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Budget 2024

beak said:
...But indisputably came out on TOP with most M.P.s. 😏 😉😊 NO one likes a bad loser.
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Sure they won the most seats but there overall popularity in terms of numbers of votes was nothing to write home about. They won because many of the usually Tory supporters, voted Reform or did not vote at all - and that was because they saw the Conservatives as Labour-Lite. If you really want to study bad losers - look at Remainers or those suffering from TDS.
 
georgenorman said:
Sure they won the most seats but there overall popularity in terms of numbers of votes was nothing to write home about. They won because many of the usually Tory supporters, voted Reform or did not vote at all - and that was because they saw the Conservatives as Labour-Lite. If you really want to study bad losers - look at Remainers or those suffering from TDS.
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I can trot out a million reasons why Labour won . The fact remains that we did and the Tories do not like having their gonads squeezed.It is our turn know.
 
beak said:
Donald Trump a big fan of the Labour government US President Donald Trump has said Prime Minister Sir Keir Starmer has done a "very good job thus far" and that the pair have a "very good relationship".
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Based on blind obedience to the USA that is correct, and Trump needs a subservient ally like the UK because the rest of the world is increasingly less inclined to be one.

😎
 
cryrst said:
Johnson did brexit to a degree
Truss did not burn the economy like Rachel from accounts
Sunak told us we would all be 2 k poorer and he will be proven correct.
So where are the reasons to vote labour you are on minus 3
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If I could have any superpower it would be to confidently spout this much utter bollocks in public and feel no shame.
 

Anyone actually interested in the economic environment around the Truss budget might read this.

For those who just spout on ideological grounds ( you know who you are Beak, Jew Hater and Dan H) and are unlikely to grasp the economic points more complicated than counting your fingers , don't bother.



The summary is :

We have seen in this report that it is not true that “Liz Truss crashed the economy”.• The economy did not crash, by any understanding of an “economic crash” that economists would normally recognise.• The financial volatility of late 2022 did not create material enduring economic effects that could be understood as “crashing the economy” even by some very loose understanding of that term.• Even in respect of the period of financial volatility itself (which was manifestly not a crashing of the economy), it is implausible that the mini-Budget played a significant role other than as a component of a trigger. The crisis was demonstrably not a sovereign debt crisis. Rather, it was a consequence (perhaps even a consequence that was inevitably going to occur at some point) of the normalisation of interest rates in an inflationary (rather than improving real growth) environment, given the liquidity vulnerabilities of LDI pension funds.

The action taken by the BoE at the time resulted in a PROFIT for the UK treasury!!!
 
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HKOwen said:

Anyone actually interested in the economic environment around the Truss budget might read this.

For those who just spout on ideological grounds ( you know who you are Beak, Jew Hater and Dan H) and are unlikely to grasp the economic points more complicated than counting your fingers , don't bother.



The summary is :

We have seen in this report that it is not true that “Liz Truss crashed the economy”.• The economy did not crash, by any understanding of an “economic crash” that economists would normally recognise.• The financial volatility of late 2022 did not create material enduring economic effects that could be understood as “crashing the economy” even by some very loose understanding of that term.• Even in respect of the period of financial volatility itself (which was manifestly not a crashing of the economy), it is implausible that the mini-Budget played a significant role other than as a component of a trigger. The crisis was demonstrably not a sovereign debt crisis. Rather, it was a consequence (perhaps even a consequence that was inevitably going to occur at some point) of the normalisation of interest rates in an inflationary (rather than improving real growth) environment, given the liquidity vulnerabilities of LDI pension funds.
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Firstly, I am an economics graduate and now work advising many multinational businesses, so good try. Secondly, classy and very mature of you to go straight in with personal insults. Speaks volumes.

Important to provide some background and context to this report and its author. Europe Economics is the consultancy firm of Andrew Lilico. That name might be familiar to those of the work of the Institute of Economic Affairs (IEA) - a right wing think thank with an opaque funding model that has been criticised for acting more as a lobbying entity than a think tank. Lilico has also been the most vocal of supporters for Truss throughout her political career, and she has been seen as the political 'face' of the IEA and other Tufton Street thinktanks' economic ideas. He is also a regular columnist in famously political neutral publications The Spectator and The Telegraph, among others.

While it is true that the mini-budget did not in itself in isolation cause the economic impact that followed, proposing massive unfunded tax cuts at a time of already perilous, high inflationary, macroeconomic conditions further spooked the gilt markets who acted by dramatically increasing interest rates.

There is a genuine economic argument that Truss' approach is one that can lead to higher growth by providing a more competitive low tax environment for businesses and individuals to operate in. Proposing it when she did, however, was naive at best, economically illiterate at best.
 
