Liz Truss Resigns [Who'll be the next Prime Minister?] - Page 14

1andrew1 · 16-09-2022, 16:47

Quote:

Originally Posted by Pierre

I just despair. After the real optimism I had in 2019 that the government had the majority and opportunity to do something.

The class of politician we now have (on all sides) is piss poor, you could grab someone off the street that would have a better understanding of the UK and what the people of the UK think.

What idiot would think that in the current climate uncapping banker's bonus would have good optics? Amateurs.

I don't think you can blame Sir Ed Davey or Sir Keir Starmer or even Boris Johnson for this move.

It's clearly a Liz Truss move which anyone with an ounce of sense would tell her not to do.

**Paul** · 16-09-2022, 17:05

Quote:

Originally Posted by 1andrew1

It's clearly a Liz Truss move which anyone with an ounce of sense would tell her not to do.

How is it "clearly a Liz Truss move" ?

Its nothing more than a rumour/suggestion/gossip that the "new chancellor" is considering the move.

Its not official policy, nor has it been announced as such in any way at all.

As has been pointed out many times in the past, many things are "considered" by ministers, and thats as far as they ever get.

I would hope that Truss would clearly know that it would be as close as you can get to party [policy] suicide at the moment.

Pierre · 16-09-2022, 17:07

Quote:

Originally Posted by 1andrew1

I don't think you can blame Sir Ed Davey or Sir Keir Starmer or even Boris Johnson for this move.

I'm not blaming them for anything, I just think that they're all terrible politicians

Quote:

It's clearly a Liz Truss move which anyone with an ounce of sense would tell her not to do.

Whether it's Truss, or Kwarteng or their SPADS, they're idiots. Several places removed from reality.

jfman · 16-09-2022, 17:11

Considering they replaced the top civil servant at the Treasury, it's fair to say it's politically driven and not from the ideas floating around Whitehall.

1andrew1 · 16-09-2022, 17:12

Quote:

Originally Posted by Paul

How is it "clearly a Liz Truss move" ?

Its nothing more than a rumour/suggestion/gossip that the "new chancellor" is considering the move.

Its not official policy, nor has it been announced as such in any way at all.

As has been pointed out many times in the past, many things are "considered" by ministers, and thats as far as they ever get.

I would hope that Truss would clearly know that it would be as close as you can get to party [policy] suicide at the moment.

It's not gossip - Kwasi Kwarteng mentioned it to the City last week. He's seeking a Brexit benefit and believes he has found one that makes the City of London more attractive It's a high-risk strategy so makes sense to get it out of the way before an election.

Will be interesting to see what happens.

Sephiroth · 16-09-2022, 17:29

Maybe a terrible look to those who hate the Tories. But there is some logic behind this. By not capping the bonuses, salaries won’t need to rise further to compensate for the cap. Banking is a competitive high wage industry and is the bread and butter service for the UK. Bonuses mean reward for success; salaries are an overhead especially in bad times.

Less emotion, more proper understanding.

Jaymoss · 16-09-2022, 17:34

Quote:

Originally Posted by Sephiroth

Maybe a terrible look to those who hate the Tories. But there is some logic behind this. By not capping the bonuses, salaries won’t need to rise further to compensate for the cap. Banking is a competitive high wage industry and is the bread and butter service for the UK. Bonuses mean reward for success; salaries are an overhead especially in bad times.

Less emotion, more proper understanding.

Problem is we have all seen them rewarded for failures

**Paul** · 16-09-2022, 17:46

Quote:

Originally Posted by 1andrew1

It's not gossip - Kwasi Kwarteng mentioned it to the City last week.

Which makes it a rumour/suggestion/gossip, nothing more.

If its announced as policy, you can complain then, while the govt plans for losing the next election.

jfman · 16-09-2022, 17:47

Quote:

Originally Posted by Jaymoss

Problem is we have all seen them rewarded for failures

When you’re at the roulette wheel with taxpayers funding your losses bonuses encourage perverse behaviours.

Sephiroth · 16-09-2022, 17:57

Quote:

Originally Posted by Jaymoss

Problem is we have all seen them rewarded for failures

That’s a different point. Corporately, the banks want this so that they become less burdened by fixed costs.

ianch99 · 16-09-2022, 18:54

Quote:

Originally Posted by jfman

Trickle up economics is back.

Never went away

Mr K · 16-09-2022, 19:45

Quote:

Originally Posted by denphone

l agree with Pierre as its a terrible look in the current climate.

Grabbing the cash for themselves and their mates whilst they can Den.

1andrew1 · 16-09-2022, 20:10

Quote:

Originally Posted by Mr K

Grabbing the cash for themselves and their mates whilst they can Den.

I think Truss and Kwarteng genuinely believe this idea is in the country's best interests.

Sephiroth · 16-09-2022, 21:00

Quote:

Originally Posted by 1andrew1

I think Truss and Kwarteng genuinely believe this idea is in the country's best interests.

So do I, Andrew. And we're both cleverer than they are!

OLD BOY · 16-09-2022, 21:31

Quote:

Originally Posted by 1andrew1

I don't think you can blame Sir Ed Davey or Sir Keir Starmer or even Boris Johnson for this move.

It's clearly a Liz Truss move which anyone with an ounce of sense would tell her not to do.

Liz is just bringing us in line with our competitors. In the end, it should increase our income as a country, which is all that matters.

Otherwise, we wouldn’t be able to pay down our debt and the poor would be amongst those who would suffer for that. The strategy is to increase investment and growth to pay down our debt. That should be the focus, not the politics of envy.