James O'Brien's utterly devastating response to Liz Truss' U-turn | LBC
HTML-код
- Опубликовано: 2 окт 2022
- James O'Brien's utterly devastating response to how Liz Truss' government has 'alienated supporters' with the U-turn on abolishing the 45p tax rate.
This video clip is from an LBC show presented by James O'Brien on 03/10/22.
Listen to the full show on Global Player: l-bc.co/ListenNow
#JamesOBrien #LizTruss #LBC
LBC is the home of live debate around news and current affairs. We let you join the conversation and hold politicians to account.
Subscribe for more: l-bc.co/subscribe
The latest videos from LBC: l-bc.co/Latest
Listen live to LBC on Global Player: l-bc.co/ListenNow
Nick Ferrari’s latest show: l-bc.co/3biHVvM
James O’Brien’s latest show: l-bc.co/3ONyPVI
Shelagh Fogarty’s latest show: l-bc.co/3JkNEha
Join in the conversation and listen at www.lbc.co.uk/
Sign up to LBC’s weekly newsletter here: l-bc.co/signup
Like, follow and subscribe to LBC!
Website: lbc.co.uk
Facebook: lbc
Twitter: / lbc
Instagram: / lbc
This is not your ordinary talk radio stream. LBC is the leading RUclips channel for live debate around the news and current affairs. We have live interviews and debates and you can even phone in to join in the conversation.
I think it's high time for vote of no confidence towards the ruling party.
Agreed sir
@Paul Hitchens In the words of your PM: "You, sir, are a disgrace."
Ah but you see, Gordon Brown and Jeremy Corbin are actually Force Projecting their control from another galaxy. Tories are not actually needing voted out, are they.
Sign petition for gen election on petition gov website
Agreed but who would instigate it.
The Tories wont because they know they will lose
She's only been in the job for less than a month and been running for leader since July and she already has made more U-turns than I have in my 6 years of driving!
I'd wager that you've done more safety checks though.
She's a walking contradiction..
1. Liberal turned Right winger
2. Republican turned Royalist
3. Remainer turned Brexiteer
4. Low tax turned tax cut reverser
She needs to be put out of her misery
It wasnt a u turn, it was a change of direction.
Remember 2 weeks of that doesn't count because of the queen's death...
I did not come up with that some tory said it on the news this morning
It's all too late. They've shown us their true colours now and shown us just how little they think of .the average family in this country!
I just planning to migrate from this country a more than 14 months for now
.....what..?
They've been showing their true colours for a full 12 years now, for anyone who had a mind to see it.
They wrote it all down in Britannia Unchained aka Tory's Kampf.
Who does it benefit?
HEDGEFUND MANAGERS
.......
After she introduced this policy one of her mate made over 100 millions.
Saavy?
.......
Liz Truss might not seem that bright.
After few days in her job she can retired with nice fat kickbacks.
Travel the world. Sipp pinacolada and do Nada.
Great woman. Looking up to her.
Of course they’ve u-turned, their short-selling mates already made fat stacks of cash.
Well said
100% mate
@Ed Gray Exactly
This is what worries me. I think this was intentional just to pay off their mates in the business community. The rest is much uglier to come.
And probably made another fortune on the U turn and subsequent rise in the pound.
Congratulations to Kwasi Kwarteng. A month ago he was not known outside of his party. Now he has made sure his name will forever be remembered, that's some achievement.
Within a few short weeks he has gone from a nobody to stamp his record in history as Britain's worst ever Chancellor.
Pretty sure the conservatives like him a lot, he does what he's told and made his mates a fortune in a few days by shortselling.
To paraphrase the always wise Homer J Simpson: "Britain's worst ever chancellor, so far"
He is a willing fall guy.
Oh well at least he ticks the box
Go Kwarteng
It's funny how the one time Truss answered a question directly in the whole of the kuenssberg interview, 'Are you committed to the 45p tax rate, she answered with an unequivocal 'yes', and she has to U turn the following day.
Its more than funny, actually quite astonishing. Here is the PM interviewed on prime time political slot saying YES and next morning its NO. All credibility gone....in a flash.
The only other question she answered unequivocally, without trying to talk all over Kuenssberg, was did you ask the cabinet... No, was the answer.
What British people need to understand is that she is STILL committed to the tax cuts for the top bracket, she is simply taking it off the table FOR NOW.