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DanH said:
Firstly, I am an economics graduate and now work advising many multinational businesses, so good try. Secondly, classy and very mature of you to go straight in with personal insults. Speaks volumes.

Important to provide some background and context to this report and its author. Europe Economics is the consultancy firm of Andrew Lilico. That name might be familiar to those of the work of the Institute of Economic Affairs (IEA) - a right wing think thank with an opaque funding model that has been criticised for acting more as a lobbying entity than a think tank. Lilico has also been the most vocal of supporters for Truss throughout her political career, and she has been seen as the political 'face' of the IEA and other Tufton Street thinktanks' economic ideas.

While it is true that the mini-budget did not in itself in isolation cause the economic impact that followed, proposing massive unfunded tax cuts at a time of already perilous, high inflationary, macroeconomic conditions further spooked the gilt markets who acted by dramatically increasing interest rates.

There is a genuine economic argument that Truss' approach is one that can lead to higher growth by providing a more competitive low tax environment for businesses and individuals to operate in. Proposing it when she did, however; was naive at best, economically illiterate at best.
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Like Rachel from accounts.

The LDI point is factual whatever spin you want to put on it. Your tune seems to have changed when presented with some facts.

So, you now retract the slur that someone suggesting Truss did not burn the economy is spouting boll@@ks, make your mind up.

This is presumably your apology to Cryst
 
DanH said:
Firstly, I am an economics graduate and now work advising many multinational businesses, so good try. Secondly, classy and very mature of you to go straight in with personal insults. Speaks volumes.

Important to provide some background and context to this report and its author. Europe Economics is the consultancy firm of Andrew Lilico. That name might be familiar to those of the work of the Institute of Economic Affairs (IEA) - a right wing think thank with an opaque funding model that has been criticised for acting more as a lobbying entity than a think tank. Lilico has also been the most vocal of supporters for Truss throughout her political career, and she has been seen as the political 'face' of the IEA and other Tufton Street thinktanks' economic ideas. He is also a regular columnist in famously political neutral publications The Spectator and The Telegraph, among others.

While it is true that the mini-budget did not in itself in isolation cause the economic impact that followed, proposing massive unfunded tax cuts at a time of already perilous, high inflationary, macroeconomic conditions further spooked the gilt markets who acted by dramatically increasing interest rates.

There is a genuine economic argument that Truss' approach is one that can lead to higher growth by providing a more competitive low tax environment for businesses and individuals to operate in. Proposing it when she did, however, was naive at best, economically illiterate at best.
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The old double best ploy.

So the economic argument of leading to higher growth is dependent on timing ?
 
HKOwen said:
Like Rachel from accounts.

The LDI point is factual whatever spin you want to put on it. Your tune seems to have changed when presented with some facts.

So, you now retract the slur that someone suggesting Truss did not burn the economy is spouting boll@@ks, make your mind up.

This is presumably your apology to Cryst
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Patronising and sexist. Classy and pleasant individual aren't you?

Truss caused far more lasting damage than 'Rachel from accounts' has done so far. The report reads as a desperate attempt to downplay the impact that her mini-budget had at the time. Anyone with even a shred of economic literacy knows that a government's tax and spend policy is but one of many factors into macro-economic conditions, but her fiscal proposals were the final straw that caused UK gilts to rocket and interest rates as central banks were already taking measures to try and cool inflation. Interest rates were already going up, and may have gone up as high as we have seen. Truss' plans just turbocharged that and made it happen overnight.

What she was proposing made absolutely no economic sense given the macroeconomic conditions she was presented with. To use a footballing analogy it's like Ange still trying to play the way he is at Spurs with no fit players. She was all ideology and no reality.
 
DanH said:
Patronising and sexist. Classy and pleasant individual aren't you?

Truss caused far more lasting damage than 'Rachel from accounts' has done so far. The report reads as a desperate attempt to downplay the impact that her mini-budget had at the time. Anyone with even a shred of economic literacy knows that a government's tax and spend policy is but one of many factors into macro-economic conditions, but her fiscal proposals were the final straw that caused UK gilts to rocket and interest rates as central banks were already taking measures to try and cool inflation. Interest rates were already going up, and may have gone up as high as we have seen. Truss' plans just turbocharged that and made it happen overnight.

What she was proposing made absolutely no economic sense given the macroeconomic conditions she was presented with. To use a footballing analogy it's like Ange still trying to play the way he is at Spurs with no fit players. She was all ideology and no reality.
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LMFAO, you are risible, end of.

Flail away with insults, give it your best best shot ( see what I did there )
 
HKOwen said:
LMFAO, you are risible, end of.

Flail away with insults, give it your best best shot ( see what I did there )
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So you name check me in a post that was nothing to do with me, insult me, belittle my education and career, and I'm the risible one?

Right.
 
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