General British politics discussion thread

Seth Brundle

https://www.boards.ie/discussion/comment/119656457#Comment_119656457

I wasnt really trying to be funny. I honestly cannot believe that the current Tories are able to do anything that might help those less well off (the riff raff). There is nothing to suggesr that they are not out to benefit the wealthy including their wealthy donors.

Knowing that there is a cost of living crisis across Europe with the UK in a particularly vulnerable position (again because of the tories), how could today's budget be anything other than what people see it to be?

fash

https://www.boards.ie/discussion/comment/119656821#Comment_119656821

Part of it seems to be:

"we've got 2 years before an election, which we'll probably lose. Let's see if what we've been spouting for years actually works (even if all economists say it won't). Either it does (even to some extent/enough to appear to work temporarily), in which case we've a chance of getting elected again or otherwise, Labour get landed with a destroyed economy which will make governing & winning a 2nd election difficult. Plus our friends get to make loads of money - we can't lose".

So full on, "heads I win, tails you lose and I don't care than "tails you lose is 99.999% certain"

breezy1985

https://www.boards.ie/discussion/comment/119658352#Comment_119658352

They know it works. For themselves and their posh buddies.

They know it won't work for the general population. Of course to reverse it we will have all the shty tabloids banging on about Labour "raising" taxes.

pixelburp

https://www.boards.ie/discussion/comment/119658366#Comment_119658366

It's so predictable as to be depressing. Labour will eventually limp into power with a negligible majority. I doubt we'll see a great rejection of the Tories; then immediately Labour will need to solve the economic crisis made by the Tories. Of course the only option will be to restore the tax bands and whatnot removed yesterday - and so cue the red tops and client journalists raging about socialism and woke lefties attacking high earners.

Itssoeasy

Im only catching up on the announcement or mini budget in the commons yesterday and this new government is taking a massive punt and the markets are less than enthusiastic about it.

Larbre34

Thats an understatement.

Unnamed Tory backbenchers are calling it "Madness". The markets expect it to pull the rug out from under the mass economy and tank whats left of it.

Labour are calling it 'casino economics' and thats also an understatement.

I'd give it a few weeks of turmoil and then you'll see a Vote of no Confidence in the Commons. Enough of the Boris loyalists and one-nationers will vote with the opposition and there'll be General Election before Crimbo.

MadYaker

I thought she would last until the new year but maybe I was wrong.

Strazdas

A lot of people are commenting on the role of the IEA in all this - shady far right thinktank crowd with mystery billionaire backers who keep getting invited onto the BBC and Sky News. They could practically have written this entire budget.

Larbre34

https://www.boards.ie/discussion/comment/119659210#Comment_119659210

Yeah, the snowball effect could be quite amazing now.

breezy1985

https://www.boards.ie/discussion/comment/119659210#Comment_119659210

I'm hoping she lasts till my holiday in November. Her antics are doing wonders for the value of my Euros

Larbre34

Sorry to pee on your parade fren, but when the crazies take over in Italy next week, the Euro will drop like a rock off a viaduct.

A G7 economy within the Euro going rogue, is an existential threat to monetary union itself.

breezy1985

https://www.boards.ie/discussion/comment/119659525#Comment_119659525

We're there not always crazies in charge of that sht show.

Most of my living memory was M5S, a Tony Blair style "left" PM who lasted a wet week, nazies and bunga bunga man.

cmac2009

https://www.boards.ie/discussion/comment/119659596#Comment_119659596

Italian governments have an average shelf-life of about 18 months. I'd expect this one to be well below the average.

ancapailldorcha

The RSPB have broken their silence and weighed in. Quite the intervention for a charity that will have a rural, Tory-leaning support base:

https://twitter.com/RSPBEngland/status/1573366815568580613

Well worth a read.

breezy1985

https://www.boards.ie/discussion/comment/119659804#Comment_119659804

Caring about birds is just snowflake wokeness.

Larbre34

https://www.boards.ie/discussion/comment/119659596#Comment_119659596

Yes and no.

Mario Draghi, just departing now is former Euro Central Bank boss and a classic technocrat.

Salvini and Co were too inexperienced to know which fights to pick.

Signora Meloni is old school Mussolini fascism, she'll go straight after isolationism, debt repudiation and immigrants.

Strazdas

https://www.boards.ie/discussion/comment/119659525#Comment_119659525

Italy has always been pencilled in as a basket case country though, with many political extremists among its ranks.

salonfire

In all the outrage of tax reliefs on the well off, is there any proof it will reduce the tax revenue?

If the budget changes results in increasing tax revenue, then it's a good move.

