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

[ianch99]

Made me laugh

Tabloid headline today:

Honey, I shrunk the quids!

and, seen on Twitter:

Traders are referring to Truss as “Daggers” - as in Dagenham, 2 stops past Barking…

Also, apparently Sunak said this is August, wow!

Just to be clear that's a writer in The Spectator mocking Sunak's 'doomer' predictions.

Which has become a theme in recent years. Promise unicorns such as tax cuts and increased spending and mocking any warnings of the consequences as doomerism.

[ianch99]

Originally Posted by Damien

Just to be clear that's a writer in The Spectator mocking Sunak's 'doomer' predictions.

Which has become a theme in recent years. Promise unicorns such as tax cuts and increased spending and mocking any warnings of the consequences as doomerism.

Just to be clear, it is not a writer in The Spectator who said this, it is Sunak who apparently said this:

In August, Sunak had warned that it would be “complacent and irresponsible" to ignore the risk of markets losing confidence in the British economy, as wagers against UK government debt sent short-term borrowing costs in the gilt market soaring.

“There will be a run on sterling. The gilts market will be in freefall. And the FTSE will tumble as global investors take fright and sell off every form of British asset. It might take only a few days, or the government might stagger through until the end of September, but before long Liz Truss and her new Chancellor Kwasi Kwarteng will have been forced to call in the IMF to stabilise a collapsing economy," Sunak had said.

[BenMcr]

Originally Posted by ianch99

Just to be clear, it is not a writer in The Spectator who said this, it is Sunak who apparently said this:

Yes, but the Spectator article was saying he was 'Project Fear', rather than agreeing with him.

Apparently, it’s all Labour’s fault…

(This "gentleman" is a Daily Telegraph columnist, and an IEA Fellow/Academic Advisor (the IEA is a London-based free-market thinktank, mostly funded by US Right wing/Libertarian donations).

btw, Liz Truss’s chief economic adviser is Matthew Sinclair, former chief executive of the TaxPayers' Alliance, who was the chief executive of Vote Leave. Andrew Lilico was Vote Leave's chief economist…

[ianch99]

Originally Posted by BenMcr

Yes, but the Spectator article was saying he was 'Project Fear', rather than agreeing with him.

Yes, forget the Spectator idiot. The point was the recent Chancellor who had an expert read on the country's finances was totally ignored when he predicted what would happen if the membership elected Truss over him.

[jfman]

Originally Posted by Hugh

Apparently, it’s all Labour’s fault…

(This "gentleman" is a Daily Telegraph columnist, and an IEA Fellow/Academic Advisor (the IEA is a London-based free-market thinktank, mostly funded by US Right wing/Libertarian donations).

[GrimUpNorth]

We know it's bad when even the staunchest government supporters amongst us are MIA, could it be because even in their most vivid dreams they never thought a UK government would be able to destroy UK plc so successfully, and it's not even a loony lefty labour one that's destroying it! It's almost as if the Conservatives have had enough of power and don't want it again for many many years so are making sure they won't even get a sniff of it again.

I bet Jezza is taking notes and learning where his (what now appear to be quite restrained and sensible) spending plans went so wrong and cost him the last election.

[Sephiroth]

Staunch Conservative & staunch government supporters are not always the same thing.

Hence I am not MIA and I need to see how this plays out on the short term.

[jfman]

Originally Posted by GrimUpNorth

We know it's bad when even the staunchest government supporters amongst us are MIA, could it be because even in their most vivid dreams they never thought a UK government would be able to destroy UK plc so successfully, and it's not even a loony lefty labour one that's destroying it! It's almost as if the Conservatives have had enough of power and don't want it again for many many years so are making sure they won't even get a sniff of it again.

I bet Jezza is taking notes and learning where his (what now appear to be quite restrained and sensible) spending plans went so wrong and cost him the last election.

Ultimately the underbelly of the Conservative support is people who believed that if the drawbridge was pulled up they’d be on the right side of it.

As it turns out you can be on safely above average earnings, have mortgaged yourself in an average house, and between inflation, energy and spiralling interest rates hundreds of pounds a month worse off.

That wasn’t the deal.

[1andrew1]

Virgin Atlantic chief urges UK to reverse planned tax cuts to bolster pound

Virgin Atlantic’s chief executive has called on the UK government to “consider reversing” some policies announced last week to bolster the pound and assuage worries over the economy.

Shai Weiss on Tuesday said he was concerned about the direction of Liz Truss’s government since it took office less than a month ago.

“Truss said she would take difficult decisions upon entering into the role,” he said. “Maybe they need to take more difficult decisions to reverse the decline of the pound and ensure this country is not left with . . . perceived weakness in international markets.”

“Sometimes all of us in this room should be humble enough to say that if I said something that is not working, maybe I should reverse course, that is not a bad thing to do,” he added.

https://www.ft.com/content/9e973795-...5-d94c13753bb6

---------- Post added at 11:42 ---------- Previous post was at 11:24 ----------

Originally Posted by Sephiroth

Staunch Conservative & staunch government supporters are not always the same thing.

Hence I am not MIA and I need to see how this plays out on the short term.

Now is the time for all true Conservatives to step off the sidelines and ask for the unfunded tax cuts to be postponed.

[Mad Max]

Just vote Labour and everything will be fine.

[BenMcr]

Originally Posted by Mad Max

Just vote Labour and everything will be fine.

Apparently potentially voting Labour is a reason the markets didn't like the mini-not-budget

https://twitter.com/andrew_lilico/st...33068626579463

I still think the market reaction was mainly to what the mini-Budget said about the BoE decision, but I've thought of a potential secondary factor. The market may have felt that the mini-Budget implied a Labour victory in 2024/25 is more likely than they had previously thought.+

[1andrew1]

Originally Posted by BenMcr

Apparently potentially voting Labour is a reason the markets didn't like the mini-not-budget

https://twitter.com/andrew_lilico/st...33068626579463

I've seen some straw-clutching in my time, but that takes the proverbial.

[BenMcr]

Originally Posted by 1andrew1

I've seen some straw-clutching in my time, but that takes the proverbial.

As someone commented on that, it's difficult after 12 years to blame the last Labour government for current problems, so it's now time to apparently blame the next one instead