UK Prime Minister Liz Truss

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#2983372 16-Oct-2022 15:12

gzt: Truss and Kwarteng have long associations with borderline insane 'think' tanks ... USA did this kind of thing for years with predictable results.

neb

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#2983375 16-Oct-2022 15:26

When 95% of all media coverage you're getting is speculation over whether the collapse will happen today, tomorrow, or the day after, you know you're in serious trouble.

neb

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#2983376 16-Oct-2022 15:33

gzt: Truss and Kwarteng have long associations with borderline insane 'think' tanks

You wonder which part of "the rich get richer and the poor stay poor" the financial geniuses who dreamed up trickle-down economics don't understand? That's a centuries-old saying based on actual real-world experience, and is only averted through either drastic means like war or revolution or by government intervention starting in the late 19th and carrying through the 20th centuries. Taking from the poor (in the form of cuts to social services and not addressing price-of-living issues) and giving more to the already-rich is pretty much being the anti-robin-hood. Short of a pathologically stupid move - well, OK, before they did it this would have counted as a pathologically stupid move that you use to make other moves look sensible in comparison - I can't think of a worse policy to follow in the current environment.

ezbee

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#2983395 16-Oct-2022 17:41

From the original Liz Truss lolly scramble for the top earners.
Of course that cuts Government income at a time its most needed ?

New Finance Minister delivers a dose of reality.

U.K.'s new finance chief warns of 'difficult decisions ahead' amid political and market turmoil
“The financial crisis the U.K. currently finds itself in was unfortunately avoidable,” one expert told NBC News.
https://www.nbcnews.com/news/world/uk-finance-chief-jeremy-hunt-liz-truss-market-turmoil-kwasi-kwarteng-rcna52404

""
Jeremy Hunt told a range of British news broadcasters that tax cuts promised by embattled Prime Minister Liz Truss would not be as big as first thought, and government departments would have to cut their budgets.

Warning of “difficult decisions ahead” Hunt told British broadcaster Sky News: “Some taxes will not be cut as quickly as people would want, some taxes will go up.”
""

It looks like our elections will be a tax cut fight.
Reality never won an election?

Who is next after Liz though for the UK?

kingdragonfly

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#2985349 20-Oct-2022 15:23

The sterling pound is doing weak against the US dollar.

floydbloke

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#2985384 20-Oct-2022 16:20

kingdragonfly: The sterling pound is doing weak against the US dollar.

But still not as bad as the Kiwi against the greenback for the same period.

In some fairness, the USD is considered a safe haven when world finances turn to sh*t so it's not entirely unexpected, but I get your point.

Sometimes I use big words I don't always fully understand in an effort to make myself sound more photosynthesis.

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#2985456 20-Oct-2022 17:58

There have been a lot of negative comments in the UK about the fact that Truss was elected to the post by only around 80,000 Tory members (who are overwhelmingly middle aged or worse, middle class and white) out of a population of 65 million.

But I can't see what sort of system would be an improvement. If replacing the PM triggered a general election no party behind in the polls would replace him/her so that's a non starter.

And they have to be able to work with members of their own party so the MP's must have a significant say.

AFAIK Labour in the UK include unions in the election process but I doubt many every day union members have much of a say in who the union backs.

gzt

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#2985472 20-Oct-2022 18:31

Imo it's not so much the selection system bothering anyone. It's that the Conservative Party made a very stupid choice in the extreme orientation of Johnson's replacement. Going back to that time, Hunt's leadership pitch was actually more extreme than Truss's. Anyone expecting a real difference with Hunt as finance minister should think again. You can add Hunt as prime minister as a distinct possibility now.

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#2985523 20-Oct-2022 22:15

Listening to the BBC the process came in for a lot of criticism. Nobody offered an alternative though.

neb

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#2985635 21-Oct-2022 02:23

She's finally bowed to the inevitable and resigned. I think the next thread needs to be 'This week's UK PM' to avoid future thread explosion problems.

At this point they either need to call a general election or reformat and reinstall the Tories in order to continue.

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#2985693 21-Oct-2022 07:15

Johnson has apparently called in from somewhere in the Caribbean islands an intends to run "in the national interest". This has to be the point where many in the Conservative Party wish they had voted Sunak in the first place to avoid the Truss impact and now Johnson back to the party.

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quickymart

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#2985697 21-Oct-2022 07:31

What's with the fast turnover of British Prime Ministers? Can someone please do me a TL:DR summary?

SJB

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#2985701 21-Oct-2022 08:00

Johnson is a non-starter. He's still being investigated by the ethics committee so most Tory MP's won't risk him being chosen and then found guilty so he has to resign again.

The problem from a democracy point of view of calling an election now is that there would be no need for Labour to put forward any policies for public scrutiny. They could simply stand there, not say anything at all, and still win by a landslide.

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#2985743 21-Oct-2022 09:24

The next general election is not due until 2025. If the Tories can install someone to steady the ship the election cycle should run full term so that a more balanced decision can be made by the electors rather than voting in the frenzied atmosphere that seems to be prevailing at the moment.

Labour would walk into power if an election was held now with a massive majority which they would use as a mandate to do whatever they pleased. Although Corbyn is not around anymore the hard left Millenium group are still a huge influence in the party so you would likely see policies such as nationalising the railways and utilities.

Their policies would be as extreme left as Truss's were extreme right. Another disaster for Britain.

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#2985756 21-Oct-2022 10:02

I find it absolutely laugahble that after 44 days she can draw down on an "allowance" every year for the rest of her life. $227,000+/- NZD a year!

"Liz Truss will be able to claim up to £115,000 from the taxpayer per annum despite having the shortest tenure of any British prime minister in history.

The outgoing Conservative leader can claim the money from the Public Duty Costs Allowance (PDCA), which was introduced to assist former prime ministers still active in public life. According to government guidance, payments are made only “to meet the actual cost of continuing to fulfil public duties.”

The allowance was arranged in the wake of the resignation of Margaret Thatcher in 1990, and announced by her predecessor, John Major, in March the following year."

https://www.independent.co.uk/news/uk/politics/liz-truss-taxpayer-claim-b2207029.html

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