It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
Full expensing is a big policy IMO, probably the biggest hurdle for growth removed. If only they'd been brave enough to fix all of the idiotic marginal rates and tapers. I actually think bringing the 45p rate in at £80k but no tapers for child benefits, allowance withdrawal and the rest of it would be preferable and people would go for it.
It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
Full expensing is a big policy IMO, probably the biggest hurdle for growth removed. If only they'd been brave enough to fix all of the idiotic marginal rates and tapers. I actually think bringing the 45p rate in at £80k but no tapers for child benefits, allowance withdrawal and the rest of it would be preferable and people would go for it.
Full expensing of capex would soften any blow to 25% corp tax tbh.
I'm normally pretty cool on government giving out massive sweeties - because ir's not a giveaway, it's a redistribution, and though there are strong cases for redistribution, redistribution does not tend to make us, collectively, richer. But if the government does go ahead with the proposed 30 hours free childcare for 1 and 2 year olds (extending fron what 3 year olds currently get) it will be the best public spending commitment of my lifetime (the special and conplex case of furlough aside). I won't personally be affected - I'm through that stage now. But the cost of childcare - along with the cost of housing - effectively makes raising the next generation almost unafforable apart from the very rich or very poor. I am massively supportive of this. If they can now go on and announce a massive programme of housebuilding (essential) and investment in transport infrastructure (personal hobbyhorse) then I can maybe be convinced that the state can be a force for good.
I'm normally pretty cool on government giving out massive sweeties - because ir's not a giveaway, it's a redistribution, and though there are strong cases for redistribution, redistribution does not tend to make us, collectively, richer. But if the government does go ahead with the proposed 30 hours free childcare for 1 and 2 year olds (extending fron what 3 year olds currently get) it will be the best public spending commitment of my lifetime (the special and conplex case of furlough aside). I won't personally be affected - I'm through that stage now. But the cost of childcare - along with the cost of housing - effectively makes raising the next generation almost unafforable apart from the very rich or very poor. I am massively supportive of this. If they can now go on and announce a massive programme of housebuilding (essential) and investment in transport infrastructure (personal hobbyhorse) then I can maybe be convinced that the state can be a force for good.
I think the spectacularly high expense of HS2 was laid bare on the radio this morning with the 76 - 100 billion odd it's now going to cost (And the rest) juxtaposed against the 3 billion odd this childcare is going to cost p.a.
I know one is capex and the other is ongoing cost - but still !
It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
Full expensing is a big policy IMO, probably the biggest hurdle for growth removed. If only they'd been brave enough to fix all of the idiotic marginal rates and tapers. I actually think bringing the 45p rate in at £80k but no tapers for child benefits, allowance withdrawal and the rest of it would be preferable and people would go for it.
Full expensing of capex would soften any blow to 25% corp tax tbh.
It's the global direction of travel too - narrow the base and increase the headline (or maintain the headline at around 25%).
The issue will be for low margin capital intensive businesses (most of these kind of businesses are low margin or indeed loss making in early years), who will just generate losses to carry forward and/or disclaim capital allowances. This is where the super element of a superdeduction makes a difference because it is then better to spend the money even with no immediate cash tax benefit than to sweat the assets. A cash repayable element of the full expensing would also make a difference but that's unlikely as too expensive, despite it already being part of the R&D regime.
It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
Full expensing is a big policy IMO, probably the biggest hurdle for growth removed. If only they'd been brave enough to fix all of the idiotic marginal rates and tapers. I actually think bringing the 45p rate in at £80k but no tapers for child benefits, allowance withdrawal and the rest of it would be preferable and people would go for it.
I'd just about take that.
Worth noting that due to inflation £100k today is what £85k was in 2019, just before Covid - so fiscal drag will make this threshold catchup with a lot more people rather quickly.
