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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Is The IMF taking Over perhaps just what the country needs

530 replies

WaitingInForMyFoodShopping · 01/09/2025 08:55

Ok bear with me. This sounds like an idiotic thing to say because if the IMF are involved it means the country is officially in a mess and the IMF will slash spending and enforce their own budgets and rules. So anyone on benefits might lose them, NHS funding will likely go down, same for the police force etc

It just occurred to me today that the country is in a complete mess and there isn't really any end in sight.

Headlines today - I didn't read the detail but I am just getting more angry, helpless feeling and frustrated and want 'somebody' who has some balls to step in and say enough. Things change from today. Todays headlines are rising taxes, 1/10 high school kids on benefits, families of migrants can claim benefits from day 1 even if they don't speak english.

Now i will caveat this by saying the housing market does need sorted but lets be honest that's not what they are trying to do here - it's just about raising taxes. I also say there is another articles claiming ' a crackdown on bring families into Britain' - something that made me snort with derision giving the whole small boats/protests going on just now.

I mean lets just get to the point. Does ANYONE think RR/KS are able to fix this mess. I know they didn't cause it. I know they have been in office less than a year but if we give them another year are they able to fix it. I personally don't think so. It is going to need someone very tough to brave the mess and take it in hand (Maggie Thatcher where are you now).
So what are we left with - voting Reform - which I have joked about doing but i don't actually think that is the way to go. That's borne out of desperation. So who is going to fix it then.

AIBU to think a complete reset, painful as it will be by the IMF is just what the country needs?

House prices drop unexpectedly amid property tax fears - latest updates

The ‘ludicrous’ migrant family rule pushing councils to breaking point

One in 10 secondary schoolchildren on disability benefits

OP posts:
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19
1dayatatime · 02/09/2025 19:55

Tryingtokeepgoing · 02/09/2025 13:23

Is now the time to mention that according to the press in France 30 year government bond yields have now reached 5.68%, almost 1% higher than the spike after the Truss mini disaster, I mean budget..?

Obviously the French are looking to distract from the dire situation they are in fiscally, but the gist of it is as follows:

“… GBP has fallen this morning, and the move is significant for the UK. The selloff of GBP reflects growing investor concerns about the UK governments fiscal position. Rising borrowing costs will make the chancellor's task even more difficult. Higher yields increase the cost of servicing government debt. This creates a vicious cycle where fiscal concerns drive up borrowing costs, which in turn worsen the fiscal position. The GBP is notably down Vs the Euro and US Dollar on the back of this move.”

Is there a risk that a falling pound means more imported inflation? With the inevitable pressure against further interest rate cuts?

whilst the IMF coming in to bailout the UK looks very unlikely, at least for the next few years, there is a real prospect of the IMF having to bail out France.

if that happens then all eyes will be on the UK which maybe self fulfilling if there is a sell off in the £.

SemiRetiredLoveGoddeess · 02/09/2025 20:04

The IMF practically bank rolled the UK in the 1970's when Labour were in power, high inflation around 14 per cent and nearly 3 million without jobs. Three day weeks, lights off, rubbish not collected etc.

This is why and how Thatcher came.into power by the way.

All of these organisations whether it is the EU, the IMF and various Economic Summits Davio s,Are all really controlled by big business. energy companies and billionaires.

They have and still do pull all the strings.

MsVisual · 02/09/2025 20:17

SemiRetiredLoveGoddeess · 02/09/2025 20:04

The IMF practically bank rolled the UK in the 1970's when Labour were in power, high inflation around 14 per cent and nearly 3 million without jobs. Three day weeks, lights off, rubbish not collected etc.

This is why and how Thatcher came.into power by the way.

All of these organisations whether it is the EU, the IMF and various Economic Summits Davio s,Are all really controlled by big business. energy companies and billionaires.

They have and still do pull all the strings.

3 day week was under a Tory government (Ted Heath)

As was 3 million unemployed, which was in the 80s under Thatcher

SerendipityJane · 02/09/2025 20:23

3 day week was under a Tory government (Ted Heath)

I lit the candles for my folks to come home.

MsVisual · 02/09/2025 21:49

SerendipityJane · 02/09/2025 17:31

Well it doesn't seem to have translated into economic dominance.

Suggesting that energy prices are merely part of the mix.

And there's no reason why the UK couldn't run on 100% nuclear energy at about 0.001p per kWh if we wanted. It's totally do-able as they say.

It is amazing the total horse shit that some people post

The FT estimates full life costs of Sizewell C to be around 17-18p / kWh

This compares to about 12p for gas and 5p for offshore wind

There may be an argument for nuclear but pulling made up numbers out of your arse doesn't help your case

SemiRetiredLoveGoddeess · 02/09/2025 23:25

SerendipityJane · 02/09/2025 20:23

3 day week was under a Tory government (Ted Heath)

I lit the candles for my folks to come home.

Sorry, what l meant to say that the problems that led to the 3 million unemployment figure were started off and made worse by both the Conservative and Labour Govts.in the Seventies and Eighties.

