Is another Truss and Kwarteng economic U-turn imminent? 

It's not a mistake, this is deliberate. The hedge funds were given the heads up so they could game the pound, they knew exactly what this would do to the economy.

only when they were exposed by the media, if they had not of been caught they would happily carry on taking taxpayers money

@@austinbeige Rishi Sunak even warned everyone.

@@austinbeige In other words this is straight up, deliberate, class warfare.

Welcome to the post-consequence, post-accountability era, these people have no shame

For what? So you can vote the next clown into power?

@Sam Carena....Not a new goverment but a new goverment culture where there is emphasis of following the mandate given by the British voter. A ''new goverment'' is just changing face but the system remains the same.

@@ruinerblodsinn6648 It's impossible that anyone else can be anymore of a liability

@@laurenk6741 pretty sure allot of people said that when boris left.

@Yakov Shani Mordaunt was the only choice here.

I think they're in Washington as KTang spends most of his time there.

we don't have an FBI in the UK, corruption is either ruled by 'convention' or just ignored.

Yup, imagine the insider tradings possibly talking place !!!!

Have always been.

Thanks to an unelectable anti British labour party.

Not for rich and wealthy.

Let's hope Dorries' replacement doesn't privatise C4.

​@@stevejones2310 glad the idea was scrapped, was so petty.

@@joshuaparrott2458 is it a definite other U-turn? I didn't know.

I honestly prefer sky news reporting. I honestly don't see how this tax decrease is a bad thing if it leads to an increase in domestic production especially in natural gas for instance. The issue is that multinational companies have such a stranglehold over the uk government which means they have no alternatives

@@Micfri300 every economist and financial expert except for one says that Truss's ideology is flawed. The exception is Patrick Minford - Truss's guru.

Double U-turn is a circle 😂

Watch out for the rough edges 😉

That would work if it was a V-turn

Exactly

Jail him. Take all his assets.

In 10-15 years time, probably so

🙄

@@timcomley5948 use your words Tim, then we might know what you think. 🤔

Rejoin single market 👌

@@40yearoldvirgil15 yes!

Part of the problem is that parties now think that selecting a new leader should involve a vote from their membership, as this is "democratic". Hence, a bunch of ruddy maypole dancing, well-to-do farmers from the Southern counties who are Tory members made Truss the leader of the Conservatives and therefore PM, despite her not commanding a majority of the MPs. MPs elected by the UK electorate, who are more ideologically diverse and less right-wing than the Tory membership as a whole, would have picked someone like Rishi Sunak who was saying explicitly that these policies being set out by Truss were fantasy economics and a terrible idea. Truss being made PM is the worst example of a party membership putting a more extreme candidate into place, but this is exactly the same as what happened with Jeremy Corbyn, who was not popular with Labour MPs but was elected by the party membership, a bunch of depressed vegans who enjoy bright coloured hair-dye. Now, obviously after this failed experiment Labour came to their senses and put Kier Starmer into the leadership position - we can only hope either there is a GE, or a similar process happens whereby a more middle of the road Conservative candidate is put in place to replace Truss. Point is, because of the limited nature of party membership in the UK in modern times this idea of having their memberships elect a leader puts us at a greater risk of having more extremists in charge rather than someone that the public actually likes. We had this in 2019, Boris was never someone the public liked if we are honest - most people knew he was a liar, a cheat, a scoundrel, but then his opposite was Corbyn... If Starmer was against him do we really think we would have a Conservative government today - perhaps, but certainly not one with an 80 seat majority. We need to go back to MP only leadership selection, they have to appease their constituents (us) so have more to think about than just their ideological beliefs and personal goals.

We all need to spoil our ballet papers at the next election.

@@pqrstzxerty1296 that is normally something that the left do, and normally benefits conservatives, so no

@@pqrstzxerty1296 no we need to vote for parties supporting PR.

@@jacquie212 Well vote for the Green party then and waste you vote in a two party system.

Not only there is no trust but soon there will be no Truss either

I had not heard about the sacking of senior members of the treasury. Their guest references that at the end. When did that happen and why? Is there a date that was announced? This is just horrifyingly bad governance.

@@marshhen “The most senior civil servant in the Treasury has been sacked by Kwasi Kwarteng, the new Chancellor. Sir Tom Scholar, the Treasury permanent secretary, was told he was no longer wanted in the job on Tuesday.” The telegraph, September the 8th

Free trade will never work in the United Kingdom. Our nation simply isn't big enough to support it.

You guys repeat what the press says, and investors get their info from the press. No one holds the press accountable though. Funny. Measures need years if not decades to work. Each measure is already condemned after day one by the press and some investors turn to different countries. Countries where the government is not much better, but the press doesn't depict it as a failure from day one. Not just with Truss. Cameron crucified from day one. Theresa May. Boris Johnson. You name it. At least in the last 15 years or so, from abroad, I've always only heard negativity towards each government from day one. Constant criticism by the press and those who follow it.

Spot on.

this

Except no Labour Governmemt would behave like that so the situation would have never arisen.

@AJ 7..UK also was never one wealthiest countries in the EU or Europe. Even the Netherlands have higher standard of living.

UK is one of the highest taxed countries I have lived in. Tax tax tax everywhere and on everything. Very tough to build wealth.

@@onlineonlineaccount2368 the netherlands has one of the highest standards of living in the world. So that doesn't seem surprising at all.

@@senanur1983 most western European countries have much higher tax levels.

