Current Affairs

[towny44]

However, the UK Government have previously not created the crisis!

I think you will find that most economic crises that affected the UK could probably be blamed on the govt of the day Gill. Truss is only following through on her promises during the leadership campaign, so it should not have come as a surprise to the markets that tax cutting would be high on the agenda.
However I don't agree with most of her handouts to the wealthy, which I assume is what has spooked the market. I would have preferred that the govt kept the funds from these handouts just as an insurance they had it available in case it was needed to ensure no one starves or freezes to death this winter.
PS I do think it's a bit ungrateful of the bankers not to to have rallied to her support however.

[Kendhni]

I take onboard what you are saying Ken which is why it matters not which side of the fence you sit on because it is clear that something had to be done…. it takes a strong leader and an innovative chancellor to break with an economic landscape that has seen this country stagnate through fear of taking a different path, a path which I hope will reap great benefits for the future of our country.

The path of 'trickle down' economics has been tread before but it has never been a great success. Heath tried it in the 70's .. it failed. Reagan tried it in the 80's and to some degree it worked. While most economists seem to consider it a myth, I still think it is an interesting strategy, but in the current economic climate it just doesn't make any logical sense. On the plus side I see Andy Griffiths has at least come out to make a statement ... but it needs Truss and Kwarteng to come out of hiding as well (what is it about absent PMs at the time of crisis for the last few years). If they can properly verbalise the plan and long term strategy, including how it is to be funded with proper projections and numbers and scrutiny from the OBR, I think the markets will calm.

As I said above this is going to lead to higher interest rates and a period of real austerity ... that is the second phase ... only after that can we expect our economy to reap any benefits (assuming the strategy works). The poor are going to get poorer, requiring more support and handouts, the rich are going to get richer ... the ever decreasing number in the middle will be left to foot the bill.

[david63]

It strikes me that this current Government has taken the Peter Principle to a whole new level.

[Gill W]

However, the UK Government have previously not created the crisis!

Perhaps you have forgotten the war in Ukraine, the pressure put on oil and gas supplies as a consequence of Putin's actions, the strength of the dollar against the pound and the Euro which are factors the current UK Government are having to deal with.

All countries are facing the same problems.

To my knowledge, no other country’s government interventions at this time have created complete havoc and have tanked their economy. It’s just the U.K. government

[oldbluefox]

All countries are facing the same problems.

To my knowledge, no other country’s government interventions at this time have created complete havoc and have tanked their economy. It’s just the U.K. government

I gave you my opinion in Post #16972 and instead of seeking to trash the government I gave my opinion where I disagreed and what I felt they should do.
Of course it's much easier to trash everything they do without expressing anything positive or debatable. Whatever you think the UK Government did not create the crisis, it is the way they have handled it which has caused the problems.

[oldbluefox]

A nice example of being out of touch from Sir Keir on his PPB.
He was telling us about hard times in his family when they were so hard up they had to have the phone cut off. We didn't even have a phone but here he is telling us all what a hard upbringing he had!!
He hasn't a clue!!!

[Bensham33]

Where is Truss


Frankly dear I don't give a damn.

[Onelife]

Re; post 16977

Fair comments Ken

I agree with you about trickle down economics not having a proven track record but I would suggest the reason for this is more to do with taps not being turned on properly for those who have been left to lick up the drips. One can only hope this won’t be the case under Truss.

If the strategy does prove to be a myth, then we will rightfully end up with ‘taps without washers’ e.g., Labour in power.

I agree with you about timing but they were running out of options to kick start the economy which it has to be said has seen the worst economic drought since the last 2008 recession.

As for Truss and Kwarteng not showing their faces, this could have something to do with parliament being in recess, although I suspect the candles have been burning late into the night preparing for the onslaught which will undoubtably come.

[Onelife]

A nice example of being out of touch from Sir Keir on his PPB.
He was telling us about hard times in his family when they were so hard up they had to have the phone cut off. We didn't even have a phone but here he is telling us all what a hard upbringing he had!!
He hasn't a clue!!!

