So far as I understand it's not likely that this debate will lead to an election. There could be some interesting goading of Loopy Liz and her oppo from all sides. Dear StJabbo Parliament is going to debate the petition you signed – “Call an immediate general election to end the chaos of the current government”. https://petition.parliament.uk/petitions/619781 The debate is scheduled for 17 October 2022. Once the debate has happened, we’ll email you a video and transcript. Thanks, The Petitions team UK Government and Parliament
Chances are it will be in Westminster Hall and won’t have any front benchers from either side taking part. Neither will a vote take place afterwards. That’s what happened with the Brexit Second Referendum petition, which had over 6 million signatures. It may be overtaken by events of course. The fact that the Bank of England is considering a deadline on buying government bonds to prop up the economy might have a bearing on Truss’s future.
In what way might the bank’s statement have a bearding on her future ? I admit to not understanding the impact of this statement from them
I was hoping for a bit of verbal biff with plenty of the pregnant silences Miss Truss has been prone to lately.
Because if the BoE stops bailing out the pension funds we won't be just in a recession, we'll be in a meltdown worse than 2008. All of her making, and her Chancellor's.
But how does that impact her future in a practical way? By triggering back benchers to act? In the scenario you describe won't blame be pushed onto the Bank? They are already trying to blame them anyway. JRM is at least. The hardliners are saying the bank increasing interest rates is both the reason the problems (false) and the reason for the high mortgage rates (technically true but they couldn't not increase them)
I suppose it would then be up to the backbenchers sending in letters to the 1922 Committee, and it would be anyone’s guess what happened then.
I recently read (unconfirmed) speculation that enough letters had already been sent but (as far as I am aware) as she is so early in her “reign” no action can be taken, unless they change their rules.
The thing is, a lot of this is a charade of a narrative. Most of the economic damage was already done due to the money printing during the covid lockdowns. The real reason that the pound and other currencies are crashing is because the federal reserve in the US is raising interest rates, and due to the fact that all other fiat currencies are backed by nothing but US treasuries since we came off the gold standard in 1971, all the other currencies are suffering. Truss’s policies were ill thought out, and I think she will be a bad PM. But there is a huge bandwagon against her which is somewhat unfair. It seems to me that the same publications which let Boris off the hook for years are the same that are castigating Truss. And that makes me wary.
The biggest driver of inflation, by far, is corporate profit-seeking. https://mattstoller.substack.com/p/corporate-profits-drive-60-of-inflation The second-biggest driver of inflation is global supply chain issues. 'Fiat currency' isn't particularly high on the list.
Two guys who are 48-50, given no training, dumped in the trenches with no food or water, no equipment beyond a gun, no communication with command. After a couple days they tried to walk back to where they came from, and found out that the Ukrainians had taken that place, so they surrendered. The only thing that approaches the cruelty that Russia shows Ukrainian citizens is the cruelty it shows its own.
NEW: Government accepts its flagship climate strategy is unlawful We are pleased to announce that the Government has confirmed in a letter to the Court and the parties involved in our case with Friends of the Earth and ClientEarth that it will not pursue an appeal against the High Court ruling that its Net Zero strategy is unlawful. In a landmark victory in July, the High Court agreed with us that the Government’s strategy failed to show how the UK’s legally binding carbon budgets will be met. Responding to the news, Jo Maugham, Director of Good Law Project said: “So the Government has been forced to accept that its flagship climate strategy is unlawful. Another embarrassing climbdown. “Rather than threatening communities with fracking, Liz Truss and Jacob-Rees Mogg should focus their efforts on improving the strategy so they meet the UK’s legally-binding climate targets and move away from expensive fossil fuels to deliver on affordable energy. Good Law Project is thrilled to have worked alongside our friends at ClientEarth and Friends of the Earth to deliver this landmark victory.” Friends of the Earth lawyer, Katie de Kauwe, said: “The Government’s decision not to appeal is welcome news. Ministers must now focus their energies on the action and detailed policies needed to address the climate emergency and the myriad crises we face… “The existing strategy is far too weak. The Climate Change Committee warned in June that there are only credible policies to achieve 39% of the emission cuts needed. “Since then, the Government has announced plans for fracking, new gas and oil developments and more roads which will make it even harder to make its sums add up. The best way to put our climate goals back on track and ensure long-term sustainable growth is to pull the plug on new fossil fuel developments and invest in real solutions to the myriad crises we face: developing the UK’s immense renewable energy potential and insulating people’s homes. Senior lawyer at ClientEarth, Sam Hunter Jones said: “Now that the Government has confirmed it won’t be appealing, its efforts must now be directed at publishing a revised Net Zero Strategy that complies with July’s landmark Judgment. “This new strategy is also an opportunity for the Government to address the spiralling cost of living crisis at the same time as making the required emissions savings. This can be done through a number of measures including a rapid roll-out of home insulation across the country and a swift transition to renewable energy.” Good Law Project only exists thanks to donations from people across the UK. If you’re in a position to support our work, you can do so here. You can find out more about our Net Zero victory here.
It would be so incredibly easy, and would kickstart the economy in a genuinely sustainable way to do both those, while investing heavily in renewable energy sources. Last night I attended a meeting of the Planning Board of Mendip District Council, to speak against a housing development (it got passed, but hey ho). One of the other applications passed was a solar farm on a 27 acre field, which at peak output will generate enough electricity to power 3,700 houses, or 8.5% of the whole of the Mendip District. Once installation is complete, the field will also be used as a mixture of wild flower meadow and grazing for sheep, around and under the panels. It will happen pretty quickly too, unlike the building of any comparable fossil fuel power station or nuclear reactor.
"used as a mixture of wild flower meadow and grazing for sheep, around and under the panels." Trussterfuck was arguing against panel farm taking agricultural land out of production. She really doesn't get it, not just for this, but just about anything she has to deal with.
On the topic of meadows, this was in today’s Mirror, in a piece highlighting at risk animals and the damage being caused by the deforestation and the loss of natural habitats. THIRTY EIGHT million birds in the UK have vanished from our skies in the last 50 years. • 97% of the UK’s wildflower meadows, with their gloriously rich biodiversity and which also capture carbon and reduce flooding risks thanks to their complex root system have been lost since the 1930s. • 92% of Britain’s seagrass meadows, right, have been lost in the last century and they continue to decline globally at a frightening rate of 7% per year. Seagrass is able to capture carbon up to 35 times faster than tropical rainforests and, even though it covers less than 1% of the seafloor, it globally accounts for between 10% and 18% of total ocean carbon storage.
So Truss/Kamikwarzi are going to announce their `plan` at the end of the month. That`s 2 1/2 more weeks of self-imposed turmoil while they try and cobble something together on the back of a *** packet to disguise another massive U turn on the mini budget.. Meanwhile the economy goes further down the pan, and our credibility across the globe plummets. Surely their position is untenable already.
