If I'm reading the analysts right (big "IF"), it means that the interest rate on your mortgage may have doubled in time for Christmas
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A Political Thread pt. 2
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And if you’re renting from a buy to let landlord their mortgage rate will increase and pass onto tenants. Only savers benefit if banks pass on the interest rate rise, but not by much.
Apparently interest rates going back up to 5+ % by Spring if BOE is determined to get inflation back to 2%. It’s just under 10% atm.
Makes a mockery of not releasing the ONS’s summary of how Kwarteng hopes to find these tax cuts.
FYI the removal of the additional rate and NI reverting back also means:
1. No additional rates on dividends. Was 38.1% and was due to increase to 39.35%. Now back to 32.5%. this goes for basic rate back to 7.5%
2. Additional rate payers also getting a £500 savings allowance. 40% thereafter.
3. Employer’s NI back to 13.8% as well as employees NI.
All NHS funding from the 1.25% social levy now to be funded from existing taxation. Wasn’t the point of it because long term it was meant to fund long term investment in NHS and also care because we are living longer.
So funding the above price energy cap for homes and businesses, the massive debt built up from Covid pandemic, and waste from the PPE, loans not repaid etc. from what we paid before?
And Tories accuse Labour of the living in a dreamland and asking where this magic money tree is? Now the shoe is on the other foot.
Apparently interest rates going back up to 5+ % by Spring if BOE is determined to get inflation back to 2%. It’s just under 10% atm.
Makes a mockery of not releasing the ONS’s summary of how Kwarteng hopes to find these tax cuts.
FYI the removal of the additional rate and NI reverting back also means:
1. No additional rates on dividends. Was 38.1% and was due to increase to 39.35%. Now back to 32.5%. this goes for basic rate back to 7.5%
2. Additional rate payers also getting a £500 savings allowance. 40% thereafter.
3. Employer’s NI back to 13.8% as well as employees NI.
All NHS funding from the 1.25% social levy now to be funded from existing taxation. Wasn’t the point of it because long term it was meant to fund long term investment in NHS and also care because we are living longer.
So funding the above price energy cap for homes and businesses, the massive debt built up from Covid pandemic, and waste from the PPE, loans not repaid etc. from what we paid before?
And Tories accuse Labour of the living in a dreamland and asking where this magic money tree is? Now the shoe is on the other foot.
Apparently this is exactly what Sunak said would happen if Truss went ahead with her plans in the Hustings
No love for the guy but he at least understands money
No love for the guy but he at least understands money
Bad news about the Tories?
Break out the emergency Corbyn story:
Break out the emergency Corbyn story:
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That's hilarious
I want a copy!
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Yeah it was obvious from the TV debates - Sunak ran rings round Truss when debating the economy but I guess he didn't tick the right boxes with the old white Tory members.
I'm also seeing more commentators suggesting that a house price crash is inevitable given the pace at which interest rates are increasing. The stamp duty break announced last week won't even touch the sides apparently.
The only thing I take heart in this is he'd not even a member of the PLP currently and they clearly can't find **** on Starmer that will actually resonate. So far he bought a donkey sanctuary for his Mum and had a perfectly legal beer.
I expect a lot better of the Indy though.
This is clutching at straws though more than beergate don't think anyone will give a ****.
Labour just announced they'd renationalise the railways. Guess they're looking at the current situation and no longer feeling scared mentioning anything too left wing. Great!
Its kinda what I expected to happen, maybe a little earlier but we'll see more lefty policies as time draws on I suspect. Especially if the Tories keep ******** the bed.
Its kinda what I expected to happen, maybe a little earlier but we'll see more lefty policies as time draws on I suspect. Especially if the Tories keep ******** the bed.
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I can’t help but think they’re getting ahead of themselves here, though. I believe they’re deluded that they think they can win an outright majority but it seems they do. Don’t be fooled by the polls, I still think tje Tories will win to be honest, sure their majority will decrease and we’ll probably end up with a hung parliament but Labour majority? Nah.
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I still think if Starmer could get Tory majority below 50 at the next GE that would be a success. It would be unprecedented for them to overturn close to 80 seats one in full into a majority.
They’d need all those red wall seats they lost to return, and also Scottish seats, and that’s not gonna happen.
They’d need all those red wall seats they lost to return, and also Scottish seats, and that’s not gonna happen.
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I don't think Labour can get a majority, but if Lib Dems can take more Tory heartlands then they definitely could lose their majority.
You can have arguments about economic policies and who they are supposed to help. But rarely do you such trash ones like this. Truly an incredible achievement by a new administration.
Most polling models are suggesting they will get a majority now. I'm not sure how that work without Scotland (one assumes its taking suburban areas in the south and retaking the red wall now they've been utterly ****** like they were told they would be).
Personally I think we are looking at hung which suits me fine, always will do, might lead to actual electoral reform.
Personally I think we are looking at hung which suits me fine, always will do, might lead to actual electoral reform.
Alexa, show me a man who knows he's absolutely ****** it.
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Pretty relaxed,but very anti-war, at least among my friends and acquaintances. I saw one street "Generation Z concert" ,but there was no people on this concert..only bands and singers on the scene
the concert wasn't popular for some reason 
Didn't John Major try something similar to this when he was PM? Forgot the exact details but the economy very nearly imploded.
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Must be **** scary to publicly protest, knowing that if arrested can be sent papers to fight in the front or family members.Pretty relaxed,but very anti-war, at least among my friends and acquaintances. I saw one street "Generation Z concert" ,but there was no people on this concert..only bands and singers on the scene
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