.  Financially for the U.K. it is disastrous.

Urgent action, like a resignation or two, plus the scrapping of that damned “mini-budget” is now a very urgent requirement.  Tory MP’s privately and not so privately are now starting to publicise their fears.

Truss going missing is telling its own story!

The reason that 'they' think it's all a big mistake is that they are afraid that the reforms will work and Britain will experience a shorter and shallower recession than our contemporaries who will be forced at the ballot box to follow suit, which in turn will destroy the high tax/regulation model that most western democracies have been following for the last 20-30 years in spite of the fact that this model has delivered low growth rates.

Sterling has been declining against the Dollar for months now in tandem with all other major currencies. The Euro is now worth less than a Dollar for example, but the lefty commentariat are happy to ignore that. 

Britain's Debt to GDP ratio is the second lowest in the G7 after Germany so it's not like we are hitting a debt ceiling or anything.

The Bank of England has been asleep at the wheel this year and should have raised rates sooner to limit inflation and shore up Sterling. Unfortunately they will probably deliver a massive hike in November in an attempt to catch up, but this will and already has been presented by Britain's corrupt media as a result of the mini budget. They were likely to deliver another half a percent anyway in November....

Scrapping the mini budget would be disastrous, would likely result in a vote of no confidence in the Govt which at this point with the help of spineless Tory wets would pass and we would have a GE. If Labour won we would be condemned to the high tax/big government model forever as I doubt any politician would ever be brave enough to try and break away from it again. 

Liz Truss needs to tough this out. She doesn't have to call a GE until December 2024 and if the reforms work she will confound her critics and win a majority. 

Agreed, but in the meantime...........whining old fannies 

[Sir Tigger KC]

An another thing....

Since when did the IMF become Social Justice Warriors FFS? 

Who thefk do they think they are lecturing us about inequality and telling us to restore the 45% tax rate! 

The Bulgarian woman who is the MD is an ex EU Vice President so we know where her sympathies lie and they don't want the UK becoming too competitive now do they?   

There was a report in Bloomberg the other day that banks on the continent are worried about losing staff, as they'll want to come and work in London when the cap on bankers bonuses is scrapped. 

Liz Truss should tell them to foxtrot oscar! 

[STEMO]

An another thing....

Since when did the IMF become Social Justice Warriors FFS? 

Who thefk do they think they are lecturing us about inequality and telling us to restore the 45% tax rate! 

The Bulgarian woman who is the MD is an ex EU Vice President so we know where her sympathies lie and they don't want the UK becoming too competitive now do they?    There was a report in Bloomberg the other day that banks on the continent are worried about losing staff, as they'll want to come and work in London when the cap on bankers bonuses is scrapped. 

Liz Truss should tell them to foxtrot oscar! 

Yep, and American bank bosses said they'd pay them in dollars, even though they were based in London 

[Sir Tigger KC]

An another thing....

Since when did the IMF become Social Justice Warriors FFS? 

Who thefk do they think they are lecturing us about inequality and telling us to restore the 45% tax rate! 

The Bulgarian woman who is the MD is an ex EU Vice President so we know where her sympathies lie and they don't want the UK becoming too competitive now do they?    There was a report in Bloomberg the other day that banks on the continent are worried about losing staff, as they'll want to come and work in London when the cap on bankers bonuses is scrapped. 

Liz Truss should tell them to foxtrot oscar! 

Yep, and American bank bosses said they'd pay them in dollars, even though they were based in London 

That's probably enough for the EU to introduce currency controls! 

[STEMO]

You maybe right Sir Tigger,

But, the financial markets, the main financial gurus, worldwide, are all coming out with the same conclusions.  The mini budget is a big mistake. The exchange rates for the pound have collapsed.
Now there is talk that if this all continues, our corporate and private pensions could become unviable. 

The Bank of England, separate of any political loyalties, are also making it clear this is a very damaging budget, which requires their intervention pumping in £64 billion pounds, to temporarily prop up the markets, which ultimately WE, the taxpayers, will pay for.

No, all in all this is a mess.  Politically is is very damaging.  Financially for the U.K. it is disastrous.

Urgent action, like a resignation or two, plus the scrapping of that damned “mini-budget” is now a very urgent requirement.  Tory MP’s privately and not so privately are now starting to publicise their fears.

Truss going missing is telling its own story!

Are you now a financial expert as well? Or are you just parroting what you heard on the news? No need to reply, I know the answer already.

Why the hostility Steve?

I am just voicing an opinion after listening and absorbing what is transpiring.  As for being a financial expert; not on a national basis, no. BUT having had for two decades complete P&L responsibility for a £100 million budget (in the 1990’s) for our business, I know all about good commercial financial controls, and my future depended on it.

So I know very well about corporate politics and responsibilities.

If I had published to the Board of Directors in the States a financial plan as Truss has that had such an immediate, appalling, affect, then I would have been paid off.

But of course, no one, and especially me as a women, can express their knowledge and opinion on the OOF now, if it is at odds with their ideas.   

That's effect, and you are a woman. The American board of directors would wonder about your figures if your grammar was so poor, surely?

[Field Marshal Dr. Opti]

Is it me then? 

Most of Kwasi Kwarteng's mini budget was leaked in advance so we knew for example they planned to cancel Sunak's ill advised hike in National Insurance and Corporation Tax, both measures apparently 'costing' about £20 billion each.

We knew that the Government planned to subsidise residential and business energy bills at an unknown open ended cost. Some estimates were as high as £200 billion. Nobody batted an eyelid and it's fair to say that the markets 'priced it in'.

The surprise parts of the mini budget are fairly minimal in the grand scheme of things:

Abolishing the 45% tax rate apparently costs about £2 billion, but may end up raising more revenue as happened when they scrapped Gordon Brown's 50% rate.

