Off Topic Starmer/ Reeves: last man standing

Are pensions important ?

 

Like a drug addict in a crack house

 

Honestly mate, without knowing the individuals you're referring to I can virtually guarantee that they will have been assessed as unfit for work, and that's the real problem. I heard on the radio the other day that there are now 4 million working age adults who have been assessed as not capable of work, an increase of 1 million in the last 4 years alone. We need to radically overhaul the work capability assessment process, protecting those who genuinely need support and not shielding those are capable of working but just don't fancy it.

 

https://www.bbc.co.uk/news/articles/c0mx3nv7zy8o

 

Almost the worst possible thing to do, once you have made such an unprecedented statement previously.

Markets want stability, direction and certainty above all other things. They do like fiscal continence, and they will insist on it in the end, but they really need certainty.

No wonder borrowing costs have surged to day. Utterly clueless.

 

Oh oh. Is that politicians seeking to avoid upset in their ranks, rather than doing what is needed again...

 

Chancellor who didn't say she was going to do something is reportedly now not going to do the thing she never said she would do.

 

That supposed early morning speech at Downing street was laying the ground for something. Or maybe she just wanted to get the journalists up early.

 

Definitely laying the ground for something, but I haven't seen anything attributable that suggests income tax would rise. God only knows what will be announced but it's going to be painful.

 

She briefed the FT, the paper she always briefs, and the one she briefed again today after back tracking. She also sent a note to the OBR informing them.

No chancellor has ever made such a statement before of that type. She was trying to assuage the bond markets, which are spooked. It didn't work, and now this capitulation to her back bench critics has made it worse.

When interest payments account for over sixty per cent - and rising - of your borrowing, rising gilt yeilds really do matter.

This level of panic and incompetence will cost a lot of money.