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Lessons from history – politicalbetting.com

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  • MoonRabbitMoonRabbit Posts: 14,073

    George Osborne's Help to Buy scheme set a bomb under the public finances. And it is ready to go off
    If there is a property crash, the former Chancellor's contrivance could saddle the government with liabilities of up to £23 billion

    https://www.telegraph.co.uk/news/2022/10/27/george-osbornes-help-buy-scheme-set-bomb-public-finances-ready/ (£££)

    Sunak and Hunt Mugging the energy companies and banks to fill the black hole, so they can keep benefits up with inflation - anyone think that is a bad idea?
  • mickydroymickydroy Posts: 316

    Kinnock was not ruined by the media. He was a windbag and a bore. Please watch him on HIGNFY and ask yourself how it was that anyone thought that such a pillock could be PM (well prior to Johnson anyway!)
    (Windbag) that was original, all sorts of people become P.M. who are not up to it, Johnson, Truss, Corbyn nearly got there, I would certainly put him above those three
  • Sunak and Hunt Mugging the energy companies and banks to fill the black hole, so they can keep benefits up with inflation - anyone think that is a bad idea?
    What fall in house prices gives rise to a £23bn black hole?
  • algarkirkalgarkirk Posts: 14,012
    dixiedean said:

    They've dropped the classified.
    But the presenter deals with each league in turn. And runs through all the results in a non-systematic way anyway.
    So. You get all the scores. Over an hour. In an unstructured fashion.
    The worst of all possibilities.
    The classified football results - radio and Grandstand, 5 pm - was all about the pools industry, now declined out of sight. The results were read at the speed, in the order, and the tone of voice so that punters could all at the same time check their coupon. real money hung on obscure results. On telly the visuals showed (1,2,X) wehether it was home, away or draw.

    Like most lost things the pools world is chronicled in Philip Larkin, Mr Bleaney in this case, who 'kept on plugging at the four aways'.

    But it was addictive for non punters too.

  • mickydroy said:

    (Windbag) that was original, all sorts of people become P.M. who are not up to it, Johnson, Truss, Corbyn nearly got there, I would certainly put him above those three
    It is a low bar. You have just proved my point. He was shit.
  • StuartDicksonStuartDickson Posts: 12,146

    That flurry of Tory Unionists lauding Labour as the last, great hope for the Union didn’t last long.
    During the last 10 years, whenever I have described Labour as “the final bastion of the Union” it has sent Mini Franco on a furious rant about how insignificant SLab are and how mighty the SCon battleship is. Then, as soon as the SCon showed signs of being in the 10% zone and SLab nudging the high 20s, he entirely switched into yabooing about how fantastic the Sarwar team is.

    BritNats are nothing if not inconsistent.
  • Luckyguy1983Luckyguy1983 Posts: 30,838
    mwadams said:

    Never reveal your search results. People might discover that Bing thinks you are Matt Hancock curious.


    Even in today's tolerant society, there are some unacceptable perversions.
  • MoonRabbitMoonRabbit Posts: 14,073

    Yes and it was quite possibly bollocks. I used to get repeated ads for farming resources despite not owning a farm and having no internet nor search history in farming. If you think automatic advertising is accurate you are much more credulous than I thought.

    What were they charging for lick blocks, do you remember?
  • DriverDriver Posts: 5,560

    Will that apply to alcoholic males with Brewer's Droop?
    Only ones who get intimidated by the dirty pigeons.
  • Casino_RoyaleCasino_Royale Posts: 62,338
    felix said:

    Just to add - now live in a new ultra modern house with pool about 10 miles from the coast with fantastic views which took a year to build and cost 250k - in much of the UK it would be 4/5/6 times as much. In California millions!
    Steady, some of us have to work another 20-25 years before we can do that!
  • LostPasswordLostPassword Posts: 19,161


    Paul Waugh
    @paulwaugh
    ·
    1h
    I know it's a low bar, but this is a refreshing change from his 2 predecessors.
    'Sunak isn’t currently planning to head to Chequers for his first weekend as prime minister and is expected to work from Downing Street.'

    Is that good?

    Everyone needs some time off and a chance to reflect, and there's no reason that Sunak can't take some work with him to Chequers anyway.

    It does show that Sunak is anxious to present a certain image to the public. It demonstrates a particular political awareness.
  • NigelbNigelb Posts: 76,751
    edited October 2022
    Andy_JS said:

    Exchange on twitter:

    "Matt Goodwin
    @GoodwinMJ
    Can any sensible US journalists out there tell me what happened to US media? Do journos not visit countries they write about anymore? Do they not read evidence? How can so many apparently serious journalists like this, at NYT etc think this? What has happened to the media class?

    Andrew Sullivan
    @sullydish
    Replying to
    @GoodwinMJ Matt, you have no idea how bad it is. Total capture by far-left. Almost all op-eds from tiny fringe of UK leftists. Reporting always skewed to prove Brexit was wrong. The bubble is tight af.
    3:54 PM · Oct 27, 2022
    ·Twitter Web App"

    https://twitter.com/sullydish/status/1585646144855871490

    Good question, though the answer is not quite what Sullivan imagines.

    For example, NYT yesterday:

    Breaking News: The U.S. economy grew 0.6% in the third quarter, a 2.6% annual rate, a rebound, but not enough to ease worries about a recession.
    https://twitter.com/nytimes/status/1585612820196069381

    FT yesterday:
    Breaking news: The US economy rebounded in the third quarter, as GDP increased by 2.6% on an annualised basis between July and September, surpassing economists’ expectations
    https://twitter.com/FinancialTimes/status/1585615103730262023

    The NYT has plenty of op-eds which push daft Republican memes, too.
    Which somehow Sullivan doesn't notice.
    Note "US Media" includes Fox news.... "Total capture by far-left" is absurd nonsense from Sullivan.

