£1 buys $1.0827 through the Royal Mail at the moment.
Economically illiterate ideological dogma not instilling any confidence in the markets? Who would have thought?
Even A-levels econ students can tell you that these new measures would have inflationary effects. Which is compounded by extremely weak pound meaning all our energy imports are more expensive. For the average people, yes you pay like £200 less tax but everything gets more expensive way quicker lol. It’s fantasy economics designed to appeal to populist numbskulls.
but i was told the markets would respond favourably to kwarteng and truss’s bold plans
I feel no shame in the fact that I have voted Conservative in the past, been a proud floating voter. But now I just hope we get an early election so we can get rid of these idiots. Personally I think Sunak would have been a better choice for the country.
2 years of Tories stripping the copper from the walls before leaving Labour with an almighty mess to clear up.
Recently it’s felt like it’s time to leave this country.
We’ve reached the point now where they can’t even claim to be better economically than Corbyn. Laughable
After 12 years of failure, the Tory party now under the ‘leadership’ of a first yr undergraduate cosplaying Thatcher has unleased the combined might of the brightest and the best from the collective pool of leftover special need students of the ladybird book of Tory policy and mantra.
… Fixing the health service by putting a smoking obese coffin dodger in charge, the economy with a cackling manchild, keen on tax breaks for anyone earning as much as him. Oh, and must not forget letting loose a long streak of catholic piss disaster capitalist to spin that upisdown rightisleft and any second now we will reach the promised shitstained shores of those sunny uplands….. because God/Nanny WILLS IT!!!!.
The USD will be worth more than the pound soon lmfao
This will elicit zero growth – it’s purely ideological, it’s literally a race to the bottom.
Next up – slash workers rights, destroy the NHS and sell off the rubble, then to deal with those pesky Human Rights.
We’re all fucked.
At least we didn’t get a run on the pound the Tories said we’d get under labour.
Bear in mind the nosedive it took in 2016, this is a helluva low.
This is your ~~brain~~ currency on neo-thatcherism.
I think I would rather have had some of that “chaos with Ed Milliband” than this “Strong and Stable” leadership.
So having read the article I’ve seen that all too familiar phrase of “Simplifying the tax system.”
I have to ask, what exactly is the benefit to be had in simplifying the tax system? Shouldn’t it by its very nature of having different rules for different people, companies, industries etc, be quite complicated?
Edit
This was a bit of a rhetorical question. The only time I ever see the words “Simplify the tax system” is when I see someone attempting to justify a tax cut for wealthy people.
Saw a journalist on twitter noting the pound was even falling against bitcoin and the ruble.
“Growth plan” – it’s literally just trickle down economics that we know doesn’t work
I don’t understand how this budget is meant to help those with investments (eg their mates), cause the pound has taken a pounding, keeps going lower and compounded with the general down turn in the economy/stock market, investments are not doing well at all.
Are their mates just betting against the UK akin to those anti-pound bets the Brexiters made before the referendum?
Now, correct me if I’m wrong, but I believe that may be the opposite of growth.
Couldn’t they at least get a stock photo with a modern pound coin?
It’ll be fine, those super rich people will definitely trickle down some wealth.. /s
I read through the list of tax cuts and it’s utter, utter madness.
They’re hoping growth of 2.5% will pay for it but we weren’t hitting that before Brexit, Covid-19 and the war in Ukraine.
So how we’ll magically go from recession to 2.5% is … pure fantasy. The markets know it, and the lenders know it. Our borrowing is now more expensive than ever and that, too, has to come out of the budget.
What the actual fuck?!?!
The only thing this plan will grow is government debt. Add this to cost of Truss’s energy crisis plan, and to the already massive government debt that the Tories have run in the last 12 years, and you have a recipe for a fucked economy for years.
Buy your computer parts and accessories now before prices jump up.
Scorched earth strategy, labour likely to win the next one anyway, so why bother?
And if the tories still win after what they have done, why bother in the future even?
Trussonomics.. it’s like I asked my dog to imagine his worst economoc ideas and then destroy an economy with them.