Seems to be becoming a trend for leaders of the Conservative Party to lie through their teeth when addressing the electorate.
Who does it benefit?
HEDGEFUND MANAGERS
.......
After she introduced this policy one of her mate made over 100 millions.
Saavy?
.......
Liz Truss might not seem that bright.
After few days in her job she can retired with nice fat kickbacks.
Travel the world. Sipp pinacolada and do Nada.
Great woman. Looking up to her.
What annoys me about this 'debacle' is that the Government is unwilling to shift on it's decision to cut £2b per year from the £6b railway's budget, yet a chancellor has no accountability for £65b lost (transferred) from the public purse to his his hedge fund best pals
Fully agree.
...
Who does it benefit?
HEDGEFUND MANAGERS
.......
After she introduced this policy one of her mate made over 100 millions.
Saavy?
.......
Liz Truss might not seem that bright.
After few days in her job she can retired with nice fat kickbacks.
Travel the world. Sipp pinacolada and do Nada.
Great woman. Looking up to her.
@@ConstructiveMinds100 Are you her son or hedge fund manager? If not, I can't see your benefit or self interest in her being a 'great woman'. Perhaps you can enlighten us on your reason versus the 99.99% off the population.
I think that was sarcasm…
@@anthonymccabe3773 🤦🏻 whoosh, that one went right over your Head !
He should be investigated about that it stinks to high heaven
I think the worse part of the U-turn was Liz 'I just stepped out of Wallace and Grommit' Truss throwing out a quiet "it was Kawzi's idea" to try and deflect some of the blame from her!
@gnu_andrew Are you sure? That can't be right, surely. From what I've seen over the past 6+ years, anything that the Tories do is everybody's fault but the Tories...according to the Tories.
liz "the buck stops over there" truss..
I see her stupidness truss is keeping very quiet today, and thrown him well and truly under the bus.. If he goes so should she PLEASE 🙏
She actually said "it was a decision that the Chancellor made". Decision?!! LK didn't pull her up on that but amazing statement for a PM to make. Just who is in charge here?
Dear Liz, I don't care whose actual idea this was. As the Chancellor's boss, I don't believe there is any way he went full-Kwamikaze and announced a policy shift as big as this tax cut without you being involved in it or receiving an advance copy and signing off on it so this is on you. If he did do this on his own, without your knowledge then you have failed as a manager because your direct report is out of control and you haven't exercised any discipline
Was getting rid of the 45% tax band simply a ‘sacrificial lamb’, with the intent of ‘U’ turning, to distract attention from some of the other budget changes? The ‘U’ turn has made such big headlines that it has distracted everyone from other more odious changes and proposed changes like removing bankers bonus caps, ‘government departmental efficiency savings’ and no effective increase in benefits. Food for thought
Well said, I said the same earlier, a very cunning plan of distraction politics
Monzz
Finally some body else can see what’s happening here 👍
I don't think they are they clever mate
@@themarra but, loopy Liz is the sacrificial lamb. They’re so arrogant, they think they can win a general election, which they probably will.
Watching the conservatives run the country is like watching the benny hill show
or more appropriately the three stooges or rather two!
W Nottingham Forest
Monty Python
What, painfully unfunny and thoroughly depressing?
Just imagine if Corbin would have got in. Everyone forgets what options we had at the time.
They weren't awarding tax breaks to the highest earners. They were awarding tax breaks to themselves, the other high earners were just colateral.
MPs are not in the highest tax bracket. They are not even close.
@@jim-es8qk MPs are in the top 90% of earners on salary alone. 23 of 29 of her cabinet are millionaires.
@@jim-es8qk Not based on their base MP salary, no, but cabinet members get their £84K, plus another £67k. The 45% bracket is £150k which just pushes them into it. Add on their additional salaries from other work and they are all well inside the 45% bracket, even with the fancy accountancy footwork to reduce their liabilities.
This is something that the rich do that the working class can use a little more of: class solidarity. They look out for themselves and people in their position. Whereas we have hard working people struggling blaming others who are also struggling whether that be people on benefits, immigrants, addicts, and the homeless. When the real villains are these billionaires at the top! The ones who lobby governments and the politicians who accept their “donations”. The capitalist system that oppresses everyone and anyone that is struggling.
