Many commentators are predicting one, based on rises to 25 year highs in longer term government borrowing rates. When these rates rose in 2022 Rachel Reeves called this “ crashing the economy”. All this year the rates have been higher than the one day spiked peak in 2022.
A better question to ask is how can we avoid a crash? There are 4 things the Chancellor should do urgently.
1. As the Bank’s bond portfolio is under dual control, requiring government consent and underwritten by government against loss, the Chancellor should instruct the Bank to stop selling bonds in the market. This would reduce selling pressures which are driving up rates.
2. She should identify spending that can be reduced, deferred or cancelled and announce it to Parliament to replace the lost savings from welfare and pensioner fuel cuts, and add a bit more. Deferring some Net zero expenditures, putting in new criteria for new welfare cases which reduce those getting UC with no need to seek work, ending the battery car subsidies, discontinuing plans to give money to Mauritius, imposing a recruitment freeze on administrative positions in public service, and cutting Bank of England losses could be in the package
3 Rule out any tax rises in budget, learning from the adverse impact the tax rises in the last budget had on confidence and growth.
4 Promote growth by lifting the bans on new oil and gas production and on diesel and petrol car production from 2030. Raise likely tax revenues by removing the farm and small business tax.
August 29, 2025
Good morning.
Our kind host offers some good advice. But since when has any government of any hue ever bothered to take it ?
There will be more tax rises to pay. More raids on people’s wealth, especially older voters. It will win her much praise from the government back benches but the Markets are the ultimate deciders of this Chancer and the governments fait.
For someone who came into office criticising the outgoing for leaving a £20bn black hole in the budget, she will have no room now SHE has created one two and a half times as big.
August 29, 2025
Net Stupid is behind every decision this and the previous governments make. They will not recommence drilling, preferring to import fuel. They will continue to subsidise EVs which now one wants and as for giving money to Mauritius this is an absolute priority.
Helmer is running the government to the detriment of the taxpayer and the Chancellor is too thick to notice.
We need a financial crash if only to rid us of these treasonous shower.
August 29, 2025
So now it’s official. Pixie at the Home ( misnomer) Office says the rights of migrants trumps the rights of the British people.
We always suspected liebour worked for foreign powers now we know it is the truth.
August 29, 2025
Bingo. They must know this, so why do they do it? Is it religion or something more sinister…
August 29, 2025
I’m all for drilling if it makes financial sense (the cost of drilling can vary greatly depending on which country you’re drilling and what the geographical location is like and the facilities for drilling and the whole technical process that supports it).
Does it, though? (I don’t know the arguments for or against). Would it make a big difference or is it just ideological mantra. What do the experts in the oil and gas industry say?
If anything doesn’t make financial sense and you’re doing it for ideological reasons then that’s socialism!
August 29, 2025
So going Green is Socialism.
You need to familiarise yourself with our once thriving gas and oil industry.
Bear in mind that the amount of gas and oil are calculated on a financially viable basis, so the higher the price goes, the more gas and oil is available.
August 29, 2025
?!
August 29, 2025
There was no black hole until she upped spending on arrival. So she created the first black hole, filled it with £40 billion of ERS increases and then magicked £50 billion more of excess expenditure in 8 months.
Truly uncontrolled and spendthrift. Poor leadership from Sir Two Tier and hardly the actions of an iron lady.
August 29, 2025
We’re all agreed, Labour is cr-p. Real question is how do we get a right-wing party back into power here asap.
August 29, 2025
Socialism is c*rap. Rachel has some way to go to match the quantities of cash trashed by Johnson-the-Destroyer.
The real question is ‘how do you create a party worthy of our votes?’ ATM there isn’t one.
August 29, 2025
You’re not exactly bursting with hope for the future are you?!
August 29, 2025
John it may be a silly and naive question, but when the Bank rate was at near zero for many years, why did the then government at the time, not take out, or change all or some of our borrowing to fixed rate loans, to help secure the financial future for a number of years forward.
