Do you want to discuss boring politics? (35 Viewers)
- Thread starter mrtrench
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Brighton Sky Blue
Well-Known Member
It would be a bizarre thing to make spending commitments to in favour of much more pressing matters elsewhere. They do understand how shallow their majorities are right?
Theres going to be a lot of calls on cash. They desperately need growth to continue to improve and BoE rates to be cut asap to give them some wriggle room
Brighton Sky Blue
Well-Known Member
And they’ve hamstrung themselves by their ridiculous comments on tax made during the election.
shmmeee
Well-Known Member
He’s really misjudged it. Using it as a sign that he won’t cave to the left. It’s going to change. Everyone in the party hates it.
If the left and right hands could work together he should have agreed with the left that they’d go after something else and leave him to do this. But worrying about this stuff in your first month is amateur hour. The mongs who got him through the election need to be jettisoned and he needs to actually govern now.
Yeah, agree. They didn’t need to make those tax commitments.
I expect we will all be taxed more in any event though
fernandopartridge
Well-Known Member
Who gives a fuck really? The tenure of that office has coincided with a prolonged fall in living standards, anaemic wage growth, significantly impaired public services and public realm. It should be abolished or its remit changed so that it measures against outcomes rather than a fabricated 'budget'.
Brighton Sky Blue
Well-Known Member
Which I have no problem with, but they were too scared to make the argument.
shmmeee
Well-Known Member
Passing all economic policy to the OBR is batshit too. Why are we even electing politicians if the BoE and OBR make all the decisions?
shmmeee
Well-Known Member
Thats what Liz Truss said
It’s a citizens god given right to elect a mentalist that trashes the economy.
This is economics, there are no experts, just people with opinions and ideologies. The idea there’s such a thing as a neutral fact based observer is a nonsense.
D
Deleted member 5849
Guest
Well this is bollocks isn't it.
I said at the time that people should be concerned about the power of the markets/OBR etc (even though I thought truss was crazy). People ignored it at the time because it didn’t fit with their ideology
. I do think people jumping up and down three weeks into a new government before a budgets even been announced is a bit OTT though. If reeves and starmer get this right and ride the new government/stability wave, they’re likely to see a natural continued increase in growth* which will give them more to play with. Not sure many in the party and it’s supporters have the patience though
*inflation is also currently under control which should mean rate cuts and cheaper borrowing as well, which should free up more cash
D
Deleted member 5849
Guest
Personally I'm just liking the fact the news headlines aren't about something ridiculous daily, anything else is a bonus!I said at the time that people should be concerned about the power of the markets/OBR etc (even though I thought truss was crazy). People ignored it at the time because it didn’t fit with their ideology
I do think people jumping up and down three weeks into a new government before a budgets even been announced is a bit OTT though. If reeves and starmer get this right and ride the new government/stability wave, they’re likely to see a natural continued increase in growth* which will give them more to play with. Not sure many in the party and it’s supporters have the patience though
*inflation is also currently under control which should mean rate cuts and cheaper borrowing as well, which should free up more cash
shmmeee
Well-Known Member
I said at the time that people should be concerned about the power of the markets/OBR etc (even though I thought truss was crazy). People ignored it at the time because it didn’t fit with their ideology
I do think people jumping up and down three weeks into a new government before a budgets even been announced is a bit OTT though. If reeves and starmer get this right and ride the new government/stability wave, they’re likely to see a natural continued increase in growth* which will give them more to play with. Not sure many in the party and it’s supporters have the patience though
*inflation is also currently under control which should mean rate cuts and cheaper borrowing as well, which should free up more cash
Oh no I agree. And hopefully the OBR stuff is just a sop to the idea of stability and like most self imposed government rules will last just as long as it’s politically expedient.
shmmeee
Well-Known Member
If economics was settled we wouldn’t have politics.
The problem will be without some independent assessment such as the OBR the markets will increase the cost of borrowing. Rightly or wrongly it’s for the government to put their case to the OBR how they believe any policy choices will help improve the economy, growth etc and/or indicate they have a semblance of perceived control over spending and debt
ps give Torp and Reeves at least until October/November
chiefdave
Well-Known Member
I remember listening to an economics podcast where they were discussing how the drop out rate for economics degrees was high compared to other courses and the general consensus was that the more you study economics the more apparent it becomes that its all smoke and mirrors
And that was from a bunch of economists!
