To think Jeremy Hunt as Chancellor is good

[MrsRobinsonsHandprints]

I mean how bad has it got that Jeremy appears rational, decent and competent. I never imagined in all my years that I'd be pleased he had been given an important job, but now he seems acceptable.
How has the situation in politics become so dire that JH seems like a good choice?

@DuncinToffee Yes, more tax rises and public spending cuts. Austerity 2.0

So how do you think we should pay for Covid? Plant one of Labour's Magic Money Trees ?

Do you mean Covid along with all their fuck ups?

It's not a cure. Hunt has been put there to look like a grown up who can do sums so the markets are calmed.

The corollary of that is ordinary people are having their tax go up, public sector cuts, and a stagnant economy.

Hunt is applying a tourniquet to what has been a haemorrhage- but so long as Truss is at the top and the mortgage rates don't shift, the election is lost.

It's a question of by how much.

Labours' plan isn't a panacea for all ills, either,

www.ft.com/content/95b86a35-d8a3-4b81-82c6-c02a8bea46e5

The Tories are finished. The mortgage rates and economic consequences will filter down for the next year.

People feel that in their pockets. It will hurt. When your mortgage goes up by 700 a month in a nice affluent town, people remember the idiots who unleashed that. No one will care about Labour.

This is all about stemming loss. But they are toast

On the understanding that I loathe the lot of them and have happily signed the General election permission that will be completely useless but makes us feel better. When JH stood against BJ for Prime minister I expected to hate him and had to reluctantly concede that he was relatively sane and sensible.
So, maybe he's a better, safer choice than others? 🤷🏽‍♀️

what was the reason for the high mortgage rates in the 80s/90s?

@Oceans12 Presumably Hunt thinks the tax cut is a mistake because he was campaigning in a summer for a bigger tax cut that he will now inact as Chancellor.

"if you can you leave the bad language back home on your sink estate, I'd be grateful"

Classy.

@Oceans12 So you don't think that someone will have to pay for the billions of pounds of spend on fraud, bungs to their mates and rectifying costly mistakes that the government have overseen for the past 3 years?

The poster of those comments if ar superior to the rest of us, and we should doff our caps to them because we know our place.

pretty boring for everyone else i think

@jgw1 To be fair they will be terrified about the incoming Labour government.

They don't like it when the worm turns and a huge majority of people have had enough of their preferred administration. Unfortunately for them it's their turn to be in opposition, cue a load of whining about how unfair it is.

Saying that it's not a given they will even have enough MPs to be the opposition if things keep going in the same direction.

It's interesting to note the expectation of Hunt to offset the effects of a GLOBAL economic crisis.

Maggiethecat is another poster with very little nuance on global equivalents happening in every country.

People wanted lockdown well here's lockdown after effects. Fools.

Why not, the Tories have planted so many it's practically a forest.

It's the end of the Brexit fantasy. Our international reputation is in shreds. We look weak and even our allies see it.

What posters should think about is that this "mistake" is not a one off. The government, under Johnson too has made thousands of decisions without thinking about the long term consequences. This was just a mistake that was clear from
the start.

"It's interesting to note the expectation of Hunt to offset the effects of a GLOBAL economic crisis."

It shouldn't need pointing out that a basic expectation of Government that they shouldn't exacerbate existing issues.

"Gilt yields soared and the pound fell immediately after Ms Truss’s brief press conference, in which she took just four questions and gave the same stock answer to each of them. The fact that gilts and sterling had appreciably rallied in the previous 24 hours in response to rumours of a U-turn on the mini-budget and despite the scheduled end of the Bank of England’s emergency bond-buying operation, clearly indicates the problem is political and requires a political solution. The market has already forced Ms Truss’s hand several times in this crisis largely of her making. It looks certain to do so again."

My emphasis.

Lifted from The Times editorial Broken Confidence "Liz Truss's decision to sack Kwai Kwarteng and U turn on corporation tax was a necessary but far from sufficient step towards restoring economic stability".

The reason why the markets haven't calmed down is that they realise Truss has no point. They want get her out and of course since this was all her idea, she should go.

She can't even explain why she sacked Kwasi.

Honestly don't know how anyone has the nerve to go on about "Labour's magic money trees" in the current context.

I'm sick of hearing "But Labour ..." or anything about Jeremy Corbyn. Whatever you think of the Labour party or JC, neither of them caused any of the stuff that is happening. It's down to the party that has been in government for twelve years. Twelve years!

And of course global issues contribute but FFS when will we stop excusing them? They've exacerbated the global issues and royally fucked things up for all of us, and that is on them. THEM. No-one else.

They've lied and cheated and manipulated for years and they've taken the absolute piss out of us. All of us. They simply don't deserve to be in government and they need to fuck off for a good few years until they realise that being in office is a privilege, not where they are entitled to be in order to take the piss and make as many personal gains as possible.

They always blame global forces
I remember the 92 election and the same things were said then too
I just hope that it's the people who say no to more austerity to pay back the money spent on the pandemic that was badly thought out and mostly given to Conservative donors and friends . Money wasted on eat out to help out and dodgy ppe contracts, nightingale hospitals that couldn't function , but cost millions , furlough and loans that was claimed falsely and never recovered , all overseen by a government who didn't have a clue how to handle a pandemic crisis and now willing to let everyone suffer for many of their own failings, not to mention the last few weeks and all the money lost there too by the markets due to a ill thought out ' fiscal event ' that not many people thought was a good idea. Unless your a rich hedge fund manager who knew how to cash in that is! Why didn't they run it past the OBR first ? Complete incompetence all round yet they get away with it by installing new people and blaming everyone else ( that's already the narrative here ) oh it's not us , it's them over there. Or the Labour Party.
The energy crisis was all they had to do at first
Not ideal , but tackle that first then try to balance the books! She wanted to make a Mark out the traps and it's backfired.
All we get now is growth and deliver and I doubt they will do either now , instead it'll be more cutbacks and austerity

@RedAppleGirl - are you another one spouting that all of the mess we’re in is due to global instability?

And where else has had the spooked market, run on the pound, drastic (not incremental) increase in the interest rate?

Interesting that the media thing that someone’s opinion who deals with fiction written by other people’s worth having

Like Farage?