Yes and the cheeky bu**er was stood in front of our council house not his

[Stephen]

A nice example of being out of touch from Sir Keir on his PPB.
He was telling us about hard times in his family when they were so hard up they had to have the phone cut off. We didn't even have a phone but here he is telling us all what a hard upbringing he had!!
He hasn't a clue!!!

Yes and the cheeky bu**er was stood in front of our council house not his

Argh, another council house resident. Those were the days, tough but fair

[Mervyn and Trish]

For a full rundown of Sir Hindsight's impoverished upbringing seek out the brilliant Tony Capstick's record, 'Capstick Comes Home.'

[Onelife]

A nice example of being out of touch from Sir Keir on his PPB.
He was telling us about hard times in his family when they were so hard up they had to have the phone cut off. We didn't even have a phone but here he is telling us all what a hard upbringing he had!!
He hasn't a clue!!!

Yes and the cheeky bu**er was stood in front of our council house not his

Argh, another council house resident. Those were the days, tough but fair

Actually, I was born in a prefab with very little heating but mom did visit me every day for three months when I was admitted to Warwick hospital with pneumonia. We did however get an upgrade to a council house on doctors prescription.

[Kendhni]

Actually, I was born in a prefab with very little heating

Bloody luxury ... in my day it was a box that once held an Ikea self assembly chest of drawers ... we had to build the box every day.

I remember though as a youngster being very sporty, particularly swimming. I used to love to swim, I remember once winning a race against a lot of competition ... a tremendous day ... then about 9 months later I was born.

[Onelife]

Actually, I was born in a prefab with very little heating

Bloody luxury ... in my day it was a box that once held an Ikea self assembly chest of drawers ... we had to build the box every day.

I remember though as a youngster being very sporty, particularly swimming. I used to love to swim, I remember once winning a race against a lot of competition ... a tremendous day ... then about 9 months later I was born.

At least you can lay claim to being the first Amniotic swimmer to enter a competition

[Stephen]

Onelife
Actually, I was born in a prefab with very little heating

You had heating

[Kendhni]

Onelife
Actually, I was born in a prefab with very little heating

You had heating

He used to rub two children together to create a spark to ignite his collection of ear wax.

[Onelife]

Onelife
Actually, I was born in a prefab with very little heating

You had heating

I do remember the old upright paraffin heater we used to transport round the house.

[Stephen]

Onelife
Actually, I was born in a prefab with very little heating

You had heating

I do remember the old upright paraffin heater we used to transport round the house.

Same here.

Health and safety, what health and safety.

[barney]

I grew up in Brisbane so we had no need for heating.
It was either warm or hot and occasionally it rained.
We returned to the U.K. in November 69 and you can imagine my shock!
Fortunately, our house not only had central heating but also fitted carpets throughout.
My first real hardship was on leaving home and renting cr***y little flats in London.

[Stephen]

I grew up in Brisbane so we had no need for heating.
It was either warm or hot and occasionally it rained.
We returned to the U.K. in November 69 and you can imagine my shock!
Fortunately, our house not only had central heating but also fitted carpets throughout.
My first real hardship was on leaving home and renting cr***y little flats in London.

Spoilt child

[oldbluefox]

Not the same since we left behind cold lino, frost patterns on the windows and hot water bottles which have frozen up in the night.

[Onelife]

Not the same since we left behind cold lino, frost patterns on the windows and hot water bottles which have frozen up in the night.

No doubt you’ll remember breathing out a cloud of cold-water vapour when you dared to put your head above the blankets?

[Stephen]

Not the same since we left behind cold lino, frost patterns on the windows and hot water bottles which have frozen up in the night.

No doubt you’ll remember breathing out a cloud of cold-water vapour when you dared to put your head above the blankets?

Blankets you were posh. We just had straw.

I do remember when winters were winters though and there was ice on the inside of the bedroom window glass. Yes, we had glass and were the envy of the ghetto.

[Onelife]

It was nice to see some of the big guns coming out and supporting Liz Truss fiscal policies. Len Shackleton (professor of Economics) gave a clear indication 'this morning' that he thought she was on the right track to promote economic growth.

[david63]

Says it all

Speaking to BBC Radio Nottingham, Liz Truss said it wasn't "fair to have a recession" or for people to not "get high paying jobs in the future".

First part I can agree with but the second excludes a large proportion of the population.