Todays budget

[old man]

3 hours ago, Mungler said:

All this bitterness for MPs and the prime minister in a job that which is not at all well paid and even less rewarding. Your local GP consultant will earn more than the PM and probably double what an MP earns and yet it’s all some can focus on. 

Too many people see tax as justified punishment of people who have done well for themselves.

When people can look at tax logically and park the green eye, then we can make some progress. 

The bottom line to paying less tax is for there to be less government expenditure. Indeed, we’ve seen that flooding the government (and any governent agency) with tax money doesn’t result in a proportionate gain (and sometimes any gain) for the money thrown at it. 

I am not as aware of as much green eye, as crass stupidity, dereliction of duty and utter neglect bordering on lunacy to force the country into this dire situation just to satisfy the wishes of a few?  Words almost fail!

No more comment from me here.

 

[Lloyd90]

10 minutes ago, old man said:

I am not as aware of as much green eye, as crass stupidity, dereliction of duty and utter neglect bordering on lunacy to force the country into this dire situation just to satisfy the wishes of a few?  Words almost fail!

No more comment from me here.

 

👍🏻👍🏻👍🏻

[Weihrauch17]

23 minutes ago, old man said:

I am not as aware of as much green eye, as crass stupidity, dereliction of duty and utter neglect bordering on lunacy to force the country into this dire situation just to satisfy the wishes of a few?  Words almost fail!

No more comment from me here.

 

This, absolute insanity from KK and Truss.  Crashing the housing market, mortgages unaffordable for anyone on variable or coming off fixed deals, thousands of businesses to the wall and increased interest payments on Govt debt all to give 1% of the population already loaded more money.  All in the middle of a huge cost of living crisis, it totally smacks of deliberate sabotage of the economy.  

Edited September 27, 2022 by Weihrauch17

[Mungler]

16 minutes ago, old man said:

I am not as aware of as much green eye, as crass stupidity, dereliction of duty and utter neglect bordering on lunacy to force the country into this dire situation just to satisfy the wishes of a few?  Words almost fail!

No more comment from me here.

 

Very constructive. A compelling rational argument you put forward. Oh hang on…

Come on then, what’s the solution clever clogs?

The whole of Europe is looking down the barrel of a grinding drawn out recession if not depression.

Too much money printed during the covid nonsense with all countries blinded by the stage hypnosis for what is a strong cold. Two years of covid wrecked economies, mass printing of money and followed by Putin the loon cutting energy supplies to Europe and power hungry Germany then buying up all available energy sources in the market place and all of which pushing prices up and inflation off the chart.

I have no idea how any government can control inflation which is almost entirely lead by factors external to the domestic economy.

Rather than have a grinding recession Truss has thrown the dice. Some of the early predictions for what the numbers look like with just 1% increase in GDP are amazing; it’s all fully funded and costed with just that 1% increase.

Labour have said they will do the same save that they will tax higher rate earners more and spend more. As above, throwing money at a government department or a government problem just doesn’t work.

What’s the point of Brexit if we don’t play to the strengths that that independence brings? To make the Uk attractive Truss has dropped taxes and removed bonus caps to get people into the city and create Singapore on Thames.

London fuels the GB economy as much as people hate it and want to ignore it. We can’t make anything at cheap as the Far East because we have state assistance, an NHS a minimum wage and employment protection legislation or as well as the Germans who have a 50+ year head start on making premium products.

So what can we do, what are we good at? Those questions are answered by looking to London in the short term. 

 

12 minutes ago, Weihrauch17 said:

This, absolute insanity from KK and Truss.  Crashing the housing market, mortgages unaffordable for anyone on variable or coming off fixed deals, thousands of businesses to the wall and increased interest payments on Govt debt all to give 1% of the population already loaded more money.  All in the middle of a huge cost of living crisis, it totally smacks of deliberate sabotage of the economy.  

All to give 1% more money? 

Are you insane. Do you really think that’s the aim?

There’s no piercing through that green eye with logic for some eh?

[Weihrauch17]

5 minutes ago, Mungler said:

Very constructive. A compelling rational argument you put forward. Oh hang on…

Come on then, what’s the solution clever clogs?

The whole of Europe is looking down the barrel of a grinding drawn out recession if not depression.

Too much money printed during the covid nonsense with all countries blinded by the stage hypnosis for what is a strong cold. Two years of covid wrecked economies, mass printing of money and followed by Putin the loon cutting energy supplies to Europe and power hungry Germany then buying up all available energy sources in the market place and all of which pushing prices up and inflation off the chart.