MalcSB
Well-Known Member
I agree with you, but the government has said that they will be looking for OBR “approval” of spending plans (budgets).
MalcSB
Well-Known Member
If they hadn’t, they might not have got 20% of the electorate to vote for them.
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MalcSB
Well-Known Member
Higher than inflation pay rises for state sector employees, however justified, may well be inflationary as the private sector demands the same.I said at the time that people should be concerned about the power of the markets/OBR etc (even though I thought truss was crazy). People ignored it at the time because it didn’t fit with their ideology
I do think people jumping up and down three weeks into a new government before a budgets even been announced is a bit OTT though. If reeves and starmer get this right and ride the new government/stability wave, they’re likely to see a natural continued increase in growth* which will give them more to play with. Not sure many in the party and it’s supporters have the patience though
*inflation is also currently under control which should mean rate cuts and cheaper borrowing as well, which should free up more cash
D
Deleted member 5849
Guest
Hasn't been deflationary all the years I've had a below inflation pay rise
MalcSB
Well-Known Member
If you are a state employee, as I was, you will know that when times are good, state pay is held back as an example to the private sector and when times are bad, state pay is held back as an example to the private sector. Pretty much heads they win, tails you lose. In reality, that public pay restraint has built up a lot of issues (e.g. doctors and nurses industrial action) without curtailing inflation - thus compounding the impact of public sector pay restraint.
Unfortunately, I can’t see trades unions in the private sector taking the view that addressing those years of pay restraint should be viewed as a special case. Inevitably there will be demands for private sector pay rises at similar or greater levels - that will, in all probability, lead to greater inflation.
D
Deleted member 5849
Guest
I know there's a lot about politicians being self serving and money grabbing, but isn't it pretty terrible that a former Prime Minister couldn't afford his care when sick.
National Archives: Former Prime Minister Harold Wilson sold papers to help fund his care
The two-time prime minister agreed to sell his entire archive to fund his care towards the end of his life.
www.bbc.co.uk
MalcSB
Well-Known Member
It’s pretty terrible that anyone can’t afford their care in old age without selling assets. Unless they don’t have any at which point the state steps in.
He wasn’t in a different position to anyone else.
Dark oxygen made by deep sea 'batteries' - BBC News
The discovery that lumps of metal on the seafloor produce oxygen raises questions over plans to mine the deep ocean.
www.bbc.co.uk
fernandopartridge
Well-Known Member
It is true, the whole thing is a theory of behaviour and some of it pretty self fulfilling
Brighton Sky Blue
Well-Known Member
‘You can’t give people above inflation pay rises’
Huw Edwards's BBC pay increased by £40,000 last year
Gary Lineker tops BBC salary list for seventh year running, with former news anchor Edwards in fourth.
www.bbc.co.uk
‘You can’t give people above inflation pay rises’
Huw Edwards's BBC pay increased by £40,000 last year
Gary Lineker tops BBC salary list for seventh year running, with former news anchor Edwards in fourth.www.bbc.co.uk
And people wonder why the BBC is fucked
clint van damme
Well-Known Member
And people wonder why the BBC is fucked
Not helping themselves are they?
skybluetony176
Well-Known Member
Worth pointing out that it’s Boris’ cronies that are currently in charge.And people wonder why the BBC is fucked
MalcSB
Well-Known Member
Ridiculous‘You can’t give people above inflation pay rises’
Huw Edwards's BBC pay increased by £40,000 last year
Gary Lineker tops BBC salary list for seventh year running, with former news anchor Edwards in fourth.www.bbc.co.uk
As equally good with cash by the sounds of it
Grendel
Well-Known Member
going well
www.independent.co.uk
Starmer suspends seven rebel MPs including McDonnell over two-child benefit cap vote
Show of strength by new Labour prime minister after work and pensions secretary Liz Kendall said the government had to do ‘the sums’ before it could commit to abolishing the limit
www.independent.co.uk
fernandopartridge
Well-Known Member
Labour continuing to justify why I did not vote for them