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Thread: (UK EURO THREAD) UK POLITICS MK2

  1. #20081
    tulip's Avatar
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    Quote Originally Posted by Keckers View Post
    They don't hold that sort of sway. Boris Johnson is less popular with the public than he is with the party, and the party is massively detached from the public.
    I think he'll hold on and when it comes to the next election they will just point at Labour and shout "what about Sir Beer Starmer he was just as bad."

    Depressing but plenty of people don't care about corruption or abuses of power because they assume all MPs are just as bad, all parties tarred with the same brush because it's taken so long for any consequences to be brought against him by his peers.
    Quote Originally Posted by Tarminic View Post
    Just for the record, "sending a needy text" is never the right answer.

  2. #20082
    Keckers's Avatar
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    If he survives a vote of no confidence the tories will be in a difficult position. The majority of the public in important demographics have turned against Boris as a person, if the tories as a party back him they'll be tarnished by everything he does from now on.

    also, lol:
    Look, the wages you withheld from the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord of Hosts. You have lived on earth in luxury and self-indulgence. You have fattened yourselves for slaughter.

  3. #20083

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    Just 59% of Tory MPs think that Johnson should be Prime Minister - and most of those are voting to protect their own jobs.
    The worst possible result for the Tories.

  4. #20084

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    The Parliament Square bus stop was first with the news:


  5. #20085

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    Quote Originally Posted by duckduck View Post
    Just 59% of Tory MPs think that Johnson should be Prime Minister - and most of those are voting to protect their own jobs.
    The worst possible result for the Tories.
    Yeah, will only tank labours support by 5%.

  6. #20086

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    So the Saj wants to transform the NHS into "a blockbuster health care system in the age of Netflix" without apparently realising that Netflix is a monthly subscription service or that Blockbuster went bankrupt.

  7. #20087
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    Quote Originally Posted by duckduck View Post
    Just 59% of Tory MPs think that Johnson should be Prime Minister - and most of those are voting to protect their own jobs.
    The worst possible result for the Tories.
    I doubt it. The electorate have shown themselves to be feckless idiots. They're just gonna vote in the Tories again, if many of them vote at all.

    Sent from my Pixel 6 using Tapatalk

  8. #20088

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    Quote Originally Posted by Phrixus Zephyr View Post
    Quote Originally Posted by duckduck View Post
    Just 59% of Tory MPs think that Johnson should be Prime Minister - and most of those are voting to protect their own jobs.
    The worst possible result for the Tories.
    I doubt it. The electorate have shown themselves to be feckless idiots. They're just gonna vote in the Tories again, if many of them vote at all.

    Sent from my Pixel 6 using Tapatalk
    Tiverton has been in the hands of Conservatives since the 1920's, Lib Dems are odds-on to win it. If they lose it, it will be because the tory voters are rejecting johnson and the pressure on him will be huge as every single tory MP will be at risk if they can lose such a safe seat to the lib dems.

  9. #20089
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    Quote Originally Posted by Rodj Blake View Post
    So the Saj wants to transform the NHS into "a blockbuster health care system in the age of Netflix" without apparently realising that Netflix is a monthly subscription service or that Blockbuster went bankrupt.
    The guy is a plonker but that isnt what he said, he was criticising the NHS by saying it IS like Blockbuster in the age of Netflix, and I doubt he minds the connotations of a monthly subscription.

  10. #20090
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    Quote Originally Posted by Keckers View Post
    Quote Originally Posted by Lallante View Post
    Quote Originally Posted by Rodj Blake View Post
    So the Saj wants to transform the NHS into "a blockbuster health care system in the age of Netflix" without apparently realising that Netflix is a monthly subscription service or that Blockbuster went bankrupt.
    The guy is a plonker but that isnt what he said, he was criticising the NHS by saying it IS like Blockbuster in the age of Netflix, and I doubt he minds the connotations of a monthly subscription.
    Yeah that's what saj said, then a spokesman fumbled it later the same day by saying the Tories need to create a blockbuster healthcare system in the age of Netflix.
    ok that's lol

  11. #20091
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    Quote Originally Posted by Keckers View Post
    Quote Originally Posted by Lallante View Post
    Quote Originally Posted by Rodj Blake View Post
    So the Saj wants to transform the NHS into "a blockbuster health care system in the age of Netflix" without apparently realising that Netflix is a monthly subscription service or that Blockbuster went bankrupt.
    The guy is a plonker but that isnt what he said, he was criticising the NHS by saying it IS like Blockbuster in the age of Netflix, and I doubt he minds the connotations of a monthly subscription.
    Yeah that's what saj said, then a spokesman fumbled it later the same day by saying the Tories need to create a blockbuster healthcare system in the age of Netflix.
    ok that's lol

  12. #20092
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    Quote Originally Posted by Lallante View Post
    Quote Originally Posted by Rodj Blake View Post
    So the Saj wants to transform the NHS into "a blockbuster health care system in the age of Netflix" without apparently realising that Netflix is a monthly subscription service or that Blockbuster went bankrupt.
    The guy is a plonker but that isnt what he said, he was criticising the NHS by saying it IS like Blockbuster in the age of Netflix, and I doubt he minds the connotations of a monthly subscription.
    Yeah that's what saj said, then a spokesman fumbled it later the same day by saying the Tories need to create a blockbuster healthcare system in the age of Netflix.
    Look, the wages you withheld from the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord of Hosts. You have lived on earth in luxury and self-indulgence. You have fattened yourselves for slaughter.