Not surprising as there have been multiple financial people saying very publicly that this move is the exact opposite of what the UK economy actually needs and they pushed ahead with it regardless because truss and kwarteng had a O level class on economics in 1984 at the height of Reganomics and thats all they know about how economics works and sticking to it even though its been shown to not work for 40 years….
The utter idiots who voted this crew in should be sent to live on Rockall. This is nothing but a fire sale…wonder when we will need help from the IMF…then all this crap about taking back control will be put in perspective.
Just a bunch of Thundercunts taking as much as possible from the population. Aka, a tory government
Debt fuelled growth at a time of double digit inflation while every other bank is aggressively raising rates. I have never in my life, seen such idiotic and reckless policy. This has destroyed the value of the pound which will inflate our imports, especially energy even further. Far outweighing the benefit of a £200 tax cut.
So with one mornings work Trussenomics has added about 3% to inflation for anything imported.
Good job.
Look, I never thought I’d say this, right, but pull down the blinds – I’m closing the bureau.
For an hour.
These ideological mad men are going to destroy our country – they are a danger to each and every one of us common working, or searching for work folk
It’s like deliberate sabotage. Firstly destroy all foreign trade, start childish internal fighting a make up fiscal policy on fleeting whims to destroy confidence, then slash tax revenue on the basis of encouraging foreign investment?!
It’s Absurd. Are Boris and liz compromised by the Russian government?
They know they’re getting voted out in 2 years. Cash grab for their donor mates
What’s crazy is that Kwarteng has a PhD in economic history from Cambridge. He seems to be a zealot for this neoliberal stuff. A real true believer.
Growth plan?
It’s a “get rich quick” scheme for his mates!
Tory MP on Radio 4 got lost for words, started to break down when the interviewer pointed out that the rich will get richer from this budget and the poor will not benefit at all! He had no comeback!
I remember being younger and it was €1 for 70 pence. Remember going on all arcades on holidays thinking there so cheap 🤣.
A large part of the UK workforce is made of economic migrants. If the pound continues to devalue they will seek alternate markets.
Brexiteers will be very happy with this outcome. However it will increase costs for the consumer in the long term as businesses must now compete for even less labour.
39 comments
£1 buys $1.0827 through the Royal Mail at the moment.
Economically illiterate ideological dogma not instilling any confidence in the markets? Who would have thought?
Even A-levels econ students can tell you that these new measures would have inflationary effects. Which is compounded by extremely weak pound meaning all our energy imports are more expensive. For the average people, yes you pay like £200 less tax but everything gets more expensive way quicker lol. It’s fantasy economics designed to appeal to populist numbskulls.
but i was told the markets would respond favourably to kwarteng and truss’s bold plans
I feel no shame in the fact that I have voted Conservative in the past, been a proud floating voter. But now I just hope we get an early election so we can get rid of these idiots. Personally I think Sunak would have been a better choice for the country.
2 years of Tories stripping the copper from the walls before leaving Labour with an almighty mess to clear up.
Recently it’s felt like it’s time to leave this country.
We’ve reached the point now where they can’t even claim to be better economically than Corbyn. Laughable
After 12 years of failure, the Tory party now under the ‘leadership’ of a first yr undergraduate cosplaying Thatcher has unleased the combined might of the brightest and the best from the collective pool of leftover special need students of the ladybird book of Tory policy and mantra.
… Fixing the health service by putting a smoking obese coffin dodger in charge, the economy with a cackling manchild, keen on tax breaks for anyone earning as much as him. Oh, and must not forget letting loose a long streak of catholic piss disaster capitalist to spin that upisdown rightisleft and any second now we will reach the promised shitstained shores of those sunny uplands….. because God/Nanny WILLS IT!!!!.
The USD will be worth more than the pound soon lmfao
This will elicit zero growth – it’s purely ideological, it’s literally a race to the bottom.
Next up – slash workers rights, destroy the NHS and sell off the rubble, then to deal with those pesky Human Rights.
We’re all fucked.
At least we didn’t get a run on the pound the Tories said we’d get under labour.
Bear in mind the nosedive it took in 2016, this is a helluva low.
This is your ~~brain~~ currency on neo-thatcherism.
I think I would rather have had some of that “chaos with Ed Milliband” than this “Strong and Stable” leadership.
