- 21 Oct 2022 21:08
#15251787
The fiscal plan was a couple of small tax cuts, the lower rate of 20% to become 19%, corporation tax not to increase by 6% in April '23 from 19% to 25%, & the higher rate of 45% to be reduced to 40%. Stamp duty cut and the vast majority of it was the energy subsidy package.
With the exception of the top tax rate which was the smallest part at 2 billion, all these are consensus measures in the UK, that is everybody agrees with them, all 3 parties, all newspapers.
These are still small change compared to the extra tax revenues that have come in because of inflation and the freezing of the tax-free thresholds. These are effectively lesser measures in lieu of unfreezing the thresholds.
The energy package was & still is going to be part-financed but even that less than it would be required due to the price stabilising.
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About Boris:
wat0n wrote:In Liz Truss' case, her plan was a disaster. Even libertarians and neoliberals didn't like it despite allegedly being for economic freedom and all that stuff.
The fiscal plan was a couple of small tax cuts, the lower rate of 20% to become 19%, corporation tax not to increase by 6% in April '23 from 19% to 25%, & the higher rate of 45% to be reduced to 40%. Stamp duty cut and the vast majority of it was the energy subsidy package.
With the exception of the top tax rate which was the smallest part at 2 billion, all these are consensus measures in the UK, that is everybody agrees with them, all 3 parties, all newspapers.
These are still small change compared to the extra tax revenues that have come in because of inflation and the freezing of the tax-free thresholds. These are effectively lesser measures in lieu of unfreezing the thresholds.
The energy package was & still is going to be part-financed but even that less than it would be required due to the price stabilising.
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About Boris:
Marina Hyde-The Guardian wrote:At the time of typing, many think that surely Johnson won’t get the numbers to run. Then again we passed “surely” three WTFs ago.
Tim Stanley-Telegraph wrote:As the grey men take Truss away, Boris bids to get the good times back
A Johnson comeback may once have seemed outlandish, but memories are short in politics
And they’re off! Though some of them have further to go than others.
When Liz Truss finally did the decent thing, Boris Johnson was on his hols in the Dominican Republic. Imagine the scene: Big Dog has fallen asleep on the beach, knocked out by James Herbert and a powerful mojito, unaware that he has been buried in the sand by local children. An aide runs along the shore screaming that Liz Truss has resigned.
“Who?”
“The prime minister. Of Great Britain? Jacob says she blew all the money on the gee-gees, or something like that, and the people want you back!”
“By Zeus! All these years I thought I was Churchill, turns out I’m ruddy Napoleon. Don’t just stand there, Tarquin. Dig me out!”
The response among MPs to talk of a Boris restoration ranged from “He Is Risen!” to “I’d rather set myself on fire than serve under that man,” which you can chalk up as a “maybe”. Memories are short in politics.
Jonathan Gullis, whose eternal loyalty is a good bellwether of passing fashion, resigned from the BoJo administration citing concern about partygate. Now he says “Bring back Boris!” And no doubt the big man was scanning the internet for last-minute flights.
Moving silently, like a shark, is contender #2: Rishi Sunak. He has said barely anything since he lost to Liz. He was seen earlier walking about in a business suit, which is as on-brand as Harry Styles being photographed in a dress – and one suspects he’s been sitting quietly by the phone since September 6, waiting for Liz to cock-up and the party to come calling (“Any day now.”) His allies put out a curious offer: if Boris endorses Rishi, he can be his home secretary. This implies that everyone knows Grant Shapps is going to serve even less time in post than Kwasi Kwarteng.
What about Penny Mordaunt, bringing up the rear? She was the first candidate to declare – and she surprised everyone last time by how far she went. The Tory grassroots appear besotted with this lady, thanks to her naval career and taste for innuendo; she exudes an impression of authority that was bolstered during the accession of Charles III when she managed to read aloud from an official document clearly and without error. That’s all it takes nowadays. If only she were in Parliament, Angela Rippon would be a shoe-in.
Ms Mordaunt has reportedly told Jeremy Hunt that if she wins, he can write economic policy. And Mr Hunt, no doubt, rang the Bank of England and said, “If Penny wins, you can write economic policy.” The Bank rang the IMF… and on it went all the way to Joe Biden, who put a call through to his wife, even though she was lying next to him, and said, “Honey, if Penny Farthing is made Queen of England, you can write economic policy.”
What do the members think? I’ve put out feelers. They want Boris.
They know he’s not Jesus. He might have spent 40 days in the desert, but if the Devil tried to tempt him, he’d give in on every occasion. Yet they voted for Truss, the suits kicked her out – so now they want the good times back with BoJo. He likes pina coladas and dancing in the rain. And if they want him, and assuming he can find his passport - last seen in a swimming pool locker - he’ll be right with us.
EN EL ED EM ON
...take your common sense with you, and leave your prejudices behind...
...take your common sense with you, and leave your prejudices behind...