Hunt promises tax increases

[srb7677]

I doubt the public hated the tax cuts but the reaction of the market Borky

They certainly hated the massive tax cut for high earners at a time when the rest of us are struggling, and they certainly hated insult being added to injury when the millionaire ministers responsible tried telling them this was fair. Hence the first thing to be reversed. 

If they truly want to boost growth and at the same time boost the take home pay of the struggling millions they'd have been far better advised raising tax thresholds.

In any case, Hunt's attempts to reassure the markets at least seem to be working. The pound is now rising against the dollar. But we are all in for another bout of austerity which no one voted for in 2019. When that starts to bite it could well rebound against them politically. Even if the public can be persuaded that departmental cuts are necessary, they will likely blame the Truss/Kwarteng screw up for making them necessary.

[B0ycey]

Biden should worry about his own balance sheet and not worry about ours . Same could be said for the Greeks but then again they just do as they are told by Brussels

The US have the luxury of their currency being the reserve currency of choice, pegged to other currencies, used by tinpot states, commodity exchange and the petrodollar. In fact if it weren't for that, the amount of debt they have, they would have been in our situation a decade ago. So no, they don't have to worry about that. Or not until the oil drys up in any case. That ticking timebomb has a few more years yet.

[Streetwalker]

 I noticed Biden weighed in and put his boot up Truss's ass. And I read the Greek PM made a joke at our expense. Seems the UK right now is a basket case and everyone else's amusement.

Biden should worry about his own balance sheet and not worry about ours . Same could be said for the Greeks but then again they just do as they are told by Brussels 

[B0ycey]

Hunt is not trying to please the market he is doing as he is told by it  as the were quite clearly the ones who appointed him

This doesn't make sense. If Hunt is doing what he is told by the market, isn't that pleasing them? Although it should be said the hedgefunders called Kwarteng their useful idiot.

Hunt is merely doing what Sunak said in the Hustings. Growth before tax cuts. Whether you believe Deep State has its elves in the background telling Hunt what to do or not doesn't change the fact that reversal is what is needed to be done. I noticed Biden weighed in and put his boot up Truss's ass. And I read the Greek PM made a joke at our expense. Seems the UK right now is a basket case and everyone else's amusement.

[Streetwalker]

Isn't it the market not the public he is trying to please Borky? I believe there was another 30bn to find. Seems when users like me were saying that covid payments would hit us in the future, the future is here now. That is why Sunak rose the rates to begin with. He understood fiscal responsibility.

Hunt is not trying to please the market he is doing as he is told by it  as the were quite clearly the ones who appointed him 

[B0ycey]

Jeremy Hunt warns more public spending cuts needed - which could include the NHS (msn.com)
Back to austerity then Boycey, just where we said we would be.

Indeed Sheepy. If only the Tories listened to us before electing someone who is utterly incompetent.

[Sheepy]

I doubt the public hated the tax cuts but the reaction of the market Borky. I suspect mortgage repayments going up was the nail in the coffin for the Dizzy Lizzy.

As for taxes going up, again I doubt the public will like that. But a saving grace for the Tories is now they will understand why they are going up maybe. They will most likely still blame the Tories for it though.

Jeremy Hunt warns more public spending cuts needed - which could include the NHS (msn.com)
Back to austerity then Boycey, just where we said we would be.

[B0ycey]

I don't know boysie. But when Liz Truss announced her tax cuts the Tory vote fell like a stone, so I can only assume that the electorate like to give its money to the government and will reward the PM appropriately

I doubt the public hated the tax cuts but the reaction of the market Borky. I suspect mortgage repayments going up was the nail in the coffin for the Dizzy Lizzy.

As for taxes going up, again I doubt the public will like that. But a saving grace for the Tories is now they will understand why they are going up maybe. They will most likely still blame the Tories for it though.

[Borchester]

Isn't it the market not the public he is trying to please Borky? I believe there was another 30bn to find. Seems when users like me were saying that covid payments would hit us in the future, the future is here now. That is why Sunak rose the rates to begin with. He understood fiscal responsibility.

I don't know boysie. But when Liz Truss announced her tax cuts the Tory vote fell like a stone, so I can only assume that the electorate like to give its money to the government and will reward the PM appropriately

[B0ycey]

As far as I can see, Liz Truss has been roundly condemned for cutting taxes, but her new Chancellor Jeremy Hunt has just told the BBC that some taxes will rise. Since that is what the public clearly want, I imagine that her popularity will soar



https://www.bbc.co.uk/news/live/uk-politics-63265464

Isn't it the market not the public he is trying to please Borky? I believe there was another 30bn to find. Seems when users like me were saying that covid payments would hit us in the future, the future is here now. That is why Sunak rose the rates to begin with. He understood fiscal responsibility.

[Borchester]

As far as I can see, Liz Truss has been roundly condemned for cutting taxes, but her new Chancellor Jeremy Hunt has just told the BBC that some taxes will rise. Since that is what the public clearly want, I imagine that her popularity will soar



https://www.bbc.co.uk/news/live/uk-politics-63265464