@@rhodriwilliams2599 I would say to a very large extent these folk have turned us on each other. The best way for a government to distract from it's short comings is to find a scapegoat or create a problem we didn't used to have. Usually that involves a certain slice of society. Eventually you use up all those slices and we are all at each others throats. Whilst they quietly smile and move on. Politics is 100% self preservation.
If there was never a Brexit vote, we would not have been here first Theresa, then Boris, now Liz,
...Brexit, the disaster that keeps on giving....
You forgot David Cameron who started this whole mess to begin with
@@hatsunemikufanboy except DC was already in and called the Brexit ref...
@@MrMWPeach exactly my point he ran on a Brexit vote manifesto and that election promise from 2015 have led directly into this chain of 4 prime minister's in 6 years
Do be quiet you pathetic loser remainder. You are an idiot, this has nothing to do with Brexit and everything to do with the calibre of current politicians and their total lack of ability to do the job. In fact most of them are of your ilk ,worthless millennial minded morons.
If the government made the U-turn based on listening to the public, surely they should be listening to the fact that more than 468,496 people have signed a petition asking for a General Election?
Wasn't listening it was fear what would happen in any election.
Selective Hearing.
They didn’t listen to public , Lizz Truss only u turned when her own MPs said they wouldn’t support her and she was likely to be pm no longer. It was simply self interest.
@@dianeshelton9592 MPs who may have been looking at the growing tally on that petition 😁
We’re do I sign as well
Also: not a peep out of them about Banker’s Bonuses or Windfall Taxes on the power companies who have been profiteering! There’s a lot more that they need to do to even raise themselves up to the level of deplorable
Agree.
Who does it benefit?
HEDGEFUND MANAGERS
.......
After she introduced this policy one of her mate made over 100 millions.
Saavy?
.......
Liz Truss might not seem that bright.
After few days in her job she can retired with nice fat kickbacks.
Travel the world. Sipp pinacolada and do Nada.
Great woman. Looking up to her.
@@ConstructiveMinds100great prediction! Those famous “think tanks” are already flying her around the world to shill their propaganda.😂
Who will be happy? Kwasi's mates who bought ponds at $1.04 on Friday and sold them for $1.12 today.
Indeed, I wish I had dipped my toes in the water.
whilst my pension fund i’ve built over 45 years is now shagged
....it's the price of the disastrous lockdown....it was inevitable..
illegal market manipulation and insider trading
Kwasi Kwarteng announces mini-budget, markets reacts a very predictable ways, GBP falls, Kwartengs previous boss with whom he had dinner just a few months back makes 220 million shorting GBP. Coincidence? Maybe, but a bit too close for my taste.
indeed, questions need asking
It could be a coincidence, I highly doubt it but maybe.
no coincidence, who was at the champagne party should all be named and investigated. the u.k has become a third world state with the same third world levels of corruption
@@madaknevarski6478 Levers have been pulled and people have made money. The right questions will never be asked because those with the profits don't want them to be asked.
Don't forget the timely champagne cocktail party with his financier mates.
When Michael Gove is the most sensible person in your party🤣🤣🤣🤣🤣🤣🤣🤣🤣
As a German, I never heard of him, so I googled his name. The pictures of his face had me giggling. How many lobotomies did he undergo?
Says it all, doesn't it. Well said.
The Tory party has finally descended to the point where Michael Gove is the intellectual and Jeremy Hunt is the moral voice. I think I just threw up in my mouth.
HAHAHAHA!
Even with the Great Depression that's coming, that was a funny comment!! 👍
Gove is in self preservation mode. Nothing else.
Trust may have already gone, but Truss hasn’t, unfortunately !
But definitely needs to go and take the Chancellor with her!
I was under general anaesthetic this morning having a heart operation for my AF...... waking up to this is hilarious!!
Hi l wish you well in recovery, k to have AF could l ask what the opp involved and expected results
So glad you had a laugh🤣
As long as you wake up James ..................Well Done!!
Pray you get stronger.
Laughter is the best medicine.
"It's not a u-turn, it's a change of direction" 😂🤣😂🤣😂
360 degree one.
180 surely? 360 would be a full rotation.
They are still doing what's best for themselves and their mates so in that respect they are heading In the same direction I guess?