I'm normally pretty cool on government giving out massive sweeties - because ir's not a giveaway, it's a redistribution, and though there are strong cases for redistribution, redistribution does not tend to make us, collectively, richer. But if the government does go ahead with the proposed 30 hours free childcare for 1 and 2 year olds (extending fron what 3 year olds currently get) it will be the best public spending commitment of my lifetime (the special and conplex case of furlough aside). I won't personally be affected - I'm through that stage now. But the cost of childcare - along with the cost of housing - effectively makes raising the next generation almost unafforable apart from the very rich or very poor. I am massively supportive of this. If they can now go on and announce a massive programme of housebuilding (essential) and investment in transport infrastructure (personal hobbyhorse) then I can maybe be convinced that the state can be a force for good.
I think the spectacularly high expense of HS2 was laid bare on the radio this morning with the 76 - 100 billion odd it's now going to cost (And the rest) juxtaposed against the 3 billion odd this childcare is going to cost p.a.
I know one is capex and the other is ongoing cost - but still !
Yes, but infrastructure projects like this are typically considered over a period of 60 years or thereabouts. 3 billion a year over 60 years is 180 billion, even before you start to factor in inflation.
The memory of Caitlín Máire Buadhnait **** (1938 - 2021) will never fade as long as her horrendously misanthropic cognomina are honoured on pb.com. RIP.
Steady as she goes. The budget may move things in the government's favour, they usually do unless they're omnishambolic or delivered by Kwazi Kwarteng.
I can't see anything significantly shifting things in the next couple of months unless we are dealt a surprise like a new sleaze story. The next big poll mover probably the local elections which sometimes give a short term boost to the smaller parties.
I'm normally pretty cool on government giving out massive sweeties - because ir's not a giveaway, it's a redistribution, and though there are strong cases for redistribution, redistribution does not tend to make us, collectively, richer. But if the government does go ahead with the proposed 30 hours free childcare for 1 and 2 year olds (extending fron what 3 year olds currently get) it will be the best public spending commitment of my lifetime (the special and conplex case of furlough aside). I won't personally be affected - I'm through that stage now. But the cost of childcare - along with the cost of housing - effectively makes raising the next generation almost unafforable apart from the very rich or very poor. I am massively supportive of this. If they can now go on and announce a massive programme of housebuilding (essential) and investment in transport infrastructure (personal hobbyhorse) then I can maybe be convinced that the state can be a force for good.
So the '30 hours child care' is secretly an in indirect house price subsidy‽‽‽‽‽‽‽‽
On topic! 😌 Betting Post 🐎 Cheltenham Day Two. There’s no pause or let up in festival racing 🥳
For horse racing fans, it was a great first day, lots of fascinating contests in front a raucous crowd, lots of emotional back stories to winners. It was largely win too for punters over bookies. The crowd got what they wanted.
Of my four tips, one win two seconds, though those seconds didn’t count for me as I do win bets. And what left me flat as a flat ironed pancake, was Maries Rock and Love Envoi both beaten in the Mares😭
Love Envoi nothing left to give in the final yards after doing all the work. Not fair! I was a proper moody mare myself.
Constitution Hill stole the show on Day 1. Sure you can say it’s the beastly gears at the end of race, rivals can’t match. It’s more than that for me, have you ever seen a horse more relaxed and focussed in the endless parade in front hordes of over excited humans and everything else going on before the race? They said Hilly works eats and sleeps. Being completely unflappable in personality type builds the foundation for the performance, do you see what I mean? A beautiful horse too, you just want to hug and give it lots of kisses. And was expertly piloted. As the consummate professional package, you just want to trust your money on it. Stodge called it right in Mondays header, it was like a graduation day. Keys to the door moment.
My Win tips for Day 2
Good Land for Ballymore Novices’ Hurdle (1.30) Geri Colombe to land novice chase handicap (2.10) Edwardstone is the best 2m chaser, is over a bruised foot, and nothing will go wrong here in Queen Mum (3.30) Elixir De Nutz (4:50)
If you want an e/w tip Red Risk has fought valiantly for first and second last two races and currently on double carpet.
