General British politics discussion thread

The fallout arising from this for the average Brit will be an increase in inflation caused by the fall of GBP against major currencies. Any imported goods, like food, will cost more.

The deficit on trade will cause the GBP to fall more, and cause the BoE to increase interest rates to shore up the GBP and to try and combat inflation. Some of this has already happened, but more will be needed.

The budget deficit must be funded by increased taxation or by borrowing. Truss has gone for reduced taxation (for the rich) and that will make the situation worse. So, given the fall in sterling, the market may be unwilling to lend money. That is going to lead to a crisis - not many friends to come to their aid..

Exactly, it is fairy tale economics. Give tax cuts to the rich, and hope that causes growth is a real fairy tale. The rich just pocket the money - they 'earn' more than the can spend as it is.

Finance this tax cut by borrowing is banana economics that will have disastrous consequences as the required interest charges have to be paid by someone. We have been there - when the whole Irish income tax take was used to pay the interest on the national debt. Emigration was the result - but where will the Brits emigrate too - now the EU is no longer open to them, nor is Australia, NZ, or most places.

The need for tax cuts may be right.

It is the chosen cuts that are just plain stupid. If VAT was cut to, say, 15% then that would have an immediate effect, benefitting all consumers, whether they pay income tax or not. Obviously it is going to help those with deep pockets more as they have more money to spend, but it will stimulate the economy, and the benefit will only go to those who spend.

Cutting income tax - and only those on the higher rate is just a nonsense vote buying tactic. Unfortunately, no-one in the red wall constituencies will benefit, and few constituencies outside London will benefit. So ordinary voters will be utterly turned away from the Tories. How will the shires fair with agriculture hard hit by Brexit fair? Or those industries and businesses hit by high energy costs - will they be dancing in the street with the few bob in tax cuts completely wiped out by the huge energy bills?

The question is - will those Tory MPs from the red wall constituencies jump ship?

Labour should introduce PR because the current system benefits the Tories hugely, and the changes reducing the number of MPs in Wales makes getting a majority harder.

The Tory party could well split into the One Nation, and the Loony Swivel Eyed Right Wingers. Labour could also split, but not as likely. It would boost the left leaning parties, and the centrists.