The Labour Government

[Ifwecouldjust.......]

Wasn't the internet bill a Tory one passed in their last parliament?

It was initiated by the Tories but passed whilst the current Labour Party were in charge.

 

[hampshireblue]

Might that be Chris Grayling who gave a £13m contract for a ferry service to a firm with no ships?

It wasn't actually. My point is that rearely does any secretary of state have any real inside knowledge of the vast part of the portfolio over which they are responsible. They are heavily reliant on advisers, regulators and the civil service.

 

[BlueHammer85]

It was initiated by the Tories but passed whilst the current Labour Party were in charge.

Funny how there wasn’t a massive uproar when it was initiated by the Tories.

 

[hampshireblue]

Does anyone have an insight into the latest blunder?

It is being reported that the Chagos Island deal that we were told would cost us £3.4bn whereas in fact the real figure is £34.7....

What will this do to Rachel from accounts black hole? Will it go from the £20bn she inherited to £50bn that she created to now be £80bn? Surely not.

You must have heard/read the story from somewhere. How about you researching the background and filling us all in. Long term government accountancy rules may be a good start for you.

 

[Ifwecouldjust.......]

Funny how there wasn’t a massive uproar when it was initiated by the Tories.

No change there then

 

[Brewster's millions]

Three more business surveys released this morning, all showing business confidence / hiring intentions to be on its arse, thanks in large part to this government’s tax rises.

This of course follows last week’s MPC meeting where the Committee increasingly linked inflationary pressures to the ENIC hike.

The more notable element in today’s surveys however was how businesses are again linking weak activity levels to concerns around the additional tax rises awaiting in the Budget, a trend which clearly threatens to develop its own momentum as the public finances deteriorate further.

The impact of the ENIC appears to have been weaker employment growth if not outright job cuts, weaker GDP growth, higher borrowing costs via higher RPI and higher borrowing costs via the APF, due to growing MPC concerns around the inflationary impact of the tax hike.

Has the ENIC hike really improved the public finances? I think the evidence is suggesting otherwise.

 

[Ifwecouldjust.......]

The more notable element in today’s surveys however was how businesses are again linking weak activity levels to concerns around the additional tax rises awaiting in the Budget, a trend which clearly threatens to develop its own momentum as the public finances deteriorate further.

Which have mainly been espoused by the right wing press

 

[domalino]

Does anyone have an insight into the latest blunder?

It is being reported that the Chagos Island deal that we were told would cost us £3.4bn whereas in fact the real figure is £34.7....

What will this do to Rachel from accounts black hole? Will it go from the £20bn she inherited to £50bn that she created to now be £80bn? Surely not.

It will cost 34.7 if you jump ahead 150 years and assume inflation is 2% that whole time.

The actual cost in 2025 money is £3.4Bn.

 

[hampshireblue]

It will cost 34.7 if you jump ahead 150 years and assume inflation is 2% that whole time.

The actual cost in 2025 money is £3.4Bn.

Don't tell him PIke!

 

[The Light Was Yellow Sir]

Does anyone have an insight into the latest blunder?

It is being reported that the Chagos Island deal that we were told would cost us £3.4bn whereas in fact the real figure is £34.7....

What will this do to Rachel from accounts black hole? Will it go from the £20bn she inherited to £50bn that she created to now be £80bn? Surely not.

"While the government has insisted the 'net value' of the deal will be £3.4 billion, because of the impact of inflation, in cash terms, some estimates have put it at as much as £30 billion over 99 years, assuming 2% inflation." The Week https://theweek.com/politics/the-chagos-agreement-explained

I read that in June, so you need to find a more up to date news channel or, maybe, they’re just recycling stories to kick the government over the summer?

 

[bluethrunthru]

Three more business surveys released this morning, all showing business confidence / hiring intentions to be on its arse, thanks in large part to this government’s tax rises.

This of course follows last week’s MPC meeting where the Committee increasingly linked inflationary pressures to the ENIC hike.

The more notable element in today’s surveys however was how businesses are again linking weak activity levels to concerns around the additional tax rises awaiting in the Budget, a trend which clearly threatens to develop its own momentum as the public finances deteriorate further.

The impact of the ENIC appears to have been weaker employment growth if not outright job cuts, weaker GDP growth, higher borrowing costs via higher RPI and higher borrowing costs via the APF, due to growing MPC concerns around the inflationary impact of the tax hike.

Has the ENIC hike really improved the public finances? I think the evidence is suggesting otherwise.

reflects nothing other than 3 businesses ( you haven't named ) there are loads of these surveys released all the time and the fluctuations are predictable. I assume it depends who you ask, who responds and some political bias in the whole process - this is 3 reports from the last month that agree to disagree

UK Business Confidence Monitor: National

The latest national Business Confidence Monitor (BCM) for Q2 2025 shows that business confidence fell further into negative territory, reflecting ongoing concerns about the tax burden and slower expected domestic and exports sales growth.

www.icaew.com

IoD press release: Economic confidence plummets to all time low

Read about IoD press release: Economic confidence plummets to all time low. Get more of the latest business news articles from the Institute of Directors.

www.iod.com

UK business confidence hits decade high as optimism grows - Asset Finance Connect

UK business confidence has reached its highest level since 2015, rising one point to 52% in July, according to the latest Lloyds Bank Business Barometer. This marks the third consecutive monthly increase, fuelled by improving trading prospects and growing economic optimism. The latest data...

assetfinanceconnect.com

 

[bluenova]

"While the government has insisted the 'net value' of the deal will be £3.4 billion, because of the impact of inflation, in cash terms, some estimates have put it at as much as £30 billion over 99 years, assuming 2% inflation." The Week https://theweek.com/politics/the-chagos-agreement-explained

I read that in June, so you need to find a more up to date news channel or, maybe, they’re just recycling stories to kick the government over the summer?

