Page 4 | Black Monday anyone? The tories should be in jail

Upthebracket22 · 2022-09-26T05:51:16+00:00

The pound is now at its lowest point against the dollar since decimalisation in 1971 at 1.03. It’s probably going lower and the Bank of England will likely need to step in with an emergency interest rate rise today. Black Monday possibly? All because of the mini budget on Friday. The Tories should be in jail. Especially if their rich backers were shorting the pound as it appears to get rich.

JesusInTheCabbageVan · 26/09/2022 08:16

I used to get so pissed off with people on here saying things like 'Well, if we get rid of Boris he'll just be replaced by someone worse.' I thought they were just being a bit cowardly and pathetic. I was really quite wrong about that, but I genuinely didn't think it was possible to find someone worse than Boris, FFS.

Blossomtoes · 26/09/2022 08:16

Novum · 26/09/2022 08:15

Oh good. The rich may employ more nannies and gardeners, maybe even the odd cleaner and chauffeur. We're saved!

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They were employing those people anyway. An extra 5% isn’t going to increase that.

icelolly12 · 26/09/2022 08:17

The mind boggle. Labour and especially Corbyn are STILL being blamed for this shitshow by some posters. What would the Tories actually have to do before you see them for what they are?

It's unbelievable isn't it.

walkingonsunshinekat · 26/09/2022 08:18

Coucous · 26/09/2022 08:11

A lot of them employ others too - from nannies (on £5-600 a week), gardeners etc and pay taxes of those they employ. People are so short sighted. There's nothing wrong with giving people more of their own money with they worked for.

Who is paying income tax?
56% of the population are paying income tax. Of those 31million people, 300,000 actually pay in 27% of the income tax total. The top 1% of earners pay almost a third of the UK’s entire income tax.
Why are 43% of people not paying income tax?

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Yes, that gardener has to stop work because he/she can't get a GP appoint or knee surgery.
how does giving a banker on a £1m (low paid banker) an extra 55k stimulate growth?

Other countries such as france have higher economic growth , much higher productivity and far better public services - despite higher taxes.

People dont pay taxes because the Tories suppressed wages.

itrytomakemyway · 26/09/2022 08:18

Rich bankers will now be paying for nannies and gardeners. Yes, I understand that now. The economy will be fine.

For the love of God, can you even see how ridiculous that is? The pound is crashing, fuel bills are going through the roof, food banks are desperate for donations,the UK cannot get a trade deal with anyone...... but it's all going to be fine because the bankers will give to charity and employ lots of people.

AuntSalli · 26/09/2022 08:19

Coucous · 26/09/2022 08:11

A lot of them employ others too - from nannies (on £5-600 a week), gardeners etc and pay taxes of those they employ. People are so short sighted. There's nothing wrong with giving people more of their own money with they worked for.

Who is paying income tax?
56% of the population are paying income tax. Of those 31million people, 300,000 actually pay in 27% of the income tax total. The top 1% of earners pay almost a third of the UK’s entire income tax.
Why are 43% of people not paying income tax?

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Nannies are a short term fixture in most households, 5 years tops for most families.

Gardeners, in the SE ? Would take one day a month on average, so in the unlikely scenario one Gardner is being employed by 31 bankers to keep them busy for the entire month times let’s say double minimum wage 20 quid an hour. That’s a whopping £4091 a month being trickled down 🙄

WhatdoImean · 26/09/2022 08:19

Regarding the lower paid who do not pay taxes... well.... who'd a thunk it... a low paying economy with zero-hour contracts (effectively subsidised by the Government as they pay so little) and people who are unable to pay taxes.. wow..

Mind you - all the well paid people who stand to gain literally thousands? They tend not to spend it - they save it (after all, there is only so much food you can buy, or heat the house so much), whereas if the assistance had been targeted to the poor, they would have had no choice but to spend it (they are desperate), and THAT would help the economy so much more it is ridiculous

napody · 26/09/2022 08:20

Novum · 26/09/2022 08:15

Oh good. The rich may employ more nannies and gardeners, maybe even the odd cleaner and chauffeur. We're saved!

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Indeed- someone upthread thinks bankers 'probably give a lot to charity' too 😂

BerriesOnTop · 26/09/2022 08:20

Blossomtoes · 26/09/2022 08:13

Why are 43% of people not paying income tax?

Because they don’t earn enough. You can’t get blood out of a stone.

