The IMF has stepped in to warn the U.K. government

Redwood is a headbanger. Like most of the Brexity tory MPs.

Love the way the very few Tories daring to put their heads above the parapet, are blaming Labour! As one Tory spin doctor says: there's nowhere else to turn!

CvD66

Love the way the very few Tories daring to put their heads above the parapet, are blaming Labour! As one Tory spin doctor says: there's nowhere else to turn!

Remainers seem to be getting some blame, too.

Would you believe it...Dozy D Ross leader of the Scottish branch of the con ..servatives wants Nicola Sturgeon to give the same tax cuts to Scots ......lol .Our tax was restrucured to benefit people who need it not high earners .

Dougie 3 jobs Ross needs to understand that the Scottish public are the people who VOTE the SNP into power because we trust then not to get us into the mess that Westminster has specialised in for a very long time

This is getting more and more frightening as the day goes on , you wonder if Kwarteng actually got some guidance from the The Bank of England or anybody else or just had a brainstorm moment and thought any of this was a good idea? ? Apparently he done a PhD in Economic History at Cambridge? I think he may go down in history as the chancellor who made the Biggest economic gaff in history.

Apparently he done a PhD in Economic History at Cambridge?
62Granny his thesis was on:

"Political thought of the recoinage crisis of 1695-7"

Perhaps he's wanting to make his name to go down in economic history. The sooner the better it would seem!

@BestforBritain tweeted this yesterday

Best for Britain
@BestForBritain
·
19h
“Senior gov't officials warned the PM and the Chancellor that [the Budget] would trigger market volatility and cause a shock to the economy. Officials who advised against Friday’s plans included civil servants in the Treasury and Downing Street, as well as Simon Case.”

So, if the Bank of England hadn’t stepped in some pension funds would have crashed. And some Tory supporters/ MP’s are saying everyone’s over reacting

I run several online shops and almost all my trade is international. Ive had to raise my prices across the board and hope my customers will not notice. However my shops are closed for vaction until end September so it was a good time to do it. Increased costs have to be passed on to end users.

I doubt if Kwarteng had a brainstorm moment. He co-authored a book in 2012 "Britannia Unchained" with Truss and others, advocating what he is doing now. They've spent ten years waiting for this moment to carry out their ghastly experiment.

I think that is exactly what it is, growstuff - an experiment.

It's a terrifying way for a Chancellor of the Exchequer to behave.

What puzzles me is why? No matter how incompetent you feel Liz Truss is, she is surrounded by economic experts who must have told her the outcome of this folly. The only logical reason I can find, is that this a deliberate " smash and grab", designed to allow the ERG to make a big a killing as possible before the gig is up. They know the days are numbered and the chances of winning the next election are slim at best. Disaster capitalism in action.

See my post at 15.54 Normandygirl

Head in hands.

We move from a cheat and a liar to someone who is both ruthless and reckless.

We just need rid of them once and for all.

She sacked the chief adviser to the Treasury and appointed one of the Tufton Street cronies. They're living in a different world and not listening to sane voices.

They've been egged on by some of the media too. The "Daily Mail" headline was something like "And now a real Conservative budget" (or something) and a journalist in the Telegraph was praising it.

It’s like a coup in a banana republic….

The budget has to be reversed. It has caused the crises, the only possible thing to get us back to a more even keel is to go back to square 1.

But even then I think the market would still be jittery imo.

Truss and Kwarteng must resign. We need a GE.

MayBee70

It’s like a coup in a banana republic….

Seen today

IMF to UK WTF!

Whitewavemark2

The budget has to be reversed. It has caused the crises, the only possible thing to get us back to a more even keel is to go back to square 1.

But even then I think the market would still be jittery imo.

Truss and Kwarteng must resign. We need a GE.

But ‘it isn’t a budget’! Was very disappointed with Ken Clark on Sky News who seemed to be defending Kwarteng. And, like a lot of other Tory supporters kept saying how much he liked him.

C4 reporting that the IMF are in talks with Truss and Kwarteng.

MayBee70

Whitewavemark2

The budget has to be reversed. It has caused the crises, the only possible thing to get us back to a more even keel is to go back to square 1.

But even then I think the market would still be jittery imo.

Truss and Kwarteng must resign. We need a GE.

But ‘it isn’t a budget’! Was very disappointed with Ken Clark on Sky News who seemed to be defending Kwarteng. And, like a lot of other Tory supporters kept saying how much he liked him.

I think Kwarteng is the monkey, she’s the organ grinder.

It’s time for a GE so we, the people, can decide whose policies we support. Truss has no mandate from the public for the implementation of these crazy ideas.

Whitewavemark2

One thing that the BoE is worrying about are the pension trusts which are under enormous pressure.

Yes, this is truly worrying for our age group. And if the IMF had not intervened, it might well have felt like Armageddon, despite what someone said on GN this morning.

And same for our ACs and GCs- who see their mortage now refused, or going up hugely, just as energy and other prices continue to rise and rise.

An Australian journalist yesterday, "Having shot itself in both feet with Brexit, sorry old England is moving on to knee-capping."

We must be the laughing stock of the world!