that's not going to happen

The International Monetary Fund has urged Liz Truss to reverse the decision to abolish the top rate of income tax, in a highly unusual attack on the economic policy of a G7 country.
The world’s lender of last resort heaped pressure on Ms Truss and the Chancellor, as it urged Kwasi Kwarteng to use his fiscal plan in November to change course.
The IMF said it was “closely monitoring recent economic developments in the UK and are engaged with the authorities" and warned that the fiscal stimulus risked undermining the Bank of England’s efforts to curb inflation.
A spokesman for the Washington DC-based organisation said Mr Kwarteng's announcement in November would “present an early opportunity for the UK Government to consider ways to provide support that is more targeted and reevaluate the tax measures, especially those that benefit high-income earners”.
It is an extremely rare intervention by the IMF over a developed country’s economic policy.
The rating agency Moody's this evening joined the IMF in warning over the Chancellor's plans, raising the spectre of a downgrade to the*UK's outlook and branding the mini-Budget "credit negative".*
Moody's said it was now not expecting economic growth to return to its potential until 2026, and cut its forecasts for GDP growth next year. It said the unfunded tax cuts would lead to "structurally higher deficits".**
The credit ratings agency said: "A sustained confidence shock arising from market concerns over the credibility of the government's fiscal strategy...could permanently weaken the UK's debt affordability."
The comments come as a warning to the UK that it risks a downgrade to its credit rating, which would raise borrowing costs. These costs have already reached their highest level since 2011 and the wake of the financial crisis.
*

the IMF didn't say a word when Biden pumped obscene amounts of money into the american economy to give it a jump start

Sure, it is an option

New Update


Pound at £1:06 to the Fat USA Dollar

That’s never happened before ..

:)


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It's going to be very difficult for her to do a u turn, she spent the summer saying that the tax cuts were exactly what she was going to do. Sunak trashed her strategy, but she still got elected leader.

Realistically, interest rates are going to rise significantly and everyone is going to get hammered on their mortgage, so fun times are ahead

Yes do it on Friday.


It can be done
as a first.................

The BoE has stepped in and bought some government bonds to steady the market

how nice

New Update


Pound at £1:05 to the Fat USA Dollar

Rachel Reeves Labour Shadow
is demanding Kawsi makes a statement,


SkyNewsHD Live

Both Kwantang and Truss have disappeared. Where the heck is Truss?? :fist:

Working on her speech

For the conservative conference starting Saturday
Birmingham,

https://i.dailymail.co.uk/1s/2022/09...4378100600.jpg


https://i.dailymail.co.uk/1s/2022/09...4364944813.jpg

So another three days left to hide.

Tbh anyone that has a mortgage since the UK voted Brexit would have locked themselves into a 10 year fix if they had any sense

Rates have been at historic lows for a decade or more at some point the worm would have to turn

Starmer will Support
Parliament Recalled

For Conservative, possible U turn

Yes it is up to her,
if she chooses to recall parliament,
it could help her

https://i.dailymail.co.uk/1s/2022/09...4364944813.jpg

Kawsi making an effort today

Kawsi is not stupid
but he is fighting the markets

They Win in the end

Plenty chancellors have been humiliated by the markets in the past

Her problem is, she's already a disaster.

Too Early to Shout that
not even a month as leader Gusto

Yes they have.

65 Billion Pounds
The Bank of England put up today
to try to sort the Market out.

The Sell Off
of the Gilts
is the main problem.

New Update



Pound at £1:08 to the Fat USA Dollar

We're back in business :clap1:

Next cut sales and profit guidance


Thats handy for them.

https://news.sky.com/story/next-cuts...ahead-12707290

Truss has now Given a new TV News
report, Downing Street.

On SkyNewsHD
BBCnewsHD


No U turn
or change of plans.

Special Debate on SkyNewsHD

Concluded that the Special Bank of England
help yesterday, helped the Pensions for 2 weeks.

Will the Bank of England have to help again
in 2 weeks.

New Update




Pound at £1:09 to the Fat USA Dollar