Mini Budget aka Fiscal Statement

[AtW]

The energy scheme scaling back kinda makes sense. 2 year commitment spooked the markets

It will be either extended or cause mother of all recessions just a year before GE

[AtW]

It will be either extended or cause mother of all recessions just a year before GE

Articles already started without waiting for 6 months to be over -

“Millions of middle class households will see their energy bills reach as high as £5,000 a year next spring after Chancellor Jeremy Hunt dramatically cut back plans for support.

In a bid to rein in spending, Mr Hunt on Monday said government support for energy bills will now only extend to all households until April.

After that point, a less expensive version targeted at “those in need” will take effect. “

https://www.telegraph.co.uk/business...unt-cuts-back/

2 years was actually smart thing - now spending will take a huge hit before Xmas even

[AtW]

“He said a Treasury-led taskforce was now looking at how support could be better targeted from April.

It is not yet clear how the Treasury will target the support. Tom Edwards, a senior modeller at Cornwall Insight, suggested that the simplest method would be to target households in receipt of benefits through the universal credit system.

He warned that energy suppliers generally knew very little about the incomes of their customers, making it difficult to means-test support without embarking on a “large IT project”.

https://www.telegraph.co.uk/business...unt-cuts-back/

FFS, can they fooking do anything without “massive IT project”?

[Fraidycat]

now spending will take a huge hit before Xmas even

Thats the correct plan. Destroy demand and try to kill inflation asap.

[SueEllen]

“He said a Treasury-led taskforce was now looking at how support could be better targeted from April.

It is not yet clear how the Treasury will target the support. Tom Edwards, a senior modeller at Cornwall Insight, suggested that the simplest method would be to target households in receipt of benefits through the universal credit system.

He warned that energy suppliers generally knew very little about the incomes of their customers, making it difficult to means-test support without embarking on a “large IT project”.

https://www.telegraph.co.uk/business...unt-cuts-back/

FFS, can they fooking do anything without “massive IT project”?

There are those who are just above the universal credit and pension credit thresholds with the latter voting.

Not a good idea.

[AtW]

Thats the correct plan. Destroy demand and try to kill inflation asap.

Yeah, nuking the hospitality industry in their peak time and reducing buying overpriced retail tulip from MFs of this world would surely fix imported energy inflation

[AtW]

There are those who are just above the universal credit and pension credit thresholds with the latter voting. Not a good idea.

Most people in this country ain’t got enough savings to drop 5 grand on energy and current tulip can last for a few years

There won’t be middle class in this country soon

[AtW]

"Cornwall Insight said it now expects annual bills to equate to £4,347.69 from April to June, with gas at £2,286.70 and electricity at £2,060.99.

The consultancy predicts the price cap easing slightly to £3,697 in the July to September quarter, and then £3,722 from next October until the end of 2023. That is still far higher than the £1,277 annual bills stood at a year ago."

https://www.theguardian.com/money/20...347-april-hunt

So at least £300 per month on average taken out of discretionary consumer monthly spending

[SueEllen]

Was the personal emergency Truss had, which the Speaker refused to let an MP probe about, was Truss being given benzodiazepines?

[AtW]

Was the personal emergency Truss had, which the Speaker refused to let an MP probe about, was Truss being given benzodiazepines?

She was checking on how that lettuce is doing...