news & politics:discussion

[steviewevie]

I didn't choose to do Economics...I wanted to do Sociology..but some careers bloke at the college persuaded me to do economics...better for career prospects or something...the twat.

[Guest]

6 minutes ago, steviewevie said:

errr..ok, thanks. 🥴

I actually did Economics A level...a long long time ago...and I failed with a N (i think it was an N)...and then I retook the following November and failed with a U (worse than an N). Happy days.

(I also took Maths, got an E, very appropriate...and retook in November and got a U! 😃)

You just need a C and a T in there too 😉

[steviewevie]

8 minutes ago, Ozanne said:

You just need a C and a T in there too 😉

cute?

[Guest]

Just now, steviewevie said:

cute?

Yes, that’s it. 

[lost]

19 minutes ago, Skip997 said:

Load of made up old nonsense as is anything financial

I get that most people that don't work in finance think that.

I think most people can work out a 3 figure number is bigger than a 2 figure number and are not prepared to argue black is white because ggrrr tories.

[steviewevie]

7 minutes ago, lost said:

I get that most people that don't work in finance think that.

I think most people can work out a 3 figure number is bigger than a 2 figure number and are not prepared to argue black is white because ggrrr tories.

well tbf it was the unfunded tax cuts and massive borrowing that the IMF were questioning, and which has further eroded confidence and led to boe doing what they have.

[lost]

1 minute ago, steviewevie said:

well tbf it was the unfunded tax cuts and massive borrowing that the IMF were questioning, and which has further eroded confidence and led to boe doing what they have.

Its £27bn isn't it? Not really what I'd call massive borrowing after £400bn on covid and potentially half that again to underwrite energy prices.

[Guest]

It is unfunded tax cuts for the rich, only the likes of Daniel Hannan and Andrew Lillico are trying to paint a different narrative. 

[Guest]

Haha. 

[fred quimby]

19 minutes ago, Ozanne said:

It is unfunded tax cuts for the rich, only the likes of Daniel Hannan and Andrew Lillico are trying to paint a different narrative. 

Are you talking about the 45 tax rate when you say the above? Or are you say NI decrease should be reversed?

[lost]

4 minutes ago, fred quimby said:

Are you talking about the 45 tax rate when you say the above? Or are you say NI decrease should be reversed?

Also 1p off income tax for people on over £12.5k (except the Scots)

Edited September 28, 2022 by lost

[fred quimby]

5 minutes ago, lost said:

Also 1p off income tax for people on over £12.5k (except the Scots)

Aye, just wondering what Ozanne is on about, just want to clarify 

[lost]

1 minute ago, fred quimby said:

Aye, just wondering what Ozanne is on about, just want to clarify 

Barry said he doesn't work on a different page so i assumed he classed people on £12k as the rich? people on benefits as the poor..

Edited September 28, 2022 by lost

[fred quimby]

Just now, lost said:

Barry said he doesn't work on a different page so i assumed he classed people on £12k as the rich?

Ha, aye might be true 

[efcfanwirral]

29 minutes ago, Ozanne said:

Haha. 

Right on cue! Wonder if they have the balls to announce the next x £billion from us any time soon....

[Guest]

30 minutes ago, fred quimby said:

Are you talking about the 45 tax rate when you say the above? Or are you say NI decrease should be reversed?

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. 

[Reckoner]

https://www.smh.com.au/world/europe/the-british-mps-borrowing-the-albanese-playbook-in-bid-to-topple-tories-20220926-p5bl79.html

Good article on what Uk labour are learning from the Australian victory 

Edited September 28, 2022 by Reckoner

[Guest]

 

[steviewevie]

58 minutes ago, lost said:

Its £27bn isn't it? Not really what I'd call massive borrowing after £400bn on covid and potentially half that again to underwrite energy prices.

yes, but this is what IMF said, not me, or Ozanne...and it was this that shattered confidence in UK even further. Everyone was spending shitloads during covid, it was a crisis. The tax cuts paid for by borrowing when debt already pretty bloody big was the thing that just looked reckless and silly (and I think it was £45bn)

[Guest]

Truss is a ‘danger’ to the economy according to Starmer.

 

[steviewevie]

Anyway, looks like they won't be changing course or sacking Kwarteng or anthing...not yet anyway...ride it out...then prove everyone wrong when we're no.1

Edited September 28, 2022 by steviewevie

[lost]

7 minutes ago, steviewevie said:

yes, but this is what IMF said, not me, or Ozanne...and it was this that shattered confidence in UK even further. Everyone was spending shitloads during covid, it was a crisis. The tax cuts paid for by borrowing when debt already pretty bloody big was the thing that just looked reckless and silly (and I think it was £45bn)

Well as I said I'm not convinced as the BOJ and ECB have already cracked so it doesn't seem to be just a UK issue.

Also from listening to the labour party conference hasn't Starmer already spent the 45% tax on the NHS when he gets in rather than use it to reduce borrowing? He appears to be quite comfortable with that £8bn bit of borrowing himself and doesn't appear to think its blown the bond market up.

Edited September 28, 2022 by lost

[steviewevie]

10 minutes ago, steviewevie said:

yes, but this is what IMF said, not me, or Ozanne...and it was this that shattered confidence in UK even further. Everyone was spending shitloads during covid, it was a crisis. The tax cuts paid for by borrowing when debt already pretty bloody big was the thing that just looked reckless and silly (and I think it was £45bn)

and actually it wasn't just IMF...markets were reacting pretty badly almost straight after the mini budget.

[steviewevie]

4 minutes ago, lost said:

Well as I said I'm not convinced as the BOJ and ECB have already cracked so it doesn't seem to be just a UK issue.

Also from listening to the labour party conference hasn't Starmer already spent the 45% tax on the NHS when he gets in rather than use it to reduce borrowing? He appears to be quite comfortable with that bit of borrowing himself.

that's cause he's a smooth operator.

[steviewevie]

5 minutes ago, lost said:

Well as I said I'm not convinced as the BOJ and ECB have already cracked so it doesn't seem to be just a UK issue.

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