    And FWIW, the balance of UK public opinion actually is that Brexit was a mistake.

    Note also Sullivan was given airtime on the BBC this morning to peddle his line in highbrow right wing paranoia.
  • PulpstarPulpstar Posts: 79,235
    edited October 2022

    What fall in house prices gives rise to a £23bn black hole?


    You need at least 5% of the sale price of your new-build flat or house as a deposit.
    The government lends you up to 20% (or 40% if you live in London) of the sale price up to the regional limits.
    You borrow the rest (up to 75%, or 55% if you live in London) from a mortgage lender, on a repayment basis.
    The equity loan is interest-free for five years.
    From year 6, you’ll be charged 1.75% which will increase by the Consumer Price Index (CPI) plus 2% (1% if you took the equity loan before December 2019).
    The equity loan must be repaid after 25 years, or earlier if you sell your home.
    You must repay the same percentage of the proceeds of the sale as the initial equity loan. So, if you received an equity loan for 20% of the purchase price of your home, you must repay 20% of the proceeds of the future sale.
    That means if the market value of your home rises, so does the amount you owe on your equity loan. If the value of your home falls, the amount you owe on your equity loan falls too.

    There's certainly a bomb heading for those who took out help to buy from 2024 onward if CPI doesn't fall.

    It'd have to be a big fall for the Gov't to lose out though.

    Sold as "help" - it could yet all end in tears though.
  • CarnyxCarnyx Posts: 44,620
    HYUFD said:

    Only because the SNP are the only main Nationalist party in Scotland.

    If the SC rules against indyref2 without UK government support and Sturgeon continues to rule out UDI then Salmond will likely stand Alba candidates in SNP Westminster seats at the next general election. At last we will get that split in the Nationalist vote under FPTP Unionists need
    "only main nationalist party"

    Scottish Greens too! Neck and neck for third party at Holyrood (depending how badly the Tories and SLD are doing.

  • kinabalukinabalu Posts: 44,812
    edited October 2022
    mickydroy said:

    (Windbag) that was original, all sorts of people become P.M. who are not up to it, Johnson, Truss, Corbyn nearly got there, I would certainly put him above those three
    I agree. Kinnock had many qualities. Really good orator for one thing - which is quite rare. Also a strong and capable party leader, as shown by his purging of the Militant Tendency. That was no easy task. I think he deserved to be PM - which you can't say about some of them, esp in recent times.
  • MoonRabbitMoonRabbit Posts: 14,073

    What fall in house prices gives rise to a £23bn black hole?
    I’m not sure what you saying there? There hasn’t been a fall in house prices?

    Are you saying there was No talk of fiscal black hole all year, all summer, all Tory campaign. No talk of austerity, tax rises from Sunak till he replaced Truss? Yet there is zero evidence all the fiscal black hole was caused by Liz Truss government?

    There is some truth in that. Where did this black hole come from? The mini budget didn’t see one. Sunak campaigning all summer didn’t see one. And Truss didn’t create this black hole.
  • Ishmael_ZIshmael_Z Posts: 8,981

    This had passed me by (though not the sad story): sentencing is allowed to be viewed live on camera. Do PB's lawyers see this as a good or bad thing?

    https://www.bbc.co.uk/news/live/uk-63424794

    Whatever.

    But publishing the bodycam footage of her arrest is pure porn with no purpose whatsoever (except to deter us from decapitating our mates?)
  • FoxyFoxy Posts: 51,269

    Is that good?

    Everyone needs some time off and a chance to reflect, and there's no reason that Sunak can't take some work with him to Chequers anyway.

    It does show that Sunak is anxious to present a certain image to the public. It demonstrates a particular political awareness.
    He only uses Downing St as an office.

    There is a lot of spreadsheet work to do before the Nov 17th statement. Potentially a bit of back st driving for Hunt, which could be a source of conflict.
  • CarnyxCarnyx Posts: 44,620
    HYUFD said:

    If Yougov is correct and the Tories are polling higher in Scotland than London it will be the first time this century Scotland has not been the region with the lowest Tory voteshare in GB.

    Yet you don't here Londoners demanding independence!!
    Scotland was pro LKabour and anti Torty first - the independence came a little later. So you'd better bloody well hope the border isn't drawn across your kitchen floor.
  • kinabalukinabalu Posts: 44,812
    felix said:

    Just to add - now live in a new ultra modern house with pool about 10 miles from the coast with fantastic views which took a year to build and cost 250k - in much of the UK it would be 4/5/6 times as much. In California millions!
    £250k - gosh that does sound like a bargain.
  • darkagedarkage Posts: 5,398

    Hardly sound economic policy. Basically bribery and corruption. David Cameron’s gift to the nations.

    Hardly sound economic policy. Basically bribery and corruption. David Cameron’s gift to the nations.
    JLR look to me like the new 'Rover'. They are near the bottom of every reliability index I have looked at, and their EV's have a bad reputation; my friend took delivery of a new car with a range of 75 miles. Britain just seems to be cursed when it comes to building cars.
  • MoonRabbitMoonRabbit Posts: 14,073

    Is that good?

    Everyone needs some time off and a chance to reflect, and there's no reason that Sunak can't take some work with him to Chequers anyway.

    It does show that Sunak is anxious to present a certain image to the public. It demonstrates a particular political awareness.
    I’m calling it.

