Do you want to discuss boring politics? (27 Viewers)

[Captain Dart]

More Labour balls ups.

 

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[Mucca Mad Boys]

That Labour government was brought down by Parliament, this one with such a big majority would need to be brought down by its own MPs. Not happening.

We need to focus on giving Labour at least a full term to sort their shit out, considering how long we gave their predecessors. I say it in blind hope rather than expectation as I can’t underscore enough how much of a disaster a Reform government will be.

The same MPs that revolted over £5bn (or whatever it was) in benefits cuts?

With the Greens waiting in the wings, it’s a v dangerous time for the Labour Party.

 

[Ccfcisparks]

More Labour balls ups.

Which murder is that?

 

[Captain Dart]

The stock market is so happy about Reeves speech, just so happy.

 

[CCFCSteve]

The same MPs that revolted over £5bn (or whatever it was) in benefits cuts?

With the Greens waiting in the wings, it’s a v dangerous time for the Labour Party.

Should’ve fronted up to them last year. The welfare changes were botched* but sure there could’ve been a way around it ie just focussing purely on metal health claimants for starters. The left of the party cried austerity when all it was trying to do was slow the rapid forecasted increase and show they have a semblance of control over spending. Said it before and I’ll say it again, if people keep being asked to pay more from their taxes and they don’t see that cash being spent well and improvements in public services, labour are done.

*same as WFP

 

[CCFCSteve]

View attachment 46953
The stock market is so happy about Reeves speech, just so happy.

To be fair it’s bounced back since. Most will await the budget before passing judgement

 

[Brighton Sky Blue]

The same MPs that revolted over £5bn (or whatever it was) in benefits cuts?

With the Greens waiting in the wings, it’s a v dangerous time for the Labour Party.

That is entirely different to bringing about an election where you’re nailed on to lose your seat.

 

[Mucca Mad Boys]

Should’ve fronted up to them last year. The welfare changes were botched* but sure there could’ve been a way around it ie just focussing purely on metal health claimants for starters. The left of the party cried austerity when all it was trying to do was slow the rapid forecasted increase and show they have a semblance of control over spending. Said it before and I’ll say it again, if people keep being asked to pay more from their taxes and they don’t see that cash being spent well and improvements in public services, labour are done.

*same as WFP

I don’t think Reeves planned to raise income tax in the end, she has just botched her budgets. Spending has increased more than planned and raising minimum wage in addition to increasing employer’s NI has predictably hit low income workers the most. Borrowing has gone up, gilt yields have followed which increases interest of government debt that increases overall public spending.

The lesson Labour seem to have taken from Liz Truss’ mini budget is that ‘tax cuts’ cause the market meltdown, no… it was the overall government balance sheet that kicked it off because they proposed one massive spending increased couple with significant a revenue drop.

 

[wingy]

To be fair it’s bounced back since. Most will await the budget before passing judgement

Why is the budget so late this year,or am I mistaken?

 

[Brighton Sky Blue]

I don’t think Reeves planned to raise income tax in the end, she has just botched her budgets. Spending has increased more than planned and raising minimum wage in addition to increasing employer’s NI has predictably hit low income workers the most. Borrowing has gone up, gilt yields have followed which increases interest of government debt that increases overall public spending.

The lesson Labour seem to have taken from Liz Truss’ mini budget is that ‘tax cuts’ cause the market meltdown, no… it was the overall government balance sheet that kicked it off because they proposed one massive spending increased couple with significant a revenue drop.

Not sure why tax cuts is in inverted commas here buddy

 

[Mucca Mad Boys]

Not sure why tax cuts is in inverted commas here buddy

The reason for that is that the changes never came into force… whereas the utility bill support actually did immediately.

 

[Brighton Sky Blue]

The reason for that is that the changes never came into force… whereas the utility bill support actually did immediately.

Separate to that you said above that a higher minimum wage has hit low income workers the most. Can you explain how please?

 

[wingy]

Separate to that you said above that a higher minimum wage has hit low income workers the most. Can you explain how please?

Poking nose in,lack of opportunity?

 

[Brighton Sky Blue]

Poking nose in,lack of opportunity?

The statement reads like a contradiction so I’m just interested to understand what he means

 

[Sky Blue Pete]

The prison crisis is one of those things that you just can’t pin on the Labour government

More than one person has reoffended on release but what choice is there

 

[Grendel]

The prison crisis is one of those things that you just can’t pin on the Labour government

More than one person has reoffended on release but what choice is there

Stick 4 in a cell

 

[Sky Blue Pete]

Stick 4 in a cell

There’s rules grendel

 

[CCFCSteve]

I

Why is the budget so late this year,or am I mistaken?

Im guessing it was left as late as possible in the hope that bond yields would drop. It was a good move as they have, which should reduce borrowing cost projections. although productivity numbers have also come in lower in the intervening period (obviously bad) I presume these would’ve been released pre budget whenever it was held.

 

[fernandopartridge]

Backing themselves into that corner was dumb.

Edit: anyone notice how her voice is weirdly similar (read: irritating) to Starmer's? It shouldn't matter, but...

Tories broke the same 'no tax rises' pledge just a few years ago.

I don't know why parties continually make such a promise, always comes back to bite you.

