Liz Truss lost the Conservative economic lead | The New Statesman
HTML-код
- Опубликовано: 10 окт 2024
- "From 2007 till about the end of 2022, the Conservative lead on the economy went almost unchallenged. It was only after Liz Truss that the narrative changed."
Subscribe on RUclips: / @newstatesman
--
The UK general election will take place on July 4, 2024 - and the New Statesman will be with you every step of the way.
Our journalists including Hannah Barnes, Andrew Marr, Rachel Cunliffe, Freddie Hayward and Ben Walker will bring you analysis of the Conservative, Labour, Lib Dem, SNP, Green and Reform election campaigns as well as the best polling analysis and reaction from around the UK.
The 2024 election will be the biggest shake-up of UK politics in years. Subscribe to the New Statesman on RUclips to stay informed.
Watch all the latest episodes of the New Statesman podcast here: • The New Statesman Podcast
--
The New Statesman brings you unrivalled analysis of of the latest UK and international politics. On our RUclips channel you’ll find insight on the top news and global current affairs stories, as well as insightful interviews with politicians, advisers and leading political thinkers, to help you understand the political and economic forces shaping the world.
With regular contributions from our writers including Political Editor Andrew Marr and Anoosh Chakelian - host of the New Statesman podcast - we’ll help you understand the world of politics and global affairs from Westminster to Washington and beyond.
Subscribe on RUclips: / @newstatesman
Sign up to Morning Call, the daily UK politics newsletter from the New Statesman: morningcall.su...
Subscribe to the New Statesman from just £1 per week: www.newstatesm...
Strange, because on average the economy grows about the same under Labour as under the Tories. In fact it’s slightly better under Labour. Just shows you the power of the right wing media in the UK.
Conservatives are very good at playing on ppls fears , and that’s what conservative media does, it’s all fear based . The US has a roaring economy right now but conservatives have convinced ppl that were in a recession.
@@olnbgy4444 The economy is doing fine in one sense, but there has indeed been a decline in people's economic well-being compared to their parents generation. It's the fault of Reagan's ideas on fiscal retrenchment, on union-smashing, on de-regulation, etc.
@@scallamander4899exact same thing happened with Thatcher. They were two peas in a pod.
Greedy corporations not paying their employees right amount
When voters say that economy is an important issue, they rarely actually know anything about the current economy. It’s based more on how they feel, which is often shaped by media and politicians. This happens in quite a lot of countries like the US and even Finland.
@@scallamander4899is it? If we have records immigration and low growth then GDP per capita can be going down.
I'm fed up about hearing very rich men moving their money due to politics. What kind of democracy do we live in where they have such influence? The media's obsessing over these individuals is sickening.
This is where the real power lies. Whoever is most likely to get into government gets given the money. This is to influence law in favour of these individuals and their interests, which is basically open bribery but they call it lobbying.
With this it's not just big money it's normal people, whether or not it was the sole cause or not the truss budget fucked peoples mortgages
Because they decide our fates. If they want to force an economic crash, they will. So politicians and media stay in line. It's disgusting and insidious, and reeks of just following orders, but thats the reality we live in.
aside that this also just untrue...poor @newstateman propaganda.
2008 crash caused by sunak and his banking mates.
Giving him too much credit. He didn't cause anything, but he did benefit from it
2008 was an American banking scam that rocked the world.
@@lingeary2654 fishy rishi worked in the US hence he has a green card.
@billybob-jp7eh He graduated from his MBA in mid-06. Hard to see how he masterminded a multi-trillion dollar US real estate bubble at the 18 months between then and Bear Sterns' collapse but ok...
No, Sunak didn’t cause the banking crisis. You have been conned by a misleading Labour advert.
A fourteen year Track Record of economic failure including Brexit finally just struck people as absurd especially given those the Tory Party serve have made obscene profits.
Don't forget Partygate and Covid
The most funny thing is that Tatcherism was one of the elements that made 2008 crisis possi.
Don’t forget that financial deregulation in the UK and USA caused the global financial crisis of 2007-8. Tories good with the economy? It should have been glaringly obvious that they are not🤨
That was Brown as chancellor actually…
@@alst4817 Yes. The financial system fell down on his head, but the cause of that collapse was ‘derivatives’… wildly risky ‘financial products’ whose risks were obscured even to those dabbling in them. Financial innovation occurred beyond the purview of the regulators who had been massively weakened by Thatcher’s self-styled Big Bang.
I was researching banking in the early ‘Eighties and older bankers were deeply worried about the possible consequences of removing controls would be. And they were right.
One more time: deregulation is harmful, not helpful to the functioning of markets, and in the case of housing, deregulation caused 72 deaths. It’s no good pretending otherwise; indeed it is dangerous.
It's what MPs do they bet against each other with our wages @@stephensmith799
For me it was boris
Spot on. The centre right (for better or worse) are almost always seen as better manages of the economy. If they lose that advantage they are pretty stuffed.