Abolishing IR35 rules for the self employed apparent costs about £2 billion, but again simplifying the tax system may raise more revenue.

Increasing Stamp Duty threshold apparently costs £1.7 billion, but you don't need Nick's sticky copy of Economics for Dummies to understand this one.

Keeping the annual investment allowance at £1 million apparently costs £1.7 billion, but encouraging businesses to invest is a no brainer and something that the Labour Party consistently bangs on about.

So all in all we're talking about roughly £8 billion of tax cuts that were unexpected, are very likely to boost the economy and raise more revenue, and the amounts are chicken feed comparatively anyway. 

So why has everyone lost their minds over it all? 

I think it's all very bizarre and smacks of an orchestrated attempt to bring down the Govt. Can't have them straying from the globalist script now can we? 

You may be correct Tig, but unfortunately for the bean counters who make the decisions it has gone down like a bucket of cold sick.

I don't think that a bigger pay packet for those earning more than £150,000, and bigger bonus payments for bankers was wise during a cost of living crisis.......especially literally the day before the Labour party conference.

We'll have to see how it plays out.

[STEMO]

Is it me then? 

Most of Kwasi Kwarteng's mini budget was leaked in advance so we knew for example they planned to cancel Sunak's ill advised hike in National Insurance and Corporation Tax, both measures apparently 'costing' about £20 billion each.

We knew that the Government planned to subsidise residential and business energy bills at an unknown open ended cost. Some estimates were as high as £200 billion. Nobody batted an eyelid and it's fair to say that the markets 'priced it in'.

The surprise parts of the mini budget are fairly minimal in the grand scheme of things:

Abolishing the 45% tax rate apparently costs about £2 billion, but may end up raising more revenue as happened when they scrapped Gordon Brown's 50% rate.

Abolishing IR35 rules for the self employed apparent costs about £2 billion, but again simplifying the tax system may raise more revenue.

Increasing Stamp Duty threshold apparently costs £1.7 billion, but you don't need Nick's sticky copy of Economics for Dummies to understand this one.

Keeping the annual investment allowance at £1 million apparently costs £1.7 billion, but encouraging businesses to invest is a no brainer and something that the Labour Party consistently bangs on about.

So all in all we're talking about roughly £8 billion of tax cuts that were unexpected, are very likely to boost the economy and raise more revenue, and the amounts are chicken feed comparatively anyway. 

So why has everyone lost their minds over it all? 

I think it's all very bizarre and smacks of an orchestrated attempt to bring down the Govt. Can't have them straying from the globalist script now can we? 

You may be correct Tig, but unfortunately for the bean counters who make the decisions it has gone down like a bucket of cold sick.

I don't think that a bigger pay packet for those earning more than £150,000, and bigger bonus payments for bankers was wise during a cost of living crisis.......especially literally the day before the Labour party conference.

We'll have to see how it plays out.

What relevance does a party who are not in government have, exactly? Nothing they do or say can be implemented for another two years, by which time they'll have torn themselves apart, as usual. You can say anything when you're not in power, it's of no consequence to anyone. Except the BBC, ITV, CH 4 and the left wing press.
If I were prime minister and Starmer asked me a question I didn't like, I'd just say 'mind your own business, it's nothing to do with you, you have no say in the matter" 

[Lizzie Zoom]

You are probably the most condescending person I have ever had to listen to. Working in a shop doesn't make you chancellor of the exchequer material 

You really think I was working in a shop……?  You really think I am condescending?   Have you ever read your own posts; those one liners, just like your friend DG, that degrade others whenever you can because of your own ignorance and stupidity?  FFS!!!

All I do is express an educated opinion, and you, with DG, start the insults.  It is not just against me either!

It is now not worth contributing to any discussions on here, as if they are read, it only attracts insults, and there is no point to that.

Change of scene for me I think, although I will stay loyal to the Forum and read up on any required advice at the time.

[STEMO]

And I'd sack all the whining old fannies on the back benches who skulk, anonymously, to the press saying shit like 'Kwarteng is toast'

Burnt toast   

[STEMO]

You are probably the most condescending person I have ever had to listen to. Working in a shop doesn't make you chancellor of the exchequer material 

You really think I was working in a shop……?  You really think I am condescending?   Have you ever read your own posts; those one liners, just like your friend DG, that degrade others whenever you can because of your own ignorance and stupidity?  FFS!!!

All I do is express an educated opinion, and you, with DG, start the insults.  It is not just against me either!

It is now not worth contributing to any discussions on here, as if they are read, it only attracts insults, and there is no point to that.

Change of scene for me I think, although I will stay loyal to the Forum and read up on any required advice at the time.

Change of scene? Oh well.

[Sir Tigger KC]

I don't think that a bigger pay packet for those earning more than £150,000, and bigger bonus payments for bankers was wise during a cost of living crisis.......especially literally the day before the Labour party conference.

We'll have to see how it plays out.

I can see the poor politics of that, but it literally makes no difference to you, I or anyone else if the wealthy and well paid get to keep a bit more of their cash. 

It's the politics of envy, hatred and bitterness which is like a cancer in this country and should be abolished forthwith!   

[STEMO]

He should have got rid of the anomaly where, for every two pounds earned over £100,000, you lose one pound of your personal tax allowance.
If your personal allowance is, say, 1250L, if you earn £102,000, your allowance goes down to 1240L WTF?

[STEMO]

Glad no one quoted me before I corrected that second figure 

[Sir Tigger KC]

Glad no one quoted me before I corrected that second figure 

I've never earnt anywhere near £100k so I just took your word for it.