So having read the article I’ve seen that all too familiar phrase of “Simplifying the tax system.”
I have to ask, what exactly is the benefit to be had in simplifying the tax system? Shouldn’t it by its very nature of having different rules for different people, companies, industries etc, be quite complicated?
Edit
This was a bit of a rhetorical question. The only time I ever see the words “Simplify the tax system” is when I see someone attempting to justify a tax cut for wealthy people.
Saw a journalist on twitter noting the pound was even falling against bitcoin and the ruble.
“Growth plan” – it’s literally just trickle down economics that we know doesn’t work
I don’t understand how this budget is meant to help those with investments (eg their mates), cause the pound has taken a pounding, keeps going lower and compounded with the general down turn in the economy/stock market, investments are not doing well at all.
Are their mates just betting against the UK akin to those anti-pound bets the Brexiters made before the referendum?
Now, correct me if I’m wrong, but I believe that may be the opposite of growth.
Couldn’t they at least get a stock photo with a modern pound coin?
It’ll be fine, those super rich people will definitely trickle down some wealth.. /s
I read through the list of tax cuts and it’s utter, utter madness.
They’re hoping growth of 2.5% will pay for it but we weren’t hitting that before Brexit, Covid-19 and the war in Ukraine.
So how we’ll magically go from recession to 2.5% is … pure fantasy. The markets know it, and the lenders know it. Our borrowing is now more expensive than ever and that, too, has to come out of the budget.
What the actual fuck?!?!
The only thing this plan will grow is government debt. Add this to cost of Truss’s energy crisis plan, and to the already massive government debt that the Tories have run in the last 12 years, and you have a recipe for a fucked economy for years.
Buy your computer parts and accessories now before prices jump up.
Scorched earth strategy, labour likely to win the next one anyway, so why bother?
And if the tories still win after what they have done, why bother in the future even?
Trussonomics.. it’s like I asked my dog to imagine his worst economoc ideas and then destroy an economy with them.
Not surprising as there have been multiple financial people saying very publicly that this move is the exact opposite of what the UK economy actually needs and they pushed ahead with it regardless because truss and kwarteng had a O level class on economics in 1984 at the height of Reganomics and thats all they know about how economics works and sticking to it even though its been shown to not work for 40 years….
The utter idiots who voted this crew in should be sent to live on Rockall. This is nothing but a fire sale…wonder when we will need help from the IMF…then all this crap about taking back control will be put in perspective.
Just a bunch of Thundercunts taking as much as possible from the population. Aka, a tory government
Debt fuelled growth at a time of double digit inflation while every other bank is aggressively raising rates. I have never in my life, seen such idiotic and reckless policy. This has destroyed the value of the pound which will inflate our imports, especially energy even further. Far outweighing the benefit of a £200 tax cut.
So with one mornings work Trussenomics has added about 3% to inflation for anything imported.
Good job.
Look, I never thought I’d say this, right, but pull down the blinds – I’m closing the bureau.
For an hour.
These ideological mad men are going to destroy our country – they are a danger to each and every one of us common working, or searching for work folk
It’s like deliberate sabotage. Firstly destroy all foreign trade, start childish internal fighting a make up fiscal policy on fleeting whims to destroy confidence, then slash tax revenue on the basis of encouraging foreign investment?!
It’s Absurd. Are Boris and liz compromised by the Russian government?
They know they’re getting voted out in 2 years. Cash grab for their donor mates
What’s crazy is that Kwarteng has a PhD in economic history from Cambridge. He seems to be a zealot for this neoliberal stuff. A real true believer.
Growth plan?
It’s a “get rich quick” scheme for his mates!
Tory MP on Radio 4 got lost for words, started to break down when the interviewer pointed out that the rich will get richer from this budget and the poor will not benefit at all! He had no comeback!
I remember being younger and it was €1 for 70 pence. Remember going on all arcades on holidays thinking there so cheap 🤣.
A large part of the UK workforce is made of economic migrants. If the pound continues to devalue they will seek alternate markets.
Brexiteers will be very happy with this outcome. However it will increase costs for the consumer in the long term as businesses must now compete for even less labour.