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.

 

The welfare benefits Bill is unsustainable

 

This. Some cracking responses. Looking forward to this fair budget.

 

And much else!

 

They don't know what they are doing mate. Literally.

The budget has been delayed and delayed, causing confusion and mayhem in the markets.

It might be thought that this doesn't matter, that it's some dry, odd side issue. But it isn't, it is at the centre of everything when you are putting the begging bowl out.

They have changed tack again this afternoon, (sort of!) after surging increases in borrowing costs. And because of this further hint at change, they have gone up even further. If you made it up, they'd laugh at you.

Seriously, they don't know what to do. So they will attack pensioners, attack business, attack the self employed. All the people they dislike basically.

 

The black hole has been reduced, great work by labour tidying up the mess. Looking forward to the fairer budget.

 

There was no " black hole" I'm afraid. Even the OBR said that it was at most £9bn, and even that was contingent on the events of later to come through '24. Most didn't.

Her last budget raised over £30bn, or was meant to, which was spent within weeks on Labour pet causes. They have caused about £2bn extra just in reaction to the fuel issue which has resulted in a big spike in people claiming a benefit they not bothered with.

Every fiscal issue since the last budget is entirely down to Reeves. They are short of about £30bn -£40bn . And it's all someone else's fault.

But it isn't. They do not know what they are doing.

 

The news piece I watched said it had reduced due to events that meant they didn't have to wack taxes on income. Wednesday PMQ's review with a Midlands labour MP said she was looking forward to "a fairer" budget. So am I.

 

They were probably referencing the OBR decision to move the bond forecasting window. A couple of billion. About 0.2% of the UK annual budget. We will have lost more than that today with the surge in borrowing costs after the shambolic briefings.

The budget will be as fair as it can be if you are deemed to be one of them, as was the last one.
Everyone else will suffer. Guaranteed.

 

She has hell of a mess to clear up I agree despite record taxation and record borrowing of the last government.

I have no idea what’s in the budget but it looks like the bbc have got it wrong again telling people there will be income tax rises when it now looks like there won’t be and of course there will be lots of discussion in the treasury in the run up to the budget.

I have no issue with higher income tax if it stimulates the economy, gives us better pupils services and tackles the massive deficit left by the last lot.