Today’s Mini Budget.

DaisyAnne

Just heard Sir Rocco Forte say "never have I heard a new government hit the ground running like this." How can the BBC ask a man who thinks of democracy in this way, what his opinion is?

Denmark may be doing okay but there is certainly something rotten in our state.

Why? Because everyone is entitled to an opinion.

I haven’t had a chance to read what the Chancellor has said yet as I have been out.

The only bit that I have noticed on Twitter was the reduction from 45% to 40% for those earning over £150,000, not sure now is the correct time for that.

And the Pound takes another massive hit and keeps its devastating fall, as the markets are truly not impressed with Truss, Kwarteng and this mini-budget!

Anything we have to import, be it medicines, chemicals, energy, foods, cereals, parts for industry, etc, etc, etc - will cost us massively more.

And highly qualified staff from abroad will not be attracted by low salaries which are worth so much less in their own countries.

Whitewavemark2

The markets are not convinced neither are economists.

There will be no boom, just bust.

Are they saying no initial boom Whitewave? Perhaps we are all too aware now.

The only thing that would attract workers in the financial sector is for the U.K. to re-join the EU.

Whitewavemark2

The only thing that would attract workers in the financial sector is for the U.K. to re-join the EU.

London is still No.2 in the world behind New York in the list of Financial Capitals, the closest EU one is Frankfurt at No.23

(Source - I just googled)

Whitewavemark2

The only thing that would attract workers in the financial sector is for the U.K. to re-join the EU.

I was thingking about doctors, nurses, carers, builders, butchers, agricultural workers, bus and lorry drivers, Chefs, bar, restaurant, hôtel, staff, etc.

Before they came to settle, with their families, happy in the knowledge they were welcome, and that their wages, although lower than most of EU, went quite a long way in UK. If they come now, it is short term, not to settle, as they have been shown, proven even, that they are not welcome longterm, and they will be 'let go' when no longer easy to exploit.

I think the ordinary Joey in the street (me) is waiting for the Personal Allowance threshold to be raised. Perhaps an announcement in the autumn Budget?

In the meantime let’s hope this stimulus helps small independent businesses who have had such a hard time of late.

They are also going to reduce planning restrictions. Truss says that she doesn't care about being popular, maybe she's forgotten how democracy works?

Urmstongran

I think the ordinary Joey in the street (me) is waiting for the Personal Allowance threshold to be raised. Perhaps an announcement in the autumn Budget?

In the meantime let’s hope this stimulus helps small independent businesses who have had such a hard time of late.

It depends on the nature of the business. Businesses such as hospitality and services like hairdressing will still have a hard time, if people cut back because they're shirt of money.

Daisymae

They are also going to reduce planning restrictions. Truss says that she doesn't care about being popular, maybe she's forgotten how democracy works?

In that case, they're handing seats to the LibDems in the Tory shires.

I have always 'known' that we are safest, in all senses, when we have good, properly funded public services. Most of my friends are of like mind - they would be - but I know a few people who don't see why they should pay their taxes for public services that they don't think they need.
Locally, we have had some incidents over the summer that have shaken those people badly. They now know how it feels to be frightened and threatened, with a call handler indicating that you are not a priority; and to wait hours for an ambulance, with neighbours weighing up the risk of moving you.
I really want to say to them "What did you expect - that the fairies would magic services when you need them?". But that is unkind to people who are traumatised.

Of course the Tories are going to favour the rich. That's already a given. The question is not whether there will be a boost to growth (very unlikely imho) but whether bribing the electorate will give Truss a boost.

Grantanow

Of course the Tories are going to favour the rich. That's already a given. The question is not whether there will be a boost to growth (very unlikely imho) but whether bribing the electorate will give Truss a boost.

I suspect those who were bribed today already vote Conservative.

This government has trashed and consigned to history the Manifesto pledges it made when they were elected. Is everyone forgetting that we, the voting public DID NOT VOTE for this massive debt that we have all been saddled with. Trickle down economics my foot, this is trickle up to make life easier for the millionaire members of the Cabinet and their backers. They know they will lose the next election so they can leave the mess to be cleared up by Labour whilst Truss, Kwasi, Rees-Mogg and Coffey look down on us from their lofty perch. The whole lot of them are a disgrace.

