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- เผยแพร่เมื่อ 6 ก.พ. 2025
- Sky News' Political Editor Beth Rigby says that the government will not proceed on the plan to scrap the 45p tax rate, in a "massive U-turn".
Chancellor Kwasi Kwarteng said in a statement: "From supporting British business to lowering the tax burden for the lowest paid, our Growth Plan sets out a new approach to build a more prosperous economy.
For the latest developments here: bit.ly/3SKOmHW
#government #liztruss #uturn #tax #budget
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I now see why Boris wanted this woman as PM: now he wont have the title of 'Worst PM in history' anymore!
😆
That is so true...we are controlled by simpletons who pretend to be geniuses.. 😣🙁😮
@@DalaluddeenHalala smart man lol
@@leonhenry4861 y?
That title belongs to Tony Blair closely followed by Brown
So, the reason they u turned on the top rate of tax was because they didn't inform cabinet and the back benchers were going to revolt? Not that it was morally wrong? What a shambles of a government.
Expecting morality from Tories is like expecting an amoeba to develop an intergalactic spacecraft.
All income tax is morally wrong. "Give to our bloated inefficient corrupt charity or go to prison. We're the good guys." No thanks. We should abolish all income tax, make VAT 5% and make the NHS a charity like it always should have been. The rich buy more so they would pay their fair share through VAT.
They did it because the markets reaction. They dont care about the normal people at all.
Erm no thats wrong
@@tjenadonn6158 What a dumb comment
Tax cuts for the top earners , meanwhile low earners are worried about paying their bills and putting food on the table for their families this is why I disagree with scrapping the top rate during the cost of living crisis for the majority of us plebs. In effect it's a massive pay rise for the highest earners.
Starmer: in favour of mass uncontrolled migration, wants us to surrender our national sovereignty to the EU, supports leftwing rhetoric absolving criminals of personal responsibility, voted & encouraged a failed lockdown, voted to sack NHS staff in their thousands for daring to choose what goes into their bodies.
The mans'a leftwing authoritarian. Will not be voting for him even though the establishment & leftwing media's propaganda is firmly on his side.
same old
Hasn't she capped your fuel bills scrapped ni rise and reduced income tax
But even after the cut they have more of their money taken from them than lower earners. Even as a proportion of income.
This party is a dumpster fire. A clown car without a competent driver.
So let's see, kwasi announces his budget and creates panic crashes the pound which his friends and ex colleagues made a few million from with whom he attended an 'event' the same night as the budget, threatened pensions drove up mortgages then u-turn on plan to hopefully steady the ship after millions have already been skimmed for their buddies....
YUP..
And those of us on pensions have lost a lot from our fixed incomes due to these arseholes.
Exactly this
They think we are that stupid that we can't see it for what it is.
Well thought out plan…
Boris Johnson - worst PM in history.
Liz Truss - hold my Rob Roy and salmon canopy.
😂😂😂 that got me
Starmer: in favour of mass uncontrolled migration, wants us to surrender our national sovereignty to the EU, supports leftwing rhetoric absolving criminals of personal responsibility, voted & encouraged a failed lockdown, voted to sack NHS staff in their thousands for daring to choose what goes into their bodies.
The mans'a leftwing authoritarian. Will not be voting for him even though the establishment & leftwing media's propaganda is firmly on his side.
Hold my Beijing Pork Markets
Liz Truss: the best reputational face lift Johnson never asked for.
Bring back Boris
Who’d have thought it would’ve been so unpopular? 😂
I wouldn’t have thought a tax cut to stimulate growth was a bad thing. Absolutely was the right thing to do in my opinion to stimulate growth.
Problem with this country in general, and the press, is nobody cared when they spent £400bn to close the economy for a so-called pandemic that wasn’t a big issue to the working-age population, but spend a couple of billion on a tax cut for those earning over £150k and it’s end of days! Smacks of jealousy from the media, and it’s not a good look when put in the context above.
🤔
So a better idea would just be pretend covid didnt exist and let people die.... or offer them no support whatsoever whilst they were not earning anything. Great idea.
If your ideas were creditable the government wouldnt have u turned
@@Cat10980 And sending millions to Ukraine is ok :)
@@Cat10980 no one’s jealous of the rich they just want better distribution. This Tory party might as well be called the Bankers Party because they have no other idea of how to grow the wxomony
It’s time this Tory party are gone
Well said
They're dangerous, incompetent, and bloody hard to be around.
