Off Topic JULY 4th 2024 6 months JAN 2025 ..chaos+ more fibs +roughshod attitudes+backtracking +++ C R A S H++
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Britain’s long-term borrowing costs are nearing their highest level since 1998 amid fears that Rachel Reeves is failing to balance the public finances.
The yield on 30-year UK gilts – a benchmark for the cost of servicing the national debt – jumped as much as nine basis points to 5.63pc on Tuesday, close to a 27-year high.
This reflected the biggest daily increase of any major global economy, as economists warned that Britain was paying a “moron premium” on its debt – a phenomenon whereby investors charge countries more to borrow because of previous policy missteps.
Rising borrowing costs will increase pressure on the Chancellor as she prepares for her autumn Budget, with some predicting she will have to raise taxes significantly to plug a hole of up to £50bn in the nation’s finances.
just hours after Torsten Bell, the former head of a Left-leaning think tank, was appointed to lead Ms Reeves’s Budget preparations
prior to becoming a Labour MP, Mr Bell proposed scrapping the triple lock and taxing pensions more.
Mel Stride, the shadow chancellor, said: “Labour’s latest appointment confirms their intent – higher taxes, more borrowing, and punishing success.”
Britain’s debt costs have been the highest among G7 economies since the Chancellor’s spring statement in March.
At the time, she was forced to restore £9.9bn of fiscal headroom to meet her borrowing targets.
She faces an even bigger task to do the same thing in autumn.
Alex Kerr, at Capital Economics, predicted that Ms Reeves will have to raise between £17bn and £27bn, “most of which will probably be funded by tax rises”.
The yield on 30-year UK gilts – a benchmark for the cost of servicing the national debt – jumped as much as nine basis points to 5.63pc on Tuesday, close to a 27-year high.
This reflected the biggest daily increase of any major global economy, as economists warned that Britain was paying a “moron premium” on its debt – a phenomenon whereby investors charge countries more to borrow because of previous policy missteps.
Rising borrowing costs will increase pressure on the Chancellor as she prepares for her autumn Budget, with some predicting she will have to raise taxes significantly to plug a hole of up to £50bn in the nation’s finances.
just hours after Torsten Bell, the former head of a Left-leaning think tank, was appointed to lead Ms Reeves’s Budget preparations
prior to becoming a Labour MP, Mr Bell proposed scrapping the triple lock and taxing pensions more.
Mel Stride, the shadow chancellor, said: “Labour’s latest appointment confirms their intent – higher taxes, more borrowing, and punishing success.”
Britain’s debt costs have been the highest among G7 economies since the Chancellor’s spring statement in March.
At the time, she was forced to restore £9.9bn of fiscal headroom to meet her borrowing targets.
She faces an even bigger task to do the same thing in autumn.
Alex Kerr, at Capital Economics, predicted that Ms Reeves will have to raise between £17bn and £27bn, “most of which will probably be funded by tax rises”.
July 4th 2024 ....DISASTER DAY ... CHANNEL crossings were were in decline and none arrived on polling day! They were waiting to see if the Tory .gov got back in so they wouldnt chance wasting their money ......... 25th August 2025 52,743 taken advantage in the 13 month's of non stop freebie grabbing and hopefully free 4 or 5* accomodation. [ one migrant interviewed yesterday had been in a top rated hotel for over 12-14 month's ]
Take the post above £17,000,000,000 tax rise ................. guess what! ......... no covid and we would still have a Tory .gov .................. guess what if 53,000 illegals hadnt crossed the channel we would be facing £ 17,000,000,000 tax rise, which will be on going because we have to borrow £??? bns to pay for Liebours shortcomings.
A COUNTRY WIDE POLL OVER THE LAST FEW DAYS HAD THE question ..........
"name 1 good thing 2 TIER GRANNY Harmer has achieved in first 12 month's 99.99999999% blank forms!