I heard that too, they were going to do a thing now they are not…polar opposites
BBC news described it as a "change of heart". However, Kwarteng is clearly still wanting this policy. His response was basically sorry, not sorry which is why he describes it as a distraction,
@@Banquet42 wait a minute , she'll be back at it in a week
The fact they tried to withdraw the top rate in the first place shows how out of touch Lizzy and Co are.
Truss said she was prepared to be unpopular? As soon as she does, she u-turns and in doing so both actions shows their true colours.
Who does it benefit?
HEDGEFUND MANAGERS
.......
After she introduced this policy one of her mate made over 100 millions.
Saavy?
.......
Liz Truss might not seem that bright.
After few days in her job she can retired with nice fat kickbacks.
Travel the world. Sipp pinacolada and do Nada.
Great woman. Looking up to her.
Kick the Tories out now
....buts what the alternative Johnny boy..?
@@chatham43 open your eyes. Stop being a turkey voting for Xmas.
@@mihangelap-williams9871 not all of us, I assure you 🙃
@@chatham43 how about someone OTHER than the Tories? There are other political parties, you know.
I hate the tories just a disgusting party no empathy or caring bone in them
Premeditated U-turn? As you said, some people made lots of money with it.
...some always do....they speculate whoever's in power.....
Sadly i know of 5 "Working Class Tory Voters" who are absolutely devastated at the U-turn ...unbelievable but true ..
Have you asked them why?
working class tory voters deserve everything they get
They obviously have political Stockholm syndrome
.....don't think he did....
@@buzx1313 they have to defend glaring incompetence.
That lady WAS for turning.
she doesn't turn she spins
That Lady was so quick to turn, you'd have sworn she was in a bad dance movie.
They finally finished me off . I haven't even bothered to read the news about this .
Well done liz , you broke me
Come on dude, one photographer to another, pick yourself up, and get some shots of the removal van outside No.10. ;)
@@STeALtHsVidz I shoot old film cameras , by the time I've metered the scene loaded the film up there will be a new prime minister!! Lol
Not worse as the markets demanded it. By keeping it the market would ensure mortgage rates go even higher then the increases already expected. However, by reversing it the government just confirms in the eye of of public the government haven't got a clue what they were doing.
I'm somewhat confused by this. Hasn't the damage already been done re: interest rates? It's my understanding (and please correct me if this is wrong) that the announcement was made, the pound tanked (was shorted), the BoE printed £65 Billion ish, which will drive up inflation necessitating a further interest rate hike.
dont be deceived, they know exactly what they are doing.
@@steveswangler6373 correct, was deliberately done it to get her rich mates in hedge fund management even richer real quick whilst dumping the debt and cuts on to all of us
Maybe I'm being sceptical, but was this the plan all along?. "Let's give our rich buddies the chance to make a few extra millions, then we'll do a U turn".
I agree.
Not at all, in fact, it is the most likely scenario. They would have been well aware how the public were going to react to such a move. They knew it would affect them negatively, politically speaking, and knowing they only do things that benefit themselves, what else does that leave ?
perhaps they are trying to loose power as fast as possible to hand over to the next government asap. things are just getting worse and worse at the moment and alot of it is their fault but some isn't. The global collapse in finance is only just starting and Tories dont want their name anywhere near it when that happens
Hence Kwasi's pals egging him on at the champagne party, toasting our impoverishment.
Don’t give them the benefit of doubt,it was wrong and now they see it ,incompetence and that’s being polite
Who’s it for? Kwasis personal boss and his colleagues.
Meet with them, tell them something you know will crash the pound, give them time to short it, and then make your announcement. Then after they’ve cashed out once it hit $1.03 dollar parity, then calm the rest of the markets and raise interest rates. It’s an even smaller “we’re gonna be voted out soon, let’s just help our rich mates” and more “let’s just help people I personally know and can help me later”
THIS is what I think as well. I think they know their time is short, they WILL be voted out, and this is securing a bright future for them and their mates after they leave Parliament.
Obama regularly did the same.
@@davidfarmer9118 correct - what’s your point ?
Her entire career is a sequence of u turns, including her views on royalty, her political views and even parties. So she stands for nothing, and is somehow in power? Shame on us all for allowing this to happen
Shame on us. Exactly. WE allow this to happen, and it is our fault. We clearly aren't angry enough yet.
