Jeremy Hunt is poised to announce that the energy price guarantee will only remain universal *until April*
It will then become targeted and capped
Govt helped by falling gas prices
@MrHarryCole first highlighted changes this morning
That's curtains for Truss, and probably the Tories for a generation (a real one, not a Scottish one). Good luck telling middle and high earners they have to pay higher taxes to subsidise other people's energy bills while their own go through the roof.
It is the right thing to do and let's give @MoonRabbit the credit for criticising the universal nature of the energy relief
They have little more than a big grenade as payload, and seem to be designed to waste Ukranian air defence capability shooting them down, as opposed to actually destroying much in the way of infrastructure on the ground.
I have not seen anyone mention that Truss will resign as both PM and an MP. Surely she will go?
If her govt fears losing an election, what hope would she have in one? Also would you stay surrounded by people who, after a month in the job, told you that you were so useless and incompetent that you had to go?
I do not know what she will do now. I cannot see anyone ever employing her for anything, certainly not in the UK.
Like all former pms she will be paid 100 grand a time for boring dull speeches
Who would attend her speech? She is wooden, poor delivery and does not seem to be able to think on her feet.
I suppose if she picked a catchy title for her talk, she might drum up some interest... "How I gave incompetence a bad name" perhaps?
Explains why Israel may now be forced to pick a side.
Russia attacks Kyiv with a swarm of Iranian kamikaze drones, some of which manage to get through air defenses and hit the city center. Iran developing and perfecting with Russia a weapons system that could be used against Tel Aviv, Riyadh or Abu Dhabi. https://twitter.com/yarotrof/status/1581878818260029440
Reports are though that only a fraction of the drones launched hit their targets.
Oh no, not diplomatic ties between Russia and Israel!
In other news, Iran supplying drones to Russia, brings Ukraine one step closer to getting the US/Israeli “Iron Dome” defence system, that’s proved diplomatically difficult until now.
Explains why Israel may now be forced to pick a side.
Russia attacks Kyiv with a swarm of Iranian kamikaze drones, some of which manage to get through air defenses and hit the city center. Iran developing and perfecting with Russia a weapons system that could be used against Tel Aviv, Riyadh or Abu Dhabi. https://twitter.com/yarotrof/status/1581878818260029440
Reports are though that only a fraction of the drones launched hit their targets.
The downside is that unless they're shot down by small arms fire, the missiles to knock them down cost more than the drones. They are intended to swamp air defences through sheer weight of numbers as much as anything. Fortunately Russia doesn't yet appear to have very large numbers of them.
The latest Perun video I linked to below goes into this in great detail. Basically: AA guns are going to come back in western thinking, but as part of a combined system with missiles. (I think he said this is current Soviet/Russian thinking, which is why they have gun systems?)
They will - but the problem is that AA guns can only cover a relatively small area, so you would need quite a large number of them. The drones are pretty small and fly at low altitude, so hard to track on radar, and have a range in the order of 1000km I think. Unless you have a modern integrated air defense system, not a simple problem.
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
The Iranian drones are basic and easy to shoot down. But the anti air missile will cost far far more than the flying kamikaze washing machine
The solution is probably some form of very cheap drone tasked with launching and intercepting. Like a V1 used to be able to be taken out by "wing tipping" then something similar would probably work on these.
There used to be a map on the wall in most Kent Shepherd Neame pubs, taken from a feature in the Kent Messenger I believe, that had a black dot for every V1 and V2 that fell in the county. There were…a lot.
I believe one of the lesser-known "facts" about the war was that we were able to interfere with the control system of German guided missiles, thereby ensuring that they fell on less populated areas. However we didn't wish to advertise our ability to interfere with the system too much, so just diverted the missiles some 10 or 15 miles south of their intended targets. So Kent and part of Surrey got quite a lot of missiles that Hitler and his team had intended for London!
We also reported that those missiles HAD actually hit London, so the Germans weren't aware.
