Chancellor Kwasi Kwarteng delivered a mini budget unfit to purpose by giving away a large slice of the government’s current income to rely heavily on borrowing instead. Cuts in government income and National Insurance is sure to have an impact on this government’s abilities to deliver on previous promises of improvements to the NHS and the seemingly forgotten pledge of ‘ levelling-up’. What’s also gone from the mandate of which this government was elected to do is the commitment to ‘Net Zero’ by scrapping or postponing the funding which was set aside to do this. So on almost all mandates from the 2019 Conservative Election Manifesto they have broken almost every Election Pledge. This goes to show that the Tories can’t be trusted to deliver.
Now Kwarteng is gambling with the economy. He has tried to convince us that he is a genius but instead he has shown that he has only a rudimentary grasp of economics. His most recent attempt shows that he can master smoke and mirrors. The majority of us in the UK will receive a mere 1 penny in the pound amounting to 2 bars of soap and a litre of milk over the course of a month and we are supposed to be grateful for that: whilst the rich benefit disproportionately. To achieve this Kwarteng has sacrificed the government’s income and instead has reverted to borrowing to keep the County afloat. This equates to a situation of being afloat in the middle of the ocean in a boat full of holes which is sinking, whilst sending out a Mayday call to the Super Rich to come and rescue us. I doubt there will be much interest as the Rich will just remain at home counting their increased riches which this mini budget has so kindly laid at their doorstep.
Continue reading Clueless Kwarteng borrowing time and giving to the rich
As we await the bold plan of the latest installment of the Tory Prime Minister number 4 , Liz Tuss, I am reminded of another bold and cunning plan by Baldrick of Black Adder fame. It might appear that the 2 have something in common with one another with the announcements of both that they have a bold and cunning plan. The similarities might not just end there though because Baldruck’s plans always came to nought and similarly those of Liz Truss’s may have the same auspicious ending as well. I suppose only time will tell. However during the leadership race I was pretty unconvinced by Truss whose wooly thinking often exposed her. I was also not convinced that Truss had any edge at all over Sunak and mostly to the contrary actually I thought Sunak gave the more convincing arguments. Remember that Truss’s plans to alter income tax actually didn’t benefit Pensioners at all. What struck me most about Truss’s win was that there must be a severe lack of any real talent at all in the Conservative Party at the moment if Truss was eventually crowned as the preferred candidate.
Continue reading Baldrick also had a bold and cunning plan: which like Truss’s will come to nothing
This post has been made in response to Kevin Peachey’s article that appeared today on the BBC’s App and website https://www.bbc.co.uk/news/business-57764601 .It is widely expected that the Bank of England will raise interest rates today in order to tackle Inflation. This is a very predictable text book response to Inflation and seen by many as the preferred method to tackle Inflation. The BBC has inferred that this Inflation is as a result of the lack of goods in the Economy after the Pandemic. From what I remember of the Pandemic is wasn’t goods availability that was problematic it was just that there appeared to be a shift away from people actually going to get goods to a situation whereby goods were being mainly ordered and delivered. Sure enough there was some drop in production but this didn’t impact greatly on availability. There was however more of a drop in services in that sector of the Economy. However today all I ever see down our street and on our estate is loads and loads of delivery vans constantly shuffling about and delivering goods to people’s homes via Amazon and DPD to name but a few. Also I myself have ordered much since the Pandemic ended and have enjoyed taking advantage of one day delivery schemes. So when the BBC state lack of goods as a cause of this current period of Inflation , I simply have to laugh. I have never recently gone onto the Internet and Amazon, in particular, where I remember being informed that the goods that I wished to order were out of stock. This has been my recent experience. So where is this shortage of goods driving this Inflation? It simply does not exist but has become an easy scapegoat to avoid the real finger of suspicion.
The real cause of Inflation is the greedy energy and utilities companies hiking up profits and disguising these as pass on costs.
Continue reading It is widely expected that the Bank of England will raise interests rates today : why is this wrong to do so?