@@drunkensailor112 he has never been to Italy

Well, the chief mouser won't need to wait around for someone to open the door for him.

it's ridiculous at this point, there's homeless people on every corner now

this is the end of the tories people can see them for what they are evil and robbers and punishers of the poor and middle classes

They had the most money in the treasury when they left office in 1997. The last time it was that high was before WW2. Labour spent it all by 2010.

Witch tory paper do you read . Saying labour will be bad is like saying BREXIT will be good.

@@wayneford2481 He didn't say Labour would be bad. He said Labour allowed themselves to be painted as bad, which is true.

indeed, Labour is just dumb

You're all deluded: none of them are interested in the prosperity of citizens - be they working or middle class. The economy has been systematically demolished over the past 30 years, with the charges going off with the scamdemic, followed by that lovely wealth transfer con, 'Aid' for Ukraine. Ha! As if Labour being in charge would make the blind bit of difference anyway... Well, you might get full blown Communism sooner, but then the Conservatives are already doing quite well at this.

@@wayneford2481 brexit was a choice of the people to no longer remain apart of something we didn’t want to be apart of it changed from a single market to a rigid peer system of which we had no say who was in charge no complete control of any of our decisions and had to pay billions to nations that didn’t even seem to receive the funds now the Labour parties issue isn’t so much incompetence it’s the fact it doesn’t align with the majority of British political opinion which has leaned heavily to a more right nationalistic ideal

She was elected by party members, not by the general public, so she only really had to get the votes of a small number of old wealthy conservatives (sort of like a caucus in the US). In the UK the public only get to vote for a party, then that party can change leaders as many times as they like before the next election comes around. It's a stupid system really. The only way to get an early election and change parties is if 2/3rds of all 650 MPs agree to one, and that's unlikely to happen while the opinion polls are so bad for the ruling party.

inb4 >the government has investigated itself and found no wrongdoing

... Based on what law would the police investigate? You can't just turn up and decide that "something smells bad", this isn't a sodding noir procedural...

Except the pound which continues to plummet

You might need to U-turn on that.. if they U-turn

@@richard-gn3es a full 360 U-turn

😂😂 brilliant. I needed cheering up thank you.

Sounds like the IELTS test requirement

Obesity Coffey must have a A B.C Z PLAN for the economy.

Yes you can share the joke as you queue at the Food Banks

And who would you recommend replace them? Labour? LoL ruined the country in 1979. And in 2010. Liam Byrne's note there's no money.

@@sw1000xg Economy was growing in 2010 when Labour left office. Fact. The note was a tradition going back decades and was not to be taken seriously. It was not meant literally. The Conservatives decided to exploit it by lying to justify austerity in order to punish the poor. The deficit and debt both increased meaning they failed by their own measure. Peak year for disposable income in 1970s was 1976 due to strong unions. Tories have destroyed society but one day people might learn to stop voting for incompetence and greed.

@@eightiesmusic1984 it wasn't growing. Because Liam Byrne wouldn't have left a note stating there no money. If it was growing. And then we spent 5 years in austerity. Clueless troll.

@@eightiesmusic1984 we had three day weeks in the late 70s under labour. lol you're a muppet.

@@eightiesmusic1984 lol the note was last written in the 60s. And we spent over 5 years in austerity afterwards.

?

They're talking about it - as an object lesson in how not to manage an economy

If it sells well he'll cut the tax on it!

@@plok77 The only thing they did wrong is how they went about it. That was politically naive. The actually policies are around. I mean the corporation tax hasn't even happened yet so we haven't seen a cut.

@@cup1966wow The markets clearly didn't like the signals being sent out by the government with their mini-budget on the future direction of fiscal policy. Announcing tax cuts without a proper costing by the OBR, based on vague promises of future growth. And the Chancellor's tour of TV studios that weekend hinting of further tax cuts to come. With high inflation, rising interest rates, and the UK economy either already in recession or teetering on the brink, the markets reached the not unreasonable conclusion that this wasn't sensible.

@@plok77 As I said it's not that the policies aren't sensible it's how they handled it. The corporation is a big thing and I completely disagree with that rise. Working for a small company I know how much they are worried about that. And small companies are the ones that get most affected as big companies have the ability to move profita around to other countries easily. They should it just waited to the November budget to announce all this and not do the 45% tax cut. The benefit of it is small either way but it's a big political thing.

Strangely Johnson won a scholarship to Eton as well & they are both useless at their jobs

@Green...You mean that idiot that love spewing misinformation, racism and conspiracy theories.

😆😆😆😆😆😆😆

😂

😆

@Abraham EL-Gothamy....How is Kwarteng to blame ? When these economic policies where already set by the Conservative party before Kwarteng became the minister of economy.

This was Truss's stance she spoke about what she wanted to do for 5 weeks. Hired KamiKwasi to carry that out, so it's on her both are equally guilty of being ignorant and arrogant in equal measures.

@@chrissilver7719 i agree. He might not have been the origin of the plan, but he carried it out. He is supposedly intelligent and he should have foreseen this. Like there are a bunch of reasons why this is a horrible time for the uk to enact these plans. A huge war in Europe, lingering effects of the pandemic, a smaller country without a large consumer base.

@@onlineonlineaccount2368 please see my reply to chris silver.

The two things I disagree that Rishi did was increase national insurance and announce increasing corporation tax. More tax when you are going into a recession is not a good idea. The corporation tax will only affect the small to medium size companies as well because the big multinationals will just move their profits to other countries.