Yep - that was genius, getting the double agents to report that those that had hit London had overshot, and those that had fallen short had hit London, and switching around the photos and damage reports to evidence the false picture
“When the army had elected Philip, who was Prætorian præfect to the third Gordian, the latter demanded that he might remain sole emperor; he was unable to obtain it. He requested that the power might be equally divided between them; the army would not listen to his speech. He consented to be degraded to the rank of Cæsar; the favor was refused him. He desired, at least, he might be appointed Prætorian præfect; his prayer was rejected. Finally, he pleaded for his life. The army, in these several judgments, exercised the supreme magistracy.”
According to the historian, whose doubtful narrative the President De Montesquieu has adopted, Philip, who, during the whole transaction, had preserved a sullen silence, was inclined to spare the innocent life of his benefactor; till, recollecting that his innocence might excite a dangerous compassion in the Roman world, he commanded, without regard to his suppliant cries, that he should be seized, stripped, and led away to instant death. After a moment’s pause, the inhuman sentence was executed."
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
That would be a relief to everyone and the right thing to do
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
That would be a relief to everyone and the right thing to do
More to the point, it's the one move guaranteed to lift the markets
Jeremy Hunt is poised to announce that the energy price guarantee will only remain universal *until April*
It will then become targeted and capped
Govt helped by falling gas prices
@MrHarryCole first highlighted changes this morning
That's curtains for Truss, and probably the Tories for a generation (a real one, not a Scottish one). Good luck telling middle and high earners they have to pay higher taxes to subsidise other people's energy bills while their own go through the roof.
It is the right thing to do and let's give @MoonRabbit the credit for criticising the universal nature of the energy relief
The universal nature was owing to its being an emergency response, and anything else might take too much time to design. It's not a particularly good critique, as if you're giving too much away to the well off it could be recovered through tax - and the entire thing was due for review in the spring in any event.
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
That would be a relief to everyone and the right thing to do
More to the point, it's the one move guaranteed to lift the markets
Depends. Wouldn't a new PM want their own chancellor and not current dry technocrat Hunt ? This isn't just Rishinomics being implemented, it's actually going beyond that imv.
Could the Redfield & Wilton poll tonight give labour a 40% lead?
It could, but there should be no expectation that it will. It is quite bad enough at current polling averages and any move up or down that leaves us with the same result plus or minus 50 seats is essentially MOE.
Jeremy Hunt is poised to announce that the energy price guarantee will only remain universal *until April*
It will then become targeted and capped
Govt helped by falling gas prices
@MrHarryCole first highlighted changes this morning
That's curtains for Truss, and probably the Tories for a generation (a real one, not a Scottish one). Good luck telling middle and high earners they have to pay higher taxes to subsidise other people's energy bills while their own go through the roof.
It is the right thing to do and let's give @MoonRabbit the credit for criticising the universal nature of the energy relief
The universal nature was owing to its being an emergency response, and anything else might take too much time to design. It's not a particularly good critique, as if you're giving too much away to the well off it could be recovered through tax - and the entire thing was due for review in the spring in any event.
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
Including the NI tax rise reversal?
That's the one bit of her programme I care about. Reverse that and she's useless, get that through even if the rest is reversed and I'll still be glad she won. Politically glad, personally of course I'd have been better off if Sunak did, but I disagreed with him politically.
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
That would be a relief to everyone and the right thing to do
More to the point, it's the one move guaranteed to lift the markets
Depends. Wouldn't a new PM want their own chancellor and not current dry technocrat Hunt ? This isn't just Rishinomics being implemented, it's actually going beyond that imv.
Hunt's going nowhere for a while (except possibly upwards)
BREAKING: Jeremy Hunt has taken a wrecking ball to Liz Truss's tax plans.
*Says he will "reverse almost all the tax measures announced in the growth plan" *No longer cut dividend tax *Abandon IR35 changes *Won't cut basic rate of income tax, it remains at 20% indefinitely
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
That would be a relief to everyone and the right thing to do
Right thing to do but opens up a whole different can of worms - because you couldn't have "Antibiotics for all" Coffey as PM for any length of time.
That's fucking massive! Massive! If Nadine Dorries, of all people, is backing Johnson then the political plates have shifted further than the San Andreas fault did when it decided to have a stretch in 1906.
