Labour And The Mini-Budget

[Paigntonian]

Labour Shadow Chancellor Rachel Reeves says Kwarteng's statement is a repudiation of 12 years of Tory government. Labour should welcome it then, as they have slammed the Tories' economic policies for all of that time.

[Paigntonian]

And Labour must be smarting. A Tory chancellor delivers a truly Conservative set of measures when they haven't been able to deliver a truly socialist budget since 1945.

[FatticusInch]

So they should. Many will be scratching their heads as to why the government have shafted the taxpayer in extreme austerity when they could have avoided it with the windfall tax on the energy companies.
Bye-bye Tories at the GE, they’re just organising the last big pay day for the wealthy before they’re ousted from power.

Cue the AB bookmaker…..

[FatticusInch]

But I forgot, that particular bookie has taken a vow of silence with me.
I was going to stake 50 quid too. Never mind.

[jno]

Tory or Labour - someone's going to have to pay for the handouts Truss said she didn't believe in. I don't know if you have children but if so, don't expect them to love you for the unpaid bills you bequeath them.

[Gromit]

In the Spring the Government forced through an increase in NI contributions. Labour opposed that.
Now, less than 5 months later, they have thankfully reversed that decision and done a huge U-turn.
All adds to the perception that they haven’t a clue what they are doing.

[FatticusInch]

You can’t really argue with her assessment.

https://vm.tiktok.com/ZMFdt2ELF/

[jno]

as a Tory MP pointed out, balancing the books also used to be Tory policy.

[Gromit]

There are about 25 million UK workers earning so little that they don’t pay tax. Just less than half the total workforce.
Those are the people worrying about not being able to afford the cost of living rises.
Generous tax cuts will gain them precisely NOTHING.
The worse off have been overlooked in favour of lowering the taxes of the rich.

[Gromit]

The opposition are obviously going to oppose the budget. For some strange reason you want to discuss that?

Why not discuss instead what the Government have done, and whether it will help pensioners and the low paid through the cost of living crisis ?

All of todays promises will be funded by £200Billion from the magic money tree.

[Paigntonian]

Love the way the BBC keeps saying the 45 per cent higher rate of tax on people earning over £150,000 has been abolished but not saying there's a new higher standard rate of 40 per cent.

[youngmafbog]

//Why not discuss instead what the Government have done, and whether it will help pensioners and the low paid through the cost of living crisis //

Why does it have to be about them? For once the people who work hard and pay for everything are being considered.

In case you dont understand it, these measures are clearly to stimulate the economy by putting money where people will spend it. In other words attempting to avoid deep recession which really wouldnt help the poor.

[jno]

but the 40% rate isn't new, is it?

[youngmafbog]

Note that none of the tax cuts actually take place until April.

[Bazile]

Kwarteng?

Is the Rishi on a round the world tour , or something ?

[youngmafbog]

Sorry, but do you live under a rock or not in the UK Bazille?

[Ken4155]

^
You had a good kip, Baz?

[FatticusInch]

Youngmafbog,
//In case you dont understand it, these measures are clearly to stimulate the economy by putting money where people will spend it.//

Would you like to stipulate which area/areas that’ll be?

https://www.pwc.co.uk/services/economics/insights/uk-economic-outlook.html

/The growth outlook for the UK has deteriorated. Over 2022, we expect UK GDP growth to average between 3.1% and 3.6%, followed by two years of slow, or even negative, GDP growth./

Funny too how you believe those on lower wages don’t work as hard as the high wage earners?

[Ellipsis]

Hibernation, more like ...

[pimplyteen]

fatt @11.48 Do you mean Alf Garnett? :0)

[FatticusInch]

pimplyteen
//fatt @11.48 Do you mean Alf Garnett? :0)//

Lol, exactly. He got a bit precious on the What Do ABers Look Like thread but he definitely walks among us.
Talking of which….

https://www.gambling.com/news/next-uk-general-election-betting-odds-2300500

That’s 2 weeks old though, to be revised after today I’d imagine?