Gold isn’t really used to back any G8 currency now, gold reserves are not that relevant anymore.
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The committee said Lord Pannick had “a systemic misunderstanding of the parliamentary process”.
Wow. That couldn’t be more wrong. I’m not sure I could name anyone with a better understanding.
Wow, UK 5-years have a higher yield now than either Italy or Greece…and that is with the Italy 5-years taking a hit from the election news
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Sky News already reporting letters of no confidence in Truss being sent to 1922 chair.
What is the current record for shortest term as PM? Excluding those in temporary or acting role
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George Canning, 119 days back in 1827.
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And a follow up query. By how long will Truss beat that record?
Tbf, the shortness of Canning’s tenure was no reflection on his political ability, only his health. It was cut short by his death.
Predicting Truss’ length of tenure feels like a fools errand.
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The return of Boris ?..may stop those letters…unless it’s Boris writing them?
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Comment I saw earlier in a text sidebar to a meeting this morning: “who the fuck knew BoJo was the safe pair of hands all this time?”
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Every new Tory PM makes the last one seem competent.
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Would they be that stupid so quickly?
I do know people suggested Truss would screw up and get flicked off after the GE and he would potentially get back in a few years. But she hasn’t even been in charge for a month and already facing a potential leadership challenge. But would the tories be so stupid as to go back to BoJo that quickly?
This really is staggering - 2%+ leap in interest rates is virtually assured now, and a startling number of mortgages are hitting renewal. Markets suggesting that most of those would be 6% or so
Taken in conjunction with higher energy costs, that is near-certainty for a recession - and a bad one, comparable to early 80’s.
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crest fallen!
Selling gold to save social services is a bit different to crashing the economy to make your rich mates even richer
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I wouldn’t go that far. All it proves is that they literally have no one competent left.
In time, and before too long, it will be up to Labour to show what they can do. If they win a general election, hopefully they can make good progress in making the country a better place, for more of its people.
I just got off the phone with my dad back in England, retired for ten years now, but still works part time here and there to keep active, and pay for holidays. He was really down on Truss and what is going on.
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does that make it “in for a penny, in for two pounds” now?
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Apologies, not you personally rather does Germany have a National Insurance type “tax” earmarked for health, pensions etc. Even self employed people in the UK have to pay this if they earn over a certain amount.