Thread by @Sakura509

@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."

@UnrollHelper "Britannia Unchained is a free marketeers’ blueprint for an assault on tax, regulation and what are described as the “perks” of the welfare state. It is co-authored by three other Tory MPs: Priti Patel, Dominic Raab and Chris Skidmore."

@UnrollHelper "Two weeks before the mini-budget, Mark Littlewood, director of the IEA, told the Politico website he hoped Truss’s new government would go “fairly gangbusters” in its mini-budget. He wasn’t disappointed."

@UnrollHelper "The disastrous economic aftermath and the withdrawal of hundreds of mortgage deals has renewed focus on the IEA’s influence in government."

UK electorate did NOT vote to have right-wing ideology imposed upon UK government to upend the infrastructure underpinning their lives.

@UnrollHelper "The IEA describes itself as the “UK’s original free-market thinktank”. Its income last year was about £2.3m, with about half of its funding coming from individuals and small businesses."

@UnrollHelper "It has faced criticism for advocating deregulation while failing to fully disclose support from corporate supporters, which have included BP, British American Tobacco and Tate & Lyle. The IEA says it respects the privacy of its donors."

@UnrollHelper "It is among a cluster of organisations in the narrow Georgian-terraced streets around Westminster that have helped shape Conservative party policy in recent years. These include the Taxpayers’ Alliance, which says its mission is to “speak up for British taxpayers”."

@UnrollHelper "The offices of the Taxpayers’ Alliance are at 55 Tufton Street, a well-known address in political circles which is also the base of the climate-sceptic thinktank the Global Warming Policy Foundation. The Georgian townhouse also previously housed the Vote Leave campaign."

@UnrollHelper "The property is owned by Specmat, a manufacturing technology company based in Herefordshire. The firm is party owned by the businessman Richard Smith, who has previously donated to the Conservative party."

@UnrollHelper "Some of the economic theories long discussed in these Westminster offices are now being implemented at Downing Street. The IEA has said its role is to “think the unthinkable”, but MPs are now concerned such ideas are being implemented by No 10."

@UnrollHelper "Britannia Unchained also contains a prescient warning. “Government spending has to be responsible, or an economy will suffer in both the short and long run,” it says."

“Governments that lose control of their finances eventually lose control of their destiny.”

@UnrollHelper "Britannia Unchained also contains a prescient warning. “Government spending has to be responsible, or an economy will suffer in both the short and long run,” it says."

“Governments that lose control of their finances eventually lose control of their destiny.”

@UnrollHelper theguardian.com/politics/2022/…

@UnrollHelper "Around the world in Britain, the United States, Asia and the Middle East, there are people with power who are cashing in on chaos; exploiting bloodshed and catastrophe to brutally remake our world in their image. They are the shock doctors."

@UnrollHelper "Exposing these global profiteers, Naomi Klein discovered information and connections that shocked even her about how comprehensively the shock doctors' beliefs now dominate our world - and how this domination has been achieved."

@UnrollHelper "Raking in billions out of the tsunami, plundering Russia, exploiting Iraq - this is the chilling tale of how a few are making a killing while more are getting killed."

@UnrollHelper Read/Download FREE here 👇

pdfdrive.com/the-shock-doct…

@UnrollHelper

@UnrollHelper Recent #Tory UK Governments have been brainwashed by right-wing think tanks and lobbyists in the pursuit of ever more wealth! 🤑🤑🤑

#Truss and #Kwarteng seek to impose ideology of right-wing think tanks upon UK citizens, whilst bypassing Parliamentary scrutiny in the process.

@UnrollHelper #Truss speaks from a script, as did #Johnson and #May before her!

#Tory UK Governments speak only the soundbites prepared by right-wing think tanks and serve only the enrichment of them and #Tory party donors.

NOT government but exploitation of UK citizens.

@UnrollHelper

https://twitter.com/AdamBienkov/status/1576490556100055040?s=20&t=ii2EoM5K3wdE3F6GZF7RCQ

@UnrollHelper "Kwasi Kwarteng ‘ATTENDED CHAMPAGNE PARTY WITH FINANCIERS ON MINI-BUDGET DAY’"

Did #Truss & #KWARTENG and all current ministers, MISLEAD Parliament on 'mini-budget'?

"Guests, which included hedge fund managers, allegedly congratulated chancellor and told him to ‘double down’"

@UnrollHelper "The chancellor is alleged to have given guests information about forthcoming government spending cuts during the event at the west London home of Andrew Law, a financier, on the evening of Friday 23 September."

@UnrollHelper "Kwarteng’s mini-budget earlier in day, which introduced a £45bn package of tax cuts that will mostly benefit the richest fifth of households, triggered economic turmoil – with sterling collapsing to its lowest level since 1985 and Bank of England acting to save pension funds."

