The Times newspaper continues to lie in its trashing of Truss.
It claimed that the £/$ rallied as a result of the U-turns. However, as can be seen the rate only returned to where it was a week ago - well after the mini budget was announced.
🐦🔗: https://nitter.eu/LanceForman/status/1582254904475013120
Remember this?⬇️
Only a few months ago during his leadership bid - Hunt was calling for IMMEDIATE reduction of corporation tax from 19% to 15%
He now says cutting corporation tax is irresponsible
Does he have any principles at all, or should we trust his low tax instinct?
⬇️
RT @Jeremy_Hunt: 'Corporation tax cut not sexy, but necessary' says Jeremy Hunt as he discusses Conservative leadership bid | Politics News | Sky News http…
🐦🔗: https://nitter.eu/LanceForman/status/1581958164823490561
Biden is a hypocrite saying Truss cutting taxes for rich.
In the USA - you pay 10% on every cent up to $9950 whereas in UK we pay 0% up to £12570.
The US tax rate at which we switch from 40% to 45% is only 32%
Top US rate is 37% and only at £500k. Our top rate is at £150k
🐦🔗: https://nitter.eu/LanceForman/status/1581926135629504512
@NickFerrariLBC in Jeremy Hunts leadership campaign he was calling for corporation tax to be dropped to 15%!!
He is simply an opportunist. Believed in very little. Strong proponent of lockdown which led us to this financial mess.
🐦🔗: https://nitter.eu/LanceForman/status/1581921726652616705
So Jeremy Hunt says ‘I wasn’t great at Maths’ and is now Chancellor. Genius. Who thought that one up?
Meanwhile Truss has written a book about mathematics.
Something’s not adding up here.
https://www.express.co.uk/news/politics/1503778/Children-s-parliament-jeremy-hunt-david-amess
🐦🔗: https://nitter.eu/LanceForman/status/1581911245136936960
So disappointed that @trussliz listened to those who fought against her leadership bid rather than those who supported her to become leader. Can’t see how she can recover, but who knows, the Argentines may invade the Falklands.
🐦🔗: https://nitter.eu/LanceForman/status/1580973412251762688
I’m not surprised the Queen decided to call it a day.
🐦🔗: https://nitter.eu/LanceForman/status/1580923560326856704
I wonder if @nigel_farage is thinking of yet another career in politics!
🐦🔗: https://nitter.eu/LanceForman/status/1580917693058002946
Just about to go on @JeremyVineOn5 in support of @trussliz
🐦🔗: https://nitter.eu/LanceForman/status/1580837818091569153
I’m no fan of the CBI, but they and every businessman I know welcomed the Corporation tax cuts.
Those pushing for a U-turn are trying to oust Truss either for political reasons, or financial markets who want to keep us in recession to continue their low interest rate addition
🐦🔗: https://nitter.eu/LanceForman/status/1580800421937176577
I wonder if they’re braming Truss and calling for a general erection?
RT @EuroGuido: ¥/$ hits 32 year low.
🐦🔗: https://nitter.eu/LanceForman/status/1580793018440830976
Financial Markets are increasing because they think Truss will u-turn on corp tax.
Markets seemingly want to keep us in a low growth recessionary world so they can continue the drug of low interest rates.
Financial markets are very sick.
Truss should not be dictated by them.
🐦🔗: https://nitter.eu/LanceForman/status/1580790059355160576
The Pound £ was 1.08 to the Euro less than 3 weeks ago.
It is now 1.16. It has grown in value by almost 8% over the EU.
Yet our useless media can only muster their pea-brain intelligence to attack the UK, rather than question what's going horribly wrong with our neighbours.
🐦🔗: https://nitter.eu/LanceForman/status/1580545070008524801
The funny thing is that those believing in the "orthodoxy" are telling free marketeers "you can't buck the market". I agree. Markets are now coming to terms with reality.
The biggest market bucker to date - which will eventually end in the biggest tears - is the EURO itself.
RT @LanceForman: @julianHjessop Higher Euro interest rates to control German inflation is going to hurt other parts of Europe even more. The single currency…
🐦🔗: https://nitter.eu/LanceForman/status/1580513544751022080
Don’t wish to give away any secrets as to how we smoke our salmon.
Just walked into my office to be greeted by this ⬇️
I have literally the best team in the world any employer could wish for. ♥️♥️♥️
🐦🔗: https://nitter.eu/LanceForman/status/1580488848450076672
Pension funds could lose billions on the LDI options they took on the basis that interest rates wouldn’t rise.
BUT for every billion lost, those who wrote the options should make the same number of billions.
The net effect on the economy might be small. Who wrote those options?
🐦🔗: https://nitter.eu/LanceForman/status/1580444800603811840
@iainmartin1 your article in the Times today is spot on. The pensions regulator should never have allowed high risk LDIs when pensions are supposed to be low risk investments. Instead they focus on investments being Net Zero and ESG compliant. It’s an outrage. Gross incompetence
🐦🔗: https://nitter.eu/LanceForman/status/1580443524561981442
Why are markets worried about Truss’ £65billion of borrowing when they showed no concern about Sunak’s £500 billion of borrowing and giveaways?
The fact is - they are not. They are simply reeling about being pulled off the drug of low interest rates.
Same in the USA & Europe.
🐦🔗: https://nitter.eu/LanceForman/status/1580434276838912000
@Iromg why are the markets worried about a £65bn facility but were happy to absorb £500bn furlough borrowing!!
🐦🔗: https://nitter.eu/LanceForman/status/1580146304415858689
Unofficial automated mirror. No copyright asserted. ∎ Former London MEP - 'London Cure Smoked Salmon' - https://www.formanandfield.com/ - Author: 'Forman's Games: The Dark Underside of the London Olympics'.