General Boles @GeneralBoles "difficult times call for difficult decisions and as such I have abolished the Department for Education.....kids can learn most things on YouTube anyway these days"
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
That would be a relief to everyone and the right thing to do
Right thing to do but opens up a whole different can of worms - because you couldn't have "Antibiotics for all" Coffey as PM for any length of time.
Hunt now demolishing the entire reason why Truss and not Sunak is Prime Minister. Remember that on Friday at her shitbox presser she said "the mission is the same".
Hunt: "it is not responsible to borrow to pay for tax cuts" and scraps 19p indefinitely. And now bins the energy price guarantee beyond April.
General Boles @GeneralBoles "difficult times call for difficult decisions and as such I have abolished the Department for Education.....kids can learn most things on YouTube anyway these days"
They'll certainly learn more from YouTube or indeed underwater yodelling than they ever would from the continued existence of the Department for Education.
Hunt now demolishing the entire reason why Truss and not Sunak is Prime Minister. Remember that on Friday at her shitbox presser she said "the mission is the same".
Hunt: "it is not responsible to borrow to pay for tax cuts" and scraps 19p indefinitely. And now bins the energy price guarantee beyond April.
Truss is DONE.
19p was Sunak's policy. Actually he wanted to go to 16p.
Truss promised to reverse the NI tax rise. That's still happening/happened. 👍
Kwarteng massively overreached. Neither 2 years of price guarantee, nor cutting 45p, nor cutting to 19p were said during the campaign.
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
How could Truss allow Hunt to announce this if she had any intention of toughing it out? Her political platform has just been eviscerated. There is nothing left of her grand ideas. Not even a "how about if we...."
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
Including the NI tax rise reversal?
That's the one bit of her programme I care about. Reverse that and she's useless, get that through even if the rest is reversed and I'll still be glad she won. Politically glad, personally of course I'd have been better off if Sunak did, but I disagreed with him politically.
NI cut sticks around as well as stamp duty changes.
Hunt now demolishing the entire reason why Truss and not Sunak is Prime Minister. Remember that on Friday at her shitbox presser she said "the mission is the same".
Hunt: "it is not responsible to borrow to pay for tax cuts" and scraps 19p indefinitely. And now bins the energy price guarantee beyond April.
Truss is DONE.
19p was Sunak's policy. Actually he wanted to go to 16p.
Truss promised to reverse the NI tax rise. That's still happening/happened. 👍
Kwarteng massively overreached. Neither 2 years of price guarantee, nor cutting 45p, nor cutting to 19p were said during the campaign.
Yep. Keep backing her and your IEA fuckwittery. Top man.
BREAKING: Jeremy Hunt has taken a wrecking ball to Liz Truss's tax plans.
*Says he will "reverse almost all the tax measures announced in the growth plan" *No longer cut dividend tax *Abandon IR35 changes *Won't cut basic rate of income tax, it remains at 20% indefinitely
Ironically - with the dividend tax kept at 8.75% and corporation tax at 25% it's probably better to be an employee and throw things into the pension pot.
So the mini budget shredded and put into the furnace !
The Tories are crazy if they don’t remove Truss . How on earth can she stay on after being so utterly humiliated ?
Actually has a PM ever moved so far and so fast affter making a majorly poor decision ?
Perhaps Truss is the best person to be PM amongst the current crop because she doesn't give a shit whether she's humiliated or not. She's done the right thing (Even if the medicine is rough) by subcontracting her entire fiscal policy to Hunt.
So I assume that as the Chancellor has just scrapped all of the measures which were *critical* to drive growth that he and therefore she are now members of the "anti-growth coalition"?
Hunt now demolishing the entire reason why Truss and not Sunak is Prime Minister. Remember that on Friday at her shitbox presser she said "the mission is the same".
Hunt: "it is not responsible to borrow to pay for tax cuts" and scraps 19p indefinitely. And now bins the energy price guarantee beyond April.
Truss is DONE.
19p was Sunak's policy. Actually he wanted to go to 16p.
Truss promised to reverse the NI tax rise. That's still happening/happened. 👍
Kwarteng massively overreached. Neither 2 years of price guarantee, nor cutting 45p, nor cutting to 19p were said during the campaign.
