- This topic has 2,548 replies, 35 voices, and was last updated 2 days, 2 hours ago by
.
- Posts
GDP down by 0.3%. Productivity down by 0.6%. And that is before her tax rises kick in.
Still, at least she has the smug look down to perfection.
GDP down by 0.3% is Donald Trump’s tariff I believe not Labour’s policy.
You've got to accentuate the positive.
Eliminate the negative.
Latch on to the affirmative.
Don't mess with mister in between.“GDP down by 0.3% is Donald Trump’s tariff I believe not Labour’s policy.”
Probably not; more likely the ER NI increases being implemented.
Jobs lost 250,000 (so far).Back to the global effects:
Any big uncertainty, event, oil crisis, another war in an important strategic place WILL severely knock her assumptions and strategy over next few years.
Hence, the main consensus, amongst the commentators, like Paul Johnson (IFS), is that this is a massive gamble.
The ‘National’ Credit Card has been flashed, once again.
Raise taxes on business who employ people – got to be a special kind of naive to think that wouldn’t have an effect on the economy or the costs of everything!
She was still harping on about the £22bn black hole which the OBR could NEVER find. Yet NO journalist has ever asked Labour to prove their figures….
The London-based media (or Salford), the Beeb, McCall’s ITV, Sky News – their journos wanted Labour and their ‘Blob’ public sector chums in office last July, and, yet, NONE of them want to hammer HMG’s reps, when appearing on their shows.
It’s left to the likes of Andrew O’Neil and Alex Brummer at The Mail to expose their dubious approach to sorting out the country.During the last Tory govt, Cameron’s govt and the Coalition preceding both, numerous Left-wing commentators were prattling on about future generations picking up ‘the financial tab’ in many years to come.
Now the current Chancellor and government are piling on the credit, for future generations to sort out.10-year bond yields are already at Truss-like levels, although many would never know because BBC, ITV journos fail, yet again, to inform the public.
Max out the credit card, interest rates will stay higher than they should be. Council tax rises of, at least, 5% per annum are baked in. For those in really sh#te council authorities, special measures will see rises well above 5% next year.
More government tax rises to come, whilst the £30bn bunged to the NHS, for example, will likely see a large chunk of that swallowed up by staff pay rises, and another chunk of it paid to the Private Healthcare co.s as they assist the NHS in clearing the Ops backlog.She, and them, are like a gambler chasing his/her losses –
“Just one more punt, one more punt and everything will be sorted”.The last Labour government with similar views and ideology bankrupted the country in the late 1970’s!
Although Blair didn’t share the same views he and his government did their best to do the same.
(the infamous note ….. there’s no money left)
Socialist’s always run out of other peoples money.
good luck to all“And that is why Guardian readers do not understand economics.”
You do realise that it’s the rightwing politics espoused by Sun/Express/Mail/Telegraph/Times readers that has got us into this situation?
There’s no money left was a joke. It was disgusting of Cameron to use it against Labour knowing that was the case.
Not only that, moehat, but it was based upon an old Tory joke, as Reginald Maudling left a very similar letter to his Labour successor James Callaghan in 1964: “Good luck, old cock … Sorry to leave it in such a mess.”
It’s left to the likes of Andrew O’Neil and Alex Brummer at The Mail to expose their dubious approach to sorting out the country.
Ah yes the same Mail which told us the Truss and Kwarteng debacle was the best budget in decades. It’s nothing more than a propaganda rag, take out the Labour bashing and other stories designed to get its readers frothing at the mouth and they’d struggle to fill a side of A4.
I’d love to know who people think does have the right idea on the economy. Fact is people want American taxes and Scandinavian public services. Choose one.
There is no getting away from it. Britain is heading for a severe fiscal crisis.
I don’t doubt this by the way. It will of course all be pinned on Labour when what we actually have is a failure of successive governments going back decades.
Their plans will pile on the credit, Richard.
And as for your very predictable comment about O’Neil and Brummer, just watch/listen to Paul Johnson at the IFS, who is a Left of Centre chap (actually worked for Gordon Brown in last Labour govts).Today’s Guardian online re P.Johnson; this IS damning from him, for sure (and The G were quite happy to publish) – says a lot – wake up and smell the ‘rotten’ coffee, guys:
Johnson had been up through the night crunching the numbers of Wednesday’s spending review and they didn’t look good. Maybe he’d had a bad morning, but for once his language wasn’t couched in any niceties. The chancellor’s spending plans might just about stack up according to her own fiscal rules, but if – as was probable – the Office for Budget Responsibility was to downgrade its forecasts, then Reeves was a “gnat’s whisker” away from tax rises in her autumn budget.
It got worse. The £14bn of efficiency savings were just not credible. Rather than going through a line-by-line approach of every departmental budget, the Treasury seemed to have made a blanket 10% cut across the board. “That is not the result of serious analysis,” he said. “I hesitate to accuse the Treasury of making up numbers, but … ” But the government had been making up numbers. We were in the realm of fantasy economics. (The Guardian online)
Wilts, you’re conveniently overlooking the fact that Labour have absolutely nothing to work with after fourteen years of Tory mismanagement.
I do not approve of a lot of what this government is doing, but to blame them for the current state of the economy is risible.
Precisely my point, The Guardian is at least happy to publish criticism of a government it, broadly speaking, supports. Don’t recall much scathing analysis of The Blue Team from the right wing press (which is most of it) over the last 14 years, they just continued to cheerlead.
“….to blame them for the current state of the economy is risible.”
From The Guardian, this Tuesday:
More than a quarter of a million jobs have been lost in Britain since Rachel Reeves’s autumn budget, official figures show, fuelling a rise in unemployment to the highest level in almost four years.
In a blow for the chancellor on the eve of Wednesday’s highly awaited spending review, the figures from HMRC show the number of workers on company payrolls fell by 109,000 in May – the largest monthly fall since the same period in 2020 during the first Covid lockdown.
And, as i posted earlier,
Raise taxes on business who employ people – got to be a special kind of naive to think that wouldn’t have an effect on the economy or the costs of everything.
Labour’s playbook:
– Get elected on a promise of no tax rises.
– Very quickly make a series of terrible policy decisions that stall the economy.
– Blame the last government for a financial ‘black hole’ that no one can appear to find.
– Raise taxes.“Precisely my point, The Guardian is at least happy to publish criticism of a government it, broadly speaking, supports. Don’t recall much scathing analysis of The Blue Team from the right wing press (which is most of it) over the last 14 years, they just continued to cheerlead”.
I’ve been saying for ages now that I don’t recall the news media scrutinising everything that the previous government ( in its various incarnations) did. Nor do they scrutinise Farage and Tice when they’re interviewed on tv most days. Thank goodness for the analysis on TRIP’s podcast.
- You must be logged in to reply to this topic.