I think also with the members it was not much the econermy at first it was that turd was made PM without any democratic process in the party
The US should learn from the UK
Probably one of the few in a safe enough seat to have a chair on parliament when the music stops absurdly nuts.😢
Lol. Happened looooong before her.
We should thank her
The reason Labour overtook the Conservatives is because the Cons betrayed their own voters. I was a Conservative member and though I wasn't happy with Boris handling if Brexit. I though he should have been left to serve his elected time. However, when they removed him I voted for Truss because I thought she had some good ideas. Afterwich, the econmy tanking was blamed on her, but it was really caused by the Bank of England dumping a lot of gilts onto the market at the same time and this was no doubt politically motivated. They then got rid of her and replaced her with twice rejected Sunak, only this time without a members vote. Thats when I and many other left the party and their support has now fallen off a cliff. Therefore, it was the Cons own arrogance that lost them support, nothing that Labour did to earn it.
Cutting taxes during a period of high inflation => even more inflation. This is what caused the banks and pension funds to panic and the Bank of England had to do its best to fix it.
You don’t rev the engine when it is already overheating
This is 1st year economics
Liz Truss is a trained economist. She ignored fiscal policy 101 because she wanted power and she seems to have understood the people voting for her (apparently) don’t understand the first thing about how to control inflation
@@jacklevell9597
Before you criticise Truss or the voters who elected her, you shoulder consider that perhaps your own opinion is rather naive and condescending. Leading economist Julian Jessop said that interest rates have a far greater effect on Inflation than tax rates. And this high inflation meant that the Government had collected around £8billion more from tax payers making a very strong case for tax cuts. After Truss made her announcement the Bank of England simultaneously dumped a huge trunc of gilts onto the market, and it was this that crashed the economy, not Truss.
Was this a political move by the Bank to get rid of Truss ? Many think it was, as was the installing of twice rejected globalist fan boy Sunak in her place, this time without his inevitable rejection in an election.
Now the electorate are back in control and are destroying the CON-servatives who betrayed them to serve their Globalist masters. If you still don't understand, just sit back and let those that do finish the job.
@@johnbrereton5229 does Julian Jessop a “self employed” leading economist says that unfunded tax cuts during a period of high national debt and high inflation is a good idea?
It’s an unorthodox thesis. Imprudent. One might even say reckless.
You can always find one pet economist to support any idea.
I’m with the economists who advised the bankers who advised all their clients to head for the door ASAP causing a crisis that the Bank of England had to fix in order to keep markets operating.
Or it’s a conspiracy because bankers and hedge fund managers all think tax cuts bad all the time.
One of the two.
@@jacklevell9597
Economist never agree on anything and as the Marxist Greek economist, Yanis Varafakis said: Economics is just politics masquerading as Science.
So if course these political economist will support the Bank of Englands position. Who of course could fix the problem, after all they created it ?
Roughly the same position here. After Brexit (badly handled) and being given an 80 seat majority, it became clear that going back on their promises to voters was not circumstance but choice. The replacement of the leader who won the election with a man who didn't even win the membership vote was the icing on the cake.
Did you just call Lizz Truss a bender? 😂😂😂
I think he was referring to Kwasi 😊
Good old crazy lizzy
She mildly deviated from the orthodox system and was cast out by banks. Not sure its the slam dunk people think, even if you disagree with her.
@@TheOriginalFishPondit was a coup
All because the Tories ditched Boris for Liz Truss - good move…
They didn't ditch Boris for her. It was for Rishi. Liz got in the way 😂
So really, we should thank Truss for showing the smooth brained that conservatives aren’t better economically.
Australia had a Labor government during the credit crisis and they managed it so well, including resisting extreme deregulation before the event despite enormous pressure from the banks, they didn’t go into recession. The only modern democracy not to do so. I’m sure if Corbyn had won the economy would have probably tanked but social democrats like the current UK Labour Party, as opposed to socialists like Corbyn’s cabal, have a record of excellent economic management over the last 20-40 years whenever they have been in power. Conservatives and their modern descendants, the swivel-eyed feral right, have not.
The Owen Patterson scandal was the turning point.
Perhaps Liz’s actions were a blessing in disguise. Given Rishi’s current positioning on Tax and speculative funding, perhaps we would have seen the same action but later on (to shield from election headlines) had Rishi been in place instead of her. So the question is did Liz’s actions let us get a read on the Conservatives with time to spare for voting decisions.
Fousand
Labour getting big business to hold back investment
How would Labour have the influence to do that?
@@stevec6427 the Blair Institute
Gordon Brown?!?!
What's your favourite word.
Narrative?
P o r k. M a r k e t s. 😁
Still hard to believe Truss happened
We ❤ Truss.
Vote Reform 🇬🇧
Vote for the guy who gave Britain the brexit disaster? How will that make things better?
It is the leader of Reform's turn now .
Rubbish . It was your PERSONAL fault for kowtowing to lockdown
grow up
@@kanedNunable why is the State of Kansas suing Pfizer for billions?