And a chance to check form of my Grand National tip DeltaWork, in the Cross Country. If you are unfamiliar with todays big Steeplechase, it is just about 4 miles, 32 unique obstacles with great names, including banks, drops, water. Commentary you couldn’t make up and do it justice, but I’ll try. “So as we move away from the Jolly Rancher, it’s Mywifeknowseverything as we approach the Duck Pond… Slack Sally has gone down there at the Kissing Gate…as we make our way on to Mrs Miggins Flower Garden, Sotallytober from The Geespot”
Good luck!
Surprised you did not go for Snow Leopardess in the 4:10 , was that not one of your favourites.
❤️ Snow Leopardess. But form this season not great. And I think Delta Work wins todays cross country.
As expected - both Savanta and Redfield looked like outliers last month, and both have shifted towards the consensus position. Savanta usually has the Tories higher than the others - is there a known methodological reason (like Opinium's assumed swingback)?
As expected - both Savanta and Redfield looked like outliers last month, and both have shifted towards the consensus position. Savanta usually has the Tories higher than the others - is there a known methodological reason (like Opinium's assumed swingback)?
Our dearly departed friend from Sweden cast aspirations last week on some of these pollsters background in political polling, looking at who the firms actually are and conduct polls for. Rather like in the US, what is actually known about some of them producing polls, and who are paying them for the poll. We have better regulation here in UK though is the answer.
However, what they do have in the states we don’t seem to do much here, is universities polling? Surely a win win if it gives students hands on how to do strong polling by the book within all the legislation - we get reliable polls possibly with large number participants, or even more seat polling would be great for us - students get to learn things?
It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
A very leaky budget. Rabbits don't seem to be able to tolerate hats these days.
It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
A very leaky budget. Rabbits don't seem to be able to tolerate hats these days.
The odd thing was there were very few leaks until a couple of days ago. Then everything got briefed all at once.
There will always be some sort of rabbit but I'm not getting my hopes up. The big short term giveaways will come this autumn or next spring ahead of the election.
One thing I've noticed in the last few days is that the UK's market risk premium has fallen, if Truss and Kwasi had brazened it out I think UK debt would priced with a significant risk premium compared to today.
While these things go unnoticed by 99% of people the real world impact will be lower taxes over the same period as we have lesser debt servicing costs and less borrowing overall because of a better outlook.
Market confidence has definitely returned to the UK and I have to say the swift manner in which the government dealt with SVB without needing state intervention has, been noticed by businesses and banks globally. Already this week we've had a couple of UK based companies who have their VC money in the US looking at bringing the bulk of it to the UK.
Companies will feel confident parking their cash here and that's worth billions to the economy that isn't easily measured.
It seems that the vast majority of measures have now been briefed/leaked - largely through the Murdoch press which seems to be the stenographer of choice for Hunt and Sunak.
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
A very leaky budget. Rabbits don't seem to be able to tolerate hats these days.
This rabbit would dump in this chancellors hat. 😈
A budget day is day of spin from government party. it’s what the Chancellor won’t mention.
QE under the conservatives went on too long.
UK with £2.5 trillion of debt which we didn’t have 10 years ago, and interest rates all over the world are jumping from 0.1% to 5%. Pay back time is just beginning - we have to start finding £125 billion a year to cover the cost of our debt. That’s £5,000 per household.
Tax, gilts, inflation, borrowing likely to remain high for years to come.
The extent incomes have been eroded during this term of Tory government, so he pulls a rabbit from the hat exactly how he will fix that. Only poo in this fag end governments hat.
OBR says inflation will fall from 10.7 to 2.9% this year
That is huge and shows why the government is resisting high pay awards
Quite the contrary. It's in line with global expectations and shows why the government should be safe to award high pay rises without risk.
Inflation falling doesn't mean prices fall. It means they get even higher than now, but just at a slower rate. Not paying properly just locks in a real terms pay cut.