Both Edward Heath and Jim Callaghan were very inept in the manner of Starmer. Harold Wilson was well past his best. Labour party was in power. From74 to 79.

Jim Callaghan was the IMF's best customer. Google it
A bit like the EU who poured money onto. The Greeks sever alyears ago

Labour could not contain wage demands from bullying Unions in response to high inflation.

Things also seemed worse then because people were not having zIn and. Out of Work benefits thrown at them. No housing benefits and tax credits etc. Or Universal Credit.

Food banks were unheard of then by the way..

I think AI ,Machine Learning and Robots going to be the biggest threat in the future.

.

Alexandra2001 · 03/09/2025 08:04

SemiRetiredLoveGoddeess · 02/09/2025 23:25

Sorry, what l meant to say that the problems that led to the 3 million unemployment figure were started off and made worse by both the Conservative and Labour Govts.in the Seventies and Eighties.

Both Edward Heath and Jim Callaghan were very inept in the manner of Starmer. Harold Wilson was well past his best. Labour party was in power. From74 to 79.

Jim Callaghan was the IMF's best customer. Google it
A bit like the EU who poured money onto. The Greeks sever alyears ago

Labour could not contain wage demands from bullying Unions in response to high inflation.

Things also seemed worse then because people were not having zIn and. Out of Work benefits thrown at them. No housing benefits and tax credits etc. Or Universal Credit.

Food banks were unheard of then by the way..

I think AI ,Machine Learning and Robots going to be the biggest threat in the future.

.

Inept? or both Heath and Callaghan had to deal with a trebling in oil prices, global inflation, in an age when we had no alternatives like LNG or Renewables, let alone NS oil...

If Labour gave into "Bullying Unions" how come we had years of strikes??? can't have both....

No food banks? not really true, plenty of charities provided help but of course those "Bullying unions" and higher pay in real terms, meant people had more disposable income, so working people didn't need food banks.... or so much in working benefits either.....

Thatcher had North Sea Oil, yet despite that, she managed to run down the UK and give us 2 or was it 3 recessions? a self inflicted economic crisis with the ERM, sell off everything we once owned, now in the hands of foreign companies..... huge unemployment and destruction of uk manufacturing.

The only real benefit was slashing taxes for the well off.

WaitingInForMyFoodShopping · 03/09/2025 08:43

Looks like KS doesn't want the IMF either

Sir Keir Starmer to push for welfare cuts after No 10 reset

OP posts:
WaitingInForMyFoodShopping · 03/09/2025 08:53

Actually I do feel better seeing that KS seems to be taking action this week.

The reset of staff and the above I have just posted re him cutting benefits in todays telegraph

Have to wait and see if he actual does anything impactful or just talks about it but where there is action there is renewed hope ....

Now should I start worrying about all the temporary morgues the goverment is buying. Seriously what is that all about. I thought Covid over winter, then I thought maybe they are expecting the riots/protests to cause deaths. Now I'm thinking it might actually be do to with this.

China military parade latest news: Putin holds talks with Kim

I have concluded I need to stop reading the news. Seriously though worrying times

OP posts:
EasternStandard · 03/09/2025 09:04

WaitingInForMyFoodShopping · 03/09/2025 08:43

Looks like KS doesn't want the IMF either

Sir Keir Starmer to push for welfare cuts after No 10 reset

They already tried this.

BIossomtoes · 03/09/2025 09:07

WaitingInForMyFoodShopping · 03/09/2025 08:53

Actually I do feel better seeing that KS seems to be taking action this week.

The reset of staff and the above I have just posted re him cutting benefits in todays telegraph

Have to wait and see if he actual does anything impactful or just talks about it but where there is action there is renewed hope ....

Now should I start worrying about all the temporary morgues the goverment is buying. Seriously what is that all about. I thought Covid over winter, then I thought maybe they are expecting the riots/protests to cause deaths. Now I'm thinking it might actually be do to with this.

China military parade latest news: Putin holds talks with Kim

I have concluded I need to stop reading the news. Seriously though worrying times

What action do you think Starmer can take unilaterally? Any policy changes rely on his MPs who soundly rejected the proposed benefit changes. Staff turnover in Downing Street is irrelevant.

WaitingInForMyFoodShopping · 03/09/2025 09:08

EasternStandard · 03/09/2025 09:04

They already tried this.

I know. I'm just hoping that with the IMF threat and the growing debt and looming budget he has been given a kick up the butt and we will actually see some real changes now.

I mean it's kind of 'do or die' for him now isn't it

OP posts:
WaitingInForMyFoodShopping · 03/09/2025 09:12

BIossomtoes · 03/09/2025 09:07

What action do you think Starmer can take unilaterally? Any policy changes rely on his MPs who soundly rejected the proposed benefit changes. Staff turnover in Downing Street is irrelevant.

Honestly I don't know.

I suppose I just hope that with all the IMF talk and increasing debts that the result might be different this time. Surely the MP's who have to vote on this might have had a rethink.

