The banker loving, baby-eating Tory party thread (regenerated)

[Genie]

1 hour ago, ml1dch said:

Phew, was worried there for a minute.

 

He almost said “we’re all in this together”. 

So close!

 

[Genie]

Quote

We've heard this afternoon from the prime minister speaking in Kent - but it's also worth recapping what he said earlier, just after the Bank of England announced its decision to hike interest rates to 5%.

"The reason interest rates are going up is because inflation is too high and we've got to bring it down," Sunak told the Times CEO Summit.

“Now, I always said this would be hard - and clearly it’s got harder over the past few months - but it’s important that we do do that.

“The government is going to remain steadfast in its course and stick to its plan,” he added.

I thought the BoE were independent? How can he say it’s the government’s plan? They are effectively doing nothing (but will take the glory if/when inflation comes down).

bbc

[bickster]

4 minutes ago, Genie said:

I thought the BoE were independent? How can he say it’s the government’s plan? They are effectively doing nothing (but will take the glory if/when inflation comes down).

bbc

I'm not sure he's claiming the BoE decision as Govt policy

[Genie]

1 minute ago, bickster said:

I'm not sure he's claiming the BoE decision as Govt policy

He has made a “pledge” to cut inflation but what is the governments plan to do it? He said he’s sticking to “the plan” but the only action is by the BoE.

Hunt has also ruled out mortgage relief/help so they aren’t even helping the most vulnerable with the cost of mortgages. 

Shambolic lack of action. 

[bickster]

4 minutes ago, Genie said:

He has made a “pledge” to cut inflation but what is the governments plan to do it? He said he’s sticking to “the plan” but the only action is by the BoE.

Hunt has also ruled out mortgage relief/help so they aren’t even helping the most vulnerable with the cost of mortgages. 

Shambolic lack of action. 

I think you're confusing shambolic lack of action and "The Plan" as two separate entities

[ml1dch]

33 minutes ago, bickster said:

I think you're confusing shambolic lack of action and "The Plan" as two separate entities

I think @Genie is broadly correct here. 

Sunak hubristically assumed that inflation would drop and thought he'd try and claim the credit for something that was nothing to do with him. Loads of people on his own side said at the time that he was daft to try and claim credit for it (here a few weeks back from Kate Andrews for example)

Quote

 

There was one problem, however. Tackling the rate of inflation was never the government’s gift to deliver. Inflation tends to be a monetary phenomenon, and the Bank of England has control of the tools that are most effective when prices start to soar (i.e. interest rates). Sunak knows this. He got rave reviews from civil servants (a rarity in the chaotic Johnson era) when he served as chancellor: the most common feedback was that he understood economic laws better than almost anyone else in the Treasury. 

But the opportunity seemed too good to pass up. If the rate is going to plummet anyway, why not take the political credit?

 

There wasn't a plan to fix it, or a lack of action. The plan was nothing more than just "take credit for something that's just going to happen".

But he's now gone and screwed himself because he's going to get the blame for something that isn't his fault, because he cheekily tried to take credit for something that he hadn't done. 

Edited June 22, 2023 by ml1dch

[Genie]

59 minutes ago, ml1dch said:

I think @Genie is broadly correct here. 

Sunak hubristically assumed that inflation would drop and thought he'd try and claim the credit for something that was nothing to do with him. Loads of people on his own side said at the time that he was daft to try and claim credit for it (here a few weeks back from Kate Andrews for example)

There wasn't a plan to fix it, or a lack of action. The plan was nothing more than just "take credit for something that's just going to happen".

But he's now gone and screwed himself because he's going to get the blame for something that isn't his fault, because he cheekily tried to take credit for something that he hadn't done. 

Exactly, Sunak pledged to fix it but never planned anything. Hence I questioned his statement that the government are sticking to the plan, that doesn’t exist.

[bickster]

1 hour ago, ml1dch said:

I think @Genie is broadly correct here

Was meant to be humour, plus I agree with what you’ve said

 

25 minutes ago, Genie said:

Exactly, Sunak pledged to fix it but never planned anything. Hence I questioned his statement that the government are sticking to the plan, that doesn’t exist.

