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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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ThisOldThang · 10/01/2025 22:20

That chart has pro Brexit on less than 50% in 2016, so it looks like a load of remainer bollocks to me.

Lonelycrab · 10/01/2025 21:36

@ThisOldThang Honestly what a load of old rot

All recent polling around Brexit and the rights and wrongs of it has shown that the majority now see it as a massive mistake (of course-duh!) and would now choose to rejoin, given the chance.

Slow handclap, suckers.

As I said previously, it’s the biggest economy trasher in living memory. I’d hazard a guess that most of the posters trashing Labour on this thread voted for that trashing too. Sick man of Europe 2.0…

Is the Chancellor about to crash the economy?
HellsBalls · 10/01/2025 20:59

ThisOldThang · 10/01/2025 20:34

There could very well be full on riots and the burning of parliament if they did that.

There's a reason Labour have shut up about Brexit. They know that voters are still very, very angry at the way politicians attempted to overturn the referendum and deliberately fucked it all up with the Benn Amendment.

I don’t believe that would happen, at all. Labour have shut up about Brexit because it’s a done deal.
Allowing FoM for young people is not a reversal of Brexit, or anything near it. They can easily combine it with a residence permit, no benefits’ rules, compulsory health insurance etc.
Switzerland has FoM with the EU, plus the health insurance requirement, no recourse to public funds etc, and it works perfectly well. If you can’t find a job in 3 months, out you go. The difference is, they actually enforce the rules.
It’s what the UK should have done in the from the beginning, implement the rules allowed, and publicize it well, rather than just say ‘nothing we can do, EU’. We were way too Liberal, eventually leading to Brexit.
Similarly, if Labour don’t grow a pair, they will lead to Reform. It’s basically inevitable.

Clavinova · 10/01/2025 20:55

HellsBalls · 10/01/2025 19:25

Freedom of movement for young people ( under 26? Under 30? ) would be a massive boost for the UK.

They don’t need to sell it really. The demographics and, let’s say reality of Brexit, have changed dramatically since 2016, would give it easy passage.
Also, Labour have a massive majority. They need to say ‘fuck it’ and take one for the good of the country.

Around 60% of EU citizens who came to the UK pre-Brexit were aged under 30.

BIossomtoes · 10/01/2025 20:38

It’s amazing how many people running the government down reckon they voted for it. They clearly didn’t do it with much conviction.

ThisOldThang · 10/01/2025 20:34

HellsBalls · 10/01/2025 19:25

Freedom of movement for young people ( under 26? Under 30? ) would be a massive boost for the UK.

They don’t need to sell it really. The demographics and, let’s say reality of Brexit, have changed dramatically since 2016, would give it easy passage.
Also, Labour have a massive majority. They need to say ‘fuck it’ and take one for the good of the country.

There could very well be full on riots and the burning of parliament if they did that.

There's a reason Labour have shut up about Brexit. They know that voters are still very, very angry at the way politicians attempted to overturn the referendum and deliberately fucked it all up with the Benn Amendment.

Badbadbunny · 10/01/2025 20:10

HellsBalls · 10/01/2025 19:19

Why are people saying farms wil be bought by China and, of all people, Russia?
Farming doesn’t make massive profits, and anyway very easy for the government to pass a law to prevent this.

Chinese and Russians are buying up everything else, i.e. power supplies, utilities, manufacturing industry, residential property, retailers, etc. Why wouldn't they want to buy farmland? It's not about making short term profits - the billionaires are rich enough - it's about long term growth and control.

HellsBalls · 10/01/2025 19:25

wonderstuff · 10/01/2025 18:08

It’s genuinely a very difficult position, I’m not worried about Reeves, but UK more generally is at risk of decline relative to others globally I think. I think the best thing she can do is improve trade with the EU, the cost of that will be freedom of movement for young people and that seems like a good trade to be honest. Not sure how they sell this, but I do think Labour and Reeves are the least worst people to have in power at the moment.

Freedom of movement for young people ( under 26? Under 30? ) would be a massive boost for the UK.

They don’t need to sell it really. The demographics and, let’s say reality of Brexit, have changed dramatically since 2016, would give it easy passage.
Also, Labour have a massive majority. They need to say ‘fuck it’ and take one for the good of the country.

HellsBalls · 10/01/2025 19:19

Why are people saying farms wil be bought by China and, of all people, Russia?
Farming doesn’t make massive profits, and anyway very easy for the government to pass a law to prevent this.

Startingagainandagain · 10/01/2025 19:16

'@inthetrenches1 · Today 18:39

These types of posts just smack of rival party tactics. They’re in here all the time. And silly petitions being set up by opposition parties about things they don’t like. They’re all designed to infiltrate the consciousness and destabilise our country. In fact… Elon, is that you?'

I have replied to these silly 'bot' nonsense several times and it is just getting tedious.

