I'm actually pleased with the mini-budget

[yubgummy]

(Cue hysterical shrieking ;) )

Macroeconomics is complex. It surprises me that within a week, there's such a strong consensus that everything about the mini-budget is literally the work of the devil. Echo chamber...

The UK basically has never recovered from the GFC and has just been stagnant and struggling for a decade. The clear theme in this budget is encouraging people to actually get out and DO something ("supply-side reform"). Tax incentives for businesses to invest in plant & machinery, reducing red tape for infrastructure investment (more North Sea licences, more onshore wind), tax cuts to base rate & NI to encourage people into work...

I would like to see more action on interest rates from the BoE, and I would like to see more detail on the Planning & Infrastructure Bill, but I want to give them a chance instead of calling for yet another change in government. Supply-side reform is a perfectly sane strategy and the UK economy does need to get moving, by which I mean, producing new and useful goods and services not just keeping the whole country on life support.

Despite it being proven not to work? Okay putin 👀

That’s nice dear.

Kwasi is that you?

Being serious, if they actually wanted to address the productivity issue, which they desperately need to, the tax incentives would be very differently structured. They were also foolish or arrogant to not involve the OBR. No, it isn't a good budget.

If that's you big K you need to produce a properly calculated budget asap that OBR endorses. Quickly! Not in two months time.

In the meantime good luck telling the worlds markets they are all wrong and you're right and they should just believe you.

@yubgummy “Macroeconomics is complex. It surprises me that within a week, there's such a strong consensus that everything about the mini-budget is literally the work of the devil.”

You brought the devil into discussion; it is more likely the work of the devil to be fair…

Truss claims to have Christian values. No. her economic is not in line with the teachings of her spiritual teacher, Jesus.

Tax cuts for the wealthy and trickle-down economics? Jesus had plenty to say about that…

James O’Brien: Kwasi Kwarteng’s tax cuts are “against Christ’s teachings”

Work of the Devil is a credible claim. “Don't make a deal with the devil, if you do you will lose something important that you once had.”

The fact that the Bank of England had to step in to take major steps to stop the whole economy collapsing overnight shows how misguided the whole thing is.

i haven’t heard one expert even start to suggest it’s been handled well by the government

^economic policy

@Igmum how would you have structured the tax incentives?

Which of Kwasi's tax announcements would you have changed?

The IMF have been very vocal criticising the plans, that says it all!

Unlike the Op, the ones who know what they are talking about are really unhappy and that's enough for me to know it's a non starter.

The BoE has been refusing to raise interest rates for a year now and even the 0.5% rate rise they just had was below what many were expecting, so I don't see them as the heroes either.

This.

Does it? Because the IMF aren't political at all are they! They kept quiet when we were throwing money down the pan during covid though didn't they!

You got the briefing then OP?

twitter.com/adampayne26/status/1575459881301278721?t=8ztZ_ab4c8OLJlV1KmPL1Q&s=19

Hi Liz. It's an interesting budget. The markets hate it. Maybe your mate Kwasi is a secret Marxist.

Agree another change of government would be daft. This one has only been at the job for 12 years for heavens sake. Just a blink really. Give it another 10 I say!

I agree it's brilliant. It hastens the end of this corrupt, deceitful, useless, self serving, bunch of charlatans.

Yes it's fantastic, it's the death of the selfish bastard tories ever being in power in our life times again.

Blaming the lockdowns is pretty crass.
Who signed off the lockdowns? Who came up with furlough ?
The government could have said no to any of it and not done what the other countries were doing. They made a choice , but they also threw money at their friends for test and trace and the ppe. A lot of people cashed in who should not have done. Why isn't this ever mentioned?
If the NHS had been properly funded years before maybe they might not have had to lockdown. Even Boris Johnson admitted this in March 2020. Or maybe not for as long.
He even ended up in hospital with it. What were they meant to do ? Honestly ?
I'm the first to criticize, but people saying about lockdown is a lost cause. It was a pandemic , a war footing and decisions had to be made to stop the health care system collapsing.

Tax incentives for investment - particularly upskilling/reskilling and active changes to job design. A fair few others but that will do for now. HTH

Whilst I think there is a chance this could go better than expected, I'm not convinced and I wish we weren't doing this.

😂

Gosh some people on here are not capable of a sensible debate.

you can’t argue with stupid op so you are wasting your time