Damn, that’s grim. Best you can hope for is the favourable exchange rate plus those new low tax rates for the rich will lure people to repatriate their money. It would be a gamble tho, not sure I’d do it. But then you have to believe in the continued strength of the USD … 🤷‍♀️

StJeanDeVence · 26/09/2022 08:22

Rich bankers will now be paying for nannies and gardeners. Yes, I understand that now. The economy will be fine

The bottom of the barrel is being well and truly scraped, isn't it?
Jeremy Corbyn, hedge-fund managers paying their staff...what next I wonder from the Big Book of Tory Cliches?

blondieminx · 26/09/2022 08:23

Upthebracket22 · 26/09/2022 07:13

It’s absolutely mind boggling that we are in this position - I honestly think it’s a smash and grab of the country as they know they’ll be voted out at the next election

That’s exactly what it is.

we’re being looted and damaged by our own govt.

waffless · 26/09/2022 08:23

May be check the facts over the shrinking of the Euro and other currencies against the dollar before starting these threats. This helps no one and is in fact counterproductive.

PerfectlyPreservedQuagaarWarrior · 26/09/2022 08:24

Pottedpalm · 26/09/2022 08:01

@Novum
You understand the country voted for Brexit?

Not for the version the Tories decided to inflict on us we didn't. But we ended up with it anyway, because first past the post.

LadyFromage · 26/09/2022 08:24

kittensinthekitchen · 26/09/2022 08:09

Isn't the UK made up of 4 countries?

Yes, one country did vote for Brexit. 3 didn't.

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I see this quoted a lot and it's wrong - though I understand why it's tempting to think that way.

Votes for leave vs remain by country....

England 53% vs 47%
Scotland 38% vs 62 %
Northern Ireland 44% vs 56%
Wales 53% vs 47%

Scotland and Northern Ireland turnout was also low compared to England and Wales. Ultimately, about 1.2m votes were all it took to swing it to Leave.

Skolo · 26/09/2022 08:25

HairyFeline · 26/09/2022 07:05

The latest news about the review of environmental farming strategies is the icing on their rotten cake. They’ve lifted the cap on bankers bonuses, cut tax for the very wealthy, ruined the pound (but damn right they’re going to make millions from that), lifted the ban on fracking and now this morning the farming review.
I feel despair. This government remind me of Trump and his almost insane actions in his last weeks in office.

Caps on banker bonuses is all good populist stuff but it isn’t better for raising taxes. Income tax is higher than corporation tax.

PerfectlyPreservedQuagaarWarrior · 26/09/2022 08:25

blondieminx · 26/09/2022 08:23

That’s exactly what it is.

we’re being looted and damaged by our own govt.

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It's looking like that isn't it? They understand that they're going to be massacred at the next GE and won't be back in for a while, so their billionaire overlords have instructed that they use the remaining two years of their term to enrich them as much as possible.

Notonthestairs · 26/09/2022 08:26

What is counterproductive is launching a budget without an OBR report, watching the pound drop and then saying there will be more tax cuts to follow.

You'd have conniptions if this had occurred under any other government.

BirmaBrite · 26/09/2022 08:26

I thought the Conservatives were supposed to be good with the economy ?

cakeorwine · 26/09/2022 08:28

waffless · 26/09/2022 08:23

May be check the facts over the shrinking of the Euro and other currencies against the dollar before starting these threats. This helps no one and is in fact counterproductive.

How is the pound doing against the Euro?

RufustheFloralmissingreindeer · 26/09/2022 08:28

But why is it so difficult to have rational debate here. When you read the comments on this thread, it’s hysterical shrieking

i would like a rational debate on this…

its a shame that people call for a rational debate and then ruin their own point with hyperbolic rubbish

Bootsandcat · 26/09/2022 08:28

What they’ve been doing the last few years is not ok, I’ll be voting labour for the first time in my life in the next election

LifeOnATrain · 26/09/2022 08:28

everyone's currency is doing this apart from the dollar

just google japanese yen to dollar intervention if you'd like to read up on it as an example

what also isn't helping is currency speculators are now in the market trying to short currencies which is also causing massive swings

Original poster

Upthebracket22 · 26/09/2022 08:28

@waffless “May be check the facts over the shrinking of the Euro and other currencies against the dollar before starting these threats. This helps no one and is in fact counterproductive”

is this another ‘it’s just as bad in Europe’ comment to justify what the tories have done. The pound is in a dire situation and is collapsing. Maybe check your facts too

OP posts:

BerriesOnTop · 26/09/2022 08:29

waffless · 26/09/2022 08:23

May be check the facts over the shrinking of the Euro and other currencies against the dollar before starting these threats. This helps no one and is in fact counterproductive.

It’s like they haven’t been paying attention to what’s happened to literally all other global currencies.

Haffiana · 26/09/2022 08:29

I feel so betrayed by Labour more than by the Tories. The country is tanking and Labour start wittering away about abolishing the House of Lords...

I wish they would get their heads out of their Corbynesque arses. No-one gives a FUCK about the House of Lords and abolishing private schools and the rest of their fucking old-school claptrap. Why the hell can't they concentrate on what is important for the country instead of this mad politics-of-hate rich-bashing.

WHY do Labour make themselves so unvotable for??