Member Info for Strike123

The Medium-Term Fiscal Plan will set out a credible plan to get debt falling as a share of GDP in the medium term, with new fiscal rules and a commitment to spending discipline. And this will be alongside a full forecast from the Office for Budget Responsibility.

The British taxpayer expects their government to work as efficiently and effectively and possible, and we will deliver on that expectation. Not all the measures we announced last week will be universally popular. But we had to do something different. We had no other choice.

A new tax was set to be applied on incomes next April. Corporation tax was set to increase by a third. Stamp Duty was penalising aspiring homeowners. All while Britain faced the toxic triple shock of Putin’s invasion of Ukraine, a painful hangover from Covid-19, and rocketing energy prices pushing up the wider cost of living.

We needed to help people and take steps to build a stronger economy able to compete with our international peers. That is why we cut income tax, abolished the upcoming health and social care levy and reduced National Insurance. We lifted 200,000 out of paying Stamp Duty altogether, froze Alcohol Duty, and put rocket boosters under investment reliefs to help start-ups and scale-ups.

In addition, let us not forget the additional £400 payment on its way now. Or the £1,200 in targeted payments for pensioners and those on low incomes. For businesses too, help is on its way. Thanks to our upcoming intervention, a local pub could save £3,100 a month, cutting their bills by 40 per cent. This is a significant support package to shield millions of families and businesses from the devastating price hikes unleashed by Putin.

There is no doubt that this is an expensive intervention, but what choice did we have? Think about the cost to the British economy of mass unemployment, a collapse in consumer spending, and viable businesses going to the wall. We are talking long-term economic scarring the likes of which we have not seen in peacetime. Doing nothing was not an option. The price of inaction would have been far greater than the cost of this scheme.

But there is a wider point here too. High energy costs are also a major brake on growth - a stubborn and persistent puzzle we need to crack. Low growth makes it much harder to pay for public services. That raises the overall tax burden, which in turn reduces the incentives to work and returns on investment. Without an immediate intervention, Britain was heading towards a 70-year high tax burden. The path we were on was clearly unsustainable.

In an attempt to reverse this worrying trend, I announced our Growth Plan last week - a new approach to deliver higher productivity, lower inflation and raised living standards. We need to stick to the plan. Cutting taxes boosts growth. Reforming the economy to increase the amount of goods and services we produce lowers costs.

But in addressing those challenges, we must not lose sight of our commitment to fiscal sustainability. The UK has the second lowest debt to GDP of any major advanced economy. Just as we did during the pandemic, it is right that the Government steps in to protect our people and businesses. That is why the next phase of our plan on November 23 is so important.

https://www.telegraph.co.uk/politics/2022/09/30/no-doubt-expensive-intervention-nothing-not-option/

Cast your mind back just four weeks ago. We had daily warnings of extreme energy prices to come. Corner shops to factories predicting carnage. Business groups fearing mass unemployment. Entire livelihoods were on the line.

Make no mistake, this was a very real prospect for our country. No government with any conscience would ever let that happen. We had to act, and we did.

With Putin knowing that the tide is turning in Ukraine and is lashing out, we could not let his weaponisation of gas harm our country in that way. So, within days of taking office, the new government moved at great speed to announce the Energy Price Guarantee. That protection starts now.

We promised help was coming, and help has indeed arrived. From Saturday, your government is limiting the amount energy suppliers can charge for gas and electricity. While analysts predicted £6,500 annual energy bills from next spring, we are holding down the price at an average of £2,500. Not just this winter, but next winter too. Two years of significant government support to protect our people. And the added benefit of this scheme is that it is expected to lower our headline rate of inflation by five percentage points. A single policy that will ease wider cost of living pressures across the board.

I was having little hope that Putin annexation of the regions will stop more bombings and West would slowly forget about the war once Ukraine starts asking finance support instead of weapons. Now with Truss loony decisions it is beyond repair looks like unless that bloody inflation comes down. The most worrying thing is the rise in interest rates which would crash everything.

