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Any attempt to do that would be political suicide, as indeed Liz Truss recently demonstrated.

by rwmj 4y ago

mytailorisrich 4y ago
Liz Truss made big mistakes in implementation: they did not discuss their plans with key stakeholders and they they did not prioritise measures (why abolish the 45p rate now?) but they did get that growth must be much higher priority, if not highest priority. Again, the level of debts is really weighing on things: without Covid debts Liz Truss's budget would have been well received. And of course even many in her own party were out to kill her, which did not help.
- gghhzzgghhzz 4y ago
  Debt being an issue is mostly a self imposed limitation / political tactic. Parties were saying exactly the same thing about debt in 2010 when debt / GDP ratio was lower in order to win an election and implement austerity. Covid Debt in the UK was all QE anyway, so is effectively money we owe to ourselves. I do agree that Truss could have done all the things she wanted to do if she had just been smarter about presentation.
  - mytailorisrich 4y ago
    Government spent massively during Covid through borrowing, that's not QE. Edit: Level of QE does not imply that the government did not take on massive debts as well. It's not one or the other.
    - gghhzzgghhzz 4y ago
      There's graph. QE went from 445bn before Covid to 895bn at end of 2020 https://www.bankofengland.co.uk/monetary-policy/quantitative-easing https://www.bankofengland.co.uk/monetary-policy/quantitative... EDIT: also https://neweconomics.org/2021/10/99-5-of-government-covid-debt-has-been-matched-by-so-called-bank-of-england-money-printing https://neweconomics.org/2021/10/99-5-of-government-covid-de...
mnd999 4y ago
Suicide is less of an issue if you’re already dead though.
pessimizer 4y ago
I think they put her out there to die, and that she knew it. When 80% of what she did gets redone by Sunak, it will be marketed as relatively humane and egalitarian. It's like how everybody got to attack May as incompetent for the Brexit she proposed, which was obviously the only Brexit possible (i.e. as far as the EU was ever going to go.) They push her out, sneering, then go on to do exactly the same deal they pushed her out for. The UK public just needs scapegoats, and the UK political class serves them on a platter.

Any attempt to do that would be political suicide, as indeed Liz Truss recently demonstrated.

by rwmj 4y ago

Any attempt to do that would be political suicide, as indeed Liz Truss recently demonstrated.

Liz Truss made big mistakes in implementation: they did not discuss their plans with key stakeholders and they they did not prioritise measures (why abolish the 45p rate now?) but they did get that growth must be much higher priority, if not highest priority. Again, the level of debts is really weighing on things: without Covid debts Liz Truss's budget would have been well received. And of course even many in her own party were out to kill her, which did not help.

gghhzzgghhzz 4y ago
Debt being an issue is mostly a self imposed limitation / political tactic. Parties were saying exactly the same thing about debt in 2010 when debt / GDP ratio was lower in order to win an election and implement austerity. Covid Debt in the UK was all QE anyway, so is effectively money we owe to ourselves. I do agree that Truss could have done all the things she wanted to do if she had just been smarter about presentation.
- mytailorisrich 4y ago
  Government spent massively during Covid through borrowing, that's not QE. Edit: Level of QE does not imply that the government did not take on massive debts as well. It's not one or the other.
  - gghhzzgghhzz 4y ago
    There's graph. QE went from 445bn before Covid to 895bn at end of 2020 https://www.bankofengland.co.uk/monetary-policy/quantitative-easing https://www.bankofengland.co.uk/monetary-policy/quantitative... EDIT: also https://neweconomics.org/2021/10/99-5-of-government-covid-debt-has-been-matched-by-so-called-bank-of-england-money-printing https://neweconomics.org/2021/10/99-5-of-government-covid-de...

mnd999 4y ago

Suicide is less of an issue if you’re already dead though.

pessimizer 4y ago

I think they put her out there to die, and that she knew it. When 80% of what she did gets redone by Sunak, it will be marketed as relatively humane and egalitarian. It's like how everybody got to attack May as incompetent for the Brexit she proposed, which was obviously the only Brexit possible (i.e. as far as the EU was ever going to go.) They push her out, sneering, then go on to do exactly the same deal they pushed her out for. The UK public just needs scapegoats, and the UK political class serves them on a platter.