But no one voted her in so how can it be the peoples fault?the publics at fault for voting in the tories thinking that the future would be bright.12 years on we now have one of the worst economic disasters this country has seen.thats what their at fault for not this clown
You are quite literally describing what happens every time the GOP takes power here in the United states.
Very well said James. I feel bad for my old England. You need a real leader!
I have always said that we must mistrust Ms Truss, together with Kwasi, her quasi chancellor, but I never for one second thought that she would be this bad after barely two weeks in office.
I have seldom agreed with Dominic Cummings but he was spot on when he described Liz Truss as "... about as close to properly crackers as anybody I’ve met in parliament."
Yet the majority of Conservative members voted for her rather than, in my humble opinion, the much saner alternative of Rishi Sunak.
Don’t worry…she’ll be out by Xmas and your mate will be in charge then.
I think we all thought he was the much saner alternative, but it seems the best of a pretty slim group to pick from.
That is almost as much of a brain twister as it is a tongue twister.
Well done.
Ah, yes. Risky Rishi Sunak, more than smart enough to do the job, but also a one hundred percent dead cert to steal your organs and sell them back to you in installments. In truth, any Tory would have been a nightmare.
Isn't the Chancellor's name Kamikazi?
Initially the question was “how disconnected are these people to get it so wrong with a tax cut for the already wealthy.”?
Then the question was “where is the justification “?
Then the question was “will you stand by it”?
Now the only question is “How long will WE tolerate being abused by these grotesque people”?
I just love how literally no one refers to her as prime minister, she’s just “Liz”
I don’t call her Liz. I call her something much more colourful!
@@barbra7562 You n me both Barbara. :D
She and Boris before her have demeaned the office of Prime Minister.
EveryoneI know calls her Loopy Liz
Dizzy Lizzie is the polite name I call her, but in private it's 🤬🤬🤬🤬 #@&* !!!
Liz Truss "I'm prepared to do unpopular things"
also Liz Truss
"Not THAT unpopular!"
The main problem Truss has, is she’s just as incompetent as the PM as her predecessor, but she’s not got the intelligence to even play the clown character to cover for some of it.
Why are people shocked,it was plain for ALL to see.Liz Truss is and was always awful
They haven't admitted it was a mistake, only a 'distraction'!
Essentially they created a financial crisis on top of a financial crisis then reversed it after making matters worse than we thought it possible.
This makes Truss' and Kwarteng's rich backers. They will have bought the "pound" when was cheap and, now that the value of the "pound increase, wil selll it and make another profit
Sorry, the opening sentence should read "This makes Truss' and Kwarteng's rich backers very happy"
My assumption is that they realised they would lose a vote on it, and decided U-Turning was less damaging than having their own party vote against them.
....glad you worked it out......
Kwasi Karteng's previous boss, Crispin Oder, has made millions from this. Perhaps that was the reason for this whole farce. It'll be interesting to see if Karteng goes back to work for Odey after the dust has settled.
Doing the U-turn on the 45p rate was the right thing to do, but only because it shouldn't have been even suggested in the first place. It's just sickening at how long it took to get the message after the cataclysm that occurred in the immediate aftermath.
"The government has listened" - and it only cost £65 billion, what a bargain
You think the 45% cut was to blame..lol
@@agt155 You're right. The top rate was only the tip of Kwartengs rip-off iceberg. I'll be interested to see if the other 95% of giveaways to the fat-cats are postponed too.
pedalpusher2008 Spot on, perhaps compared to Test and Trace.
@@agt155 You don't? 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Actually it has already costed £500 billion in lost assets since Truss has come into power ...
Pity they didn't listen about the windfall tax for the oil & gas companies who made unexpected billions in profits at the expense of families and their suffering
They haven’t listen Lizz thought she might loose her job. Self preservation
Stop moaning Minnie-you’ll be getting your rebate this year
Should probably make them sell a percentage produced at an agreed price the same way practically every country in Europe does. So weird how we're the least reliant on Russian energy but have the highest increase in prices and this never gets brought up.
@@nick1065 what that rebate the tax payer will be paying back for the next 20 years you mean?
Has anyone pointed out that the cut to 40% was "for growth" one minute and now it doesn't matter because "we listened"? So it can't have been essential to growth in the first place otherwise you couldn't abandon it.