If the government wants/needs to borrow more money, why not increase the Premium Bond holdings limit, why not introduce new NSi bonds, etc etc, as this would give two advantages.
The Country then borrows at low rates, if pitched sensibly the population can also get a reasonable return at low risk on their savings.
Surely this is more sensible than just raising taxes, which means all of our disposable income goes down, which means less spending, which cripples the economy further.
Reply Yes I urged them to borrow more long term when rates were low. I am currently pro issuing more National Savings
August 29, 2025
You are right of course but I cannot see the present , incompetent crew having either the imagination or courage to do these sensible things
August 29, 2025
Agreed David. Although the reason isn’t lack of courage it is excessive zealotry. Labour worship hand-outs, higher taxes on the “rich” and net zero. The high priest will continue his current activities in the belief they work. All we’ll see is doubling down on bad ideas.
August 29, 2025
They do see larger theft from the “rich” as the solution for ever greater handouts to anyone who claims to be “in need”
A thorough audit of where the handouts go and if there could be significant savings by curtailing the party could be part of number 2. A cut in employer pension contributions to 5% and a change to defined contribution would be a very quick win.
Sir John why is public sector pension reform never on any of your lists for reduction in spending?
Reply Osbourne blocked it when I did a lot of work on it. This government unlikely to go there.
August 29, 2025
Yes we know why the government will not go there, turkeys voting for Christmas springs to mind.
No matter that the gold plated benefits many of them get on retirement, would cost far more on the open market than anyone could ever buy at the present Pension cap.
August 29, 2025
Labours dilemma is that now they are ‘the rich’, and not past fancy footwork to avoid Stamp Duty.
August 29, 2025
+1
Do as I say, not as I do syndrome.
Your Primary residence should be the address where all of your tax details and NHS numbers are registered, because that is where I would guess is where you spend most of your time.
August 29, 2025
I think they don’t lack courage, the destruction of our economy is the mainstay of the plan to level the UK to the join the lowest of the rest of the world.
August 29, 2025
A set of wise suggestions, but unlikely to be taken up by a Chancellor and government hell bent on zealous self destruction. Nor would their own left wing in Parliament support it. The same motivations prevent any real deterent action on legal and illegal immigration. They prefer to clutch at the mythical black tory hole that on their watch grows daily into something all too real. Their doom loop contains no roll out at the top, just a stalled inverted spin through lack of momentum.
Had a family gathering over lunch yesterday. A family that contains a degree of Quaker sympathies, much engineering background and no shortage of entrepreneurial experience, present and historical from the industrial revolution. In light of current government performance there was not a positive word to be said. All await their end, soonest rather than later. While giving questioning support to Reform, there is no illusion as to the enormity of the task that will challenge their arrival. Do not expect “Hey Presto” and the appearance of a white rabbit.
August 29, 2025
Agricola
Similar discussion yesterday when on a trip out with some retired friends, all been in very senior positions in commercial business, construction, engineering, and sales.
Feeling being the Government have completely lost the plot, and have absolutely no idea as to how to run anything efficiently or sensibly, tax, spend, and waste will continue as will tax rises, until they either realise their errors (unlikely) and are replaced or resign.
The Country is now being run on political dogma ideas, which in effect is a war against financial success/competence in all of its forms.
August 29, 2025
Interestingly nearly all of the above friends children are now working in State or Local Authority taxpayer funded occupations, our two daughters for the moment are still involved in the Commercial World..
Perhaps their kids saw the light many years ago, go for a state funded Job/career (in many cases for life) rather than in the Commercial World where life appears to be a rather more challenging, tough and more unsettled environment.
August 29, 2025
I think your point on political dogma, socialise the nation completely, is the motivation here; viz- Tax the private sector until it stops working then take over what’s left, leaving the public sector alone to provide employment.
We know from history that this is moronic thinking but then this Labour party has never had to worry about balancing income and expenditure of a business and thinks the BoE can give them all the money they need.
There has been NO hint of cutting expenses only what will be taxed more. Dark days ahead.