Unless you're just jelly that someone else is earning more than you are and you want to see them lose their earnings to the tax man.

ancapailldorcha

Until I see ironclad evidence that this will be beneficial as opposed to the trainwreck it patently is, I'll stick with what the experts are saying instead of yesterday's debunked neoliberal twaddle.

Brussels Sprout

https://www.boards.ie/discussion/comment/119660114#Comment_119660114

There are little or no budget raising measures in there. They're funding the tax cuts by borrowing the money.

salonfire

https://www.boards.ie/discussion/comment/119660119#Comment_119660119

The same could be said for Ireland then. Why are workers losing more of their income than wealth corporations lose their profits.

But most agree it was by having a low corporation tax that got us out of the mess of the 50s, 80s and 10s. Not much support for raising the CT rate.

Is what Truss announced not the same thing?

ancapailldorcha

https://www.boards.ie/discussion/comment/119660146#Comment_119660146

No, it couldn't.

Feel free to provide evidence for your assertion.

VinLieger

https://www.boards.ie/discussion/comment/119659804#Comment_119659804

Isnt charles mad for the enviornment? Will he follow his mothers path and not speak out? Especially over issues he is very involved in?

breezy1985

https://www.boards.ie/discussion/comment/119660114#Comment_119660114

All expert analysis points to no increasing tax revenue.

It's as made up as the benefits of Brexit.

ancapailldorcha

https://www.boards.ie/discussion/comment/119660153#Comment_119660153

Very much so, yes. He's been on and on about it for years. It's his one tenuous chance to strengthen his position and that of the monarchy for the future. He has pledged to be neutral though.

https://www.boards.ie/discussion/comment/119660170#Comment_119660170

i think he will carefully pick the things on which he will not be neutral. And planning, habitat and climate will be three of them for sure. He doesn’t have the luxury that his mother did of being neutral on everything. The younger generation will expect him to be relevant, or they will start to wonder what is the point. William will probably be part of the conversation too.

He’ll piss some people off, for sure, especially the right wingers, but to fade into an obscurity of neutralness will be the worst outcome for him.

so, given that he probably does need to take a stance, this is coming at him very very fast

Larbre34

He doesn't really have a choice but to be absolutely neutral.

He is the bloke delivering the King's Speech after all. A contradiction in terms if ever there was one.

But, he will make sure his patronages are looked after. In the absense of Harry and Andrew from public duties, Prince Edward and Sophie will be created Duke and Duchess of Edinburgh and will do a lot of the heavy lifting for causes close to the King's heart and indeed close to the late Philip, Duke of Edinburgh before them.

Successors to the Princess Royal will be needed too, soon enough, but I guess they will come from Prince William's family, George and later Charlotte, who will be the new Princess Royal on her Father's succession down the road.

Either way, by dint of the successive heir's families shrinking and the likes of Peter and Zara Phillips being private citizens, the monarchy in Britain cannot but shrink considerably in the next couple of decades.

I'd expect to see many of the palaces and stately homes being sold off too; probably Kensington Palace, Clarence House and either of Highgrove or Sandringham. Windsor, Balmoral and the HQ at Buckingham Palace is enough for any small monarchy. St James's Palace is also the historic seat of the Royal Court, but it fulfills little practical purpose anymore, except for very occasional ceremonials. Not really justifiable to keep a site worth tens of millions in the heart of London for such use.

Sam Russell

Queen E looked after the private wealth of the monarchy, and Charles looked after wealth of the Duchy of Cornwall.

King Charles could perhaps divest the monarchy of much of its palaces and estates - giving them to the the state, or the National Trust.

Buck House would make a fantastic draw for tourists, particularly if it housed the royal art hoard, and much of the jewellery they owned - even if it was only on loan. It would top the Louvre.

Sam Russell

GBP is heading for 90p to € and 1.08 to US$.

Looks like a crash is looming, with a bail out likely.

The markets do not like a massive balance of payments deficit and a budget deficit financed by borrowing and increasing interest rates. Trickle down Reaganomics does not work - it only makes the rich richer - but that is the intention. A populist party that is only popular with the very rich.

If Truss makes it to Christmas, I would be surprised.

Nody

https://www.boards.ie/discussion/comment/119662080#Comment_119662080

I think you're selling Truss (or rather the Tory party) short here; she'll easily make it past Christmas because their donors will love the tax rebates etc. but end of next summer I could see a new PM in place. By then the inflation and gas prices will have knocked out quite a few companies (inc. pubs which is what the voters care about) and she'll be very disliked as things did not improve after Christmas. At that point I could very well see Boris doing a "remember berry" push to the party of how he was really liked and got a 80 seat mandate etc. and will go on win them the next election.