It's not a mistake, this is deliberate. The hedge funds were given the heads up so they could game the pound, they knew exactly what this would do to the economy.
@Sam Carena....Not a new goverment but a new goverment culture where there is emphasis of following the mandate given by the British voter. A ''new goverment'' is just changing face but the system remains the same.
I honestly prefer sky news reporting. I honestly don't see how this tax decrease is a bad thing if it leads to an increase in domestic production especially in natural gas for instance. The issue is that multinational companies have such a stranglehold over the uk government which means they have no alternatives
Part of the problem is that parties now think that selecting a new leader should involve a vote from their membership, as this is "democratic". Hence, a bunch of ruddy maypole dancing, well-to-do farmers from the Southern counties who are Tory members made Truss the leader of the Conservatives and therefore PM, despite her not commanding a majority of the MPs. MPs elected by the UK electorate, who are more ideologically diverse and less right-wing than the Tory membership as a whole, would have picked someone like Rishi Sunak who was saying explicitly that these policies being set out by Truss were fantasy economics and a terrible idea. Truss being made PM is the worst example of a party membership putting a more extreme candidate into place, but this is exactly the same as what happened with Jeremy Corbyn, who was not popular with Labour MPs but was elected by the party membership, a bunch of depressed vegans who enjoy bright coloured hair-dye. Now, obviously after this failed experiment Labour came to their senses and put Kier Starmer into the leadership position - we can only hope either there is a GE, or a similar process happens whereby a more middle of the road Conservative candidate is put in place to replace Truss. Point is, because of the limited nature of party membership in the UK in modern times this idea of having their memberships elect a leader puts us at a greater risk of having more extremists in charge rather than someone that the public actually likes. We had this in 2019, Boris was never someone the public liked if we are honest - most people knew he was a liar, a cheat, a scoundrel, but then his opposite was Corbyn... If Starmer was against him do we really think we would have a Conservative government today - perhaps, but certainly not one with an 80 seat majority. We need to go back to MP only leadership selection, they have to appease their constituents (us) so have more to think about than just their ideological beliefs and personal goals.
If we were about to join something like the world's largest free trade market , growth could be a possibility but we have done the opposite. Now there is no trust they did everything that would scare investors. The sacking of senior members of the Treasury , not allowing the OBR to look at the figures. These decisions look deliberate to create instability.
I had not heard about the sacking of senior members of the treasury. Their guest references that at the end. When did that happen and why? Is there a date that was announced? This is just horrifyingly bad governance.
@@marshhen “The most senior civil servant in the Treasury has been sacked by Kwasi Kwarteng, the new Chancellor. Sir Tom Scholar, the Treasury permanent secretary, was told he was no longer wanted in the job on Tuesday.” The telegraph, September the 8th
You guys repeat what the press says, and investors get their info from the press. No one holds the press accountable though. Funny. Measures need years if not decades to work. Each measure is already condemned after day one by the press and some investors turn to different countries. Countries where the government is not much better, but the press doesn't depict it as a failure from day one. Not just with Truss. Cameron crucified from day one. Theresa May. Boris Johnson. You name it. At least in the last 15 years or so, from abroad, I've always only heard negativity towards each government from day one. Constant criticism by the press and those who follow it.
Theres not much that can be done for a failed state. Maybe in 20 years there maybe signs of a recovery, but i feel sorry for anyone young whos about to enter the work place, bad bad timing.
It angers me so much that Labour are so inept as to allow themselves to be painted as the party of economic incompetence in the British psyche when the conservative track record is significantly worse. They have dismantled the poor and working class in this country and there has been silence, now they’re coming for the middle class and homeowners. Let this be a lesson to everyone.
You're all deluded: none of them are interested in the prosperity of citizens - be they working or middle class. The economy has been systematically demolished over the past 30 years, with the charges going off with the scamdemic, followed by that lovely wealth transfer con, 'Aid' for Ukraine. Ha! As if Labour being in charge would make the blind bit of difference anyway... Well, you might get full blown Communism sooner, but then the Conservatives are already doing quite well at this.