August 29, 2025
The question is not whether the Government will listen to this advice. Of course they won’t. It’s whether the Opposition, led by Kemi Badenoch, will adopt it. Let’s see.
August 29, 2025
Assuming that the Chancellor is incapable of learning from experience, even her own experience, it can be anticipated that she will do none of the 4 critical things to avoid a crash.
Therefore a crash is inevitable.
August 29, 2025
Lynn
Sadly I have to agree. Tough times ahead for all of us who will have to pay for their mistakes.
August 29, 2025
We may have to wait some time before a crash, during which the prospects for the country become progressively dire. The money markets won’t stop buying UK debt until it’s clear the country can’t sustain it. The government would rather trim state pension than stop increasing debt interest.
Reform could precipitate matters by suggesting they won’t honour debt interest above a certain threshold when they get into power. That would spook the loan sharks we generously call money markets, and force the government to curb spending.
August 29, 2025
Plus:-
Ditch HS2, ditch net zero, ditch subsidies and market rigging for EVs and heat pumps, transport policy, housing, education… Encourage more people to pay for their own healthcare and education with tax breaks and part payments for people on waiting lists. Cancel most soft student loans for duff university degrees or in duff subjects. Perhaps circa 10% at best of them are worthwhile. Extend learning on the job for practical skills with day release or night school. Start perhaps with loans for PPE Oxon if they turn out people like Torsten Bell, Cameron, Hunt, Hancock, Sunak…
Last time I saw the figures the median entry grades for university in the UK were about two Ds at A level! Many universities only survive financially by in effect selling UK residence rights to overseas “students”.
Have a bonfire of red tape. Halve the size of the state sector, cut taxes, encourage inward investment, ditch the current energy policy.
So U-turns on all of Reeves’s mad Doom Loop agenda.
Reply With your great education you could offer more thought through and realistic spending cuts. Halving the state sector is not realistic or helpful advice to a Labour government.
August 29, 2025
Close nearly all the quangos, reduce low skilled immigration to zero, force all healthy people to get a job by large changes to tax & benefit rules to make it worthwhile and essential for them. Rachael Reeves is another PPE Oxon person, though unlike most of the Cabinet does have decent A levels in sound subjects. So little excuse for her gross ineptitude other than pressure from her mad party! But she joined the deluded economically illiterate Labour Party!
August 29, 2025
@ Lifelogic “Close nearly all the quangos..” – yet repeatedly in the past when Sir John has invited nominations about which quangos from commenters here answer comes there not.
The functions performed by many quangos (HMRC for example) are essential so abolition would require typically the wholesale transfer of staff and resources to a government department, achieving nothing much so far as continuing cost is concerned.
As for force all healthy people to get a job” there are not the vacancies so many unemployed might well find such a proposal offensive. If cost saving is the aim, the vast numbers now on welfare benefits that come with no requirement to look for work might be a better yielding target.
August 29, 2025
There will be more than sufficient vacancies once we scrap net zero rip off energy, businesses and workers are taxed less, regulated less and benefits are made less attractive than is working! Do we not need millions of houses building.
August 29, 2025
Surely HMRC is not a quango but a Department of Government.
August 29, 2025
HMRC exhibits quango-like traits due to its operational independence in day-to-day management and its ability to set certain administrative policies. Its direct accountability to ministers and its status as a department does mean that you make a fair point, it does not fully fit the traditional quango definition.
The issue remains, of course, that much of what is done must still be done, whether under the rubric of quango or ministerial department or some other.
August 29, 2025
@formula57 – A Government Minister and Parliament responsible for how the Taxpayers money is spent and what it produces – surely not
August 30, 2025
I’d start by scrapping the new Football Regulator and move onto GB Energy (even their CEO doesn’t appear to know what it’s for).
August 29, 2025
@Reply – the rule of thumb should be anything that the State, therefore the Taxpayer pays for that can be done by tender to competing industries – should be. Even the NHS has become and administrative Quango, the clinicians are no longer in control.
