The Conservative Party

Nethermoor said:
So they're not scrapping the 45p tax and keeping it but also keeping lower rate at 20p and not 19p.

Scaling back energy support, so uncertainty really. We have this winter then no one knows what the future looks like for the working man.
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Slavery.

Workers right to strike and protest being removed this week.
 
So far Hunt has cancelled the tax reductions before they come into effect. Next step will be tax rises.

As for spending cuts, any betting on them getting through Parliament without 40 odd Tory MPs rebelling in protest? People voted in 2019 on the promise of levelling up and no cuts.
 
Gabriel said:
Is it not the case that it is being scaled back in its duration as opposed to its entirety? Rather comical if they scale it back to six months, as per Labour's policy.
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Not funny if British Gas don't put me back on the fixed tariff that they just said I should switch to variable because of the cap.
 
BobKowalski said:
So far Hunt has cancelled the tax reductions before they come into effect. Next step will be tax rises.

As for spending cuts, any betting on them getting through Parliament without 40 odd Tory MPs rebelling in protest? People voted in 2019 on the promise of levelling up and no cuts.
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Wtf can they cut now, austerity saw massive cuts lots of stuff has shut down etc, public sector are on the march for higher wages it’s all going to come to head soon.
 
Genuinely intrigued to see if Kwarteng is in the House later today or being ''a supporter" on Wednesday. Wherever he is, I'm sure he'll be smiling.
 
mancityvstoke said:
so they are scrapping the energy price caps next year?

I'm confused...God help us all
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One of the many gaffs of Truss/Kwazi plan was to agree energy help for 2 years.

It didnt need to be 2 years as we dont know where costs will be next winter. But having said it they then have to budget for it. So cutting it back to 1 year helps with the big hole in public finance.

Its a classic example of Truss being massively out of her depth and deluded in terms of what the job really involves. She claimed that 'treasury orthodoxy' was some sort of lack of ambition - she tried taking on the markets and had her arse handed to her on a plate. The numbers have to add up. That is why politics is so hard.

We get 1 year of energy help - 1 year costed in. Next year we see where we are.
 
Give it a month and Hunt will be PM.

£ is up, markets are happy, he looks and sounds competent. His fundamental philosophy is the same as Kwarteng and Truss but he's smart enough to know when and where to implement it.
 
domalino said:
Give it a month and Hunt will be PM.

£ is up, markets are happy, he looks and sounds competent.
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All the more reason why she'll probably go sooner. The announcement will calm the markets for a while but the prospect of continued political stability will dog the Government.
 
Fairly inevitable unfortunately that they would have to limit the energy price ceiling to 6 months (i.e. the end of this fiscal year) - the scheme presents a potentially unlimited upside risk to gilt issuance in the next fiscal year, so it was a big issue for the market. Even if borrowing remains high and the OBR publishes a slightly higher than expected forecast for next year, greater certainty around that number is better in the market’s eye than a very high level of uncertainty around a slightly lower borrowing figure.

I can only assume that Hunt has been horrified by what he’s seen since he walked through the door last week.

The real dynamite for Truss is the original set of forecasts produced by the OBR delivered to her at the start of her term. If those forecasts showed the need for a material fiscal tightening prior to the mini-Budget, which seems likely - and they still went ahead with unfounded tax cuts - then she really would have to resign, immediately. You could even look at misconduct charges. So we really need those forecasts to be leaked, and I wouldn’t be surprised if they do get leaked if she proves hard to remove.
 
It's a sad indictment of where we are as a nation that I am relieved Jeremy Hunt is now effectively the PM and he is the nearest thing we have to an adult in the room.

If they had a shred of dignity left they'd call an election immediately and get it over with.

Hunt and Starmer should really already be having back-channel conversations about a smooth handover in the best interests of the country.
 
mat said:

Austerity part 2 - Coming soon
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Mat
Spot on and inevitable. Cuts to funding, infrastructure projects, services, benefits etc. to come. I can’t find the article but a recent poster included a link to a piece that outlined how our country would become a mirror of Italy.
This is a great time for us to have torpedoed our ability to trade successfully overseas and keep whatever business we historically grew and encouraged to the UK.
Rather like Barca and Real Madrid clinging to the prospect of financial salvation via Euro Superleague my hope is that the current formative talks on a reformed Europe- post Ukraine- means that we can creep back into the fold. Without a radical increase in trade, taxes garnered from nationals from other countries and foreign investment etc. I think we’re royally fucked.
Buy a shotgun and dig a moat.
 
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