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doggone
World Chat Champion



Joined: 20 May 2004
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PostPosted: 08:00 - 23 Sep 2022    Post subject: Mixed messaging Reply with quote

So ... inflation is too high and interests rates have risen quite substantially but still at historically very low level.
The purpose of this is to reign in consumer spending thus slightly reducing demand and reducing inflation pressure.

Meanwhile recession is looming so Govt decides tax cuts are needed so that people feel less under pressure and have more money to spend.

Surely both tactics can't be deployed successfully at the same time.
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Polarbear
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Joined: 24 Feb 2007
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PostPosted: 08:11 - 23 Sep 2022    Post subject: Reply with quote

Bank of England worried more about inflation and the gov more worried about recession I suppose. Bank of England are independant so can do what they want irrespective of government policy.

Will it work? Not got the foggiest but I would think interest rates would have to go up quite a bit more to have an effect.
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KiwiBob
Borekit Bruiser



Joined: 25 Jul 2020
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PostPosted: 08:22 - 23 Sep 2022    Post subject: Reply with quote

You have misunderstood the Government plan! ... It is boost the bank balance of the wealthy!
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Tierbirdy
Spanner Monkey



Joined: 25 Jun 2014
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PostPosted: 10:37 - 23 Sep 2022    Post subject: Reply with quote

The peasants get a 1p cut in income tax.

The top earners have the 45p income tax rate abolished.

Something something trickle down economics, good for the country, know your place gutter dwelling peasant.

The Tories havent let the mask slip, theyve pulled it off, burnt it and spat in the nearest street urchin's face. They know their time is likely up, so fuck the peasants, make their rich mates as rich as possible in the time they have left.
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chickenstrip
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Joined: 06 Dec 2013
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PostPosted: 14:57 - 23 Sep 2022    Post subject: Reply with quote

By this stage, I think any policy is a gamble. All will have upsides and downsides - it's the devil or the deep blue sea.

Apparently, technically we're already in a recession. Hardly surprising given all that has been going on in the world.
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Polarbear
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Joined: 24 Feb 2007
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PostPosted: 20:33 - 23 Sep 2022    Post subject: Reply with quote

Financial institutions are not impressed but I'm not sure if they like anything that isn't the 'norm'.

Maybe Truss & co want to spend everything then when they lose the next election they can leave a note saying 'there's no money left' just like Labour did to them.

I have to say I've always condemned Labour for spending from the magical money tree but the Torys have surpassed them with this and I'm personally not impressed. They are meant to be the financially astute party and I bet Richi Sunak is cringing as well.
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Kawasaki Jimbo
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Joined: 09 Oct 2015
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PostPosted: 20:45 - 23 Sep 2022    Post subject: Reply with quote

Polarbear wrote:
Financial institutions are not impressed but I'm not sure if they like anything that isn't the 'norm'.

Bunch of gamblers with a fear of change.

Polarbear wrote:
I have to say I've always condemned Labour for spending from the magical money tree but the Torys have surpassed them with this and I'm personally not impressed. They are meant to be the financially astute party and I bet Richi Sunak is cringing as well.

Battening down the hatches and relying wholly on austerity doesn’t work, they need to encourage enterprise, which is what they’re doing. I support it though there are no guarantees.

Strange that the Bank of England are independent of government.
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Jmoan
Brolly Dolly



Joined: 18 Nov 2015
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PostPosted: 20:05 - 26 Sep 2022    Post subject: Reply with quote

Bank of England Independent or independent ?
The state are literally stealing peoples savings while workers want increased pay for jobs that could easily be scrapped compounding the problem.
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Old Thread Alert!

The last post was made 1 year, 184 days ago. Instead of replying here, would creating a new thread be more useful?
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