Market reaction to PM's mini-budget U-turn
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- Опубліковано 13 жов 2022
- Sky's Paul Kelso asks if Liz Truss's corporation tax U-turn is enough to settle the nerves of those looking to invest in the British economy.
Keep up with all the latest reaction and analysis in the Sky News Politics Hub: trib.al/ecixuwi
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The only difference between circus clowns and Truss, is that circus clowns know they're clowns.
and people like Truss think that people are clowns
And clowns are actually good at their jobs.
When the jester becomes king the castle becomes a circus
The whole tory party is a circus
@@KesselRunner606 AA aaaaaa at all but
Billions SHELL
Billions -BP
BILLIONS -Texaco
BILLIONS -ESSO
BILLIONS.....shall I carry on ?
Greed can't be satisfied
Whatever they have they still want more
It's a financial competitive GAME!
Can't wait for all those billions to trickle down 🙄
These companies were privatised sold to khazarian talmudi k joo. Which are establishing lucifers rule
*BILLIONS* BMW just moved it's Electric Car production line from the UK to China 💰
That £41b now where could we find some of that?? Let me think, has anyone made huge profits I mean well above their normal profit of late??
I do recall hearing something about record profit s, just can't think who it was!!
Probably the poor. They do have higher energy bills, so they probably have more money from somewhere or their bills wouldn't be higher, they can pay more taxes. Impeccable logic.
I know, I know, How about a windfall gains tax would that fill the gap.
Thick Liz used to work for Shell.
sorry, that was me. I made an extra £300 this year. I know, it's an excessive amount. I'm sorry, and deeply ashamed.
Ahh yes let's tax the people already paying 50 percent on there own money . That will be so great for the country.
No the best idea is cut government spending . We have a spending problem not a income problem .
Let's get this straight. The guy who finally made Nurses strike. Is now in charge of the whole economy. F m l
Don't think throwing your friends under the bus to save yourself is as low as it's get.
Meanwhile UK announces additional £10m of aid for flood relief efforts in Pakistan
Mini-Budget for the general public. Further Big-Budgets for the rich.
Eh? The mini budget was for the rich, wotchaonnabout.
@@biggusdickus5986 yes but was not against the poor neither....
It’s all very well pointing finger at the chancellor and PM who are the responsible ministers but what about the advisers behind the scenes, they seem to be totally incompetent! Do they get fired? Not only do we need a change in the political word but with the advisers!
Part of the scandal is them being shut out of the process and Truss and Kwarteng completly ignoring them lmao
It was a major red flag when Truss allowed Kwarteng to by-pass the Office of Budget Responsibility when he brought in his mini-budget. They knew what would be said, and maybe even what might happen.
Truss had a reputation for ignoring advice, the fault completely rests on her and Kwartang
If only there was a way to tax the insanely rich companies, that could plug the hole. Alas it is clearly impossible as every tory mp has insisted
I laugh 😂 because inside I’m crying it’s pathetic
Tory government need to go.
Why is truss cutting the national insurance tax when the NHS waiting times are higher than ever?? Bruh
Lizzy was elected, by her own party members, and has done exactly as she promised. The party is now not happy with her actions, who/how many are to blame for this fiasco?. Boris and Rishi were doing a far better job. Now it can only decline more Jeremy unt in charge of the nations wealth, he could not manage the NHS, what hope have we got.
Jeremy Clunt will now live up to his name and reverse everything.
It is true. Truss has done exactly what she promised. So why on earth did the Tories select her when she was promising/threatening to borrow all the money in the world and give it away?
yep Boris was fantastic.....i am been sarcastic.....google it
We haven't had competent government in a decade
@@michaeldavison9808 Governments can't crash economies if they keep their money.
