Emergency “Fiscal Event” September 2022

[@Lee]

It appears quite a few tory MPs are in open revolt now after the U-Turn which according to one MP was a 'change of direction' rather than a U-turn. Some may just want to hold on to their seats.
Nadine Dorries MP who originally backed Truss to be PM now seems to be calling for a general election. I think Truss may have a difficult time getting anything through in the commons. Nobody asked for a Channel 4 sell - off mind. The public were overwhelmingly against it.

 

Edited 3 October, 2022 by @Lee

[Ootohere]

The Tory Chancellor is reversing many many things,

the fact that it is things brought in by various Tory Chancellors who have been doing pre budgets & budgets since 2010 seems to matter not to him. 

[@Lee]

There's another 'fiscal event' coming. Let's hope it's not as anti growth as the last one.
https://www.theguardian.com/politics/2022/oct/10/kwasi-kwarteng-debt-cutting-plan-31-october-obr-forecasts?CMP=Share_iOSApp_Other

[lol-lol]

1 hour ago, @Lee said:

There's another 'fiscal event' coming. Let's hope it's not as anti growth as the last one.
https://www.theguardian.com/politics/2022/oct/10/kwasi-kwarteng-debt-cutting-plan-31-october-obr-forecasts?CMP=Share_iOSApp_Other

 

Debt cutting plan !!   Sounds ominous.  

 

1. Cut Departmental spending (but go ahead with lots of new road projects, Air balloon tunnel (?)
2. Limit pension, benefits to average salary rise ie about 5.5% rather than inflation at 10% ?   

Not sure these will go down well with millions of UK citizens.

 

With NI hike tax dropping back down ie 1.5% temporary hike being cancelled, I reckon that will save me over £80 a month ie £1k a year.

Conversely employees might start paying more income tax as NI levels are dropped on November 6th. 

 

Hopefully OBR and BoE will vet the muppets planned action before he announces and potential causes another massive run on bonds and the pound. 

 

[@Lee]

Political journo's on Twitter saying they are expecting a 'major U-Turn' on the mini budget from almost a fortnight ago. 

Personally, I think the tories are done for. They know it themselves. They should just t hrow in the towel and call a General Election. Four PMs in six years is a joke and each one has been progressively worse. Imagine how much barrel scraping they'd be doing to find a replacement for Truss. 

[Ootohere]

Penny the next leader of the party not just leader of the house was sitting at PM,s yesterday straight faces.  No sign of how bad Liz was doing and how good she was feeling.   The members will get who they wanted all along.   Another disaster but that is how the party is.  Washed up.    Pity the Labour party are no better.  

[@Lee]

1 hour ago, roottoot said:

 Pity the Labour party are no better.  

They can't possibly do any worse  
 

Quote

Liz truss has already secured her place in British political history. However long she now lasts in office, she is set to be remembered as the prime minister whose grip on power was the shortest. Ms Truss entered Downing Street on September 6th. She blew up her own government with a package of unfunded tax cuts and energy-price guarantees on September 23rd. Take away the ten days of mourning after the death of Queen Elizabeth II, and she had seven days in control. That is roughly the shelf-life of a lettuce.

https://www.economist.com/leaders/2022/10/11/liz-truss-has-made-britain-a-riskier-bet-for-bond-investors?utm_medium=social-media.content.np&utm_source=twitter&utm_campaign=editorial-social&utm_content=discovery.content

Edited 13 October, 2022 by @Lee

[@Lee]

Seems rather odd for Kwarteng to have his deputy go in the meeting with the G20 finance ministers at the IMF. He was there somewhere.
Is he a spot of bother?
 

 

[Ootohere]

Kwasi Kwaerteng MP tells us he is going no place. 

 

Not many are saying they have full trust in him anymore.   He is as secure in his job as the manager of Glasgow Rangers FC.

 

When i watched Christopher Chope MP supporting him i just thought.....

[@Lee]

18 hours ago, roottoot said:

When i watched Christopher Chope MP supporting him i just thought.....

