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

[denphone]

Originally Posted by Dave42

Bank of England launches bond-buying programme to prevent 'material risk' to UK financial stability

https://news.sky.com/story/bank-of-e...panic-12706827

so basically the BOE trying to save the country from it own government

Had they not intervened pension funds were on the imminent brink of insolvency which is why the Bank of England had to act.

---------- Post added at 15:47 ---------- Previous post was at 15:41 ----------

Originally Posted by jfman

I genuinely didn’t think this year could get any funnier than Boris being kicked out by his own backbenchers. But the Tories implosion from here very well could top that.

Given the chaos of 4 leaders in 6 years they might try to get rid of Truss but the problem there is unless the leadership rules are changed they cannot have a leadership contest for another 11 months.

There is of course a small possibililty of a no confidence vote but that would be like turkey's voting for Christmas.

[1andrew1]

Originally Posted by jfman

I genuinely didn’t think this year could get any funnier than Boris being kicked out by his own backbenchers. But the Tories implosion from here very well could top that.

I'd pay good money to have the economy running as well as Project Fear predicted!

[denphone]

Originally Posted by papa smurf

After a couple of days ?

According to Beth Rigby on Sky News Treasury sources have said the Chancellor will not be resigning and there will be no reversal of policy.

[GrimUpNorth]

Leaked footage of a recent meeting in Downing Street?

https://youtu.be/sRJby3PCfbo

Originally Posted by Dave42

Bank of England launches bond-buying programme to prevent 'material risk' to UK financial stability

https://news.sky.com/story/bank-of-e...panic-12706827

so basically the BOE trying to save the country from it own government

[jonbxx]

Originally Posted by 1andrew1

Two interesting take-aways: How will MPs vote on the mini budget and will Kwarteng survive the financial turmoil?

https://www.ft.com/content/a46e53bb-...e-05f71d2e57ef

Interestingly, we all call this a mini budget, the press call this a mini budget but officially, this is a ‘fiscal event’ and not a budget. This means there’s no vote I am afraid. To lose a vote on the budget is pretty much a vote of no confidence as this would say the House of Commons does not agree on how the government is running the economy so they might be glad that there’s no vote!

[1andrew1]

Where's Truss when it's all going pear-shaped. Will she pop up in Ukraine?

---------- Post added at 17:32 ---------- Previous post was at 17:30 ----------

Originally Posted by jonbxx

Interestingly, we all call this a mini budget, the press call this a mini budget but officially, this is a ‘fiscal event’ and not a budget. This means there’s no vote I am afraid. To lose a vote on the budget is pretty much a vote of no confidence as this would say the House of Commons does not agree on how the government is running the economy so they might be glad that there’s no vote!

Aah, a special fiscal event operation, not a budget. Understood. Full mobilisation of MPs not required just yet!

[Mr K]

You know, I don't think they know what they're doing. (Much like a referee I witnessed last night .... tbf his mistakes won't destroy the Country...)

[1andrew1]

Had to laugh at these two Tweets from The Independent's deputy political editor.
https://twitter.com/Rob_Merrick

[jfman]

Originally Posted by jfman

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.

And now pensions are at risk.

Is there anyone left not in some financial danger from the plan to turn the UK into the biggest roulette wheel in the world?

[Sephiroth]

Originally Posted by jfman

And now pensions are at risk.

Is there anyone left not in some financial danger from the plan to turn the UK into the biggest roulette wheel in the world?

Who's gonna argue with jfman on this one? Not me.

I wanted to sit this out for a couple of weeks to see how things would develop. But outside forces (no criticism of them from me) have made it difficult for the Guvmin's policy to succeed. Indeed, I now expect the imminent Budget to undo a lot of this in sneaky ways such as reneging on the pensions triple lock.

Oh dear.

[1andrew1]

Originally Posted by Sephiroth

Who's gonna argue with jfman on this one? Not me.

I wanted to sit this out for a couple of weeks to see how things would develop. But outside forces (no criticism of them from me) have made it difficult for the Guvmin's policy to succeed. Indeed, I now expect the imminent Budget to undo a lot of this in sneaky ways such as reneging on the pensions triple lock.

Oh dear.

I had thought another Wokingham area resident or someone else might take up the cause but it seems even they acknowledge it's an impossible task. Truss can't say she wasn't warned beforehand as she was.

Seems to fit the present situation with this government.

[denphone]

Liz Truss is getting crucified in a series of local radio interviews this morning.

[1andrew1]

Originally Posted by denphone

Liz Truss is getting crucified in a series of local radio interviews this morning.

This is a national matter in which she could have done one interview instead of lots of small ones. Far better use of her time when she has an important to-do list.

Is she afraid of a big hitter taking her down in a national interview and was banking on a soft touch at local radio?