Discover and read the best of Twitter Threads about #kwarteng

Most recents (6)

Why #Kwarteng should have sacked the #Governor of the Bank of England.

/thread
Kwasi #Kwarteng would not have realised, when he first announced his intention to be a tax-cutting, pro-growth, fiscally-responsible #Chancellor that he had immediately set in motion the daggers that would be thrust in his back 38 days later.
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The Bank of England, guardian of the nation’s wealth and cornerstone of its economic management originally started life as a private company, funded by subscription under Royal Charter in 1694, as a means to finance the public purse, depleted by various wars.
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Read 39 tweets
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
@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
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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