@UnrollHelper "The Labour leader, Keir Starmer, has called for the recall of parliament to address the financial crisis."

@UnrollHelper "Two sources said Kwarteng described that day as a “great day for freedom”."

"Another said guests told Kwarteng to “double down” – an approach from which some stood to make profits."

@UnrollHelper "Kwarteng has said he will set out further details of his economic strategy when he publishes his medium-term fiscal plan on 23 November."

NOT GOOD ENOUGH!

When you intend burning the house down, you ought to have the plan ready to present on same day - NOT after the fact! ⚖️

@UnrollHelper "But the Treasury select committee, made up of MPs from all parties, has demanded that the chancellor release a full economic forecast from the Office for Budget Responsibility by the end of October."

"The Treasury has been approached for comment."

@UnrollHelper Evidently, any delay in producing the plan and full economic forecast, may be open to being tainted with the fallout and news reports of the catacylsmic mis-named 'mini-budget' - and likely to manipulation by right-wing think tanks having undue influence over #Tory UK Government.

@UnrollHelper Furthermore, government business affecting all UK citizens ought to be discussed in Parliament with the representatives of the people FIRST and NOT in champagne soirees with financial beneficiaries! 🤑🍾🍸

theguardian.com/politics/2022/…

@UnrollHelper "Multimillionaire and Tory donor Crispin Odey is among the hedge fund managers cashing in on the UK’s market meltdown, saying that his bets against Britain’s government bonds were “the gifts that keep on giving”."

@UnrollHelper "The investor – who is known for profiting from the Brexit referendum by making similar bets – said his position against the pound had “been helpful”, adding that sterling was unlikely to gain substantial ground against rival currencies such as the dollar."

@UnrollHelper "The hedge fund tycoon also described his bet against UK government bonds – also known as gilts – as “the gifts that keep on giving”."

@UnrollHelper "It comes after markets went into meltdown in reaction to the chancellor’s low-tax mini-budget on Friday, which some analysts said reflected concern about the prospects for the economy and rising debt levels in the run-up to the next election."

@UnrollHelper "While the chancellor, Kwasi Kwarteng, previously worked as a consultant for Odey, the fund manager denied that he has benefited or gained any advantage as a result of that prior relationship."

Naturally, but he cannot deny that he was an early influencer of #Kwarteng's views.

@UnrollHelper "Odey is also a well-known Tory donor, having channelled £870,000 into Brexit campaign groups, including Ukip, before making an estimated £220m profit by shorting the pound and government bonds which collapsed following the leave victory."

@UnrollHelper "He also donated £10,000 to Boris Johnson’s Tory leadership campaign in 2019."

Just another well placed investment for future benefits!

Given that #Tory ministers appear open to manipulation by right-wing idealogues, for a price, might this be a national security risk? 🤑⚖️

@UnrollHelper theguardian.com/business/2022/…

@UnrollHelper nationalworld.com/news/politics/…

@UnrollHelper nationalworld.com/news/politics/…

@UnrollHelper nationalworld.com/lifestyle/mone…

"For the vast majority of those who still live in the reality-based community – tethered to gravity and maths - it is clear what has happened."

Any comments to the contrary from #Truss acolytes are attempts to change the narrative and divert attention from the #EconomicCrisis.

"The markets do not believe in the fantasy economics of untrammelled borrowing and unfunded tax cuts any more than the average person on the street does."

"They do not believe in myth of trickle-down economics, where making the richest richer magically benefits everyone else."

"Eroding our tax base just as there are pressures for spending is not just bad economics or childlike delusion – it is a real and present danger to economic health."

"Rather than force working people to pay, Liz Truss and the Conservative Party must get back to Parliament this week and reverse their disastrous decisions. Permanent damage has been done, but the only way to stop the rot is for the hubris and the excuses to end."

"Neither the country nor Parliament has had any say on these measures. That is unacceptable."

UK citizens did not vote to elect right-wing idealogues lurking in the shadows - the beneficiaries of the windfall financial gains from #Truss & #Kwarteng's misleading 'mini-budget'.

"Mortgages, pensions and family finances are not casino chips for a government intoxicated by dogma. There are many decent Conservative MPs who know this. My message to them is that Labour will work with anyone to ensure some semblance of economic sanity is restored."

"Having seized control of the nation’s wheel over the summer, they have proceeded to drive the economy off a cliff. The damage will be felt by the working people of this country for years to come."

telegraph.co.uk/politics/2022/…

archive.ph/p5WpY

"Gove argued that it was wrong to pay for tax cuts out of borrowing. While he backed the moves to limit energy bills, the fact that 35% of additional borrowing in the fiscal statement went on unfunded tax cuts left him “profoundly” concerned, Gove said."

