To think Liz Truss MUST call a general election to make “unpopular” and “difficult” decisions that deviate from the last GE manifesto?

[CurseOfBigness]

I get that Liz Truss is a keen new prime minister full of beans and ideas. I just don’t think she has the mandate to push through decisions that are “unpopular” and “difficult” if it deviates from the last general election’s manifesto.

Liz Truss plans radical shift in economic policy: New UK prime minister readies tax-cutting mini-Budget and says she is prepared to be unpopular.

This new prime minister has not gained her position by winning a general election. If she wants to radically change things and be “unpopular” then she needs to put the vote to the people.

Truss talked the talk about promoting “freedom” and not being dictated by “instructions”. But Freedom is not for free. The rule of law applies as “instructions” to help keep society civilised. Checks and balances.

Removing the cap on bankers’ bonuses is a poor PR move. Trickle down economics is problematic and already being criticised as ineffective.

Truss thinks she can do what she wants because she’s party leader and by default became prime minister. But Truss can’t afford to be “unpopular” because she needs to win a general election in her own right first.

AIBU to think Liz Truss must call a general election to make “unpopular” and “difficult” decisions that deviate from the last GE manifesto? Isn’t that how democracy works?!

The challenges wrt GFA and a trade war with the EU will soon make life more difficult for an already fucked UK. And whether the electorate know it or not, Brexit is not done. Its toxicity and damage is ongoing with no end in sight because the Conservatives don't have a plan or a clue.

The poor "optics" around removing the Bonus Caps for bankers is more around the fact that the government have advised against employers giving too high pay rises because of inflation.

But it's OK for bankers?

@DdraigGoch It was Biden who made the recent comment about trickle-down economics, which neatly summed up Liz Truss’ approach.

Biden Set To Meet Truss As Two At Odds Over Trickle-Down Economics—Here’s Why The Approach Is Controversial

‘Biden on Tuesday tweeted he was “sick and tired of trickle-down economics,” arguing the approach has “never worked”, just a day before Truss is scheduled to speak before the United Nations General Assembly about her plans to impose wide-ranging tax cuts that she has admitted will likely benefit the wealthiest more than the poorest.’

The poorest are more likely to put the money back into the country’s economy to buy locally. The rich will either squirrel it away or spend abroad. In the past, abroad was ok economically because of the empire and Europe. That international circulation has changed since both the empire fell and then Brexit happened.

Biden talks instead about building “from the bottom up and middle out”.

As for Brexit being done, how well do you think it has been done?

The UK doesn’t have trade deals with the two largest trading blocs (EU and US). Truss has admitted that there’s unlikely to be a trade deal with the US in the ‘short and medium term’ (this is worrying given most Brexit voters believed that the US trade deal was a given - but Boris was counting on a Trump administration being in power for another term).

To me, it seems that Truss (who saw the value of being in the EU and was a remainer) is desperate. That’s why they won’t release the OBR forecasts.

Mini-Budget risks setting UK on ‘unsustainable path’, say IFS and Citi

I meant Free Trade Deal. The UK had one with the EU, but not anymore.

There was an expectation of a free trade deal type of agreement with the US but it’s unlikely in the short and medium terms.

Our trade position is shit. As was entirely predictable.

Or the hugely outdated Boston School of Economics approach. "trickle down" and "Tax cut" economics of the 80s Reagan/Thatcher era which have been proven to massively increase income inequality, lesson social mobility and increase poverty. But yes, why don't we do that again? 🙄

The UK does have a free trade agreement with the EU. There are no tariffs imposed on goods exchanged between the two markets. There is also mutual recognition of standards. Or are you confusing free trade agreements with customs unions?
ec.europa.eu/info/strategy/relations-non-eu-countries/relations-united-kingdom/eu-uk-trade-and-cooperation-agreement_en#freetradeagreement

I'm well aware that it was Biden who made the comments (though he didn't actually name the UK). That doesn't mean that they have any more basis in reality.

The reality is that the NI threshold is being raised to match the income tax threshold at £12.5k. This takes the lowest earners out of taxation completely.

Perhaps the US President should put down the New York Times.

I agree with this, Brexit is so far from 'done'.

Liz Truss has been imposed on the country by a percentage of just-over-half of a few people, so I don’t disagree on principle.

But you seem to be labouring under the misapprehension that this is a democracy, with voters who are both informed and empowered.

I doubt Biden was thinking of Truss when he made his comments - he’s got his own things going on. He may be sick of it but it’s whether his electorate feels the same. Not over here but there - so they can get another term.

