1. First real test of her leadership and Truss already seems paralyzed. If Boris were in charge now, we'd already be several scandals on from 'fucked the economy'.

  2. GBP-USD is now above what it was prior to the announcement on Friday. However short-lived this is, Kwarteng et al will spin this as a win for the mini budget and push on through.

  3. So.. how does Truss actually fix this? She can't convince traders who've just sold their stocks/sterling to buy them back.

  4. Depends. If the market crashes what will the banks be willing to lend? Could snap up a bargain property but end up paying a higher mortgage than now due to interest rates.

  5. Labour, whose last government saw the highest value of the pound versus the dollar since 1981? Someone needs to tuck Ashcroft in for the night.

  6. There’s 30 or so MPs surely that know they’ll lose their seats regardless of what happens now till 2024. And some others who will be stepping down. Best just to resign the whip. Not much to lose is there?

  7. I'd imagine some of them would be looking at regaining their seats down the line post-election defeat as well. And if any defeat is disastrous enough, and some MPs now decide not to bother, there'll potentially be plenty of winnable ones up for grabs.

  8. Something that's been weighing on my mind is that, while my parents (safe Tory voters) were visiting, my dad said something along the lines of 'now the Tories are stealing Labours silly ideas, like borrowing etc'. I didn't want to say the Tories have actually borrowed more in total and more relatively than Labour, but it stuck with me because I don't know whether he realises that he admitted Labours policies are either A, necessary in a crisis, or B, actually a good idea.

  9. I’ve had some requests from solicitors to pay for checks and do some ID stuff today so it’s progressing but I’m still worrying the rug could be pulled at any moment.

  10. Sorry to hear that! I’m wondering if I’m about to have to do the same. Had an offer accepted and applied for a mortgage. Paid nationwide £400 2 weeks ago to lock in the rate. But given the state of the market I’m expecting they won’t honour it.

  11. Where the fuck is Liz Truss.... Seriously, where's the prime minster.Absolutely staggering she's gone and done a Boris

  12. As much as I feel sick for saying it, Truss may actually be worse than Johnson. In general, and in this specific regard for staying out of sight for several consecutive days, and during a much worse crisis than most of the times Johnson was absent.

  13. If she opens her mouth the economy will crash. This is her dream economic plan. This plan is what she always wanted. It's (the start of) Britannia Unchained. But if she comes out and says that, and that there's more of this to come... that'll tank everything.

  14. All this talk of efficiency savings, time to reheat an old campaign. Post me the cheque first thing, Liz.

  15. Or at the very least I’m sure the Tories wouldn’t mind another audit of expenses claims. You know, to find efficiencies…

  16. Looks that way, big thing about Globalisation is every economy is interconnected, could very well be with the way all the markets are looking this is one of the primary drivers into a international recession

  17. It's at times like this that I like to, once again, play the game of "what if it was Corbyn, who:"

  18. The daily mail would've had so much outrage and anger that the density of it would've formed a singularity in the offices and devoured a significant part of Kensington.

  19. Someone in this thread an hour or two ago was saying its good corbyn isnt in because whats happening right now under the tories would likely happen under labour. Full on brain worms. Its like the yanks posting pictures of empty shelves under trump and saying this is what life under bernie sanders would look like.

  20. So when bankers collapsed the economy 14 years ago they faced no repercussions, now politicians are doing the same they'll also face no repercussions. Actions really have no consequences for the rich and powerful. The level of what should be criminality are astounding

  21. may be international politics but watching the other currencies go down as well as the pound and the affect this having on the US dollar

  22. Almost underplaying it, danger is usually a possible threat whereas as we've already seen the damage caused in real time.

  23. Considering the last time he did something it tanked the market I don't see how Kwasi saying "there's more to come" is supposed to reassure me.

  24. That BBC reporter on 6 news report who was interviewing Starmer, did he ask any other questions other than attempting to get the "gotcha! You want to give normal people lower energy bills and a small NI decrease!"

  25. What happens if Whitehall flat out refuses to find "efficiency savings"? They've already cut everything to the bone, the public sector won't be able to function after finding the savings the government needs to prop up their mini budget.

  26. Do the Tory party want to end up with less than 100 seats because this is how you get there public cuts to fund a tax cut for the rich absolute political insanity

  27. They're pissing off some of the most classic Tory voting members of the public you can think off, middle class professionals in the home counties who value economic competency and safe politics.

  28. Can’t help but think they expected the cuts to NI and to basic rate income tax to be a lot more popular than they were.

  29. They'll pay for it at the ballot box. Conference for them will be a shit show and I can see them suffering a battering in the 2023 locals and a general election.

  30. If they really believe in this (and they do considering they wrote a book on it a decade ago), then Truss and Kwarteng can afford to play chicken with the Party. What are they going to do? Change leader twice in one term?

  31. Any cut made now is going to be portrayed as a cut to pay for the cut to the top rate of tax (even though that’s less than 10% of the tax cuts made). It’s going to play so badly.

  32. What spending efficiencies can be found? A decade of cuts means shit don't work as it is, now we're giving it less?

  33. Defence is probably the easiest one to cut without the public noticing almost immediately, but I'm not sure there's enough money in it to make much difference

  34. Cutting public services down even further. We are practically shaving the bones of our public institutions. NHS, Police, Fire, Civil Service - it's already dismal across the entire board.

  35. The Express isn't a paper. If the story came out about their former editor into necrophilia, that paper wouldn't be publishing today.

  36. No one likes to watch their world burning (well except UKpol users) people read it because it tells them what they want to hear.

  37. Brill, so now we're cutting public spending as well. I didn't think we could get worse than Boris but I may have been wrong.

  38. Bit of a sidebar but the strike ballots for PCS (the bureaucrats union) went out today, with the marquee demand being a 10% pay rise.

  39. What are some straightforward escape routes for those fortunate enough for it to be possible to keep their job whilst doing so? It feels so hard to move anywhere even with that extremely welcome help

  40. I think we all knew this government was going to be bad, but did any of us predict it was going to be evident this soon?

  41. Consider that the death of the Queen basically froze parliamentary business for almost two weeks. This means Truss has fucked it in about four working days or something like that.

  42. Nah I expected bounce and slow decline over a course of a year. I did not expect the bounce to end up being just a tinny jump and then everything crashing down like a lead balloon in space of 3 weeks

  43. I know I'm preaching to the choir but it's ludicrous these Brittania Unchained psychos are in power with absolutely zero mandate for their sweeping supply side reforms. I can't wait for the huge GDP boost of cutting everyone's paid holidays and sick leave allowances.

  44. "we all need to live within our means" reads an email sent from the CEO of the company I work for, who is paid in excess of £1.5m a year and owns multiple houses.

  45. That's the same thing I'm reading in trading forums and groups. They are expecting more action next week, a dip to .95, then parity.

  46. They would make more money in interest, but assuming inflation stays the same, the relative value of that money would be down, and they might end up even. It really depends on how high they raise rates relative to inflation.

  47. Keri Starmer should be hammering them for a general election at this point I think. The country is getting fucked from several angles and should focus the point the Tories are so incredibly dense and arrogant to fix things and have another chance at changing leadership.

  48. The tories will never call an early election. I'd be supised if they don't try and delay it past 2024 somehow.

  49. You tell us, your media is more likely to have given honest reportage on that than ours. Our press is too addicted to the idea of the special relationship to give honest accounting of the relations between presidents and PMs.

  50. Oh, here we go more spending cuts according to bbc reporting, the cancellor sending out a letter to departments telling them to "live within their means"

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