@@wayneford2481 brexit was a choice of the people to no longer remain apart of something we didn’t want to be apart of it changed from a single market to a rigid peer system of which we had no say who was in charge no complete control of any of our decisions and had to pay billions to nations that didn’t even seem to receive the funds now the Labour parties issue isn’t so much incompetence it’s the fact it doesn’t align with the majority of British political opinion which has leaned heavily to a more right nationalistic ideal
"Make sure that actions are coherent and consistent", said the IMF. Sound words of advice that had Liz Truss scrambling for her "ABC Book of Big Words" to try to understand what the IMF meant. Having failed to grasp their meaning, she got out her crayons instead and spent the afternoon doodling smiley faces on post it notes.
It’s not a case of Will there be. There has to be a U-turn. The markets know what they’re up too, they have no intention of seriously cutting the deficit, they intend to inflation their way out of it. They are completely inept.
Sure, focus on growth but with methods that work and not delusional ideas like trickle down economics that have been thoroughly debunked decades ago and never worked anywhere in the world, let alone in a country that doesn't hold the world's reserve currency.but a currency that everybody can easily get rid of when it looks unstable.
How on earth did a person whose primary campaign focus was cutting the corporate tax rate get elected to the highest office in the UK? As greedy and scummy as U.S. politics are, politicians here at least pretend not to support such things while they're running for office.
She was elected by party members, not by the general public, so she only really had to get the votes of a small number of old wealthy conservatives (sort of like a caucus in the US). In the UK the public only get to vote for a party, then that party can change leaders as many times as they like before the next election comes around. It's a stupid system really. The only way to get an early election and change parties is if 2/3rds of all 650 MPs agree to one, and that's unlikely to happen while the opinion polls are so bad for the ruling party.
Please put people in that care about people again Instead of corruption and in pockets of the elite I'm very depressed and worried ordinary people need to be helped 😤
Props to Gary in this video. I've always liked that Channel 4 has kept everything very short and simple in the small details whilst being very good at dealing with the big message
He doesn't care that he might have to resign, he'll have got a nice cushy job lined up at his former employer Odey Asset Management, with a nice fat bonus paid for by all the money they made shorting the pound.
I suggest liss TRUSS to give a public call 🇬🇧🙏🏼 Those who want to help the situation now with economy in UK couldn't deposit their money or gold in UK bank . There will be no interests for those deposits but it is a safe returnable whenever they want. This deposit will help uk government to correct their economy God bless liss TRUSS God bless UK 🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼
@@sw1000xg Economy was growing in 2010 when Labour left office. Fact. The note was a tradition going back decades and was not to be taken seriously. It was not meant literally. The Conservatives decided to exploit it by lying to justify austerity in order to punish the poor. The deficit and debt both increased meaning they failed by their own measure. Peak year for disposable income in 1970s was 1976 due to strong unions. Tories have destroyed society but one day people might learn to stop voting for incompetence and greed.
@@eightiesmusic1984 it wasn't growing. Because Liam Byrne wouldn't have left a note stating there no money. If it was growing. And then we spent 5 years in austerity. Clueless troll.
... Based on what law would the police investigate? You can't just turn up and decide that "something smells bad", this isn't a sodding noir procedural...
Doctor: How are you today? Truss: We are absolutely focused on growth. Doctor: Let's get back to your husband's erection issue. Truss: It is caused by Putin's appalling war in Ukraine. Doctor: What are you talking about. Truss: Interest rates have been going up globally long before my thing. Doctor: .... Truss: I help reduce the energy bills.
I don't understand how low corporation tax is bad, it will draw more enterprise on the territory and more jobs. Tax increase will just make more people get sacked? I don't understand why it is bad? Plus this fickle behaviour will deter more investors that don't like such sudden political changes.
This is so crazy. I definitely think Kawze is to blame, but Liz needs to step up and take some accountability. She treats economics like a religious ritual vs a dynamic science. You can’t just do Reagan/Thatcher tax cuts and hope for the best. Sunak, despite his other flaws, made much more sense economically.
@Abraham EL-Gothamy....How is Kwarteng to blame ? When these economic policies where already set by the Conservative party before Kwarteng became the minister of economy.
This was Truss's stance she spoke about what she wanted to do for 5 weeks. Hired KamiKwasi to carry that out, so it's on her both are equally guilty of being ignorant and arrogant in equal measures.
@@chrissilver7719 i agree. He might not have been the origin of the plan, but he carried it out. He is supposedly intelligent and he should have foreseen this. Like there are a bunch of reasons why this is a horrible time for the uk to enact these plans. A huge war in Europe, lingering effects of the pandemic, a smaller country without a large consumer base.