Yes I suspect we will see a cut in basic rate IT to 18% announced in Spring Budget 2024. Also a cut to higher rate IT to 38%. Not sure we will see the post £100,000pa mess sorted out.
Yes I suspect we will see a cut in basic rate IT to 18% announced in Spring Budget 2024. Also a cut to higher rate IT to 38%. Not sure we will see the post £100,000pa mess sorted out.
Is there an election late next year?
Wrong priority if that happens.
We should cut National Insurance and sort out the NYC Skyline mess of thresholds we have currently.
Yes I suspect we will see a cut in basic rate IT to 18% announced in Spring Budget 2024. Also a cut to higher rate IT to 38%. Not sure we will see the post £100,000pa mess sorted out.
Good priority, but potholes seem to vary dramatically from county to county.
Where I live its not really a problem thankfully, but I recently had to drive to Blackburn and my goodness the roads are absolutely awful there. I would absolutely consider that a reason not to invest there.
Good priority, but potholes seem to vary dramatically from county to county.
Where I live its not really a problem thankfully, but I recently had to drive to Blackburn and my goodness the roads are absolutely awful there. I would absolutely consider that a reason not to invest there.
Pre-payment meters to be made comparable to Direct Debit charges.
Damn right, so it should be. Nobody should be penalised for having already paid for their fuel before they use it!
Quite. There was some economic sense to it back when having a pre-payment meter meant the utility had to send an actual human being out to collect the cash from the meter but in the modern era of pre-payment cards charging more to pre-payment meter users is just an undefensible tax on the poor & less credit-worthy.
Good priority, but potholes seem to vary dramatically from county to county.
Where I live its not really a problem thankfully, but I recently had to drive to Blackburn and my goodness the roads are absolutely awful there. I would absolutely consider that a reason not to invest there.
One thing I've noticed in the last few days is that the UK's market risk premium has fallen, if Truss and Kwasi had brazened it out I think UK debt would priced with a significant risk premium compared to today.
While these things go unnoticed by 99% of people the real world impact will be lower taxes over the same period as we have lesser debt servicing costs and less borrowing overall because of a better outlook.
Market confidence has definitely returned to the UK and I have to say the swift manner in which the government dealt with SVB without needing state intervention has, been noticed by businesses and banks globally. Already this week we've had a couple of UK based companies who have their VC money in the US looking at bringing the bulk of it to the UK.
Companies will feel confident parking their cash here and that's worth billions to the economy that isn't easily measured.
Bear in mind the energy policy is nothing like as expensive as it was thought it might be. And guaranteed for two years? So in hindsight the plans might have been plausible. However you have to get a budget right at the moment it's announced and they didn't.
Yes I suspect we will see a cut in basic rate IT to 18% announced in Spring Budget 2024. Also a cut to higher rate IT to 38%. Not sure we will see the post £100,000pa mess sorted out.
Is there an election late next year?
I think he said there is almost £40bn headroom!
Um. Wasn’t that headroom predicated on the raising of fuel duties which Hunt has now said he won’t do?
I guess the increase in fuel prices has led to greater VAT receipts from fuel sales which componsate for the loss of fuel duties, but if fuel prices drop again (which they could well do) then those VAT receipts will disappear too.
For the North East it should be based around Newcastle. It will probably be Teesside.
There was one created by Osborne for Cardiff. After a decade we ended up with the BBC, HMRC and a few local businesses relocating. One of the reasons I'm so hard on George.
Was stood next to Martin Degville's mum. She was very proud....
I remember they were a huge phenomenon at the time. I was on one my first jobs at the BBC at the time, and all this eighties' electro-pop music was blowing through somehere next door.
For the North East it should be based around Newcastle. It will probably be Teesside.
There was one created by Osborne for Cardiff. After a decade we ended up with the BBC, HMRC and a few local businesses relocating. One of the reasons I'm so hard on George.
