Actions have consequences

The free market ideologues found themselves immediately let down by the markets they worship. Sterling started to slide. Gilt yields started to rise.

Sure.

And the problem with solving the trade deficit, at least approaching positive returns to capital, is?

17 thoughts on “Actions have consequences”

  1. Queasy Kwarteng has u-turned on the 45p tax. Idiot, that means the media and Tory wets realise they can hold the givt to ransom.
    If Gove diesnt likeut, he can cross the floor – the plastic straw banning twat.

  2. Queasy Kwarteng has u-turned on the 45p tax.

    That is fucking mental. They’ve already taken the pain, they won’t get a shred of credit for saying “Whoops! We didn’t mean it, honest!”. All it will do will embolden the bbc/grauniad blob and the tory wets, who should all just fuck off and join the lib dims anyway.

    I hope this completely destroys the tories. I used to think we needed to wipe out labour first; now it’s clear it really doesn’t matter which goes first as long as both are history soonest.

  3. That is fucking mental. They’ve already taken the pain, they won’t get a shred of credit for saying “Whoops! We didn’t mean it, honest!”. All it will do will embolden the bbc/grauniad blob and the tory wets, who should all just fuck off and join the lib dims anyway.

    Yarp.

    It’s like when Boris got pressured – against his better judgement – into turning over the running of the country to Neil Ferguson’s spreadsheet.

  4. The Evening Standard:

    Liz Truss plans to loosen immigration rules in bid for growth

    The Prime Minister is expected to review the shortage occupation list, designed to help migrants get work visas to fill vacancies in the UK

    Somehow I don’t think there’ll be a threatened backbench rebellion over this beezer of a policy.

    Vote Conservative for high taxes and more immigrants to compete for your job.

  5. Truss has also doubled down on Net Zero and will allow onshore wind projects to breeze through planning. A surefire vote winner in soon-to-be-blighted constituencies the nation over.

    She’s the most dangerous Thatcherite evah, you know?

  6. Surely when there’s shortages of whatever, you take whatever you can get rather than stamping your foot and screaming for immigrants. There’s no avocados in the shop. “So, buy an apple”. NO!!! I WANT MY AVOCARDO!!11!!!!!1 GIMMIE MY AVOCADO!!!!!!!!!!!!!!!!!!!!!!!

    Bloody morons should be treated like the children they are displaying themselves to be and given a good wallop.

    There’s no shortages eg: of software engineers until you’ve employed me as a software engineer. *THEN* you can go scouting for additional supply. Only once you’ve stopped telling the local workforce to fuck off, then you can go importing foreign workers.

  7. Jgh – based on how UK Gov defines “skilled” migrants, we can safely assume the majority of new arrivals will immediately be on tax credits, child support and housing benefit. So we’re spending more taxpayer dosh to ensure people already living here don’t get too cocky demanding cost of living pay rises.

    Truly, I say unto you, immigration will make us rich.

  8. “There’s no shortages eg: of software engineers until you’ve employed me as a software engineer.”

    You’re saying you can’t get a job as a software engineer? How are you managing this?

  9. So the government forces pension funds to own a certain amount of gilts (which the pension funds don’t want), but the government allows them to use said gilts as collateral for loans, so undermining the governments said purpose of pension fund stability. I appreciate the stability the government might have been looking for was between income and expenses, but to ignore the stability/ impact on value of the underlying funds appears naive at best.

  10. So Gordon Brown laid two traps for the Tories. The 45% top rate and the rule that pensions must invest in gilts.

  11. “Why Richard, it profit a man nothing to give his soul for the whole world. . . but for five pence!”

  12. The problem with skilled immigrants is that they can just as easily immigrate somewhere else if your economy suffers a down turn. Then all you’re left with is a bunch of dolees with their hands out and an expectant look on their faces. Oops! More “bad luck.”

  13. @BiW

    “They’ve already taken the pain, they won’t get a shred of credit for saying “Whoops! We didn’t mean it, honest!”.”

    I fear that it was actually a rational choice and they’re not doing it for any extra credit – but rather because they’ve run the numbers and realised they wouldn’t be able to get the 45p cut through Parliament due to the backbenchers rebelling. If so they are just trying to avoid making things worse and the wheels completely falling off – if their plans bombed in the Commons it would likely set off another wave of market panic due to the extra uncertainty and doubts they’ll get any supply side reform passed.

  14. Anon

    She should have ignored her own rebels and called their bluff. Lose the vote and the resulting chaos would have been 100% on those rebels. Sometimes these things need to get dirty and very personal (especially when it comes to reptiles like Gove). Whereas bottling out with a u-turn has holed her below the waterline… She’s now a lame duck.

  15. I would remind those gathered here again, all the PM’s since Wilson bar 3 were educated at Oxford* **.
    Brown was at Edinburgh, the Jockish Oxford
    Callaghan sat & passed the Oxford entrance exam but couldn’t afford to go.
    Major was screwing Edwina Currie who attended Oxford
    If you shop in the bargains & rejects basement department Of Flash Harry’s Discount Store you get what you pay for.

    *The Blessed Margaret studied chemistry at OXford. A real subject so shouldn’t count.
    ** Sir Kneeler, who could possibly be your next PM, graduated from…wait for it…Oxford

  16. Of course, the ever loyal Tories could stab Truss in the back before the next election and enthrone Gove. And guess where he attended university, children. OXFORD!

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