Urmstongran

I think the ordinary Joey in the street (me) is waiting for the Personal Allowance threshold to be raised. Perhaps an announcement in the autumn Budget?

In the meantime let’s hope this stimulus helps small independent businesses who have had such a hard time of late.

The only thing that has changed for small independent businesses is the increase in bank interest. Corporation tax is staying at 19%. Those who have unincorporated businesses benefit by a reduction of the basic rate of tax to 19%. Big deal.
The 1% reduction isn't going to encourage many people to spend more.

Those for whom the highest rate is now 40% will benefit, but as the owner of a pizza restaurant said on James O'B this morning, they are hardly going to buying larger pizzas. I suppose they might go twice a week instead of once perhaps.
Those people are more likely to spend their money elsewhere - holidays abroad, ready to wear from the couturiers, a second or third home maybe.

MayBee70

I think they know they’re going to lose the next election. So they’re going to leave this country in such a financial mess that Labour will struggle to turn in round in the 5 years they’ll have. But are currently enabling their rich donors to make plenty of money that they will then squirrel away into tax havens so they can give the party lots of money for the following election. Because it’s all about power. Not what you do with it when you have it and certainly not with a view to helping the workers of this country, or the sick and disabled.

Yes my thoughts exactly . Make it a total mess so Labour will be unable to do anything. This is just lining the richest pockets as usual and no help whatsoever for the people that really need help . Where is the money going to come from for social care and the NHS? Although there will be no NHS in a very short few years . We are all doomed ( unless you are rich of course !)

GrannyGravy13

Whitewavemark2

The only thing that would attract workers in the financial sector is for the U.K. to re-join the EU.

London is still No.2 in the world behind New York in the list of Financial Capitals, the closest EU one is Frankfurt at No.23

(Source - I just googled)

What has happened is that the business has dispersed to Frankfurt, Paris, Dublin, Luxembourg etc etc, I’ve no idea of the affect of this, nor how much London has lost.

GrannyGravy13

Whitewavemark2

The only thing that would attract workers in the financial sector is for the U.K. to re-join the EU.

London is still No.2 in the world behind New York in the list of Financial Capitals, the closest EU one is Frankfurt at No.23

(Source - I just googled)

So if we are doing so well why is it so important to remove the cap on bankers' bonuses right now?

How about some personal responsibility if things go wrong as has been widely forecast? This is a massive experiment with many indicators that this is have to have repercussions that could last for decades. It's in everyone's interest that their ideas pan out, but they can't say that they have not been warned about the most likely outcomes. It's never worked before so why now? If it all hits the fan maybe there should be some legal comeback on those who are responsible??

They keep saying it’s a ‘radical’ approach but it just looks like typical Conservative policy to me. More reckless than radical.

GrannyGravy13

DaisyAnne

Just heard Sir Rocco Forte say "never have I heard a new government hit the ground running like this." How can the BBC ask a man who thinks of democracy in this way, what his opinion is?

Denmark may be doing okay but there is certainly something rotten in our state.

Why? Because everyone is entitled to an opinion.

Everyone is entitled to an opinion; they are not entitled to their own facts. This is not a new government; they have been in government making the mess we are in for 12 years. They have not been democratically elected to do this but have turned on its head the manifesto they were elected on.

Equally, everyone is entitled to their own opinion, but we are entitled to tell them just what we think of it. The man is an idiot and if you agree with his nonsense, I am entitled to have an opinion on that too.

I still don't understand where all this 'growth' that's going to boost the economy is coming from.

Perhaps someone could explain how a domestic ,market comprising primarily people who can't afford to buy very much apart from heating, eating and housing, is going to 'boom'.

If they're expecting the rich to do it by spending in the UK and trickling down their wealth those 'rich' are going to have to do one heck of a lot of spending..

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

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"?