It’s pretty amazing that Putin, Ukraine, Brexit and Covid were all fixed this weekend.
A small part of me thinks this was the plan all along. Huge gains to be made from the slump and then rise in the pound. People now happy to accept the other measures announced as the ‘big’ one has been reverted. Hopefully it will mean Truss stays in power until the next election, because there currently there is still no chance for her.
This is going to upset all the people in this sub who were please with the tax cuts.
Looking forward to my downvotes and reading all their butt hurt comments later
Edit. Lmao, at all the angry people in my DMs. I pitty you
Like they were caught trying to burgle a house and put the flatscreen back
Bunch of jokers…such a major screw up should be followed by resignations
They went so far right the slightly less right pulled them back in. Madness.
It’s like a mugger taking your wallet, but returning your cards and ID.
Yeah, right, cheers mate. But you’ve still mugged me.
Window dressing – given the muted comments over its withdrawal, I have to wonder if this was a “sacrificial policy” – never intended to be implemented, but its removal should remove a lot of scrutiny of the other areas – similar to the way that directors of action film put some hideously over the top gore into the movie which they can then cut to satisfy the censors, leaving just your run of the mill murders behind.
Definitely worth the 65bn it cost to prop up the pound.
Next time you start a new job remember this: you aren’t as shit as Liz Truss
So much damage had already been done. Simply reversing this change doesn’t address all the harm it’s caused.
The poke them in the eye and stamp on their feet method of policy delivery.
Politician: I’m going to poke you in the eye and stamp on your foot.
People: please don’t do that.
Politician: ok, we are cancelling the foot stamping policy.
People: Hooray, we won!
I’m sure Reddit is too sophisticated to fall for it, but plenty of people out there will think this makes it all ok again.
Because it was a distraction Kwasi claims, not because it was disgraceful.
U-turn or not they thought they’d get away with it. If the Conservative party had even a sliver of decency they would be triggering a vote of no confidence.
“It is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our country.”
So there is the “overriding mission of tackling the challenges facing our country” which the 45p tax cut wasn’t part of, they admit the “trickling down” they kept babbling about for 10 days was bullshit.
Looking forward to the statement.
“Thats all sorted then. You idiots who vote for us get those polls back up to 35%ish because with our fiddling with constituency boundaries over the last 12 years we are the only party who can win an election on 35%.
Oh and forget the huge amounts us and our mates made on the market movements that we caused.
Oh and… Look, look! Over there, Ukraine is happening!”
Interesting that the reasoning given was that this measure was “a distraction” from the other stuff they’ve done (reversing rise in NI, 1p cut in basic tax rate).
Not that this was the wrong thing to do. Not that they have abandoned it completely. Just that right now it’s “a distraction”.
That says to me that they are still planning on introducing this tax cut for people who clearly don’t need it. Just not right now.
Shameful.
Interesting that this was apparantly the only way to save the British economy and that’s why they had to do it but are now u turning on it, no?
Fucking HELL what a shambles.
She won’t last until Christmas.
[removed]
They were scared they’d lose on a finance vote, with multiple MPs on the Tory benches signalling they’d vote against it despite being threatened with the whip.
All the rest of this awful mini-budget remains intact. The 45p rate abolition provided terrible optics but wouldn’t have had a huge financial impact anyway.
Well the marching orders are certainly out. Sky News are firmly angling to blame the initial idea on Chief Secretary to the Treasury, Chris Philp. Guess he must have been picked to be the fall guy to take some of the heat off Truss and Kwarteng.
[deleted]
Meanwhile the damage to pensions, the rate at which the government borrows money, the rate you pay for a mortgage and the value of the currency are all still in place. Those were the real problem.
Don’t let them off the hook. They crashed the financial system which (like it or not) our country relies upon. Just saying “whoops” and cancelling one policy does very little.
“We get it”
No, no you fucking don’t you unelected troll of a man
Fine. Cancel it. It really doesn’t matter now. What matters is how we, as a nation, a government, a G7 member, re-assemble any kind of international credibility after this utter descent into clown-car economics.
If the rest of the G7 have one brain cell between them, they will see that the crooks and gangsters have got control of the economy in this country and they are willing to sell the family heirlooms so they can get theirs and fuck everybody else. You do wonder how far any rebound in Sterling is likely to continue if the government continues to act in self-interest and not in the best interests of the country and it’s people.
Not because _the people_ were upset, heaven’s no. Because _other Tory MPs_ were upset. Sure…
What’s with these weird ways of presenting financial plans. Why 45p and not 45%? Why are we looking at average household price caps of £2500 instead of just saying the percentage increase per KWH.
Sixty five billion pounds.
Who else on the planet could make a mistake costing that much money and still be in a job with a simple ‘we got it wrong’ attempt at an apology.
They are an absolute disgrace.
So Poundland Thatcher and Kamikwasi just caused a £65B hole into the economy and get to keep their jobs?
#bananarepublic
Gotta give the guy some credit… As far as CVs go, I can’t say I know anyone who has done as much as he has in such a short time in a position: The country’s credit rating outlook has been reduced, they decimated the pound, our pension funds were on the brink, mortgage rates are ruined, the housing market could crash, ignored the IMF… Have I forgotten anything?