I have no idea how any government can control inflation which is almost entirely lead by factors external to the domestic economy.

Rather than have a grinding recession Truss has thrown the dice. Some of the early predictions for what the numbers look like with just 1% increase in GDP are amazing; it’s all fully funded and costed with just that 1% increase.

Labour have said they will do the same save that they will tax higher rate earners more and spend more. As above, throwing money at a government department or a government problem just doesn’t work.

What’s the point of Brexit if we don’t play to the strengths that that independence brings? To make the Uk attractive Truss has dropped taxes and removed bonus caps to get people into the city and create Singapore on Thames.

London fuels the GB economy as much as people hate it and want to ignore it. We can’t make anything at cheap as the Far East because we have state assistance, an NHS a minimum wage and employment protection legislation or as well as the Germans who have a 50+ year head start on making premium products.

So what can we do, what are we good at? Those questions are answered by looking to London in the short term. 

 

All to give 1% more money? 

Are you insane. Do you really think that’s the aim?

There’s no piercing through that green eye with logic for some eh?

I think you are the one who is insane!! 

[TIGHTCHOKE]

Mungler, some sanity. Thank you.  

Edited September 27, 2022 by TIGHTCHOKE

[Jaymo]

18 minutes ago, Weihrauch17 said:

This, absolute insanity from KK and Truss.  Crashing the housing market, mortgages unaffordable for anyone on variable or coming off fixed deals, thousands of businesses to the wall and increased interest payments on Govt debt all to give 1% of the population already loaded more money.  All in the middle of a huge cost of living crisis, it totally smacks of deliberate sabotage of the economy.  

Well blow me down with a feather, I didn’t realise the tax cuts had been reversed to ‘only’ benefits the highest earners? 
Basic rate, as in most ‘actual’ tax payers benefit. 
 

Love how this is out at the feet and somehow the UK government’s fault for cost of living etc, when pretty much all other nations are experiencing the same. 
Did you choose to ignore an earlier comment that the Euro is also at a low against the dollar. Or does that not suit the narrative? 
 

Far too many bar room Politician’s and Economics experts for my liking.
 

 

[Weihrauch17]

8 minutes ago, Jaymo said:

Well blow me down with a feather, I didn’t realise the tax cuts had been reversed to ‘only’ benefits the highest earners? 
Basic rate, as in most ‘actual’ tax payers benefit. 
 

Love how this is out at the feet and somehow the UK government’s fault for cost of living etc, when pretty much all other nations are experiencing the same. 
Did you choose to ignore an earlier comment that the Euro is also at a low against the dollar. Or does that not suit the narrative? 
 

Far too many bar room Politician’s and Economics experts for my liking.
 

 

It is the 45% > 40% that has crashed the markets and the pound that will lead to large interest rate rises that will cripple many increase inflation and screw the economy big time in the middle of a cost of living crisis, the rest of it was already known and hadn't caused much reaction.  Total madness.  The Govt are partly to blame for the cost of living crisis with their insane woke energy policy.

Edited September 27, 2022 by Weihrauch17

[Mungler]

6 minutes ago, Weihrauch17 said:

It is the 45% > 40% that has crashed the markets and the pound that will lead to large interest rate rises that will cripple many increase inflation and screw the economy big time in the middle of a cost of living crisis, the rest of it was already known and hadn't caused much reaction.  Total madness.

No it’s not.

When the markets don’t know and don’t see it coming they spook. Once a spook sets in then come the speculators and another kicking comes. It will sort itself though.

In the meantime do look at the pound to the euro (not that bad) and the euro to the dollar (awful).

While the US dollar is as strong as it is and the Fed keeps increasing rates, everyone else follows.

However, England has always been lucky. If Putin gets knocked off in the short term the bounce back boom will be epic.

Nothing will get any better until Ukraine resolves.

.

Edited September 27, 2022 by Mungler

[Weihrauch17]

21 minutes ago, Mungler said:

No it’s not.

When the markets don’t know and don’t see it coming they spook. Once a spook sets in then come the speculators and another kicking comes. It will sort itself though.

In the meantime do look at the pound to the euro (not that bad) and the euro to the dollar (awful).

While the US dollar is as strong as it is and the Fed keeps increasing rates, everyone else follows.

However, England has always been lucky. If Putin gets knocked off in the short term the bounce back boom will be epic.

Nothing will get any better until Ukraine resolves.

.

Lets see what the interest rates are early next year, KK is totally recklessly playing Russian Roulette with tens of millions of peoples lives at the very worst time.

