news & politics:discussion

[steviewevie]

Inflation at 11.1%. Woohoo!

[steviewevie]

even excluding energy and food inflation is rising, hence the interest rate rises...

[Guest]

Inflation is higher than was predicted, not good at all. 

[Neil]

Trump is using the same slogan, which is an admission that he failed to make it great last time 

[steviewevie]

we're fucked you know. 6th or 7th richest country in the world or something...and you can't see a doctor or get an ambulance or get treatment in a hospital, and whole load of people have to rely on charity so they can eat. Disgraceful really.

[steviewevie]

Young vibrant britain and old tired US.

 

[cellar]

1 hour ago, steviewevie said:

Inflation at 11.1%. Woohoo!

Good backdrop for whatever is announced tomorrow, an easy response for them for anything that might sting.

Dropping the Higher Rate threshold would be very welcome (and any changes to CGT if they materialise).

I'm more excited for the OBR report than younger me would ever have thought possible

[steviewevie]

1 minute ago, cellar said:

Good backdrop for whatever is announced tomorrow, an easy response for them for anything that might sting.

Dropping the Higher Rate threshold would be very welcome (and any changes to CGT if they materialise).

I'm more excited for the OBR report than younger me would ever have thought possible

When does OBR report get released?

[steviewevie]

 

[Guest]

It’s an appalling backdrop for the budget tomorrow. Inflation up at 11%, interest rates up and the government comes along to increase taxes/cut public spending. I doubt the average person will be sitting there thinking these things are fair enough when they barely have enough money as it is.

As Stevie points out, the health service is on its knees and property is high yet the Tories want to inflict more misery. 

[cellar]

19 minutes ago, steviewevie said:

When does OBR report get released?

Tomorrow, early morning usually.

Should clarify, when I said "good backdrop," I didn't mean its a desirable one, just that it serves as a justification for whatever measures are implemented.

[Guest]

Real terms wages have slipped by 2.7%, unemployment in Q3 is up, inflation at highest levels in decades and interest rates at highest level in a decade. That is an awful backdrop for tax rises which will mean people have even less money in their pockets and austerity 2.0 for public services that are on their knees as it is.

[steviewevie]

20 minutes ago, cellar said:

Tomorrow, early morning usually.

Should clarify, when I said "good backdrop," I didn't mean its a desirable one, just that it serves as a justification for whatever measures are implemented.

yes, they can blame external stuff, and if inflation comes down next year as expected they can say the cuts were justified etc...but at same time we seem to be doing worse than other G7 countries so Labour can hit them with that.

[Guest]

Austerity is never justified. It’s a political choice to shrink the state. 

[lost]

We monetised more debt than other G7 countries. How long does the BOE get to keep saying the markets are wrong on inflation, its not that bad and rates don't have to go that high?

Edited November 16, 2022 by lost

[cellar]

2 minutes ago, steviewevie said:

yes, they can blame external stuff, and if inflation comes down next year as expected they can say the cuts were justified etc...but at same time we seem to be doing worse than other G7 countries so Labour can hit them with that.

Absolutely... I mean, a lot of economists are saying inflation is peaking, so for them to claim in future it falls because of their measures would be stretching the truth a little. Not that that ever stopped them!

If they use the backdrop as a justification for reducing HR tax band, or implementing CGT changes, then I'm happy for them to do so.

[Guest]

I don’t think working people should be paying for the mistakes of the Tory government. They should ensure corporations pay their share of tax, tax wealth and end non-dom status.

There is no justification for making working people pay for their mess. 

[cellar]

Implementing changes to CGT and reducing the threshold for HR tax is taxing wealth.

[Guest]

Yes, but todays news isn’t justification for them to raise taxes even further and bring about another round of austerity. 

[cellar]

Are you saying you don't want them to increase CGT tax or reduce the HR threshold? 

[Guest]

I’m saying that higher than expected inflation of 11% isn’t justification for raising taxes again on working people and for austerity 2.0.

Are you saying you want people that are already struggling to have even less money?

[Neil]

1 hour ago, Ozanne said:

It’s an appalling backdrop for the budget tomorrow. Inflation up at 11%, interest rates up and the government comes along to increase taxes/cut public spending. I doubt the average person will be sitting there thinking these things are fair enough when they barely have enough money as it is.

As Stevie points out, the health service is on its knees and property is high yet the Tories want to inflict more misery. 

I saw yesterday that Govt has cut grants to councils by half since 2010. 

[Guest]

13 minutes ago, Neil said:

I saw yesterday that Govt has cut grants to councils by half since 2010. 

Really? That’s appalling. I remember seeing a few years ago that Cameron came out and said that austerity was always about shrinking the state so in that sense he succeeded. 

[Punksnotdead]

PMQ'S with Raab today - hopefully he gets torn apart. Unfortunately I can't watch due to work.

[Guest]