It’s more expensive to means test than it is to give it to everyone.
why HMRC knows everbodys income - unless you’re cheating …which would be on the low side anyway
Unlike the Sun readers he is well studied in economics and knows full well these tax cuts will not boost the economy. Just like everyone else, from Jo Biden and the ex- US Treasury secretary, to the IFS, to the financial markets know it. It’s not a mystery or some unknown strategy or whatever.
He knows, he just doesn’t care. It had to be promised by Truss to win the Tory membership vote which was necessary to get them into power.
Income doesn’t mean you don’t need help.
hmmm maybe , but he didn’t have to take the job …he wasn’t on the ballot
That’s also no system to do such a thing in the 1st place, sure there’s systems which could be taken and adapted over time, but that’s months of alterations and testing, by that time you’re already in 2023 with everyone in deep water who need the payments now and not months later
I didn’t say what level to set it …ie means test … then decided
No… Ok you are all right
bring on the Labour Govt shangri la
yay soon sort it out everybody happy…no riots
Promises would have been probably made to secure the MP votes.
I think it’s just his shot at chancellor, it’s the only explanation really.
why would he want it is his ego that big to be 50 / 50 known as the failed chancellor or was he too stupid to know what was coming down the tracks before Truss got elected
I think it’s more alluring than you think. It’s a powerful position, good or bad your name is in the history books and you become one of the most powerful people in the world’s 6th largest economy. Residency at number 11, meetings with the worlds most powerful people, and probably a lifetime of talks, appearances and connections that set you up.
Probably any minister without a realistic shot at number 10 would take number 11 whatever the circumstances
I can’t be alone feeling the cold today? I did switch the heating back off but it is a bit chilly compared to recent weeks!
Seemingly the front of the house where no sun comes until late afternoon.
I think you need to man up put extra layers on to keep warm, cheaper then putting the heating on
Generally quite the opposite it’s the other half usually moaning about how cold it is (closes windows in summer
)
I can’t imagine many Tory voters rioting. They might send the butler to riot on their behalf
It be like a scene off the walking dead, except it’s well off pensioners walking at a snails pace
It also keeps the cast of A Bug’s Life outside, so I’m with them on this one.
This is fair
Just for anyone that doubted the gov covered up the OBR report:
Independent forecaster the Office for Budget Responsibility (OBR) has already provided a draft to Chancellor Kwasi Kwarteng, the BBC understands.
The draft forecast the OBR has provided does not include the impact of the energy bill help. It has offered to provide a forecast including this impact, but that has been rejected.
A spokesperson for the Treasury said: "Given the exceptional circumstances our country faces, we have moved at immense speed to provide significant energy bill support for households and businesses, and are acting swiftly to set out further plans to kickstart economic growth later this week.
“We remain committed to maintaining the usual two forecasts in this fiscal year, as is required.”
So the gov just didnt want to tell everyone what they predicted, that also means Kwateng will have known the projections from the draft report based on his tax break for the wealthy and would have known the outlook was not good but did it anyway.
Then a follow up:
The OBR provides independent forecasts of the impact of government’s plans on the economy. My understanding is that the Bank - at the very least - made a forceful suggestion to the Treasury that it needed to embrace the OBR as a means of earning back lost credibility with the financial markets.
As one investor told me, Chancellor Kwasi Kwarteng appeared to present a collection of think tank pamphlets at Friday’s mini-Budget, whereas the markets were wondering why, at a time of general financial instability, there were no borrowing numbers presented with it.
A draft of the OBR’s forecast was waiting on the new chancellor’s desk when he arrived at the Treasury.
It could have been updated with new measures made to legal forecasting standards well before last Friday. Indeed the Treasury costed all the new measures itself.
There was a concern in government that the OBR would say awkward things about costings, or making the numbers add up, or the extent of borrowing or spending cuts required.
The thing I’m really struggling to understand with any of this “green energy” is how does that help heat homes powered by gas boilers?
Am I being dense?