UK Quangos said to be 300 and Labour is adding another 20 to the number, all consuming Taxpayer money, without accountability or responsibility. The MOD is not far short in numbers than the whole of the Army available for the front-line.
There wont be any cuts while this crowd are in power, they are funded by the Unions and Labour is creating a Union membership funded by the Taxpayer. Another political grouping may see things differently.
August 29, 2025
@Lifelogic,
No doubt you’re great at business but you’d make a lousy political as you’re all medicine but no sugar (you remind me of Pip’s sister in Great Expectations who makes him drink tar water – instead of Mary Poppins and a spoonful of sugar makes medicine go down)!
No-one would vote for you except a small group of people from your club or pub!
August 29, 2025
Well I am not trying to get elected. I am merely pointing out what would make people happier, better off, healthier and would work best for people on average. This is certainly not more benefits, more taxes, more government, more low skilled immigration many of them criminals, no deterrent criminal justice and ever more red tape as Labour are pushing endlessly!
August 29, 2025
You say lots of great things for sure (not knocking you overall). My problem is it’s all medicine. That’s never going to get a party elected. There has to be some sugar (for example, saying we’re going to help create the UK as the world’s second Silicon Valley similar to how the US government helped create Silicon Valley in California). That gives people hope. And hope based in reality. With real benefits. And an exciting project to work towards.
Or to put it another way, your like the health worker trying to get the cocaine addict off cocaine by making him go pure cold turkey. Instead offering (tough) stages of getting off that cocaine by staggering it out a bit and giving incentives to help the person get off the cocaine. For over-dependance on state / bureaucracy / over-borrowing etc is like an addiction.
Reply If you wish to keep on about creating a new Silicon Valley here you need to explain how. You usually support making things more difficult for the US tec mega companies who do provide the investment and jobs in this sector, helping drive them to Ireland.
August 29, 2025
@Ed M – ‘hope based in reality’ you are suggesting things requiring vast amounts of energy. First problem our Parliament is focused on importing it, and making the UK hostage to other Nations political whims. Then there is the cost, with the UK 4 times the price of its major competitors it is more than just handicapped.
August 29, 2025
Ed, Britain had the FIRST ‘silicon valley’.
Did you know that?
Then by following your espoused politics we drove the people with the ‘white heat of technology’ abroad.
August 29, 2025
‘If you wish to keep on about creating a new Silicon Valley here you need to explain how’
1) MORE HOMES. Make Cambridge a priority for the building of new (quality and aesthetically-pleasing) homes for the workers of UK’s Silicon Valley to work in.
2) BETTER TRANSPORT. Improve transport in the Cambridge area (and from Cambridge to Oxford – and in time, between these two cities and London). Both car and rail.
3) ENCOURAGE PRIVATE INVESTMENT. A) Various tax breaks and incentives to encourage more private investors into this region. Many different thing to explore including how the Israeli government helped to facilitate Tel Aviv’s tech hub status by matching government funds and tax incentives for foreign venture capital. B) More government funding for more scientific and technology research and development in this area as US government helped develop Silicon Valley.
That’s a good start.
Reply That is current and past government policy.
August 29, 2025
Lynn,
‘I only support 3% digital tax as a way to fight back against Trump and his tariffs on the UK. But we can only introduce this tax along with other countries. And once Trump and his tariffs are gone, we can rescind the tax.
Reply You do not understand that to have a bigger tech industry here we need to welcome more US digital company engagement here.
August 30, 2025
+1 to the reply!
August 30, 2025
‘You usually support making things more difficult for the US tec mega companies who do provide the investment and jobs in this sector, helping drive them to Ireland’
– How does that work if Ireland would also be imposing 3% digital tax as well under joined EU plan to impose this tax?
Like I said before, this tax is:
1) Only about countering Trump’s tariffs. Without any kind of resistance, Trump will carry on down this line.
2) As soon as Trump and his tariffs go, the tax is rescinded (but we don’t tell Trump that but we tell the markets that once he and his tariffs have gone).
3) The UK can only impose the 3% tax if other countries do something similar. It has to be a joint effort.