Neither Rishi Sunak nor Liz Truss have the ideas needed to tackle the current financial crisis and inflation. Both are completely aware of the others failings as was demonstrated in this weeks TV debate. As Truss pointed out, Sunak’s policies are likely to lead to inflation and as Sunak pointed out, Truss’s policies to scrap tax rises will increase borrowing and interfere with Britain’s ambition to reach Carbon Net Zero pledges and targets which could also possibly to lead to increased mortgage rates in the long term. Neither of these candidates for the role of Britain’s next Prime Minister are equipped to deal with the crisis of inflation and do what is necessary to tackle this issue. Sunak and Truss: both are bereft of real ideas to tackle inflation. So what’s to be done?
Continue reading Sunak and Truss: both are bereft of real ideas to tackle inflation
With a likely ‘No Deal Brexit’ looming and an immature megalomaniac now running the show ( more of a pantomime really) it would appear that the Tories have opted for a course of political suicide. A no deal Brexit will no doubt be a disaster for the UK’s Economy. This is something that the public will never forgive or forget. Oh no we won’t! They will hold the Conservatives accountable for this impending disaster and rightly so because what we have now is an administration run by ruthess & reckless Brexiteers and a Prime Minister who seems more concerned about morphing into Farage MkII, None of which have considered the likely impact of a no deal Brexit on the ordinary people of Britain. This administration led by Boris Johnson (Bodge-it Johnson) seem determined to take us out the EU without a deal regardless of the consequences. This Conservative Party will be forever remembered as the party of no deal, the ‘No Deal Tories’ who damaged Britain. Bodge has insured that his name will not be forgotten nor will it be revered and yet he still may go on to steal the accolade of being Britain’s worst Prime Minister a title which David Cameron currently holds.
Is this really the best plan that the Tories could come up with: put a childish megalomaniac in charge and damn the consequences? The Tories opt for political suicide
By putting in a position of power a spoilt and childish megalomaniac in charge of dealing with this sensitive issue they seem only to have angered the Europeans and rightly so. This in my opinion is opting for an act of political suicide. I am not so concerned about this but the impact of a no deal on the UK is what concerns me more. Yes I would like to see the Conservatives disappear but not by having to pay the price of huge economic catastrophe that leaving the EU without a deal or leaving at all will obviously be. I don’t want to see my country wrecked by the lunacy of a stupidly childish megalomaniac more intent on making a name for himself than having a care for the the citizens of the UK. This in my opinion is a treasonous act of irresponsibility. Generations to come will feel the disastrous consequences of leaving the EU without a deal and that is what concerns me.
Let the Tories opt for political suicide but count me out
If Bodge-it wants to commit political suicide and drive the Tories over the edge of a cliff well count me out from such yobbish behaviour and count out all the reasonable and sane people who can see the error of this. Many British citizens will pay the price for this reckless gamble with their jobs, their livelihood and their homes for nothing other than the political meanderings of a bunch of foolish politicians intent upon misleading the public. Having no Tory Party and having no Boris Johnson would not be a bad thing, but living in a severely harmed UK would be! In the future post Brexit there will be nowhere for the Tories to hide and no excuses to make for they themselves have chosen to opt to gamble recklessly with the UK’s economic position and wellbeing, They, themselves, put in charge a childish megalomaniac intent upon dealing with the issue childishly and smashing up his toys when he could not get his own way. This has been the Conservative’s act of foolishness thus they have opted for political suicide.
Tories are desperate to rid themselves of the continuing embarrassment of Brexit so they seem to be placing their faith in the dodgy building firm of Hunt & Bodge it. They seem to want a quick fix to Brexit (a Rush Job) in order to rid themselves of the continued embarrassment of seemingly not being able to successfully get the job done. In order to hide their incompetence they have given the work to Hunt & Bodge it a dodgy local firm with a poor reputation which rumour has it will soon be going into liquidation anyway. But wasting public money by giving contracts to dodgy businesses has never really worried the Tories anyway.
