To think Liz Truss just threw KK under the bus?!

[WakeUpAndBe]

Laura Kuenssberg: Did you discuss the top rate 45% tax cut with the whole cabinet?

Truss: No. It's a decision the Chancellor made.

www.bbc.co.uk/news/live/uk-politics-63074338

An Oxford professor has started a petition asking if Can Truss and Kwarteng be prosecuted for Misconduct in Public Office. Now we know that Truss will seek to shift blame onto KK.

They are quite well practiced at plotting and overthrowing PMs at this point in time. It should not be too difficult?

Tjis is both hilarious and tragic. We need stability.

@WakeUpAndBe

they lost 65 billion in two weeks due to this.

no one should keep there job. Period.

Can you evidence the loss of £65 billion please.

www.bloomberg.com/news/articles/2022-09-27/uk-markets-have-lost-500-billion-since-truss-took-over

RedAppleGirl · Today 11:30
Can you evidence the loss of £65 billion please.“

don’t know how to do links.

There have been countless articles/news items in papers and journals, on radio, Tv, websites, in UK and internationally over the past days reporting the BoE’s £65 billion intervention, to save the pension funds managing the money of approximately 11.5 million pensioners from being wiped out by the Government’s mini-budget, fiscal event, whatever the hell they called it.
Where have you been that you failed to see or hear a single one?

I think that’s a reference to the £65 Billion the Bank of England were forced to inject to prevent pensions from collapsing. Look it up… I assume you have Google.

Rex Applegirl
Just watch Michael Gove and his interview yesterday on Bbc one
This man isn't a random person on mumsnet , it's an MP who said that all this was wrong and not the conservative way. Not costed out
Members of their own party !

Don’t you watch the news?

Nadine Doris has called for a general election I feel like I’m living in a parallel universe at the moment

Nadine Dorries is fed up that the motions around BBC , safeguarding and channel four have been scrapped apparently
Or put on hold I suppose.

I think that poster may be a bot - all they ever post is “can you evidence xxx”

On a thread about house prices, they asked me to “evidence” that London house prices had gone up over the past 20 years. Like anyone could be unaware of that. It’s just an attempt to derail the conversation. If they aren’t a bot, they are definitely not posting in good faith.

Yes

Not the Conservative way under Harold Macmillan maybe. But it is now and has been since 1979.
They'd abolish all universal benefits tomorrow if they could get away with it. I remember a supporter of John Redwood's leadership bid saying so.
It's just bad timing for Loopy and Krazy. But Govey is a wise old bird. He'd do it by stealth

Your statement is factually incorrect. The global financial markets are disorderly along with everything else at the moment.
The facts are in the links supplied.
www.bankofengland.co.uk/markets/market-notices/2022/september/market-notice-28-september-2022-gilt-market-operations
bankofengland.co.uk/-/media/boe/files/markets/other-market-operations/long-dated-uk-government-bond-purchase-time-series.xlsx
The Bank pledged that they were prepared to buy up to £65bn if necessary. They actually only bought £3.7bn.

As for mortgages, most products removed were back on sale within 3-5 days. They were only removed because they couldn’t be priced for 2-3 days.
Compare interest rates around the world - they have ALL gone up because it’s a global problem!

I'm not a bot and I think Changechangychange has the wrong poster.

Mortgage products were repackaged and returned to the market at much higher rates.

The Bank of England was forced to take unplanned action.

FTSE 100 Live: Bank of England intervention to reach £65 billion, stocks slip

They actually only bought £3.7bn.

Even if you are correct. Do you realise that £3.7 billion is a hellofalot of money?!

There's no doubt that the cheaper deals for mortgages have been modified as they know the interest rates will go up again by next year

Indeed, however, the gilts are showing a profit! 5%-4%.

The point I was making is to let us talk about facts, not hearsay and political points scoring.
The other point about the tax cuts was the encouragement for those with money to INVEST in the UK and not elsewhere. What is done is done, misreporting, and misunderstanding has damaged the cons' reputation.
I do have some sympathy with the calls for an election, Boris was voted in not Truss she has no personal mandate to lead by general public consent.

It was reported Truss spent time with Nadhim Zahawi outside the main conference yesterday - she had him and her friend, Therese Coffey, both sides of her. I reckon Truss and Zahawi are keeping in with eachother - she needs a back up and he'd like his old job back.

If they wanted foreign investment then maybe they shouldn’t have left the EU? That too was foreign investment… showing that investment is a two-way street.

The tax cut was aimed at people already resident for tax purposes in the UK.
Brexit has happened it's done, over with. Why keep regurgitating the same tired sniping arguments?
The Euro region is in turmoil, cheap money has uncovered risky investments, and the markets are hawkishly looking for victims.

The tax cut was aimed at people already resident for tax purposes in the UK.

Don’t forget wealthy British expats not in the UK!

Spain’s wealthiest British expats handed large tax cut, sparking political fury amid cost of living crisis
One unnamed British person whose Spanish villa is worth €300,000 and has worldwide investments worth €5m saw their tax bill slashed by €53,000

Brexit isn’t over as Twasinonmics is based on the hard right Brexit philosophy of low tax + bonfire of regulations and social protection. GDP and investment is lower as a result.

Truss was a pragmatic Remainer but her friend Minford is a card carrying Brexit economist loon.

GDP and investment is lower as a result

Of Brexit I meant.