August 30, 2025
@SIr John and Lifelogic,
Softening on digital tax is the position of Keir Starmer and the Labour government.
Where as Merz of the CDU is going more in the other direction – the need to impose this digital tax on the USA.
(Again, I only believe in it so as not to be passive / appease Trump over his tariffs on the UK and that we must only impose along with other countries – not alone – and to rescind the tax once Trump and his tariffs are gone.
You can’t allow the rogue, chaotic political forces which Trump embodies to go completely unchecked otherwise he will just go more rogue and chaotic with the UK and other countries)
August 30, 2025
And once we establish Silicon Valley Cambridge-Oxford-London (not easy / huge project) then we can look to start levelling up in the North by trying to recreate some kind of British German-like car industry (and related tech) in the North of England (Manchester-Sheffield-Leeds).
August 29, 2025
Bankrupting the population is no way to get elected, the Tories learned tha5 the hard way and now Labour will be taught the lesson.
I would vote for you LL.
August 29, 2025
To reply:- half of the state sector does nothing of much or any real value and a great deal of it does actual net harm things like net zero, net harm Covid Lockdowns, Covid “vaccines” (still being inflicted on the elderly), HS2, energy market rigging, benefits to augment the feckless, duff worthless degrees everywhere with soft loans, hotels for economic low skilled migramts… so halving the state sector is perfectly possible and v. sensible!
August 29, 2025
Torsten Bell MP the other day asked about the cost of living crisis said “that is why we have increased the minimum wage” so is the man totally deluded or just lying about the effect of this policy?
Increasing the minimum wage and employers NI hugely increases the cost of living as it is another cost for businesses that has to be recovered mainly by large price increases, it is also a huge tax increase as circa 50% of the increase goes directly back to the government in tax, NI, VAT… Surely even PPE Oxon graduates can see this is the direct effect.
August 29, 2025
@Lifelogic – his writings now and in his former life shows he is deluded. In detail he sees all ownership, money, property, etc as being the States Ownership, The mere Minions, even the Wealth creators should only receive the pocket money, for the essential that he in his person egotistical world deems appropriate.
He in essence decrees enslavement and his friends in power as the Lords
August 29, 2025
Do you think he picked this up with his PPE Oxon studies. or was he a deluded lefty dope with a chip on the shoulder already and so chose to read PPE?
August 29, 2025
@Lifelogic – he or someone that knows him put it down in the media as the result of his Scandinavian up bring experience by his brother and himself. The desire to push to a totalitarian Marxist State as long it is him and his pals in charge. Everyone pays but the leadership.
August 29, 2025
Torsten Bell has many, many tax raising ideas that will fleece all but those on benefits.
Guido Fawkes outlined his past history, actions and political thoughts just a few days ago.
August 29, 2025
+1 doom loop lunacy. Reeves read PPE too.
August 29, 2025
@Berkshire Alan. NIC on all rental income and the removal of inherited wealth, as the State is the only recipient of the departed wealth, are the recent ideas spouted as coming from him. Then when you read his numerous outpourings you have to deduce they are all true.
August 29, 2025
You’re wrong about the minimum wage in general (although now not a good time to raise it).
Yes, it’s not perfect either but the alternative is for businesses to hire immigrants and so more native people end up unemployed / in bad jobs which means higher social security and others costs and so higher taxation.
It’s fantasy to think you can have both low taxation and low salaries!
So if you want to cut down on immigration and tax then minimum wage is essential (and it’s sends out a powerful psychological signal for native people to go work and work hard – your approach just leaves people in a state of despair, not wanting to go out and work hard).
August 29, 2025
You are VERY confused.
I would stick to the day job.
August 29, 2025
Here’s a clue.
No Immigrants.
Demand for employees.
Only people available – ours.
Businesses compete for the best by paying more.
Those who want good pay work harder (more productive) to get the best jobs.
Ergo low quality unlimited numbers of immigrants drive down wages.
Follow?
