like the queen this thread will never die: in which we ALL resign (ourselves to disgusting miseries to post-boris politics 2022)

Joke announcements like the one aside this is the stuff to watch out for.

Kwarteng says government will legislate to remove planning restrictions 'that constrain growth'
Kwarteng is now talking about supply side reforms.

There will be announcements in the coming weeks covering the planning system, business regulations, childcare, immigration, agricultural productivity and digital infrastructure.

Addressing planning, Kwarteng says the system is too slow.

The government will bring forward a bill “to unpick the complex patchwork of planning restrictions and EU derived laws that constrain our growth”.

Since the Queen passed away there has been a lack of scrutiny on the energy announcements too...

This adds up to a £10,000 tax cut on average for over 600,000 of the richest folk in country. Govt points out this higher rate didn’t exist in Labour years pre 2010 https://t.co/868RMEVJqX

— Anushka Asthana (@AnushkaAsthana) September 23, 2022

Govt pointing out they're going to borrow more than Labour ever did - the difference being they'll also increase austerity.

Kwarteng says the government will introduce VAT-free shopping for tourists.

It sounds like it would be throughout your stay? No details.

How would that even work?

Would it apply to me though hmmmm 🤔🤔🤔🤔

Ask Kwarteng

The Brexit dividend (tourists only)

Just a little big run on the pound lets be cool

The pound is falling. Fast. pic.twitter.com/fc8RPGXN6R

— Ed Conway (@EdConwaySky) September 23, 2022

right now for example you go to bicester village, buy a load of designer label clothes/shoes/handbags, get a form from the shop, then when you get to the airport you go to the tax office and get the tax money refunded. so I guess this new scheme would be like you show you have a tourist visa to the UK and a plane ticket and you don't need to pay VAT?

Sounds like a lot of extra work for shops.

I wonder if it's just for the outlet malls and tourist shops, in which case I guess they are doing the forms anyway

I belive there's a stall in South London that does no income tax no VAT

A massive moment for @iealondon. They’ve been advocating these policies for years. They incubated Truss and Kwarteng during their early years as MPs. Britain is now their laboratory.

— Tim Montgomerie 🇬🇧 (@montie) September 23, 2022

Even if they lose the next election the regulation burning won't be reversed.

In a post-Grenfell world too.

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown, warns that confidence in the UK economy has faded away further following this morning’s announcements.

’Kwasi Kwarteng has set off fireworks with this budget, which collides with the Bank of England’s efforts to dampen down inflation, while sparking a firestorm of criticism about benefiting the wealthy much more than the poorer sections of society.

Scrapping the top rate of tax will return many thousands of pounds to high earners, while lifting the cap on bankers’ bonuses is likely to be hard to swallow for low paid workers on the picket lines, calling for pay rises to help them survive the cost of living crisis.

Streeter warns that Liz Truss’s policies could crash and burn, particularly if government borrowing costs soar further (they’ve already surged alarmingly today).

There are signs that buyers of UK government bonds are becoming even more nervous about the government’s ‘splash the cash’ policies, given the mounting debt pile.

She's going to try to build a giant Amazon fulfillment center on Dartmoor, isn't she? https://t.co/h91I0MPnER

— James B (@piercepenniless) September 23, 2022

GMB: Jobs, jobs, jobs!

Always another perspective

Great to see sterling strengthening on the back of the new UK Growth Plan https://t.co/Ec8tgXkgKd

— Chris Philp (@CPhilpOfficial) September 23, 2022

One of the clowns who got comprehensively and embarrassingly pwned by Mick Lynch iirc.

The Treasury no longer seems to know the difference between unemployment ('jobseekers') and economic inactivity. pic.twitter.com/NcO40FXlhv

— Declan Gaffney (@djmgaffneyw4) September 23, 2022

Here is a thing on the tourist shop scheme

https://www.theguardian.com/business/2022/sep/23/british-retailers-welcome-planned-return-vat-free-shopping-tourists

I don’t get how that’s different from how it is atm

sounds like the scheme was cancelled at some point in the last 5 years - if so, it's the first I've heard of it.

one bit of good news amidst all the awful shit:

Kwasi Kwarteng looks likely to lift a de facto ban on new onshore windfarms after the government said it would bring planning consent into line with that for other infrastructure.

It has been very difficult for onshore windfarms to get planning permission since David Cameron put in place a tough consent regime in 2015. Earlier this year Kwarteng pushed for the restrictions to be lifted but he encountered cabinet opposition.