“There are two major things that are problematic with the fiscal event,” he argued. “The first is the sheer risk of using borrowed money to fund tax cuts. That is not Conservative."

"The second thing is the decision to cut the 45p rate, and indeed at the same time to change the law on how bankers are paid in the City of London."

theguardian.com/politics/2022/…

"The first battle could begin as soon as MPs return from the political conference season recess. A cross-party effort is being planned to force the publication of sensitive economic forecasts. Downing Street intends to keep them under wraps for weeks."

"MPs’ anger has been further stoked this weekend after Simon Clarke, the levelling-up secretary and a key Truss ally, indicated that welfare would have to be cut and some projects cancelled to deal with debt."

"He said the west was living in a “fool’s paradise” of an unsustainably large welfare state. He told the Times that Whitehall departments would have to “trim the fat”."

"Meanwhile, Truss has made clear she wants to push ahead with the tax cuts, including the abolition of the top 45p rate."

"The Observer understands that the main advocate of a tax cut for the highest earners was Andrew Griffith, who was Boris Johnson’s policy chief and is now financial secretary to the Treasury."

"Griffith, a former television executive whose five-storey Westminster home was used by Johnson to plan his premiership, is said to be drawing up a major deregulation package for the City."

"A Treasury spokesperson said: “We are fully committed to reforming the UK’s tax system to grow the whole economy, which is why we are abolishing the additional rate of income tax from April 2023 – "

"...as doing so boosts our global competitiveness by making the UK a more rewarding and attractive place for work and business enterprise.”"

Sounds a lot like waffle!

theguardian.com/politics/2022/…

"Liz Truss claims that she is cutting taxes in today’s mini-budget because it will boost economic growth. It’s nonsense, fairytale economics."

"These tax cuts will only lead to the rich getting richer and the rest of us getting poorer, creating a more unequal society as well as a less healthy and productive workforce."

"Across the world we can see countries with higher taxes on the rich that are more prosperous than ours. Sweden’s top tax rate is 57% (ours is 45%) yet the country produces 17% more per person than we do."

"If we really want to see our economy grow, we need to get cash in families’ pockets and invest in people and places."

"Today’s shocking income and National Insurance cuts, announced by the chancellor Kwasi Kwarteng, will give the richest 5% over £8,500 annually, while only giving the average family around £400."

"GDP growth gives us a limited view of how much more prosperity is being created. Firstly, it is only a measure of current economic output and does not include the wellbeing of a country’s population or reflect how environmentally sustainable growth is."

"Secondly, a country’s GDP only shows us how much we are producing in total, and not who the gains of this production are flowing to. If economic growth goes solely to the rich, a larger economy will just mean more money in the pockets of the already wealthy."

"But even when measured against this government’s own aims of delivering growth, these tax cuts will fail. They will lead to dramatically higher inequality as tax cuts that disproportionately benefit the rich don’t help the people who need it the most."

"This in turn reduces growth, because the rich tend to spend less and save more of their income as a proportion."

"Higher inequality is generally associated with lower growth, as has been found by both the IMF and the OECD."

"We face a choice in this country. We can ensure everyone has a warm home, the knowledge that they can afford life’s essentials, a clean and healthy environment, and the opportunity to thrive for generations to come."

"Or we can continue transferring wealth from the majority to the rich, making our jobs, homes and futures less secure as well as accelerating environmental breakdown."

opendemocracy.net/en/truss-kwart…

"An earlier column, just over a month ago, argued that this incoming Truss government was rigidly and determinedly going for the full neoliberal model – "

"...more than Thatcher, more than Reagan and in all probability more than that earliest manifestation of the new world economic order, Pinochet’s Chile."

"We sensed that Truss had a sense of urgency to act for the ideological neoliberals that she represents, many of whom believed that Boris Johnson had always been focused on his personal success at the expense of market fundamentalism."

"The best explanation for Truss’s behaviour is as a mixture of ideology, hubris and sheer arrogance, generated and strengthened within a coterie of adherents who are simply out of touch with the lives of most people."

"Meanwhile, the world-wide trend towards runaway wealth gathers pace, scarcely reported in the mainstream media except, as usual, by Rupert Neate, The Guardian’s appropriately named ‘wealth correspondent’."

"Two days before Kwarteng’s mini-budget he wrote that, according to Credit Suisse: “The ranks of the global ‘ultra-high net worth’ (UHNW) individuals swelled by 46,000 last year to a record 218,200 ..."

"...as the world’s richest people benefited from ‘almost an explosion of wealth’ during the recovery from the pandemic.”"