August 29, 2025
The problem created by the Government, low wages and big unemployment, can’t be rectified by Government counter action.
They are betting AGAINST themselves.
Therefore they can’t win.
August 30, 2025
You don’t understand my argument about down-to-earth human psychology.
You’re off on a tangent about intricate politics and economy theory which is off the radar for the working man who wants to do a days work, get out – and go to the pub.
What you say here is essentially unrelatable to voters and workers which is bad politics.
Politics has to be both smart, yes, but relatable (at least when it comes to how things immediately AFFECT working people).
When it comes to things like geopolitics, you can go off into deep theory and strategy galore. As it won’t bother vast majority of workers focused on their salaries.
Reply Reform on 35%, Conservatives on 17%, so 52% want radical change
August 29, 2025
I merely point out that raising the minimum wage put up prices a lot, deters investment, reduces jobs and increases the tax take. I am not mistake at all. Where do the companies get the money from to pay higher wages and the much higher taxes on these? Higher prices, fewer workers, less investment… or they jist give up!
August 30, 2025
Lifelogic – not going to flatter you that you’re a very smart man when it comes to business and economics and all that. No doubt at all.
Problem is this is more about psychology than economics. It’s about giving the average man who has probably just got a few O’Levels or none at all a basic understanding that he’s guaranteed to know what kind of salary he’s going to get. It’s the feeling of SECURITY that minimum wage offers people that gets lots of people off their backs-des. They’re able to plan in a very instinctive way about the future and which gives them hope.
What you say is going to wash over the heads of most workers. But more than this, they want the GUARANTEE of a minimum wages. Not preconditions of what they may or may not earn.
Sure, this is challenging to business owners. I am sympathetic to their position. But it’s going to cost them a lot more when they have to pay higher taxes because of LOW PRODUCTIVITY. That’s a huge problem LOW PRODUCTIVITY which your proposal only undermines more.
August 29, 2025
Sensible suggestions. What a pity the government only listens to socialist think tanks and other sources of ruinous policy.
What is difficult to understand is that we here who agree with most of what you say on the blog may represent a minority of voters. The last poll I saw put Reform 28% and Tory 17%; Labour 20%, Libdems 16%, Greens 11%. I.e. 45% traditionalist, 47% progressive (for want of any better labels).
I can’t understand why anyone with a job outside of government/quango/NGO would vote for “the other lot”. Why do they still have such support? Do people understand the harm Net Zero, uncontrolled immigration and state expansion are doing, let alone some of the more specific points you rightly point to in today’s blog?
August 29, 2025
The ‘people’ don’t understand!, when bombarded with BBC type propaganda for years and years they grow up believing the fairy stories and blatant lies. And with the farce of the claimed democracy we live in they wring hands and turn a blind eye on reality. APATHY rules.
August 29, 2025
@Wanderer – equally frightening is that poll suggest that it is the view of the electorate as a whole. The worrying bit there is that Labour on 20% of the electorate, is exactly the same percentage they had at the last election on that basis their support is rock solid.
I disagree with your suggestion of traditionalist, when a major chunk of them are still the ones that are looking for continuity(still WEF attendees) and had the collective responsibility when in power for today ills. As much as we concentrate of today problems it is hard to forget those that owned them, could have changed things, then didn’t – they refused.
Reply Labour polled 33% of those voting, would only poll 20% of those voting today if polls are right
August 29, 2025
@Reply – I was careful to use the words using ‘electorate’ as other do. You chose the words of those that ‘voted’. As you know more people abstained than usual, just guessing, more people felt they were disenfranchised than ever, they were certainly left without choice. If their number had been counted as ‘none of the above’ they would have been the largest group.
Here in Wokingham who could we vote for? Someone that has never been here, never introduced themselves, made no efforts, or as it turned out someone else that doesn’t live here either. The Conservative certainly weren’t interested in the seat
Of 48 million on the electoral roll labour received just 9.7 million votes as near as it make no difference around 20%. Then 19 million chose not to vote, could be apathy but is also clearly being disenfranchised, that’s how far the UK’s politics has sunk.