    Sunak is an insecure man, feeling insecure, and is trying far too hard to avoid looking insecure.
  • CarlottaVanceCarlottaVance Posts: 60,422
    Original tweet deleted and edited to add: Much better tone - as I predicted last week. No stupid threats as with @BorisJohnson or @trussliz

    https://twitter.com/Mij_Europe/status/1585938604978835458?s=20&t=-V7EWIONKgNiNH58TdItfw
  • Ishmael_ZIshmael_Z Posts: 8,981
    Roger said:

    An old 60's expression that means he likes it!
    No, I mean trying to rescue a bad argument and making it worse. I expect professional behaviour from everybody, including me, in professional life, whether they are dentists or MPs or carwash workers. And neither I nor most other people give much of a toss about the sex or skin colour of MPs.
  • wooliedyedwooliedyed Posts: 10,061
    Survation with.... you know the drill
    Tories crawling towards 30
    NEW: Westminster Voting Intention

    LAB 51% (-1)
    CON 27% (+4)
    LD 8% (-3)
    SNP 5% (+1)
    GRN 2% (-1)
    Others 6% (-1)

    Changes vs. 18-19 Oct.
  • Luckyguy1983Luckyguy1983 Posts: 30,838
    Can any of our finance experts confirm that the Bank of England will lose £10-11bn this year (paid for by the Treasury) because it is selling Government bonds at a lower price than it bought them for? This seems lunacy in the current circumstances.
  • HYUFDHYUFD Posts: 127,087
    Carnyx said:

    Scotland was pro LKabour and anti Torty first - the independence came a little later. So you'd better bloody well hope the border isn't drawn across your kitchen floor.
    I hadn't noticed Scotland has become independent overnight.

    The SNP have also had MPs for decades, there is no party demanding London independence. Even England has a small English Democrats party that has pushed for English independence in the past and now wants an English parliament
  • HYUFDHYUFD Posts: 127,087
    Carnyx said:

    "only main nationalist party"

    Scottish Greens too! Neck and neck for third party at Holyrood (depending how badly the Tories and SLD are doing.

    There is not a single Scottish Green MP or Holyrood constituency MP
  • CarnyxCarnyx Posts: 44,620

    I know you think that the universe revolves around the Tory Party, but I’ve got some disturbing news for you: Scottish independence is about Scots and their choices for their national life, not about a political party that happens to be (usually) quite popular in a neighbouring country.
    Quite. A wish for independence is far too often assumed to be anti-English racism; an especially irrational fallacy gfiven the number of people originally from England in the SNP, and in the indy movement (not the same thing, either, wjhich is another fallacy we are seeing today).
  • CarnyxCarnyx Posts: 44,620
    HYUFD said:

    I hadn't noticed Scotland has become independent overnight.

    The SNP have also had MPs for decades, there is no party demanding London independence. Even England has a small English Democrats party that has pushed for English independence in the past and now wants an English parliament
    I'm talking about London independence; where will the border go?
  • CarnyxCarnyx Posts: 44,620
    HYUFD said:

    There is not a single Scottish Green MP or Holyrood constituency MP
    Just wait till FPTP is abolished.

    Also: the same goes for Reform UK. Yet you are always going on aboujt how powerful and important that party is.
  • WillGWillG Posts: 2,366

    Can any of our finance experts confirm that the Bank of England will lose £10-11bn this year (paid for by the Treasury) because it is selling Government bonds at a lower price than it bought them for? This seems lunacy in the current circumstances.

    The price of gilts has surged:

    https://www.cnbc.com/quotes/UK10Y-GB

    Whoever you are getting your information from is an unreliable source you should stop listening to.
  • AnabobazinaAnabobazina Posts: 23,795
    The post Sunak polling looks pretty poor for the Tories insofar as they appear to be picking up DKs rather than repatriating Labour switchers.

    Is it too early for Sunny Rich to worry, as some of the more onside PB Tories claim?

    Or are @Ishmael_Z and @MoonRabbit right and this might be the ‘honeymoon’ bounce…
  • HYUFDHYUFD Posts: 127,087
    edited October 2022

    I know you think that the universe revolves around the Tory Party, but I’ve got some disturbing news for you: Scottish independence is about Scots and their choices for their national life, not about a political party that happens to be (usually) quite popular in a neighbouring country.
    For most Scots it isn't, hence Sturgeon defines herself against Westminster and Tory England. If Labour get back into power at Westminster and give devomax to Holyrood that is a disaster for the independence movement (if less so for the SNP).

    That is why Salmond wants to strike sooner rather than later
  • Andy_JSAndy_JS Posts: 34,295
    felix said:

    Nowhere is perfect and life is not always kind to us but I have much to be thankful for. I remain attached to the UK but I would not consider returning there to live.
    My ambition is to spend a few days in Spain sometime. I haven't managed it yet.
  • darkagedarkage Posts: 5,398
    kinabalu said:

    £250k - gosh that does sound like a bargain.
    Britain has a problem with build costs. A crash in the housing market can address the high price of land but not build costs. Even without a housing crash the rise in build costs is making lots of projects unviable. There are many contributory factors but one factor is the government being indifferent to imposing additional regulatory costs on to property developers as they are not percieved in a good light. But ultimately they create vast amounts of economic activity.

    In other parts of Europe construction is cheaper and far more efficient.
  • WillGWillG Posts: 2,366
    Carnyx said:

    I'm talking about London independence; where will the border go?
    Would love to see London survive without all the commuters from the Home Counties.
  • turbotubbsturbotubbs Posts: 18,630

    Is that good?

    Everyone needs some time off and a chance to reflect, and there's no reason that Sunak can't take some work with him to Chequers anyway.

