The Conservative Party

meltonblue said:
So gilts have gone through the roof, which effectively means it costs considerably more now to borrow (when we’re just about to borrow more money than at any time in the last seventy years), which means the government will have to spend more money servicing that debt instead of elsewhere, such as spending on public services.

Coupled with that, the pound is tanking, not just against the dollar, which means anything imported today costs considerably more than it did even last week. That’ll have a knock on effect for consumers in terms of rising prices, so pushing inflation even further and so everyone in real terms will be a lot worse off, even with the tax cuts, which still made most people worse off anyway. The Bank of England will react to try and bring inflation back under control, rising interests rates further which will also then have an impact.

So ultimately, if they are after growth, I can’t see how that can possibly happen unless it’s foreign investment flooding the market, which will take considerable time to flow through. That’s assuming it actually does - given the trade barriers we’ve self inflicted, even with the cheap currency, we’re not a particularly attractive proposition in a lot of sectors.
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Fucking hell, we're fucked then!! Cheers for the in depth response.
 
bluethrunthru said:
As we go to bed Asian markets open and the pound continues to fall...........the bet isn't a winner is it?

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Tories give loads away to the rich and tells the BoE to do their job. Pound tanks meaning the they now need to increase interest rates to counter, meaning huge increases to the middle England who have mortgages, credit cards, need loans, etc, which they once could afford. Moving down the line, Middle England goes skint with some losing their houses, jobs, everything that they were accustomed to while those that got lots of money from the government nip in and buy the surplus stock and other things that have now been sold off.

It‘s an even more vicious circle that the government has just created and one that I believe has been planned. The economic fallout would have been known.
 
Elbow beards said:
Fucking hell, we're fucked then!! Cheers for the in depth response.
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Pretty much, at least for the short term.

It would be a gamble even in times of stability, there would be some logic to it though. Doing it whilst simultaneously announcing the biggest amounts of borrowing since just after the war is taking it to another level.
 
Chippy_boy said:
And so do I. But I guess your empathy is more valid then mine because you shout louder.
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Well you were spouting stuff yesterday, that I answered directly and you've chosen to ignore the challenge. That is just typical that when some actual experiences are put in front of you, you move on to more nonsense. If you truly believe that it is sad that people are asking how much money hedge funds and the like, run by ministers, are making as the result of goverment policy, then we really are in trouble. It is no secret that the likes of Farage made ££££££ when the £ slumped after Brexit, and here are you still thinking it's alright for this type of thing to happen.
 
hampshireblue said:
Well you were spouting stuff yesterday, that I answered directly and you've chosen to ignore the challenge
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Ignore what? I didn't even see it - still haven't. I am not on here 24x7 you know, and funnily enough I am not "following" you either.

EDIT: I have just searched for your posts and still don't see any challenge nor any post requesting a reply. Your last reply to me was you making a statement, which requires no response.
 
Sometimes its good to stand back from the detail of policy and look at the overall effect. Essentially the last 10-12 years have been the majority of the population having a sort of whip round to transfer wealth to the already wealthy. Austerity, brexit, pandemic etc are used to excuse/cover up this basic truth.
 
Gaudion M said:
Corbyn would be far better than this. I hate the man, but his policies would not have destroyed our economy, his incompetence maybe but it would not be deliberate.
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Fuck me, the budget is less than 1 working day old. Now I can understand lefties not wanted to even consider that these policies might actually work, but even so.

Let's revisit this is a year or so and see how things are doing. If the economy is "destroyed" by then, well fair enough. But after less than 1 day? Give over.
 
Chippy_boy said:
Fuck me, the budget is less than 1 working day old. Now I can understand lefties not wanted to even consider that these policies might actually work, but even so.

Let's revisit this is a year or so and see how things are doing. If the economy is "destroyed" by then, well fair enough. But after less than 1 day? Give over.
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What is a year going to do? The mega rich will keep more of their money. Everyone else is worse off today than they were a week ago because of the collapse of the pound. As inflation continues to outpace wages and pensions etc this will just get worse. So after a year of 95%+ of us being worse off how are things going to get any better?

There is zero evidence that the Truss plan is going to work, in fact there is significant evidence already that its going to be a disaster.
 
Chippy_boy said:
Fuck me, the budget is less than 1 working day old. Now I can understand lefties not wanted to even consider that these policies might actually work, but even so.

Let's revisit this is a year or so and see how things are doing. If the economy is "destroyed" by then, well fair enough. But after less than 1 day? Give over.
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Is it just unlucky that the pound is tanking following our change in direction, or is it like Brexit, a total coincidence.
 
Gaudion M said:
That note, origin and author unknown, most assume refers to the fact that Bown's government bailed out the Banks and therefore massively increased public debt. Something that pretty much every western government did and which the tories supported. It was 100% not by choice.
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So when Labour are in power and world events cause economic disaster and hardship, it's not Labours fault. But when the Tories are in power, and with COVID we have the worst economic shock since WW2, immediately followed by a war in Europe causing a 10X increase in gas prices, the lefties on here say the Tories are to blame for our predicament. Right.
 
Chippy_boy said:
Fuck me, the budget is less than 1 working day old. Now I can understand lefties not wanted to even consider that these policies might actually work, but even so.

Let's revisit this is a year or so and see how things are doing. If the economy is "destroyed" by then, well fair enough. But after less than 1 day? Give over.
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If the economy is destroyed, then fair enough? That just about sums up the current policy.….
I’m just hoping some grown ups will take charge sooner rather than later.
 
Chippy_boy said:
Fuck me, the budget is less than 1 working day old. Now I can understand lefties not wanted to even consider that these policies might actually work, but even so.

Let's revisit this is a year or so and see how things are doing. If the economy is "destroyed" by then, well fair enough. But after less than 1 day? Give over.
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Iv seen through the rubbish that they're just giving money to the rich. They're obviously trying to kick start things again.

they seem to have thought about the political impact of this policy but they don't seem to have thought about the market reaction. I don't see anything about that, no forewarning, no planning for that, just doubling down on their commitments.


The whole thing reeks of amateurish, we've got people in charge that are third rate politicians, the only ones left after the various culls that have happened.

So how you can even mention "lefties"as if that's caused this I don't know. We've had a right wing govn and media fire the last ten years or so and it has failed miserably absolute failure, I can't think of anything they achieved that makes this country "better off"
 
Chippy_boy said:
Fuck me, the budget is less than 1 working day old. Now I can understand lefties not wanted to even consider that these policies might actually work, but even so.

Let's revisit this is a year or so and see how things are doing. If the economy is "destroyed" by then, well fair enough. But after less than 1 day? Give over.
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Yes let's wait until another entire forest has burned down and reassess instead of putting out that very obvious and blatant fire that's quite clearly kicked off over the past couple of days. What's the worst that can happen? It's only poor people that will be affected and who cares about them hey?

'Lefties' ffs. Yeah, the global market is just all ran by lefties tanking the pound in outrage.
 
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