August 29, 2025
There is an assumption that the Government wants to avoid a financial crash. Why, when everything they are doing is making it more likely?
I suggest that Two-Tier’s Masters believe that is how they will be able to get the UK back into the EU and any bailout from the IMF will come with those strings firmly attached.
August 29, 2025
Either this or they are doom loop and net zero deluded morons! Evil or moronic?
August 30, 2025
That’s not necessarily an either / or choice 🙂
I have consistently said that the people in the Government (not the backbenches) aren’t stupid; they’re Globalist-Socialist ideologues, with an agenda which they are implementing.
Based on the pitch-rolling which is going on, the impending Budget looks very much to me like it will be an acceleration of the “you will own nothing” objective – with owners of private property taxed on the value of their assets (houses) which will inevitably deter some from acquiring those assets (houses) in the future and force some who already own them to dispose of them (downsize) and get clobbered with tax for doing that as well.
The long-term aim appears to be to destroy the idea of a property-owning society and turn us into a more “continental” society – where a far higher percentage people live their entire lives in rented accommodation.
August 29, 2025
Bailey has recently indicated that he will stop or slow the bond selling.
August 29, 2025
There has been no change of policy by the Bank surely? Rather the Bank’s approach to QT remains guided by its goal to reduce its balance sheet while avoiding market disruption.
So it has maintained an annual target of reducing its gilt holdings by £80 billion, primarily through active sales and maturities, but it is true that it has adjusted the pace or type of sales when necessary. That was last seen in the April 2025 postponement of an auction of long-dated gilts in the face of market volatility, opting to sell shorter-term bonds instead, when yields on 30-year gilts hit a high of 5.58%, the highest since 1998. It would seem the Bank is alert to the damage being done by Wrecker Reeves if not by itself.
August 29, 2025
“She should……..” But of course she won’t. SJR’s suggested measures are far too sensible. There is no chance of her doing what is needed, i.e. more or less the exact opposite of what she has been doing.
August 29, 2025
Fat chance she will do any of the items suggested. There is too much ideological baggage to be shed.
August 29, 2025
When world thinks your country going to war rates always go up,
August 29, 2025
5. Model how lower tax rates generate more revenue (even if just for a short time to allow profit taking).
August 29, 2025
Great idea, unfortunately no one in the treasury seems to have heard of the Laffer Curve, or if they have they are silenced by the ideologues.
August 29, 2025
There is clearly a deep commitment to the international Net Zero project which needs to be ditched. The political class are afraid to challenge the given policy and instead employ champions such as Ed Miliband Greta Thunberg Al Gore John Kerry and many others to keep making the case for how fine the King’s new clothes are.
The damage Net Zero policies are having on the nation is so profound the only option is to stop them.
No serious business will look to expand here in the UK while the threat of ever higher energy costs are our future. We are already the highest cost energy in the developed world.
That is the metric we must focus on and change.
August 29, 2025
Certainly “A better question to ask is how can we avoid a crash?” yet Wrecker Reeves’s limitations likely mean the more germane question is to ask how can we profit from a crash?
August 29, 2025
Sir John
I know you you use these phrases because everyone else does “underwritten by government against loss”, we need to move away from suggesting ‘Government’ when it should be the ‘Taxpayer’
August 29, 2025
Interring to get the Government’s comments on not following any of the above suggestions
August 29, 2025
When ‘Rachel Reeves’ sits in Cabinet with her collective responsibility team of Ministers, what comes out is what they all agree. Then as further scrutiny we get more than 50% of Parliament supporting this agreed drift to decline. Logic it is not one person in isolation.
In a nutshell there is a lot of people we pay and empower that think that the destruction of the UK at every level is a good idea.
I am sure they know what impact the direction they have supported is having on the Country. Like us they get to hear it and see it in the media even if the don’t personally feel it in their daily lives. Equally I am sure the howls of disbelief and discontent we show, they see these as their badge of honour – Socialism is working. The WEF’s ‘Great Reset’ is working they are framing the new world based on the two tier system of ‘them-and-us’
These are religious political ideologues that want a World, or at least the UK, in their own personal image. While we can complain offer alternatives, use common sense, but they see is awards and they get to pat themselves on the back.
