Menu
Sister Sites

  • UK's PM Truss: I am against a windfall tax, it is wrong to be putting companies off investing

Added at 7:11am

Added at 7:11am

Added at 7:11am

Added at 7:11am

Is this good for GBP ? )
truss: "I believe in unicorns"

If windfall tax is not on the table, who is going to pay - us peasants of course!!

While I do not fully agree that rich companies should face all the taxes but they need to be tax correctly! Not just peasants like us who are taxed like there is no tomorrow.
Quoting rashadali
Is this good for GBP ? )
Still early as to what Truss can accomplish. First will be establishing policy objectives then will come implementation.
So far she is sticking with basic conservative foundations.
She will have to act so on that you can count on some volatility.

UK is not in as bad a place as mainland Europe as it does have access to energy of conventional forms.
There will be Government support to bridge the time it takes for gearing up.
Plenty of time to judge how much can get done as revamping things will not occur overnight.
Bailey already signaling steady as it goes. Inflation will continue as this is outside what BOE monetary policy can control. Inflation being rooted in supply issues.
Truss does have it within her grasp implementing policies affecting supply.

Truss can be a powerful motivator to private sector getting its' Butt into action. More so then BOE
Quoting foto
{quote} Still early as to what Truss can accomplish. First will be establishing policy objectives then will come implementation. So far she is sticking with basic conservative foundations. She will have to act so on that you can count on some volatility. UK is not in as bad a place as mainland Europe as it does have access to energy of conventional forms. There will be Government support to bridge the time it takes for gearing up. Plenty of time to judge how much can get done as revamping things will not occur overnight. Bailey already signaling...
thanks for explanation. GBP is in freefall unfortunately.
Quoting rashadali
{quote} thanks for explanation. GBP is in freefall unfortunately.
Patience is warranted at this time. Plenty of upside potential if Truss can turn things around. Lot of things can still go wrong and GBP is not really a safe haven but a Risk on currency. People still looking to shelter their holdings from what is ahead.
GBP/Euro relationship is where the near term action is likely imo. Euro has struck headlong into bearing consequences of many years duration poor leadership vision.

Have always been partial to idea UK has the benefit of being a smaller economy to turn around, but BOJO has turned out to be severally deficient in Vision. Perhaps Truss will be different.
There is only 10-15% max in the North Sea - not much left, if that's what you are referring to. For the past decade, oil firms have been doing carbon capture in the North Sea - which is the end process for a depleted oil field....

Her emergency budget tomorrow is going to be an eye opener - ie who is footing the bill for the energy. It may push GBP up momentarily but until we peasants know who is going to foot the bill, it is still very much downward. Plus we know who is going to foot the bill, not the big corps but us the peasants!

That's low tax for us by the tories!
how dumb is this woman
#doyourownanalysisordietryin
GBP falling
The only prayer you need is Thankyou
GTFX 2023 All Time Pips: 3,768
Like QE, a Windfall Tax would not remain unprecedented and it would not be without consequences, intended or unintended. Once used the politicians will not be able to stop feeding at the same trough for any or the next short-term panic.

To some degree it's always a bit of a strange situation to be taxing businesses that are successful and not those that aren't. That introduces a baseline zombie economy and does nothing towards improving productivity.

The largest Businesses/Corporations maybe impersonal and therefore easy ideological enemy-implicated prey but by the same token, being impersonal and certainly not behoven to any one country, they can take their toys away.

And where does the vast majority of people's pensions payouts actually come from? Where does wealth and investment for abetter future actually come from? (Rhetorical Q's, not requiring answers)

It IS a choice that has to be made but there is NO easy or pain-free single solution: it's way too complex for that.

It WILL be interesting to see what the Non-Budget Budget reveals.
The most important announcement was "opening up the North Sea"

Finally, a kick in the teeth for the climate change mob and a return to sanity.

Fracking will most likely make a return too.
There goes the global warming HOAX scam right down the drain where it belongs. The leftwinger ideas have proven to be garbage! And to hear these clowns cry! hahaha
Unfortunately, the emergency budget tomorrow ain't going to a bugdet statement - it is going to a debate.

Just wtf this unicorn lady is thinking - avoiding questions just like her predecessor, the clown?

On hindsight, PMQ is quite a change today. Finally after 3 fking years of listening to a gibberrish clown bumbling at PMQ, I hear a proper Q&A PMQ - that's quite refreshing.
Quoting DaJoWaBa
Like QE, a Windfall Tax would not remain unprecedented and it would not be without consequences, intended or unintended. Once used the politicians will not be able to stop feeding at the same trough for any or the next short-term panic. To some degree it's always a bit of a strange situation to be taxing businesses that are successful and not those that aren't. That introduces a baseline zombie economy and does nothing towards improving productivity. The largest Businesses/Corporations maybe impersonal and therefore easy ideological enemy-implicated...
it's not unprecedented at all and that's not a normal market you speak of
#doyourownanalysisordietryin
Outline the core reason why they're successful companies.
#doyourownanalysisordietryin
  • New Comment
  •  Guest
  • | IP XX.XXX.194.102
Join FF
    • Older Stories  
    The Yen and Yuan Continue to Weaken

    From marctomarket.com|Sep 7, 2022

    While the US dollar appears to be consolidating its recent gains, the Japanese yen and Chinese yuan remain under pressure. Officials seem more concerned about the pace of the move ...

    EURCHF consolidates below 50-day MA, lacks direction

    From xm.com|Sep 7, 2022

    EURCHF is consolidating after the rebound from the all-time low of 0.9552 ran out of steam. The momentum indicators are portraying split views on the next direction. The %K and %D ...

    BOE's Bailey: On the exchange rate, there are US Dollar specific factors at work

    From @financialjuice|Sep 7, 2022|6 comments

    tweet at 5:26am: BOE GOV. BAILEY: ON THE EXCHANGE RATE, THERE ARE DOLLAR SPECIFIC FACTORS AT WORK. tweet at 5:26am: BOE GOV. BAILEY: THE US IS IN A DIFFERENT SITUATION TO UK, DOESN'T HAVE THE SAME TRADE-OFF. tweet at 5:28am: MORE BOE'S BAILEY: STERLING WEAKNESS PARTIALLY DUE 'TO THE STRENGTH OF THE DOLLAR'; FEDERAL RESERVE FACING MORE OF A 'DEMAND SHOCK' THAN UK OR EU #andrewbailey #bankofengland #ukeconomy #monetarypolicy #inflation tweet at 5:31am: MORE BOE'S BAILEY: DEVIATION FROM INFLATION TARGET 'DOES NOT SUGGEST THAT THE REGIME HAS FAILED; THE REGIME NOW HAS TO DO ITS WORK' #andrewbailey #bankofengland #ukeconomy #monetarypolicy #inflation

  • Story Stats
  • Posted: Sep 7, 2022 7:09am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 14  /  Views: 3,524

  • Related Stories