The two things I disagree that Rishi did was increase national insurance and announce increasing corporation tax. More tax when you are going into a recession is not a good idea. The corporation tax will only affect the small to medium size companies as well because the big multinationals will just move their profits to other countries.
Blind leading the blind ,give the refuge collectors a chance to sort the country out ,they couldn't do any worse and they would appreciate the high wages paid
I am still @ this place, where, prior to releasing this claymore mine mini-budget, didn't they THINK, " we should get some outside financial institution ppl., to review this, see how it will impact the economy/markets ", for the love of God. Here we are, trying to save the economy-THINK before you do things, it's important!!! I am NY Toms very British future wife, Veteran, Middle East & Continent of Africa
Their economic outlook is absolutely unrealistic and unacceptable...we need a balanced approach to collecting taxes fairly and spreading the benefits equitably and creating an environment of progressive society rooted in solid foundations
@@plok77 The only thing they did wrong is how they went about it. That was politically naive. The actually policies are around. I mean the corporation tax hasn't even happened yet so we haven't seen a cut.
@@cup1966wow The markets clearly didn't like the signals being sent out by the government with their mini-budget on the future direction of fiscal policy. Announcing tax cuts without a proper costing by the OBR, based on vague promises of future growth. And the Chancellor's tour of TV studios that weekend hinting of further tax cuts to come. With high inflation, rising interest rates, and the UK economy either already in recession or teetering on the brink, the markets reached the not unreasonable conclusion that this wasn't sensible.
@@plok77 As I said it's not that the policies aren't sensible it's how they handled it. The corporation is a big thing and I completely disagree with that rise. Working for a small company I know how much they are worried about that. And small companies are the ones that get most affected as big companies have the ability to move profita around to other countries easily. They should it just waited to the November budget to announce all this and not do the 45% tax cut. The benefit of it is small either way but it's a big political thing.
Tories nominating someone to take over Truss? Really? Haven’t they proved how poor of choices they make? I can’t comprehend how its acceptable to have new PMs and governments elected only by the elites
Does anyone else remember when ministers used to resign for making catastrophic, self-inflicted mistakes?
It's not a mistake, this is deliberate. The hedge funds were given the heads up so they could game the pound, they knew exactly what this would do to the economy.
only when they were exposed by the media, if they had not of been caught they would happily carry on taking taxpayers money
@@austinbeige Rishi Sunak even warned everyone.
@@austinbeige In other words this is straight up, deliberate, class warfare.
Welcome to the post-consequence, post-accountability era, these people have no shame
We need a new government, enough is enough
For what? So you can vote the next clown into power?
@Sam Carena....Not a new goverment but a new goverment culture where there is emphasis of following the mandate given by the British voter. A ''new goverment'' is just changing face but the system remains the same.
@@ruinerblodsinn6648 It's impossible that anyone else can be anymore of a liability
@@laurenk6741 pretty sure allot of people said that when boris left.
@Yakov Shani Mordaunt was the only choice here.
Long live channel 4 news reporting , it's the vanguard of reporting news, thank you so much!
Let's hope Dorries' replacement doesn't privatise C4.
@@stevejones2310
glad the idea was scrapped, was so petty.
@@joshuaparrott2458 is it a definite other U-turn? I didn't know.
I honestly prefer sky news reporting.
I honestly don't see how this tax decrease is a bad thing if it leads to an increase in domestic production especially in natural gas for instance. The issue is that multinational companies have such a stranglehold over the uk government which means they have no alternatives
@@Micfri300 every economist and financial expert except for one says that Truss's ideology is flawed.
The exception is Patrick Minford - Truss's guru.
The police now need to investigate the people involved in the mini budget. Follow the money!
I think they're in Washington as KTang spends most of his time there.
we don't have an FBI in the UK, corruption is either ruled by 'convention' or just ignored.
Yup, imagine the insider tradings possibly talking place !!!!
The damage has already been done.
The question is, how bad is it going to get.
Getting rid of the mini budget will help.
It will be a W-turn. Double U-turn.
Double U-turn is a circle 😂
Watch out for the rough edges 😉
That would work if it was a V-turn
The UK needs to make a dramatic government U-turn never mind U-turns within the government.
🙄
@@timcomley5948 use your words Tim, then we might know what you think. 🤔
Rejoin single market 👌
@@40yearoldvirgil15 yes!