I also just think that sidelining RR (although that's not official) was a good move cos public opinion of her is low and nobody has any confidence in her

OP posts:
EasternStandard · 03/09/2025 09:14

WaitingInForMyFoodShopping · 03/09/2025 09:08

I know. I'm just hoping that with the IMF threat and the growing debt and looming budget he has been given a kick up the butt and we will actually see some real changes now.

I mean it's kind of 'do or die' for him now isn't it

I’m not sure many of the MPs get it, if any.

BIossomtoes · 03/09/2025 09:16

EasternStandard · 03/09/2025 09:14

I’m not sure many of the MPs get it, if any.

For once I agree with you. Some of them do but not enough.

Julen7 · 03/09/2025 09:20

EasternStandard · 03/09/2025 09:14

I’m not sure many of the MPs get it, if any.

How can they not get it 🤷‍♂️

BIossomtoes · 03/09/2025 09:23

Julen7 · 03/09/2025 09:20

How can they not get it 🤷‍♂️

Maybe take a look at some of the media coverage when the vote failed. They were pretty vocal about it.

WestwardHo1 · 03/09/2025 09:27

Successive governments and oppositions have not had the courage to face reality and tell the voters truth about demographics and pensions. Nor about junk food, ill health and the fact that the NHS cannot do what the population demands.

It could have been tackled in a planned, sensible, grown up way. Instead we have this situation.

Alexandra2001 · 03/09/2025 09:27

BIossomtoes · 03/09/2025 09:16

For once I agree with you. Some of them do but not enough.

Issues over cuts, wasn't the savings but who they would affect.... a new stroke victim suffering the same cognitive disfunction as a current claimant would get less or nothing.
A SENs child wouldn't get a taxi... EHCPs withdrawn...

Now i realise some pp's want extra provision for SENs or say they do but they also seem to want benefit cuts too, certainly love to criticise Labour over this subject.

If we have benefit cuts, then we will need to accept much tougher diagnosis, cutting benefits for existing claimants inc children, getting rid of ECHPs which are unaffordable.... more welfare for work schemes...

For the Govt this will mean, on top of "Labour hate pensioners" it'll be "Labour hate the disabled"

Which some on here will chant gleefully

EasternStandard · 03/09/2025 09:29

WaitingInForMyFoodShopping · 03/09/2025 09:12

Honestly I don't know.

I suppose I just hope that with all the IMF talk and increasing debts that the result might be different this time. Surely the MP's who have to vote on this might have had a rethink.

I also just think that sidelining RR (although that's not official) was a good move cos public opinion of her is low and nobody has any confidence in her

The sidelining of Reeves hit the markets. They’re watching for higher tax and spend replacements.

Not even pretending to keep her in but overriding pasts muster.

Alexandra2001 · 03/09/2025 09:30

WestwardHo1 · 03/09/2025 09:27

Successive governments and oppositions have not had the courage to face reality and tell the voters truth about demographics and pensions. Nor about junk food, ill health and the fact that the NHS cannot do what the population demands.

It could have been tackled in a planned, sensible, grown up way. Instead we have this situation.

How could it be done in a planned, sensible grown up way?

Cuts involve taking things away from people, who will moan and moan.... see IHT, see WFA....

TheNuthatch · 03/09/2025 09:34

BIossomtoes · 03/09/2025 09:23

Maybe take a look at some of the media coverage when the vote failed. They were pretty vocal about it.

I was vocal about it too. I don't agree with the way they wanted to cut welfare, they hadn't done the work required to get it right imo.
I have read and heard from a few journos and pods now that welfare cuts will be coming back around. Lord knows how they'll get it through parliament though.

Julen7 · 03/09/2025 09:38

TheNuthatch · 03/09/2025 09:34

I was vocal about it too. I don't agree with the way they wanted to cut welfare, they hadn't done the work required to get it right imo.
I have read and heard from a few journos and pods now that welfare cuts will be coming back around. Lord knows how they'll get it through parliament though.

Isn’t there a welfare review going on (? Timms), won’t they have to wait for the outcome of that?

TheNuthatch · 03/09/2025 09:40

Julen7 · 03/09/2025 09:38

Isn’t there a welfare review going on (? Timms), won’t they have to wait for the outcome of that?

Yes thats what I've heard/read. Obviously just speculation rn, but we may see something around the publication of the Timms review.

Alexandra2001 · 03/09/2025 09:44

TheNuthatch · 03/09/2025 09:34

I was vocal about it too. I don't agree with the way they wanted to cut welfare, they hadn't done the work required to get it right imo.
I have read and heard from a few journos and pods now that welfare cuts will be coming back around. Lord knows how they'll get it through parliament though.

Cuts involve taking things off people and/or a 2 tier benefits system, it can never be done the "right way"

A section of people will not be happy, MPs will reflect this

Phillipson has talked about reducing ECHPs, people very vocal about this, yet they are unaffordable and in many cases, not even delivered.

I would roll back childcare, i fail to see why we should be paying for 30hours free, or rather trying too, its hugely costly....£8bn per year....

But that would lead to huge upset too.

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