So taxes and stamp duty are going to be cut to ensure that we get economic growth...

[cakeorwine]

People with more money get even more money.
They use this money to start businesses, buy things and stimulate demand and growth.
So people at the bottom get more money and more money comes in through taxes.

It's going to be an interesting few years. We have low unemployment and a lot of people who just aren't looking for jobs. We have also made it harder for people to come from abroad and work here.

We are borrowing a LOT of money because of the energy crisis.
Our population is ageing and we are facing a social care crisis.

It's certainly a difference of politics. And not in the Tory manifesto.

Tories are gonna Tory.

The electorate gets what it deserves.

I am not sure how many Tory MPs actually want this

Whilst i'm not a Tory voter I do think stamp duty is quite prohibitive. We are thinking of moving so this has piqued my interest

Our population is ageing and we are facing a social care crisis.

agree with this

I wonder what the effect on already unaffordable house prices will be?

Yeah, I'm sure that some of them recognise that the timing is wrong. But most of them subscribe to the basic principle of making the rich richer and hoping that it will somehow trickle down to everyone else.

@cakeorwine well it's certainly not going to make them more affordable but it's easier for people to move/buy by spreading cost rather than paying upfront as seen in the pandemic. We are obviously heading for a dip & the gov will do anything to prop up the market as housing is the economy.

Interest rate decision coming this Thursday.

Presumably someone has pointed out that the housing bubble is about to burst (fueled by Rishi's ludicrous previous stamp duty holiday) as interest rates rise along with all our other costs a significant number of mortgages will become unaffordable. This is a forlorn attempt to avert that crisis, it probably won't work, but will of course make the rich, richer, bonus!

Interest rate decision coming this Thursday.

it will be interesting if it is as big a rise as expected.

It has to be. The pound needs defending.

that was true the last time they raised them though and they still went under predictions

I am not sure how many Tory MPs actually want this

That's the interesting question in all this.

Their manifesto was nothing like Truss' current politics. She doesn't care - she said yesterday she isn't interested in being popular.

There is NO levelling up in her plans. The main reason they got typically non Tory votes.

The Tory members who voted are just 0.03 of the population. C150k people.

Their vote wasn't as split as forecasted. 80k Vs 60k. In percentage terms it was C 52:48.

So those statistics in themselves show that the party in regards to its members are in really 50% in agreement and they tend to be the more right sided side of the party and those with a financial interest in far right politics and tax cuts.

So it would seem from the outside that as a whole party they won't agree. And the cabinet being reshuffled (again!) and those who supported Johnson's manifesto being removed or declining positions also sends a message.

Her cabinet is also the very far right MPs.

The next 2 years will be at best interesting and at worst extremely damaging for our country and those already living in poverty.

I wonder how this will go down at the party conference?
A show of support or lots of briefing against it?

Govt Borrowing money to fund tax cuts will drive down value of the pound more strongly than BoE raising interest rates will 'defend' the pound.

Our economy is basically flogging massively overpriced houses to each other at increasingly unrealistic prices.

If that stops, the banks will collapse - again - as per 2008, only this time, no bailouts will be possible without destroying the pound.

Far right parties just won elections in Sweden and Italy, and nearly got in France. The canaries in the coal mines beneath Europe are beginning to sing.....but is anyone listening?

Abandoning levelling up so blatantly is pretty bold. Perhaps they thought that house prices dropping would lose more of them

Truss is going to make BoJo look like a lefty liberal. I don’t vote Tory but would have much preferred Rishi, and I’d even say at least BoJo was a populist. Truss has already come out to say she knows policies won’t be popular but suck it up peeps.

Truss has form for doing 180’s on lots of ‘ideals’ she’s had. On other threads I’ve been told ‘everyone is allowed to change their mind’. Someone who goes from a Remainer to Brexiteer and from a Liberal to this flavour of economics (2 examples of many) is not just someone changing their mind. She has no idea what she stands for because the simple fact is she’s an opportunist who would do ANYTHING to progress her position. People had no idea what they were voting for.

Her current policies are nothing more than thought experiments of her next whim.

I would have preferred Rishi too

Their vote wasn't as split as forecasted. 80k Vs 60k. In percentage terms it was C 52:48.

So those statistics in themselves show that the party in regards to its members are in really 50% in agreement and they tend to be the more right sided side of the party and those with a financial interest in far right politics and tax cuts.

Really? I thought 52:48 was a huge mandate. Those 48 just need to get behind Truss and it will all be fine!

In all seriousness, I have no idea how she's paying for all this. 12 years of austerity means nothing to cut in the public sector. And if we get interest rate rises and inflation there won't be anything left to "trickle down". It seems absolutely bonkers.

I don’t deserve it.

I have never voted Conservative.

Tbh I don’t think many people who did vote Conservative deserve what’s coming. It’s up to Parliament now. If it’s not in the manifesto the Lords can amend some of it, in theory? Although the Commons should deal with this madness really.

It's trickle down economics, which everyone knows doesn't work.

Anyone who isn't rich who still votes Tory now is a mug.

this kind of trickle down economics has never worked. The fallacy that the best off will spend their less taxed income on goods and services to the benefit of the wider economy is exactly that. When you can already afford to buy everything you need / want having extra in your pocket just means you will squirrel it away.

And interest rate hikes encourages MORE squirrelling for those with savings.

Think Truss would do well to have a few more maths lessons from daddy.