Take the post above £17,000,000,000 tax rise ................. guess what! ......... no covid and we would still have a Tory .gov .................. guess what if 53,000 illegals hadnt crossed the channel we would be facing £ 17,000,000,000 tax rise, which will be on going because we have to borrow £??? bns to pay for Liebours shortcomings.
A COUNTRY WIDE POLL OVER THE LAST FEW DAYS HAD THE question ..........
"name 1 good thing 2 TIER GRANNY Harmer has achieved in first 12 month's 99.99999999% blank forms!
Reckless borrowing, reckless spending and high taxation
A government who won’t make cuts where theyre needed and a bunch of incompetents in charge
What could go wrong
A government who won’t make cuts where theyre needed and a bunch of incompetents in charge
What could go wrong
The UK government did not do its own analysis of the cost of the biggest reorganisation of councils in England for decades, the BBC has learned.
Deputy Prime Minister Angela Rayner said "a significant amount of money" could be saved by merging councils in 21 areas into single authorities.
Rayner's department, the ministry of local government, based its cost estimates on a 2020 report commissioned by the County Council Network (CCN) that said £2.9bn could be saved over five years.
But the CCN has since revised its analysis and now says the reorganisation could make no savings and actually cost money in some scenarios.
The government will decide which proposals to take forward and intends to inform most councils next year.
A government spokesperson insisted the reorganisation "will improve services and save taxpayers' money".
Speaking to MPs in June, Rayner said: "Local government reorganisation will lead to better outcomes for residents and save a significant amount of money that can be reinvested in public services and improve accountability."
But her department insisted it was not necessary to commission separate in-house analysis of the cost of reorganisation at the public's expense, in response to the BBC's freedom of information request.
A PwC report in 2020 estimated potential savings of £2.9bn over five years if all councils in two-tier areas were replaced by single authorities.
But in updated analysis this year, external, the CCN said the reorganisation could cost £850m over five years
and deliver no savings if 58 new councils, based on a minimum population of 300,000, were created in all 21 two-tier areas.
"Under this scenario no long-term efficiency savings would be delivered, meaning it would be more efficient to retain the current two-tier system in England," the CCN's analysis said.
Oliver said the CCN's analysis showed "that splitting county areas into unitary councils with populations as small as 300,000 will create hundreds of millions of new unsustainable costs for local taxpayers".
The District Councils' Network (DCN) said the reorganisation could produce poor results given the funding pressures already facing local government.
"It's astonishing that the government has undertaken no independent analysis before embarking on the biggest reorganisation of councils for 50 years," said Sam Chapman-Allen, chair of the District Councils' Network.
HERE WE GO AGAIN .LACK OF PLANNING AND GROUND WORK BEEN HERE BEFORE .............. GB ENERGY AND NET ZERO! / . WINTER FUEL ALLOWANCE???? ./ IMMIGRATION!
Deputy Prime Minister Angela Rayner said "a significant amount of money" could be saved by merging councils in 21 areas into single authorities.
Rayner's department, the ministry of local government, based its cost estimates on a 2020 report commissioned by the County Council Network (CCN) that said £2.9bn could be saved over five years.
But the CCN has since revised its analysis and now says the reorganisation could make no savings and actually cost money in some scenarios.
The government will decide which proposals to take forward and intends to inform most councils next year.
A government spokesperson insisted the reorganisation "will improve services and save taxpayers' money".
Speaking to MPs in June, Rayner said: "Local government reorganisation will lead to better outcomes for residents and save a significant amount of money that can be reinvested in public services and improve accountability."
But her department insisted it was not necessary to commission separate in-house analysis of the cost of reorganisation at the public's expense, in response to the BBC's freedom of information request.
A PwC report in 2020 estimated potential savings of £2.9bn over five years if all councils in two-tier areas were replaced by single authorities.
But in updated analysis this year, external, the CCN said the reorganisation could cost £850m over five years
and deliver no savings if 58 new councils, based on a minimum population of 300,000, were created in all 21 two-tier areas.
