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

The BoE has stepped in to try to calm the markets by buying government bonds.

It states that if market volatility continues it will bring material risk to the UKs financial stability.

Starmer has called for Kwarteng to review his tax cutting budget with some urgency.

I'm truly worried. I'm 71 still have a mortgage and the deal runs out soon. Never mind me, I can just manage, but what about those poor first time buyers about to get their dreams crushed? and all of us considering moving and so on -

chaos!

I have friends on basic benefits. Its all so wrong, wrong, wrong yet nothing seems to stop this madness.

They surely must do something before the conference next week?

Whitewavemark2

Robert Peston

This from IMF is humiliating for Kwarteng and Truss: “Given elevated inflation pressures in many countries, including UK, we do not recommend large untargeted fiscal packages at this juncture, as it is important fiscal policy does not work at cross purposes to monetary policy”.

The IMF is saying exactly what Richard Murphy has been saying for the past week or more. Ether they read his blog, or Richard isn't a lone voice?

The Bank of England's strategy and the Chancellor's are in direct conflict with each other. The BoE's is meant to be anti-inflationary and the Chancellor's is inflationary. ?

www.taxresearch.org.uk/Blog/2022/09/23/the-bank-of-england-and-kwarteng-are-at-war-with-each-other-that-can-only-end-in-tears/

I have also noticed that many British retailers will no longer sell to overseas customers and was wondering why. Being as we pay the delivery costs it seems unreasonable. Not good for the economy.

Robert Peston

This from IMF is humiliating for Kwarteng and Truss: “Given elevated inflation pressures in many countries, including UK, we do not recommend large untargeted fiscal packages at this juncture, as it is important fiscal policy does not work at cross purposes to monetary policy”.

This is a very serious situation. Surely someone in the Tory party has some influence? I also think that there must be personal culpability for permanently damaging an entire country in such a reckless foolhardy way.

The pound has fallen even further.

As a lifetime Conservative voter I am seriously unimpressed at the moment. When they were forcing Johnson out I was thinking at the time be careful what you wish for compared to this he was moderate.
They were also warned by Rhisi Sunak what might happen
I am no where as enlightened as some on here I know the dollar is very strong and the euro is also struggling as well but this seems utter madness

It really is a disaster. An economic policy written on the back of a beer mat after a good lunch! A winter of discontent is looming.