Forum Topic

Truss & Kwarteng

Dumb & Dumber

Sue Hammond ● 992d22 Comments

No we didn't. That's rubbish. We spent very little on lockdowns - hardly any effort was required to maintain or police them. We spent £359bn on a pandemic. This included protecting the earnings and jobs of millions of people who would otherwise have been unemployed and bankrupt as a result of the massive downturn in the economy which occurred regardless of mandatory lockdown rules in the UK (check out Brazil). It also included substantial expenditure on the health system - testing, PPE, vaccines, emergency treatment, temporary hospitals etc.The UK's outstanding national debt is perfectly manageable, GIVEN A COMPETENT GOVERNMENT WHICH MAINTAINS THE CONFIDENCE OF THE INTERNATIONAL BOND MARKET.Here's an example. The waiter at Rick Stein's who got paid by the government for a while, incurring more national debt. No way was I going to Rick Stein's whether Boris said I could or not. There are many more like me. That guy's job was gone as was his livelihood and possibly his family and home, save for Sunak's support package.Just as with a major war, it will take many years to pay down the debt incurred. Thus unnecessary (and inflationery) tax cuts are a really stupid idea atm.

Michael Winstanley ● 989d

Rather more apposite than Tate's repetitive posting (he seems to under the impression that if you repeat nonsense often enough, someone somewhere might even believe it) is this comment on the Times website:

Richard Carter ● 989d

This country spent £350 odd billion on the cost of lockdowns.Robert Peston was at the front of the MSM queue hammering Boris to lock us down harder and for longer. He is an absolute hypocrite now blaming the government for the debt crisis🤡

Robin Tate ● 989d

And the last paragraph of the article in The Economist:"..... The government cannot afford fresh calamities. Mr Kwarteng is due to unveil new rules for fiscal sustainability in late November. He should move faster than that. Ms Truss should cancel the cuts to income tax, focus on investment incentives rather than the headline rate of corporation tax, and expand levies on energy producers to fund help with energy bills. The supply-side reforms due to be unveiled soon need to be watertight in their design and presentation. Even then it will be hard to escape the shadow of the past few days. In its first weeks the new government has shredded its own reputation, unleashed higher inflation, forced emergency action from the central bank, and made growth harder. Just imagine what it can do in a month or two."

Ivonne Holliday ● 989d

And this from the Economist: How not to run the country https://www.economist.com/leaders/2022/09/28/how-not-to-run-a-country

Ivonne Holliday ● 989d

When the estate agents are querying Tory actions (I say actions because policies would imply some sort of planned strategy) we have surely a serious problem?https://thenegotiator.co.uk/london-agent-truss-toy-town-economics-are-huge-gamble/

Michael Ixer ● 990d

@RoyNo idea about his mental state but his behaviour was not only very disrespectful but extremely stupid when multiple cameras were filming the proceedings.

Sue Hammond ● 990d

If you have any doubt Kwarteng is crazy, Google his name with Queen's funeral. His behaviour, laughing and gurning and holding his head like a maniac in the Abbey while not engaging with anyone in the immediate vicinity speaks for itself.

Roy Robart ● 990d

A point to ponder. Those reacting and losing confidence in the pound and UK markets are the traders and analysts not usually known for their left wing sympathies, and including some who will likely benefit from removal of the higher rate tax band and bonus limits ... hardly a left wing conspiracy against the government?

Michael Ixer ● 990d

This is reaching absurdist levels: loony Brexiteer Daniel Hannan has blamed fears of Labour government for the market chaos: someone on Twitter has identified this comment as the moment when the Tories moved from blaming the last Labour government to blaming the next one !

Richard Carter ● 990d

This country has spent over £300-400 billion on the cost of lockdowns, and £150 billion on an energy support package.Yet the MSM and the technocratic elite want you to believe a £2 billion tax cut policy is the problem. Dishonesty and misinformation at its absolute worst.

Robin Tate ● 991d

There are plenty of people who are 'bright but crazy', but they don't normally end up being appointed to run the UK economy. They'd be accommodated somewhere more suitable.

Alexander MacLeod ● 991d

Interesting. I was told by someone who'd been talking to someone else who knows Kwarteng that "he's very bright intellectually but crazy". I don't know if that's true but it would suggest a risk taker ...

Michael Ixer ● 992d

After 12 years of increasing Conservative mismanagement and  lining their own pockets and those of their friends it is most definitely time for a change of Government. The sooner the better.Having said that, the Conservatives seem to want to leave the country in the worst possible state which no incumbent will be able to rectify then, at the  General Election after next, roll back into power.

Lucille Grant ● 992d

Surely it's time to think out of the box. The record speaks for itself. A dozen years of Conservative government, and  four failing Tory PMs in recent memory (Cameron, May, Johnson, Truss) and the resulting current crisis, maybe we shouldn't be thinking Tory at all. Suggestions, please!

Alexander MacLeod ● 992d

I'm sure that's true, Sue. I think an initial reaction from many in the Tory party is to be tempted to turn a blind eye to his lies and other misdemeanors but, as you say, for the MPs it's to protect their own position not for the good of their constituents. It could provide a vulnerability that exploited correctly by Labour would give them a significant advantage at the next election, particularly if the Red Wall voters suffer from excessive interest rates and cost of living rises from a falling pound on top of increased energy prices. Energy prices can be put down to world events; interest rates and the pound look self inflicted. Seeing bankers making money from the turmoil with unlimited earnings and energy companies making bonus profits could be difficult to explain to people forced to go to food banks or being told to put on extra woolies? Someone like Sunak or Javid could be seen as a sensible option to put things ack on track? Not that I should give advice to the Tory party, but it woul be naive to think it's a done deal for Sir Kier :-) Still, perhaps this will be a lesson to people that the Tories only really care for themselves and trickle down economics is a con? (And we still need to know the truth about all those deals done without appropriate due diligence during the pandemic.)

Michael Ixer ● 992d

On the other hand Michael there are many others who are now regretting pushing Boris out because they now realise he was their best chance of them holding onto their jobs.

Sue Hammond ● 992d

Absolutely Andy!🤞🏼

Sue Hammond ● 992d

Well, as I noted on the other thread it's reported the letters of no confidence are already being sent. Is Johnson hopeful? Ah, but the Conservative MPs in parliament have already said they don't have confidence in him. Another chance for Sunak?

Michael Ixer ● 992d

Return of Boris ?? 😁😁😁

Andy Pike ● 992d

Guaranteed I would say.

Sue Hammond ● 992d

100% - one wonders if another leadership contest may be not too far of.

Clifford Cowell ● 992d