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AntiBrexit vote
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Labour have a 33 POINT LEAD with YouGov/Times Yes, 33.
THIRTY-THREE POINTS
Lab: 54 (+9)
Con: 21 (-7)
Lib: 7 (-2)
Green: 6 (-1)
Ref: 4 (+1)-
[b]U.K. Abandons Plan to Cut Tax Rates for Top Earners[/b][/h1]
[link=https://www.wsj.com/articles/u-k-government-abandons-plan-to-cut-rate-of-income-tax-for-top-earners-11664779306?st=qhoy8d23r6dvrtt&reflink=desktopwebshare_permalink]Wall Street Journal[/link]: The U.K. government Monday said it wont proceed with the removal of a 45% top rate of income tax, scrapping a key element of a plan announced late last month that triggered turmoil in the countrys financial markets and an intervention by the Bank of England.
The U-turn is a major setback for new Prime Minister Liz Truss, who based her nascent leadership on a sweeping revamp of the British economy.
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Cutting taxes for the wealthy while messaging service cuts during a time of economic pain cause a massive backlash … both from the public and from the financial markets.-
Liz Truss has a 15% approval rating … far below BoJo’s worst numbers
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Truss on the ropes … a third MP has called for her to step down. Potentially a *very* short tenure as PM
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Someone has a video stream with a picture of her next to a head of lettuce. Theyre watching it to see who lasts longer.
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Almost everyone’s a loser: EU-UK trade sharply lower than in a world without Brexit
[b]An Irish think tank calculates that the value of British goods exports last year to the EU was 16 percent lower, and European goods to the UK 20 percent lower, because Britain left the single market.
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Brexit has inflicted deeper opportunity costs on U.K.-EU trade than previously estimated, according to a [link=https://www.esri.ie/system/files/publications/WP735_0.pdf]new Irish study[/link] that compares the weakness of actual post-2020 goods flows to a parallel universe where Britain stayed within the single market.
The Economic and Social Research Institute (ESRI) in Dublin [link=https://www.esri.ie/news/brexit-reduced-overall-eu-uk-goods-trade-flows-by-almost-one-fifth]found[/link] that Britains exit has cut the potential value of goods exports to Europe by 16 percent, while EU exports to the U.K. were even more sharply lower, representing a 20 percent loss in potential sales.
…The ESRI found that U.K. exporters were losing opportunities and market share in most EU countries, most strikingly in their closest trading partner, Ireland, where the value of British goods last year slumped by 40 percent versus the no-Brexit model. Other sharp fallers included Spain (32 percent), Sweden (25) and Germany (24).
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Liz Truss resigns … the lettuce lasted longer
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“Boris Johnson Expected to Stand in Leadership Contest, Times Reports”
[link=https://www.flyertalk.com/forum/redirect-to/?redirect=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Flive-blog%2F2022-10-20%2Fliz-truss-in-turmoil]https://www.bloomberg.com/news/live-…uss-in-turmoil[/link]
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As read somewhere.
Truss is gone but the lettuce romaines.
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She was no Caesar.
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[b]Welcome to ‘Britaly'[/b][/h1]
[link=https://www.economist.com/leaders/2022/10/19/welcome-to-britaly]The Economist[/link]: A country of political instability, low growth and subordination to the bond markets. -
The return from Elba. Boris Johnson is on BA 2156 from Punta Cana to London-Gatwick via Antigua.
[link=https://twitter.com/dennislennox/status/1583581399453700101?s=20&t=OHxlpqsoNUpsNhkdocKqgg]https://twitter.com/dennislennox/status/1583581399453700101?s=20&t=OHxlpqsoNUpsNhkdocKqgg[/link]
The return from Elba.