Who else do we have...they are all WEF stooges and want to crush everything we know, do and love then build back better
They honestly believe we are all stupid enough to believe that the Chancellor just woke up one morning and decided to announce something like this without telling anyone.
They are literally pissing up our backs and telling us it's raining.
To even contemplate the 45p tax cut only goes to show what a self centred article Liz Truss is, surely she has to go.
She should never have been in the job in the first place. Never has someone been so underqualified for a position as Liz Truss.
The idea was that free markets would increase the economy as the trickle down effect took hold. Even Biden admits this effect doesn’t exist. It’s going to be hard for the Conservatives to admit that the wholesale application of Thatcherite free market economics wasn’t sound thinking. In moderation on those markets justifying freedom, it works. But greed and avarice within those markets we depend on hasn’t fed into true savings for all. Comparing prices and commissions to those doing that is fine with things we don’t need but for those we rely on fair fixed prices favouring no one but giving equality to all, producer and consumer, are essential. The fix is easy. But it tears down Thatcherism.
I don't even care anymore. I'm not voting tory anymore. The damage has been done
Labour then ?? Good luck with that too
@@karthikj8969 anything this side of Putin is better than the Tories
I’m boycotting the polling station. No party is worthy of my vote.
@@karthikj8969 The pound didn't get this weak under Gordon Brown and that's bloody saying something.
How bad does Truss have to be that she's done more damage in a month than Gordon Brown did?
Why would anyone EVER vote Tory?!
Didn't mention the heaps of cash their cohorts earned during the crash last week.
We can't carry on like this!
We know how this stuff works: threaten to do something unacceptable, retract it, let the public feel like they've won a victory, then implement a slightly diluted version of the same thing ... which now _appears_ acceptable because it's not as bad as the original version, but would itself have been completely unacceptable if they'd just gone ahead and done that in the first place.
So when did this new version appear?
@@jjwatcher It hasn't, yet. But I suspect it will. Expect a cut to the top rate of tax that would've been shot down in flames if they'd launched straight into it, but will now seem "acceptable" simply because it's not as bad as completely removing the top tax band.
"Im not for turning".... except when I totally screw up. So expect U-turns every week.
Paper Thatcher.
A complete shambles made worse by the PM and Chancellor blaming each other in public for the mess. Extremely poor management by her. If this what Liz Truss is like now, just think what she will be like up until the next election.
never forget what they tried to do. they showed their true colours. They are reverse Robin Hoods.
How about reversing the removal of bankers bonus cap. .
“ This lady is not for turning “ slams it in reverse crunching the gears as she goes
Technically going in reverse doesn't require turning.
She is a prime minister who has no power , she can’t control her own party. Let alone the country or the Uk 🇬🇧 she is so incompetent it’s truly shocking in shocking times
what a farce , how could they be so stupid in announcing this mini budget in the first place
there was nothing MINI about that budget ;)
:)
Done on purpose
She saw that petition with 500k signatures and said Oh No!
The number of signatures is still going up.
massive protests on saturday might have helped too ;)
What petition? Where do I sign?
Anyway...
Any Petition hasn't changed anything
Kick the Tories out
both parties of the 2 party system suck...
@@w3w3w3 maybe but one is clearly better than the other
@@nativeenglishpaul2836 I remember when Gordon Brown sold half the UK's gold at a loss of 5 billion. 3 times as bad as Liz trusts screw up. I'm more left than right but #facts
@@maded1988 how is 5 billion, 3 times worse than causing the bank of England to invest 65 billion in its own bonds to stop pensions becoming worthless? Or even the cost of the mini budget with is 45 billion in tax cuts funded by borrowing? (Future taxes)
The problem is there is nothing better on offer in any alternate political party.
All of them are wicked. Ungodly. Evil and need kicking out of office.
Our whole system needs a rethink . Who thought Liz truss would be a good leader? We certainly didn't get a voice in that decision.
Yeah, the Tory MPs wanted Sunak so they put him up against the weakest choice they could find.
They, to their credit, forgot that Sunak is brown with a non English name. He was never going to win a majority of Tory party voters as a result.
But no, most of the country didn't ask for this.
Why doesn't she just immigrate to America?? Since that's the country she really loves and staying in Uk she might just commit treason soon!
Lady Cheese likes to think she's the successor toThatcher, The Iron Lady. The first sign of troubled waters it turns out she's more the Marshmallow Maiden
The Ice Queen. Melts the second the heat gets turned up.