I think the Telegraph are reporting it as if it's real new news, because the overall 99 year figure has appeared somewhere in a Govt report.

It's the same details that were reported at the time.

 

[The Light Was Yellow Sir]

I think the Telegraph are reporting it as if it's real new news, because the overall 99 year figure has appeared somewhere in a Govt report.

It's the same details that were reported at the time.

I suppose the Telegraph, the Mail and the Evening Standard, might be 2 months behind the news cycle!!

 

[The Future’s Blue!]

It will cost 34.7 if you jump ahead 150 years and assume inflation is 2% that whole time.

The actual cost in 2025 money is £3.4Bn.

Only heard a quick brief on this from Sky News and took it no further. Is that the actual sums, £3.4 Bn in today’s money, and somebody has gone out of their way to look at the cost in 150 years?

If true, that is scraping the barrel for whoever came up with it, and even worse for those that followed the narrative.

Nearly as bad as ‘Starmer gives aid £6 mil of UK money’.

 

[stonerblue]

Only heard a quick brief on this from Sky News and took it no further. Is that the actual sums, £3.4 Bn in today’s money, and somebody has gone out of their way to look at the cost in 150 years?

If true, that is scraping the barrel for whoever came up with it, and even worse for those that followed the narrative.

Nearly as bad as ‘Starmer gives aid £6 mil of UK money’.

Was it the scums accounting department?

 

[hampshireblue]

"While the government has insisted the 'net value' of the deal will be £3.4 billion, because of the impact of inflation, in cash terms, some estimates have put it at as much as £30 billion over 99 years, assuming 2% inflation." The Week https://theweek.com/politics/the-chagos-agreement-explained

I read that in June, so you need to find a more up to date news channel or, maybe, they’re just recycling stories to kick the government over the summer?

I think it's the figure Farage was spouting a few days ago, so Joe will have been hanging on his every word.

 

[The Light Was Yellow Sir]

Only heard a quick brief on this from Sky News and took it no further. Is that the actual sums, £3.4 Bn in today’s money, and somebody has gone out of their way to look at the cost in 150 years?

If true, that is scraping the barrel for whoever came up with it, and even worse for those that followed the narrative.

Nearly as bad as ‘Starmer gives aid £6 mil of UK money’.

Wait till they work out that, someone born today and living to 80, will see the UK spending more than the current national debt, just on the NHS…

 

[The Future’s Blue!]

I think it's the figure Farage was spouting a few days ago, so Joe will have been hanging on his every word.

This stuff is becoming really easy. Say what you want and people believe it.

For a fact, Farage has stated that he will get rid of universal healthcare, scrap pensions, allow perverts, paedos and weirdos to continue abusing the young on social media, and all other kinds of stuff that does not benefit our old and young alike. I know this to be true, can anybody who thinks like I do please pass this onto others, especially those who believe otherwise.

As for Badenoch …

 

[The Future’s Blue!]

Wait till they work out that, someone born today and living to 80, will see the UK spending more than the current national debt, just on the NHS…

I really am gobsmacked at the idiocy of it all.

 

[Hgblue2]

Three more business surveys released this morning, all showing business confidence / hiring intentions to be on its arse, thanks in large part to this government’s tax rises.

This of course follows last week’s MPC meeting where the Committee increasingly linked inflationary pressures to the ENIC hike.

The more notable element in today’s surveys however was how businesses are again linking weak activity levels to concerns around the additional tax rises awaiting in the Budget, a trend which clearly threatens to develop its own momentum as the public finances deteriorate further.

The impact of the ENIC appears to have been weaker employment growth if not outright job cuts, weaker GDP growth, higher borrowing costs via higher RPI and higher borrowing costs via the APF, due to growing MPC concerns around the inflationary impact of the tax hike.

Has the ENIC hike really improved the public finances? I think the evidence is suggesting otherwise.

Somebody in government needs a crash course on the Laffer curve. We are already past the sweet spot so any additional taxes actually reduce revenue due to the negative effect on economic activity.

What the government should be doing is reducing taxes in a smart way to stimulate growth in the economy, this is what Truss got right.

However, this needs to be preceded by serious action to reduce government spending to appease the bond markets, this is what Truss got wrong.

Reeves can't reduce government spending, so can't reduce taxes, so the economy is going to continue to struggle. Flagging economy equals rising debt, so we're stuck in a debt doom loop.

I actually feel sorry for the woman at this point.