    It does show that Sunak is anxious to present a certain image to the public. It demonstrates a particular political awareness.
    I think you can spin it both ways to be honest.
  • TheWhiteRabbitTheWhiteRabbit Posts: 12,454
    edited October 2022
    WillG said:

    The price of gilts has surged:

    https://www.cnbc.com/quotes/UK10Y-GB

    Whoever you are getting your information from is an unreliable source you should stop listening to.
    Luckyguy is (presumably) talking about the APF.

    The decision to wind down the APF means selling government bonds. Since gilt rates are higher than during the programme of the APF buying rounds, their sale price is reduced. This is because they are less competitive with present bond issues by the Government (via the DMO), which carry a better yield.

    £11bn may or may not be correct, it is a provision in the accounts for this.
  • HYUFDHYUFD Posts: 127,087
    edited October 2022
    Carnyx said:

    Just wait till FPTP is abolished.

    Also: the same goes for Reform UK. Yet you are always going on aboujt how powerful and important that party is.
    With PR they would be, over 30+ MPs.

    Under FPTP they aren't
  • AlistairMAlistairM Posts: 2,005

    Survation with.... you know the drill
    Tories crawling towards 30
    NEW: Westminster Voting Intention

    LAB 51% (-1)
    CON 27% (+4)
    LD 8% (-3)
    SNP 5% (+1)
    GRN 2% (-1)
    Others 6% (-1)

    Changes vs. 18-19 Oct.

    If the Tories can show boring competence over the next couple of years and with a bit of luck (e.g. positive outcome in Ukraine) then they should be able to reduce the deficit to limit Labour to a small majority. That is probably the best outcome for them as a party right now. Gives them a very good chance of getting back in 5 years later.
  • CarnyxCarnyx Posts: 44,620

    How long have you got?

    I think Gladstone would have thought of Disraeli as an unprincipled adventurer and Disraeli of Gladstone as a sanctimonious hypocrite. The Liberal watchwords in Gladstone’s day were ‘Peace, Retrenchment and Reform’: the Liberal world view at that time was that taxation should be as low as possible so that ‘money is left to fructify in the pockets of the people’ and Gladstone would have been horrified at the high-spending hyper-active state that tends to be associated with much ‘liberal’ thinking today. There is a sternness and severity about Gladstone’s view of the role of the state, whereas the Tories under Disraeli were more pragmatic and accommodating.

    Personally I’m very much in the Disraeli camp.

    Long time lurker but my first post.
    Hello!

    Mind, Gladstone did bring the railways to heel (sort of), with controlled fares on at least one train each day* and a nationalisation powers clause. Still keeps some lines in use for that single train a day.

    *Even if some companies provided crap trains at crap hours.
  • HYUFDHYUFD Posts: 127,087
    edited October 2022
    Carnyx said:

    I'm talking about London independence; where will the border go?
    Nowhere as there is not even a London independence party wanting full London independence
  • mwadamsmwadams Posts: 3,771
    Carnyx said:

    I'm talking about London independence; where will the border go?
    Cardiff, Sheffield, Calais?


  • CarnyxCarnyx Posts: 44,620
    WillG said:

    Would love to see London survive without all the commuters from the Home Counties.
    Quite. An interesting tension there.
  • Pulpstar said:



    You need at least 5% of the sale price of your new-build flat or house as a deposit.
    The government lends you up to 20% (or 40% if you live in London) of the sale price up to the regional limits.
    You borrow the rest (up to 75%, or 55% if you live in London) from a mortgage lender, on a repayment basis.
    The equity loan is interest-free for five years.
    From year 6, you’ll be charged 1.75% which will increase by the Consumer Price Index (CPI) plus 2% (1% if you took the equity loan before December 2019).
    The equity loan must be repaid after 25 years, or earlier if you sell your home.
    You must repay the same percentage of the proceeds of the sale as the initial equity loan. So, if you received an equity loan for 20% of the purchase price of your home, you must repay 20% of the proceeds of the future sale.
    That means if the market value of your home rises, so does the amount you owe on your equity loan. If the value of your home falls, the amount you owe on your equity loan falls too.

    There's certainly a bomb heading for those who took out help to buy from 2024 onward if CPI doesn't fall.

    It'd have to be a big fall for the Gov't to lose out though.

    Sold as "help" - it could yet all end in tears though.
    It going up and down with house prices makes sense though, its essentially a mix of a glorified shared and a loan, isn't it?

    As house prices go up the government benefits from having provided the equity by having its share go up, as they go down it reverses.

    I'd be curious to see a long-term analysis as to how much HMT has benefited or lost from that scheme, I would have thought its been a very positive scheme overall so far.
  • CarnyxCarnyx Posts: 44,620
    mwadams said:

    Cardiff, Sheffield, Calais?


    It's interesting, though - London and the inner Home Counties seem to be diverging politically.
  • HYUFDHYUFD Posts: 127,087

    Survation with.... you know the drill
    Tories crawling towards 30
    NEW: Westminster Voting Intention

    LAB 51% (-1)
    CON 27% (+4)
    LD 8% (-3)
    SNP 5% (+1)
    GRN 2% (-1)
    Others 6% (-1)

    Changes vs. 18-19 Oct.

    Now up to Labour 1983 levels at least
  • Nigelb said:

    Good question, though the answer is not quite what Sullivan imagines.

    For example, NYT yesterday:

    Breaking News: The U.S. economy grew 0.6% in the third quarter, a 2.6% annual rate, a rebound, but not enough to ease worries about a recession.
    https://twitter.com/nytimes/status/1585612820196069381

    FT yesterday:
    Breaking news: The US economy rebounded in the third quarter, as GDP increased by 2.6% on an annualised basis between July and September, surpassing economists’ expectations
    https://twitter.com/FinancialTimes/status/1585615103730262023

    The NYT has plenty of op-eds which push daft Republican memes, too.
    Which somehow Sullivan doesn't notice.
    Note "US Media" includes Fox news.... "Total capture by far-left" is absurd nonsense from Sullivan.