29 comments
It’s pretty amazing that Putin, Ukraine, Brexit and Covid were all fixed this weekend.
A small part of me thinks this was the plan all along. Huge gains to be made from the slump and then rise in the pound. People now happy to accept the other measures announced as the ‘big’ one has been reverted. Hopefully it will mean Truss stays in power until the next election, because there currently there is still no chance for her.
This is going to upset all the people in this sub who were please with the tax cuts.
Looking forward to my downvotes and reading all their butt hurt comments later
Edit. Lmao, at all the angry people in my DMs. I pitty you
Like they were caught trying to burgle a house and put the flatscreen back
Bunch of jokers…such a major screw up should be followed by resignations
They went so far right the slightly less right pulled them back in. Madness.
It’s like a mugger taking your wallet, but returning your cards and ID.
Yeah, right, cheers mate. But you’ve still mugged me.
Window dressing – given the muted comments over its withdrawal, I have to wonder if this was a “sacrificial policy” – never intended to be implemented, but its removal should remove a lot of scrutiny of the other areas – similar to the way that directors of action film put some hideously over the top gore into the movie which they can then cut to satisfy the censors, leaving just your run of the mill murders behind.
Definitely worth the 65bn it cost to prop up the pound.
Next time you start a new job remember this: you aren’t as shit as Liz Truss
So much damage had already been done. Simply reversing this change doesn’t address all the harm it’s caused.
The poke them in the eye and stamp on their feet method of policy delivery.
Politician: I’m going to poke you in the eye and stamp on your foot.
People: please don’t do that.
Politician: ok, we are cancelling the foot stamping policy.
People: Hooray, we won!
I’m sure Reddit is too sophisticated to fall for it, but plenty of people out there will think this makes it all ok again.
Because it was a distraction Kwasi claims, not because it was disgraceful.
U-turn or not they thought they’d get away with it. If the Conservative party had even a sliver of decency they would be triggering a vote of no confidence.
“It is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our country.”
So there is the “overriding mission of tackling the challenges facing our country” which the 45p tax cut wasn’t part of, they admit the “trickling down” they kept babbling about for 10 days was bullshit.
Looking forward to the statement.
“Thats all sorted then. You idiots who vote for us get those polls back up to 35%ish because with our fiddling with constituency boundaries over the last 12 years we are the only party who can win an election on 35%.
Oh and forget the huge amounts us and our mates made on the market movements that we caused.
Oh and… Look, look! Over there, Ukraine is happening!”
Interesting that the reasoning given was that this measure was “a distraction” from the other stuff they’ve done (reversing rise in NI, 1p cut in basic tax rate).
Not that this was the wrong thing to do. Not that they have abandoned it completely. Just that right now it’s “a distraction”.
That says to me that they are still planning on introducing this tax cut for people who clearly don’t need it. Just not right now.
Shameful.
Interesting that this was apparantly the only way to save the British economy and that’s why they had to do it but are now u turning on it, no?
Fucking HELL what a shambles.
She won’t last until Christmas.
[removed]
They were scared they’d lose on a finance vote, with multiple MPs on the Tory benches signalling they’d vote against it despite being threatened with the whip.
All the rest of this awful mini-budget remains intact. The 45p rate abolition provided terrible optics but wouldn’t have had a huge financial impact anyway.
Well the marching orders are certainly out. Sky News are firmly angling to blame the initial idea on Chief Secretary to the Treasury, Chris Philp. Guess he must have been picked to be the fall guy to take some of the heat off Truss and Kwarteng.
[deleted]
Meanwhile the damage to pensions, the rate at which the government borrows money, the rate you pay for a mortgage and the value of the currency are all still in place. Those were the real problem.
Don’t let them off the hook. They crashed the financial system which (like it or not) our country relies upon. Just saying “whoops” and cancelling one policy does very little.
“We get it”
No, no you fucking don’t you unelected troll of a man
Fine. Cancel it. It really doesn’t matter now. What matters is how we, as a nation, a government, a G7 member, re-assemble any kind of international credibility after this utter descent into clown-car economics.
If the rest of the G7 have one brain cell between them, they will see that the crooks and gangsters have got control of the economy in this country and they are willing to sell the family heirlooms so they can get theirs and fuck everybody else. You do wonder how far any rebound in Sterling is likely to continue if the government continues to act in self-interest and not in the best interests of the country and it’s people.
Not because _the people_ were upset, heaven’s no. Because _other Tory MPs_ were upset. Sure…
What’s with these weird ways of presenting financial plans. Why 45p and not 45%? Why are we looking at average household price caps of £2500 instead of just saying the percentage increase per KWH.
Sixty five billion pounds.
Who else on the planet could make a mistake costing that much money and still be in a job with a simple ‘we got it wrong’ attempt at an apology.
They are an absolute disgrace.
So Poundland Thatcher and Kamikwasi just caused a £65B hole into the economy and get to keep their jobs?
#bananarepublic
Gotta give the guy some credit… As far as CVs go, I can’t say I know anyone who has done as much as he has in such a short time in a position: The country’s credit rating outlook has been reduced, they decimated the pound, our pension funds were on the brink, mortgage rates are ruined, the housing market could crash, ignored the IMF… Have I forgotten anything?
Edited: added “outlook” to credit rating.