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Today’s Mini Budget.

(374 Posts)
Urmstongran Fri 23-Sept-22 10:03:22

What do we think of Kwarteng’s statement?

Farzanah Fri 23-Sept-22 19:50:06

I can appreciate what you’re saying Sweetpeasue and you did well by being prudent, but being aware of some working families who use food banks I know that every penny and more is accounted for because of the double whammy of heating and food prices.

Urmstongran Fri 23-Sept-22 19:49:09

I agree with you vegansrock.

vegansrock Fri 23-Sept-22 19:46:49

When I said the poor would spend their moneyI didn’t say they’d waste it. They’d be more likely to spend on food, clothes, essentials for the home, all those bills. Even if they spent it eating and drinking in the pub that would be contributing to the economy more than someone who leaves it in the bank.

growstuff Fri 23-Sept-22 19:40:53

Daisymae

I see that the pound has crashed. No doubt part of the plan.

It wouldn't surprise me if the pound is being "shorted".

Sweetpeasue Fri 23-Sept-22 18:53:35

Once lived on the poorest Council Estate could imagine. Slept on a mattress on bare floorboards. Took us 3 yrs to get out of it by saving a minimal amount. Kids slept in sleeping bags. No bedding. I know what it's like to be poor and thought it clear whose side I'm on. Defending any idea that the poorest could be wasters. Obviously not very well.
I don't believe in trickle down theory.


S

Katie59 Fri 23-Sept-22 18:45:18

Knittingnovice

I don't know why, but looking at them doesn't inspire any confidence in me at all. Depressing.

Doesn’t inspire confidence from anyone across the globe, maybe Truss has ultra rose tinted spectacles.

maddyone Fri 23-Sept-22 18:42:07

Urmstongran

What do we think of Kwarteng’s statement?

Not a lot!

Knittingnovice Fri 23-Sept-22 18:38:40

I don't know why, but looking at them doesn't inspire any confidence in me at all. Depressing.

Oldnproud Fri 23-Sept-22 18:38:39

Trickle-down economics?

Capillary economics, more like, with money steadily drawn upwards from those at the bottom of the pile to those at the top!

Sweetpeasue Fri 23-Sept-22 18:35:04

Yes I saw that coming and you're completely right paddyanne34
A quick response to Urmston gran.
The very poorest will not be able to hang onto money.
Still agree with CoolCoco post though.

Farzanah Fri 23-Sept-22 18:29:47

I feel for those who can’t afford to buy what is essential at the moment.
Sweetpeasue a poorer person doesn’t HAVE to spend it. They’re ac capable as anyone else to save.
There’s always the workhouse of course.

paddyann54 Fri 23-Sept-22 18:19:49

Its the poorly paid that are struggling the most ,the energy hikes and huge rises in essentials will mean a few hundred pounds or a mythical £1000 will be swallowed up without even touching the new rises .Of course the "poor" wont be saving it ,they cant eat or heat thanks to this incompentent and frankly criminal government Sweetpeasue

Fleurpepper Fri 23-Sept-22 18:19:20

The link to above

au.news.yahoo.com/top-us-economist-liz-truss-warns-pound-plunge-below-dollar-153400217.html

Fleurpepper Fri 23-Sept-22 18:18:28

‘Nothing but fear in the UK’: Top US economist slams Liz Truss tax cuts and warns pound could plunge below dollar'

Katie59 Fri 23-Sept-22 18:15:16

Many will feel insecure with this budget, the instinct then is not to spend but to save, we have no plans to spend more, paying extra into the mortgage now interest rates are rising seems a good idea.

Not exactly batten down the hatches, more go carefully.

Casdon Fri 23-Sept-22 18:14:01

In a year’s time it will be absolutely clear what a great chancellor and PM Gordon Brown was during the worldwide recession in comparison. The present approach is best described as couldn’t organise a p..s up in a brewery.

Sweetpeasue Fri 23-Sept-22 17:56:59

Can see there's a hole in this argument as a poorer person doesn't HAVE to spend it. They're capable as anyone else to save.
I agree with the general principle.

Farzanah Fri 23-Sept-22 17:52:31

I don’t think I have ever felt as depressed about a government as I am now. They are just reckless on so many levels, and the fall out will be so painful for so many.

Urmstongran Fri 23-Sept-22 17:52:31

If I’ve got 10p in my pocket I have to spend it.

Fleurpepper Fri 23-Sept-22 17:42:30

Sweetpeasue

CoolCoco

If a poor person gets another £1k they would spend it thus boosting the economy, if a rich person is given extra £1k it will just add to their bank balance, they wouldn't necessarily spend it. Has 'levelling up" been forgotten now? Is it now just "trickle down"?

Agree.

So do I.

Littleannie Fri 23-Sept-22 17:35:24

An old music hall song comes to mind:-
"The rich get rich and the poor get poorer, in the meantime ain't we got fun"

Sweetpeasue Fri 23-Sept-22 17:26:16

CoolCoco

If a poor person gets another £1k they would spend it thus boosting the economy, if a rich person is given extra £1k it will just add to their bank balance, they wouldn't necessarily spend it. Has 'levelling up" been forgotten now? Is it now just "trickle down"?

Agree.

Daisymae Fri 23-Sept-22 16:59:17

I see that the pound has crashed. No doubt part of the plan.

CoolCoco Fri 23-Sept-22 16:48:46

If a poor person gets another £1k they would spend it thus boosting the economy, if a rich person is given extra £1k it will just add to their bank balance, they wouldn't necessarily spend it. Has 'levelling up" been forgotten now? Is it now just "trickle down"?

DaisyAnne Fri 23-Sept-22 16:38:57

Oh great. I have just read that covid cases are climbing again. We just need a plague of locusts ...