Discover and read the best of Twitter Threads about #Kwarteng

Most recents (9)

THREAD: #Sunak, the man who created this "profound #economic #crisis, seems to have no clue how to fix it - less than #Kwarteng for sure!
cont.
No, I & millions of others are not happy about paying for your mistakes #Sunak!
cont. Image
Not happy because #Sunak is choosing the worst possible route forward, increasing taxation on those who have the least income to spare - remembering the truly rich do not pay income tax... he would know that, wouldn't he!
cont.
Read 10 tweets
#Sunak, Prime M0R0N is going to maintain size of public sector but cut their budget - some same useless resources for even less useless work.
CONT.
#Sunak, Prime M0R0N is going raise taxes, hindering growth, choking business, meaning less money in the economy & raising less revenue for government.
CONT.
#Sunak, Prime M0R0N has shortfall in taxation revenue to fill his black hole; so there will be further increases in taxation as the UK spirals into #recession, a vicious downward spiral heading ultimately to stagflation! CONT.
Read 5 tweets
Se pensate che il caos politico sia all'ordine del giorno solo in Italia allora non sapete cosa sta accadendo in Inghilterra, dove la premier Liz #Truss ha appena licenziato il suo Cancelliere dello Scacchiere, l'equivalente del ministro dell'Economia, Kwasi #Kwarteng. Image
Trattasi di mossa disperata da parte del primo ministro, decisa a sacrificare il suo uomo dei conti per provare a salvare se stessa. Dopo poche settimane a Downing Street, infatti, i Tories che l'hanno issata alla guida del partito sembrano averne già piene le tasche. Image
Nei corridoi di Westiminster gira voce che 20 e + parlamentari siano pronti a chiedere le dimissioni di #Truss, favorendo l'ascesa di un ticket composto dall'ex Cancelliere dello Scacchiere, Rishi #Sunak, e dalla leader dei Comuni, Penny #Mordaunt. Image
Read 7 tweets
In a response to Richard Murphy's blog posted over the weekend, I think this is very insightful as to why the Tories are being so #cruel over #welfare #benefits and #CostOfLivingCrisis Support (a 🧵)... /1
/2 There is a new comment on The #Tories are now the most #rightwing governing party in the developed world:
"It could be worse than that. Maybe the rather tepid move to Labour in the polls is because of something darker.
Read 22 tweets
Truss refuses to rule out public spending cuts as she defends substance, but not presentation, of mini-budget [and throws Chancellor under the bus]
Here are the main points from the Liz Truss BBC interview with Laura Kuenssberg.
theguardian.com/politics/live/… #TrussFails #TrussMustGo
/2 #LizTruss admits she should have ‘laid ground better’ before mini-budget and says cabinet not consulted about 45% top rate #TaxCuts : Truss defended the government’s controversial mini-budget in its entirety, accepting that the presentation could have been improved
/3 , but giving no indication that she wants to change the substance of it. Asked if she was committed to getting rid of the 45% top rate of tax (the most controversial element), she said she was.
Read 9 tweets
@UnrollHelper "Liz Truss’s and Kwasi Kwarteng’s 2012 free-market treatise Britannia Unchained has shot up the sales charts, hitting the top spot on Amazon rankings for books on “economic conditions”. It costs £19.55 for the paperback."

Read/Download FREE here 👇

pdfdrive.com/britannia-unch…
@UnrollHelper Ought to come with a health warning for the nation's economy!
@UnrollHelper “The key is to make sure that failure is survivable,” is one of the book’s insights. “In the early stages of a project, failure need not be a disaster.”

"This is likely to provide scant consolation to Tory MPs facing the threat of losing their seats at the next election."
Read 107 tweets
Voters abandon #Tories as faith in #Economic competence dives
Conservative MPs urge Liz Truss’s removal from No 10 after poll reveals British public’s fury over tax plans
theguardian.com/politics/2022/… #KamiKwasiEconomics #TrussFails #ToriesOut
/2 The survey by Opinium – which also reveals that Labour has extended its lead by a massive 14 percentage points in the last week alone, from 5 points to 19 points, and that Truss’s ratings are now lower than Boris Johnson’s at the height of the #PartyGate scandal
/3 Concerns were also voiced by Tories on Saturday after Simon Clarke, a key Truss ally and the levelling up secretary, signalled that #welfare would be cut as part of plans to bring public spending back under control.
Read 7 tweets
The #Tories are now the most #RightWing governing party in the developed world
~ Richard Murphy
This is really quite staggering, but explains a great deal.
taxresearch.org.uk/Blog/2022/09/3…
From the comments: "At least it simplifies the electorate’s decision at the next election. It’s becoming a simple binary choice between supporting decency or supporting the contemporary Tory Party, you can’t do both." 👍 #RightWingWrong #TrussFails #ToriesOut
/2 "The Johnson government was further to the left than depicted, whilst the #Labour and US Dems (especially the latter) should be further to the right.

The idea that #Biden leads a centre left government is nonsense."
Read 6 tweets
Really staggering 🇬🇧mini-budget just announced here in London. Ain’t nothing mini about it.

Record-setting borrowing *and* tax cuts. £100 billion price tag. No-tax & spend. Trickle down economics on steroids. Throws fiscal sustainability out the window.

A huge political gamble
The £45 billion in tax cuts just announced, mostly given to the wealthy & businesses, is biggest tax cut since 1972, when Chancellor Barber had his "dash for growth". It's 2% of GDP.

That ended in disaster. It's generally regarded as the most damaging UK budget in modern history
The #Truss & #Kwarteng trickle-down economics policy changes include:

🧐Highest income tax rate (45% for ⬆️150K) abolished
🍾Scrapping cap on bankers bonuses
🏨Scrapping planned increase in corporation tax
🏘️Cutting stamp duty
Read 12 tweets

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