Mini Budget aka Fiscal Statement

[jamesbrown]

Not anymore because Chunt very clearly said today in Govt speak - “fook all businesses will get it after 6 months”.

You're making it up as you go along. He literally said the opposite of that, namely that it will be targeted. They aren't going to let 90% of village pubs go under, for example. Likewise, Steel and other industries oop Norf. Realistically, it probably won't even be that targeted. The first priority is to make the markets believe it's a complete U-turn and then some.

[d000hg]

Not anymore because Chunt very clearly said today in Govt speak - “fook all businesses will get it after 6 months”.

Aw bless. Hunt doesn't know what will be happening in 6 days let alone 6 months.

Borrowing to support energy price intervention is the one thing the markets weren't spooked by in the mini-budget (we know since it was already known about). Borrowing to help the population is acceptable, borrowing to provide big tax cuts is what destabilised everything.

[AtW]

7 weeks ago - “no new taxes”

https://twitter.com/theousherwood/st...75900816629761

[AtW]

“Jeremy Hunt is keeping Kwasi Kwarteng's removal of the bankers' bonus cap, despite junking almost all of the other tax cuts in the mini-Budget, writes Ben Riley-Smith.

The Telegraph understands that the cap, which limits bonuses for certain bank staff to 100 per cent of their fixed salary or 200 per cent with shareholder approval, will still be ditched.

The policy had been criticised by opposition parties as favouring the most well off. It is understood Treasury insiders still believe the cap is not working as hoped and it is right to remove it. ”

ToryGraph

Guess the City got what they wanted plus taxes for the rest of us

[AtW]

The business portion was never guaranteed beyond April. I guess you didn't realise this and you're now trying to obfuscate...

I know it wasn’t - just like Covid’s salary support initially was time limited and got extended a few times, so it was reasonable to assume same will happen now, thus allowing some businesses to continue trading over winter, hoping for the best.

Not anymore because Chunt very clearly said today in Govt speak - “fook all businesses will get it after 6 months”.

Considering that corp tax goes ahead that’s 17 bln extra tax from businesses, that gives plenty of scope to actually focus more on business support - not less, but obviously not with this “fook business” Tory Scum Party

[jamesbrown]

It’s only sensible if you don’t run a business…

“Stella Coulthurst has spent a decade building her pub and hotel business near the set of Downton Abbey, but soaring costs mean she is joining a growing list of pubs forced to “hibernate” to survive the winter.

The rising price of heating, power and food has caused owners to make staff redundant and close their doors in the hope that things will improve by the spring.

Coulthurst, 61, landlady of The White Hart Inn, in the Berkshire village of Hamstead Marshall, saw her electricity bill rise threefold to £17,500 for the quarter. “During summer we worked flat out but we couldn’t keep ahead of the price rises, and at the end of every month, after we paid everyone, we realised we had to pay out of our savings,” she said.”

https://www.thetimes.co.uk/article/p...eble-mkzpdg2l8

Are you being deliberately obstinate or something? Literally nothing changed in the energy support package today for businesses (or households, for that matter, other than the 2-year promise). Hunt merely indicated that a review would take place and that, after the existing 6-month break, they would look to refactor and make it more targeted. The business portion was never guaranteed beyond April. I guess you didn't realise this and you're now trying to obfuscate...

[AtW]

Er, the business support package was a 6 month guarantee only. How do you expect this U-turn changes your question about fixed supply costs?

Incidentally, Labour were only promising 6 months of support too, which now looks rather sensible with hindsight.

It’s only sensible if you don’t run a business…

“Stella Coulthurst has spent a decade building her pub and hotel business near the set of Downton Abbey, but soaring costs mean she is joining a growing list of pubs forced to “hibernate” to survive the winter.

The rising price of heating, power and food has caused owners to make staff redundant and close their doors in the hope that things will improve by the spring.

Coulthurst, 61, landlady of The White Hart Inn, in the Berkshire village of Hamstead Marshall, saw her electricity bill rise threefold to £17,500 for the quarter. “During summer we worked flat out but we couldn’t keep ahead of the price rises, and at the end of every month, after we paid everyone, we realised we had to pay out of our savings,” she said.”

https://www.thetimes.co.uk/article/p...eble-mkzpdg2l8

[AtW]

“But as Hunt has made clear his statement today is just a downpayment on further tax rises and spending cuts due to be announced in what will effectively be a full budget on October 31.”

The Times

[jamesbrown]

Covid support was also ending quickly initially, but it got renewed - same thing was due to happen here (if prices were still high which is very likely in fooked UK energy market) but now Chunt already set parameters for possible renewal, which basically imply “feck all businesses will get it”.

And how do you expect businesses to sign on typically 1+ year fixed supply of energy?

Given that even higher taxing Labour Govt is incoming plenty of people will decide to pack their tulip

Er, the business support package was a 6 month guarantee only. How do you expect this U-turn changes your question about fixed supply costs?

Incidentally, Labour were only promising 6 months of support too, which now looks rather sensible with hindsight.

99% of Disgusted from Tunbridge Wells who promise to pack their bags quietly backtrack later on

[AtW]

By "this winter", you mean "next Spring", right? Around the same time the business portion of the original guarantee was ending...

Covid support was also ending quickly initially, but it got renewed - same thing was due to happen here (if prices were still high which is very likely in fooked UK energy market) but now Chunt already set parameters for possible renewal, which basically imply “feck all businesses will get it”.

And how do you expect businesses to sign on typically 1+ year fixed supply of energy?

Given that even higher taxing Labour Govt is incoming plenty of people will decide to pack their tulip