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Ireland also needed a €64 billion loan from the IMF, ECB and EU (including €3 billion from the UK) to save its economy.
The primary reason why any government in any country seeks to draw comparisons with other countries is to mitigate their own failures.
We are all bound by a global economy and it’s ebbs, flows and events, but there are ways of handling it.
Elements of “ordinary” people’s lives have been stabilised by Hunt’s intervention, but others have potentially been made worse.
This, to me, is still simply about idealogy.
The price of STILL refusing to impose a meaningful windfall tax on energy companies is likely to be crippling energy bills for many, doubling of mortgage payments for younger home owners and industrial unrest as pay demands simply to maintain standards of living are met with not only refusal but anti-strike legislation.
A significant windfall tax could have balanced the books at a stroke and avoided so much of the above.
If Tories think Hunt’s austerity measures will revive Conservative fortunes in the polls, they may be in for disappointment.
Out of the frying pan, into the fire.
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"‘The price of STILL refusing to impose a meaningful windfall tax on energy companies is likely to be crippling energy bills for many, doubling of mortgage payments for younger home owners interests and industrial unrest as pay demands simply to maintain standards of living are met with not only refusal but anti-strike legislation.’
This. Yes, interest rates couldn’t stay on the floor forever but there had to have been a way to gradually increase them over a long period of time. People can plan for and cope with that. As it is they went up so quickly that people literally lost purchases overnight as rates rocketed and they could no longer afford them.
The energy bill help, yes it’s welcome but guess who’s paying for it? Taxpayers’ cash being taken and put in the pockets of energy ‘companies’. That could very easily have been done the other way around.
Many people can already barely afford to live and it’s only getting worse in the short, and probably medium, term. There is going to be trouble.
“Yes, interest rates couldn’t stay on the floor forever but there had to have been a way to gradually increase them over a long period of time. People can plan for and cope with that.”
BoE behind the curve (as i said in here in previous posts). Nice to see you’ve ‘got it’ at last
It is entirely possible that both the Bank of England and the government are to blame. Doesn’t have to be one or the other. Are they not capable of working together and communicating?
Sunak for example predicted this pretty much verbatim, why was he ignored?
I now think Sunak will be PM.
He got most votes among MPs and a poll of Tory members now shows he’d win if the vote was held again.
Enough members realise their mistake and that makes it easier to make the change.
He’s been very quiet, but expect that to change in due course.
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"Could be Ian.
Sunak plus Hunt.
The whole of the political classes, the media, ‘The Blob’ were up in arms about the tax giving budget with cries of unfair, paying the rich, etc.Now Hunt is going the other way and warning of dept spending cuts/savings.
Cue the cries from The Blob that this approach is not right either.
Oh dear.
‘The whole of the political classes, the media, ‘The Blob’ were up in arms about the tax giving budget with cries of unfair, paying the rich, etc.’
Really? Many politicians and sections of the media said it was a great budget, the best for decades or even ever. ‘At last! A true Tory budget’ said the Mail.
They had no choice except to row back on it and that’s a good thing but the damage is done. The reversal doesn’t wipe out the pound’s losses, the interest rate rise etc. That’s the problem, all that turmoil and for what?
And just who is ‘the Blob’ please?
There is a third way, Wilts.
Big windfall tax on the energy companies indirectly profiting (obscenely) from Putin’s war the Tories seem so keen to blame everything on the rest of the time.
I am "The Horse Racing Punter" on Facebook
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"Warning: this cartoon probably expresses the opinion of “the Blob”:
To be fair, when you’ve run out of real things to blame it’s far easier to just make something up.
Who knows though? Maybe we will find out who ‘the Blob’ is. I remain open minded. Google isn’t much use unfortunately. I wonder if it has anything to do with the Anti-Growth Coalition™ (currently polling at 70-75%).
I have little doubt there are vested interests that did not want Truss’s agenda to succeed which would have tested the mettle of a politician with far more intelligence, skill and backbone than the hapless Truss.
But as for “The Blob”, maybe Jimmy can explain (apologies for a small bit of politically incorrect language).
Haha quality.
There are no doubt vested interests who did want Truss’ policies implemented. Probably why it happened so quickly. I think I know which one is in the better interests of the country.
Some latest betting –
Truss exit as PM year
2022 1.63Next PM
Sunak 2.92
Mordaunt 5.6
Hunt 6.2
Starmer 10.5
Wallace 12Next Election Most Seats
Labour 1.4
Tories 3.5Overall Majority
Labour 1.91
No Overall Majority 2.74
Tories 7.6I am "The Horse Racing Punter" on Facebook
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"25 years ago you’re heading out on a camping trip and the signpost says Des Moines and the blood pressure in the car slowly begins to rise as the realization suddenly hits the two suckers in the box on wheels that they are on a holiday – direction Deadsville- and how on earth are they going to enjoy themselves ?
Des Moines is in Iowa and the sort of place that rejects and people that plan bad holidays head for, and daft drivers that end up in the slow lane turn off to. It’s a bit like UK after Brexit where the comb leaves a lot of tangles – it’s all destination but little soul and very little connection – but on the plus side heaps of aspiration. It rains the first night and boredom entices the holiday planner to open the flap.
” Hey they have all got far bigger tent pegs than us !!”
That disturbs the recepient of the holiday who vents her frustration…
” Shut the bloody flap, the cold is getting to me, and I’m trying to remember the good times, and all the while I’m half in the middle of a dream with Clark Kent in Smallville who’s whispering in my ear…
‘Superbloodygodammedholiday’
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