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Makes you wonder what any future Gov, (Labour or otherwise) will do as the debt has risen almost 3 fold since Macaroon took office in 2010. 811 Billion in 2010 is now 2,365 Billion. Not a lot of wiggle room there? I wonder if they'll leave a note?Originally Posted by Old_pie
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They can photocopy the previous note. The real problem will arise when there isn't enough income to service the interest on the debt, then our credit rating goes down so the borrowing costs rises and after that all hell lets loose. Some investors may well then end up with junk bonds (well gilts actually).
It isn't that we seem to have a lot to show for all this borrowing even allowing for the events of the last couple of years.
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Two huge u-turns in one day (assuming the Govt sources are right about bringing forward the statement from 23rd November) is some going!
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Seems so:
https://www.bbc.co.uk/news/live/uk-politics-63114183
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Just catching up with the political news after four weeks away, and what a complete and utter mess we are in. Going back to the thread title, what exactly is "the leadership"? It's a totally inept person who gained power on the back of the votes of a modest majority from the blue rinse and gammon brigade. She surrounded herself with her supporters and delivered a disastrous "thanks for voting me in" mini budget which will definitely see yet more grovelling U-turns. The public don't want her, her own party don't want her, but the country is stuck with her. The Tories are now in an impossible situation, where if they bin her this early they will be a complete laughing stock, but if they stick with her they will be an even bigger laughing stock.
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They're just UKIP now and she's Katie Hopkins. It's 'when' not 'if', isn't it? They won't fight an election with her as leader.
What I don't understand is why, after costing the country 65 billion pounds over a disastrous mini-budget, are Truss and Kwarteng still in position? If that was in their worshipped private sector they'd be gone already - maybe facing charges, law suits and even jail time for gross negligence.
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Just read this...very believable
4m ago21.57 BST
Senior Conservatives are holding talks about replacing Liz Truss with a joint ticket of Rishi Sunak and Penny Mordaunt as part of a “coronation” by MPs, according to The Times.
Party grandees are understood to be in talks about replacing Truss with a “unity candidate”.
An MP told the newspaper: “Rishi’s people, Penny’s people and the sensible Truss supporters who realise she’s a disaster just need to sit down together and work out who the unity candidate is.
“It’s either Rishi as prime minister with Penny as his deputy and foreign secretary, or Penny as prime minister with Rishi as chancellor.
“They would promise to lead a government of all the talents and most MPs would fall in behind that.”
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Interesting. I was really tempted this morning to back Truss to be replaced as PM in 2022 at 11/2 because she is clearly a dead woman walking, but the very short timescale put me off. It would need a rule change because she is currently safe for 12 months, and even if they did get rid it would need another leadership election. The best price is now 11/4 however, so I might have missed out.
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That word 'coronation', I think that says it would be like the May selection, she was appointed unopposed, it never went to the membership. Remember it's the tories and rules are for little people, and that includes their own leadership rules
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People seem to be saying Mordaunt and Sunak.
I quite like that. Needs a cabinet with the best people for the job, not just mates who supported you.
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