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Original poster

Is the Chancellor about to crash the economy?

389 replies

Startingagainandagain · 09/01/2025 18:02

I will start by saying I voted Labour, but I am increasingly concerned about what the government has done so far.

Today there are warning that food prices could shoot up, the pound is going down, there were big jitters on the bonds market and government borrowing is higher than planned.

More generally Reeves seems to have spooked businesses and they have no will to expand or employ more people.

I agreed that the Tories left a total mess.

But Labour seems to just go from bad to worse and I am really starting to wish she could be replaced by someone more competent to restore some confidence.

OP posts:
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twistyizzy · 09/01/2025 18:13

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

Trying to cancel discussion by calling people a Tory bot is how you turn voters to Reform etc

RandomButtons · 09/01/2025 18:12

I do t pretend to understand all of this, but this report says that’s whilst things aren’t great, it’s nothing like the Truss effect. The pound is pretty stable still.

news.sky.com/story/money-blog-personal-finance-consumer-mortgage-pound-blog-live-cheap-eats-sky-news-13040934

Original poster
Startingagainandagain · 09/01/2025 18:12

'@RitaFromThePitCanteen · Today 18:06

Yes I very much believe you voted Labour and are not at all a Tory propaganda bot.'

Feel free to check my posting history. You will see my long standing support for Labour on this site and many threads I have posted on other topics in the past few years.

It is really infantile to try to shut down a conversation by saying some must be a 'Tory bot' if they express worries about the economy.

OP posts:
GasPanic · 09/01/2025 18:12

This was discussed extensively on the other thread that was posted yesterday.

Yes things are starting to look ugly. the 10 year gilt almost went past 5% today and the £ has taken a hit.

It's a shot across the bows to Labour to keep their house in order from the markets. They really do not have a great deal of scope to borrow money.

It's either increased taxes or decreased spending. If they try to borrow then the markets are going to have something to say.

lookingfortheadult · 09/01/2025 18:11

Dismaljanuary · 09/01/2025 18:09

It's not looking good is it.
A man said" :they taxed employability, not profitability, corporations tax is how to tax ".

This is a very clever quote.

lookingfortheadult · 09/01/2025 18:10

@Startingagainandagain I agree. To not have business on your side is dangerous. I work for a large organisation that has already cut huge numbers of jobs and this will be extended in 2025. SMEs which are critical to growth will find it much more difficult even with the improved thresholds.

I worry a lot about the delivery of Labours intentions. I don't mind paying more tax (although I think there are other places they should go first vs. working people) but I have very little faith that the money will be spent to truly deliver change. I don't think they have the right people in roles to deliver such change.

I also have no answer on an alternative solution. I think Kemi B missed an opportunity to position herself as something different by simply going straight into attack and defend without truly acknowledging the mess left or showing any accountable. Politics just feels like a words game, who can shout the loudest and the everyday person suffers in the end.

ChardonnaysBeastlyCat · 09/01/2025 18:10

She’s not about to.
She already did.

Original poster
Startingagainandagain · 09/01/2025 18:10

'Liz Truss and her clown show crashed the economy. We're still paying for it.'

Of course they did.

But Reeves can't just carry on blaming them forever and just making things even worse with her own actions.

We really need competence right now and I really don't think she is the person for the job from what I have seen so far. She is losing everyone's confidence.

OP posts:
Dismaljanuary · 09/01/2025 18:09

It's not looking good is it.
A man said" :they taxed employability, not profitability, corporations tax is how to tax ".

FiveGoMadInDorset · 09/01/2025 18:07

SerendipityJane · 09/01/2025 18:05

Liz Truss and her clown show crashed the economy. We're still paying for it.

Be careful, she will send you a cease and desist letter as well

RitaFromThePitCanteen · 09/01/2025 18:06

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

twistyizzy · 09/01/2025 18:06

SerendipityJane · 09/01/2025 18:05

Liz Truss and her clown show crashed the economy. We're still paying for it.

Using the same metric as Labour used against Truss, Labour have already crashed it!

SerendipityJane · 09/01/2025 18:05

Liz Truss and her clown show crashed the economy. We're still paying for it.

AgnesX · 09/01/2025 18:03

Like who? Do you want Jezza back?