Iron Lady that’s rusted out.
The rusty lady.
Yesterday she said she was "absolutely committed" to scrapping it.
Just like Boris has been absolutely committed to his dozen-odd wives. Tories wouldn't know commitment if it bit them on the arse.
Absurd that it's took this long and the fact that she spent the whole week saying that they wouldn't U-turn. Joke government
she needed a week to give time to her pals to make millions from the pound crashing. Now that's done, she can make the U-Turn, pretending to have listened to the people.
She’s out of control after 1 week, let’s hope she’s not in the job much longer!
So they created the problem, waited for the reaction, then come up with a solution and we are all supposed to be humble and thankful?
They play the masses like fiddles.
I have a feeling this'll be the first of many u turns for dizzy lizzy, and perhaps a new chancellor is in order?
Who can hold them account to explain why they thought the 45p cut was required. That’s what I want to know.
it's just a figure
It's bad optics but last time they scrapped the 45p rate they increased tax revenue. If the top rate was 100% they would collect nothing per the laffer curve.
Rule of economics stable govt wise policy stick to that policy Liz has compained months for his tax cuts but now u turn I think Britain is not in right direction
The reporter saying it's not a lot of money "in the grand scheme of things" is peddling bull. The 1% contributes to 30% of income tax revenue. That is an enormous amount for that number of people.
Rishi sunak should of got the job!! He was 100% spot on. Even making a U turn now will make them look even more stupid and folds under any type of pressure
Should of? Should HAVE. That said, he was a liar. Untrustworthy and was a puppet for Indian conglomerates
"SUNAK should havegot the job"
True. But sadly there is a lot of racism and I suspect it may be the simplest answer as to why he didn't.
Britain is great , without the misolaced ideals of supremacy . Sadly wemall, have to bear the brunt.
As we can see BREXIT will be a sobering wake up call to the racists of this land .... isolated, not trading to the same level .... poorer, financially and culturally.
Etc etc etc
TORIES OUT!
She has backbone of a gummy bear,,, and morals integrity as straight as a football.
Lol, I like that! Great summing up of Lizzy!!!
Just a few weeks passed and the government goes from looking uncaring to looking uncaring, incompetent and too weak to carry out their policies.
win after win
Roughly 175,000 grass root Tory members.
Majority voted for Truss.
They has a choice, a competent man who steered UK as chancellor in the most severe and difficult times during Covid period, very successfully. He did warn of "fairytale Policymaking" of Truss.
Question is -
How could the White middle class grassroot Tories, ever let a nonwhite person of Indian origin hold the highest office in the UK.
This woman will demolish the UK economy, if not removed very quickly from the highest office
Hi Racist 👋 the Tory party members wanted the Kenyan immigrant Kemi Badenock not the WEF puppet Sunak.
absolutely unbelievable
No point in letting her government continue. Just move on to a general election!
Yesterday Truss pointed out that the world economy was bad, but in the same breathe said she was going to grow the UK economy. How? Especially given the fact that we have created our own trade barriers with the largest economic block on the planet, and on our own doorstep.
Too stupid for words.
5:28 the lady seen on the screen has taken a U turn ahah I think she is also thrown under the bus by conservative party.
Yeah, but the 45p tax rate is only part of the tax cuts they gave the rich, there were other parts about stamp duty, etc, etc that they aren't mentioning at all.
As the saying goes the rich get richer the poor get poorer its always been the case and always will be.
The UK people won't her out and she only started So look that's her fate guys
The lady is not for turning until the conservative MPs tell u your job is on the line 😂🤣
Boris Johnson was ignorant on people's anger
Liz Truss hold my beer
She needs to go....the Conservative need to step down seriously its just not working.GENERAL ELECTION PLEASE
People are gonna start taking their anger out on that government. People should not be afraid of the government, a government should be afraid of the people.
Good news. But let's face it, she's weak and there's just no possible way that she can go on. A general election is needed now!
I'm not experienced enough in economics to fully understand the motives behind all this (hence why I study it in my free time), however I think it's a fair assumption that all this manipulation of various markets has left a lot of wealthy people with a hefty bonus in their pockets...Of course I could be wrong, but if not, it really does say something about our country when these are the kinds of people left to run it :/
That's just surface level. In reality, these tax breaks are what help boost the economy and provide jobs in the luxury industry. In this current crisis, it aint those at the bottom who are spending and making sure jobs remain, its those at the top. But ppl are busy playing morality police and being myopic to see the bigger picture.
