shmmeee
Well-Known Member
That’s nothing to do with the gilt market.
Do you want to discuss boring politics? (11 Viewers)
- Thread starter mrtrench
- Start date
That’s nothing to do with the gilt market.
shmmeee
Well-Known Member
Two weeks where people who repeat whatever the Mail front page says have been on about how terrible it’s been. I’ve posted a 14 year sample earlier in the thread and you didn’t like that either surprisingly.
fernandopartridge
Well-Known Member
The cost of "borrowing" is and the ground is being primed for more cuts in order to meet the fiscal rules.
Keir Starmer says Treasury will be ruthless on public spending cuts
Chancellor’s tough approach to public spending ‘absolutely right’, says PM after cost of government borrowing rose
Sky Blue Pete
Well-Known Member
Yep both resigned and Farage is now prime minister with Lowe as chancellor
We are about to declare war on Poland
MalcSB
Well-Known Member
Will Starmer’s votes of confidence turn out to be kisses of death like those of football club’s chairman I wonder.The cost of "borrowing" is and the ground is being primed for more cuts in order to meet the fiscal rules.
Keir Starmer says Treasury will be ruthless on public spending cuts
Chancellor’s tough approach to public spending ‘absolutely right’, says PM after cost of government borrowing rosewww.theguardian.com
I genuinely hope so.
Last edited:
MalcSB
Well-Known Member
I’m not sure I totally understood it tbh.
I think my initial thought was that somehow the economic position at the time needed to be taken into to account when considering the relative movements at that time. That position seemed worse for Truss than it did/ does for Reeves - so an apparently smaller worsening for the latter may actually be a bigger issue than seen at first sight.
The economic position during Truss’s time would have been down to the Tories - as would it for Reeves time despite Starmer talking the economy down. Which statement will probably have you apoplectic
It does to an extent. The markets want to see control over spending ie government is likely to be able to repay the debt and they will be getting back a good return
Obviously we always will always repay as we can just print more, however, that can cause inflation/debase the currency which means that people want higher yields to lend the government money (as that £ lent today will be worth less in 2, 5 or 10 years due to inflation/debasing)…..and so the spiral continues.
That’s why this week the yields dropped, not because of any government policy in here and the U.S, but because of the better than expected inflation figures. Both were coming down from high levels though
Also our yields apparently follow US more closely as both rely on a high amount of external/foreign investors so at the moment lenders want good yields from
us otherwise they’d rather lend to US which has far better growth/growth prospects - think that’s right anyway.
I’m not sure I get the joke Malcolm
shmmeee
Well-Known Member
No it’s nothing to do with the gilt market because it was already accounted for in plans as it was implemented by the Tories. To cancel it now would mean the money would have to be found elsewhere (MMT arguments aside FP)
shmmeee
Well-Known Member
Gilts and GBP have been more stable under Reeves so far than any chancellor of the last 14 years. Thats what that graph shows.
shmmeee
Well-Known Member
The cost of "borrowing" is and the ground is being primed for more cuts in order to meet the fiscal rules.
Keir Starmer says Treasury will be ruthless on public spending cuts
Chancellor’s tough approach to public spending ‘absolutely right’, says PM after cost of government borrowing rose
You’re mixing up stories here. Firstly the Treasury always asks for ruthless cuts, it’s the treasury. That’s its job.
Secondly as I said to Steve this story has nothing to do with the current finances. It was always accounted for as it was planned under the Tories.
Grendel
Well-Known Member
Right
Pound slides to fresh 14-month low as stocks fall; rise in UK borrowing costs reverses – as it happened
Dollar jumps to over two-year high against major currencies as bets on US rate cuts recede; UK 30-year government bond yield eases after hitting fresh 27-year high
shmmeee
Well-Known Member
Could you imagine a Reform govt?
They can’t even get two competent MPs together.
fernandopartridge
Well-Known Member
No it hasn't, I worked in the civil service for 7 years
shmmeee
Well-Known Member
And you think the treasury doesn’t always ask for as little money as possible to be spent? Feel free to show me some evidence of the treasury saying “hey guys don’t worry about departmental spend”
I notice you avoided the main point of my reply. I’ll assume that means you accept you were wrong.
fernandopartridge
Well-Known Member
Nobody has said that. The treasury expect you not to go asking for more money. It's only a austerity era thing that they come to try and take budget away.
My point was that prospective cuts would’ve been related to what’s happening in the gilt market. I thought FP was talking about if more were required as reeves might potentially break her fiscal rules. Might be talking crossed purposes though
Mcbean
Well-Known Member
Ok it may be safe to return
fatso
Well-Known Member
Neither can the Conservatives or Labour, just look at both front benches!Could you imagine a Reform govt?
They can’t even get two competent MPs together.
Captain Dart
Well-Known Member
More than Labour though.Could you imagine a Reform govt?
They can’t even get two competent MPs together.
SkyBlueCharlie9
Well-Known Member
Yes and why she will probably never be C&U Tory prime minister, as many old skool racist Torys will struggle to vote for her (probably a few on here too if they were honest)
Which is why Reform could genuinely push Labour and be 2nd party at next election.
Will C&U ever invite Farage to be their leader? Would be no stopping them then.
Grendel
Well-Known Member
Why do you insist on the full Conservative and Unionist party Charles?
MalcSB
Well-Known Member
May be it isn’t a joke?
Famine and flood are both natural disasters.
The text overlaying the picture is not clear in its meaning.
Perhaps if we didn’t send so much foreign aid overseas to countries with space and / or nuclear weapons programmes we would have the wherewithal to prevent or protect communities in the UK from the devastating effects of flooding (NB those who dismiss it as just a bit of water
)Whenever there is an overseas disaster, we‘re immediately bombarded with such appeals. Collectivism is such a one way street.
I'm not sure I do - what is it that Afghanistan, Syria, India, Pakistan and every country in Africa have in common that I should be thinking about here?
Which African countries have space or nuclear weapons programs? Have Syria or Afghanistan started one up without me noticing? Just trying to figure out why you're lumping these countries together.
MalcSB
Well-Known Member
MalcSB
Well-Known Member
India and Pakistan both have space programs which started in the 1960's and also nuclear weapons.
Syria has a space program which you didn't notice, announced in March 2014. Were you still in nappies?
Middle East Embraces Space Race
As nations in the region invest in satellite technology, a new era of space-based defense is emerging.
spaceproject.govexec.com
There was an article in the Times of Israel, which opened as follows (can't get link to copy and paste properly).
DAMASCUS — Syria’s government on Tuesday decided to establish a “space agency” to conduct scientific research despite the civil war that has torn the country apart and devastated its economy.
State news agency SANA said the cabinet had approved a project to create the so-called Syrian Space Agency, “with the goal of using space technology for exploration and observing the earth.”
SANA said the government hopes to employ such technology “in the service of development.”
Last edited:
MalcSB
Well-Known Member
That as soon as there is any form of disaster in those countries / continents there are similar appeals to the people of the UK. The only offer of aid I recall was by Idi Amin of Uganda who, iirc, offered bananas to the UK and sent hardworking Ugandan Asians.
In addition they receive billions of pounds in Foreign Aid that could be beneficially spent in this country. On flood defences, dredging waterways etc. Pot holes even.
Last edited:
MalcSB
Well-Known Member
so you say, I would rather understand the graph myself than take your word as gospel. Sorry about that.
Last edited:
MalcSB
Well-Known Member
wouldn't one be more than Labour?More than Labour though.