Part of the problem is that parties now think that selecting a new leader should involve a vote from their membership, as this is "democratic". Hence, a bunch of ruddy maypole dancing, well-to-do farmers from the Southern counties who are Tory members made Truss the leader of the Conservatives and therefore PM, despite her not commanding a majority of the MPs. MPs elected by the UK electorate, who are more ideologically diverse and less right-wing than the Tory membership as a whole, would have picked someone like Rishi Sunak who was saying explicitly that these policies being set out by Truss were fantasy economics and a terrible idea.
Truss being made PM is the worst example of a party membership putting a more extreme candidate into place, but this is exactly the same as what happened with Jeremy Corbyn, who was not popular with Labour MPs but was elected by the party membership, a bunch of depressed vegans who enjoy bright coloured hair-dye. Now, obviously after this failed experiment Labour came to their senses and put Kier Starmer into the leadership position - we can only hope either there is a GE, or a similar process happens whereby a more middle of the road Conservative candidate is put in place to replace Truss.
Point is, because of the limited nature of party membership in the UK in modern times this idea of having their memberships elect a leader puts us at a greater risk of having more extremists in charge rather than someone that the public actually likes. We had this in 2019, Boris was never someone the public liked if we are honest - most people knew he was a liar, a cheat, a scoundrel, but then his opposite was Corbyn... If Starmer was against him do we really think we would have a Conservative government today - perhaps, but certainly not one with an 80 seat majority. We need to go back to MP only leadership selection, they have to appease their constituents (us) so have more to think about than just their ideological beliefs and personal goals.
It's only a matter of time that we will get to know about the personal favours in exchange for the bini budget.
In 10-15 years time, probably so
They are asking the wrong person. They should interview Odey Asset Management on what positions they have taken in the market.
Exactly
Jail him. Take all his assets.
They used to say a week in politics is a long time , that's just been reduced to 12 hours ...
The Tories are a disaster.
Have always been.
Thanks to an unelectable anti British labour party.
Not for rich and wealthy.
Final proof that the Tories are not and never have been "the party of fiscal responsibility".
A revolving door is to be fitted to number 10...
Well, the chief mouser won't need to wait around for someone to open the door for him.
IF THIS WAS LABOUR, WE WOULD OF HAD A GENERAL ELECTION AS SOON AS WE FOUND OUT THEY PARTIED AT CHRISTMAS WHILE PEOPLE DIED ALONE
Spot on.
this
Except no Labour Governmemt would behave like that so the situation would have never arisen.
I do hope Channel 4 is not privatised, by this discredited Government, as they are doing a splendid job.
If we were about to join something like the world's largest free trade market , growth could be a possibility but we have done the opposite. Now there is no trust they did everything that would scare investors.
The sacking of senior members of the Treasury , not allowing the OBR to look at the figures. These decisions look deliberate to create instability.
Not only there is no trust but soon there will be no Truss either
I had not heard about the sacking of senior members of the treasury. Their guest references that at the end. When did that happen and why? Is there a date that was announced? This is just horrifyingly bad governance.
@@marshhen “The most senior civil servant in the Treasury has been sacked by Kwasi Kwarteng, the new Chancellor. Sir Tom Scholar, the Treasury permanent secretary, was told he was no longer wanted in the job on Tuesday.” The telegraph, September the 8th
Free trade will never work in the United Kingdom. Our nation simply isn't big enough to support it.
You guys repeat what the press says, and investors get their info from the press. No one holds the press accountable though. Funny. Measures need years if not decades to work. Each measure is already condemned after day one by the press and some investors turn to different countries. Countries where the government is not much better, but the press doesn't depict it as a failure from day one. Not just with Truss. Cameron crucified from day one. Theresa May. Boris Johnson. You name it. At least in the last 15 years or so, from abroad, I've always only heard negativity towards each government from day one. Constant criticism by the press and those who follow it.
Never have I more strongly believed than no govt (anarchy effectively) to be better than govt until this govt.
We all need to spoil our ballet papers at the next election.
@@pqrstzxerty1296 that is normally something that the left do, and normally benefits conservatives, so no
@@pqrstzxerty1296 no we need to vote for parties supporting PR.
@@jacquie212 Well vote for the Green party then and waste you vote in a two party system.
Theres not much that can be done for a failed state.