I was watching Chope on Newsnight last night. I think he must have escaped from whatever clinic he should be in. Totally deluded doesn't even cover it for that one. Another one wanging on about the invisible enemy called the anti growth coalition. 

In other news, Truss is set to make a statement at some point today. U-turn? Not according to Chope! Will she throw Kwarteng under the Truss bus? Two words, please. 'General election'.  Edited 14 October, 2022 by @Lee

[Ootohere]

This man has caused so many good  things to be blocked in parliament.   Those that elect him have lots to answer for. 

[@Lee]

5 minutes ago, roottoot said:

This man has caused so many good  things to be blocked in parliament.   Those that elect him have lots to answer for. 

I expect Christchurch to turn yellow next time around. 

Update: Looks like Kwarteng's moving out of number 11. 

Four months, four Chancellors. Strong and stable. Chaos with Milliband anyone?

Edited 14 October, 2022 by @Lee

[Ootohere]

The brilliant mind without any common sense.  I wondered what his Economist father thinks. 

[@Lee]

46 minutes ago, @Lee said:

I expect Christchurch to turn yellow next time around. 

Update: Looks like Kwarteng's moving out of number 11. 

Four months, four Chancellors. Strong and stable. Chaos with Milliband anyone?

And he's gone. Truss supported him and his budget. She should go as well.

Edited 14 October, 2022 by @Lee

[Ootohere]

The Glasgow Rangers manager outlasted the Chancellor then.   

 

He will be in great demand in the financial world. Not!

 

PS

The Useful Idiot now would be Greg Hands MP as Chancellor.   

The Seriously deluded dude as shown yesterday and today. 

 

Geeza a job, any job, i speak 5 European Languages and nonsense in any of them. 

Make me Trade Minister as i can do as well as Liz Truss did.  

 

 

 

 

Edited 14 October, 2022 by roottoot

[Lady Elanore]

Going well for the government so far, isn't it! It's starting to look like a Trump administration with the speed of staff changes. Westminster had best fit revolving doors. 

[@Lee]

They should just call a General Election and put the party out of its misery.
Truss has completely abandoned the Manifesto that the tory party was voted in on in 2019. She has no mandate for what they're doing other than from 80 odd thousand tory party members. Labour are riding higher in the polls more now than they were in 1997. 
Oh, and Labour should bring in proportional representation if/ when they get in. No doubt the tory party will be begging for it by then.

Update. Looks like Chief Secretary to the Treasury Chris Philip is also on his way out.🎪🎪🎪 🤡🤡🤡

Side note; David Blaine was in a box in Trafalger Square for longer than Kwarteng was in No 11.

Edited 14 October, 2022 by @Lee

[@Lee]

The new Chancellor... If he plays his cards right, he could be PM this time next week.

Edited 14 October, 2022 by @Lee

[Lady Elanore]

You think they might have realised by now, why they have destroyed the world's (limited) faith in our economy and the pound

 

"Kwarteng is the second shortest-serving UK chancellor on record.

(The shortest serving chancellor, Iain Macleod, died of a heart attack 30 days after taking the job in 1970.)

 

Since 2019, the UK has had four chancellors, including Nadhim Zahawi who served the third shortest tenure with 63 days during a short-lived reshuffle under Boris Johnson, and Sajid Javid who served 204 days - the fourth shortest tenure since the Second World War."

[@Lee]

'UnTrusstainable'

[Lady Elanore]

Do you have the patent on that? 

 

[Lady Elanore]

I should have said 'Copywrite'  Anyhoo it's likely to be a tabloid headline tomorrow 👍🏻

[@Lee]

1 hour ago, Lady Elanore said:

Do you have the patent on that? 

 

UnTrusstainable©®™

I do now  

[lol-lol]

2 hours ago, @Lee said:

The new Chancellor... If he plays his cards right, he could be PM this time next week.

 

How many mispronunciations are we going to get from now   ???

 

 

[@Lee]

Polling carried out since Truss' 8 minutes 54 seconds speech today.