"Under this scenario no long-term efficiency savings would be delivered, meaning it would be more efficient to retain the current two-tier system in England," the CCN's analysis said.
Oliver said the CCN's analysis showed "that splitting county areas into unitary councils with populations as small as 300,000 will create hundreds of millions of new unsustainable costs for local taxpayers".
The District Councils' Network (DCN) said the reorganisation could produce poor results given the funding pressures already facing local government.
"It's astonishing that the government has undertaken no independent analysis before embarking on the biggest reorganisation of councils for 50 years," said Sam Chapman-Allen, chair of the District Councils' Network.
HERE WE GO AGAIN .LACK OF PLANNING AND GROUND WORK BEEN HERE BEFORE .............. GB ENERGY AND NET ZERO! / . WINTER FUEL ALLOWANCE???? ./ IMMIGRATION!
Super F I B B E R .........Ed Milliband!!!!!!!!!!!!!!!!!!!!!
Renewable subsidies also incentivise wind farms to try to export power even when supplies are already plentiful, because they are guaranteed a fixed price under the Government’s contracts for difference (CfD) scheme.
In Dorenell’s case, [ large on shore wind farm in Scotland ] accounts show the onshore wind farm was paid for 591,164 megawatt hours (MWh) of power in 2024. Only 297,137 MWh of this was actually exported [ joined the UK grid ] – suggesting 294,027 MWh, or 49pc, was curtailed ... . [ paid for but not used or generated ]
The wind farm has a CfD with an inflation-linked strike price of £82.50 per MWh in 2012 prices, worth about £112 per MWh in current prices.
But Sam Taylor, a former fund manager who now runs Scottish non-profit These Islands, said the huge amount of curtailment meant Dorenell was effectively paid £227 per MWh for the electricity it actually supplied to the grid last year.
This compares to an average price of £77 per MWh paid to gas-fired power plants during the same period, according to energy consultancy Ember.
‘Dishonest’ renewable claims
Mr Taylor said the figures underscored the “dishonesty” of claims by Mr Milliband, the Energy Secretary, and other politicians that renewables would cut consumer energy bills.
He said: “I am not a net zero sceptic, but I do wish politicians would tell the truth about these issues.
“If you believe energy security is important, and that we have a responsibility to cut our carbon emissions, then you can make a good argument for renewable energy.
“But I don’t think it is right to say it will bring bills down and that is the dishonest part.”
Net zero subsidies cost British households £280 a year [ on your gas/electric bills! ]
Recommended
Ed Miliband's energy bill gaslighting has just been exposed
Renewable subsidies also incentivise wind farms to try to export power even when supplies are already plentiful, because they are guaranteed a fixed price under the Government’s contracts for difference (CfD) scheme.
In Dorenell’s case, [ large on shore wind farm in Scotland ] accounts show the onshore wind farm was paid for 591,164 megawatt hours (MWh) of power in 2024. Only 297,137 MWh of this was actually exported [ joined the UK grid ] – suggesting 294,027 MWh, or 49pc, was curtailed ... . [ paid for but not used or generated ]
The wind farm has a CfD with an inflation-linked strike price of £82.50 per MWh in 2012 prices, worth about £112 per MWh in current prices.
But Sam Taylor, a former fund manager who now runs Scottish non-profit These Islands, said the huge amount of curtailment meant Dorenell was effectively paid £227 per MWh for the electricity it actually supplied to the grid last year.
This compares to an average price of £77 per MWh paid to gas-fired power plants during the same period, according to energy consultancy Ember.
‘Dishonest’ renewable claims
Mr Taylor said the figures underscored the “dishonesty” of claims by Mr Milliband, the Energy Secretary, and other politicians that renewables would cut consumer energy bills.
He said: “I am not a net zero sceptic, but I do wish politicians would tell the truth about these issues.