Maybe in 20 years there maybe signs of a recovery, but i feel sorry for anyone young whos about to enter the work place, bad bad timing.
it's ridiculous at this point, there's homeless people on every corner now
not so much can truss and kwarteng survice this turmoil, what about the public?
Kwasi and Truss have ruined millions of lives. They should do the best thing and resign. Pair of them are not fit to do their jobs !
Truss and Kwarteng merely carry out the will of ERG. That was the deal.
Take at least a good chunk of your money out of the banks before they start preventing you from doing so, this is going to get ugly
He is in the air. Like everything else: up in the air! A few dice up in the air might do a better job when they land 🙂
Except the pound which continues to plummet
U turn...
He's sacked
16 hours later...
It angers me so much that Labour are so inept as to allow themselves to be painted as the party of economic incompetence in the British psyche when the conservative track record is significantly worse.
They have dismantled the poor and working class in this country and there has been silence, now they’re coming for the middle class and homeowners. Let this be a lesson to everyone.
Witch tory paper do you read . Saying labour will be bad is like saying BREXIT will be good.
@@wayneford2481 He didn't say Labour would be bad. He said Labour allowed themselves to be painted as bad, which is true.
indeed, Labour is just dumb
You're all deluded: none of them are interested in the prosperity of citizens - be they working or middle class.
The economy has been systematically demolished over the past 30 years, with the charges going off with the scamdemic, followed by that lovely wealth transfer con, 'Aid' for Ukraine.
Ha! As if Labour being in charge would make the blind bit of difference anyway...
Well, you might get full blown Communism sooner, but then the Conservatives are already doing quite well at this.
@@wayneford2481 brexit was a choice of the people to no longer remain apart of something we didn’t want to be apart of it changed from a single market to a rigid peer system of which we had no say who was in charge no complete control of any of our decisions and had to pay billions to nations that didn’t even seem to receive the funds now the Labour parties issue isn’t so much incompetence it’s the fact it doesn’t align with the majority of British political opinion which has leaned heavily to a more right nationalistic ideal
"Make sure that actions are coherent and consistent", said the IMF. Sound words of advice that had Liz Truss scrambling for her "ABC Book of Big Words" to try to understand what the IMF meant. Having failed to grasp their meaning, she got out her crayons instead and spent the afternoon doodling smiley faces on post it notes.
😂😂 brilliant. I needed cheering up thank you.
Sounds like the IELTS test requirement
Obesity Coffey must have a A B.C Z PLAN for the economy.
It’s not a case of Will there be. There has to be a U-turn. The markets know what they’re up too, they have no intention of seriously cutting the deficit, they intend to inflation their way out of it. They are completely inept.
Sure, focus on growth but with methods that work and not delusional ideas like trickle down economics that have been thoroughly debunked decades ago and never worked anywhere in the world, let alone in a country that doesn't hold the world's reserve currency.but a currency that everybody can easily get rid of when it looks unstable.
His credibility has taken hits after hits
Financial matters on the ground are way different from ideological persuasions!
Damage is already done though. No u turn is going to bring mortgages back down
I think we need another U turn on the U turn on the U turn, it's the only way.
You might need to U-turn on that.. if they U-turn
@@richard-gn3es a full 360 U-turn
Let's be honest. Politicians don't work for us. They work for the city.
Kwarteng would make a great cricket announcer 🎉🎉🎉
Professionalism is the keyword, nobody has . Hence all these havocs.
One word. SHAMBLES.
cheer up everyone its only 2 more pm s till christmas!
Didn’t skim enough off the top to appease those involved the first time round.
I dont care what anyone says but Boris is still worse than truss because he got away a lot of stuff it was hard to bring him down
Vote labour and avoid this
I look forward to the Chancellorship of Rees Mogg, that should be hilarious!
Yes you can share the joke as you queue at the Food Banks
Liz Truss is the conservatives Jeremy Corbyn !
How I long for the strength and stability of Theresa may and Philip Hammond
Its amazing truss and Kwasi are not accountable and go to prison for breaking the UK economy. Nick Leeson did for Barings Bank...
How on earth did a person whose primary campaign focus was cutting the corporate tax rate get elected to the highest office in the UK? As greedy and scummy as U.S. politics are, politicians here at least pretend not to support such things while they're running for office.
She was elected by party members, not by the general public, so she only really had to get the votes of a small number of old wealthy conservatives (sort of like a caucus in the US).
