FlyTheNest

RogerOThornhill wrote: ↑Mon 17 Oct, 2022 9:28 am Good morning.
Great thread...

gilsey wrote: ↑Mon 17 Oct, 2022 9:57 am The free financial markets destroyed the Free Marketeers.
Who knew we'd have something to thank them for?
The latter will be turning up again like bad pennies tho, I expect.

Cutting governent spending and lifting taxes may calm the markets, but it will also push the UK into a deeper downturn.

Kit Juckes, currency expert at French bank Société Générale, says that once the market volatility has receded, we’ll be left with “recession, austerity, higher rates and a lingering sense that this sterling crisis, more than its predecessors, was homemade and avoidable”.

Juckes adds:

Jeremy Hunt will give a statement on fiscal policy at 11 am, before speaking to Parliament this afternoon. He hopes to deliver a clear message that stabilises the gilt market and restores confidence. The measures will include spending cuts and tax increases, which will deepen the economic downturn. That should result in lower gilt yields and a lower peak in policy rates than markets currently discount (implausibly, above 5%).

More importantly perhaps, lower rates (along the length of the curve) would result in lower debt interest costs and improve the OBRs assessment of the long-term outlook. Let’s hope he doesn’t disappoint.

allocating spending to protect key services and finding sustainable revenue streams to support that

RogerOThornhill wrote: ↑Mon 17 Oct, 2022 1:55 pm C'mon, really?

gilsey wrote: ↑Mon 17 Oct, 2022 2:38 pm

RogerOThornhill wrote: ↑Mon 17 Oct, 2022 1:55 pm C'mon, really?

Very, very suspicious of Mordaunt's intentions whilst fully accepting that she's far, far better than Truss at public speaking.

Which is the main reason Truss shouldn't allow it. Demonstrates that she's been given no choice?

RogerOThornhill wrote: ↑Mon 17 Oct, 2022 3:04 pm I see that Emma Dent Coad has been prevented for standing again in Kensington & Chelsea.

I'm assuming this is to block anyone who supported Corbyn...

refitman wrote: ↑Mon 17 Oct, 2022 5:41 pm I see that Graham Norton has been driven off Twitter by the Terfs, for having the temerity to suggest listening to trans people, when it comes to trans issues. Graham Linehan even called him "homophobic"?!

In the 2016 EU referendum we started a process that would spark argument, placards, parliamentary turmoil, court cases and two early general elections.

The UK decided that it wished to leave a trading bloc with whom it had been enjoying near frictionless trade in goods for 43 years,

and 4 years after that vote, despite all the difficulties of doing so, we did indeed leave.

The political dramas and negotiations were nothing compared to the massive effort needed from our civil servants to reinvent our border, transpose the statute book and get every business in the land prepared for several eventualities.

What sort of country does that? Why upset the status quo? Why risk upsetting friends and neighbours?

It was the defensiveness and widespread perception that the previous Commissioner Cressida Dick was in denial that led to her ousting in February.

The Guardian understands Rowley was aware while Dick was commissioner that the things were going badly wrong in the Met. He said the Casey report highlighted failings, prejudice and corruption worse than he feared.

The London mayor, Sadiq Khan, who ousted Dick believed she lacked a robust enough plan to deal with scandals engulfing the force, said: “I was concerned that a serious cultural problem had developed within the Met which was allowing racist, sexist and homophobic behaviour to be downplayed or left unchallenged. The interim findings of this review not only confirm my concerns, but reveal a situation even worse than feared.”

RogerOThornhill wrote: ↑Mon 17 Oct, 2022 6:25 pm So the 'urgent business' that kept La Truss from answering the UQ was a meeting with Graham Brady?

Pre-arranged apparently but even so. That must have been...interesting.