    And FWIW, the balance of UK public opinion actually is that Brexit was a mistake.

    Note also Sullivan was given airtime on the BBC this morning to peddle his line in highbrow right wing paranoia.
    Yeah, I heard that. Wonderful how the BBC is always happy to give 'balancing' views.
    Sullivan has a cheek to be ranting on about bubbles.
  • Is that good?

    Everyone needs some time off and a chance to reflect, and there's no reason that Sunak can't take some work with him to Chequers anyway.

    It does show that Sunak is anxious to present a certain image to the public. It demonstrates a particular political awareness.
    Time off? He has started a big new job this week and parliament has hardly been open for business at all since the summer. Of course he should be working at least one of the weekend days this week.
  • darkagedarkage Posts: 5,398
    I think politics is too chaotic to make any predictions at the moment.
    No one serious would have predicted that Truss would only last for 45 days.
    An end to the Ukraine war could change Sunak's position overnight, we could be well in to the sunlight uplands by Spring.
    Who knows.
  • Luckyguy is (presumably) talking about the APF.

    The decision to wind down the APF means selling government bonds. Since gilt rates are higher than during the programme of the APF buying rounds, their sale price is reduced. This is because they are less competitive with present bond issues by the Government (via the DMO), which carry a better yield.

    £11bn may or may not be correct, it is a provision in the accounts for this.
    I don't see the benefit to selling the bonds at a loss and having the taxpayer pick up the tab on that.

    Holding the bonds to maturity but not renewing them would seem the wiser decision which is what other comparable Central Banks are doing.
  • Casino_RoyaleCasino_Royale Posts: 62,338
    HYUFD said:

    Nowhere as there is not even a London independence party wanting full London independence
    As much of a nonsense as Washington, Paris or Tokyo independence.
  • GIN1138GIN1138 Posts: 22,867

    Survation with.... you know the drill
    Tories crawling towards 30
    NEW: Westminster Voting Intention

    LAB 51% (-1)
    CON 27% (+4)
    LD 8% (-3)
    SNP 5% (+1)
    GRN 2% (-1)
    Others 6% (-1)

    Changes vs. 18-19 Oct.

    Given Rish only became PM on Tuesday I would think Conservatives will be very encouraged to see the polls are already starting to move into their direction.

    It will take a couple of weeks to find out exactly where this is going but clearly he's stopped the rot that set in the moment Liz took over.
  • mwadamsmwadams Posts: 3,771
    Carnyx said:

    It's interesting, though - London and the inner Home Counties seem to be diverging politically.
    That's true - it's more like a corridor that runs up from Brighton to Cambridge.
  • Carnyx said:

    I'm talking about London independence; where will the border go?
    We will keep Epping Forest. They can have Harlow.
  • NigelbNigelb Posts: 76,751
    ydoethur said:

    Rose tinted spectacles are always a danger.

    But here is a question. Who would you have in the cabinet from the current lot ahead of any names member of the 1997 cabinet? Or the 1979 cabinet?

    I find it’s a very short list. Possibly in the latter case Mordaunt for Norman St John Stevas, Sunak for Prior and Harper for Howell. Possibly Gove for Joseph. But would you take any of this lot ahead of even mid-ranking ministers like Pym or Gilmour?

    Was Pym a substantial minister ? Possibly a slight upgrade over our current defence secretary, but I don't think he had any achievements of great note, and disappeared into obscurity when Thatcher sacked him. His predecessor in that role, John Nott, provided the actual archetype of a "here today, gone tomorrow" politician.
    Though I'm no fan of his, Hunt is a more substantial figure than a number of Thatcher's ministers.

    But your general point is arguably true. Peter Walker, for example, who is recalled by almost nobody today, had substantial achievements to his name.

    One could also argue that an exceptionally determined PM who had a clearly formed idea of what she wanted to do, together with a handful of very strong ministers, dragged the rest of the mediocrities up behind them.
  • I don't see the benefit to selling the bonds at a loss and having the taxpayer pick up the tab on that.

    Holding the bonds to maturity but not renewing them would seem the wiser decision which is what other comparable Central Banks are doing.
    At redemption, the gilts are replaced by higher interest debt taken on by the DMO. The government can't escape rising interest rates, and sales from the APF are assumed to be contractionary, meaning that they could replace base rate rises (i.e. increased debt service costs).
  • The post Sunak polling looks pretty poor for the Tories insofar as they appear to be picking up DKs rather than repatriating Labour switchers.

    Is it too early for Sunny Rich to worry, as some of the more onside PB Tories claim?

    Or are @Ishmael_Z and @MoonRabbit right and this might be the ‘honeymoon’ bounce…

    The key moment is the Autumn statement on the 17th November and subsequent polls will be interesting running all the way to next Spring
  • Sean_FSean_F Posts: 38,517

    If you want to get a clearer insight into the agonies and atrocities of Ukraine, a bit of time with Goya’s Peninsular War stuff should do it.

    Some French commanders behaved like the Nazis towards the Spanish population. They viewed the Spanish as savages and acted accordingly.

    In post-war memoirs, French officers were keen to stress that they fought a clean war, whereas all the atrocities were on the part of the guerillas. Rather like the Myth of the Clean Wehrmact, it became the dominant historical narrative for a time.

    Without question, the guerillas could be cruel, but they weren't as brutal as the French were.
  • Andy_JSAndy_JS Posts: 34,295
    edited October 2022

    Survation with.... you know the drill
    Tories crawling towards 30
    NEW: Westminster Voting Intention

    LAB 51% (-1)
    CON 27% (+4)
    LD 8% (-3)
    SNP 5% (+1)
    GRN 2% (-1)
    Others 6% (-1)

    Changes vs. 18-19 Oct.

