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Politics, politics, politics (so long and thanks for all the fish)

Radio news reporting this evening that the queue to see the pound, lying in state in The Treasury, has now reached 3.5 miles.



This is all, more or less, what Sunak said would happen, by the way - 'fantasy economics' was the phrase that he repeated time and again during the leadership hustings.
 
Robspur12 said:
Thanks for the reply GB you always have an interesting take that is worth a read.

I am no economist but in the current situation with the £ tanking, you might think, on a simplistic level, that it would be good for exports. The problem is that exports to our biggest trading partner have also tanked because of Brexit. So with a weak pound imports are dearer and debt becomes more expensive, it's difficult to build up exports because of the restrictions in the EU market. What other levers would be available to get us out of this mess?
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More economic protectionism. Nationalisation of key sectors, state interventions to fill gaps where the market is failing, higher import tariffs on non-essential goods (to get people buying domestically produced equivalents) etc. Fixing the balance of payments doesn't always have to be a race to the bottom.
 
The Chief Secretary to the Treasury, Chris Philp, will write to government departments in the coming days about and identifying spending efficiencies and living within the spending review, a Whitehall source has confirmed.

So, who do we now blame Austerity Mk2 on given we're out of the EU? Labour and Lefties probably.
 
Diamond Lights said:
sorry are you saying the issues facing the UK are being felt by others across the world? LOLZ. UK having higher inflation than Germany despite having lower reliance on Russian gas. It's not a global issue, it's a fudged up govt issue.
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No, I was replying specifically to GB stating the issues are Covid knock on effects.
My point is that yes some of them are - and those are the ones most countries are dealing with and were forecastable.
The current issues however.......there are literally no words for how dangerous and incompetent this self inflicted wound is.

Pension funds nearly collapsed today ffs!!!!
We have a new king now - time to go old school. Dissolve parliament and meet at Tyburn.
 
Diamond Lights said:
The Chief Secretary to the Treasury, Chris Philp, will write to government departments in the coming days about and identifying spending efficiencies and living within the spending review, a Whitehall source has confirmed.

So, who do we now blame Austerity Mk2 on given we're out of the EU? Labour and Lefties probably.
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Nice timing - Civil Service Union has just balloted in strike action.

To be fair, that's not a bad efficiency saving!
 
Diamond Lights said:
Yeh, high wages was illegal under EU

:tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy::tearsofjoy:

Incredible that as of August 2022, when we're not in the EU, we have had the biggest fall in real wages in 20 years. Christ on a bike. This is up there with Daniel Hannan blaming the £ drop on Labour
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It's a policy decision of the current government. But, now we have a closed labour market, a better government now has the power to back workers over big business and impose high wages and conditions
 
Diamond Lights said:
The Chief Secretary to the Treasury, Chris Philp, will write to government departments in the coming days about and identifying spending efficiencies and living within the spending review, a Whitehall source has confirmed.

So, who do we now blame Austerity Mk2 on given we're out of the EU? Labour and Lefties probably.
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Hard to cut something further that’s already cut to the bone.
 
monkeybarry said:
The big question is:

Incompetence?
Or.
Deliberate?

Genuinely not sure which is worse.

Either way, there needs to be a GE called asap or riots.
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Track the money backwards is a good way of finding out, though there are always useful macarons in any nefarious enterprise. Say this precipitates the collapse of the NHS for example (not beyond the realms of possibility). Who would benefit from that? Those private sector operators that jump in to provide services. Whose strings are they pulling?
We're in shock doctrine territory.
 
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Mikey10 said:
Hard to cut something further that’s already cut to the bone.
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Wage rises are currently in final negotiation stage.......

23/24 budgets being planned. Everything can be cut - it's just a reduction in service and/or personnel.
Ironically, the immediate and easy cost savings is allow work from home - building rent and running costs slashed quickly.
 
Gutter Boy said:
France has state owned industries, but it is illegal for them to have nationalised industries. So EDF is state owned, but it has to compete in an open marketplace - its not allowed to run the whole sector nor receive state aid. With Brexit we are now allowed to establish 'British Energy' and have them own and provide all means of energy.

EU law forces their members to only have 2 rates of VAT (standard at least 15%, low at least 5%). And low can only contain certain named items - famously not including tampons. So it prevents members from say doing things like - EVs 0% VAT, petrol cars 15% VAT, diesel cars 25% VAT. Or setting VAT by distance between point of production and point of consumption, to encourage localism. It doesn't allow green taxes, because the whole EU system is designed to protect big businesses.
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It is not illegal at all. What is illegal in the Netherlands is to privatise utilities! Water, electricity and gas networks are publicly owned and laws are in place to ensure they can not be privatised. Hmm doesn't sit well with your nonsense.

So we could have had say 5% VAT on EVs and 20% on ICE cars when in the EU...but we didn't. And we still don't now. It was worth leaving tho? :confused:
 
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