In the UK the public only get to vote for a party, then that party can change leaders as many times as they like before the next election comes around. It's a stupid system really.
The only way to get an early election and change parties is if 2/3rds of all 650 MPs agree to one, and that's unlikely to happen while the opinion polls are so bad for the ruling party.
ALEX JONES CAN FUND THE BUDGET...
@Green...You mean that idiot that love spewing misinformation, racism and conspiracy theories.
Please put people in that care about people again Instead of corruption and in pockets of the elite I'm very depressed and worried ordinary people need to be helped 😤
Props to Gary in this video. I've always liked that Channel 4 has kept everything very short and simple in the small details whilst being very good at dealing with the big message
The next mini budget :- wheel barrow economics ,1 barrow of useless pound notes for a small lump of coal!
How can we have a growth plan when we have no money or confidence in our leaders! Just more of the same.
Well done Channel 4! Good questions and good interviewees. Just the sort of educational short content we need on current affairs. Keep it up!
Somewhere Sunak is smiling
Just inept completely inept. Can we put them on performance related pay? Soon book up then wouldn’t they?
He doesn't care that he might have to resign, he'll have got a nice cushy job lined up at his former employer Odey Asset Management, with a nice fat bonus paid for by all the money they made shorting the pound.
It's funny ... how the markets always know the truth.
I want a bigger pie!
It seems that "Confidence of The Markets" takes priority over say public services and peoples benefits
?
for the good of the country man, go Kwasi
For the good of the entire world, actually.
Unity candidate can be found and it certainly means kicking Lliz out
Summoned by the IMF!
We need an early gen election
Building back better best outcomes for the UK
I suggest liss TRUSS to give a public call 🇬🇧🙏🏼
Those who want to help the situation now with economy in UK couldn't deposit their money or gold in UK bank .
There will be no interests for those deposits but it is a safe returnable whenever they want.
This deposit will help uk government to correct their economy
God bless liss TRUSS
God bless UK 🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼
Tory disasternomics 1900-2022. General election needed urgently.
And who would you recommend replace them? Labour? LoL ruined the country in 1979. And in 2010. Liam Byrne's note there's no money.
@@sw1000xg Economy was growing in 2010 when Labour left office. Fact. The note was a tradition going back decades and was not to be taken seriously. It was not meant literally. The Conservatives decided to exploit it by lying to justify austerity in order to punish the poor. The deficit and debt both increased meaning they failed by their own measure. Peak year for disposable income in 1970s was 1976 due to strong unions. Tories have destroyed society but one day people might learn to stop voting for incompetence and greed.
@@eightiesmusic1984 it wasn't growing. Because Liam Byrne wouldn't have left a note stating there no money. If it was growing. And then we spent 5 years in austerity. Clueless troll.
@@eightiesmusic1984 we had three day weeks in the late 70s under labour. lol you're a muppet.
@@eightiesmusic1984 lol the note was last written in the 60s. And we spent over 5 years in austerity afterwards.
He will be partying in the states .Screw us.He is a disaster.
Good to see we're so tolerant as a nation that even a person with special needs can become PM.
Jobcentre
The mini budget is now a police matter. Something smells bad. The police need to investigate asap.
inb4
>the government has investigated itself and found no wrongdoing
... Based on what law would the police investigate? You can't just turn up and decide that "something smells bad", this isn't a sodding noir procedural...
"From where I am sitting here", says the chancellor standing in front of the cameras. Hmm sitting or standing? Maybe he just stands for nothing.
Kamikaze Kwarteng will go down in history as one of the shorted lived and worst chancellors in British history. Quite an achievement.
Taking back control is not what it’s cracked up to be. 🤣
Doctor: How are you today?
Truss: We are absolutely focused on growth.
Doctor: Let's get back to your husband's erection issue.
Truss: It is caused by Putin's appalling war in Ukraine.
Doctor: What are you talking about.
Truss: Interest rates have been going up globally long before my thing.
Doctor: ....
Truss: I help reduce the energy bills.
😆😆😆😆😆😆😆
😂
😆
I don't understand how low corporation tax is bad, it will draw more enterprise on the territory and more jobs.
Tax increase will just make more people get sacked?
I don't understand why it is bad?
Plus this fickle behaviour will deter more investors that don't like such sudden political changes.