Of course it's much more of an issue when this government does it

This government was the party of the change remember

 

[Bugsy]

There’s rules grendel

The rules should go out the window if you commit a crime.

 

[Mucca Mad Boys]

Separate to that you said above that a higher minimum wage has hit low income workers the most. Can you explain how please?

It’s the double whammy to employers who have responded by cutting jobs and hours to absorb the costs.

The point was that employers could probably absorb one of the costs, but not both and it’s showing in the decline of job vacancies.

 

[Sky Blue Pete]

The rules should go out the window if you commit a crime.

Don’t be silly bugsy
There’s good reason for many of the rules unless you juat want to have a criminal underclass that can’t break the cycle

 

[Marty]

The prison crisis is one of those things that you just can’t pin on the Labour government

More than one person has reoffended on release but what choice is there

Ram the prisons full.

 

[CCFCSteve]

I don’t think Reeves planned to raise income tax in the end, she has just botched her budgets. Spending has increased more than planned and raising minimum wage in addition to increasing employer’s NI has predictably hit low income workers the most. Borrowing has gone up, gilt yields have followed which increases interest of government debt that increases overall public spending.

The lesson Labour seem to have taken from Liz Truss’ mini budget is that ‘tax cuts’ cause the market meltdown, no… it was the overall government balance sheet that kicked it off because they proposed one massive spending increased couple with significant a revenue drop.

Agreed. I don’t think it was her intention to raise main taxes, even if the manifesto promise was ridiculous and unnecessary. Unfortunately certain elements outside her control like higher global bond yields, have been exacerbated by own goals such as increasing emp’ers NIC (which didn’t help inflation) and party resistance to any spending controls, which have worsened the overall fiscal position.

The crazy thing is, by not showing even a semblance of perceived control over spending we are probably paying more to borrow, thereby reducing the cash available to spend on public services. We will all have to pay for that now. Unintended but pretty obvious consequences .

 

[Brighton Sky Blue]

Agreed. I don’t think it was her intention to raise main taxes, even if the manifesto promise was ridiculous and unnecessary. Unfortunately certain elements outside her control like higher global bond yields, have been exacerbated by own goals such as increasing emp’ers NIC (which didn’t help inflation) and party resistance to any spending controls, which have worsened the overall fiscal position.

The crazy thing is, by not showing even a semblance of perceived control over spending we are probably paying more to borrow, thereby reducing the cash available to spend on public services. We will all have to pay for that now. Unintended but pretty obvious consequences .

I find the situation bizarre. Spending apparently out of control but no tangible difference to public services, cost of living and so on.

So where is all the extra money going?

 

[Mucca Mad Boys]

I find the situation bizarre. Spending apparently out of control but no tangible difference to public services, cost of living and so on.

So where is all the extra money going?

… Is the penny is finally starting to drop?

A lot of people on here just assumed productivity would grow if you chucked money at public services. We voted out the Tories and the convenient ‘boogeyman’ of Tory cuts (even though there no actual cuts to the NHS) can’t be blamed.

 

[Brighton Sky Blue]

… Is the penny is finally starting to drop?

A lot of people on here just assumed productivity would grow if you chucked money at public services. We voted out the Tories and the convenient ‘boogeyman’ of Tory cuts (even though there no actual cuts to the NHS) can’t be blamed.

You don’t need to take a patronising tone to be honest, but my question actually hasn’t been answered. Where has all this extra money gone?

 

[Sky Blue Pete]

Ram the prisons full.

Then expect everything to get worse

 

[Marty]

Then expect everything to get worse

Why would they get worse?

 

[Sky Blue Pete]

Why would they get worse?

No time or space for reflection, training, education work responsibility and rehabilitation just one merry go round of punish and reoffend until you die

 

[Marty]

No time or space for reflection, training, education work responsibility and rehabilitation just one merry go round of punish and reoffend until you die

If you can't be trusted on the outside you shouldn't be released from prison.

 

[CCFCSteve]

I find the situation bizarre. Spending apparently out of control but no tangible difference to public services, cost of living and so on.

So where is all the extra money going?

I think out of control is a little OTT. More that there’s projected significant increases in say welfare and pensions if we remain on the current path, so they just need to show it’s in mind and they will at least try to keep it in check.

I also do wonder where it’s all going, although a lot has gone in additional interest to be fair. Ultimately though, it’s only been a year, what people expected to change in 12 months I don’t know.

 

[Sky Blue Pete]

If you can't be trusted on the outside you shouldn't be released from prison.

How many prison places are you proposing at £80000 a pop a year

 

[Marty]

How many prison places are you proposing at £80000 a pop a year

At that price, none.

 

[wingy]

Agreed. I don’t think it was her intention to raise main taxes, even if the manifesto promise was ridiculous and unnecessary. Unfortunately certain elements outside her control like higher global bond yields, have been exacerbated by own goals such as increasing emp’ers NIC (which didn’t help inflation) and party resistance to any spending controls, which have worsened the overall fiscal position.

The crazy thing is, by not showing even a semblance of perceived control over spending we are probably paying more to borrow, thereby reducing the cash available to spend on public services. We will all have to pay for that now. Unintended but pretty obvious consequences .

Can you predict the BOE interest over say six months?