“If you believe energy security is important, and that we have a responsibility to cut our carbon emissions, then you can make a good argument for renewable energy.
“But I don’t think it is right to say it will bring bills down and that is the dishonest part.”
Net zero subsidies cost British households £280 a year [ on your gas/electric bills! ]
Recommended
Ed Miliband's energy bill gaslighting has just been exposed
It’s been a big fat lie from the start
We’ve had Net Zero subsidies added to our bills for years, and yet, I don’t recall ever being asked whether I was prepared to pay up to 25% of the bill to fund this nonsense ? That’s because I wasn’t asked !
If energy bills were at reasonable levels it would be slightly different, but even then people should have been told the truth from the beginning. I’ll wager that a vast proportion of the population don’t even know we’re being scammed out of our hard earned money when this government promised lower bills
Yet again it’s endorsed by the uni party
The UK is obligated to provide food and shelter to asylum seekers under the HRA and ECHR. But the UK isn't obligated to provide the same for British citizens.
There will be no asylum seekers sleeping on the streets tonight, but ≈12,000 homeless Brits will.
Meanwhile.... https://x.com/Migrant_Auditor/status/1957767986002960535?s=19
There will be no asylum seekers sleeping on the streets tonight, but ≈12,000 homeless Brits will.
Meanwhile.... https://x.com/Migrant_Auditor/status/1957767986002960535?s=19
The individual responsible for this video ate some pasta while at the hotel. He was arrested at his home by police in riot gear for burglary. We need as a nation to be kept safe.
Seriously?
Yes this has occurred. Asylum seekers could starve in these hotels if people start eating pasta from their buffets.
Starmer's reset deal with the EU was supposed to allow Brits and easy passage through customs when going on holiday.
Like everything else with 2tier he gets it wrong, he believes everything the cheating EU tells him.
It took over an hour for our fellow passengers to get through Palma security last week and 30 minutes for disabled passengers.
Can this Labour government get ANYTHING right ?
Like everything else with 2tier he gets it wrong, he believes everything the cheating EU tells him.
It took over an hour for our fellow passengers to get through Palma security last week and 30 minutes for disabled passengers.
Can this Labour government get ANYTHING right ?
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Britain's Prime Minister Keir Starmer
The prospects of Keir Starmer triggering a snap General Election have moved a step nearer after a petition demanding one amassed more than 860,000 signatures.
LOOKS LIKE HE SHAVED UNDER HIS NOSE!
Yvette Cooper more disinformation loads of it and large missing chunks of truth missing from her speech re immigration .. and smash the gangs!
stated 14 years again [ was it twice? ] ... 35,000 deported this year! .gov stated recently was 3000 odd. Blamed tories for high number of illegals inherited [ mentioned 14 years? ] when actually SO FAR 2025 29,003 IT IS AT AN ALL TIME RECORD [ just dingy crossings ] and 4 months to go! [ jan --dec ] taking it from july -june its even worse almost 50,000
Painted a rosy picture of gang smashing arrests .. turned out there just 26!
when the media recordings and newspaper reporter info was collected in real time and published and also the .gov stating same over weekend Immigrants are more important than BORN AND BRED TRUE BRITISH CITIZENS...she sat in the full on camera vision stating not true its a lie ............
.gov reshuffling Starmer the 2 tier granny harming fib box now in desperate straits as he appears to be trying throw Rattlesnake and alledged tax avoider under the bus . 4 or 5 people he just recently hand picked as the right ones to do a job ........ has been binned ....
