The BoE has had to step in again to prop up the U.K. economy, because the markets simply do not believe that Kwarteng or Truss know what they are doing. I suspect too, that the OBR report is showing an unfounded gap between spending and resources.
An damning article in Bloomsbury traces the UK’s decline from the time of Brexit to now and it makes for alarming reading.
We can no longer afford Brexit either.
Unless we have a competent government that stops this decline our future is looking bleak indeed.
Big NO to bringing back lying charlatan Johnson.
We need a general election and a complete change of government. The whole current lot are rotten to the core and no good for the UK.
Yes, let's bring back Boris. We all love his waffle and bluster. Then the UK can save the planet with Net Zero. It will only cost the UK economy £3 trillion. Makes £6 billion look like small potatoes, but let's not bother about that. And just in case you're wondering, that's
£3,000,000,000,000
Then everything will be tickety boo.
Won't it? Or won't it?
Surely the point about interest on the reserves is that it is to ensure an accounting cost for money that might be used otherwise and thereby gain a return. It's the opportunity cost of stashing away reserves to meet contingencies (rather like maintaining military resources that might never be used but are needed in case they are put to use). If Kwarteng abolished the reserves interest he is effectively saying stashing cash carries no opportunity cost which is untrue. But it might on paper get Truss out of the hole she has dug for herself. The better answer of course is for the Tories to get rid of her and Kwarteng and appoint a grown up team.
Dillonsgranma
This new prime minister and her friend Kwarteng have made an unholy hash of things. I think a vote of no confidence would be in order and bring back Boris and Rishi. Immeasurable damage has been done to our economy by these people . I’m furious
Are you forgetting why Johnson had to go? Or that Sunak was one of the MP’s that could no longer work with him?
A bit reminiscent of 2008 when mortgages were issued on no money as surety. Tories have been so destructive: firstly, nobody much cared about whether or not we were in the EU and then Farage & some Tory fanatics came along and stirred, and we know what happened next. Any shopkeeper or cafe owner that I speak to now outline the massive hike in the cost of supplies from mainline Europe. Johnson's government paid for someone to silence the BBC on Brexit. But it is clear it was and is a disaster. It needs to be brought to the forefront of national and financial debate.
This new prime minister and her friend Kwarteng have made an unholy hash of things. I think a vote of no confidence would be in order and bring back Boris and Rishi. Immeasurable damage has been done to our economy by these people . I’m furious
Yes Prime Minister
The Home Secretary has been cut out of the planning for immigration.
Mistakes are made but to deny that there have been any and to cast the blame on everyone that they can think of is the essence of this catastrophe. However, they were taught to lie by the supreme master of lies - Boris Johnson. Strange how he supported Truss! Or could it be that he knew she would make a hash of things. After all if you have been ousted out you don’t want anyone to succeed you that is too successful.
Katie59
Whitewavemark2
I loved the King’s comment as he greets Truss on their weekly audience.
“Back again. Dear-oh-dear”
He speaks for us all
???Did the King really say that?, he needs to be more careful, spoken in jest I’m sure but disapproving to me.
Yes, it is on the BBC site.
I thought it was hilarious, of course it wasn’t a political comment, but none-the-less so apt.
Whitewavemark2
I loved the King’s comment as he greets Truss on their weekly audience.
“Back again. Dear-oh-dear”
He speaks for us all
???
Did the King really say that?, he needs to be more careful, spoken in jest I’m sure but disapproving to me.
I loved the King’s comment as he greets Truss on their weekly audience.
“Back again. Dear-oh-dear”
He speaks for us all
???
Yesterday morning I listened to Mogg pushing back against the suggestion that the market turmoil was down to Tory mini-budget. I really couldn’t make sense of what he was saying and wondered if I was being dim.
Last evening on channel 4 news I was reassured that I wasn’t so dim after all
Financial Times US editor, described Jacob Rees-Mogg’s absurd & condescending attempts to deny that the mini-budget was the cause of all the economic turmoil as “bollocks”.
