Oh will you look at that! A government u-turn!

[tenbob]

AIBU to think this government is now totally dead in the water..?

Wonder what all the Truss handmaidens tying themselves in knots to defend the tax cut will say now..?

Don't misquote me please?
Covid policy doctrine was initiated under the advice of fools like sage and their global equivalents. Is that clear enough?
Oh and how are the European powerhouse banks Credit Suisse and Deutsche doing today. How is Holland coping with it 17% inflation.

Lol. Love to see what they'll cut up here in our godforsaken NW town. £40 million already to cut this year before they've even started. There'll be nowt left.

It's not very little at all? A third of the borrowing announced last week was to cover the loss of tax.

I don't think that Sage advisors or the inflation in Holland is anything to do with this latest crisis to be honest.

Sadly, cuts already announced @CeeJay81

Exactly.

Only £2-3 bn

£2-3 bn they were then going to borrow.

Tax cuts are for when we can afford them. Not to then have to borrow from elsewhere. If trickle down economics is effective they shouldn't need to borrow it because they think that money would trickle down through the economy.

I actually am not against a reduction in tax for those top earners. 45% is high.

But it needs to happen after they've grown the economy. It was never going to be how they've grown it.

(I'm not a high earner!)

Rishi sunak would have lowered the 45p threshold too, only he would have done it before a GE and after they tackled inflation.
He said this at the hustings.

It’s not just being sensitive to the needs of the population. She couldn’t even sense the needs of her MPs.
Let’s face it the only reason she’s u-turned on this is because even she isn’t too dumb to realise how catastrophic failing to get this through Parliament when you have a 70-80 seat majority would be. She’d be finished by a ‘fiscal event’ she announced in her first working week as PM.

Yes, and one has to wonder, what the fuck did she expect was going to happen?

Latest crisis.
The crisis began with the pandemic. It's not over.
I said earlier there'd be cuts and now the cuts are here. The tax bribe was meant to be an incentive. Now it's gone.

@RedAppleGirl can you please explain, since you are clearly a diehard Tory, why it is always the case that rich people need tax bribes incentives while poor people need to have their income cut and be kicked deeper into the mud? Asking for a friend.

well yes - because this fiasco has cost the country many billions of pounds, which could have been spent on, say, social care, or hospital waiting lists.

The Labour party cannot help themselves. It's a core tenement a fundamental now.
A core what now?😂

Which will grow the economy, those that invest their money in endeavours that grow and are useful for groups of people. We know that wealth is generated by the wealthy. The rich do get richer.
Or giving billions away so people can have throat tattoos and eat burgers.

We've just had the great pandemic fiscal giveaway. It didn't work. It has to be paid back.
People are foolish, biting the very hand that feeds them. Literally.

Are you real??

Desperate there
People spend it on tattoos and burgers ...
They won't when they are only working to pay the bills ! At least people spending it on these things also keep the economy moving too!
Can't see much wrong with that tbh

It's been shown repeatedly that this idea that if you give tax cuts to the rich that they reinvest that money and help grow the economy is utter bullshit.

What they do is keep it. That's it.

New poll, conducted just before today’s u-turn, gives Labour a 25 point lead.

NEW Westminster Voting Intention🚨

📈25pt LABOUR LEAD

🌹Lab 50 (+7)
🌳Con 25 (-4)
🔶LD 11 (-1)
🎗️SNP 3 (-2)
🌍Gre 3 (-1)
⬜️Other 8 (=)

2,113 UK adults, 30 Sept - 2 Oct

(chg from 23-25 Sept)

^ what’s notable about these recent polls, other than the crazy difference in numbers, is that Labour’s gaining more than tories are losing now. Previously it was tories who moved more.

@RedAppleGirl so you believe in the discredited doctrine of trickle down economics. Righto, no need to take anything you say seriously then.

Another poll, by redfield, shows an even bigger gap.

Whoops, forgot to actually post it!

Westminster Voting Intention (2 Oct):

Labour 52% (+6)
Conservative 24% (-5)
Liberal Democrat 10% (-3)
Green 5% (+1)
SNP 5% (+2)
Reform UK 3% (-1)
Other 1% (–)

Changes +/- 28-29 Sept”

Or giving billions away so people can have throat tattoos and eat burgers

Oh my lord. Is that you Jacob?

The rich get richer because they invest their money in offshore accounts. They don't spend it and grow the economy. Even the very wealthy don't spend the majority of their income as the poor do just in order to live.

The poor don't get a chance to save/invest abroad - but if they get a little extra cash, they do spend it. They buy things locally; they spend their money in this country - it is their disposable wealth that grows the economy.

People are foolish, biting the very hand that feeds them. Literally.

Do you know what the word "literally" means, @RedAppleGirl ?

She must have been using it in the modern, figurative sense.

As in ‘the tories and their trickle down economics are literally fucked.’