The downfall of the Tory party.

[Brew_DD2]

You say glib i say factually accurate

The two aren't mutually exclusive.

 

[Chippy_Tea]

Time to get back on topic -

Liz Truss has said she is still in favour of lowering tax for the highest earners although it is not something she is currently contemplating.

It comes after the PM was forced to U-turn on her plan to scrap the 45p tax rate for those paid over £150,000.
Speaking to the BBC's Chris Mason, Ms Truss said her priority was making sure people could "get through the winter".
She also denied her first weeks in office had been a disaster, saying she had "acted decisively" on energy bills.
Ms Truss also pointed to her decisions to reverse a rise in National Insurance and scrap a planned increase to corporation tax.

Overall her tax cuts are estimated to cost £43bn, and the government is under pressure to show how it will pay for the changes.
There have been suggestions that the government would increase benefits in line with earnings, which are rising by around 5%, rather than inflation which is at around 10%.
One of her cabinet ministers Penny Mordaunt has argued it "makes sense" to increase benefits in line with inflation because it would ensure people could pay their bills - however, Ms Truss said she had "not yet taken a decision".
The prime minister had also hoped to lower taxes for the highest earners in England, Wales and Northern Ireland, but a backlash from her own MPs forced her and her chancellor into a U-turn.
Despite having to ditch the policy, Ms Truss told the BBC she still believes in the principle, saying: "I would like to see the higher rate lower, I want us to be a competitive country."
Explaining her U-turn, she said she had "listened to feedback".
"Fundamentally if people are concerned about something that was a distraction from the major policies - like the energy price guarantee, like keeping taxes low, like getting the economy moving - I felt it was wrong to allow that distraction to continue."
Asked if she might in the future try again to scrap the 45p tax rate, Ms Truss said: "I'm not contemplating that now."
Speaking to the Telegraph, Home Secretary Suella Braverman said she was "very disappointed" in those Conservative MPs who had publicly voiced concern about the abolition of the 45p tax rate, accusing them of having "staged a coup, effectively, against the prime minister".
She argued that ex-minister Michael Gove - who called the plan "un Conservative" - should have raised his concerns with Ms Truss "in private".
Tweeting his support for the home secretary, Levelling Up Secretary Simon Clarke said: "Suella speaks a lot of good sense, as usual."

The interview comes the day before the prime minister is due to make her big speech to the Conservative Party conference in Birmingham.
Asked if she was concerned about opinion polls which have shown a slump in popularity for the Conservatives, Ms Truss said: "What I care about is doing the right thing by the British people."
She said she was "taking the right short-term decisions to help struggling families get through this winter, but also the right long-term decisions to put Britain on track to success to make sure that we've got that low-tax high-wage economy".
"I never pretended this would be easy," she said, adding that the country was facing "very difficult global headwinds" citing the war in Ukraine.

I'm still in favour of lower tax for high earners, says Liz Truss​

 

[Rodcx500z]

I wonder who she would blame if Ukraine was off the radar, maybe hurricane Ian, the trouble with all this us plebs are constantly guessing we don't really know whats going on

 

[Chippy_Tea]

Taxing conference for Liz Truss​

Iain Watson
Political correspondent
It’s been a taxing conference so far for Liz Truss, and that’s before she gives her big speech tomorrow.
She had promised during the contest to succeed Boris Johnson to deliver bold leadership. Yet today it seemed some members of her own party were willing to test that assertion almost to destruction.
Prominent MPs - such as the former Work and Pensions Secretary Iain Duncan Smith, a supporter of the Liz Truss leadership campaign - are openly trying to persuade her not to cut benefits in real terms.
And if proof were needed that winning a leadership campaign does not in itself bring unity, Penny Mordaunt - Liz Truss’s former rival for the top job who now sits around her Cabinet table - has also called for welfare payments to "keep pace" with inflation.
Home Secretary Suella Braverman was probably trying to be helpful to her friend, the prime minister. But she ended up fuelling the political fire around her.
She accused disloyal former Cabinet members of trying to stage a "coup" - and of undermining Liz Truss’s authority.
A press pack hungry for news after a relatively placid Labour conference are now feasting on divisions.

 

[Chippy_Tea]

I wonder who she would blame if Ukraine was off the radar, maybe hurricane Ian, the trouble with all this us plebs are constantly guessing we don't really know whats going on

Its not just us i don't think many in her party know what is going on

 

[johncrobinson]

Many of the "Red wall" MP's must be bricking it.!!!

Sure they will leave parliament with a "Gold plated pension" for a FEW years of so called hard work.In fact doing little other than towing the "party" line.

Nice work if you can get it.!!

