news & politics:discussion

[Guest]

Apparently the IMF’s own words don’t mean what the say. They singled out the UK but it’s everyone’s issues.

Tories are shameless. 

Edited September 28, 2022 by Ozanne

[Guest]

Lol straight from the Tories playbook

‘it’s not just the U.K.’

[lost]

4 minutes ago, steviewevie said:

IMF singled out UK...particularly the unfunded tax cuts.

I hadn't read the statement I just have. It doesn't say anything about these issues in the bond market.

[steviewevie]

Almost positive!

[pink_triangle]

So do we expect the torys to go full out immigrant bashing, trans bashing and stoking culture wars in conference?

[zahidf]

Good news!

 

 

[zahidf]

Just now, pink_triangle said:

So do we expect the torys to go full out immigrant bashing, trans bashing and stoking culture wars in conference?

I imagine so! Only card they have left now they've shredded their economic competence.

[Guest]

2 minutes ago, lost said:

I hadn't read the statement I just have. It doesn't say anything about these issues in the bond market.

Next time read the report before you comment.

https://www.reuters.com/world/uk/imf-says-uk-fiscal-measures-will-likely-increase-inequality-urges-rethink-2022-09-27/

[lost]

Just now, Ozanne said:

Next time read the report before you comment.

https://www.reuters.com/world/uk/imf-says-uk-fiscal-measures-will-likely-increase-inequality-urges-rethink-2022-09-27/

All that says is the borrowing is being spent in a way they disagree with not that the borrowing is wrong. As I said nothing to do with the bond market.

[Guest]

1 minute ago, lost said:

All that says is the borrowing is being spent in a way they disagree with not that the borrowing is wrong. As I said nothing to do with the bond market.

It explicitly mentions tax measures which benefit high income earners which is what I said and you claimed wasn’t the reason.

Read it next time. 

[pink_triangle]

4 minutes ago, zahidf said:

I imagine so! Only card they have left now they've shredded their economic competence.

Competition to say "woke" the most in a speech.

[lost]

1 minute ago, Ozanne said:

It explicitly mentions tax measures which benefit high income earners which is what I said and you claimed wasn’t the reason.

Read it next time. 

eh? I said that bit of borrowing didnt blow up the bond market. Find me where I said it didn't benefit higher earners.

Edited September 28, 2022 by lost

[Guest]

3 minutes ago, lost said:

eh? I said that bit of borrowing didnt blow up the bond market. Find me where I said it didn't benefit higher earners.

You commenting back when I said it was the tax cuts for the rich, claiming it wasn’t and originally tried to blame the energy plan.

If you weren’t talking about the tax cuts then you wouldn’t have referenced the cost compared to Covid.

 

[steviewevie]

6 minutes ago, lost said:

eh? I said that bit of borrowing didnt blow up the bond market. Find me where I said it didn't benefit higher earners.

bit of borrowing?

Ozanne said that the un-funded tax cuts in that mini budget have led us to this, as in this situation where markets have reacted very badly to the mini-budget thing...you started blabbing on about covid tests costing more.

[fred quimby]

11 minutes ago, Ozanne said:

Next time read the report before you comment.

https://www.reuters.com/world/uk/imf-says-uk-fiscal-measures-will-likely-increase-inequality-urges-rethink-2022-09-27/

That is not the report, but a Reuters article

[steviewevie]

Apparenty whitehall are going to make efficiency savings.

Sorted.

[lost]

1 minute ago, Ozanne said:

You commenting back when I said it was the tax cuts for the rich, claiming it wasn’t and originally tried to blame the energy plan.

If you weren’t talking about the tax cuts then you wouldn’t have referenced the cost compared to Covid.

 

OK Your clearly unable to follow the conversation. 

We were talking about QE being relaunched to buy government debt and bring yields down. I said if the market is refusing to buy government debt it is clearly going to be more worried about an amount 10 times more than a smaller amount.

[Guest]

1 minute ago, fred quimby said:

That is not the report, but a Reuters article

I know my post doesn’t say it was. What it is has is quote from the IMF though. 

[lost]

5 minutes ago, steviewevie said:

bit of borrowing?

Ozanne said that the un-funded tax cuts in that mini budget have led us to this, as in this situation where markets have reacted very badly to the mini-budget thing...you started blabbing on about covid tests costing more.

I honestly cant see how its so difficult to grasp. You earn £20k a year. You apply for a £60k mortgage or a £1 million mortgage. Which is the bank going to have a bigger issue with? Where they maybe starting to think they may not get their money back?

Edited September 28, 2022 by lost

[Guest]

1 minute ago, lost said:

OK Your clearly unable to follow the conversation. 

We were talking about QE being relaunched to buy government debt and bring yields down. I said if the market is refusing to buy government debt it is clearly going to be more worried about an amount 10 times more than a smaller amount.

No, you are making things up now. I was talking about the IMF which has added to the issues today.

Why should I take your stock in anything when you don’t even read the report you’re talking about?

[steviewevie]

7 minutes ago, fred quimby said:

That is not the report, but a Reuters article

kin'ell

https://www.imf.org/en/Countries/GBR

[Guest]

Just now, lost said:

I honestly cant see how its so difficult to grasp. You earn £20k a year. You apply for a £60k mortgage or a £1 million mortgage. Which is the bank going to have a bigger issue with?

It doesn’t matter because the IMF has the issues with the tax cuts for high earners. That’s the point we were saying. 

[fred quimby]

35 minutes ago, Ozanne said:

The 45 tax rate for the rich is the one I mean. The IMF’s issues are with the tax cut plans not the energy bill plan. 

Do you have the figure the extra 5% brings in to the treasury as I have heard from independent sources say £8b but can not find anything online to back that up. Do you have anything

If it is £8b I doubt the IMF would be saying about that, only in part maybe. They are looking at the whole thing and not just one part.

I personally do not think it should have been cut, very dumb move. I get their argument but disagree with it totally.

[fred quimby]

1 minute ago, steviewevie said:

kin'ell

https://www.imf.org/en/Countries/GBR

Tar darling

[steviewevie]

5 minutes ago, lost said:

I honestly cant see how its so difficult to grasp. You earn £20k a year. You apply for a £60k mortgage or a £1 million mortgage. Which is the bank going to have a bigger issue with?

remember I failed so don't understand your economic mumbojumbo...but we're not talking about a house, or a mortgage...we're talking about a country and it's currency value. And the markets were obviously spooked by the mini budget on Friday, and as far as I know Kwarteng spent fuck all on covid tests.