I got excited when energy price cap was announced as that would bring down the inflation or atleast stagnate instead of rising high but loonies economics would cause inflation to flare up in other areas now! That is what market is worried about and pound went down. Clearly now is not the time to pump money into the economy without getting inflation down. Barrondog do you get it?

There is no doubt hedge fund scumbags are attacking UK market. No matter what decision is taken UK shares destined to tank. But Kwasi fed more to these scumbags to give a reason for city traders to attack the UK stocks.
We need inflation figures to come down but Kwasi decisions will cause higher inflation and that is what market and economists think.
When are the next inflation numbers coming up?

If not the govt then who is responsible for market collapse?

I have invested not gambled money. I'm confident that I will get my money back. I have the patience and probably time to wait. This time next year, I will assess again. If I had put money in a casino AIM share then that is gambling. If you are not invested in the stock market then what are you doing here on the chat board? Are you here to support your muppets in the govt? Even IMF and Moody's are thrashing the Twaterng's reckless decisions but you seem to be deluded and still believing the fools despite pound crashing. If you are still blind to all this then no point in having further conversation on this topic.

Pollack, am in the similar position as you. In a big loss that I never have been before in my life! Just did not see this coming. It is going to be very hard to ride out this storm. I'm down by £20k just on RR and if I include other shares just don't want to put a number. Feel that diversifying is so painful as almost every stock on the market has gone down due to the bloody clowns in the govt.
IAG, EZJ, RR, ITV, TW. LLOY, BT,EVR all down massively. I need to top up nearly £50k in total in all these stocks to bring avg down.
Not selling any of them at these peanut prices. The above all are FTSE 100 companies and not AIM so am hoping that at some point in future, I hope to get back my money that is all I need. Not profits just my money back.
Only saviour is TESLA and the gains on that covers some of the losses but hate to see TESLA gains covering the losses.

I can't believe that there are people still supporting Kwasi decisions! That man should be sacked immediately.

All that he should have done as part of the mini budget announcement was to reiterate the energy price cap and reversing the NI increase. Energy price cap itself is going to put brakes on the inflation and that inturn would help in controlling the interest rates. He didn't talk any of these in his announcement. How he is going to fund the energy price cap is a different story. He could have said govt is working on it and would address it in November budget.

Just keep it simple. Market and even the common man on the street would have welcomed the above?
BoE could have still gotten away with another 50 point rate hike in November instead of now 1% hike, which may not save the pound and our economy!

Traitors like Odey are shorting own country currency and making money. I wish and pray that he and his hedge fund get burnt very badly one day.

Chancellor gave tax cuts and removed caps on the bonuses of these bankers and now the same people are shorting the pound! Traitors like Odey are making profits shorting the pound and devaluing our own currency!

The first thing Kwasi should have done on Monday is to reverse that 45% tax cut to millionaires. The amount from 45% is lost and it is in billions and Kwasi wants to borrow billions to cover that 45% tax cut? What a bloody ridiculous idea that is? Cut the tax for the rich and cut the funding for NHS and other public services?

The fact that he has not reversed his decision shows that Tories are being blackmailed by the millionaire donors to withdraw all support and collapse the govt and that could be the reason why Kwasi just not reversing any of the decisions he made last week nor any of the Tories are saying a word. There is nothing to defend or a way to support his decisions. He simply says wait until November! I'm lost for words to say how ridiculous his decisions are!
Not a word from Truss about the market turmoil and on the crash of the pound! Bloody disgrace

Buckeye doesn't hold any shares. He is here to rub salt on the wounds of UK investors. Lunatics like him still support the war despite us suffering with high energy bills and high mortgage rates.

People like him are in the Tory govt destroying UK economy.

First get our house in order before worrying about others.

This bloody govt is a big disgrace to the UK.
Bloody Boris and Biden are fueling the war since day 1. Rest of the EU were forced to join and support. Boris wanted something to distract public from his party gate scandal and he knows supporting the war and escalating the war is the perfect way to distract public and media.
Tories will further escalate the war now to distract the public from the cost of living crisis. Simply put the blame on Putin.