@@johnwig285 Bwahahahaha
@@johnwig285 How many times does the world have to try trickle down/voodoo economic, and see it's abject failure to produce the stated benefits, before it is finally casts the ideology into the dustbin of history?
@@johnwig285 Surely that's extremely impractical though right? Those who are already sitting on a fair fortune are less inclined to purchase anything outside of inessential luxury products. They don't support local establishments and much of their wealth will be invested into housing or stocks.
It is the middle & working class that supply and support local commodities. That provide essential services at competitively affordable prices. That are responsible not only for the upkeep of their local area, but do to the extremely large size of their economic classes are mostly responsible for the direction of our governments, based upon their own financial positions.
In conclusion: Is it not more beneficial to tax the profitable to protect those that are responsible for the growth of our country? upon the infrastructure provided by the government that they are responsible for funding, and to ultimately increase their spending power? I certainly think so.
not allot of money to them but to the rich its loads when i had seen what she was going to do made me feel sick to my stomach. i work 70hrs a week and have a second job and i get taxed loads and still strugle to pay bills.
Its the same here in cali
Friggin hell , how many times is she going to walk out that door ? 😂
Only to be expected, Kwarteng is toast as I predicted, Truss is in a survival mode. The Red Wall Tories felt the heat and feared their electorates.
@@TK-oq2hf proverbial toast TK but point taken, thankyou...
@@TK-oq2hf No it's not it is a well known phrase. Stop with your woke bs.
She doesnt make any decisions, they are all pre agreed, by her WEF handlers!
The Tories have shown their true colours over and over. Its time for them 2 go. Please sign the gov petition. We need a General Election NOW!
I know 2 many people who may not survive the winter. This is a new kind of cruelty. 😞😢
do a 10% tax cut for low income earners
It’s like they don’t know what they are doing, who could possibly have predicted that?
As if he didn’t tell the cabinet. They really think we’re thick enough to believe that don’t they?
She needs to U turn on her immigration and the shadow EU policies as well! Otherwise they’re toast!!
It’s time for the Tory to go ?!
Too late we want her out and the conservatives
Now she blames the chancellor lol
And people thought Johnson was an incompetent prime minister. Ever since you guys voted for Brexit your country has been going down the drain.
Brexit was stupid. So the Tories had to turn to the most stupid in the party to get it done.,
That stupidity goes far beyond getting Brexit done.
Some democracy this is.
Her and Kwarteng join the other famous duos, laurel and hardy, abbot and Costello…hitler and goering
Putin and Rasputin
Two very think headed people and they are supposed to be graduates from top universities ..... unbelieveable
Kwarteng does a screeching u-turn, but he couldn't have done it without Truss' say so. Unless of course, it's Kwarteng who is PM behind the scenes.
I have a feeling none of them know whose supposed to be doing the work and there's just a lot of screaming.
The various promises before general public of UK to win vote easy way is nothing but to defame the glory of UK. In UK none except the existing Hon'ble PM falsely made various promises which can never come true if the glory of UK retains its position.
We feel proud of Mr Rishi Sunak for not making any false promise to win vote to become the PM of UK.
This time uses false promises for which the glory of UK has been demolished.
What a shambles! Boris, who had a real chance to change things, allowed himself to be swayed back and forth constantly. Looks like she is going the same way.
people think these politicians are fools bt what's scarier is they know exactly what they're doing
The problem is that the lack of aggressive means testing for the electricity subsidies will have a heavy inflationary impact... yes the 45pct rate cut isn't great however it isn't the biggest part of the problem. The lack of a long term solution to electricity prices by incentivising shifting to cheaper power generation is also a problem.
No that isn't the problem, the problem is funding from borrowing rather than from a windfall tax on the excess profits of the energy companies which are not part of their business plans.
The EU said the free market linking renewable pricing to fossil fuel pricing was ridiculous.
So they plan to make the link illegal and have separate markets for each.
The Tories have no plan to do that here.
There is a government policy to be enacted which accords those suppliers using renewables to break pricing away from the wholesale price of gas which is solely pushing up electricity prices thereby acknowledging that other forms of generation are now cheaper and those savings should be reflected in the tariffs customers are charged. E.ON’s blog on government interventions has more detail.
Just get rid of them please, I don't need to say why, regards from Australia.
