Post by gordo on Oct 3, 2022 8:52:03 GMT
UK Govt. has dramatically U turned on plans for tax cuts for the well off, after days of turmoil around Financial World, and scathing criticism, and condemnation from all sides.
Even still, Truss and Co. are still defending their original policy!
Clearly Truss was not expecting this major backlash from her own MPs, nor from the Financial markets.
But then, if they didn't expect such a reaction after being warned over and over again, the consequence, of trying to do such a level of tax cuts thru borrowing to pay for it, while at same time saying they would not cut Public spending, only then to now demand Public spending cuts, etc, shows how out of touch with reality these incompetents are.
However, they still intend other tax cuts, so it is still going to keep up many of its crazed plans, and so, keep the financial turmoil ongoing!
For as it stands, the UK Govt. now wants to have £43 billions worth of unfunded Tax Cuts, instead of £45 billion.
Also, note well ........ The tories are also talking about £18 billions in Public spending cuts!!!
The ITV News report below, is daming!
from BBC News..........
www.bbc.co.uk/news/uk-63114279
.....................................................................................
from ITV News
www.itv.com/news/2022-10-03/the-backlash-from-tory-mps-that-forced-truss-and-kwarteng-to-ditch-45p-tax-rate
.......................................................
This is a report in The NATIONAL (Scotland)
www.thenational.scot/news/23009458.kwasi-kwarteng-confirms-cuts-18bn-public-services/
Even still, Truss and Co. are still defending their original policy!
Clearly Truss was not expecting this major backlash from her own MPs, nor from the Financial markets.
But then, if they didn't expect such a reaction after being warned over and over again, the consequence, of trying to do such a level of tax cuts thru borrowing to pay for it, while at same time saying they would not cut Public spending, only then to now demand Public spending cuts, etc, shows how out of touch with reality these incompetents are.
However, they still intend other tax cuts, so it is still going to keep up many of its crazed plans, and so, keep the financial turmoil ongoing!
For as it stands, the UK Govt. now wants to have £43 billions worth of unfunded Tax Cuts, instead of £45 billion.
Also, note well ........ The tories are also talking about £18 billions in Public spending cuts!!!
The ITV News report below, is daming!
from BBC News..........
www.bbc.co.uk/news/uk-63114279
.....................................................................................
from ITV News
www.itv.com/news/2022-10-03/the-backlash-from-tory-mps-that-forced-truss-and-kwarteng-to-ditch-45p-tax-rate
.......................................................
This is a report in The NATIONAL (Scotland)
www.thenational.scot/news/23009458.kwasi-kwarteng-confirms-cuts-18bn-public-services/
(shut up kamikhazi kwasi ! for pity's sake !)