But at no point did she say "hang on a minute...."
Neither of course did the Cabinet - but they were cut out the loop.
Her Cabinet (excluding maybe Hunt and Wallace, for required continuity) should resign en masse. That would bring this to an end.
Hunt says he is reversing nearly all the tax cuts in the mini budget
Spoke to my aunt yesterday. She was very concerned about Truss becoming PM in the way that she did, and then ignoring the mandate of the 2019 election (not quite her words but that was the gist). She's also very concerned at Hunt being PM in all but name. She's feeling pretty worried about the democratic deficit at the moment and the more Hunt acts like the PM, the more concerned people like her will become.
It really isn't - that leaves big problems funding social care.
And you need to fund social care to keep the NHS going -
lack of social care -> bed blocking -> delayed hospital admissions -> A&E issues -> 6-8 hour wait for ambulances.
It was, however, impossible to reverse the change because it's too late to change things for November 6th.
It doesn't leave any issues funding social care, NI goes into central funding anyway. Just deal with it using central funding, just as it should be.
The idea NI is "ringfenced" is for the birds.
I'm talking about the £5bn or so that the NI increases generated. That money still needs to be found because it's solves a big problem the NHS has in beds being underutilised due to people not being moved into care homes.
So I assume that as the Chancellor has just scrapped all of the measures which were *critical* to drive growth that he and therefore she are now members of the "anti-growth coalition"?
Do we know what has happened to Sunak's Corporation tax investment allowances?
What I do know is that we won't see much growth when it comes to the knowledge economy because well - unless you are willing for me to work from the spare room 100% of the time I'm not working on your short term project...
So the mini budget shredded and put into the furnace !
The Tories are crazy if they don’t remove Truss . How on earth can she stay on after being so utterly humiliated ?
Actually has a PM ever moved so far and so fast affter making a majorly poor decision ?
Perhaps Truss is the best person to be PM amongst the current crop because she doesn't give a shit whether she's humiliated or not. She's done the right thing (Even if the medicine is rough) by subcontracting her entire fiscal policy to Hunt.
How can Truss stand there at PMQs on Wednesday and say she’s in charge ? . It’s the biggest ever humiliation of a PM since the Suez crisis .
It really isn't - that leaves big problems funding social care.
And you need to fund social care to keep the NHS going -
lack of social care -> bed blocking -> delayed hospital admissions -> A&E issues -> 6-8 hour wait for ambulances.
It was, however, impossible to reverse the change because it's too late to change things for November 6th.
It doesn't leave any issues funding social care, NI goes into central funding anyway. Just deal with it using central funding, just as it should be.
The idea NI is "ringfenced" is for the birds.
I'm talking about the £5bn or so that the NI increases generated. That money still needs to be found because it's solves a big problem the NHS has in beds being underutilised due to people not being moved into care homes.
That's an issue for the Treasury, not for Social Care. The £5bn goes to the Treasury, it doesn't go to Care or anyone else. How much the Treasury gives to Social Care is up to the Treasury.
£5bn changes in taxes and spending happen every year, the idea that one tax is linked to one expenditure is malicious nonsense.
Just throwing this out there, but take a step back and we’re surely underpricing a voluntary resignation from Truss? Her leadership programme is about to be deleted live from the Treasury. https://twitter.com/michaelsavage/status/1581949004908097536
That would be a relief to everyone and the right thing to do
There's been no point to her staying in office since she was forced to appoint Hunt anyway.
Comments
They have little more than a big grenade as payload, and seem to be designed to waste Ukranian air defence capability shooting them down, as opposed to actually destroying much in the way of infrastructure on the ground.
I suppose if she picked a catchy title for her talk, she might drum up some interest... "How I gave incompetence a bad name" perhaps?
He's going to be indoors.
He’s still under investigation and the Tories will look deranged if they re-install him as PM.
Long may it continue.
In other news, Iran supplying drones to Russia, brings Ukraine one step closer to getting the US/Israeli “Iron Dome” defence system, that’s proved diplomatically difficult until now.
