Staggering? I’ll say it Martin; it’s a national fucking disgrace.
Not shocking though. He is more than intelligent enough to know this is the sort of budget the Tories would want to rush out before another recess, to avoid minimal scrutiny and backlash. It is only staggering that they went so far to help the rich and do so little for the poor.
It’s a hail Mary, I can’t see it being anything else.
It either works in the short-term and they’ve bribed enough natural Tory voters to sneak back in or they’ve fucked the country.
If they fuck the country, they get booted out and Labour have to pick up the pieces. All the while, those same fucks who put the country in this position are sniping from the sidelines.
£72 billion more borrowing for tax cuts for the rich. I can only imagine they’re trying to fuck the country over so hard that the inevitable next labour government’s hands are so tied by debt that they can’t do anything anyway. The most malicious thing I’ve ever seen a government do in this country.
They know they’ll lose an election anyway so they do as damage as possible to set labour up to fail and then blame the whole mess on them anyway
The problem with trickle down economics is that we can’t trust people to do the right thing. It’s all very well saying that this will cause buisness investment but in reality the rich will get ever richer at the expense of the workers. The rich are hoarding wealth as we have seen in the past decade. Why would they invest when they can rinse people instead. It just doesn’t make sense for people who own businesses to invest and “create jobs”. Rich people don’t create jobs, demand creates jobs and if people can’t afford to buy there will be no demand and no jobs.
Staggeringly stupid…
2 more years of this. GBP below USD and 20% inflation.
Staggeringly stupid.
I (oddly) didn’t expect the tories to actually live up to what everyone says about the tories. It’s mental.
Why aren’t we in the streets banging on parliment and No.10? I’m in Canada for now, but I’ve been watching in horror for the past 4 years. Why aren’t we doing something?
Welp, it genuinely looks like it’s time to buy gold
The mini-budget is a farce that is like pouring petrol on the inflation inferno. Although we are talking UK here, the impending global crash has been in the works for a long time (you could argue since the last major one in 2008)
To varying degrees due to:
– funds and prime brokers being overleveraged (unbelievable amounts of derivative investments rather than buying/selling of underlying assets (stocks))
– loose monetary policy (and low interest rates)
– insane amounts of quantitative easing (printing money)
– a lot of overvalued stocks especially in tech (like the dot-com bubble and subsequent crash)
– risky loans being dished out to businesses using future revenue as collateral (a la subprime mortgages in 2008)
– interest rates creeping up – investors are derisking
– collapse of foreign markets like Chinese housing market of which SHITLOADS of US institutions hold bonds.
– supply chain issues from covid
– Ukraine war
– a lot of turning-a-blind-eye and can-kicking
I honestly don’t see how they’re gonna sweep all this under the rug. News like the mini-budget is just enough to get the downward movement rolling though
Growing the economy is pointless if everything is still on fire once it grows 0.1%
Arrgghhhhhhhhh
>Mr Kwarteng said it was the “biggest fantasy I have ever heard” to suggest Labour believes in wealth creation.
>“You cannot grow the economy if you see business as the enemy,” he said.
>He added: “We’ve got to unshackle the creative energies of this country and that’s what we’re 100% focused on doing.”
“Creative enrgies” will be focussed on creating offshore structures to hide the loot.
Why don’t they try cutting the VAT, that will result in people buying more products which would grow the economy. There is more than enough capital available.
Once again, this hugely benefits London, and an insanely small number of the population, and yet has the biggest impact on the poor nationwide.
Remember guys the tories have been in 12 years they and their voters will still find a way to say this is labours fault.
I mean you k ow somethings up with their core party supporters when the daily fail folks are even say this is crazy and get them out.
Those higher earners who are being unleashed to herald in an era of unprecedented growth… I hope you realise you have to step up. You can’t just pocket the cash but have to work your arses off to deliver. For your own sake.
Because if you fail and we slip backwards you will never see lower taxes again for as as long as you live.
Trouble is the second you try to introduce facts or rationale into a conversation you’ve already lost. Nothing will convince people otherwise
It is a common mistake to think rich people hate the poor. They simply don’t think about them. Some do good works like Bill Gates. Unfairness is ugly but part of life.(rabbit Vs eagle) but we, as a society, don’t help poor countries enough. We should help dirt poor people but moan that we cant afford two cars.
Oh good, can’t wait for more smear “stories” about him to appear in the sun and the mail. How dare he have an opinion, he’s got money don’t you know?
So glad that ultra rich get a discount on buying another property to rent out
It’s a shame he has to hold his tongue being a public figure, i imagine he has far harsher words in mind.
And he is not wrong. We have a cost-of-living crisis, public services are failing, and we give money to the rich? How is that going to help?
There was a daily mail article today praising it. I checked the comments and even the daily mail commenters think this mini budget is bad, and majority of the comments say it’s just for the rich.
So someone on £200k is £5k better of, someone on £20k is £200 better of…the divide has just grown more wtf
I wish Martin Lewis, and others like him, would actually run for election. If we had more people knowledgeable about society and the economy, but not attracted to power, holding that power, maybe we wouldn’t be in such an absolute mess.
Will it make any difference at all to anything though? I was under the impression than people with an income over £150,000 have already opted out of this whole “paying tax” nonsense anyway.
The new budget is daylight robbery, the rich are bleeding everyone else dry
Congratulations if you’re in the top 1% of earners. If you earn a million pounds a year you are now £54,400 better off.
Don’t worry if you earn around £25k, you’ll be around a massive £280 better off.
Whats the spread on the next vote of no confidence?
30 comments
Staggering? I’ll say it Martin; it’s a national fucking disgrace.