That was my point, it was a joke

[Genie]

At least he said we’re going to be ok though, that’s encouraging.

To expand on that, Sunak says we’re going to be ok. Then a reporter states that some people are already beyond breaking point and so won’t be ok. Then Sunak responded by saying I didn’t say it was going to be easy.

Hilariously out of touch. 

Edited June 22, 2023 by Genie

[chrisp65]

To be fair when he said we’re going to be ok he meant him and his Mrs.

 

[Genie]

1 hour ago, chrisp65 said:

To be fair when he said we’re going to be ok he meant him and his Mrs.

 

The biggest challenge he has is trying not to appear to be flashing the cash he undoubtedly has lots of.

link

Quote

Rishi Sunak’s new private heated swimming pool uses so much energy that the local electricity network had to be upgraded to meet its power demands, the Guardian has been told.

While many Britons are facing increased electricity bills – and are trying to limit their energy usage – extra equipment was recently installed in a remote part of North Yorkshireto provide extra capacity from the National Grid to the prime minister’s constituency home.

 

[PaulC]

So the Boe raise interest rates to cut people spending and thereby reduce inflation but surely that's counter productive as businesses rely on people spending to generate more jobs.  

To me this is a complete mess with the rising interest rates only helping older people who have paid off their mortgages and have savings. 

A friend of mine today said its great for him as it will mean another grand a year in savings interest

[Stevo985]

40 minutes ago, PaulC said:

So the Boe raise interest rates to cut people spending and thereby reduce inflation but surely that's counter productive as businesses rely on people spending to generate more jobs.  

To me this is a complete mess with the rising interest rates only helping older people who have paid off their mortgages and have savings. 

A friend of mine today said its great for him as it will mean another grand a year in savings interest

That’s kind of the point. 

[mjmooney]

51 minutes ago, PaulC said:

To me this is a complete mess with the rising interest rates only helping older people who have paid off their mortgages and have savings. 

A friend of mine today said its great for him as it will mean another grand a year in savings interest

Speaking as a beneficiary of this... well, I'll take it, but I still ain't voting for the words removed. 

[tinker]

1 hour ago, PaulC said:

So the Boe raise interest rates to cut people spending and thereby reduce inflation but surely that's counter productive as businesses rely on people spending to generate more jobs.  

To me this is a complete mess with the rising interest rates only helping older people who have paid off their mortgages and have savings. 

A friend of mine today said its great for him as it will mean another grand a year in savings interest

He's an idiot , his savings won't match the inflation that's depleting his wealth as each month goes by.

Vote for clowns and you get a circus..

[LondonLax]

6 hours ago, mjmooney said:

Speaking as a beneficiary of this... well, I'll take it, but I still ain't voting for the words removed. 

You don’t vote for the Bank of England. 

[tinker]

4 hours ago, LondonLax said:

You don’t vote for the Bank of England. 

No you don't and we never voted for Truss either but she started this shit show with her experimental economics that somehow escaped any scrutiny before it was announced causing economic panic within the markets. 

The media are avoiding blaming the government for a number of complete mess ups, the brexit deal, truss economics, ppe scandal, sewerage in our water ways, HS2....a railway from Birmingham to nowhere,  the list is endless.

I'm pretty sure if we had a decent media this government would have been forced out long ago and this is the most worrying thing about it all, that and the moronic electorate.

[ml1dch]

6 minutes ago, tinker said:

I'm pretty sure if we had a decent media this government would have been forced out long ago and this is the most worrying thing about it all, that and the moronic electorate.

By what mechanism do you "force out" a Government that (originally) won an 80 seat majority before they want to leave?

[The Fun Factory]

Perhaps we will have two different interest rates now and monitor the feedback.

[tinker]

25 minutes ago, ml1dch said:

By what mechanism do you "force out" a Government that (originally) won an 80 seat majority before they want to leave?

If the truth of what this government has done and not done was given  the media attention labour would get under similar circumstances then the public would be marching on the streets for an election.