August 29, 2025
Stealing money from people’s bank accounts, as they did in Cyprus, will be their next action. Most people are unaware that the banks have changed the order of liability over the past few years, making depositors’ cash extremely vulnerable. The main aim of these commies, who fools have voted into power, is to level up the wealth of the population, excluding themselves and their friends, of course. Expect to see more bank crashes over the winter. Make sure your assets are spread widely.
August 29, 2025
‘Bale-in’
Not law in the U.K. atm. Was emergency law in the EU passed over a weekend and the bank accounts emptied overnight. Bu5 then they just put the law on the statute book, so no longer ‘emergency legislation’.
I wonder if Northern Ireland is not particularly vulnerable?
August 29, 2025
The PM, Deputy PM, Chancellor, Home and Foreign Secretaries are like horses with blinkers on. The blinkers keep the horse focused on the path ahead. The same with these Ministers, they can only see the rose-tinted path ahead and so ignore the reality of what is happening.
They only listen to the people around them, who agree with them. That is the danger in any position of authority,
when you stop listening to those who disagree with you, then you stop learning.
The UK is the Titanic, the Government is the crew and no one can see the iceberg ahead!
August 29, 2025
They don’t wear blinkers, they are totally blindfolded.
August 29, 2025
KfL :
I don’t think they’re horses with blinkers. I believe they know exactly what they are doing and what is being said about it. I would describe their Net Zero de-industrialisation and forced electrification mission as equivalent to Stalin’s Collectivisation Programme. Only feasible with a command economy and rationing.
August 29, 2025
Wealth is created in 3 possible ways – grow it, dig it up or add value. Labour are closing down farming; mining and oil extraction has stopped; adding value – i.e. manufacturing has gone to USA or China because off energy costs. This government is doing it best to close down the UK and the only “growth” will be in the public sector of course. In 10 years there will be no wealth in the UK. I despair.
August 29, 2025
Great article (hope Ms Reeves read it).
I would add though that she needs to focus on doing everything she can to help people in the High Tech sector.
August 29, 2025
Why are the6 struggling? Or are you sponsored by that sector? Hoping for a seat in the govt created fake Silicon Valley?
August 30, 2025
No. I want my country to do well. I’m a patriot.
August 29, 2025
I see that all the banks are tanking 5% this morning
August 29, 2025
Of course the Chancellor knows how to avoid a financial crash. As well as a PPE from Oxford she has a master’s degree in economics from the London School of Economics. It is more plausible to believe that a financial crash is the goal as socialism depends upon making and keeping people poor rather than ignorance or incompetence. And do not forget that our PM before he was elected to Parliament, served on the executive committee of the Fabian Society, a far left movement, whose logo is a wolf in sheep’s clothing. BTW, cancelling the Net Zero Clean Power 2030 mission would save the NESO costed £40bn+ annually (£8000/household).
August 29, 2025
+1
August 29, 2025
Victor Orban has just presented Geo4g Soros’ 2015 plan to flood the EU with at least a million asylum seekers annually’.
But we are told the Home Secretary is legally obliged to stop any asylum seeker from being destitute.
Maybe we need that law extended to the U.K. Population? Not one of us allowed by law to become destitute – never choose between heat and eat again.
August 29, 2025
And Sweden has announced that it will deport migrants who have been granted Swedish citizenship but failed to integrate.
They say Citizenship comes with responsibilities.
August 29, 2025
We have an “Irregular” Government who is dysfunctional and averse to financial discipline and fiscal responsibility following the size 9 footsteps of Gordon Brown to throw out the common sense rule book and decided to boldly go where no sane chancellor had gone before like ditching 400 tonnes
gold that was not his own, like a drunken sailor, then revelling in the nonsense until a certain Nigel Farage disabused him of his stupidity.