Osborne warned against punishment Budget

[claig]

The final straw, the last throw of the dice, the end is nigh.

Osborne escalates Project Fear. Alastair Darling, fresh from the Scottish Referendum, will be by his side. As they try to scare the people on advice from their most senior advisers who have nothing left but to throw caution to the wind, the result will just be laughter as the British sense of humour mocks the scaremongers and strengthens their resolve to say

"Oi, Osborne, no"

"GEORGE Osborne has been warned against using a “nuclear bomb option" in the Government's Project Fear campaign after it was claimed that the Chancellor intends to panic the markets to get a Remain vote."

www.express.co.uk/news/politics/679878/Osborne-warned-punishment-Budget-panic-markets-Remain

If the people win and vote out, if it turns out to be a rout, I think Cameron may be gone before sundown, but Osborne will now probably follow soon after.

This is a new broom, the British people are going to sweep up.

[Justchanged]

Claig, would you please explain how Brexit is going to deal with the current hole in public finances? Even after the years of austerity, the government is spending billions more than it earns. Osborne has been relying on economic growth to close the gap.

Brexit supporters admit that the economy will suffer (nosedive) in the immediate post-Brexit years. Especially as we will have worse trading terms than now with the destination for 40 % of our exports. There will be falling tax revenues, rising welfare spending and higher inflation (due to higher import prices as the pound falls). At the same time Brexit are promising to both match all EU spending into the UK and to cut taxes, increase spending etc. It does not add up.

I know that you think there will be Nirvana in a country ruled by Johnson and Farage but I struggle to see how so many people can be lied to about what Brexit means.

[OrangesandLemonsNow]

I struggle to see how so many people can be lied to about what Brexit means.

You think Remain are being truthful?

[Winterbiscuit]

Predictably, the Remain side are still making this all about money.

[claig]

'Claig, would you please explain how Brexit is going to deal with the current hole in public finances? '

By removing Osborne from his role as ScareMonger-in-Chief

Not one of the 57 Tory MPs who support Brexit treat Osborne's latest intervention with anything but contempt or believe a word of it.

Osborne is trying t get some of the public to believe it because that is all that Remain have got left - Project Fear.

[ForHarry]

I had a real and rare feeling of rebellion hearing Osborne's plan this morning. Even I would be out in the cold on a protest and I gave up such things decades ago. (I took to humming Les Miserables and thought of claig on here.)

It's a wrong move and his own back benchers have responded saying many would not vote for such a punitive budget : see Guido Fawkes blog.

He has lot the plot. Not by saying there will be ramifications but by gleefully threatening essentially a whole class punishment.

[GiddyOnZackHunt]

Osbourne has seen a chance to try and fill some of the epic holes in his 'financial strategy' left by recent rebellions and his own incompetence. His 'pledges' to balance the books continue to be missed. The debt keeps piling up. He's seen a chance to claw something back. And hopefully rescue his own leadership ambitions.
I'm just horrified by Alistair Darling joining in.

[Chalalala]

Osbourne is obviously trying to scare people, but his question is valid.

Everyone (including the Brexit side) agrees there will be an economic price to pay, if only in the short to medium term. So how will they deal with the hole in public finances? Who will pay more taxes, or what services will they cut? Or will they borrow more?

[GiddyOnZackHunt]

Chala the question of a 'hole' in public finances is one Osbourne has failed to solve in 6 years. More of the same is pointless in or out.

[CoolforKittyCats]

Don't expect anyone to answer Chalalala, they've been studiously avoiding questions like this for months

Of course Remain have been answering all questions.

[BritBrit]

This is just sheer desperation from George Osborne, 56 Tory MP's have said they would never vote for it & so have Labour so it is irrelevant. If there is an economic issue (which I don't think there will be) & cuts are necessary there are many things leaving the EU would let us cut or change to create money e.g. charge immigrants for using the NHS, stop immigrants claiming tax credits (it is £5 billion a year), reopen UK fisheries to create more jobs, sign our own trade deals to increase trade with non EU nation etc

Osborne is not fit to be chancellor such over the top scaremongering

[AnnaForbes]

Chalala, not everyone agrees. Nobody knows 100% what the short medium and long term economic effects are of a Brexit. Even Corbyn has cast doubts on claims made that Brexit will lead to recession.

We have had a hole in our finance since the days of Gordon Brown. The EU is the slowest growing trading bloc in the world (apart from Antartica) so pinning our hopes on an ever less significant bloc of countries wont help in the long term. Each year that goes by, our trade with the EU reduces.

Osborne will pile his failure to manage the economy onto Brexiters. We can never solve our black hole deficit because we have no idea how many people will be here demanding our public services. We also have no idea when our rebate will end (it is temporary and not fixed) or our subs to EU will increase. Financially, staying in the EU is a jump into the unknown.

If there is a price to pay however one has to offset this with the enormous advantages with not being ruled by the EU and the loss of sovereignty. Money isn't everything, liberty is priceless.

[Chalalala]

If there is a price to pay however one has to offset this with the enormous advantages with not being ruled by the EU and the loss of sovereignty. Money isn't everything, liberty is priceless.

See, I can respect this argument. What I can't respect is the Leave campaign acting all outraged when Osbourne says someone will have to pay more taxes, or have their benefits cuts, to pay for the lost tax revenues. They're Tories. Austerity is what they do.

[GiddyOnZackHunt]

Chala but dressing up ideology as a warning is pathetic. Osbourne has been unable to tell what's going to happen with the economy for 6 years. He's a fine one to tell us what'll happen after the vote. He has and has never had a clue.
He's only interested in himself. Always has been.

[Winterbiscuit]

no actual suggestions of what tangible benefits this will confer

Because the benefits of a Leave vote aren't measured in money?

[eyebrowse]

People are saying that MPs will not allow George Osbourne (or whooever is the chancellor) to pass raise taxes and cut spending but there will be no money so I assume that teachers and doctors and nurses just won't get paid as happens in failing states (usually in African countries or South America)

[GiddyOnZackHunt]

Of course there's money. For HS2. For bailing out pensions that Philip Green rendered worthless, for building the most expensive nuclear power station in the world. For bombing Syria.

[unexpsoc]

Absolutely livid at the way this was presented. What an absolute pack of dumb shits. Truly.

Yes, get your message out - but don't do it like this. A man who loves austerity standing up to tell people that if they don't vote his way he'll get more austerity? What were they thinking?

George "I can't be wrong" Osborne at his smug arrogant best.

[Letseatgrandma]

People are saying that MPs will not allow George Osbourne (or whooever is the chancellor) to pass raise taxes and cut spending but there will be no money so I assume that teachers and doctors and nurses just won't get paid

Really?

[TooMuchMNTime]

Have I understood this right? (I've been out tonight and might be a bit drunk). He's actually proposing a budget immediately post a possible Brexit? Without waiting even six months to see what happens?

Has he been drinking?!

[GiddyOnZackHunt]

Probably a swift rum and coke...

[bridgetoc]

Truly pathetic from Osbourne, and it's not going to work because most people aren't that dim!

[claig]

TooMuchMNTime, yes you have got that right. Of course it is just Remain b*llocks and it is now obvious that Osborne is finished.

'Osborne is FINISHED' Furious Tory MPs react to Chancellor's 'emergency Brexit budget'

www.express.co.uk/news/politics/680227/Tory-MPs-claim-Chancellor-George-Osborne-finished-reaction-emergency-Brexit-budget

They must be regretting they ever allowed the people a vote. In just over a weeks' time, a lot of them will be "finished", their credibility in ruins.