To be fair, BBC Wales seems to have been a real asset to the area and Dr Who, as well as other shows made there, have really been a plus.
In the North East all we had was George Gently, eventually, the first few series were made in Ireland and Vera !!!
Credit Suisse share trading suspended, sparking carnage in banking market across Europe as SVB fallout spreads
Shares in the Swiss bank collapse by 23 per cent, with other big banks hit as fallout from SVB collapse spreads
Major European banks saw billions wiped off their share prices today as fears over the safety of their balance sheets swept the market.
At one point, five big European banks saw trading in their shares temporarily halted following big falls in their share prices as the fallout from the collapse of Silicon Valley Bank continued to spread.
OBR says inflation will fall from 10.7 to 2.9% this year
That is huge and shows why the government is resisting high pay awards
Not really. If the energy price increase were a temporary shock, you would expect inflation to turn negative. Instead, prices will have headed even higher, just at a rate of increase closer to what we had got used to in days gone by.
The acid test is whether in 12 months time people will be any better off financially than they are now. I think the answer will by and large be no, meaning that the biggest cut in living standards in living memory will have been baked in for the long term.
Bloody hell, £2.5bn for quantum investment, that's actually a decent number for once. I think Hunt has finally understood that we need scale in the UK. There doesn't seem to be any half measures here either.
Credit Suisse share trading suspended, sparking carnage in banking market across Europe as SVB fallout spreads
Shares in the Swiss bank collapse by 23 per cent, with other big banks hit as fallout from SVB collapse spreads
Major European banks saw billions wiped off their share prices today as fears over the safety of their balance sheets swept the market.
At one point, five big European banks saw trading in their shares temporarily halted following big falls in their share prices as the fallout from the collapse of Silicon Valley Bank continued to spread.
The 2023 Budget – open thread – politicalbetting.com
Comments
Just had a catch up with someone on the inside who wasn't expecting any major surprises - though with the caution that they don't always know what the COE has in the back pocket. It seems a lot of things have been pared back in recent weeks as too difficult.
The big business story over the next few days will be full expensing of capex, and the investment zones. To what extent will that actually influence behaviour.
Money for our sprogs childcare
When do we want it !
Hopefully soon.
But if the government does go ahead with the proposed 30 hours free childcare for 1 and 2 year olds (extending fron what 3 year olds currently get) it will be the best public spending commitment of my lifetime (the special and conplex case of furlough aside).
I won't personally be affected - I'm through that stage now. But the cost of childcare - along with the cost of housing - effectively makes raising the next generation almost unafforable apart from the very rich or very poor.
I am massively supportive of this.
If they can now go on and announce a massive programme of housebuilding (essential) and investment in transport infrastructure (personal hobbyhorse) then I can maybe be convinced that the state can be a force for good.
@BritainElects
·
28m
Westminster voting intention:
LAB: 45% (+2)
CON: 30% (-2)
LDEM: 9% (-)
REF: 5% (-)
GRN: 3% (-)
via
@Savanta_UK
, 10 - 12 Mar"
I know one is capex and the other is ongoing cost - but still !
The issue will be for low margin capital intensive businesses (most of these kind of businesses are low margin or indeed loss making in early years), who will just generate losses to carry forward and/or disclaim capital allowances. This is where the super element of a superdeduction makes a difference because it is then better to spend the money even with no immediate cash tax benefit than to sweat the assets. A cash repayable element of the full expensing would also make a difference but that's unlikely as too expensive, despite it already being part of the R&D regime.
Worth noting that due to inflation £100k today is what £85k was in 2019, just before Covid - so fiscal drag will make this threshold catchup with a lot more people rather quickly.
I'm still in favour of it mind you.
I can't see anything significantly shifting things in the next couple of months unless we are dealt a surprise like a new sleaze story. The next big poll mover probably the local elections which sometimes give a short term boost to the smaller parties.
From disastrous to merely bad. Will the unwind continue?