??
nanna8
Will the opposition be any better ? Just wondering. Might be more of the same. I sincerely hope not,though. I am not sure about the chaos which might ensue with a vote of no confidence, it sounds as though that would be a very tricky situation.
Honestly, only someone not living the experience would say that.
It is relentless. Our economic reputation has hit rock bottom, and trust has gone.
The foreign press are scathing in their opinions, describing the U.K. as an “emerging market” and “basket case”
I notice CNN are now running an article outlining our institutional racism, timelining significant events in our history, and describing how we continually “other” .
The latest of course Bravermans “dream” .
If we aren’t “othering” minority groups we are doing so to class.
We have become a nasty insignificant outlier with nothing to commend us to the world.
nanna8
Will the opposition be any better ? Just wondering. Might be more of the same. I sincerely hope not,though. I am not sure about the chaos which might ensue with a vote of no confidence, it sounds as though that would be a very tricky situation.
We have the worst government that I can remember. And they’ve now excelled themselves by replacing Johnson with someone even worse which no one thought would be possible. Of course the opposition will be better. It is a government and a party in meltdown,mainly to do with individual MP’s acting in total self interest and supporting causes that they don’t actually believe in just to further their own careers. Or, in the case of Truss following an ideology that she does believe in because she can’t comprehend that she is destroying the economy of the country by doing so. Keir has consistently supported the government when he has felt it is in the best interest of the country, even though he has sometimes been criticised for doing so. I have total faith in him. And he has a great team around him, too.
Will the opposition be any better ? Just wondering. Might be more of the same. I sincerely hope not,though. I am not sure about the chaos which might ensue with a vote of no confidence, it sounds as though that would be a very tricky situation.
rosie1959
Did read something similar Maybee but they would have to change the rules for this as at the moment they cannot have a vote of no confidence within a year. Mind you anything is possible at the moment.
The 1922 committee rules say that tory MPs can't have a no confidence vote on their leader within a year of the last one, but they didn't have a no confidence vote in Johnson, did they, so I don't see how that rule applies.
But the opposition can call for a no confidence in the government vote. They're only likely to do that if they think they would win it. Which would, of course, mean tory MPs voting with them. The question now would be whether enough tory MPs are sufficiently peed off with Truss & co to do it, because many of them are likely to lose their seats in the GE that would result if the vote were won.
Did read something similar Maybee but they would have to change the rules for this as at the moment they cannot have a vote of no confidence within a year. Mind you anything is possible at the moment.
I may have misunderstood this but on ITV News just now I think they said that some Conservative MP’s are prepared to support a vote of no confidence even if it means losing their seat. They realise the party can’t go on like this and they can’t elect a new leader.
The Conservative party cannot be got rid of until they choose to hold general election the latest date this can be is January 2025.
So let's just hope they manage to sort everything out little the average person can do about the facts.
I may be wrong but I don't think there is anyway they can be just removed regardless of public opinion.
How much more damage are the Tories going to inflict before we can get rid of them?
GrannyGravy13
Fleurpepper
Blood banks on verge of collapse due to shortage of staff. This is getting truly serious!!!
According to the articles on the internet blood banks are low due to people not donating.
The lines were overwhelmed today since it was announced, appointments filling up quickly.
It’s both factors GrannyGravy13, here’s the bulletin from the Blood Service.
www.blood.co.uk/news-and-campaigns/news-and-statements/amber-alert-issued-on-blood-stocks-existing-o-neg-and-o-pos-donors-asked-to-make-appointments/
Fleurpepper
Blood banks on verge of collapse due to shortage of staff. This is getting truly serious!!!
According to the articles on the internet blood banks are low due to people not donating.
The lines were overwhelmed today since it was announced, appointments filling up quickly.
Fleurpepper
Which means that operations which were finally booked for knees, hips, and all sorts of debilitating conditions, but not 'emergencies' - after years of waiting and total shut-down due to Covid, will now be cancelled, AGAIN.
I’ve just checked, this does apply to England only. Wales stocks are good, the number of days is online, but credit to Scotland for their graphics telling us how much stock they have, it’s simple but so effective!
www.scotblood.co.uk/about-blood/current-blood-stock-levels/
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