UK Politics Thread part II

[Jimbuna]

^ I'll not type a response in public on the above Markus but is this the right time so early after her passing...

[mapuc]

Originally Posted by Jimbuna

^ I'll not type a response in public on the above Markus but is this the right time so early after her passing...

You are right I feel ashamed (The post will be erased)

Markus

[Jimbuna]

A mini Budget to outline how the government intends to pay for measures to tackle the cost-of-living crisis is still set to take place this month.

Politics has largely been put on hold during the 10-day period of mourning for the Queen, which lasts until her funeral on Monday.

But No 10 said it would deliver a "fiscal event" this month.

Some new ministers are also yet to be appointed, after Liz Truss became prime minister last Tuesday.

[Jimbuna]

A mini Budget to deliver tax cuts promised by Liz Truss during her Tory leadership campaign will take place on Friday next week, it is understood.
https://www.bbc.co.uk/news/uk-politics-62917548

[Jimbuna]

The indyref2 questions facing the Supreme Court

https://www.bbc.co.uk/news/uk-scotla...itics-61974087

[Jimbuna]

The prime minister has said that higher energy bills "are a price worth paying" for the UK's long-term security.

Liz Truss is in New York for the UN General Assembly where she will use her speech to rally support for Ukraine.

Typical household energy bills will rise to £2,500 a year from 1 October, in part due to reductions in Russian gas exports during the war in Ukraine.

Ms Truss said the UK "cannot jeopardise our security for the sake of cheap energy".

Speaking to BBC Political Editor Chris Mason on her flight to New York, Ms Truss said higher fuel bills were "a price worth paying for Britain, because our long-term security is paramount".

But she said plans to be outlined later this week would curb future energy bill increases, and "guarantee" that households "won't have to pay fuel bills that are unaffordable".

Labour have said plans set out by Ms Truss "will not cut bills, nor will they strengthen our energy security".
https://www.bbc.co.uk/news/uk-politics-62968072

[Jimbuna]

UK considers joining new European nations club

The UK is weighing up whether to attend a new European political "club of nations" next month.

The first meeting of the "European Political Community" is due to be held in Prague in early October.

Downing Street wants to see more detail on the summit before Prime Minister Liz Truss commits to attending it and no final decision has been made.

The European Political Community is an idea championed by the French President Emmanuel Macron.

He proposed it, in May, as a "new space" for co-operation.

Mr Macron suggested the group could discuss security, energy and transport as well as the movement of people, particularly the young.

The broad intention is to establish a forum that goes beyond the immediate 27 EU member states.

Similar ideas have been floated for decades but this is the first big push for such a forum since Brexit.

UK officials are said to be seeking assurances that the meeting will not be too dominated by EU countries or institutions.

Britain would want to see other "big players" from outside the EU in attendance.

All 27 members of the EU are set to be invited as well as the UK, Ukraine, Norway, Switzerland and Turkey.

Six Western Balkans nations are also likely to be invited, along with Iceland, Liechtenstein, Moldova, Georgia, Armenia and Azerbaijan.

EU officials have told the BBC that a "save the date" memo has gone to capitals, with formal invitations to follow.

But, before responding, there are indications Britain also wants to consult Ukraine's government, as well as the defensive military alliance, Nato.

The inaugural meeting of the "European Political Community" is due to take place on 6 October in the Czech capital, Prague.
https://www.bbc.co.uk/news/uk-politics-62967084

[Jimbuna]

[Moonlight]

Kwasinomics
Well, all I can say is this mini budget will put the country in even more debt than we've ever been in before, I think that the £3 Trillion National debt could be hit in our lifetime and it's mostly down to Tory Failed Economics. What we've had in Westminster since the year 2010 is University types who have never experienced the real life struggles that the peasants go through on a daily basis, if they had that experience to call on, just maybe, they might have seen their way out of this mess, as it is, the British Class System is bringing the country down to its knees.
Jobs for the boys, it's not what you know but who you know, that's what is wrong here, no one has been getting promoted on merit and over time we've ended up with these bleeding failures, and it will only get worse as time goes by.

At a glance: What's in the mini-budget?
Income tax
A cut in the basic rate of income tax to 18% would have been better, and he should have kept the 45% higher rate of income tax too.

Cut in basic rate of income tax to 19% from April 2023
Government estimates 31 million people getting £170 a year more
Currently, people in England, Wales and Northern Ireland pay 20% on any annual earning between £12,571 to £50,270 - rates in Scotland are different
45% higher rate of income tax abolished for England, Wales and Northern Ireland taxpayers
One single higher rate of income tax of 40% from April next year

National Insurance
Nothing to complain about here.

Reverse recent rise in National Insurance (NI) from 6 November
Workers and employers have paid an extra 1.25p in the pound since April
New Health and Social Care Levy to pay for the NHS will not be introduced.

Corporation tax
This should have been left as it is, it's a tax on the profits a company makes, if you don't make profits you don't get taxed on it, simples.

Cancel UK-wide rise in corporation tax which was due to increase from 19% to 25% in April 2023.