Theresa May is PM
(I thought, things can't get any worse)
Then come along Boris Johnson!
(I thought, OK, now things can't get any worse)
And then come along Liz Truss
(I'm thinking, Oh my goodness, it got worse! Much worse!)
Gotta laugh haven't you.
....Keirs on the horizon working out what a woman is.....
No there is nothing at all to laugh about we have total incompetents in Gov.
@@chatham43 because thats the issue we need to worry about? Tell me, what problems in this country have anything to do with trans rights?...
@@edwardmeaburn7658 I laugh to keep sane
Well if they are getting rid of things which are unpopular Liz Truss should start packing
Cameron, May, Johnson, Truss - the descent of man.
So the bank of england spent 65 billion for what??
To make a load of £££ for the Tory kleptocrats who shorted it in the first place.
That £65 billion will cost everybody in inflation, but who cares when you just made millions shorting the pound.
I’m thinking Russia isn’t the only place due for a revolution.
As a senior doctor you needed a long time to earn your first money. Now you earn over £100,000. The NHS wants you to do more work because we have too many vacancies thanks to 12 years of Tory austerity and carelessness. Anything you earn reduces your personal allowance so that you work almost for nothing. At £200,000 it may be worth it again but you never earn that much.
The more people in the tory party who are 'furious' with Liz Truss, Kwasi and the whole Mean Girls Gang, the better. We need the Tory party OUT of government office -- ideally yesterday, but as long as it happens by the next election, there might still be hope that this country isn't going to slide into the toilet.
The damage is already done. Pound fell. Somebody made money.
Remember when we laughed at America?
Their hedge fund friends
45p rate was just to distract from the bankers bonuses. Why they never costed it, the u-turn was planned from the start.
and cost us 60bn to sort out.
And it cost 65 billion from BOE
Humiliating as it is, a U-turn was the only option. A U-turn can be forgotten; while a continuous plunging of the pound can not. The Bank of England wouldn't be able to bail out Government forever.
I was waiting for your take on things!
Trying to keep up with what's happening in UK here in Australia but becoming 'dizzy'.
Lol thinking this will give my country Scotland independence
@@Firestarter12 Can you take the North of England with you? Actually, let's all become independent and form a new nation--all of us outside London--and leave Londongrad to its own devices.
@@paulgibbon5991 your more than welcome, Scotland is open unlike South England, I have family in Leeds
The country is apathetic - here in France where I live the government would have been lynched by now.
i haven't seen any French politicians hanging from lamposts lately
Oh yes please Mon ami!
The French monarchy was unavailable for comment.👍
Perhaps in the past but you only have to look at the French’s response to Covid to see that their old ability to rebel and defeat any government proposal they didn’t like is long gone.
Whatever the French government has been putting in the water has done it’s job - the French now just roll over and let the government do whatever they want.
Is so disappointing - I used to love Frances ability to tell their government to get stuffed.
A case of shaken not stirred, can't wait for the next episode 😀
Completely right James, they propose it and then realise that it was totally out of touch, big gaff, and then retract it ! Pantomime time early !
James O'Brien is exquisite.
...not a word I would have used..😊.....
Labour, Labour, Labour !!!!!
...rah...rah...rah...!!!
Four doctors are talking. "The Indian doctor says, medicine is so advanced in India that we cut off a man's liver, put it in another man, and in 6 weeks, he was looking for a job."
The German doctor replies: "That's nothing. In Germany, we took part of a brain, put it in another man, and in 4 weeks he was looking for a job."
The Russian doctor replies: "Well, we took half a heart from a man, put it in another's chest, and in 2 weeks he was looking for a job."
The Britain doctor laughs: "You are all behind us. A few years ago, we took a human with no brain, no heart, and no liver, and made a Prime Minister. Now, the whole country is looking for a job!"😂🤣😂
🤣
Thats gold.
Hahahaha I love it 😂😂👍🏽👍🏽 comment of the day
😂🤣🤣
British humour in full glory, very apt for the current situation in the U.K.. 👍✅😂😂😂🤣🤣🇬🇧🇬🇧🇬🇧🤣🤣🤣
Scrapping the 45p rate crashed the pound and made some people very rich, a week or so later, the u-turn has meant the pound has rallied and made some people very rich. Anyone here sensing a scam of epic proportions?