[Mungler]

11 minutes ago, Weihrauch17 said:

Lets see what the interest rates are early next year, KK is totally recklessly playing Russian Roulette with tens of millions of peoples lives at the very worst time.

Well, watch the US rates, there’s what’s killing everyone.

US rates are going up, we / Europe will have to follow. Food inflation in the US is in double digits.

And do tell, how would you keep interest rates low in the current environment and having regards to US rates? 

Sept 27 (Reuters) - The U.S. Federal Reserve will need to raise interest rates to a range between 4.50% and 4.75%, Chicago Fed President Charles Evans said on Tuesday, a more aggressive stance than he has previously embraced that underscores the central bank's hardening resolve to quash excessively high inflation.

Edited September 27, 2022 by Mungler

[Scully]

7 minutes ago, Weihrauch17 said:

Lets see what the interest rates are early next year, KK is totally recklessly playing Russian Roulette with tens of millions of peoples lives at the very worst time.

😂Talk about melodramatics! People are so keen to repeatedly tell me that I’m so much worse off than I’ve ever been due to Tory policy ( or a lack of ) but the fact is none of the doom and gloom merchants, covid, energy crisis, Brexit etc etc etc, have had any effect on my standard of living whatsoever. 
They keep telling me ‘it’s coming’, but they kept saying that years ago also. 🤷‍♂️
 

[Jaymo]

13 minutes ago, Weihrauch17 said:

Lets see what the interest rates are early next year, KK is totally recklessly playing Russian Roulette with tens of millions of peoples lives at the very worst time.

The alternative was rampant inflation to a far greater level than is predicted. 
Would Labour have come up with anything different? I doubt it! 

Edited September 27, 2022 by Jaymo

[Cosmicblue]

57 minutes ago, Mungler said:

Very constructive. A compelling rational argument you put forward. Oh hang on…

Come on then, what’s the solution clever clogs?

The whole of Europe is looking down the barrel of a grinding drawn out recession if not depression.

Too much money printed during the covid nonsense with all countries blinded by the stage hypnosis for what is a strong cold. Two years of covid wrecked economies, mass printing of money and followed by Putin the loon cutting energy supplies to Europe and power hungry Germany then buying up all available energy sources in the market place and all of which pushing prices up and inflation off the chart.

I have no idea how any government can control inflation which is almost entirely lead by factors external to the domestic economy.

Rather than have a grinding recession Truss has thrown the dice. Some of the early predictions for what the numbers look like with just 1% increase in GDP are amazing; it’s all fully funded and costed with just that 1% increase.

Labour have said they will do the same save that they will tax higher rate earners more and spend more. As above, throwing money at a government department or a government problem just doesn’t work.

What’s the point of Brexit if we don’t play to the strengths that that independence brings? To make the Uk attractive Truss has dropped taxes and removed bonus caps to get people into the city and create Singapore on Thames.

London fuels the GB economy as much as people hate it and want to ignore it. We can’t make anything at cheap as the Far East because we have state assistance, an NHS a minimum wage and employment protection legislation or as well as the Germans who have a 50+ year head start on making premium products.

So what can we do, what are we good at? Those questions are answered by looking to London in the short term. 

 

All to give 1% more money? 

Are you insane. Do you really think that’s the aim?

There’s no piercing through that green eye with logic for some eh?

Well said Mungler.

I'm up for giving Truss and team a chance, I haven't voted for the Tories in the last two elections for reasons that will annoy some of the keyboard warriors here - a lot.

The UK is up a creek without a proverbial paddle on so many fronts now that it needed something wild and radical - hammering the upper rate tax payers is easy.  I get paid just shy of £8k a month before tax and see the Inland revenue waltz off with £2633.50 of it - it's not exactly an incentive to work harder so I'll see what the current leadership can do.

[Lloyd90]

6 minutes ago, Scully said:

😂Talk about melodramatics! People are so keen to repeatedly tell me that I’m so much worse off than I’ve ever been due to Tory policy ( or a lack of ) but the fact is none of the doom and gloom merchants, covid, energy crisis, Brexit etc etc etc, have had any effect on my standard of living whatsoever. 
They keep telling me ‘it’s coming’, but they kept saying that years ago also. 🤷‍♂️
 

The current big increases in the cost of food, fuel, energy, and mortgages haven’t impacted your standard of living in the slightest? 