So the Conservatives may even gain some council seats from the LDs and Independents even if they lose seats to Labour
However, what they do have in the states we don’t seem to do much here, is universities polling? Surely a win win if it gives students hands on how to do strong polling by the book within all the legislation - we get reliable polls possibly with large number participants, or even more seat polling would be great for us - students get to learn things?
There will always be some sort of rabbit but I'm not getting my hopes up. The big short term giveaways will come this autumn or next spring ahead of the election.
While these things go unnoticed by 99% of people the real world impact will be lower taxes over the same period as we have lesser debt servicing costs and less borrowing overall because of a better outlook.
Market confidence has definitely returned to the UK and I have to say the swift manner in which the government dealt with SVB without needing state intervention has, been noticed by businesses and banks globally. Already this week we've had a couple of UK based companies who have their VC money in the US looking at bringing the bulk of it to the UK.
Companies will feel confident parking their cash here and that's worth billions to the economy that isn't easily measured.
A budget day is day of spin from government party. it’s what the Chancellor won’t mention.
QE under the conservatives went on too long.
UK with £2.5 trillion of debt which we didn’t have 10 years ago, and interest rates all over the world are jumping from 0.1% to 5%. Pay back time is just beginning - we have to start finding £125 billion a year to cover the cost of our debt. That’s £5,000 per household.
Tax, gilts, inflation, borrowing likely to remain high for years to come.
The extent incomes have been eroded during this term of Tory government, so he pulls a rabbit from the hat exactly how he will fix that. Only poo in this fag end governments hat.
That is huge and shows why the government is resisting high pay awards
Inflation is bad, but inflation that only affects some but not others is worse.
Inflation falling doesn't mean prices fall. It means they get even higher than now, but just at a slower rate. Not paying properly just locks in a real terms pay cut.
Damn right, so it should be. Nobody should be penalised for having already paid for their fuel before they use it!
Is there an election late next year?
We should cut National Insurance and sort out the NYC Skyline mess of thresholds we have currently.
Do these ever work ?
How will this differ from Freeports ?
For the North East it should be based around Newcastle. It will probably be Teesside.
Where I live its not really a problem thankfully, but I recently had to drive to Blackburn and my goodness the roads are absolutely awful there. I would absolutely consider that a reason not to invest there.
Who writes his scripts !!!!
I honestly didn't think he would do it.
Jeremy Hunt has gone from Ebenezer Scrooge to Ebenezer Goode.
https://www.google.com/search?q=jeremy+hunt+1980s&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjYt5GE_939AhUCRsAKHY_ICLEQ_AUoAXoECAEQAw#imgrc=qp1njybCPt3UDM
Even then, the LibDems will have a picture of a pointing councillor taking the credit for filling it!
I guess the increase in fuel prices has led to greater VAT receipts from fuel sales which componsate for the loss of fuel duties, but if fuel prices drop again (which they could well do) then those VAT receipts will disappear too.
Was stood next to Martin Degville's mum. She was very proud....
Fucking joke.
In the North East all we had was George Gently, eventually, the first few series were made in Ireland and Vera !!!
Credit Suisse share trading suspended, sparking carnage in banking market across Europe as SVB fallout spreads
Shares in the Swiss bank collapse by 23 per cent, with other big banks hit as fallout from SVB collapse spreads
Major European banks saw billions wiped off their share prices today as fears over the safety of their balance sheets swept the market.
At one point, five big European banks saw trading in their shares temporarily halted following big falls in their share prices as the fallout from the collapse of Silicon Valley Bank continued to spread.
https://inews.co.uk/inews-lifestyle/money/credit-suisse-share-trading-suspended-sparking-carnage-in-banking-market-across-europe-2210147
The acid test is whether in 12 months time people will be any better off financially than they are now. I think the answer will by and large be no, meaning that the biggest cut in living standards in living memory will have been baked in for the long term.
Or is it only paying those who work for a living that's being cut in real terms?