Great explanation
Sky Analyst: ‘Kwasi Economic has become a phenomena… a self destruct budget that doesn’t last more than a week and causes countless U-Turns.. resulting in the PM getting an attack of Verbal diarrhoea, a run on the pound.. and a resurgence of old failed ministers… there is a new word being used by economists…. It’s called ‘crap’…’
😂
It’s all about how much the rich can screw us for In reality
😭 And Truss gets to stay? Lol
And how much was track and trace app 😂
Cut the expenses of MPs. Forthwith.
The government is taking all the money 😂
Markets have become so fickle, that’s the real worry here. Governments now have to make decisions because markets overreact to news and the economy is propped on a knife edge on these markets. I do wonder if the same policies were brought in quietly and gradually if the markets would end up the same. Doubtful.
I really have to get into trading, can make a fortune with these massive market swings!
The Markets are REAL PEOPLE playing with the lives of the rest of us. It is not some mythical automated mechanism. Somebody make that clear FFS ! Then, somebody fugure out a better economic model instead of accepting this BS system that has been rigged over a century to work only for the rich . Wake up ! We are pissing away the resources of our future for the sake of something called Growth.
pretty much this is due to the fiat currency it makes the market more volatile as currency note printing can be done at will causing massive inflationary bubbles as it needs £2 of debt to create £1 of spendable currency, recessions are always inevitable in a Fiat currency system. this is why gold backed currencies are more stable as its based on a finite commodity, in short we are screwed no matter what any of them do this is the start of a global recession.
markets react to the new world
Wake me up when they tax oil companies
Un December. 😢
Rebuilding back better best outcomes for the UK
They could always as pizer for a loan
Austerity!
Tax the wealth of the riches
That would mean taxing themselves, they ain't gonna do that.
Increasing the interest rate for everything mainly for home loan .. who's is going to buy a new home ? or people already have the mortgage is suffering.
Real estate business in UK 2023 will be zero.
A total shambles
But this money is only on a computer screen. When are we going to get back to working with real money. Why is it that when someone says something, when they say a few word, is changes the worth of the a £.
They will find plenty of money come war.
The Government always have money for a rainy day.
I damn well hope so. Any country that can't find the money to defend itself isn't going to be around very long.
@@michaeldavison9808 It's not us they are defending
I swear this is all deliberate, find out how many Tories are shorting the currency...
That’s exactly my thinking j
Great reset
Ah truss throwing people under the bus, nothing changes.
I like how the auto-generated captions read "Quasi Quaten".
Let's see what happens Monday after the BoE has ended their support.
Will Jemery sell the NHS?
Have they not consider a new kettle?
The market has already lost confidence on this PM.
Some people say that comedy isn’t what it once was on tv.
It goes without saying that Liz Truss had to have rubber stamped Kwasi Kwarteng's mini budget. That means she was in on it up to her neck. And yet she has fired Kwasi. Isn't it the time she took a long look in the mirror and fired herself. If she does not take the hint, members of the 1922 Committee will do it for her.
Yes indeed. She acted like she wasn’t informed of his stupid mini-budget. She knew and would have to have agreed to it. So why has she kept her job?! 🤔 Jeremy Hunt is as much use as a tissue condom!
@@CyborgGerbil Cyborg -- Liz Truss has shot herself in the foot. I don't think she will make it to hospital.
Scapegoatism.why does she refuse to tax the oil companies who dont really mind giving their exesses away
Id like to know what percentage of the public actually want this woman running the country? My guess would be about 10%. We need a system where we have a PM that a minimum of 50% of the country want governed by
10% is a very generous estimation.
Yet no other party would be elected in a election. Labor is still unpopular and there's no other real contender.
People want the tax to be reduced. Why aren't those traders happy about it?
The Bank of England back to quantitative easing will only increase inflation further.
Rishi sunak was right
Calling this bill a trainwreck would be an insult to trainwrecks
Has anybody seen the state of our road right now imagine what they will look like by spring, we are in deep doo doo
sell the rumor buy the fact, same old way of trading, get used to it 5+% is going to be the new norm for gilt
Liz Truss is a classic example of the Dunning Kruger effect.