[Weihrauch17]

22 minutes ago, Scully said:

😂Talk about melodramatics! People are so keen to repeatedly tell me that I’m so much worse off than I’ve ever been due to Tory policy ( or a lack of ) but the fact is none of the doom and gloom merchants, covid, energy crisis, Brexit etc etc etc, have had any effect on my standard of living whatsoever. 
They keep telling me ‘it’s coming’, but they kept saying that years ago also. 🤷‍♂️
 

We are not at 7% yet!  It might not effect you if you don't have a mortgage but it will cripple millions of private mortgage payers and businesses if it comes to fruition. 

21 minutes ago, Jaymo said:

The alternative was rampant inflation to a far greater level than is predicted. 
Would Labour have come up with anything different? I doubt it! 

You think KK and the BOE being at loggerheads pulling in different directions is good for inflation or the country!

Edited September 27, 2022 by Weihrauch17

[Mungler]

4 minutes ago, Lloyd90 said:

The current big increases in the cost of food, fuel, energy, and mortgages haven’t impacted your standard of living in the slightest? 

Food - supply chain issues, foreign global demand (Ukraine wheat harvest trashed), international trade in dollars, lack of fertiliser to improve yields (co2 and fertiliser being a by product of the Russian gas industry). 

Energy - Ukraine. The end. Massive inflationary pressures adversely effecting the cost of everything.

Mortages - rates have been too low and have had to get off the floor at some point. But interest rates is the only tool governments have to wrestle inflation.

Not sure how these non domestic issues are easily resolved.

The only criticism I’d make of the government (and this applies to 99% of all governments across the planet) is the covid economy wrecking nonsense that’s gone on. 

[Newbie to this]

10 minutes ago, Weihrauch17 said:

We are not at 7% yet!

Can't wait. Double figures would be better 

[Weihrauch17]

2 minutes ago, Newbie to this said:

Can't wait. Double figures would be better 

I take you don't have kids with a mortgage!

[Scully]

19 minutes ago, Lloyd90 said:

The current big increases in the cost of food, fuel, energy, and mortgages haven’t impacted your standard of living in the slightest? 

I’ve noticed price increases of course, but I can’t say they’ve had an impact on my standard of living at all. 🤷‍♂️
I suppose it all depends on what you want out of life. 
I’m mortgage free now, and self employed, and can’t deny that in the past interest rates, recessions, redundancies etc, had an impact, but you just get on with it don’t you? It’s not like you have a choice, especially with kids and a mortgage, but to suggest Russian roulette is being played with the lives of millions of people is simply straight out of the Ladybird book of Hysterics! 

[Weihrauch17]

3 minutes ago, Scully said:

I’ve noticed price increases of course, but I can’t say they’ve had an impact on my standard of living at all. 🤷‍♂️
I suppose it all depends on what you want out of life. 
I’m mortgage free now, and self employed, and can’t deny that in the past interest rates, recessions, redundancies etc, had an impact, but you just get on with it don’t you? It’s not like you have a choice, especially with kids and a mortgage, but to suggest Russian roulette is being played with the lives of millions of people is simply straight out of the Ladybird book of Hysterics! 

Not at all, he absolutely is and can walk away with millions in the bank when it all blows up much like Johnson and Sunak.

Edited September 27, 2022 by Weihrauch17

[Mungler]

1 minute ago, Weihrauch17 said:

Not at all, he absolutely is and can walk away with millions in the bank when it all blows up.

Really?

You really think that this is about personal gain for Truss and the other politicians. 

Nothing else to it. No other factors?

Blimey, even Martin Lewis gets it.

 

[Weihrauch17]

2 minutes ago, Mungler said:

Really?

You really think that this is about personal gain for Truss and the other politicians. 

Nothing else to it. No other factors?

Blimey, even Martin Lewis gets it.

 

Where did I say it was about personal gain?  I simply stated he can have a play at being Chancellor like Sunak cock it up and be wealthy enough to walk away and have no come backs personally leaving others carrying the can just as Sunak did.

[Mungler]

1 minute ago, Weihrauch17 said:

Where did I say it was about personal gain?  I simply stated he can have a play at being Chancellor like Sunak cock it up and be wealthy enough to walk away and have no come backs personally leaving others carrying the can just as Sunak did.

For sure. Sunak and his family have more money than god.

He was a liberal not a Tory. Far to easy for him to give tax payer money away.

[Scully]

7 minutes ago, Weihrauch17 said:

Not at all, he absolutely is and can walk away with millions in the bank when it all blows up much like Johnson and Sunak.

Or like most of them really, and not just Tory politicians?

You give the impression you think this is some sort of apocalyptic event, that economic ( actual or feared ) crisis is something new. It isn’t. It happens. People get through it by making the best of things, and move on. Millions of lives aren’t being put at risk. 
It’s not like we’re at war. Get a grip.