    30% within a couple of weeks wouldn't be a bad performance from Rishi Sunak. Maybe sooner.
  • Luckyguy1983Luckyguy1983 Posts: 30,838
    WillG said:

    The price of gilts has surged:

    https://www.cnbc.com/quotes/UK10Y-GB

    Whoever you are getting your information from is an unreliable source you should stop listening to.
    Says a flint knapper alias. Piss off.

    Any real finance experts care to opine?
  • As much of a nonsense as Washington, Paris or Tokyo independence.
    Or Monaco, Singapore, Vatican City independence?

    I don't think its a good idea, but city states can be independent if they choose.
  • mwadams said:

    I think so, yes. The suggestion that they don't probably underestimates the nature of their job. Most Doctors probably don't "need" a degree, but it is the way we deliver a structured programme of learning over several years including theoretical and practical work.
    For a long time, it was rare for doctors to have degrees. You would become a medical student at the medical school (or teaching hospital) of your choice, and at the end of the course, you would take the medical exams set not by a university but by the Royal Colleges (or equivalent bodies) and would qualify as LMSSA or LRCP MRCS ("the conjoint") or the other one.

    Then for a long time, it was common for medical students to take both the university exams for a medical degree, and also the college exams as a belt and braces approach.

    I believe you can still do this, although there was talk of ending it. Foxy will know more, of course.

    There is a related question about whether the GMC (General Medical Council) recognises foreign medical degrees. The most famous case of them not doing so, and that is relevant to pb, is of Dr Steven Ward of Profumo Affair infamy, who had qualified in the United States but was not allowed to practise medicine in Britain.

    So yes, as you say, the question of whether a doctor, nurse or physiotherapist needs a degree is misleading. It is not as if they need a degree in (say) History or English before they can start medical training, but that the training needed to become a doctor, nurse or physiotherapist have now been packaged up as degree courses in medicine, nursing and physiotherapy.
  • tlg86tlg86 Posts: 26,538
    Carnyx said:

    It's interesting, though - London and the inner Home Counties seem to be diverging politically.
    Not that interesting. There is a strong correlation between being left-wing and being desperate to live in overpriced places like London.
  • wooliedyedwooliedyed Posts: 10,061
    edited October 2022
    GIN1138 said:

    Given Rish only became PM on Tuesday I would think Conservatives will be very encouraged to see the polls are already starting to move into their direction.

    It will take a couple of weeks to find out exactly where this is going but clearly he's stopped the rot that set in the moment Liz took over.
    The second wave polls next week should give an indication of whether the bounce is a one trick pony or an 'ongoing event'
    35% strategy imo to lock Starmer out of anything more than a wafer thin majority and likely minority government
  • HYUFDHYUFD Posts: 127,087

    We will keep Epping Forest. They can have Harlow.
    You can also have Dagenham and Romford
  • Dura_AceDura_Ace Posts: 14,324
    darkage said:



    JLR look to me like the new 'Rover'. They are near the bottom of every reliability index I have looked at, and their EV's have a bad reputation; my friend took delivery of a new car with a range of 75 miles. Britain just seems to be cursed when it comes to building cars.

    I think they are getting better, from a low base, as they have learned some production engineering discipline from Tata. Against my better judgement I did a new airbag computer in an Evoque last year and could see they had at least tried with reduced fastener count and used 10mm hex as much as possible.

    Every new RR I see seems to be running massive negative camber on the rear to fit the outsized wheels under the bodywork without suspension mods. They must handle like shit at the limit.
  • williamglennwilliamglenn Posts: 54,854

    Original tweet deleted and edited to add: Much better tone - as I predicted last week. No stupid threats as with @BorisJohnson or @trussliz

    https://twitter.com/Mij_Europe/status/1585938604978835458
    Mujtaba Rahman might as well be employed by the Elysée.

    Scholz and Macron threaten trade retaliation against Biden

    https://www.politico.eu/article/france-and-germany-find-ground-on-a-common-concern-u-s-protectionism/
  • HYUFD said:

    You can also have Dagenham and Romford
    Of course. We need places for our quinoa hipster offspring to gentrify next.
  • wooliedyedwooliedyed Posts: 10,061
    Nadine and Mogg are disagreeing about COP27 on twitter. I fear for the kids
  • EndillionEndillion Posts: 4,976

    Or Monaco, Singapore, Vatican City independence?

    I don't think its a good idea, but city states can be independent if they choose.
    Vatican City's independence is a complete nonsense. Monaco's isn't much better.
  • LostPasswordLostPassword Posts: 19,161

    I don't see the benefit to selling the bonds at a loss and having the taxpayer pick up the tab on that.

    Holding the bonds to maturity but not renewing them would seem the wiser decision which is what other comparable Central Banks are doing.
    I don't think it makes any difference to the purpose of selling the bonds, which is to take money out of the economy, whether they are sold at a loss or not.

    Then the only question is how much money you want to take out of the economy and how quickly. With inflation at 10% I can see the argument for taking more money out of the economy more quickly, but I guess we'll see in a year or two whether the Bank is acting too quickly or not.
  • BenpointerBenpointer Posts: 35,296
    edited October 2022

    I think you can spin it both ways to be honest.
    First few weeks as PM has got to be work, work, work, surely? Especially in the current crisis situation.

    So he's doing the right thing. Chequers staff were presumably stood down for this weekend once the lazy liar pulled out having 'gathered enough nominations to make the vote'.
  • Casino_RoyaleCasino_Royale Posts: 62,338
    Sean_F said:

    Some French commanders behaved like the Nazis towards the Spanish population. They viewed the Spanish as savages and acted accordingly.