  13. #20093
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    Quote Originally Posted by Shaftoes View Post
    Well this bombshell got dropped yesterday

    https://www.ft.com/content/90025f48-...1-3f285f05e775

    Rishi fucked up REALLY bad
    con +3
    Quote Originally Posted by Djan Seriy Anaplian View Post
    Also that didn't sound like abloo bloo to me, PM me and we can agree on a meeting spot and settle this with queensberry rules, that's a serious offer btw. I've been a member of this community since 2005 and i've never met a more toxic individual.

  14. #20094
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    Quote Originally Posted by Shaftoes View Post
    Well this bombshell got dropped yesterday

    https://www.ft.com/content/90025f48-...1-3f285f05e775

    Rishi fucked up REALLY bad
    con +3
    Quote Originally Posted by Djan Seriy Anaplian View Post
    Also that didn't sound like abloo bloo to me, PM me and we can agree on a meeting spot and settle this with queensberry rules, that's a serious offer btw. I've been a member of this community since 2005 and i've never met a more toxic individual.

  15. #20095
    Smegs's Avatar
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    Quote Originally Posted by Shaftoes View Post
    Well this bombshell got dropped yesterday

    https://www.ft.com/content/90025f48-...1-3f285f05e775


    11bn of taxpayers money going up in smoke

    Rishi fucked up REALLY bad
    *sigh*

    Just add it to the pile.

    The Tories have utterly squandered the taxes poured into the coffers over the last decade. With a significant number of highly dubious political, regulatory, financial and procurement dicisions made, we are now seeing the highest tax burden on the public since the 60's. Add onto that what appears to be blatent profiteering by the private sectors and you have a disposable income squeeze which will choke off whats left of any economic growth and put a large number of people in the UK in serious financial trouble, not to mention the personal debt mountain of approximately 30K pp (averaged across all working adults iirc, with national wage currently at 26K). We are heading for some very choppy water in the UK, which will take a considerable time to fix.
    Shitting up eve for .... well, longer than most of you scumbags.

  16. #20096
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    Well this bombshell got dropped yesterday

    https://www.ft.com/content/90025f48-...1-3f285f05e775


    Rishi Sunak has been accused of squandering 11bn of taxpayers money by paying too much interest servicing the government’s debt.

    Calculations by the National Institute of Economic and Social Research, the oldest non-partisan economic research institute in the UK, show the losses stem from the chancellor’s failure to take out insurance against interest rate rises a year ago on almost 900bn of reserves created by the quantitative easing process.

    The loss to taxpayers is greater than the amount Conservatives have accused former Labour chancellor and prime minister Gordon Brown of costing the UK between 2003 and 2010, when he sold some of the nation’s gold reserves at rock bottom prices.

    Jagjit Chadha, director of Niesr, said Sunak’s decisions had saddled the UK with “an enormous bill and heavy continuing exposure to interest rate risk”, adding that it was the Treasury’s fault.

    “It would have been much better to have reduced the scale of short-term liabilities earlier, as we argued for some time, and to exploit the benefits of longer-term debt issuance,” he said.

    The Treasury said: “We have a clear financing strategy to meet the government’s funding needs, which we set independently of the Bank of England’s monetary policy decisions.”

    Under the QE programme, the Bank of England created 895bn of money and used most of the cash to buy government bonds from pension funds and other investors in the financial markets.

    When those investors put the proceeds in commercial bank deposits at the BoE, the central bank had to pay interest at its official interest rate.

    Last year, when the official rate was 0.1 per cent, Niesr recommended the government insure the cost of servicing this debt against the risk of rising interest rates by converting it into government bonds with a longer maturity.

    “There is a strong case for considering balance sheet adjustment now when interest rates are still low,” Niesr wrote last summer.

    The government’s failure to act, despite Sunak regularly warning about the risks of higher inflation and interest rates on the costs of servicing government debt, has now cost taxpayers 11bn, Chadha said.

    The Treasury is responsible for managing the details of QE. Although the BoE decided how much QE to implement, it acted as an agent of government in the technical implementation of the programme.

    The BoE is expected to raise interest rates from 1 per cent to 1.25 per cent next week and could even follow the Federal Reserve in implementing a 0.5 percentage point increase to tackle the UK’s inflation problem.

    Consumer prices were 9 per cent higher in April than a year earlier, the highest in the G7, and the inflation rate is expected to climb above 10 per cent in the autumn.

