Chancellor material he certainly is not, even with his priveliged education, Eton etc the extent of his blunder, blindness and sheer arrogance at his ‘alternative fix’ beggars belief.
I don’t know how they are going to write this up in the history books, I really do wish it wasn’t happening and thats from a man who lives frugally, I eat modestly cooking all I need and don’t have an employer to rely on, no mortgage either, thank God. People must be tearing their hair out (with attendant blood pressure) at everything they have built up being shredded, rendered useless, reposessed.
I imagine most folk are already stretched to the limit, so Kwarteng really does think its a good idea ….
Petrol prices up massively (dollar based).
Food prices to soar.
Agriculture at home will be severely stressed, its always been heavy on borrowing.
Borrowing costs pushed to the limit, for private and business.
Businesses will not invest, many will fail.
Mortgages now unaffordable for I suspect most folk.
House values yet more added fun from Kwarteng pushed to negative equity.
Rental sector looks set to collapse (ie evictions) as its mostly fuelled by interest only mortgages.
All the effort to prop up catering/ leisure during covid all down the pan, we are stuck with paying it off for decades.
Leisure industry, eating out, pubs etc will be massively hit.
The insanity of borrowing to fund a tax cut to the super wealthy, its unwanted, unwarranted.
Imports and materials now much more expensive, cars too.
NHS looks set to be squeezed even further, we assume education and social care ditto.
And this is called progress? Kwarteng is set to do as much harm as the German bombers that flew in our skies eighty years ago.
I can think of no-one in the Truss Cabinet that is any good including Truss herself. What are they on?
Its hard to believe its less than a week since Black Friday, the totally mis-named ‘mini budget’ better termed ‘major catastrophe authored by Kwarteng‘. It is catastrophic and the workings of a man from the madhouse, quite seriously. I mean this objectively; as much as I find Kwarteng to be repulsive, a great deal of UK sentiment is already against him at his bizarre performance at the Queens funeral the previous Monday. It would be best, imperative he is removed from Office immediately. But what happens … Truss will not hear criticism of him, likewise so many Tories, Redwood, Frost, Coffey, Zahir, Dorries etc you name them … all will not see the elephant in the room, the catastrophe that is unfolding on all fronts. I would assume their personal security is much hardened, they will not be feeling safe at any time for what they intend / have delivered to every citizen of the UK.
With Kwarteng, surely to God his parents both high fliers have pulled him aside and had one heck of a frank conversation? Along the lines of “You cannot do this”.
As of today 28th Sept when you have received a letter from the IMF telling you what you are doing is both bad (and mad) for the UK and will have world repercussions then surely this somehow must get under the thick skin of this hopeless and unwanted Chancellor Kwarteng?