The Daily Post Election Politics Thread

[Perkles]

Not long now...

Fwiw I reckon we'll be Trussed up by the Con' party, because they will be voting for the best interests of the Con' party. ( Looking forwards to the next election, Truss will be more likely to compete well against Labour).

I really hope labour get their act together to keep the tories in check

[duke63]

Another Tory PM not elected as PM by the Country.

[StMarks]

and the rain cried a little pity, for us

[Kwacky]

A new budget

Tax rate of 45% to go (benefits people earning over £150k)
Stamp duty reduced
Corporation tax rise cancelled
NIC rise cancelled
Basic rate of income tax moved to 19p
Tax free shopping for tourists


The biggest move for me is the creation of 40 investment zones. These zones will have relaxed planning and environment regulations and reduced taxes. Planning obligations which require developers to mitigate pressure on the local area by building or paying for additional infrastructure projects in exchange for planning permission, could also be scaled back in the first batch of investment zones.

I'm wary of these investment zones. It sounds like you're going to have areas controlled by a company or companies. Imagine an Amazon village with the workers housed and the kids schooled by the company, who would also be looking after their health needs.

[Perkles]

We have lost over £12m of business due to brexit and new or wooly regulations please fix that first
Ta !

[StMarks]

And the GBP is already at it's lowest against USD since the mid 1980's..

[Kwacky]

I see India has taken our long held 5th place in the largest economies and we're predicted to be the worst for growth in the G20

[D6Nutz]

But in shock news, the new government has actually kept a promise. I know it only affects a small part of the population, but I am included in that part.

The Chancellor has today committed to repealing the Off-payroll legislation, which were supposed to reform IR35, but instead held businesses back. The IR35 Reforms, which rolled into the public and private sectors in 2017 and 2021 respectively will no longer apply from April 2023. Instead, the original rules will remain, and contractors will be responsible for assessing their own tax.

Whether the big companies will listen and do away with umbrella companies is another thing entirely. I hope they do as I much preferred having my own ltd company.

Sent from my Pixel 6 Pro using Tapatalk

[duke63]

Former US Treasury secretary Larry Summers warned the pound could fall below the dollar due to the huge spending commitments outlined by Mr Kwarteng.

"It makes me very sorry to say, but I think the UK is behaving a bit like an emerging market turning itself into a submerging market," Mr Summers told Bloomberg.

"Between Brexit, how far the Bank of England got behind the curve and now these fiscal policies, I think Britain will be remembered for having pursuing the worst macroeconomic policies of any major country in a long time."

Jane Foley, a currency strategist at Rabobank, said the sell-off of sterling showed investors have doubts about the government's plans.

"They're worried that some of these tax cuts that have been announced aren't going to be fully funded. That will result in a large amount of debt at a time when the Bank of England is going to be selling some of its holdings of UK government debt," she said.

"I think this government does need to provide a lot more reassurance that it does have fiscal sensibility in order. This is not the message that's come across this morning."

[Kwacky]

The Bank of England is having an emergency meeting next week.

[duke63]

I reckon that might have to increase rates again by at least 0.5%

[Monty]

So glad I fixed my mortgage rate for 10 years when it all started getting Trumpy and BREXSH!TY.

[Monty]

I'm wary of these investment zones. It sounds like you're going to have areas controlled by a company or companies. Imagine an Amazon village with the workers housed and the kids schooled by the company, who would also be looking after their health needs.

Modern-day work house!

[Jack]

“The paradise of the rich is made out of the hell of the poor.”
— Victor Hugo

[StMarks]

https://longforecast.com/pound-to-dolla ... 0-and-2021" onclick="window.open(this.href);return false;
Anyone want to sell me some gold.??

[duke63]

The pound continues to slump. We have absolute clowns in charge.

[D41]

The pound is at @ $1.07-ish....which is scary weak. The lowest I can remember it being prior to this is around the $1.20 mark.

[kiwikrasher]

The pound continues to slump. We have absolute clowns in charge.

Time to start looking for some motorbike gear bargains since the Aussie is getting stronger against the Pound!

[Jack]

[video]https://www.youtube.com/watch?v=w-V5FVludFk[/video]

this is Journalism of the highest caliber

[Kwacky]

He's always on the money