 

[Rodcx500z]

Is anybody keeping an on eye credit suisse one of the worlds biggest banks, they are on the verge of being up s--t creek without a paddle, the melting pot is being stirred

 

[johncrobinson]

BTW an Atomic bomb is also great at "leveling up"

 

[lancon]

The UK is crashing before your eyes. Looks like the protocol bill will not pass the house of lord's. They are making sounds that a deal can be made with the EU. DUP are getting kicked under the bus again.

Please explain how DUP are being kicked under the bus again

 

[lancon]

It's not a throwaway comment at all. There are two sides to a coin. Unfortunately, the affordability calculator that has been in use since the sub-prime lending crash, is not fit for purpose, and subsequently there are millions of people in this country that are going to be unable to meet this sharp rise in rates.

As has been pointed out by Samale, extending the mortgage length isn't going to be feasible for some people. In my case, yes, we will be able to absorb the extra interest payments. I could accept all of this additional cost if it was due to something unavoidable, such as the roof collapsing, or it was going to benefit wider society, but we'll essentially be footing a bill in the thousands (in many cases 10 of thousands) due to irresponsible and ill-considered fiscal policy, aimed at making the rich that bit richer.

I don't think that pointing out that these avoidable rises are unlikely to reverse anywhere near as quickly, is a throwaway comment.

Didnt the BOE announce the removal of the affordability calculator recently?

 

[lancon]

Many of the "Red wall" MP's must be bricking it.!!!

Sure they will leave parliament with a "Gold plated pension" for a FEW years of so called hard work.In fact doing little other than towing the "party" line.

Nice work if you can get it.!!

They get paid pension per year served

 

[foxy]

Many of the "Red wall" MP's must be bricking it.!!!

Sure they will leave parliament with a "Gold plated pension" for a FEW years of so called hard work.In fact doing little other than towing the "party" line.

Nice work if you can get it.!!

Blair did handsomely, the Tory prime minister the Tories never had. Now worth 50,000,000. GBP Thanks to the T-ssers who voted for him.

 

[Brew_DD2]

Didnt the BOE announce the removal of the affordability calculator recently?

I certainly hope so. Completely unfit for purpose.

 

[samale]

Please explain how DUP are being kicked under the bus again

Not sure if you follow politics, the DUP have refused to go into power sharing. They backed Brexit, voted May deal down to keep everyone in the single market. Back Boris got shafted with the border in the Irish sea. Now Truss looks to be coming to an agreement with the protocol
Now they are looking to walk away from the good Friday agreement.

 

[dad_of_jon]

I believe I have secured retirement. Although It is always possible for the government to screw it up with a rule change. Whilst I paid off my mortgage just after my 50th birthday my kids are in different circumstances.

One has a mortgage and the other is yet to get on the property ladder. If there are a huge amount of defaulters then house prices should lower although with higher interest rates the difference in paying for the house wouldn't be much different - cheaper house dearer re-payments. The only positive would be that their deposit would be a better %age LTV. So I can't really wish for any particular scenario. I did advise my eldest to not mortgage right up to the max as rates were so historically low (I advised being able to pay mortgage at 5%) they were only going to go one way so they have more 'headroom' than most.

The fly in the ointment is the energy market/uk policy

A war and poor decision making in government have created a perfect storm.

 

[Covrich]

what is better? buying your house for 200k mortgage at 5.5% or 300k at 1.8%? probably going to end up paying the same so interest rates could match a fall in house prices. But the problem is the majority of the population who have bought there house or are paying at a higher value are going to be destitute when they have to remortgage at 5.5% because their mortgage is still 285k

 

[Covrich]

 

[lancon]

Not sure if you follow politics, the DUP have refused to go into power sharing. They backed Brexit, voted May deal down to keep everyone in the single market. Back Boris got shafted with the border in the Irish sea. Now Truss looks to be coming to an agreement with the protocol
Now they are looking to walk away from the good Friday agreement.

They backed Brexit and some ( were given a large amount of money, unknown donor, that they partly used to put an advert in the London Metro??)
They voted May deal down and then voted Boris deal down.
What did they want when they voted for Brexit, they were warned that there would be a problem regarding the border.
Considering that there is a growing possibility of a referendum in Northern Ireland it is perhaps it should be that they threw themselves under a bus if anything?

 

[samale]

They backed Brexit and some ( were given a large amount of money, unknown donor, that they partly used to put an advert in the London Metro??)
They voted May deal down and then voted Boris deal down.
What did they want when they voted for Brexit, they were warned that there would be a problem regarding the border.
Considering that there is a growing possibility of a referendum in Northern Ireland it is perhaps it should be that they threw themselves under a bus if anything?

Yep in a nut shell. I would love to know what the plan was.

 

[johncrobinson]

Yes Foxy Blair was indeed another one, Despite being PM with a northern constituency. he did nowt,Nowt at all for the good folk of the NE who had paid the full price for the heartless policy's that had gone before.
Then of course we come to Iraq.Nuff said.