"Such individuals have assets of more than $50 million and over the last two years their numbers have increased by more than 50%."

"More recently, and just after Kwarteng’s tax changes, Neate reported that: “Super-rich overseas people in the UK registered as having non-domicile status are being legally allowed to avoid paying more than £3.2bn of tax on at least £10.9bn of offshore income a year.”"

"Leona Helmsley famously put it: “We don’t pay taxes. Only the little people pay taxes.”"

Where, oh where would the wealthy elite be, if not for the 'little people' to service their every need?!?

opendemocracy.net/en/truss-gover…

#GeneralElectionNow

BUT FIRST

#ScottishIndependence 🏴󠁧󠁢󠁳󠁣󠁴󠁿 - Scotland's Choice!

https://twitter.com/jockmcleod53/status/1575053271282044929?s=20&t=wgC5bjUgU2Xvk7pdOUzFDQ

"Reacting to the news on Twitter, Nicola Sturgeon said those who called on her government to replicate the tax cut should “be reflecting this morning”."

"“UK gov U-turns on top tax rate abolition because it’s a ‘distraction’,” she wrote."

"“Morally wrong and hugely costly for millions is a better description. Utter ineptitude."

"“Perhaps those who slammed @scotgov for not immediately following suit should also be reflecting this morning.”"

@scotgov aol.co.uk/news/uk-govern…

@scotgov Diggin' for Britain!

@scotgov But, they forgot the essential ingredients to stimulate Growth...

Peat FREE and eco friendly!

Believin' in Miracles!

@scotgov "It is naive to expect that an instant surge of economic growth will arise from a mishmash of deregulating planning, subsidising freeports, reforming childcare, boosting immigrant visas and digging up the countryside."

@scotgov "As for paying the price, never before can a chancellor have presented parliament with such an “unbalanced” budget. To take one example, energy subsidies are in chaos as a result of Nato’s ineffective sanctions on Russia."

@scotgov "In the rest of Europe last week, EU treasuries came together to call energy companies to order for their massive windfall profits. An emergency cap was put on production prices and surplus revenues are to be siphoned off, to an estimated total of €140bn (£123bn)."

@scotgov "The cooperation steadied European markets, while Ireland’s energy consumers can already look to benefit from up to €2bn (£1.75bn)."

Looks like everythin' is bloomin' Rosy in the EU! 🌹🇪🇺

#ScottishIndependence 🏴󠁧󠁢󠁳󠁣󠁴󠁿 - Scotland's Choice!

@scotgov "In contrast, inert Britain flounders on, with energy companies free to sting consumers and pocket the profits. Truss is right that windfall taxes are in principle bad, but this is an emergency."

@scotgov "One power station, Drax, has so far received £6bn of government money to produce “green energy” by burning wood. Yet Truss will do nothing to curb energy profits soaring by tens of billions."

@scotgov "All she and Kwarteng have so far offered to pay for their fiscal extravagances is an iron grip on public spending, including our old friend red tape. Yet a return to austerity will be explosive." 💣

@scotgov theguardian.com/commentisfree/…

@scotgov "The UK government has been accused of funding environmental racism by giving £2m a day in subsidies to an energy company that has paid out millions over claims it breached pollution limits in the US south."

@scotgov "An investigation by Unearthed, Greenpeace’s investigative unit, found Drax Biomass paid millions of dollars to US regulators over claims it exceeded limits on chemicals emissions at wood chip plants close to black and low-income communities."

@scotgov "Among the charges faced by Drax was that it exceeded limits on emissions of volatile organic compounds (VOCs), a class of air pollutants linked to cancer, breathing difficulties and other health effects."

@scotgov "Drax’s payouts over pollution claims have brought its UK taxpayer subsidies under increasing scrutiny. “It’s subsidising environmental racism, plain and simple. There are no two ways about it,” said Egland, who chairs the NAACP’s environmental and climate justice committee."

@scotgov "“I want the UK to know there are human rights atrocities associated with the wood pellet trade in the US. And the UK is complicit.”"

theguardian.com/business/2022/…

@scotgov "A company that has received billions of pounds in green energy subsidies from UK taxpayers is cutting down environmentally important forests, a BBC Panorama investigation has found."

@scotgov "Forests in Canada have been cut down by Drax, a British company that makes wood pellets. It then burns the pellets to make electricity."

"Drax says it only uses sawdust and waste wood that the timber industry doesn't want."

@scotgov Panorama's The Green Energy Scandal Exposed is on BBC One at 20:00 on Monday 3rd October and on iPlayer afterwards
bbc.co.uk/programmes/m00…

THIS . IS . A . DISGRACE!

bbc.co.uk/news/av/scienc…