Kwasi Kwateng's old boss is one of them 👀
It only benefits Truss because she wasn't going to get the budget through parliament and that would inevitably have meant resignations from both her and the Chancellor.
That's why she did it. So yes it's made it worse today, but it (possibly!) avoids something even worse for those two individuals.
Who does it benefit?
HEDGEFUND MANAGERS
.......
After she introduced this policy one of her mate made over 100 millions.
Saavy?
.......
Liz Truss might not seem that bright.
After few days in her job she can retired with nice fat kickbacks.
Travel the world. Sipp pinacolada and do Nada.
Great woman. Looking up to her.
What goes around comes around.
Just imagine if the speculators also bet on the U-turn 🤔
Yes me thinks that's called insiders information
I wasn’t a fan of the Tories before this debacle, but now I’m still not a fan of the Tories
The scariest point was Kwarsi's speech when he said they planned this 10 years ago and then quickly added 10 days ago ?
Was this all pre planned long ago 🤔
yes and no... Him and Liz truss co-authored a book about these policies and have been working with think tanks who wrote these policies about ten years ago...
But no... because It seemed too much like a slip due to tiredness...
I'll bet the last ten days for him have felt like ten years... as he has been dragged kicking and screaming back down the path he chose.
How long have the last ten years felt for the rest of us?
"Britannia Unchained" is the book they Co-wrote which outlined their quite odd economic ideas.
@@Anon-xd3cf Oh !
Do you mean the 55 tufton street think tank who claim to work for the tax payer , but are actually linked to many wealthy lobbyists and businessmen 🤔
Please interview some of those Party members who thought she was the better bet.
It seems that every decision these tories make they U-turn on it and claim it was a mistake. What a mess.
and their mates make millions. illegal trading
It’s almost like it’s not an accident 😅
And now the postal workers are going on strike !
"Deliver, deliver, deliver !"
"It's not a U-Turn - it's a change of direction"..... Tory MP Lee Anderson!
350° < 360° 🤓
I think one of the reasons was that it wasn’t going get voted through.
Being of age and how to manage the sequence of returns in those early periods is what seems quite scary in the current market. The market is never a loser in a twenty year cycle, but the 2000s decade scenario scares me and could really disrupt my retirement. When you are no longer accumulating but withdrawing its hard to be anything but cautious.
The biggest mistake you can make when investing is to think that you are smarter than the market. It’s almost impossible to time the consistently, you will miss out on great opportunities if you do this, simply DCA into high conviction stocks and let your position grow.
I think my major problem is confidence, i keep finding the correct stocks but after a pull back especially a strong pull back i get out…
For new investors, getting started can feel overwhelming. Risks loom large, and complicated, unfamiliar financial jargon can be intimidating.
This is exactly why I invest through an expert ! My broker Caroline Renee Steiger is able to find opportunities in any market with her Growth Stock Strategy. To me it’s by far the best way to build long term wealth while managing your risk and emotions.
🎉Wealth should be created by investing to create more wealth. Income is the fruit of wealth. If you do not do that, you will not have more income.”🎉
Well said👏👏
"They've now added weakness.. to incompetence" BRILLIANT 🤣
Car crash, total lack of judgement.
Unfortunately it was deliberate their whole strategy has been since brexit to isolate remove rights and run down services. It's purposeful they even wrote a book years ago, Brittania unchained. The erg is running the show d the psychos are the prior and current front bench. Check out Coffey and Mogg statements simply terrible
The issue here is a complete lack of judgement.
What if this were a different scenario like a war, nuclear threat etc?
I had a career in business and if I'd have performed like this, I'd have been fired.
They might be new to their posts, but they should go and go now
👏🏾 I couldn't have put it better myself!!
'have'
@@ethandrood you are correct, excuse my poor grammar
So they cost the country £40+ billion pounds for absolutely nothing in the cost of living crisis.
We have a government far too content to paper over the cracks and turn a blind eye, Truss wanted to see if she could get away with draconian policy making, the U-turn isn't a change of heart it's an act of self preservation.
Or the entire situation was concocted in order for some insider trading to take place by Kwasi's mates who shorted the pound.
@@michaelohara49 That hadn't occurred to me but seem highly likely given the company she keeps.
