Isn’t National Insurance mainly to fund unemployment benefits or something like that?
it goes towards the NHS, some unemployment, disability and maternity benefits and the state pension.
Do you mean me?
As RW said, as a freelancer I have to pay for private health insurance. I have a private pension scheme and I also pay income tax.
I’m not going any further into my private finances because of the Feds etc 
I can’t disagree with any of the points you make, I posted something a few weeks back with similar tones.
The last few years - with the Covid pandemic and recently the War - has affected pretty much every person in the World, and the UK maybe more as it is going through the Brexit transition.
I personally, wouldn’t be surprised if a percentage of the Cons. party were in favour of trying to lose Government, because unfortunately, the world is in a very state. I also wouldn’t be surprised if Labour don’t actually want to Govern the country at present, because they, or any other party would be inheriting so many issues, self inflicted or not.
1 Like
Good grief, Asia-Pacific markets are putting USD-GBP parity in reach…1.05!
Absolutely catastrophic start for a PM, global confidence in the British state has collapsed in a matter of days.
2 Likes
That’s not a theory, it is fact.
They have even stopped pretending they are not doing that.
Brace for two more years of this.
Brexit was just the beginning.
4 Likes
There has been talk on social media and some papers that there will be vote of confidence amongst tory backbenchers this week if the £ continues dropping.
Might not be true but since the budget there has been obvious disquiet and a lot of MPs appear to be worried with the messages it sent out. Also obvious that Truss’s failure to build a cabinet from different factions has left her without a window where she would otherwise be given unconditional backing - and she polled very low amongst MPs during the leadership election.
Some economists have suggested £ may have fallen harder had Starmer not had such a lead in polls and a relatively sensible economic stance.
At least she is keeping to her pledge of hitting the floor from day 1.
1 Like
I don’t get how this works. Are the only Conservative MP’s that had vision of the budget plans before the public announcement those directly in cabinet, or is there a larger group that saw it? Even then, how do 22 humans look at Kwarteng’s budget plans and say ‘yep, checks out’?
We’ve had the entire week prior to the announcement of economists saying that Kwarteng’s budget would be a very bad idea, and I didn’t hear any worry from the Tory MPs. Only when they announce the package and the pound does in fact tank as everyone predicted are they suddenly starting to panic.
Just more evidence of the Tory intelligence vacuum we have experienced since Brexit.
3 Likes
I wonder if there were a bunch of options on the buffet table and it was simply a question of rocking up and choosing… i.e. the “options” were known for a while
???
I’m wondering how this all works, perhaps someone better informed could educate me.
All these changes require a parliamentary vote to change, right? He can’t just change it by decree?
If so, what’s really stopping these MPs from just voting against it to express their displeasure?
1 Like
Damage already done?
Most likely they all have their snouts in the trough so risk losing their cash cow. Or they’ve had the party whip pressure them to tow the party line
2 Likes
For us maybe but not for her. Was clearly intentional. Made a fortune for her mates who were shorting the pound, and set herself up for life among the elite caste
2 Likes
All their dirty deeds would be exposed in the Torygraph and tabloids. Their constituents would throw angry glances at them and they would lose the whip (i.e no longer be part of the tory group in parlement). All that is pretty nasty stuff.
I still have some debts to pay in the UK… Not sure whether it’s worth transfering dollars to £ now or wait another few days and see how bad it gets for sterling.
1 Like
Hold off 1 month and you might be able to buy the entire country 
if the value continues dropping at this rate
1 Like
Looks like there’s attempts to stabilize the pound at 1.08 so at a guess BoE intervention. Now it all depends on who is prepared to help prop it up. The BoE can not do it alone so it will fall again and even plunge.
Looks nasty as if BoE ends up with very low gold reserves it will be forced to buy gold with a highly weakened pound which will put even more pressure on the pound.
That’s my simplistic look, I’m sure many could go deeper into it though I doubt it’s worth it. This is like sking down a scree slope imo.
Do you remember when a semi-competent (for Labour) Chancellor sold off over half the UK’s gold reserves at a massive loss? Good times 
1 Like