    In post-war memoirs, French officers were keen to stress that they fought a clean war, whereas all the atrocities were on the part of the guerillas. Rather like the Myth of the Clean Wehrmact, it became the dominant historical narrative for a time.

    Without question, the guerillas could be cruel, but they weren't as brutal as the French were.
    By contrast, in the toilet of a film that is The Patriot the character modelled on Banastre Tarleton is portrayed burning down a church filled with American civilians - an incident that never took place and is modelled on what Nazi SS soldiers did to a French village in 1944.

    Naturally, it's believed though. Film is a very powerful propaganda medium.
  • GIN1138GIN1138 Posts: 22,867

    Nadine and Mogg are disagreeing about COP27 on twitter. I fear for the kids

    Nadine doesn't care about climate change really, she's just converted to the cause because Boris did after he hooked up with Carrie.
  • HYUFDHYUFD Posts: 127,087
    edited October 2022
    Carnyx said:

    It's interesting, though - London and the inner Home Counties seem to be diverging politically.
    All big cities are now more left liberal than their surrounds. Biden won 76% in New York city in 2020 for instance compared to 51% US wide and Macron won 30% in Ile de France in the first round in May and 73% in the second round compared to 27% and 58% France wide
  • RH1992RH1992 Posts: 788
    edited October 2022
    tlg86 said:

    Not that interesting. There is a strong correlation between being left-wing and being desperate to live in overpriced places like London.
    I also think it's to do with being able to afford a home. If people are priced out of owning a home in major cities despite having a salary of £35-40k and a partner with a similar salary, they're not likely to vote for a party that's doing nothing to help them get on the housing ladder apart from token stamp duty relief.

    Instead, they're going to go for the party that says it'll stand up for renters since they have no medium term hope of being able to get on the property ladder.

    The solution for the Conservatives is simple (build houses in places people want to live) but NIMBYism means they won't do it willingly.
  • NigelbNigelb Posts: 76,751

    Yeah, I heard that. Wonderful how the BBC is always happy to give 'balancing' views.
    Sullivan has a cheek to be ranting on about bubbles.
    Well he's not entirely wrong about the audience for Trevor Noah on the Daily Show. But the implication that this is somehow a problem confined to the left is beyond ridiculous.
  • williamglennwilliamglenn Posts: 54,854
    This clip of Keir Starmer tying himself in knots could be a taste of problems to come for Labour:

    https://twitter.com/BenObeseJecty/status/1585358573533802496
  • HYUFDHYUFD Posts: 127,087
    Endillion said:

    Vatican City's independence is a complete nonsense. Monaco's isn't much better.
    No it isn't, as Vatican City is effectively the capital for the Roman Catholic church which has 1.3 billion members worldwide, which would make it the 3rd largest country by population worldwide if the RC church was a country.

    Monaco is just a tax haven mainly
  • HYUFDHYUFD Posts: 127,087
    RH1992 said:

    I also think it's to do with being able to afford a home. If people are priced out of owning a home in major cities despite having a salary of £35-40k and a partner with a similar salary, they're not likely to vote for a party that's doing nothing to help them get on the housing ladder apart from token stamp duty relief.

    Instead, they're going to go for the party that says it'll stand up for renters since they have no medium term hope of being able to get on the property ladder.

    The solution for the Conservatives is simple (build houses in places people want to live) but NIMBYism means they won't do it willingly.
    The Tories don't need to win London anyway, as 2019 proved when they won a landslide despite losing London
  • CarnyxCarnyx Posts: 44,620
    HYUFD said:

    No it isn't, as Vatican City is effectively the capital for the Roman Catholic church which has 1.3 billion members worldwide, which would make it the 3rd largest country by population worldwide if the RC church was a country.

    Monaco is just a tax haven mainly
    If my granny was self-determined ...
  • TheValiantTheValiant Posts: 1,945
    mickydroy said:

    Kinnock was ruined by the right wing media, I can still recall the front page of the Sun to this day, he was treated extremely badly by them, he done a helluva lot of hard yards getting rid of militant, that was rife in labour in the 80s, he certainly made it a lot easier for Blair, alright he fell in the water, Major had sex with Edwina Currie, I know what I would rather do, so when you say (to keep kinnock out) it's because Murdoch didn't like him, which is another credit for him in my eyes
    Over on AlternativeHistory forum, the consensus seems to be that all you needed to have Kinnock win in 1992 was Major's affair come out a week before polling day.
    Major's hypocrisy and his Back to Basics campaign probably would've sunk him.

    Not to be though.......

    Strangely, a 1992 Kinnock win probably would've sunk Blair. Kinnock probably would've been a one termer and a Clarke win in 1997 would've seen off Labour for another two terms or so.
  • state_go_awaystate_go_away Posts: 5,850
    edited October 2022
    Endillion said:

    Vatican City's independence is a complete nonsense. Monaco's isn't much better.
    its good to have sovereign entities like the Vatican that has an international adherence , it lessens the excesses of more geographical states and promotes understanding . There should be more not less. After all for most people, its a lot easier to choose or change your religion than your nationality
  • HYUFD said:

    You can also have Dagenham and Romford
    [Looks up and around, like a confused meerkat]

    Romford? I know what you mean, but the "Essex, actually" aspect of Romford seems to be tailing off. It certainly used to be a place where people went to escape from London and shuddered at the thought of being reabsorbed. But many of the flighters have flown further out and been replaced by people looking for a convenient agreeable London suburb. Ten days until Elizabeth Line proper and all that.

