Rachel from accounts has crashed the economy

[Almn0etd]

So borrowing costs are now even higher than when Liz Truss was around.

The economy is well and truly cooked and in a far worse shape now that Rachel accounts is in charge.

Why isn’t this dominating the news cycle? Because it’s Labour.

The Tories were atrocious. Labour are an indescribable disaster for this country, surpassing the lowest of the low bars. Cue Labour apologists who don’t mind being made poorer and having the country destroyed, as long it’s Labour doing it to them.

Same

I’m going to put a lettuce on the sideboard.

As a small business owner in the construction industry, all I know is that things haven't been this bad since 2008/9. I have had so many phone calls this week from men asking for work. Far more than I would usually get. Many have even offered to work for far less than their standard daily rate. It's soul destroying having to tell them no, as we too have had to reduce staff.

Whats more worrying is who or what will replace her….

Indeed.

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Why is that? We are told everywhere there is a housing shortage. Planning has been torn up. Yet house building is down?
It doesn’t indicate an incoming recession, I don’t know what does.

@poetryandwine it's not just British tech we haven't nurtured - British businesses being taken over by US or EU owned firms due to share prices trading so much under their true value has been a thing for several years now.

It’s true that many UK valuations lag those of the US.

Hence Shell recently (and rightly) threatening to delist from the FTSE.

This latest move in the bond markets will not help equities, obviously.

We don't work in house building so I can't comment on that sector. The changes to NICS have forced us to make changes in our business. There is a nervousness in the sector that bad things are coming I think. I've just never had that many calls chasing work. It's usually us struggling to find more staff.

Same.

Tulip Siddiq meanwhile, could not lie straight in bed…

I too think she’s doomed now. She’s obviously loosing the support of some colleagues. It’s all down to the markets now. But who has any credibility to replace her and make extreme corrections to her budget?

Yvette Cooper (who is another public sector dote), or some unknown treasury cypher.

Neither of which is reassuring.

Hang on, and do bear with me on this, but I have a potential sub for Reeves.

Diane Abbott….

That would just about finish off UK plc !

Yes, you are right.

There would be a lot more police officers on the beat though….

I am not suggesting for one moment she’s a good choice, but she has sounded more coherent when I’ve heard her speak over the last 6 months. I wonder whether she was unwell, or stressed during those car crash interviews. But, if so, then her advisors and the party leader should have made her step down, or at least keep a low profile, until she was better.

Corbyn wasn’t exactly renowned for political nouse.

Who do you think Starmer would choose to replace Reeves @Blossomtoes ?

No idea. 🤷‍♀️

Dh thinks it would be Darren Jones (sp?)

Do I take it that you're all conveniently forgetting Liz Truss' amazing deal with Beijing in the pork markets?

Her astonishing 'reset' of the economy that so stunned the markets that a lettuce lasted longer than she did as Prime Minister?

There’s a dearth of talent in politics in general, and given the sheer number of their MPs, Labour specifically. I wonder whether Wes Streeting has already realised that reforming the NHS is too difficult and would prefer the Chancellor role. He’s realised that Starmer can either let Reeves keep her promise and not put up taxes, or let him him keep his promise - but he can’t have both.

The only person with any cabinet experience is Yvette Cooper I think? But she’s tainted by being married to Ed Balls who was also shadow chancellor…

Oh we remember. And we are grateful that the mistake was recognised and swiftly rectified!! We are concerned at the moment that rather than recognise the mistake and fix it there’s a head in the sand approach. But we all know what the eventual outcome will be, it’s just a matter of how much more damage is done before it happens…

No we haven't forgotten and they lost the election.
I also agree that the Prime Minister should take responsibility for a budget that damages the economy and stuns the markets.

Truss was swift and the correction was too

Sunak pretty much outlined what would happen before it did so was ready

I can’t see anyone in Labour really understanding what’s going on or what to do about it