The Conservative Party

Looks like the BoE bailout will cost even more than the tax cuts. £5bn per day for 13 days according to the FT. That’s £65bn.
 
blueparrot said:
This government isn't lasting beyond another 9 months.
Click to expand...
Nonsense. Since the fixed term parliament act, there's no possibility of an early general election unless (a) Labour get a 2/3rds majority for one (no chance) or (b) the government fails a no confidence vote. It is not going to vote for no confidence in itself! And neither are Tory MPs going to vote for a GE that they would certainly lose right now. So you are stuck with the Tories until January 2025.

Of course should the world be in a better place before then, and a Tory victory look likely, then they could call one and conceivably Labour would support it... and go on to lose again. So that aint happening either.
 
Phil1 said:
There’ll be a fair few. Usually in their 60s/70s and financially stable so not arsed about what might happen in next few years.
It’s how they’ve clung to power, sadly.
Click to expand...
Spoke to my 73 year old Tory diehard Aunt last night. She's financially well off and hates Labour always has, but it's got worse as she has got older. Her father (my union activist labour supporting grandfather) would be spinning in his grave.
However, she told me she's not voting again. And that's a first, trust me.
 
mackenzie said:
Spoke to my 73 year old Tory diehard Aunt last night. She's financially well off and hates Labour always has, but it's got worse as she has got older. Her father (my union activist labour supporting grandfather) would be spinning in his grave.
However, she told me she's not voting again. And that's a first, trust me.
Click to expand...
Heard this repeatedly. Moderate Tories don't want this ideological crusade to ruin either.
 
ZenHalfTimeCrock said:
Same here. Just started receiving a pension after making 26 years of contributions and now have to contemplate a future in which I may not be able to count on it the way things are going, especially if the BofE’s intervention is just a sticking plaster.
Click to expand...
This is not to lump on your misery but, according to the government, there is plenty of work for the striving employee, and they can make it to the top if they are willing to trample on those that they pass along the way.

Only joking, mate. I really do feel for those in this current situation. It’s down right appalling what they’ve done.
 
Chippy_boy said:
Nonsense. Since the fixed term parliament act, there's no possibility of an early general election unless (a) Labour get a 2/3rds majority for one (no chance) or (b) the government fails a no confidence vote. It is not going to vote for no confidence in itself! And neither are Tory MPs going to vote for a GE that they would certainly lose right now. So you are stuck with the Tories until January 2025.

Of course should the world be in a better place before then, and a Tory victory look likely, then they could call one and conceivably Labour would support it... and go on to lose again. So that aint happening either.
Click to expand...
Of course, all that might be true had the fixed term parliament act not been repealed in March……
 
west didsblue said:
Looks like the BoE bailout will cost even more than the tax cuts. £5bn per day for 13 days according to the FT. That’s £65bn.
Click to expand...
It will very likely make money actually, or at the least limit the government’s losses when they do start to sell gilts back to the market, as the MPC intends to do this year. Overall it should be fiscally positive.

The funds used in the new bailout purchases are just newly created central bank reserves, not new government borrowing, and in theory the BoE is now buying gilts at distressed levels, at least relative to recent history. If we have a new government in the near future (i.e. Sunak), then there would be a very good chance that gilt values will rise significantly, and so the gilts the BoE will be buying in the next fortnight could then be sold back to the market at a higher price.

This bailout should therefore make money in itself, and more importantly limit the losses (which could be materially larger) the government faces when it eventually unwinds the APF. Most of the gilts bought in the APF were purchased at much higher prices than current market levels, and if a loss is made when the BoE sells them back to the market, the government has to stump up the difference.

So today’s actions should reduce the potential losses presented by any APF unwind, but the whole issue and the dynamics behind the APF and gilt values just demonstrates how idiotic Kwarteng’s actions have been, and why he should be kicked out of office.
 
west didsblue said:
Are we supposed to ignore the last three years of your pro-Brexit comments after you changed from a Remainer to an ardent Brexiteer to demonstrate your unequivocal support for the fat fraud Johnson?

You probably need to re-evaluate your political outlook and you might discover it's not a good idea to support a political party like you support a football team, and not defend every shit decision they make whilst blaming someone else for any problems.
Click to expand...
You're just being silly now. Actually you were being silly before.

I was a Remainer, I voted Remain and I campaigned on here passionately for the referendum to be re-run so we could get a remain victory. It just became obvious that in the end, that wasn't going to happen and mates persuaded me (I think correctly, in hindsight) that the Brexit vote was democratic and had to be respected. I've never been a fan of Boris - in fact I think he's a berk. But I do accept that he got things done, and I think he was extremely unlucky with COVID biting him in the arse not long into government. And the outrage over Partygate was rank hypocrisy by all concerned since half the fucking country broke the rules, including Labour MPs.
 
The Light Was Yellow Sir said:
Of course, all that might be true had the fixed term parliament act not been repealed in March……
Click to expand...
Really? I must have missed or forgotten that. Thanks.

It's all still true though. The opposition don't have enough votes to win a no-confidence vote and there's no way Tory MPs are going to vote for a Labour government are they. So anyone on here imagining they will have less than 2+ years more of Tory rule, well, they are politically naive dreamers.
 
Chippy_boy said:
I was a Remainer, I voted Remain and I campaigned on here passionately for the referendum to be re-run so we could get a remain victory. It just became obvious that in the end, that wasn't going to happen and mates persuaded me (I think correctly, in hindsight) that the Brexit vote was democratic and had to be respected. I've never been a fan of Boris - in fact I think he's a berk. But I do accept that he got things done, and I think he was extremely unlucky with COVID biting him in the arse not long into government. And the outrage over Partygate was rank hypocrisy by all concerned since half the fucking country broke the rules, including Labour MPs.
Click to expand...

Comedy gold.

If you asked a Tory defence bot to defend themselves and Johnson then this is what it would sound like.
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top