OT Tax cut madness

[Geoff Parkstone]

KamiKwasi - asset stripping en masse knowing they are gonna be voted out.
There cannot be an economics expert worth their salt who would approve what Kwarteng did on Friday.

That he worked in the banking sector as an adviser prior to politics tells us he's not naive and that it's a deliberate act.

They've mooted more tax cuts on the way. Probably for the top 5% again. More borrowing to fund them?

First Sunak puts a windfall tax in place taking money off the obscene profits of the energy and oil companies. He then gives them tax breaks in the near future which will more than offset what he took in tax. Now we get Windfall round 2 in which Kamikwasi and Thick Lizzy take £150Bn off them but promise that taxpayers will pay them back over the next 15 to 20 years. The companies got those obscene profit levels completely by accident. I'd take the £150Bn and leave it at that. However, I would ensure that, should they be hit by circumstances beyond their control whereby they make a huge loss, there should be some form of compensation for them. PS - with inflation as high as it is will the Toraidh again dump the triple lock on pensions? They probably will but if companies can get to keep extra profits they didn't "earn" but by accident of circumstance, why can't pensioners get the rise indicated by the triple lock?

Is there no end to their skullduggery?

I've struggled to find a single redeeming feature in that budget. It's aimed at creating growth, hence employment, hence improving the tax take and cutting the benefits bill longer term.... and thus increase productivity and exports maybe.

Bit all I see is rising prices falling currency rates and a dark tunnel. The triple lick looks doomed again I suspect.

If I had rA's mindset I'd blame it all on Brexit, and undoubtedly there is an element of blame to be laid at that door, but essentially a problem driven by wider issues as all economies are suffering. But I don't see many countries cutting tax for high earners as a solution

[ramAnag]

I've struggled to find a single redeeming feature in that budget. It's aimed at creating growth, hence employment, hence improving the tax take and cutting the benefits bill longer term.... and thus increase productivity and exports maybe.

Bit all I see is rising prices falling currency rates and a dark tunnel. The triple lick looks doomed again I suspect.

If I had rA's mindset I'd blame it all on Brexit, and undoubtedly there is an element of blame to be laid at that door, but essentially a problem driven by wider issues as all economies are suffering. But I don't see many countries cutting tax for high earners as a solution

Tbf GP...I don’t blame everything on Brexit...I mean it’s not why Derby got relegated...and I don’t want Johnson back at any price, although I accept he wasn’t as insane as this appears to be and, as MA suggests...May, Cameron or Major would be idyllic compared to what we appear to have now.
This isn’t completely to do with Brexit...or the pandemic...or Putin I know...and I also recognise we’re not alone, but we are, I think, the only ones cutting taxes for the wealthiest and as for Labour ‘not being trusted’...how long have the Tories been in power?