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notices and features - Date published:
5:30 pm, October 3rd, 2022 - 18 comments
Categories: Daily review -
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The current rise of populism challenges the way we think about people’s relationship to the economy.We seem to be entering an era of populism, in which leadership in a democracy is based on preferences of the population which do not seem entirely rational nor serving their longer interests. ...
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Breaking Uk to reverse tax cuts to top rate,Chancellor to make statement in 1 hour,after the PM threw CX under bus (saying it was his idea) the petition for a confidence vote exceeds 400000,hence it will be a Parliament debate of confidence.
https://twitter.com/BloombergUK/status/1576630951324618752?cxt=HHwWgMC4uebfqOErAAAA
Mad – whatever next?! Rest easy Elizabeth.
Go Down, Charlie…
Retreat now confirmed,backs down on Policy change.The policy change is only 2 billion pounds and whilst the pound reverses retreat the markets will digest the still unfunded tax cuts (income and stamp duty) that will have to be funded on either large borrowings or cost cutting around the level of the Osborne austerity measures.
https://twitter.com/BloombergUK/status/1576822349130858496?cxt=HHwWgIC8nc_k_-ErAAAA
Shouldn’t that read 'We didn't get it…' – what else might distracted Tories not get?
Still, a small win for common sense and most UK voters.
New PM doing great things:
https://twitter.com/alanferrier/status/1576822885708361728?cxt=HHwWgMDThe2DgOIrAAAA
The markets only repriced BOE increases from 140bp to 115bp.A terminal BOE rate of 5% (NZ 4.5%) still no statements on how they will be funded and the PM and CX did not allow the OBR (independent budget oversight) to provide statement on Risks and costing until end of November,which lessens market trust.
I'm sure Luxon and Willis listened.
Luxon and Willis listened, no doubt – but do they get it? The value of Luxon's seven properties may have peaked, at least for now.
The difference is that the UK Tories are not shy about publicly telling their leaders and the media when they are fed up with bad decisions. Contrast the automatons in the NZ Nats who only ever say "Everything's fine under Great Leader Bridges/Muller/Collins/Luxon … Willis?".
Being a party rebel in NZ is high treason, in the UK it's a Tuesday.
That's an interesting point of difference. In NZ, rebel politicians are typically shown and/or pushed out the door, to preserve the paper-thin "veneer of unity" – such is the importance of a (strong) team image.
Parties could experiment with tolerating their rebels, but in our small parliament the 'worst' behaviour is probably viewed as too distracting.
Willis can wait, and work on her property portfolio – it's a buyer's market.
And none of that was ever about policy. Only the soap opera (JLR doesn't like Simon, Simon doesn't like Judith, Chris B and Nicola help Todd shaft Simon, etc, etc).
Nobody in the National Party ever says "I disagree with the leader's tax plan, it should be changed". Their differences are entirely personal, all about themselves.
Luxon assured us his Tax Cuts are different!! lol
Willis tells us any talk of inflation from Tax Cuts is "Scaremongering".
Sesame Street time. "One of these things is like the other, one of these things is just the same"
https://i.stuff.co.nz/business/opinion-analysis/300702917/what-is-going-on-with-our-climate-regulators
This hre economist chappy reckons more ets is the answer,
I don't know much but I'm yet to see evidence of the ets achieving anything so I'm a big fat yeah na,
Old hermit takes a holiday down south incurring for various reasons a near total news blackout in the month long process .On the way home has to wait a whole day in picton due to shifting ferry timetables so decides to change the habit of half a lifetime and buy a newspaper imagining a delicious long read in one of Pictons many cafe's , leisurely catching up on what i'd missed .I imagined being this close to the countrys capital i would have a choice of the finest newspapers etc fuck you'd think i must've been smoking something so deeply did i delude myself !I was able to buy a Dom Post and a thing called The Express and ten mins later through both in the bin in disgust complete nothing burgers anyone living down that way you have my sincerest commiserations putting up with pap like those papers .I wouldnt wipe my arse on them . .
Auckland Transport and Kiwirail announce over a year of rail shutdowns, 6 days out from Auckland Council election being called.
Can anyone think of a better way for AT to spike the only public transport-supporting Mayoral candidate?
Ain't no neutral public service 'round here.
Credit Suisse removes X- axis from Swiss Flag as markets reduce risk on CEO plan of both asset sell off and capiatal raising in 100 day plan.
https://twitter.com/markets/status/1576834860932636672?cxt=HHwWgIC9tfO8heIrAAAA
The big question for New Zealand:
Will Christopher Luxon beat a similar retreat and reverse his policy on tax cuts?
As mentioned above, it needs internal party pressure. It won't be the government or media that make it happen, only Nats who see sense.
I suspect their echo chamber says "No need to change the policy, we'll win anyway". Could be a fatal mistake.