This is so crazy. I definitely think Kawze is to blame, but Liz needs to step up and take some accountability. She treats economics like a religious ritual vs a dynamic science. You can’t just do Reagan/Thatcher tax cuts and hope for the best. Sunak, despite his other flaws, made much more sense economically.
@Abraham EL-Gothamy....How is Kwarteng to blame ? When these economic policies where already set by the Conservative party before Kwarteng became the minister of economy.
This was Truss's stance she spoke about what she wanted to do for 5 weeks. Hired KamiKwasi to carry that out, so it's on her both are equally guilty of being ignorant and arrogant in equal measures.
@@chrissilver7719 i agree. He might not have been the origin of the plan, but he carried it out. He is supposedly intelligent and he should have foreseen this. Like there are a bunch of reasons why this is a horrible time for the uk to enact these plans. A huge war in Europe, lingering effects of the pandemic, a smaller country without a large consumer base.
@@onlineonlineaccount2368 please see my reply to chris silver.
The two things I disagree that Rishi did was increase national insurance and announce increasing corporation tax. More tax when you are going into a recession is not a good idea.
The corporation tax will only affect the small to medium size companies as well because the big multinationals will just move their profits to other countries.
Blind leading the blind ,give the refuge collectors a chance to sort the country out ,they couldn't do any worse and they would appreciate the high wages paid
They should put a Magic 8 Ball in charge - would make more sense.
This really is the Humiliated Leading the Hopeless in Support of Clueless.
Sunaik must be saying I told you so
They will drop Corp tax and 1% income tax cuts.
I am still @ this place, where, prior to releasing this claymore mine mini-budget, didn't they THINK, " we should get some outside financial institution ppl., to review this, see how it will impact the economy/markets ", for the love of God. Here we are, trying to save the economy-THINK before you do things, it's important!!! I am NY Toms very British future wife, Veteran, Middle East & Continent of Africa
The Tories need a quick u turn and throw Truss out🇬🇧🇬🇧
Their economic outlook is absolutely unrealistic and unacceptable...we need a balanced approach to collecting taxes fairly and spreading the benefits equitably and creating an environment of progressive society rooted in solid foundations
Hey guys put your mortgage on a U-turn, the sad thing is we are.
Truss and Kwarteng. Or better known as Dumb n Dumber.
“So you’re saying…”
Can the country do a U-turn!?! Who voted for this!!! And we've had ENOUGH!!!
It’s either a Uturn or we drown completely
The "Government" is beginning to look like a suggestion/query rather than a fact
Economic reality 10
Populist fantasy 0
Ruble and Yuan should be included as the International trade currency options in WTO.
What a difference less than a day makes!
ultimately liz truss is responsible for her ministers she needs to go
LOL "People are talking about some of the ideas we put forward" I want a double shot of what he is smoking please!
They're talking about it - as an object lesson in how not to manage an economy
If it sells well he'll cut the tax on it!
@@plok77 The only thing they did wrong is how they went about it. That was politically naive. The actually policies are around. I mean the corporation tax hasn't even happened yet so we haven't seen a cut.
@@cup1966wow The markets clearly didn't like the signals being sent out by the government with their mini-budget on the future direction of fiscal policy. Announcing tax cuts without a proper costing by the OBR, based on vague promises of future growth. And the Chancellor's tour of TV studios that weekend hinting of further tax cuts to come. With high inflation, rising interest rates, and the UK economy either already in recession or teetering on the brink, the markets reached the not unreasonable conclusion that this wasn't sensible.
@@plok77 As I said it's not that the policies aren't sensible it's how they handled it. The corporation is a big thing and I completely disagree with that rise. Working for a small company I know how much they are worried about that. And small companies are the ones that get most affected as big companies have the ability to move profita around to other countries easily.
They should it just waited to the November budget to announce all this and not do the 45% tax cut. The benefit of it is small either way but it's a big political thing.
Tories nominating someone to take over Truss?
Really? Haven’t they proved how poor of choices they make?
I can’t comprehend how its acceptable to have new PMs and governments elected only by the elites
Why not? I am calling it now… Liz Truss’s legacy will be one of U-Turns and dire straits.
They’ve had their arses skelped
Kwasi mister Commonwealth 😂🤘
Kwar-teng 🤣🤣🤣 that name
Should be taken care of the country. Not more talking. Talking talking. Action grow up. No more enough is enough.
Y'all called it
Any resignations yet?