The drones are pretty small and fly at low altitude, so hard to track on radar, and have a range in the order of 1000km I think. Unless you have a modern integrated air defense system, not a simple problem.
https://twitter.com/michaelsavage/status/1581949004908097536
“When the army had elected Philip, who was Prætorian præfect to the third Gordian, the latter demanded that he might remain sole emperor; he was unable to obtain it. He requested that the power might be equally divided between them; the army would not listen to his speech. He consented to be degraded to the rank of Cæsar; the favor was refused him. He desired, at least, he might be appointed Prætorian præfect; his prayer was rejected. Finally, he pleaded for his life. The army, in these several judgments, exercised the supreme magistracy.”
According to the historian, whose doubtful narrative the President De Montesquieu has adopted, Philip, who, during the whole transaction, had preserved a sullen silence, was inclined to spare the innocent life of his benefactor; till, recollecting that his innocence might excite a dangerous compassion in the Roman world, he commanded, without regard to his suppliant cries, that he should be seized, stripped, and led away to instant death. After a moment’s pause, the inhuman sentence was executed."
It's not a particularly good critique, as if you're giving too much away to the well off it could be recovered through tax - and the entire thing was due for review in the spring in any event.
This isn't just Rishinomics being implemented, it's actually going beyond that imv.
Muppets.
That's the one bit of her programme I care about. Reverse that and she's useless, get that through even if the rest is reversed and I'll still be glad she won. Politically glad, personally of course I'd have been better off if Sunak did, but I disagreed with him politically.
*Says he will "reverse almost all the tax measures announced in the growth plan"
*No longer cut dividend tax
*Abandon IR35 changes
*Won't cut basic rate of income tax, it remains at 20% indefinitely
Almost all tax changes of mini-budget will be dropped
https://twitter.com/GeneralBoles/status/1581950867866939395
General Boles
@GeneralBoles
"difficult times call for difficult decisions and as such I have abolished the Department for Education.....kids can learn most things on YouTube anyway these days"
That was the most important bit.
Hunt: "it is not responsible to borrow to pay for tax cuts" and scraps 19p indefinitely. And now bins the energy price guarantee beyond April.
Truss is DONE.
FFS what a mess.
And you need to fund social care to keep the NHS going -
lack of social care -> bed blocking -> delayed hospital admissions -> A&E issues -> 6-8 hour wait for ambulances.
It was, however, impossible to reverse the change because it's too late to change things for November 6th.
The Tories are crazy if they don’t remove Truss . How on earth can she stay on after being so utterly humiliated ?
Yeah right
Just printing their names, ages and occupations is enough, without giving the morons the oxygen of publicity for their cause.
Truss promised to reverse the NI tax rise. That's still happening/happened. 👍
Kwarteng massively overreached. Neither 2 years of price guarantee, nor cutting 45p, nor cutting to 19p were said during the campaign.
Feels very un-British somehow. Unsteady.
Labour in a bit of a pickle now as they supported the tax cut what they gonna do now
The idea NI is "ringfenced" is for the birds.
This is the worst political humiliation anyone can remember.
Her entire platform totally torn to pieces.
Perhaps Truss is the best person to be PM amongst the current crop because she doesn't give a shit whether she's humiliated or not. She's done the right thing (Even if the medicine is rough) by subcontracting her entire fiscal policy to Hunt.
Neither of course did the Cabinet - but they were cut out the loop.
Her Cabinet (excluding maybe Hunt and Wallace, for required continuity) should resign en masse. That would bring this to an end.
Liz Truss = Admiral Donitz.
The effort to alienate all but the most hardline tribal Conservative supporters has been a joint effort across 12 years and multiple prime ministers.
This might take some time...
I wanted the NI tax rise reversed. Its been reversed. Good.
Truss can resign tomorrow or lose the next election for all I care. She's delivered what I wanted though.
What I do know is that we won't see much growth when it comes to the knowledge economy because well - unless you are willing for me to work from the spare room 100% of the time I'm not working on your short term project...
£5bn changes in taxes and spending happen every year, the idea that one tax is linked to one expenditure is malicious nonsense.