The regime will now be loosened, with the chancellor’s growth plan stating:

The government will unlock the potential of onshore wind by bringing consenting in line with other infrastructure. The UK is a world leader in offshore wind, with 8GW of offshore wind currently under construction. By 2023 the government is set to increase renewables capacity by 15%, supporting the UK’s commitment to reach net zero emissions by 2050.

Although the government has trumpeted its decision to allow firms to explore fracking further, few experts think it is likely to produce much gas in the near future. Unblocking the potential for onshore wind projects could be a much quicker and more productive way of boosting electricity supplies and helping to bring down prices.

Reeves on the PM + Chancellor "two desperate gamblers in a casino who have run out of ideas". What a crap analogy, no gambler in a casino has ever run out of ideas. Even if they decide to go home rather than hitting the blackjack, then that is an idea.

A nasty slur. The Mexican peso is up 20% against sterling this year. https://t.co/ucz5tvrjnR

— Paul McNamara (@M_PaulMcNamara) September 23, 2022

looks like the fiscal event has led to a monetary event

Looking forward to Reeves not reversing any of this when Labour humps its way thru a minority government with support from plastic bag tax murderers

I hate how everyone is using the word gamble. Including this piece, which is otherwise ok.

https://www.theguardian.com/politics/2022/sep/23/kwasi-kwarteng-tax-giveaway-huge-gamble

The fucking pundit class, the fucking economist class, it is very important they pretend to take Kwarteng at his word that this stuff is intended to benefit "the economy" and not a bunch of plutocrat rentier clients

This is...

Golly.
Markets are now pricing in 5.5% interest rates from the @bankofengland next year.
Up from 4.75% yesterday.
Deutsche Bank saying BoE may need to table an emergency rate hike as soon as next week.
Extraordinary.
And, as I said yday, higher rates are a big, big deal.
Ugh. https://t.co/zaIhLY5xHI

— Ed Conway (@EdConwaySky) September 23, 2022

This is why big brained voters don't trust the other parties on the economy

looking forward to this story being widely reported in the british press

Al Jazeera’s @AJIUnit has obtained the largest leak in British political history, exposing how unelected Labour Party officials smear and intimidate rivals.

Members supportive of Jeremy Corbyn were undermined by party bureaucrats. #LabourFiles

👉 https://t.co/vtr3hzHzfu pic.twitter.com/SGqbejDz83

— Al Jazeera English (@AJEnglish) September 23, 2022

already tired of them going on and on about it

Looking forward to Reeves not reversing any of this

Sources in Labour's Treasury team say they want to look at the OBR forecasts before deciding whether to promise to reverse the additional 45p rate.

In other words, under current plans, this ain't happening any time soon

— Sam Coates Sky (@SamCoatesSky) September 23, 2022

Everyone slags off entryism, but the Revolutionary Communist Party have managed to engineer the collapse of British capitalism so who's laughing now

— Read Patriarchy and Accumulation (@DecolAutonomism) September 23, 2022

Keir Starmer@Keir_Starmer

Tory casino economics is gambling the mortgages and finances of every family in the country.

oh do fuck off. This move further towards neo-feudalism is nothing to do with gambling. This post (like Kieth) was sponsored by bet 365. Anyway I'd much rather go to a "funhouse" and lose loads of dosh on roulette whilst eating free sandwiches than attend a fucking Labour conference.

Betfred, Sir LOTO’s y/n

he almost makes it sound noble, like the Tories are risking it all in a desperate bid to 'save' the country

there is no gamble going on here whatsoever - these policies are locking in the certainty of the rich getting richer. that's all.

god i hate him so much

Looking forward to Mick Lynch returning to our TV screens to excoriate these evil morons.

I briefly put HIGNFY on last night and saw Mick on there, they were making loads of jokes about him "bringing the country to a standstill", must remember never to put that on again.

if the Tories are gambling, Kier, what are you doing?

Gordon fucking Brown's got more interesting ideas than you've got
https://www.theguardian.com/politics/2022/sep/22/labour-considering-abolishing-house-of-lords-if-it-wins-next-election-leaked-report-reveals

I've just not seen a better summary of yesterday than this tweet.

perhaps it's the British genius for compromise that means we can progress to Pinochet's economics without all that herding people into football stadiums

— jamie k (@jkbloodtreasure) September 23, 2022

Imagine the scenes if Labour demonised this budget, called it fascist economics etc.

I miss John McDonnell, just sayin’.