Tomorrow's Front Pages - Friday 30 September 2022

So benefits cut to provide tax cuts for the wealthy. You really couldn't make it up.

Next election, people below pension age who don't earn more than £150k and vote Conservative seriously need their bumps feeling.

They want to curb all benefits (including top-up benefits, for the low paid working, and Pension Credit), by linking increases to wages, instead of the CPI. This will provide £5 billion a year towards tax cuts for the wealthy....?

Truss and Karteng are attending a meeting with the OBR this morning,

'The watchdog offered to prepare a draft forecast in time for the mini-budget but it was not taken up.

A group of MPs has called for the forecast to be released "immediately".

Meanwhile, Labour have shot into a 33% lead over the Tories.

www.dailymail.co.uk/news/article-11264999/Liz-Truss-left-reeling-Labour-soaring-record-33-point-poll-lead.html

www.bbc.co.uk/news/uk-politics-63080164

All in line with their ideology.

Small state individualism.

Truss has no mandate for this shift of policy - to take benefits away from the poor to fund tax cuts for the rich.

I always think that political parties don't win elections or lead poles. It is the other party who loses because their actions are so unpopular. Labour at the moment are the lesser of 2 evils. A while back it was the opposite, Corbyn was so unpopular that the Tories raced ahead in popularity.

From the The New York Times.

“The Pound’s journey indicates a decline in economic and political influence that accelerated when Britain voted to leave the E.U. Britain already has the worst performing economy, aside from Russia, in the 38-member O.E.C.D.”

Well Liz Truss and KK have handed conservatives on a plate to labour, unless a miracle happens, I don't know where their thinking was in the budget which they are still defending. Trouble is Labour is just as bad with their leaders, can't think of a half decent one. Plus they are against the working man now. I'm trying not to think about it for a month, what will be, will be.

Allsorts

Well Liz Truss and KK have handed conservatives on a plate to labour, unless a miracle happens, I don't know where their thinking was in the budget which they are still defending. Trouble is Labour is just as bad with their leaders, can't think of a half decent one. Plus they are against the working man now. I'm trying not to think about it for a month, what will be, will be.

How are Labour 'against the working man' Allsorts?

Whitewavemark2

Truss has no mandate for this shift of policy - to take benefits away from the poor to fund tax cuts for the rich.

Goodness me, Wwmk2. How quaintly old fashioned you are. Who cares about mandates these days? ?

As a labour member I think there probably was a debate that labour had lost touch with the working man (Red wall seats for Johnson) but I think that demonstrably not true anymore. As much as I supported him I wasnt sure that Starmer could make the labour party electable but he has.

I bloody do!!?

But Allsorts says that Labour is now against the working man, Galaxy.

I'd be interested to know why s/he thinks that.

Especially as Starmer's conference speech featured 'workers', 'working people' and the like, about every thirty seconds ?

Is this the "cunning plan"!

The country is in such a mess who in their right mind would want to take over.

Newspaper headline this morning was Truss “wasn’t for turning”. Thatcher she is not!

I was listening to a financial analyst this morning who said the pound was rising. He also said it isn’t the tax cuts that have caused this panic but the markets testing the resolve of Truss and Kwarteng. He said the whole of the west are in the same boat and it’s become political instead of analytical. Incidentally I have often seen him discussing international and national finances and he doesn’t strike me as a government supporter.

I don’t actually understand it all - talk of money markets and shorting the pound.

Odd that the markets have never tested any other politicians' resolve like that before?

What was his conclusion, tickingbird ? Did our disastrous duo pas the test?

'Shorting' is, unbelievably, a legal operation.

The 'shorter' identifies a stock or currency that they think is going to fall in value. They then borrow as much as they can of it and sell it on the open market. When it has dropped in price they buy it back at the lower price, return, or pay back the stock or currency they borrowed and keep the difference in price between what they sold and bought at.

The man, Odey, who made a considerable profit by shorting the £ on Monday did the same thing when the value of the £ dropped on the result of the 2016 referendum.

Shorting shares as a result of insider knowledge is fraudulent. Shorting currency isn't.

Odd that the markets have never tested any other politicians' resolve like that before?

What was his conclusion, tickingbird ? Did our disastrous duo pas the test?.

Apparently they have done this before. He did mention some previous occasions but I honestly can’t remember.

As for the duo passing any test he made no prediction. He was discussing the situation not individual politicians per se.

Anyhow, it all pales into insignificance if Putin carries out his threat to nuke us for attacking Russia seeing as he’s annexed 4 regions of Ukraine and declared them Russian. If there’s any fighting on what he now claims is Russian soil he’ll go nuclear. I’m more concerned about that.

Putin is threatening to use tactical nuclear weapons in Ukraine. Which is extremely serious, but it's not 'us'.

I'm sure that Washington has the co-ordinates of the Kremlin and all of Putin's hideouts and I'm sure that Putin knows that. I don't think that he wants to die yet.

No he isn’t threatening that at all.