It really is disrespectful to everyone on the thread who is managing to have a topical debate and share different views.

The concerns about the economy are all all other the papers and tv today. Are going to say that this is Musk's doing or Russian bots controlling them too?

Keep the tin hat if you want but let the grown ups have their discussion in peace.

OP posts:
MichaelandKirk · 10/01/2025 18:44

Labour need to get someone in who knows what they are doing. She is out of her depth and quite honestly doesn’t look well. Thing is I cannot think of anyone who has any sort of experience within Labour?

Anyone who has run a successful company, got some experience? Not this silly women who seems to be playing with the economy with catastrophic effect,

Dreamingofgoldfinchlane · 10/01/2025 18:40

wonderstuff · 10/01/2025 18:08

It’s genuinely a very difficult position, I’m not worried about Reeves, but UK more generally is at risk of decline relative to others globally I think. I think the best thing she can do is improve trade with the EU, the cost of that will be freedom of movement for young people and that seems like a good trade to be honest. Not sure how they sell this, but I do think Labour and Reeves are the least worst people to have in power at the moment.

The best thing Reeves can do for the UK is resign and let someone else have a go at undoing the catastrophic mess she's created.

inthetrenches1 · 10/01/2025 18:39

These types of posts just smack of rival party tactics. They’re in here all the time. And silly petitions being set up by opposition parties about things they don’t like. They’re all designed to infiltrate the consciousness and destabilise our country.

In fact… Elon, is that you?

Whatsitreallylike · 10/01/2025 18:35

senua · 09/01/2025 18:13

Funny how it is currently the female Chancellor's fault but not the male PM's.
Previously, it was the fault of the female PM and not her male Chancellor.

Spot on.

Dbank · 10/01/2025 18:30

Any glimmer of recovery has been snuffed out. The economy and the cost of borrowing wasn't remotely robust enough for their idealistic plan.

It was obvious before the budget, but they gambled have the country's future.

I fundamentally believe we can't afford to spend on public services with such high levels of debt, as it leaves us too exposed to the global cost of borrowing.

MichaelandKirk · 10/01/2025 18:26

For me the worst thing she did was target the farmers. Has anyone ever met a lazy farmer? This is our FOOD chain. Does she really want the UK farming land to be in foreign hands?? I heard her on the news and she didn’t even know what the new changes were with regard to inheritance tax.

She couldn’t explain it properly.

TheCompactPussycat · 10/01/2025 18:26

I think it's a little premature to be thinking she's crashed the economy quite yet. Much of the current problem is because world markets are jittery because of Trump's imminent inauguration and what economic policies (and territory-grabbing policies) he might try to enact. It might be convenient to blame it entirely and squarely on Rachel Reeves and Labour, but it would be very naive to do so.

EasternStandard · 10/01/2025 18:21

MichaelandKirk · 10/01/2025 18:19

How anyone can think she is doing a good job is beyond me. Talking down the economy, putting taxes on employers will not increase growth. Where is she getting her advisors from??

How on earth is she saving the economy as a PP mentioned.

It’s such a bizarre claim at this point

MichaelandKirk · 10/01/2025 18:19

How anyone can think she is doing a good job is beyond me. Talking down the economy, putting taxes on employers will not increase growth. Where is she getting her advisors from??

How on earth is she saving the economy as a PP mentioned.

LetThereBeLove · 10/01/2025 18:19

FormerlyPathologicallyHappy · 10/01/2025 18:16

Being au fait with economics should kind of been in the essential part of the skill set list for the job.

Talking down the economy never works well.

One would think so.

FormerlyPathologicallyHappy · 10/01/2025 18:16

LetThereBeLove · 09/01/2025 18:29

Judging by her appearance in the House of Commons at yesterday's debate she looks like she has aged 10 years over the past few weeks.
Starmer desperately needs to find a Minister who is also au fait with economics.

Being au fait with economics should kind of been in the essential part of the skill set list for the job.

Talking down the economy never works well.

EasternStandard · 10/01/2025 18:13

Maddy70 · 10/01/2025 18:11

This chancellor is saving the economy. Brexit blew a massive hole in the economy as did other awful decisions by the previous government. She's on damage limitation currently while trying to fulfil pledges. Not an easy task

How is contracting the private sector and getting closer to public sector cuts saving the economy?

The growth they wanted has resulted in the opposite

Maddy70 · 10/01/2025 18:11

This chancellor is saving the economy. Brexit blew a massive hole in the economy as did other awful decisions by the previous government. She's on damage limitation currently while trying to fulfil pledges. Not an easy task

MichaelandKirk · 10/01/2025 18:10

Did Reeves honestly think that increasing the NMW, and changing the NI so employers would be paying more would increase growth. Who on earth is advising her?

MichaelandKirk · 10/01/2025 18:08

The first women Chancellor and she is making a pigs ear of this. Shame on her and she skips off to China rather than sort out the mess.

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