Boris Johnson is on BA 2156 from Punta Cana to London-Gatwick via Antigua. https://t.co/ULAEwPVHVg
— Dennis Lennox (@dennislennox) October 21, 2022
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[link=https://www.theguardian.com/politics/2022/oct/22/thousands-of-london-protesters-call-for-uk-to-rejoin-eu] Thousands of London protesters call for UK to rejoin EU[/h3] [/link]
[link=https://www.scmp.com/news/world/europe/article/3196921/thousands-protesters-london-call-britain-rejoin-european-union][/link]
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twitter accounts step up to talk about the “advantages” of Brexit
[link=https://twitter.com/nazirafzal/status/1587383060227624963?s=61&t=S_M4AkZJtDzXlGhZDoyR2Q]https://twitter.com/nazirafzal/status/1587383060227624963?s=61&t=S_M4AkZJtDzXlGhZDoyR2Q[/link]
“One of the Brexit opportunities is that we get to keep all migrants who cross the channel because we no longer have to abide by the pesky Dublin convention which allowed us to send them back to the EU country from which they came.
We took back control”
[link=https://twitter.com/MichaelTakeMP/status/1586743542860365824?s=20&t=2OMDk1-wc4U9SlZuScAYyA]https://twitter.com/MichaelTakeMP/status/1586743542860365824?s=20&t=2OMDk1-wc4U9SlZuScAYyA[/link]
This is sewage being sensibly dispersed at St Agnes in Cornwall today. Youll see the beach is empty so NO ONE is being harmed. This would of course have been stopped by the nit picking EU. Brexit means we can now employ such SAFE procedures. Good news!One of the Brexit opportunities is that we get to keep all migrants who cross the channel because we no longer have to abide by the pesky Dublin convention which allowed us to send them back to the EU country from which they came
We took back control— nazir afzal (@nazirafzal) November 1, 2022
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The man who still believes in fairies despite a small thing like reality. But he has a crowd of believers who believe tax cuts are the cure for everything.
Oh, that makes 2 things, add on 40 years of experience.
[link=https://www.washingtonpost.com/lifestyle/2022/11/02/laffer-truss-trump-tax-cuts/]https://www.washingtonpost.com/lifestyle/2022/11/02/laffer-truss-trump-tax-cuts/[/link]
The mess in England doesnt mean hes wrong. Arthur Laffer, the chief cheerleader for supply-side economics[b] [/b]since the days of Ronald Reagan, wants to make that clear.
Laffer in early October publicly[b] [/b]endorsed a[b] [/b]dramatic tax-cutting plan proposed by Liz Truss, who was just getting settled in as Britains prime minister. When I read about your new governments fiscal plans, Laffer wrote then in the Daily Mail, I cheered them to the rafters.
Most people were not cheering, however; the proposal, which called for the largest tax cuts in generations and included the abolition of the top rate of income tax for high earners upended financial markets, devalued the pound and set off a political crisis. Two weeks later, and only 45 days after taking office, Truss resigned.
Laffer[b] [/b]has not backed down.[b] [/b]He still thinks the cuts are what the country needs to revive its economy.
Laffer has been something of an economic beacon for more than half a century[b] [/b] and, a flawed one at that, many of his colleagues[b] [/b]have argued. His contention that tax cuts for the wealthy can stimulate the economy and increase government revenue has been echoed by generations of Republican leaders, including, most recently, President Donald Trump, whom Laffer advised on the tax cuts that became the administrations signature legislative achievement. (Trump later awarded Laffer the Presidential Medal of Freedom.)[b] [/b]He remains in high supply on certain cable news shows. In academic and policy circles,[b] [/b]though, withering assessments of Laffer and his ideas[b] [/b]are not hard to find.
Laffer plays a kind of P.T. Barnum of economics, said Robert Reich, President Bill Clintons labor secretary. Washington loves big personalities with wild ideas that save rich people money.
A charlatan who claims to be an economist, is how former Reagan budget adviser David Stockman described[b] [/b]Laffer in a 2013 CSPAN interview.
A preposterous theory, Steven Rattner, a former Treasury official under President Barack Obama, wrote [link=https://www.nytimes.com/2019/06/25/opinion/the-dangerous-folly-of-lafferism.html]in a 2019 New York Times essay[/link], referring to Laffers idea that cutting taxes increases revenue.
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[h1][b]Record Numbers of Migrants Crossing English Channel[/b][/h1] The U.K. is seeing record numbers of migrants crossing the English Channel in boats, even from relatively stable nations such as Albania.
