Member Info for Savage_KeyboardR

JO - Sure, that's what the Rwanda scheme needed... more time and money to work 🙄

JO - The Rwanda Scheme which your beloved, and yet inept, Tories introduced costed taxpayers £700million and yet deported no one... Complete waste of money. Scrapping it to minimise further losses was the right move. Rwanda was not a deterrent and yet still the Tories have not apologised for its complete and utter failure.

Casapinos - Yep, I'm fully aware of PFI during the Blair yrs and it's true that a Labour Gov is no Panacea... However, it's also of little to no practical help to label 'all political parties as being inept' because the only way anything ever changes is through politics, since it is only MP's sitting in the Commons who can change laws by voting to pass parliamentary Bills which then become law. There is no such thing as a perfect democracy.

A massive blunder and error of judgment by Byrne but... the Financial Crisis was caused by property bubbles and the sub-prime frauds by those working in the banking sector. It was not caused by Labour Government over-spending.

Wow VW set to close three German plants (possibly more atop) and cut thousands of jobs... A big signal of consumer demand falling very short IMO...

UK, having only made one rate cut, is now significantly behind the curve because VW is taking this action even though ECB has made 3x rate cuts already.

I still continue to anticipate a FTSE 100 correction from the ~8400 highs it recently hit down to ~7560 level over the coming weeks ahead.

What is 'British'? and if one does not possess enough Britishness to meet with your requirements does this mean they are therefore 'not British'? 🤷

Is 50% Roman enough? 20% Saxon? - Do the Welsh?, Scots?, Irish count? 🤷

In globalised world, where people enjoy travelling and living in many different countries through their lives, is the term now a tad obsolete?!

Or do people have to always live their entire life within the same country they're born into and never live and work elsewhere in the world? 🤷

Fleccy - I found just 18x Civil Servants on above £300k per annum (Sep 2022 data, nothing more recent is yet published). All were involved in either departments for Defence, Transport, Treasury or Business - All also within the most senior positions i.e. Chief Execs, MD's or Chairpersons. So these pay levels are below that of similar positions in the Private Sector, as plenty of CEO's, MD's and key chairs out there earn £1m +

I agree, 'lets not rewrite history' - Gordon Brown simply rescinded a tax perk. nothing more and nothing less.

The hard truth fleccy is that you're in fact doing pretty well for yourself heading into, or perhaps already partially, retire(ment)... you don't in the big scheme of things have all that much to worry about, as you've got a decent pension, a home, savings pots and investments atop too...

Yet despite having done pretty well for yourself you've managed to pick up a chip on your shoulder and you feel it's Labour's fault for your perceived 'hard pressed times' even when relatively speaking you'd probably not realise you're within the top 3% or so wealth bracket.

The Tories have raised taxes by the most, they've damaged the economy, have neglected infrastructure and have pitted fellow UK citizens in a pointless battle against one another.

Thankfully the grown ups are back in charge to steady the situation but them doing so will take time.

Fleccy, name one of these "Top civil servants on close to £300,000 a year"?

The high salaries are publicly available so you shouldn't find this task a difficult one

Fleccy - clue is in the name "DB pension tax relief"... it was a tax perk which was then rescinded; due to the huge success Labour had with improving people's life expectancies...

Whereas the Tories have just ruled through the only period, in British modern history, in which people can now expect to live shorter lives!

Many pensioners have accumulated great wealth, so much they'll not be able to spend it all in their final years alive, whereas conversely child poverty levels have rocketed under the Tories.

Labour will protect the poorest + most vulnerable pensioners which is the right thing for them to be doing 👍

AbjectPerformer - the reason Reeves has to raise taxes is because inept Tories failed to grow the economy and it's not because ~30,000 people, with no political power or influence, come here annually in small boats - because they're desperate for a better life...

Had the Tories spent far more time & effort focusing on supporting the economy then UK would not be in this mess. Instead they wasted time & money pursuing wasteful contracts for migrant barges, the £700million Rwanda scheme which deported no one and meanwhile they let the nations assets rot to the core which is why today nothing works!

Labour cannot fix all that accumulated decay, from 14yrs of Tory ineptitude, in 3months... it'll take years to repair the damage the Tories caused.

AimMaster2018 has been ramping this dog for many months... results not too far away now and I'm reckoning they'll be absolutely shockingly poor with the cost reduction spending coming in far higher than anticipated and sales revenues falling significantly short due to the demand slack in the wider UK economy.

Fair enough lunchbox and I respect your view on the direction, albeit I don't agree as I think the downside risks are far greater right now - with gaps at/around the £1.30 price point which I envisage will be filled by a drop of the SP in the days/weeks ahead.

It's not quite the same but... a similarly relatable analogy would be to consider the motives for horse racing punters to place Each Way bets on horsey's.

Lunchbox - It's quite common for pension investment funds to be holding both long & short positions within the same stocks... because their investment strategy is all about optimising for very long term returns for their members. If you open your mind to consider they just have a different objective compared to typical traders/PI's then its possible to contemplate that CPP can have motive to both reduce their long positions and reduce their open short covering positions simultaneously, because doing so just means they become less invested in the stock and so they need fewer open short positions to cover the downside risks they carry from having large open long holdings too.

CPP hold a large stake in BT - they hold both long + short positions, to safeguard their total holdings... As such I'd suggest a reduction of their short position could signal a corresponding reduction of their long holdings as well.

UnluckyInvestor9 - Of course, both healthcare + education significantly improved throughout the Blair years... performance was decent during the Brown years too. People even complained to Labour MP's about GP's giving 'on the day appointments' as clinics had ample capacity to cater for them, every single day! Whereas nowadays it's the case in many areas people have to wait up to two weeks for a GP appointment; by which time a proportion of those find themselves at A&E, where they can expect to endure record long wait times to be seen there too. Wait times for ambulances have become really bad. Education has seen standards slip over these last 14yrs of Tory rule. The Tories have lined their own pockets, have delivered record child poverty levels and have entrenched UK economic decay.

UK did very well under Labour in terms of improved telecoms/internet services too... whereas under the Tories the UK has fallen behind other G7 nations, with UK falling behind with high prices and for slower connections! BT + EE will do better with a supportive Labour Gov and gradually improving economy too.

AbjectPerformer - 'not voting at all' is a moronic narrative; peddled by those who do not properly understand how politics actually works! It's also a narrative peddled by populists, who hope by dissuading voters they in fact pick up some of those votes for themselves. The only method to alter the UK nations laws is via Parliament, Bills get proposed and voted upon to become law... Only MP's have these powers, and they're elected via citizens voting... So 'not voting at all' simply means your views are not represented/taken into account by the MP's sitting in the house of commons... It's instead the case the views of those who do vote become amplified by the significant reduction in representation by those who 'opt out' from voting and having their views represented. At the very least if a voter is discontent with the available array of options they should spoil their ballot to show their discontent - 'not voting at all' is a fools errand.

Anyways, FTSE and BT continue their descent as anticipated... Looking like a gradual slow burn, rather than any sharp drop correction but I still expect the FTSE 100 to continue falling and eventually stabilise around the ~7560 mark

UnluckyInvestor9 - and which do you propose is better?

Labour best for growth and therefore profits too, best also for improved social standards including healthcare and education because it's not all purely about GDP alone.