All the oil companies that made insane profits off an awful situation. What are they doing to help? In the words of an old tory prime minister, surely we're "all in this together."
She acted like she wasn’t informed of his stupid mini-budget. She knew & would have to have agreed to it. So why has she kept her job?! Jeremy Hunt is as much use as a tissue condom!
Let's not single out kwarteng in this madness - this is classic conservative fiscal trickle down economics.
The choice between Truss and Sunak was made by grass roots Tories "thinking with their blood." Both Truss and Kwarteng were intelligent young people who were radicalised at an early age into a politico-economic cult. Unlike acolytes of Al Qaeda, they were not led to slaughter half a dozen people on a city street: instead they have crashed the British economy and may be about to destroy the futures of millions. So that's all right then.
She is responsible, nobody else not even Kwasi, it was her vision she is PM ( right at the time of posting lol ) chucking him under the bus when it should have rolled over her, as the yanks say the buck stops at her desk.
I think the tories must have had some kind of self destructive urge when they thought choosing her and her plans was a good idea, it's proven Sunak exactly right, it also proves still a lot of racism in the party when they knew Sunak was more popular.
If they were racist then they wouldn't have had Kwasi - just saying...
@@billbird6494
Oh they'll give em positions up to a point but PM ? Not yet looooooong way off.
Think about it they had Sunak who spoke sense and was more liked by the public and a lot of the Cabinet liked him, but who did they put in as PM whiter than white bride of chucky looking woman with the worst policies going.
I rest my case for the prosecution.
How is it not Kwasi's fault too? Both him and Liz created the mini budget together.
@@billbird6494 not quite Bill, they can bear a immigrant as second not first. everyone knew Liz would get it why?
@@incognito96 Because politics is as real as wrestling? it's a pantomime on all sides.
Kwangtang was given the job as Chancellor but he didn't have a clue. May as well have put Phillip Schofield in the job.
Liz may have tried to help the markets that could have collapsed with BoE pulling out support but the reverse has happened. It will be a busy weekend across the Treasury, Checkers and backbenchers. Rearranging the deck chairs on the titanic or announcement of a new team to man the lifeboats?
Lifeboats is the key word there.
@@PanglossDr And
Titanic that's is bound to wreck
She was forced to act because the bank of England 🇬🇧, pulled the plug on bailing her out on the money 💰 🤑 💸 markets .
Everyone needs to calm down, it's not that bad.
This is all such a shame. Liz should have stuck to her guns. No way will I support Jeremy Hunt. I feel crushed.
If the tax cuts plan has to work, then the windfall has to be at 85-90%, only then u can equalize or put less stress on the treasury.
Just give the money they handed out back????
Britain got well deserving PM.
Her faults were all in plain sight during the tory leadership campaign.
@Salman Ahmed wasn’t the choice of the British public
Well let's hope she gets what she deserves. Kicked up the arse as she's booted out of no 10
The pound will go to zero by December 23rd
Somebody made alot of money off this "who" thats what i want to know.
Will she run out of chancellors before she has to go?
Dunning-Kruger effect
?
Truss, the Peter Principal.
Believe me Monday the financial market will collapse
What about the over £400 billion Sanuk wasted during the pandemic!
Politics POLITICS he was used as the escape goat. Can't Fool everyone
What utter claptrap. The tax cuts would raise more money not less.
This lot haven’t got a clue how to manage the country’s finances. Where are the specialists? This is Rubicon stuff.
Inflation is like a runaway train, there's nothing they can do to stop it.
All ye on final salary pensions, Beware. Ask not for whom the bell tolls, lest it toll for thee.
A/ election
They have ZERO confidence in our PM
That woman needs to go. She has lost the trust of the world in her competence. Every time she opens her mouth the economy gets a slap and people get more sceptical. I don’t see how she can lead anyone or anything ever. She lost me the moment when she compared herself to Thatcher and said she is prepared to be unpopular. She is too arrogant .