    (Political implications? The first cracks in the Conservative hegemony in Romford appeared in the May elections. It will see out Andrew Rosindell, and probably his successor. But not the one after that.)
  • NickPalmerNickPalmer Posts: 21,677

    Lab 51%
    Con 20%
    LD 9%
    Ref 7%
    SNP 5%
    Grn 5%
    PC 1%
    oth 3%

    Yes, already we are seeing some Sunak trends: Con doing comparatively less badly in London, Con collapse in Midlands, and Reform sweeping up the racist vote.

    Where do right-wingers hear about Reform? I never see it referred to anywhere but here, and have no idea who leads it or what its main campaigns are about. The bland name doesn't sound especially racist or right-wing, sop it's not spontaneous enthusiasm for something like Britain First. Getting 7% must mean that they are getting significant coverage, surely?
  • kinabalukinabalu Posts: 44,812

    This clip of Keir Starmer tying himself in knots could be a taste of problems to come for Labour:

    https://twitter.com/BenObeseJecty/status/1585358573533802496

    Hardly "tied himself in knots" - he just avoided the question by saying instead what he wanted to say. Routine technique.
  • BenpointerBenpointer Posts: 35,296
    Andy_JS said:

    Is it really more environmentally friendly to read digitally than on paper? You'd think so but maybe the obvious answer isn't right. It may be that paper is more easily recycled than the components of digital devices.
    Well the iPad is already bought and used for other stuff so the net increase for having a newspaper on it is nil.

    I suspect the energy costs of recycling and reprinting actual paper is quite hight too.

    Then we have to allow for the distribution of paper copies, in our case the last 3 miles is by a rather elderly 'paperboy' in his car. I feel sad for him tbh as his (hopefully) pin money job gradually dries up. But they'd be cancelling the delivery service to villages like ours once the old boy retires anyway, I expect.
  • CarnyxCarnyx Posts: 44,620

    Over on AlternativeHistory forum, the consensus seems to be that all you needed to have Kinnock win in 1992 was Major's affair come out a week before polling day.
    Major's hypocrisy and his Back to Basics campaign probably would've sunk him.

    Not to be though.......

    Strangely, a 1992 Kinnock win probably would've sunk Blair. Kinnock probably would've been a one termer and a Clarke win in 1997 would've seen off Labour for another two terms or so.
    Counting one's eggs before they hatched?
  • ThomasNasheThomasNashe Posts: 5,331
    edited October 2022
    mwadams said:

    Cardiff, Sheffield, Calais?


    Surround the M25 with border patrols. Checkpoints at the M1, M2, M3, M4 etc. All taxes raised in London to be spent in London; security budget will be huge, obvs.
  • What fall in house prices gives rise to a £23bn black hole?
    Under Osborne's Help to Buy scheme, banks or building societies lend 75 per cent, and the taxpayer puts up 20 per cent, in a typical 95 per cent mortgage. In the event of the borrower defaulting during a market crash where the forced sale of the house will not raise enough to cover the loan, the taxpayer loses their 20 per cent, and only after that are the banks affected. The total liability would be £23 billion. Not the end of the world even if all borrowers default, which seems unlikely, but not insignificant either.
  • DriverDriver Posts: 5,560
    GIN1138 said:

    Given Rish only became PM on Tuesday I would think Conservatives will be very encouraged to see the polls are already starting to move into their direction.

    It will take a couple of weeks to find out exactly where this is going but clearly he's stopped the rot that set in the moment Liz took over.
    Given that we know there is an autumn budget coming, any changes before then aren't too important as they could easily be reversed then.
  • wooliedyedwooliedyed Posts: 10,061

    Over on AlternativeHistory forum, the consensus seems to be that all you needed to have Kinnock win in 1992 was Major's affair come out a week before polling day.
    Major's hypocrisy and his Back to Basics campaign probably would've sunk him.

    Not to be though.......

    Strangely, a 1992 Kinnock win probably would've sunk Blair. Kinnock probably would've been a one termer and a Clarke win in 1997 would've seen off Labour for another two terms or so.
    A Kinnock win in 92 would have robbed me of the absolute joy of ribbing my girlfriend about it for weeks and the general disbelief amongst the student population in Southampton. But but but WHYYYYYYYYYYY. Mwahahaha
  • mwadams said:

    Cardiff, Sheffield, Calais?


    That puts me inside an Independent London. No thanks.
  • Luckyguy1983Luckyguy1983 Posts: 30,838
    Carnyx said:

    Counting one's eggs before they hatched?
    You can count your eggs before they've hatched.

    Or is that a clever joke?
  • Under Osborne's Help to Buy scheme, banks or building societies lend 75 per cent, and the taxpayer puts up 20 per cent, in a typical 95 per cent mortgage. In the event of the borrower defaulting during a market crash where the forced sale of the house will not raise enough to cover the loan, the taxpayer loses their 20 per cent, and only after that are the banks affected. The total liability would be £23 billion. Not the end of the world even if all borrowers default, which seems unlikely, but not insignificant either.
    It's £23bn if ALL borrowers default, and the Government's stake is wiped out?
  • HYUFDHYUFD Posts: 127,087

    Over on AlternativeHistory forum, the consensus seems to be that all you needed to have Kinnock win in 1992 was Major's affair come out a week before polling day.
    Major's hypocrisy and his Back to Basics campaign probably would've sunk him.

    Not to be though.......

    Strangely, a 1992 Kinnock win probably would've sunk Blair. Kinnock probably would've been a one termer and a Clarke win in 1997 would've seen off Labour for another two terms or so.
    Heseltine not Clarke would likely have been Leader of the Opposition in 1997 if Kinnock was PM
This discussion has been closed.