Will Liz Truss resign today?

[sunnydaytoday0]

Or maybe Tuesday at the latest? Would she really want to face the absolute public humiliation of PMQs on Wednesday?

At least by April energy usage does drop. The interest rates might level off a bit
It's shit , but it might be less shit. Can but hope.
It's the cutbacks that will hit hard and so many businesses rely so heavily on energy to survive.
I just hope they don't try and bury these cuts away.
We need to know what's going to be hit ( again )

Austerity round 2.

How many cuts to their budget can schools and the health service take?

Time for a general election. This mess needs to end.

Ben Chu AT BenChu_
Initial reaction to Jeremy Hunt moves this morning - some quick calculations.

Briefing suggests OBR was projecting medium term fiscal hole of £70bn.

HMT estimates all tax reversal now raise £32bn...

...so still leaves £38bn hole to get debt falling as share of GDP in three years.

Assume that favourable market reaction to U-turns lowers Gilt yields and interest rates by 1% - takes around £10bn off fiscal hole...

...still implies £28bn fiscal hole & £28bn of spending cuts.

So the question for markets: are those cuts politically deliverable by Hunt/Truss?

Worth noting that the NI hike reversal and the stamp duty cuts in the #miniBudget were costed by HMT at around £17bn a year by 2026-27 - surely a reversal of those (in the end) can't be ruled out too if spending cuts deemed politically impossible

Early indications are the market is reacting well. If you reverse the NI hike reversal and stamp duty cuts, that leaves a hole of £11 billion.

Thats bad. But '£11 billion bad' is not '£70 billion bad', though.

So however you spin this budget, it is better for us all. But still shit. And didn't need to happen.

@BonesOfWhatYouBelieve

maybe a bit of confusion? I think we agree?! But I honestly don't have the strength to go through the thread again!

My bottom line. It's all a bloody shit show & NONE of them, in any party, are fit to govern and a bunch of kids would do much better!!

In fairness, at least SOMEONE is acting like PM....

A Downing Street spokesman says the PM 'is not resigning', but of course words don't mean anything anymore.

Fantasy result would be national unity govt until the next scheduled election and then the option to keep the unity govt for another term at the election

Who cares. She will just be backed by an equally clueless Tory who also backed “austerity” until they didn’t, backed Brexit until they didn’t, backed the liar clown until they didn’t, backed the mini budget until they didn’t, and is ideologically in favour of an ever more unfair and unequal society.

Sadly, bad as she is I genuinely believe the Labour party will be worse

Genuinely - and respectfully - how?

We've adopted the German political power structure

🙄🙄🙄🙄🙄

of course no one gets paid to
promote Labour on SM/websites.

🤣🤣🤣🤣🤣🤣

Faisal Islam is saying Hunt wants to incentive energy efficiency use and thats the key to look for.

Faisal was saying something about scheme in Germany where people are encouraged to use less and get financial reward for doing so.

Thats what I would like to see tbh. Regardless of the fiscal aspect.

In the words of the Tory MP on the radio a little bit ago...

"Fundamentally I believe we can’t expect people to put up with the psychodrama of the Conservative party indefinitely."

Thats what I would like to see tbh. Regardless of the fiscal aspect

I agree.

There's something grimly fasctinating about the spectacle of what a government that knows it has 2 years and no longer in office will do with that knowledge.

In the same way as KamiKwasi was 'not going anywhere' less than 24 hours before his sacking?

I'm not interested in being 'clear' Corbettoninja, I was interested in replying to someone else and clarifying what they said. I'm a voter, an ex-Labour member, neither a politician nor a shill. It's Labour's job to be clear to me. If you have a problem with what I've said in my posts about Labour policy then take it up with the muddled Labour supporters and members who are telling me different things which I'm obviously querying. Or don't and become another reason I won't ever vote Labour again.

I have no great love for Churchill (unusually, I suspect) but he'll be turning in his grave right now.

It is the classic football club owners' response...

How's this for pub quiz trivia: the (soon to be) shortest serving PM is also one who served under two monarchs.

David Cameron and Theresa May have had nasty policies, but they seemed respectable. What makes me laugh is that some Tories talk of Johnson as the vote winner and party saviour - when in fact his election was the start of the rot. Ah but he won a landslide you say - to which I’d say no “Brexit/Get Brexit Done” - a once in a lifetime con job, won a landslide. Of course Corbyn didn’t help matters from the “Red Wall” Labour perspective. Boris Johnson was the moment they let populism take over and stopped being a serious party of government. Johnson was not a Conservative - good or bad. He was just a silly populist. Had they stuck with people like May/Cameron/Hunt, Labour would still be infighting and another Tory win would be on the cards. Now they face being out of power for decades. No way back.

Or don't and become another reason I won't ever vote Labour again.

Just vote for the party that most aligns with your views. Don't foist the responsibility for that onto some random Mumsnetter.

The pound is rallying.

That means imports get cheaper (that means cost of living issues get some relief as food imports cheaper).

Tg for that