Hold tight on the markets they will bounce back. I have learned this through time.
Just goes to show who is running the UK. The Press.
This is akin to Elon Musk buying/ not buying Twitter.
U-turning over and over into a downward spiral is the forecast for the UK economy
That woman needs to go sooner than later…. My pension fund is light by over£ 22000 because of her incompetence
For everyone who thinks Liz Truss did this really needs to look into how money really works, this has ALWAYS been baked in the cake. Oh and that chart was a big lie it shows gdp at around 80% news flash its 103% and external debt to ratio stands at 290% 🤯.
Toast
The original budget was solid, but they should’ve also had spending cuts.
No. The idea that tax cuts pay from themselves is highly questionable and there is a limit to the amount of austerity the UK will put up with and not threaten stability.
The people in the markets disagree with the government.
Trickle down economics is an excellent strategy. The richest people and companies always choose to invest instead of running offshore with the extra profits. Good analysis 👍
Do not think for one minute any policies are going to fix the global decline of peoples living standards.
Debt will not allow to decrease inflation. Boombust
Sorry, but that doesn't actually mean anything in English.
That only because banker had gone again the government and they. Now should have no Bonus for the next two years and that money should be give to the treasurer.
45% tax rate.... Not fair share
Drain the Swamp
So, the tax cuts that would have encouraged growth and investment in the economy, and thus more than paid for themselves, have been scrapped. The rest, which cannot pay for themselves, only increase the National Debt, remain. Seems like a good policy.
Tax cuts for millionaires that encourage growth? She was pandering to the Tory 'gallery' and the world spotted that she is economically illiterate.
Haha, the tax cuts that would have encouraged growth my arse, it doesn't work like that, they would have just said thanks for the extra cash and popped it into an offshore account. They should take the 45% tax and give it as grants too verified new business start ups.
Europe is in an even worse position.
Trickle down economics is an excellent strategy. The richest people and companies always choose to invest instead of running offshore with the extra profits. Good analysis 👍
Should open a few windows and throw the bankers out of them enemy of the people
What about the money going to Ukraine could we not keep that?
Don't forget all the millions it costs to pay for the filled rubber boats that cross the Channel from Calais, they keep spouting numbers, a Thousand last Monday, in reality the true accurate numbers could be anything.
One thing is certain, none of them will be sitting in the cold this winter, won't be any snow on the hotel roofs, heating up full, tax payers picking up the tab.
Destination UK - Disneyland
@@G4RY1159 It's all according to plan - Kalergi country, crash economy. Here's a thought why not just bin Fiat currency completely and magic market speculation with it.
They can't crash the economy if they don't keep giving it away.
It’s clear who runs the country and it’s not us or our government. Very worrying.
Sky Analyst: ‘Kwasi Economic has become a phenomena… a self destruct budget that doesn’t last more than a week and causes countless U-Turns.. resulting in the PM getting an attack of Verbal diarrhoea and a run on the pound.. there is a new word being used by economists…. It’s called ‘crap’…’
😂😂
So all Kwasi Kwarteng did in his 38 day chancellorship was to make Bank of England to cough up £19 billion and left a grenade to explode later.
she's toast!
A crisis they say we are facing, and this most stupid of people is left to run the course of looking after us. Honestly, i wouldn't let her look after my goldfish
it's cuz he's blatt
I'm dead against drugs, but......MAKE CANNABIS LEGAL AND TAX THE HELL OUT OF IT!! HUGE AMOUNT OF FUNDING FOR THE GOVERNMENT AND PEOPLE ARE HAPPY!
It's easy - £63bn is almost exactly how much money we give to Scotland every year.
Didn’t listen to Rishi Sunak and this is what happened
lizz did this she hasn't git a clue what she doing. she leave too
Its not about billions and millions and trillions. Its about slavery and fuedalism ; someone should do all the hard labour for someone else for free.