The Conservative Party

dave_blue12 said:
The problem is that the significant tax cuts only effect those with very high incomes who are relatively small in number and plenty of which will simply stash their windfall away.

The more modest tax cuts awarded to the lower income tax payers who are larger in number and far more likely to spend any surplus will be more than eaten up by the increased bills everyone is facing..

Kwarteng's policy cannot therefore stimulate the economy.
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They need to actually do something that really helps the majority in society who are struggling. How about cutting tax altogether for anyone earning less than £20,000 a year in pay or pensions? I'm sure a couple of pence extra on the very rich could pay for it and they'd hardly notice it. The idea that this extra money those at the top are benefitted from will trickle down is ludicrous. Also making it more appealing for businesses to invest here again doesn't help those at the bottom. They'll just open more businesses paying minimum wages which helps nobody as there's an abundance of those jobs already out there.
 
paulchapo said:
They need to actually do something that really helps the majority in society who are struggling. How about cutting tax altogether for anyone earning less than £20,000 a year in pay or pensions? I'm sure a couple of pence extra on the very rich could pay for it and they'd hardly notice it. The idea that this extra money those at the top are benefitted from will trickle down is ludicrous. Also making it more appealing for businesses to invest here again doesn't help those at the bottom. They'll just open more businesses paying minimum wages which helps nobody as there's an abundance of those jobs already out there.
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Broadly I agree, and I have long argued - even on here - for a simpler tax system where no-one on less than about £20k should pay any tax at all. But I do not agree about the trickle down bit. More companies investing in the UK means more tax revenues, more employment and tax revenues from that, and if there are labour shortages, higher wages too. You cannot say that more inward investment into the UK would be anything other than a good thing.
 
Gabriel said:
It was quoted as a former minister, I think, but that hardly narrows the field. If things don’t settle this week, Conference week should be hilarious.
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The media from conference will be highly controlled. They've already banned "unfavorable" media companies from it and charging the rest for the privilege.
 
The pound plunged nearly 5% at one point to break beneath 1985 lows and hit $1.0327. Moves were exacerbated by thinner liquidity in the Asia session, but even after stumbling back to $1.05, the currency is still down some 7% in just two sessions. Options pricing implies a wild ride ahead.

"The market is now treating the UK as if it's an emerging market," said Rabobank strategist Michael Every in Singapore.

"And they're not wrong in terms of the policy response and the naivety of thinking that boosting demand rather than supply is how you deal with a supply side shock," he said.

In other news, @Chippy_boy said “just give it a chance and everything will be fine” and the markets are now becalmed……..
 
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