    Because the UK has almost 500bn of government debt linked to inflation rates, the debt servicing cost is forecast to rise from 53.5bn in 2021-22 to 83bn in 2022-23.

    This increase is mostly a result of higher inflation, but also reflects the rise in interest rates, lifting the net costs of the QE programme to taxpayers.

    Since its launch in 2009, QE has significantly reduced the overall cost of servicing the government debt while interest rates were stuck close to zero, but will save much less money as rates rise.

    The Office for Budget Responsibility, the UK spending watchdog, has said that one of the greatest risks to the UK public finances is exposure to interest rate risk because QE reduces the effective maturity of government debt.

    “Much of the impact of higher interest rates on the public finances now actually comes through quite rapidly,” the OBR warned last year in its fiscal risks report

    Rishi fucked up REALLY bad
    Last edited by Shaftoes; June 10 2022 at 12:14:11 PM.

  17. #20097

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    Quote Originally Posted by Shaftoes View Post
    Well this bombshell got dropped yesterday

    https://www.ft.com/content/90025f48-...1-3f285f05e775


    Rishi Sunak has been accused of squandering 11bn of taxpayers money by paying too much interest servicing the government’s debt.

    Calculations by the National Institute of Economic and Social Research, the oldest non-partisan economic research institute in the UK, show the losses stem from the chancellor’s failure to take out insurance against interest rate rises a year ago on almost 900bn of reserves created by the quantitative easing process.

    The loss to taxpayers is greater than the amount Conservatives have accused former Labour chancellor and prime minister Gordon Brown of costing the UK between 2003 and 2010, when he sold some of the nation’s gold reserves at rock bottom prices.

    Jagjit Chadha, director of Niesr, said Sunak’s decisions had saddled the UK with “an enormous bill and heavy continuing exposure to interest rate risk”, adding that it was the Treasury’s fault.

    “It would have been much better to have reduced the scale of short-term liabilities earlier, as we argued for some time, and to exploit the benefits of longer-term debt issuance,” he said.

    The Treasury said: “We have a clear financing strategy to meet the government’s funding needs, which we set independently of the Bank of England’s monetary policy decisions.”

    Under the QE programme, the Bank of England created 895bn of money and used most of the cash to buy government bonds from pension funds and other investors in the financial markets.

    When those investors put the proceeds in commercial bank deposits at the BoE, the central bank had to pay interest at its official interest rate.

    Last year, when the official rate was 0.1 per cent, Niesr recommended the government insure the cost of servicing this debt against the risk of rising interest rates by converting it into government bonds with a longer maturity.

    “There is a strong case for considering balance sheet adjustment now when interest rates are still low,” Niesr wrote last summer.

    The government’s failure to act, despite Sunak regularly warning about the risks of higher inflation and interest rates on the costs of servicing government debt, has now cost taxpayers 11bn, Chadha said.

    The Treasury is responsible for managing the details of QE. Although the BoE decided how much QE to implement, it acted as an agent of government in the technical implementation of the programme.

    The BoE is expected to raise interest rates from 1 per cent to 1.25 per cent next week and could even follow the Federal Reserve in implementing a 0.5 percentage point increase to tackle the UK’s inflation problem.

    Consumer prices were 9 per cent higher in April than a year earlier, the highest in the G7, and the inflation rate is expected to climb above 10 per cent in the autumn.

    Because the UK has almost 500bn of government debt linked to inflation rates, the debt servicing cost is forecast to rise from 53.5bn in 2021-22 to 83bn in 2022-23.

    This increase is mostly a result of higher inflation, but also reflects the rise in interest rates, lifting the net costs of the QE programme to taxpayers.

    Since its launch in 2009, QE has significantly reduced the overall cost of servicing the government debt while interest rates were stuck close to zero, but will save much less money as rates rise.

    The Office for Budget Responsibility, the UK spending watchdog, has said that one of the greatest risks to the UK public finances is exposure to interest rate risk because QE reduces the effective maturity of government debt.

    “Much of the impact of higher interest rates on the public finances now actually comes through quite rapidly,” the OBR warned last year in its fiscal risks report

    Rishi fucked up REALLY bad
    Yeah but Gordon brown selling our gold etc...

    Seriously this is a shocking oversight from a financial management point of view and I'm surprised no one was telling him not to swap the debt to gilts.

  18. #20098

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    Quote Originally Posted by depili View Post
    How could labour have allowed that to happen, they are bound to lose about 5 seats for that scandal.
    I did see an interview yesterday where they blamed the last labour government for state of NHS without irony.

  19. #20099

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    Quote Originally Posted by depili View Post
    How could labour have allowed that to happen, they are bound to lose about 5 seats for that scandal.
    I did see an interview yesterday where they blamed the last labour government for state of NHS without irony.

  20. #20100

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    How could labour have allowed that to happen, they are bound to lose about 5 seats for that scandal.

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