@@michaelohara49 which really ought to lead to an investigation, so blatant what they are doing
@@kevinroberts3765 It's literal robbery directly in front of our faces. It's public knowledge, just look up the people who made huge fortunes from this and they are all members of the inner circle of this monstrous Government. There will be no investigation, who's going to order it ? The people who would have to order such an investigation are the very people robbing the country blind. This is barely the tip of the iceberg, the most openly corrupt Government the country has ever seen. Actually outrageous what they get away with.
@@kevinroberts3765asking thieves to investigate themselves is a foolish endeavor.
I'm sure crispin odey will be pleased with all the money he made from shorting the pound
Not really he's a tory probably got a promise of one of those 1 hour a month "consultancy" jobs Tories get in payment for all their dodgy activities
Best thing that could happen to the Tories and to the country is their political oblivion. Then they'll have some time on their hands to work out what they stand for.
James thankyou for your brilliant summary of someone who may be the worst PM in history
Truss had agreed the NI increase as essential to elderly social care. Then decided it wasn’t.
She extolled the virtue of cutting tax for high earners as essential to create growth. Now she is saying it isn’t.
She will defend any u turn if she thinks it will keep her in office,
The 45p rate was just a dead cat slapped on the table to draw attention away from the bankers bonuses. If they hadn't done this the news would be about how giving bonuses back to the bankers is the one and only brexit bonus to date.
populism 101
Pretty sure she does not make the decisions.
These are my principles, and if you don't like them I have others.
I wouldn't be surprised to see her as a Labour MP in the next parliament. She seems to be doing all in her power to ensure a Labour victory after all, and she's already tried the liberal democrats and the brexit party.
I’m really worried about my Mortgage next year when our 5 year fixed rate ends, looking at BOS it states our payment will up more than £300+ per month 😢 I absolutely hate the Tories for this!! Thousand of people will not be able to afford this, how can the BofEngland reduce the rates? Help!
Mortgages are still cheap. They probably need to be a percentage higher
.....why hate the Tories...why blame them.....you don't think interest rates would have gone up under Labour....this is the price of lockdown......
All this has cost us £65 billion. The Tories loading us with debt for years to come.
Four things; that they weren't properly consulted in the first place.
It's not a u turn. Just another go around the Magic roundabout.
When are these governments going to remember they work for us
Valid point ur right this is an appalling government they couldn't care about working people who are struggling and can't pay bills going to food banks what an accomplishment. They can't admit they got this wrong actions speak louder than words madam ur not competent as a pm your not going to be coming out of this unscathed.
Did anyone expect anything different from Truss and co? Kick them out now.
Adding weakness to incompetence.
I was looking forward to James's take on this!
I very rarely agree with Mr O'Brien.
This is definitely the first time I have listened to one of his diatribes from start to finish.
His roulette analogy is spot on.
This really does scare me - I'm 56 and my politics have just undergone a seismic shift.
Well spoken Sir. What worries me most is what happens next.
You ok with other people suffering. Just don’t hurt you. Tory philosophy to a tee.
@@davidtracey5471 Don't gloat. That's not how change happens. We need more people to wake up and vote against this nonsense, and gloating and berating won't help. I get it, I'm tempted too, but we've got to be more welcoming to people who want to stop being Tories.
@@goinggoinggone535 I’m certainly not gloating. Just pointing out the Tory mindset.
@@davidtracey5471 Sadly the minute it doesn't adversely affect David he will be back in the Tory fold.
@@rishispewcack5745 I would be amazed if a 56 year old totally changed his or her politics. This isn’t a teenager maturing and evolving. Just to add I’m Scottish and I’m sick of English Torys And English Tory voters. We have or own branch here but they barely get 20per cent of the vote, so they are practically irrelevant.
So right 👍
For once I agree with you o brien
And all it cost was £65 billion, that could provide 270,000 homes every year making the government £11 billion at the very least, in revenue every year plus the money to build another 270,000 homes the next year, when they are sold another £11 billion in profit and they can build 270,000 more etc.
£65 billion “spaffed up the wall” would Johnson use those words?…
Not a U turn, a delay in policy.
In any case, even though appalling, this was not the real issue with the budget.
The real issue is to have borrowing at unsustainable levels.
This is what market see.
The problem is the media which is why Germany suffers far less
Anything that makes these clods more unelectable come the General Election is excellent.
Any1 earning sub 50k per annum will feel the pain.