Tax rate U-turn lifts pound but markets still fret over government credibility
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- Опубликовано: 2 окт 2022
- The pound recovered slightly in reaction to the chancellor's U-turn over a cut to the 45p rate of income tax.
But, financial markets are still reeling from the impact of last Friday's mini-budget.
Sky's Economics and Data editor Ed Conway analyses what impact the government's backtracking could have on the UK's economic credibility.
#skynews #economy #business #tax
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Seems to me Truss' judgement is incredibly compromised if she believed such a tax cut would have few serious consequences. Does she have any idea what she's doing?
She does making her friends richer
She had this goal before entering office, too bad she can't muster two braincells and realise now is not the right time
It’s not the u-turn which damaged her reputation it’s suggesting those tax cuts in the first place
Insider trading and the obvious corruption that infests the tory party needs to be investigated.
This is a lie and shows how weak socialism is
What a time to be alive! Winter should be fun.
With the Torys in the sun
:)
This government had little credibility during the end of Johnson’s tenure but now with Lizz, the party has lost ALL credibility.
People wont accept Austerity again in the middle of a cost of living crises..they wont freeze to keep the rich comfortable..the markets are nervous of civil unrest on top of everything else...
Blah blah blah.Unrest my backside. People freezing?? I grew up in a house with one tap, one basin and an outside toilet, we didnt freeze. As for blaming the rich?? Its this pathetic and weak envy which will keep Labour out of power.
@@acthompson9983 ..ya sound like an old, out of touch, selfish greedy git...lacking any common sense, empathy or compassion in other words, a typical Tory.
And for only £56 Billion. Still it was only a little bit of turbulance. For a while I thought we might be in real trouble.
We need a Privileges Committee investigation NOW.
How about having racist Labour prosecuted in the courts first. And they think they deserve power?
Quite ridiculous that reversing the 45% rate cut can bolster the pound. It is worth peanuts in the scheme of things and shows just how much the markets over-reacted in the first place.
Buy a suit that fits please and bring us a real news report. This was NOTHING>
I hope the chancellor hasn't unpacked in no 11
Poor UK. Truss doesn't know what she doing. Just a puppet of Rich bosses.
Cowardly, just like the UK Conservative Party in general. And "conservative" in name only, of course. They're slightly to the right of Tony Blair in the 90s, but not much. Disregard any hysterical shrieking from the Left about how 'extreme' they are.
Exactly. As a right wing person I hate Tories. Woke sh!ts they are. Glad I'm left UK, will never return.
No they're pushing further to the right with neo Liberal policies. They are looking at doing away with a lot of regulation that protected workers and the environment. They've lifted the cap on bankers bonuses too.
Funnily enough it was the EU that protected us from the worst excesses of the Tory party and now they're out of the way they're planning on taking us back to the dayx of the poor houses.
Whatever happens and no matter how bad it gets, keep outcasts Michael 'sniffer' Gove, Matt 'grab arse' Hancock, and Can't Shapps aka Michael Green, out of government.
Stay positive with Sherpa 😇💖🐕🇬🇧
Still might not be enough to back the budget stable again.
They had to use additional 6 billion in loans to make up the deficit from August
By 2024 interest on our debt will be the second largest item of Goverment expenditure after welfare.
And the debt has been created by corporate socialism. Giving tax perks to tax avoiders,
Does that mean we are all not going to die then?
The vibes are off
Chancellor, Kwasi by name, Quasi by nature.
#NewIndia
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The pound is having a great day on the markets and investors should be confident in a brisk and bright trading future . NO STEALING!
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Sausages
a fantastic move and a job well done in steadying the market. I remember the chaos from Blair govt. in 2008 that gave us the worst ever recession.
That was the Tory bankers.
@@johnrussell3961 This is a lie. Brown had emptied our accounts, stole from our pension funds then walked out with Russian Banks money in his pocket