Truss was in power for weeks. Weeks. All the damage she did was short term, Gilt yields are far higher now, and They are the foremost problem. The LDI issues affecting pensions are a twenty year old problem, and in fact go back to Gordon Brown interfering with the private pension funding arrangements. It related to other issues on the bond market, term time and type, which are largely overcome, and were overcome very quickly actually. But they will come sgsin. The deficit was about halved between 2010 and 2015, but as I hope you know, the deficit is not the debt. Truly the Tories were useless, following tax and spend policies that passed the "BBC test". Yes, they had one of those! And even given the pandemic and Putin's war, the two biggest shocks to the economy in eighth years, still they trod the wrong path. They were useless, but even they had managed five months of growth, high employment and low inflation with more growth following until Reeves' budget. They were useless and I can see it. I don't wear a political shirt like a football shirt. Try taking the shirt off. You will see that this lot are even worse, which takes some doing.
There are some massive problems and we need a good government to start to fix them. I'd argue that the short term and adversarial nature of UK politics are hindering progress. Partly due to the poor quality of politicians we have, and they appear to be getting badly advised. Productivity is at the heart of some issues though I confess to not having deep knowledge of the factors and impacts. The work ethic is not there with a lot of people and I can understand why when the system is geared to squeeze the most out of workers for very little reward. Many are grafting hard just to survive rather than to make money. Does this lead to mindsets of why should I put 100% in, or even get a job in the first place, when I don't see any benefit from it?
It was discussed on last night's Newsnight, not looking good. Hopefully the "fairer" budget steadys the ship. Good points marra, but I'm happy to put my faith in Labour doing a better job than the tories managed in 14 years of destruction.
Argh that’s alright then - she knocked £400 billion off all our pensions in a coke filled splurge. The markets loved it. That’s why the Tories got rid of her. Take your shirt off cos the Tories caused this clusterfck you need to own it. They fckd the country and there is one hell if a mess to clear up.
I lived next door to a benefit cheat when I was younger, drove my dad bonkers, he believed nobody not working should get more than someone working for a living but these lads have benefit cheating off to a fine art.
I don't think you have understood what I've written at all, which is probably why you have felt the need to resort to foul language. so I'll leave it at that.
I'd try and look at the facts, rather than the rhetoric given out by Mandelson and his coterie, who still wield influence with Starmer. The decline of UK finances can be traced back to just after the turn of 2000. Brown unleashed an enormous bout of spending and state hiring. The Tories and Libs did nothing to stem this, then the Tories themselves failed to do it too. Only by reducing the size of the state can any stability be achieved . Labour want it to increase. The markets, upon which we are now utterly dependent, want the state reduced as it is the only way to stabilise the economy. Sooner or later, as in the seventies when it was the IMF, the markets will have their way. It is not political, it is economic.
Agree, but how long is "sooner or later"? I'd hope they would get two terms to sort out the tories mess... we shall see where we land after the "fairer" budget.
Never been a member of the Labour Party or a union and have voted Liberal and Geeen in the past so your stereotypical nonsense is par for the course. The Tory party whether through corruption or incompetence or both have broken this country then. This government has one heck of a mess to clear up. Il leave it at that. The alternatives are Badenoch who is the worst Tory leader since Sunak and racist Nigel whose backers want him to smash the nhs and slash public services which it appears you’re happy with. Sadly low income people backing reform are the ones that will suffer the most.
Absolutely no chance of two terms mate. Sooner or later is more or less now. That is the reason for the budget being long overdue and the flip flopping on tax positions. But Labour , and the Tories post 2010, are instinctively hostile to reducing the state, they always want to grow it. The cash has ran out and the lenders are becoming hostile .
But why now? Why would the markets give them 15 or 16 months to sort out the 14 years of tory destruction? I'll beg to differ and wait on this next fairer budget.
The " now" was coming. It's almost here, or near it. The markets are not political at all, and it is not just debt, or spending that worries them, but uncertainty and dithering. That is why the UK now pays the highest borrowing costs of any G7 nation, or most others. Higher even than Greece or Italy. This is very important. So high is the debt, that it is the most important single factor in the equation. As for the " destruction". Well the Tories certainly spent too much money, for too long. They continued to grow the state. The trouble for Starmer is that whenever spending decisions were made and published, including the gigantic COVID relief and energy support, ( all forgotten it seems!) , but also at at all other times, he and his party always demanded more. At every budget and every spending review, they wanted to spend more. All on record in the HOC. It's not political, it's economic. The state has to be reduced in size, it really is as simple as that.