Benefits
Here we go again, it's always the working classes at fault and not the tax dodgers, let me remind you once again Kwasimodo that tax dodgers cost the country at least 10 times more in lost revenue than the working classes cost in benefits. Stick that in your pipe and smoke it you bleeding moron.

Rules around universal credit tightened, by reducing benefits if people don't fulfil job search commitments
Around 120,000 more people on Universal Credit to be asked to take steps to seek more work, or face having their benefits reduced
Jobseekers over 50 to be given extra time with work coaches to help them return to job market

Stamp duty
200,000 more people will be taken out of paying stamp duty altogether the government claims, they pull these numbers out of thin air just like Theresa May's magic money tree.

Cut to stamp duty which is paid when people buy a property in England and Northern Ireland
No stamp duty on first £250,000 and for first time buyers that rises to £425,000 - comes into operation today
200,000 more people will be taken out of paying stamp duty altogether, government claims

Energy
I don't think this will do any good at all, it won't bring your energy bill down and that's a fact.

Freeze on energy bills, which the government claims will reduce inflation by 5 percentage points.
Total cost for the energy package expected to be around £60bn for the six months from October

Bankers' bonuses
Kwasi you thick currant, all the banks did to counter that was to increase their salary, just how thick are you and Truss?.

Rules which limit bankers' bonuses scrapped
Package of regulatory reforms to be set out later in the autumn

Shopping
WTF is this bollocks Kwasi, you should be helping the peasants of England out instead of some bleeding wealthy foreigners. I can see what you're up to Kwasi, get everyone in a drunken stupor so that they couldn't care what you're bleeding doing

VAT-free shopping for overseas visitors
Planned increases in the duties on beer, for cider, for wine, and for spirits cancelled

[Jimbuna]

The Bank of England says it won't hesitate to raise interest rates by as much as needed to return inflation to the 2% target.

It says it is monitoring developments in the financial markets very closely, after the pound fell to a record low this morning.

Meanwhile, the Treasury has confirmed it will set out a medium-term fiscal plan on 23 November - seen as a bid to calm the markets.

It will come with an Office for Budget Responsibility forecast - an independent assessment of the nation's finances.

The raft of tax cuts announced by the chancellor on Friday did not come with an OBR report.

A low pound means it will cost more to import commodities - including oil and gas - that are priced in dollars.

[Jimbuna]

Five ways the falling pound could affect your money

Higher prices: A fall in the value of the pound against other currencies will increase the price of goods and services we import. Firms could pass on higher prices to customers.

Fuel bills: Oil prices are based on the dollar means that petrol and diesel could be more expensive. Although oil prices have been falling in recent weeks, drivers are not likely to see the benefit at the pump due to the slide in the value of the pound.

Stronger sales for UK firms who sell goods abroad: A cheaper pound makes it less expensive for people from around the globe to buy goods and services from British firms, making them more competitive.

Higher repayments for some mortgages: Some two million people in the UK on a tracker or variable rate mortgage could see their monthly costs going up even further as a result.

More expensive trips abroad: The plunge in the pound means that holiday money won't stretch as far on things such as hotels and meals out - especially in the US.

[Jimbuna]

Labour leader Sir Keir Starmer attempts to reposition the Labour Party in a major speech to conference in Liverpool.

Sir Keir promises a "fresh start" for the UK, and pledges to invest in the NHS, green energy and "spread opportunity to all"

He says the Conservative government has lost control of the economy with its tax cutting agenda - "don't forget, don't forgive", he says.

He says they "crashed the pound" and vowed to get the UK out of an "endless cycle of crisis"

He says the war in Ukraine was the spark that caused rising energy costs, but that the country was not in a position to deal with it.

He pledges to set up a publicly-owned green energy company within a year if he is elected, with 100% clean power by 2030

And he vowed that a Labour government would "make Brexit work" and "deliver change" in Scotland - but would not do a deal with the SNP

[Catfish]

^ The NHS is a good thing in my book.
"Make brexit work" will still be the winning party slogan of a hundred years ahead.
But as long as uk politicians promise to "make brexit work" to a majority of people that really rejected it (brexit getting a small majority just by some being too lazy to vote) such promises probably will not have the desired effect.

[Jimbuna]

[Jimbuna]

The Bank of England announces it will step in to calm markets after the government's tax-cutting plans causes the pound to slide.

The Bank said it would buy government bonds on a temporary basis to help "restore orderly market conditions"

The pound tumbled to $1.05 after the news, down almost 1.6% against the dollar.

It comes as financial leaders react to the International Monetary Fund's criticism of the UK's tax-cut plan.

In its unusually blunt statement, the IMF says the £45bn proposal is risky and will "likely increase inequality"

It says the government's planned fiscal statement on 23 November could be an early chance to "re-evaluate" the tax changes.

But Labour leader Keir Starmer calls on the government to "urgently review" the plan before then.

UK Chancellor Kwasi Kwarteng has strongly defended the tax cuts - he is meeting with investment banks today.