The north bristol A..W... NOW 2 tier's right hand man .. in place to " replace rattlesnake" ........................
stated 14 years again [ was it twice? ] ... 35,000 deported this year! .gov stated recently was 3000 odd. Blamed tories for high number of illegals inherited [ mentioned 14 years? ] when actually SO FAR 2025 29,003 IT IS AT AN ALL TIME RECORD [ just dingy crossings ] and 4 months to go! [ jan --dec ] taking it from july -june its even worse almost 50,000
Painted a rosy picture of gang smashing arrests .. turned out there just 26!
when the media recordings and newspaper reporter info was collected in real time and published and also the .gov stating same over weekend Immigrants are more important than BORN AND BRED TRUE BRITISH CITIZENS...she sat in the full on camera vision stating not true its a lie ............
.gov reshuffling Starmer the 2 tier granny harming fib box now in desperate straits as he appears to be trying throw Rattlesnake and alledged tax avoider under the bus . 4 or 5 people he just recently hand picked as the right ones to do a job ........ has been binned ....
The north bristol A..W... NOW 2 tier's right hand man .. in place to " replace rattlesnake" ........................
Liars, cheats, incompetents, hypocrites
As for the pathetic 1 in 1 out policy, so far it’s 3,567 in and 0 out
Anyone surprised ?
As for the pathetic 1 in 1 out policy, so far it’s 3,567 in and 0 out
Anyone surprised ?
No !
And from October 12th it’s likely to get even worse going through new EU immigration laws aimed at British tourists of course ! Everything will take a lot longer than you've experienced, which is bloody awful to start with ! We're going away in 3 weeks but luckily are back before this new rubbish comes into force.
Best to rock up on a small boat I reckon.
That way they’ll pay your hotel bill for you and feed you for free, and you’ll also get spending money and be allowed to roam the streets.
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UK government borrowing costs have reached their highest level since 1998, adding to the pressure on the chancellor ahead of the Budget.
The interest rate on 30-year government bonds, known as the yield, jumped to 5.698%, making it more expensive for the government to borrow money.
There are rising expectations that Chancellor Rachel Reeves will increase taxes in the Budget later this year in order to meet her financial rules, as worries grow about the state of the government's finances.
On the currency markets, the pound also fell more than 1% against the dollar on Tuesday morning.
WHERE IS THE WAY OUT OF THIS MESS! ................... R A T T L E S N A K E has screwed us 2 TIER IS SCREWING US ... YVETTE is blustering with loads of smoke ...... HIPPOCRITTIC Angela thinks she is invincible as assistant/deputy head of .GOV ..............
A GE wouldnt really solve anything .. it would need to be a hung .gov anyones guess who would be the victor... at least 3 parties would get over 100 seats plus whatever labour get.... TORIES LIKELY TO GET AROUND 140? +! MOST of the "newfaces liebour" would lose out [ were mainly default seats from lack of people voting! it needs just 1 party to get at least 1 mp than labour then the fun might start ........LIEBOUR KNOWS IT WONT GET 326 let alone 306!
whoever wins will need to form a coalition..... and hope total seats are over 300!
The interest rate on 30-year government bonds, known as the yield, jumped to 5.698%, making it more expensive for the government to borrow money.
There are rising expectations that Chancellor Rachel Reeves will increase taxes in the Budget later this year in order to meet her financial rules, as worries grow about the state of the government's finances.
On the currency markets, the pound also fell more than 1% against the dollar on Tuesday morning.
WHERE IS THE WAY OUT OF THIS MESS! ................... R A T T L E S N A K E has screwed us 2 TIER IS SCREWING US ... YVETTE is blustering with loads of smoke ...... HIPPOCRITTIC Angela thinks she is invincible as assistant/deputy head of .GOV ..............
A GE wouldnt really solve anything .. it would need to be a hung .gov anyones guess who would be the victor... at least 3 parties would get over 100 seats plus whatever labour get.... TORIES LIKELY TO GET AROUND 140? +! MOST of the "newfaces liebour" would lose out [ were mainly default seats from lack of people voting! it needs just 1 party to get at least 1 mp than labour then the fun might start ........LIEBOUR KNOWS IT WONT GET 326 let alone 306!
whoever wins will need to form a coalition..... and hope total seats are over 300!