Both Hunt and Bodge it claim that they can get the job done on time by the deadline but neither can guarantee the quality of their workmanship or that people will not suffer as a result of their labour’s. Health and Safety are not really matters of concern for Hunt & Bodge it!
The Conservative Party Conference has left them looking embarrassingly weak. Seeming to lack any imagination, unity and credibility they are struggling to convince both themselves and the public they represent a credible government working for the benefit of Great Britain. The obvious truth of the matter is that they don’t. They claim to be championing the working people: they don’t. This is old rhetoric that we heard when the Prime Minister, Theresa May, took over from David Cameron after he ran away unceremoniously embarrassed by his huge political gamble that had exploded in his face.
So we have heard it all before and the recent General Election 2017 showed that the public will not swallow it either. So the Conservative Party Conference sees them trying to win the same argument in which they have already been embarrassingly defeated. What this Conference has shown is that the Conservatives are unimaginative with no real vision for the future of Great Britain. They are unwilling to tackle head on the main issues which effect the British Public namely: huge profiteering of the utility providers, high rail fares, welfare, the NHS, and where the British Economy will be post Brexit. These are the issues to which the British Public want real change and real answers and these are the areas where there is high public dissatisfaction. Instead the Conservatives remain totally uninspiring, seemingly attempting to convince us they they represent the interests of working people and the working classes whilst doing very little to deserve this high accolade that they have foisted upon themselves. Well the public will not be deceived and duped so easily especially by a political party that cannot even manage their own conference properly. No the Conservative Party Conference 2017 has shown us that they are not united – they are divided and that Theresa May is not strong enough to cope with the dissidence within her own Party and in particular she is unwilling and unable to discipline it’s loose cannon:Boris Johnson. But what this week has shown most of all is that they are totally terrified of Jeremy Corbyn and of Socialism in particular. Reference the speech of the Chancellor of Exchequer- Phillip Hammond on 03/10/17. This speech shows how much the Tories are fearfulness of socialism and fairness for Great Britain. They have little answer to it other than to pretend that they themselves represent fairness and prosperity but in truth they do not. So fearful are the Conservatives and this is indicated by the amount of time and reference he gave to attacking Jeremy Corbyn and his policies on a very personal level. By default this showed a great fear for what Mr Corbyn represents to his followers and in the long run it only served to give Mr Corbyn even more kudos.
Continue reading Conservative’s Party Conference shows that they lack: credibility, imagination and unity and that they are terrified of Corbyn
Theresa May has again shown her incompetence to be the Prime Minister in a decision that she took as far back as when she took office. Namely the appointment of Boris Johnson to her cabinet. Seemingly at the time this was a move that resurrected the doomed Mr Johnson. My previous article (18th July 2016) made at the time covered some of the assumed motivations behind this surprising decision to re-appoint Boris the Annoying Fly back into political office. It now appears that I may have been wrong and the more ridiculous explanation would be that she – actually believed that he could do the job of Foreign Secretary – a job role that requires both sensitivity and diplomacy. Of course, well why not because these are exactly the qualities that one would most likely associate with Boris Johnson – aren’t they?
However it now seems that Theresa May completely under-estimated the annoying insect’s abilities to show the levels of dis-loyalty that he has shown of late. Mr Johnson has now paid her back with his new dis-loyalties which have been timed to undermine Theresa May at a crucial time in what seems like the start of a new leadership challenge and an embarrassingly blatant attempt at self promotion.
Continue reading Boris Johnson – the Fly that wants his own dung heap
It is quite obvious that Theresa May and the Tories are planning to scrap their 2015 election pledges not to raise taxation. Constrained now by awkward and awful Brexit Negotations by the arrogant Theresa May, a hard and austere Brexit is looming for Britain. To cover up these mistakes the people of Britain will have to pay for the Tories bungling through higher taxation and higher inflation. This is the real reason for Theresa May hurrying through another General Election in 2017.
Jeremy Corbyn needs to seize upon this weakness and exploit it for all it’s worth and get the Tories to admit that taxation will rise if they take office again in 2017.