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Liz Truss resigns as UK prime minister

bbc.co.uk

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Re: Liz Truss resigns as UK prime minister

#191

Post by yen223 »

rwmj wrote: post #108
akudha wrote: post #45

Earlier quoted context omitted.

Britain, Brazil, Australia, Philippines, India, Turkey, U.S … it is mind numbing that of all the good, talented people these countries have, only the dumbest, worst of the worst end up in positions of power. Depressing. At this point, we can just randomly pick a citizen to be President or PM. We might have better chances that way

The countries you name mostly have variations of the flawed first past the post voting system.

Australia uses preferential voting for its federal and state elections

Re: Liz Truss resigns as UK prime minister

#192

Post by krisoft »

kamaal wrote: post #93
samwillis wrote: post #13

Earlier quoted context omitted.

George Canning died in office, he wasn’t pushed out for being a miserable failure who crashed the economy.

>>a miserable failure who crashed the economy. Can somebody from the UK tell us what did she do that the economy crashed, in just under two months?

Introduced a set of deep tax cuts. The markets reacted negatively to the implied increase in governmental borrowing. The pound had hit an all time low against the US dollar.

This wiki page contains a good summary: https://en.wikipedia.org/wiki/September_2022_United_Kingdom_...

Re: Liz Truss resigns as UK prime minister

#196

Post by makomk »

mytailorisrich wrote: post #61
motogpjimbo wrote: post #32

Earlier quoted context omitted.

She and her chancellor announced a series of tax cuts at a time when inflation is running at 10%. Even worse, they sidestepped the usual processes on fiscal responsibility and declined to explain how the tax cuts would be funded. The bonds market then panicked as a result, with the Bank of England having to step in and bail the market out to prevent gilts from entering a death spiral, which would have bankrupted pens…

Not all the tax cuts announced were bad or badly received. Especially, I think that the cancellation of the rise in corporation tax was very welcome and in fact economists now say that the rise to 25% will make the recession deeper and longer (unsurprisingly, frankly). The issue was that the other cuts, especially abolishing 45p income tax rate but frankly also the decrease of the basic rate, were not discussed, not…

Now that the rise in corporation tax to 25% is back, the UK press are of course pushing claims by economists that it will make the oncoming recession deeper and longer. That narrative was nowhere to be found prior to the u-turn though, with the media consensus being that of course lower corporation tax wouldn't help grow the economy and only ideologically-driven right wingers who ignored the evidence believed otherwise. It's another one of those scenarios where whatever the government is doing at the time is the wrong choice.

Re: Liz Truss resigns as UK prime minister

#197

Post by bsenftner »

martopix wrote: post #190
bsenftner wrote: post #46

Earlier quoted context omitted.

Every time I think the USA is completely ruined, I remember how much worse the citizens of the UK have it. I remote worked for a London based CTO for years, with a science Phd, and to hear him discuss UK politics gave me an insight how effective propaganda and being immersed in a culture impacts one's judgement.

Uhm, what? I think UK politics is pretty sane actually. It has a lot of problems, but definitely not this almost civil-war-like type of language that you have in the USA. And although the UK is getting worse and worse, there are European countries that still have a worse political environment.

Well, leaving the EU strikes me as only good for the 1%'ers, so...

Re: Liz Truss resigns as UK prime minister

#198

Post by pclmulqdq »

elij wrote: post #87
akudha wrote: post #45

Earlier quoted context omitted.

Britain, Brazil, Australia, Philippines, India, Turkey, U.S … it is mind numbing that of all the good, talented people these countries have, only the dumbest, worst of the worst end up in positions of power. Depressing. At this point, we can just randomly pick a citizen to be President or PM. We might have better chances that way

these leaders are a reflection of the voting population in this and those respective countries. turns out we don't have that many smart people in the UK

The popular members of the conservative party were not on the ballot during Truss's election. Conservative party leadership effectively chose her, not the people.

This is squarely on the Blair/Bush party of big government and tax cuts, which is a deeply unpopular position in reality.

Re: Liz Truss resigns as UK prime minister

#200

Post by flintchip »

drexlspivey wrote: post #139
5350-uiop-1130 wrote: post #63

so Uk about to have the 2nd unelected PM in as many months. lets hope the next one can get your house prices pumping again.

You don’t elect a Prime Minister in the UK, you elect a parliament

If only the electorate knew that
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