Britain is grappling with a surge in migrants crossing the English Channel by boat that is overwhelming the countrys asylum system and posing a challenge for Conservative Prime Minister Rishi Sunak, the [link=https://www.wsj.com/articles/u-k-sees-record-numbers-of-migrants-crossing-english-channel-in-small-boats-11667746870]Wall Street Journal[/link] reports.
Migrants from Africa have long undertaken perilous sea voyages across the Mediterranean to get to southern Europe. But such trips across the channel, which separates the U.K. from continental Europe, are relatively new and have increased rapidly.
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[b]PM Sunak says Britain will not pursue trade ties that rely on EU alignment[/b]
[b] [/b]
BIRMINGHAM, England (Reuters) -Britain will not pursue any trading relationship with the European Union that relies on the country aligning with the blocs laws, Prime Minister Rishi Sunak said on Monday after a newspaper reported his government was pursuing closer ties.
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I believe in Brexit, and I know that Brexit can deliver and is already delivering enormous benefits and opportunities for the country, migration being an immediate one, Sunak said.
[link=https://www.flyertalk.com/forum/redirect-to/?redirect=https%3A%2F%2Fapple.news%2FAh2PFaeOSRlmcuOjvoL8WXQ]https://apple.news/Ah2PFaeOSRlmcuOjvoL8WXQ
[/link]Say hello to an extended period of stagflation. -
[link=https://www.statista.com/statistics/987347/brexit-opinion-poll/]https://www.statista.com/…7/brexit-opinion-poll/[/link]
[b]
[/b][b]In hindsight, do you think Britain was right or wrong to vote to leave the European Union?
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[img]https://pbs.twimg.com/media/FjNgzinWQAYgh-t?format=jpg&name=medium[/img]54% think it was wrong to leave the EU while only 34% think it was the right decision.
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sunlit uplands …
[h1]Spiraling costs and crumbling public services leave millions in Britain struggling to live[/h1]
[link=https://www.nbcnews.com/news/world/britain-poverty-cost-of-living-food-crisis-rcna57630]NBC News[/link]: Britain is the worlds sixth-largest economy, a top-tier industrialized power that still sees itself as a cradle of the postwar welfare state. But [b]its stagnant economy has likely just entered what the Bank of England says could be the longest recession and sharpest drop in living standards on record, and its the only G-7 nation whose GDP is still lower than before the pandemic. [/b]Britain once compared itself to giants like France and Germany; today many of its metrics more closely resemble Eastern Europes weaker economies.
The financial calamity enveloping the U.K. is so widespread that there are few escaping its pull.
One in 6 British households are on social security checks, and almost a third of British children live in poverty, government figures show. One in 4 are facing financial difficulty or are already mired in it, and almost 1 in 10 have missed paying bills.
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[link=https://www.huffingtonpost.co.uk/entry/nigel-farage-said-britain-is-broken_uk_63a56e3de4b0ae9de1afcada] Nigel Farage Said ‘Britain Is Broken’ Twitter lets him know who is responsible [/link]
“But you do have your blue passport you moaning snowflake.”
“Village vandal complains about smashed up telephone kiosk”
“And they say Nigel Farage never succeeds at anything. [link=https://twitter.com/hashtag/BrexitBrokeBritain?src=hashtag_click]#BrexitBrokeBritain[/link]”
“Y O U F * C K I N G B R O K E I T”
Presenter Gabby Logan: “This is a parody account? Yes?”
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[h3][link=https://www.independent.co.uk/news/uk/politics/brexit-poll-referendum-rejoin-eu-b2250813.html]Brexit poll: Two-thirds of Britons now support referendum to re-join EU [/link][/h3]
The number who say there should be another vote is now 65 per cent, up from 55 per cent at the same point last year, although they are split over the timing.
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“Britain the only G7 economy forecast to shrink in 2023”
[i]Britain is expected to be the only major industrialised country to see its economy shrink this year after the impact of Liz Trusss brief premiership prompted a sharp growth downgrade from the International Monetary Fund.[/i]
[link=https://www.flyertalk.com/forum/redirect-to/?redirect=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2023%2Fjan%2F31%2Fbritain-only-g7-economy-expected-shrink-2023-imf]https://www.theguardian.com/business…hrink-2023-imf[/link]
