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

[RichardCoulter]

Originally Posted by OLD BOY

The OBR cannot produce the numbers until the government has set out in detail how the offsetting savings can be made.

I agree with you on the November date, which is what I said.

You seem to be the dreamer here, dreaming things I don’t say and twisting what I do say.

---------- Post added at 16:22 ---------- Previous post was at 16:18 ----------



The government hasn’t taken anything from the poor! Where did you get that from?

Links have been posted about them appearing to renege on the promise to increase pensions/benefits with inflation.

These have always been updated every year, apart from the recent years where they were frozen by Cameron & May.. In real terms, benefit recipients are already worse off as it is. Many are now living beliw the poverty line.

The Truss Government is now refusing to confirm that there will be an uprating in April 2023, at a time of record levels of inflation.

[jfman]

Originally Posted by OLD BOY

There are two sides to this particular crisis, and you only want to debate the alternative view.

Rubbish Old Boy, worse than your usual. There’s one side to this debate and one only. Truss is free wheeling the economy into chaos and you think it’s alright because some work experience kid wrote a policy paper for a think tank once.

If anyone is going to break established groupthink of the macroeconomic world I can absolutely assure you it will not be Liz Truss

By hysterical reaction I assume you mean those funds worth billions betting against the UK to the extent we have to print money to bet against them? Surely you of all people should admire their entrepreneurial spirit.

[OLD BOY]

Originally Posted by jfman

Rubbish Old Boy, worse than your usual. There’s one side to this debate and one only. Truss is free wheeling the economy into chaos and you think it’s alright because some work experience kid wrote a policy paper for a think tank once.

If anyone is going to break established groupthink of the macroeconomic world I can absolutely assure you it will not be Liz Truss

By hysterical reaction I assume you mean those funds worth billions betting against the UK to the extent we have to print money to bet against them?

I do believe you have just proved my point. ‘Nuff said.

[jfman]

Originally Posted by OLD BOY

I do believe you have just proved my point. ‘Nuff said.

If you can’t see the woods for the trees I can’t help you, OB. Enjoy your Friday night.

[GrimUpNorth]

Originally Posted by OLD BOY

If so, it is yet another mischaracterisation. Let’s keep to the topic, shall we?

---------- Post added at 19:18 ---------- Previous post was at 19:14 ----------



Pedantry reigns. I guess it depends how you interpret statements, but I was talking about what the government has stated on a number of occasions.

The OBR isn’t waiting for anything, but the government wants to fine tune its plans before getting them criticised on some technical detail.

If technical details were the only things to be critical about I think there'd be national rejoicing. I think the only fine tuning available to them other than accepting they screwed up is how much genetically modifying of the magic money tree can we get away to try improve the yield.

Sometimes you've got to accept you just didn't back a winner.

[Pierre]

Originally Posted by jfman

If you can’t see the woods for the trees I can’t help you, OB. Enjoy your Friday night.

[Dave42]

'Multiple' Tory MPs may join forces with Labour to bring down parts of mini budget, writes Lewis Goodall

https://www.lbc.co.uk/news/tory-mps-labour-mini-budget/

https://twitter.com/parody_pm/status...fLRhjMXrQj9scg

[1andrew1]

Another issue for Truss. I'm sure Johnson would have got the cheque book out but I'm less sure about Truss.

British Steel's Chinese owner seeks huge government aid package

Jingye Group has indicated that British Steel's two blast furnaces will not be commercially viable without hundreds of millions of pounds of taxpayer support, Sky News learns.

The owners of Britain's second-biggest steel producer are seeking an urgent package of financial support from taxpayers amid renewed fears for thousands of industrial jobs in the north of England.

Sky News has learnt that Jingye Group, which bought British Steel out of insolvency in 2020, has told ministers that the company's two blast furnaces are unlikely to be viable without government aid.

British Steel, which is headquartered in Scunthorpe, north Lincolnshire, employs about 4,000 people, with thousands more jobs in its supply chain dependent upon the company.

The request from Jingye poses a major headache for Jacob Rees-Mogg, the new business secretary, on the eve of the Conservative Party's annual conference in Birmingham.

While the precise scale of the support being sought by the Chinese industrial group was unclear this weekend, insiders suggested that it would need "hundreds of millions of pounds" to keep the Scunthorpe blast furnaces operational.

For Mr Rees-Mogg, who took over as business secretary less than a month ago, a decision over government support presents a politically undesirable menu of choices.

If no state funding is made available and significant numbers of jobs are axed, it would undermine a key tenet of the 'levelling-up' strategy that became a doctrine of Boris Johnson's administration.

An agreement to provide substantial taxpayer funding to a Chinese-owned business, however, would almost certainly provoke outrage among Tory critics of Beijing.

China's role in global steel production, after years of international trade rows about dumping, would make any subsidies even more contentious.

https://news.sky.com/story/british-s...ckage-12708894

Not sure if anyone has shared this critique by Andrew Neil yet. It was published in the Daily Heil but don’t let that put you off, it’s actually quite balanced (and very critical):

https://www.dailymail.co.uk/debate/a...DREW-NEIL.html

Originally Posted by Chris

Not sure if anyone has shared this critique by Andrew Neil yet. It was published in the Daily Heil but don’t let that put you off, it’s actually quite balanced (and very critical):

https://www.dailymail.co.uk/debate/a...DREW-NEIL.html

Quote of the week

It regularly baffles me how little free marketeers understand how free markets work.

[jfman]

Originally Posted by Hugh

Quote of the week

I’m still just hugely entertained that Truss got elected acknowledging decades of economic failure then just delivered the same on steroids in a mere two weeks.

[jfman]

https://www.thetimes.co.uk/article/k...rash-kwdbs72g0

Oh dear a dinner for Kwasi to celebrate with everyone betting against Britain.

Article has a paywall but the headline summary is enough for me he’s a goner

[RichardCoulter]

BBC news says a poll shows that nearly half of all Tory supporters have now deserted them.

If I were a betting man i'd say that Truss will be ousted before too long in favour of Sunak.

[jfman]

Originally Posted by RichardCoulter

BBC news says a poll shows that nearly half of all Tory supporters have now deserted them.

If I were a betting man i'd say that Truss will be ousted before too long in favour of Sunak.

I can’t see the membership voting for him.