Just listening this morning it seems one issue is timescale for growth - it may take longer than the two years to get it going if it does work. And a GE is sooner so we’ll see

Whilst I agree Johnson and Sunak had different approaches one was taken out by media and public and the other seem to be too rich for public after damaging stories broke

Reputable economists? Who? The Marxists at the LSE? Those whose policies have overseen economic disasters exported to every country their gullible students have gone to?

Well right now the £ is plummeting off a cliff, large losses in these last few days so clearly confidence in this government is in short supply right now. Not what we need as a nation that imports as much as we do.

Possibly got confused there. Looks like I need to read up further on this. I was under the impression the EU/UK free trade deal was inferior to pre-Brexit free trade deal.

Are you saying nothing has changed in the free trade deal with the EU?

Well right now the £ is plummeting off a cliff, large losses in these last few days so clearly confidence in this government is in short supply right now. - @Lonelycrab

Truss wasn’t elected by the people. She’s been imposed on people by a teeny tiny number of people, all of whom are Conservative party members. The lack of confidence in the government is understandable.

Starmer ahead? On what basis? Doing nothing? No policies apart from a failure to define what a woman is?

Average Inflation at 9.1% in eurozone

ec.europa.eu/eurostat/documents/2995521/14698150/2-16092022-AP-EN.pdf/741bf6b2-1643-6ff0-34e7-31522ce1e252

Bollox!

You ve taken the UK's July rate and compared it to the August rate in Europe.

UK August rate is 9.8% considerably higher than Comparable european economies, unless you think our economy is now comparable to BE or ROI ?

France has a very low inflation rate purely because it nationalised EDF, a policy a tory would never countenance, they'd rather wreck the economy and borrow 200 billion.

Brexit has been a disaster, so far from done, especially on trade to EU and NI - it will define UK foreign affairs in Europe for decades to come.

10pts ahead is 10pts ahead.

Two years out from a GE, its not Labours job to be a think tank of ideas for the tories.

Labour clearly have defined what a woman is, they have twice as many female MPs as the Tories do, despite a lower number of MPs.

You don’t know what Biden was thinking.

If he was being critical of Truss he’s also likely to be indirect about it for reasons of diplomacy. This sounded like an indirect way to do it. It’s implied but not confirmed either way. He had left it open to interpretation - and it wasn’t lost on some.

As far as I can tell, only Truss’ side have claimed Biden wasn’t referring to Truss. Biden administration hasn’t (as far as I tell) disputed the claim he was commenting on Truss’ economic approach.

Labour have poor PR too.

Corbyn didn’t help their case.

You don’t know what Biden was thinking.

This applies to you too obviously.

Personally I find it a bit fanciful that a world power spends precious messaging time on taking side swipes at U.K. I don’t think we’re that important, but if you’re sure up to you.

I don’t claim to know either.

Biden’s comments are open to interpretation.

The timing coincided with Truss’ announcements in New York. She was in his country, so he may likely have heard about this new prime minister’s economic approach. One that Truss was apparently taking the stage to preach to other world leaders too.

As I said, Truss’ government has claimed Biden wasn’t about her. But I’ve not heard from Biden’s administration denying it either.

Again, we don’t know. It’s down to interpretation, which is a smart trick if he was having a swipe.

Fuck Liz Truss. How can people organise against her and her cronies?

Mock and show your ignorance all you like. The freeze on utility bills was a Labour policy. You’re obviously unaware that Starmer’s interpretation of the 2010 Equality Act is identical to Suella Braverman’s.

Judging by the complete lack of warmth in their body language when Truss and Biden met recently & by both sides stating there will be no trade talks, i think its safe to say, Biden & Truss share nothing in common, policy wise.

£/$ down even further after the mini statement, markets also don't believe in Trickle Down either and more importantly, the UK's ability to pay for its borrowing, which is vital, lose that confidence and we are in IMF territory.

We are heading for economic disaster, which to be fair, Sunak said would happen.

It's not just people who are wary of the conservatives saying all this is a bad idea, it's also one of the older members of the conservatives as well ( Mr sunak and Mr Hammond spring to mind) plus those who didn't back Ms Truss for the leadership. She didn't win that very convincingly plus many probably only voted for her as they didn't like the fact that Mr Sunak wasn't Boris Johnson or of Indian heritage. It was a a bit of a shallow victory for her to be fair.
Still, we will have to see how it goes. We haven't got much choice in the matter