Discover and read the best of Twitter Threads about #obr

Most recents (7)

Who really runs this country now ?

@Conservatives Image
#Ready4Rishi & #Hunt call for tax increases and spending cuts which risk causing a spiralling recession plus worse 'austerity' than under Cameron & Osborne is all driven by an entirely arbitrary figure conjured up by the #OBR namely the £60 Bn 'black hole'

But ..
This gives the entirely false impression that there is some objectively measurable deficit in the public accounts which needs to be filled, resembling an overdraft on a personal bank account !

What matters is the debt/GDP ratio and #UK has the 2nd lowest in G7 after Germany

...
Read 4 tweets
Reflections on the morning after - and especially the markets… 🧵

It may well take some time for the dust to settle on #KwasiKwarteng’s first #Budget (yes, 'Budget’: if it looks like a duck, walks like a duck and quacks like a duck, then it’s fair to call it a duck)...
The initial reaction from most economic commentators and in the financial markets has been a loud boo! There are some things I would have done differently. But the overall strategy is sound, and sentiment should recover as the economic benefits become clearer...
There are two aspects I particularly liked. One is the emphasis on breaking the ‘doom loop’ of weak economic growth and rising taxes, both with tax cuts and – at least as importantly – structural reforms on the supply-side...
Read 16 tweets
Politico London: #Chevening chat: Over the weekend Truss was holed up with close aides in Chevening House, the grace and favor home she has access to as foreign secretary, nailing down whom she will put in her top team if she wins, and which policies she will pursue /1 #Truss
/2 Allies were being tight-lipped about the outcome of the away day last night, insisting there is “no complacency,” but that it is right that preparations for No. 10 Downing Street are being made.

Not so fast: Hope springs eternal over at rival #RishiSunak’s campaign HQ,
/3 where his team insists it’s still “all to play for.” Not nearly as many people have voted as people think, an ally tells Playbook. One bold Cabinet minister backing the former chancellor optimistically told the Observer he believed #Sunak still had a one-in-three chance
Read 13 tweets
📢#Spendenaufruf:
1994 stirbt Tochter Jasminka der Familie J. bei einem Brandanschlag auf eine Notunterkunft in Köln
2021 droht der Rom:nja-Familie J. die Abschiebung nach Serbien (1/3)
👉opferberatung-rheinland.de/aktuelles/deta…
#GadjéRassismus #Abschiebung
Dragan J.:„Fast meine ganze Familie hat schwere Verbrennungen, meine Tochter ist gestorben und dann sowas. Da muss man das alles durchmachen und dann sagen die, ihr müsst wieder dahin zurück wo Krieg ist. Das ist eine Katastrophe“.(2/3)
#Spendenaufruf #Abschiebung #GadjéRassismus
Mehr als 27 Jahre: Abschiebeandrohung nach Serbien, Unsicherheit & ohne Gerechtigkeit
In ständigem Austausch & Rückkopplung mit der Familie organisiert die #OBR eine #Spendenaktion.
Unterstützen Sie die Familie J. jetzt mit einer Spende!
#Abschiebung #GadjéRassismus (3/3)
Read 3 tweets
FWIW, I’m relatively relaxed about the fiscal costs of #Covid: borrowing will drop sharply as the economy recovers, the #debt burden is manageable, and there’s no need for #austerity to pay for it.

But this isn’t a green light to abandon fiscal responsibility altogether… (1/12)
For a start, the long-term outlook is more worrying.

The #OBR’s Fiscal Sustainability Report (July) includes scenarios where unchecked increases in public spending on health, adult social care and pensions could see debt balloon to more than 400% of GDP in 2070... (2/12)
In the meantime, even if the government doesn’t face the same financial constraints as a household, high public spending and borrowing still has other costs, including the poor allocation of resources and the risk of runaway #inflation… (3/12)
Read 12 tweets
FWIW, I’ve been comparing my UK economic forecasts with those of the #OBR. There is a much more positive story than the Chancellor told in Wednesday’s #SpendingReview #SR20 📢

Let’s start with the near-term outlook… (1/8)
The #OBR assumes that the economic impact of #lockdown2 will be ‘three-fifths’ that seen during the first lockdown, when #GDP fell by 25% in March and April. This means that lockdown2 would take the level of #GDP back to 15% below its pre-Covid peak… (2/8)
Given that #GDP was 8.2% lower in September than February, and assuming little change in October, this is consistent with a fall of around 7% m/m in November, which is what’s in the #OBR’s ‘central forecast’. This seems about right to me... (3/8)
Read 8 tweets
#Tories Election Cock-Up Chaos so far - a continuing series :

01 - #Tories admit and apologise for a doctored, misrepresentative video of Kier Starmer. Tory MPs like @JohnnyMercerUK leave it on their feed and actively continue to spread.
@JohnnyMercerUK #Tories Election Cock-Up Chaos so far - a continuing series :

02 - #Tories Boris #Johnson gets booed out of Addenbrooke Hospital by staff and patients alike, unmentioned by #BBC, who were right there.
@JohnnyMercerUK #Tories Election Cock-Up Chaos so far - a continuing series :

03 - #Tories MP Jacob Rees Mogg blames #Grenfell victims for their own deaths. It takes him four days before he's forced to retract and apologise.
Read 61 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!