Liz Truss Resigns [Who'll be the next Prime Minister?]

[1andrew1]

Originally Posted by Damien

What are the chances they u-turn on the mini-budget?

To date, their approach has been to double down. I don't know how much worse things need to get before they can be persaded to postpone some of the unfunded elements of that minibudget.

Originally Posted by Damien

What are the chances they u-turn on the mini-budget?

We’re into tealeaf reading territory now, but … I think Truss has a messianic belief in what she’s doing and might be prepared to go to the country rather than doing a u-turn.

She thinks she’s Thatcher reincarnate and you might remember her attitude to u-turns.

[jfman]

Originally Posted by 1andrew1

To date, their approach has been to double down. I don't know how much worse things need to get before they can be persaded to postpone some of the unfunded elements of that minibudget.

If they’re resigned to losing the next election anyway well they might as well accelerate the destruction of the state for profit.

[denphone]

Originally Posted by Damien

What are the chances they u-turn on the mini-budget?

That depends if they follow the Boris Johnson style of regular u-turns.

[Jaymoss]

Maybe there will be another no confidence vote and Boris gets back in as the lesser of 2 evils

Truss was never going to be good. She has shown a history of flip flopping and generally can not be trusted due to her links to high finance. Surprised anyone is surprised tbh. Dunno if Sunak would have been better or more of the same. We need a leader that isn't about being rich and feeding the rich but dunno in politics if that kind of person exists

[mrmistoffelees]

Originally Posted by Chris

We’re into tealeaf reading territory now, but … I think Truss has a messianic belief in what she’s doing and might be prepared to go to the country rather than doing a u-turn.

She thinks she’s Thatcher reincarnate and you might remember her attitude to u-turns.

Given labours purported lead in the polls (of course no guarantee that it extrapolates) is she really that stupid/arrogant ?

[1andrew1]

Originally Posted by mrmistoffelees

Given labours purported lead in the polls (of course no guarantee that it extrapolates) is she really that stupid/arrogant ?

I think to date we've seen a clever, educated person make lots of silly mistakes but even I think this is unlikely.

[denphone]

This from Lucy Fisher from Times Radio.

https://twitter.com/LOS_Fisher/statu...92698306215936

Tory MP on economic turmoil: 'Politically this is extinction level for us. It's all over.

'Half of my colleagues realise it, the Q is just how quickly will the other half catch up.'

MP predicts party may remove Truss, but doubts whether that would prevent an electoral rout

[jfman]

Originally Posted by mrmistoffelees

Given labours purported lead in the polls (of course no guarantee that it extrapolates) is she really that stupid/arrogant ?

A lucrative role in the private sector no doubt awaits. Probably with an organisation heavily betting against UK plc.

Originally Posted by Chris

We’re into tealeaf reading territory now, but … I think Truss has a messianic belief in what she’s doing and might be prepared to go to the country rather than doing a u-turn.

She thinks she’s Thatcher reincarnate and you might remember her attitude to u-turns.

I think she may style herself as Thatcher and try to mimic that conviction but I am not sure she actually has it. It's just cosplay. When she was talking about tax cuts and borrowing in the leadership campaign I didn't sense a deep belief in what she was saying. She would struggle in response to Sunak for example, someone who deeply believed in it would adapt better in a debate as they had a true understanding of their argument.

Originally Posted by papa smurf

It says you're boring the arse off us and we just can't be bothered with this drivel

[papa smurf]

Originally Posted by Damien

What are the chances they u-turn on the mini-budget?

After a couple of days ?

[1andrew1]

Two interesting take-aways: How will MPs vote on the mini budget and will Kwarteng survive the financial turmoil?

Tory MPs question Kwarteng’s future as market turmoil continues

Some say PM must jettison chancellor or risk further backlash

Tory MPs were despairing after another day of market chaos, with the Bank of England announcing plans to buy government bonds, effectively to defend the economy from Kwarteng’s own policy.

Some claimed that Liz Truss, prime minister, is trying to distance herself from Kwarteng’s economic strategy, even though she was instrumental in devising the plan of debt-funded tax cuts worth £45bn.

Truss has not made a public statement since the markets delivered a vicious verdict on her government’s economic plan released on Friday. There have been tensions between her and Kwarteng on how to respond to the tumult.

One former cabinet minister told the Financial Times: “I think he’s dead but in the Tory party death can take many forms. It can take a long time. There’s a political vacuum.”

Another Tory MP, a member of the government, said: “Liz has a pretty quick choice to make: either she bullets her chancellor and changes course or she could lose her premiership within a month.

“She will struggle to get any legislation through parliament unless she changes course because we won’t vote for it. We won’t ever get to vote on this package because the markets will destroy it first.”

https://www.ft.com/content/a46e53bb-...e-05f71d2e57ef

[Dave42]

Bank of England launches bond-buying programme to prevent 'material risk' to UK financial stability

https://news.sky.com/story/bank-of-e...panic-12706827

so basically the BOE trying to save the country from it own government

[jfman]

I genuinely didn’t think this year could get any funnier than Boris being kicked out by his own backbenchers. But the Tories implosion from here very well could top that.