Pension funds would have collapsed today...

I wouldn’t hang your hat on a Labour win just yet - if the MSM back the Tories as they usually do they’ve still got every chance of getting the keys to number ten again, and when you have places like North Yorkshire where they’d vote for a floating turd if it had a blue rosette on it then nothing can be taken for granted
 
Wonder how the im alright Jack lot that voted tory are feeling now that their mortgage will be 400 quid higher and their gas bills double what it was last year and now pensions on the verge of collapse
serves them right,no sympathy for them,i hate the tories and what they have done to the economy
 
Sky news says government department have been told to find “efficiency savings”.

Thank goodness for that.

We can return to the glory years of Osborne and Cameron's austerity, where we all lived in perpetual financial security because a sub-department of the Home Office negotiated a new photocopier deal.
 
Thank goodness for that.

We can return to the glory years of Osborne and Cameron's austerity, where we all lived in perpetual financial security because a sub-department of the Home Office negotiated a new photocopier deal.
i worked in the civil service through the cameron austerity years and lost my job as a result so its a lot more than negotiating a new photocopier
 
It is absolutely astonishing that most successful thing each Conservative PM has done is making the previous one appear statesman-like & a completely safe pair of hands in comparison to the shambles that they are insisting upon unleashing on the country.
You're right like 👍
I'm kinda missing 'Strong and Stable' Theresa May at this point 😕
 
Wonder what LT and KK have planned for pensioners and the triple lock?

A 10% rise in pensions next year can the country afford it let alone those two staying in office?
 
Efficiency savings basically means sacking people who work in the civil service and contracting out their work to the private sector who cost twice as much. Example having to pay £800 to contractors to supply a TV for an hour for jury members to watch CCTV. Having to source forensic evidence from private contractors in France as we got rid of our capacity about ten years ago. Off the top of my head.
 
Thank goodness for that.

We can return to the glory years of Osborne and Cameron's austerity, where we all lived in perpetual financial security because a sub-department of the Home Office negotiated a new photocopier deal.
The first thing you should do when you've made a mistake is put your hands up. When you've dug yourself into a hole, stop digging.

Not Truss and Kwarteng. Not the Tory govt. They're so hell bent on filling the pockets of their rich pals that they are doubling down on this economic self harm, regardless of the outcome.

Seeking efficiencies after 12 years of austerity means poorer public services, the death knell of the NHS, probably mass job losses in the civil service and the subsequent reposessesions and human tragedies that brings.

They could reverse a lot of the damage by reversing the tax cuts but they'd rather destroy the country than step back and admit an error if that mean the rich can't get richer.

With what's going on I defy anybody who isn't mega-rich to defend voting Tory. Yes, its your democratic right to do so and I'll defend that until my last breath, but to still do so now if you're working class then im sorry but you're an absolute idiot.

Those who can't stand Keir Starmer or a more centrist Labour Party, I hear you and I'm with you. However, thee comes a time when despite that we need to do everything to get these lunatics out of power and riggt now, Starmer is the boring safe pair of hands that is at least part antidote to this corrupt rabble of self serving puppets of the shadowy rich who run this country.
 
Completely agree. For all voters who consider themselves independent folk, forging their own path in life, they just haven't realised that if they could, the Tories would take those bootstraps you're so proud of, snip them in half and blame the guy who taught you how to tie those laces in the first place.
 
Sky news says government department have been told to find “efficiency savings”.

I was sure LT said she wouldn’t be looking for cuts during her campaign.

I am not as political as many on this board but why should so many peoples lives be blighted by someone as incompetent as her.

If only Nobby had been right about who would win the contest to be PM things wouldn’t be like this.
Departments have been looking for "efficiency savings" for the last few years. As you'd expect though there's no direction from ministers as to what work/services should stop. Every department has literally just undertaken a review to determine how they might meet Jacob-Rees Mogg's bonkers finger in the air headcount reduction.

It's like dealing with children pretending to be politicians, you only have to look at the nonsense they've come out with re: the police and the NHS. Wishing for something to happen isn't magically going to make it happen but that's how they operate.

Ideologically deranged but also incredibly incompetent too.

It's a war on the public sector who are, of course, predominantly working class.
 
so, do I understand correctly? I mess around most of year in Brasil and Turkey (mainly) on my pension fund and, today, the BoE spent a few billion propping this up? Has the UK gone mad?
 
Wonder how the im alright Jack lot that voted tory are feeling now that their mortgage will be 400 quid higher and their gas bills double what it was last year and now pensions on the verge of collapse
The mortgage rate won’t affect them because most of them are “Boomers” who will have paid them off! The same smug self righteous b@st@rds who think they were the most hardworking generation ever, and yet when we started working with them they had every scam going.
 
Many Pension managers have bet on low interest rates in the infamous deritaves market - they lost this week and would have had to stump up alot of cash to pay off the lost gambles. Hence there has been a lot of share selling ad Governement stock sales this week by pension funds to raise cash to pay off some of the bad bets they had made. This will reduce the value of private pensions to be paid in the near future.

The Governement and Treasury appear to be reting to bail out these Pension Fund managers, as they are judged too big too fail.

Does this sound familiar?

A lot in life is about who you are - if you are judged too big to fail money is thrown at you when you have a problem.

When unemployment rose from 1m to 3m in 18 months in the early 1980s I got the feeling it was not judged a major problem - young working class people in increasingly former industrial areas of the UK had little influence or importance.
 
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