Fred_Quimby
Well-Known Member
Lock down earlier and save lives maybe? Or is ‘costing money’ more important?? By the way NZ dead 1500 (6m population) UK dead 230 000 (60m population). Not a good comparison is it really.
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General Election - 4th July 2024
- Thread starter Postman Pep
- Start date
TinFoilHat
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- Joined
- 26 Jan 2023
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- 21,913
- Team supported
- Manchester City
One of the sideshows after the election will be when does Braverman go full fascist?Tories moaning and trying their best to prevent a huge Labour landslide. Maybe should be looking in the mirror and see why they face this.
Hope they get obliterated tomorrow
The Cygnus Inquiry of 2016 informed the government that the NHS could not cope with a major health outbreak and made SPECIFIC recommendations related to PPE. The government buried it, for political reasons, and did not act on its findings. To say that other countries could not secure PPE at the time is a red-herring: we knew three years before but chose our path, later to award contracts to businesses linked to MPs.
Add it to the absolute catalogue of misery heaped upon our nation: the austerity, culled services, soaring violence, poverty, homelessness, national debt, shared classrooms and record waiting lists, much of it pre-pandemic, and their demise is MORE than warranted.
Add it to the absolute catalogue of misery heaped upon our nation: the austerity, culled services, soaring violence, poverty, homelessness, national debt, shared classrooms and record waiting lists, much of it pre-pandemic, and their demise is MORE than warranted.
Brewster's millions
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- 9 Apr 2012
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- 3,374
I'm afraid that's simply not true, and you're attributing all of the rise in UK interest rates over the past two years to Liz Truss, rather than the fundamental factors that have increased borrowing costs across all the major economies. It does however appear to be a widely shared view on this forum, so I think it's worth actually providing you with some data to hopefully demonstrate this to you.Most mortgages are fixed rate so as they expire, most mortgage holders will be impacted by the Truss budget. It's already affected 3.5 million mortgages - that's already half of those who were on fixed mortgages when Truss struck. By the end of this year, including those on variable or other not-fixed rates, most of all mortgage holders will have been impacted. More than a million people* facing higher rates by January 2025 may be one reason Sunak didn't want to wait - plus the "demographics" that their voter base is reducing daily and being replaced by people becoming 18.
* A million mortgages, so as most mortgages are held jointly, closer to 2 million voters. That 3.5 million mortgages already affected means around 6 million voters.
The Truss mini-Budget was a UK-specific event impacting UK government borrowing costs and so the only sensible approach is to see how the event impacted UK gilt yields against other comparable countries, in this case the US.
When Truss was appointed PM on 6 September 2022, the 5-year gilt yield in the UK was 0.51%-pt below that of the 5-year US Treasury (-51bp). On the day before the mini-budget the gap was -41bp, and on the day of the mini-budget itself (23rd September) that gap closed entirely (0bp). The gap reached a peak of +40bp on 10 October, Hunt took over as Chancellor on 14 October (the gap fell to -5bp), he reversed the mini-Budget on 17 October (-36bp) and after Truss resigned on 20 October the gap was back down to -64bp. During the remainder of 2022 the gap averaged -59bp.
That's a six week spike in UK yields relative to the US. I'm not trying to suggest that Liz Truss is anything other than barking mad, and this spike would have led to many mortgage offers being pulled around that time. But the idea that it is her mini-Budget that has impacted most mortgage holders in the UK, rather than the rise in rates seen in the US and Europe as well as the UK, is simply wrong.
Scottyboi
Well-Known Member
Hahaha they're starting to crumble and lash out now, can't wait for tomorrow. In your own words "if you don't like it why don't you leave?"
Blue Maverick
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- 6 Aug 2010
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- 20,146
I hope the Lib Dem’s are the opposition! Be funny seeing what’s left of the tories in a little corner. If Labour get this massive majority where do they all sit. They can’t all fit on one side can they in parliament?
mosssideblue
Well-Known Member
Even if the Tories are the opposition, there will be many new faces as this current lot won't accept being second best and will fuck off looking for another cash cowI hope the Lib Dem’s are the opposition! Be funny seeing what’s left of the tories in a little corner. If Labour get this massive majority where do they all sit. They can’t all fit on one side can they in parliament?
You had me at "I'm not trying to suggest that Liz Truss is anything other than barking mad".I'm afraid that's simply not true, and you're attributing all of the rise in UK interest rates over the past two years to Liz Truss, rather than the fundamental factors that have increased borrowing costs across all the major economies. It does however appear to be a widely shared view on this forum, so I think it's worth actually providing you with some data to hopefully demonstrate this to you.
The Truss mini-Budget was a UK-specific event impacting UK government borrowing costs and so the only sensible approach is to see how the event impacted UK gilt yields against other comparable countries, in this case the US.
When Truss was appointed PM on 6 September 2022, the 5-year gilt yield in the UK was 0.51%-pt below that of the 5-year US Treasury (-51bp). On the day before the mini-budget the gap was -41bp, and on the day of the mini-budget itself (23rd September) that gap closed entirely (0bp). The gap reached a peak of +40bp on 10 October, Hunt took over as Chancellor on 14 October (the gap fell to -5bp), he reversed the mini-Budget on 17 October (-36bp) and after Truss resigned on 20 October the gap was back down to -64bp. During the remainder of 2022 the gap averaged -59bp.
That's a six week spike in UK yields relative to the US. I'm not trying to suggest that Liz Truss is anything other than barking mad, and this spike would have led to many mortgage offers being pulled around that time. But the idea that it is her mini-Budget that has impacted most mortgage holders in the UK, rather than the rise in rates seen in the US and Europe as well as the UK, is simply wrong.
metalblue
Well-Known Member
That’s the increase in mortgage costs that include rate rises due to inflation etc not the impact of Truss. For sure we all paid a bit extra for 2-3 months whilst the truss nonsense worked through the system and that was entirely avoidable.
You had me at "the truss nonsense worked through the system and that was entirely avoidable".That’s the increase in mortgage costs that include rate rises due to inflation etc not the impact of Truss. For sure we all paid a bit extra for 2-3 months whilst the truss nonsense worked through the system and that was entirely avoidable.