Labour isn't working - Thread 19

[TheNuthatch]

A chat thread for those who don't like this Labour government. 💙

We are bracing for the budget 😬

The problem with socialism is that you eventually run out of other people's money.

Previous thread
https://www.mumsnet.com/talk/_chat/5441764-labour-isnt-working-thread-18?utm_campaign=thread&utm_medium=share

Gilts soar LOL.

5 year is up 162 bps!

What imbeciles!

Starmer and Reeves are dead - its merely a function of time, now.

@TenLittleSweetWrappers I would say it’s extremely important not to form ‘echo chambers’ or attempt to gang up/bully anyone with an alternative view off the thread.

You’ve obviously never been on the Brexit threads.

That’s a manifesto break and definitely a tax on working people.

Exactly. The pre budget conference was to get them down. What on earth did they think would happen

Absolute clowns.

10 year + 216 bps.

‘Under pressure’ playing in the background….

This might be a backbencher thing. Under the cosh of their imminent revolt this press release and u turn

Starmer and Reeves are trying to save their jobs

I think they're going to do something around property taxes. Council tax bands will increase for sure, although that will take years to implement. I wouldn't be surprised if they don't charge CGT on primary residence. They're bat shit enough.

Back benches or the OBR, yes.

It simply proves that Reeves lacks the requisite competence as Chancellor, and that she is beholden to the BB and OBR.

After hearing people curse her for 'no such thing as society' I looked it up and read the whole speech. It's absolutely spot on.

People wilfully misinterpreted it as her saying that no one should care about anyone else. It's not that at all. She was just pointing out that when you take benefits, it isn't coming from some amorphous 'society' with it's own money. It's coming directly from another UK person - maybe your neighbour- who is working to earn that money and then giving it to you (via taxes).

So benefit claimants shouldn't take it for granted. They should be responsible and try to minimise how much they take - because they're taking money from their neighbour.

I struggle to understand the gilts market. Trying to make sense of it now as I know it's important.

Honestly I wish this lot would just admit they are absolutely hopeless and throw the towel in and call an election. We can dream!!

I've Honestly no clue how this budget will go (and I'm not sure they do either) all I feel is it's not going to be good for anyone (the non working people especially)

We so need another Margaret Thatcher.

Essentially, it’s how the UK government raises and funds its debt - every move on gilt yields (which is the pricing of risk - i.e. what return investors want in order to lend money to the UK govt) impacts Reeves’s ability to fund government spending etc.

In short.

Honestly what a shower. Wouldn’t you think if you had a budget to present in less than two weeks it would all be done and dusted by now. They just have no clue what to do, might as well tear up pieces of paper and pick them out of a bag.

If Kemi keeps this up, we may have one.

Yep

Well Starmer will still get paid if he likes. Which he will of course cos he can’t back to legal, can he? Urgh he’d probably start working in the leftie chambers that enable all the immigrant criminals to stay. Uman rights innit. Reeves - HSBC bank clerk?

‘Public duty costs’

https://www.instituteforgovernment.org.uk/explainer/former-prime-ministers-support

Now who’s ’crashing the economy’?

The problem of the last 14 years is that political expediency always came above the national interest" Rachel Reeves, 4th November 2025.

Fucking imbeciles, really.

Morning all.

No smile this morning, I'm too angry. How fucking dare they cause all this anguish and instability. 😡 I just heard a Labour MP on thr radio, pretending that Reeves never said she was putting taxes up, its all media speculation. She gave an early morning speech ffs.
And now they decide that they don't have enough political capital to pull it off, and they want to keep their jobs. Custards.

@Catatemyhomework I hope today's news eases your worries a little. I thought of you as soon as I read it, I know you've been struggling

Omg. It's been all over the news. How can they deny it? That is bonkers. Do they think we've all been living in nuclear bunkers for the past few weeks?
I feel down too. Just having no idea what's happening, but knowing it will be bad is really stressful.

Ikr such gaslighting liars.

They can try to hide the lies but the markets aren’t fooled. It’s all there in the reaction.

Thank you. I don't think we'll get off free though. I'm beyond certain they'll do something to HRT payers. Just have no idea what..

Am I right in thinking (in very simplistic terms) that gilts increase = increase costs of government borrowing = bigger black hole of debt?

That Labour MP’s statement is a perfect example of the dishonesty of this government. They leak and trail endlessly, then blame the media. It’s a disgrace.

And all this government game-playing and dissembling is about THE BUDGET. This isn’t about a new wind turbine site or who’ll be the next minister for agriculture. It’s the economics of everyone’s daily lives. FFS!