Not shocking though. He is more than intelligent enough to know this is the sort of budget the Tories would want to rush out before another recess, to avoid minimal scrutiny and backlash. It is only staggering that they went so far to help the rich and do so little for the poor.
It’s a hail Mary, I can’t see it being anything else.
It either works in the short-term and they’ve bribed enough natural Tory voters to sneak back in or they’ve fucked the country.
If they fuck the country, they get booted out and Labour have to pick up the pieces. All the while, those same fucks who put the country in this position are sniping from the sidelines.
£72 billion more borrowing for tax cuts for the rich. I can only imagine they’re trying to fuck the country over so hard that the inevitable next labour government’s hands are so tied by debt that they can’t do anything anyway. The most malicious thing I’ve ever seen a government do in this country.
They know they’ll lose an election anyway so they do as damage as possible to set labour up to fail and then blame the whole mess on them anyway
The problem with trickle down economics is that we can’t trust people to do the right thing. It’s all very well saying that this will cause buisness investment but in reality the rich will get ever richer at the expense of the workers. The rich are hoarding wealth as we have seen in the past decade. Why would they invest when they can rinse people instead. It just doesn’t make sense for people who own businesses to invest and “create jobs”. Rich people don’t create jobs, demand creates jobs and if people can’t afford to buy there will be no demand and no jobs.
Staggeringly stupid…
2 more years of this. GBP below USD and 20% inflation.
Staggeringly stupid.
I (oddly) didn’t expect the tories to actually live up to what everyone says about the tories. It’s mental.
Why aren’t we in the streets banging on parliment and No.10? I’m in Canada for now, but I’ve been watching in horror for the past 4 years. Why aren’t we doing something?
Welp, it genuinely looks like it’s time to buy gold
The mini-budget is a farce that is like pouring petrol on the inflation inferno. Although we are talking UK here, the impending global crash has been in the works for a long time (you could argue since the last major one in 2008)
To varying degrees due to:
– funds and prime brokers being overleveraged (unbelievable amounts of derivative investments rather than buying/selling of underlying assets (stocks))
– loose monetary policy (and low interest rates)
– insane amounts of quantitative easing (printing money)
– a lot of overvalued stocks especially in tech (like the dot-com bubble and subsequent crash)
– risky loans being dished out to businesses using future revenue as collateral (a la subprime mortgages in 2008)
– interest rates creeping up – investors are derisking
– collapse of foreign markets like Chinese housing market of which SHITLOADS of US institutions hold bonds.
– supply chain issues from covid
– Ukraine war
– a lot of turning-a-blind-eye and can-kicking
I honestly don’t see how they’re gonna sweep all this under the rug. News like the mini-budget is just enough to get the downward movement rolling though
Growing the economy is pointless if everything is still on fire once it grows 0.1%
Arrgghhhhhhhhh
>Mr Kwarteng said it was the “biggest fantasy I have ever heard” to suggest Labour believes in wealth creation.
>“You cannot grow the economy if you see business as the enemy,” he said.
>He added: “We’ve got to unshackle the creative energies of this country and that’s what we’re 100% focused on doing.”
“Creative enrgies” will be focussed on creating offshore structures to hide the loot.
Why don’t they try cutting the VAT, that will result in people buying more products which would grow the economy. There is more than enough capital available.
Once again, this hugely benefits London, and an insanely small number of the population, and yet has the biggest impact on the poor nationwide.
https://www.wsws.org/en/articles/2019/04/17/ineq-a17.html
Remember guys the tories have been in 12 years they and their voters will still find a way to say this is labours fault.
I mean you k ow somethings up with their core party supporters when the daily fail folks are even say this is crazy and get them out.
Those higher earners who are being unleashed to herald in an era of unprecedented growth… I hope you realise you have to step up. You can’t just pocket the cash but have to work your arses off to deliver. For your own sake.
Because if you fail and we slip backwards you will never see lower taxes again for as as long as you live.
Trouble is the second you try to introduce facts or rationale into a conversation you’ve already lost. Nothing will convince people otherwise
It is a common mistake to think rich people hate the poor. They simply don’t think about them. Some do good works like Bill Gates. Unfairness is ugly but part of life.(rabbit Vs eagle) but we, as a society, don’t help poor countries enough. We should help dirt poor people but moan that we cant afford two cars.
Oh good, can’t wait for more smear “stories” about him to appear in the sun and the mail. How dare he have an opinion, he’s got money don’t you know?
So glad that ultra rich get a discount on buying another property to rent out
It’s a shame he has to hold his tongue being a public figure, i imagine he has far harsher words in mind.
And he is not wrong. We have a cost-of-living crisis, public services are failing, and we give money to the rich? How is that going to help?
There was a daily mail article today praising it. I checked the comments and even the daily mail commenters think this mini budget is bad, and majority of the comments say it’s just for the rich.
So someone on £200k is £5k better of, someone on £20k is £200 better of…the divide has just grown more wtf
I wish Martin Lewis, and others like him, would actually run for election. If we had more people knowledgeable about society and the economy, but not attracted to power, holding that power, maybe we wouldn’t be in such an absolute mess.
Will it make any difference at all to anything though? I was under the impression than people with an income over £150,000 have already opted out of this whole “paying tax” nonsense anyway.
The new budget is daylight robbery, the rich are bleeding everyone else dry
Congratulations if you’re in the top 1% of earners. If you earn a million pounds a year you are now £54,400 better off.
Don’t worry if you earn around £25k, you’ll be around a massive £280 better off.
Whats the spread on the next vote of no confidence?