Those betting against the pound already made their money, job done for the toxic Tories.
Exaxt
At least she is consistent with regards to changing her mind
They need to increase it to 55 p
We have over 2tn in debt. The proposed austerity cuts to help fund the tax cut would only cover 50% of our interest payments. Austerity will never reduce the debt. Only taxing the rich can.
@@johnrussell3961 and then the rich will move their assets out of the U.K. How about the government cut it's spending on Socialist programs and balance the budget that way?
the uk going from bad to worse :(
A true U turn would be to apply the tax rate cut on the (say 25%) lowest earners
Yes
Running scared.... The damage has been done. Goodbye Tories.
I love this government. They do something and then we tell them if it's right. The state of them...
My goodness this woman has to go 🙈 she should not be in this position. I have voted Conservative all my life. I will not vote for this woman or her government. 🙈
Can we all agree not to allow anyone from Eton (e.g. Cameron, Johnson, Kwarteng el al) to hold a postition in government… all confidence and no competence.
Not a good start. Call an election.
Problem Truss has now is that if her tax cuts do work then all the those who were against them will claim it was only successful because they forced her to drop the 45% rate cut.
Giving tax cut to the rich while the poor is struggling to pay bills is immoral even if it grows or benefits the economy …… that is like justifying any other crime, like getting rid of the homeless to benefit the economy….
To me 2 billion pounds is a lot of money regardless of how big the package is as a whole
Plus the 65 billion that the bank of England had to pledge to rescue the pound and the bond markets when this mini budget was announced.
A penny for the thoughts of every tory theyve wheeled out to defend this absolute nonsense now being totally undermined and having to explain why doing the opposite of what they said a few days ago is a good idea now.
Bring back Boris A.S.P
Without going into the merits and demerits of the mini budget tax cuts, one thing that could be surely said is that Truss is the wrong choice Baby, as she doesn't know her way around and can't seem to find it as well.
What a wrong choice for PM!
Don't forget the 45p rate was only the headline it's worth 6-7 billion of your taxpayer money, their corporation giveaway is 40 odd billion and the lack of the windfall tax is 100 billion plus. Add up the 69 billion emergency intervention to save pensions, the losses that weren't saved from the pensions, the hiking of interest rates on new borrowing adds billions to the exchequers maintenance debt going from 40 to 100 billion. Hiking of mortgage rates etc. The damage is up to about half a trillion so far out of taxpayers pockets so far.
But yet the bankers bonuses policy stands
The lady’s not for turning 😂
The higher rate of tax doesn't make increase the tax take. So why have it? It's only there as it wins votes. However, there is no logic to it. Only now are the press saying ' it doesn't really make a differnce'. They were screaming about it last week.
I make 85k and I am AGAINST the tax cut!
Don't need a few thousands more. I need the economy to work and settle and live my life in peace.
I need the pound to be worth SOMETHING
Also, I am a Tory voter extremely dissatisfied with everything from Brexit onwards.
I will be voting Labour because the Tories have let me down more than I could ever imagine.
While I don't agree with a "social" policy, a mediocre policy implemented well is better than some pipe dream that has been ham-fisted into place, "more or less"
Amazing that these are our politicians right now. COMPLETE LOSERS - I wouldn't let them run a sandwich van!
resign
WTF...throw your chancellor under the bus when u were fully behind it? Smh
I want a leader that dont come into power with millions in thier account I want someone that has not alot of money that understands our struggles on a daily basis.and will fight for us sll the way.these millionaire don't care at all.stick them on 10 quid a hour and see who wants the job when they can only earn 24k a year
Yep, never going to happen. The elites would not allow something like that to happen.
Wow, liz truss doing a u-turn, how unexpected. Hopefully she will stay true to form and decide next week that she isn’t the Prime Minister.
As a higher rate tax payer, I would prefer to pay less tax. However, I think this is the right decision given the state of play at the moment.
We have over 2tn in debt due to 12 years of Tory policies which favoured the rich..
We will need the opposite to pay it back..
It's not the right decision. I'm not a higher rate tax payer but higher rate tax payers don't get a personal allowance and are not responsible for bailing out the whole of society.
It's a mess and new sanctions will make it worse.
Most admirable! A prime minister who will listen. A humble cabinet that was willing to do a U turn. This news should benefit the uneasy markets!
She was standing by it firmly yesterday today perhaps not so smug? Wasprepared to make unpopular decisions,seems this one was khasi's.
When will she resign ?