We seem to be going all in on the city of London. I don’t understand how this strategy will benefit anyone outside of London. How are wages going up in London going to help those in Barrow or Sunderland, now or indeed 6 months from now? Will there magically be new jobs for them by then.
It’s enough to make you think they are trying to wreck the country and get the next government in asap - as the longer anyone stays on the current ship the less likely are to be ever elected again. If any u-turns are made will Kwarteng have to go?
It’s the ‘Trickle up (North)’ effect. Wealth will move up the M1/M6 until it reaches all those ghastly places where people speak with regional accents.
Labour very rightly made it publicly known that the bag of shit left at the country’s doorstep belongs to the Tories and they won’t weasel their way out of owning the financial damage they are currently inflicting. Labour really need to regularly remind the public of this throughout the next 2 years until the election, and just as importantly, when Labour are in government. Don’t let them get out of this. If Labour spend their first term just navigating out of the Tory induced quagmire, then remind everyone of that! Fuck em.
I don’t either. It just seems like such a big miscalculation (regarding the other points you make) that it emphasises the disconnected (to reality) world they are apparently in and would appear as though they are running the system to zero.
Just saw shares of some insurance companies getting hammered - due to bank margin calls forcing them to sell gilts they hold which are already falling in price…
For years now the Tories have had a lunatic fringe that has wanted to do what Truss and Kwarteng have done. The fanatical small state trickle down ideologues. There has always been the bulwark of a Prime Minister and Chancellor without quite the insanity between them to do that.
Now they have what they want and there is nowhere to hide. The new leadership team’s first direct intervention has been an absolute catastrophe.
Labour just have to make sure they can keep this pinned on the Tories and they don’t weasel their way out. I’ve seen polling today that suggests a 50 seat majority for Labour if there was an election tomorrow.