Still people want to support Ukraine ?

Can we first get our house in order before worrying about others?

why don't the price be taken down to BIG ZERO for all the stocks in UK?
Just wipe out everything...bloody ridiculous sell off....again it is the big funds just dumping majority of the UK shares...

But what goes down will come back up, just don't know when.
I was hoping that ending the war would pull the stock market up but now twat Kwasi scuppered all those hopes.
what a useless Tory govt we have since 2016. First by Cameroon with Brexit, then Boris with covid mess and now Truss.
Still some idiots think Tories are the best. Tories have destroyed Britain.

RR now is at pandemic price. All down to wider market situation. Specific to RR, the one downside is rise in interest rates but their debt is reduced after ITP sale. Rate rise will dent profit but that is the case for all the FTSE 100 companies. RR just need to keep continuing to get more contracts, more defense projects, increase the flying hours with travel returning to normal, price could move slowly up.

In a way it is good that BoE didn't hike the rate immediately as once they do, market will still short the pound and more pressure will be on BoE to hike rate further. Until November, there is no meeting for rate hike!

wow just looking around the share prices and this is now down to 95!
Even in the pandemic, it didn't go below 100p! Rates have not been hiked to support the pound and this is already down so much despite the dividends. Is market pricing for dividend to be scrapped?
Still it is utter ridiculous how this is being sold off as if this is going bust when it did not even in pandemic.

If you read the RNS it sounds boring talking about road to net zero carbon but the important bit to understand is that EZJ will be using SAF instead of fossil fuel soon.
Next is that CEO cleverly included the traffic stats in the RNS, August is higher than July despite the media noise about cancellations. Also load factor is 93%, which coincides with the experiences that some have shared here! The planes are running full!

In July, SP was around 550p and with similar load factors to continue for the rest of the year, EZJ at current price is just pure price manipulation by the short sellers.

More RNS if come and with Oct 13th being just over 2 weeks away, price should move up as we get closer.
Any more short selling will be absorbed from now on by the longs as investors prepare for the Oct 13th results.

Have not taken the price down on opening yet!
Price gone up from 71p close to 72.3p. although there is a rate risk to support pound, defense spending is a good news.
With tax cuts, if more money is in the pockets as govt believes so let's see if this helps RR and travel stocks.
Interesting that price is now close to 73p few pennies up

This is indeed a good news for RR

Problem is we have a new chancellor who said that he doesn't care what markets think about his policies! Money needs to be borrowed to freeze energy prices but there is no need to cut taxes for the wealthy although cutting taxes for wealthy is not going to cause a massive loss of tax revenue but still a futile policy. Majority of the population is paying 20-40%

But losing stamp duty revenue doesn't make sense. To boost the property market, just get the interest rates down, which could come down if inflation is controlled with energy price cap.

Other than Stampy duty cut, the other tax cuts are coming next year so need to see how much the rise in house prices would cause the inflation to go up. With pound sell off, most likely rates go up and as a result, property prices may not go up despite stamps duty off as demand weakens. Only thing is that all those bankers who can now have bonuses and no tax would be buying lots of properties!

If his policy doesn't lead to rise in inflation then we all are panicking unnecessarily but interest rates will rise to support the pound.

Chancellor could have simply announced the energy price cap and should have kept quiet as market welcomed the energy price freeze. In November, he could have announced new measures. Really a disastrous policies he is coming up with.

Tax cut benefits Rich but you need to see how many millionaires will benefit and will it really cause inflation to soar ? Majority of the population is in within that 40% bracket and the tax cut for this big population is peanuts so inflation is not going to soar by this logic?

Now they have cut the stamp duty on homes and that could contribute to high house prices and could lead to rise in inflation but with interest rates high need to see how high prices can go and how it effects inflation.

Commodity prices are down ad of now and with price cap on Russian oil and energy price cap but Truss, price may not go as high as in March when the war started so inflation from oil should also be under control or atleast not run high.

Net of this is that if inflation could stagnate now or atleast may not go high, which is what is needed in the current crisis situation.