[ali k]

‘Left-wing establishment’ must be a shibboleth, the meaning of I am not aware.

It’s more famously known as the ‘anti-growth coalition’ if that helps.

[TobyD]

To bring it back to that Times opinion Toby posted a while back...why can't people these days just fuck off?!

I thought exactly the same thing! Ditto for Johnson.

[TobyD]

‘Left-wing establishment’ must be a shibboleth, the meaning of I am not aware.

It’s more famously known as the ‘anti-growth coalition’ if that helps.

Also known as the bond markets, most of the MPs in parliament, anyone who has a mortgage, or eats tofu etc

[Offwidth]

"However, brewing in the background there was an issue relating to pension funds, which neither of us had been made aware of – a problem that would ultimately bring my premiership to an abrupt and premature end because of the panic it induced.

At no point during any of the preparations for the mini-Budget had any concerns about liability-driven investments (LDIs) and the risk they posed to bond markets been mentioned at all to me, the chancellor or any of our teams by officials at the Treasury."

I'm not defending Truss on that but the UK mechanism that values Defined Benefit (DB) pensions is broken and this leads to all sorts of market distortions that encourage bad financial actions. If you look at money-in versus money-out, DB pensions are mostly in much better 'nick' than valuations indicate. The classic example was the closure of the Miners' DB pension scheme and the UK government taking over the pot (with a deal to take 50% of any profiits). Valuations indicated the pension was in trouble and the Telegraph campaigned it would cost the UK taxpayer a fortune. Yet because the valuation piles caution upon caution, the scheme has been making half a billion annual profit for the government for nearly two decades.

I'd add that I've been watching DB pensions way more than most and had missed that the contradictory factors of derisking towards bonds and the need to meet fund growth targets had led to pension managers leveraging bonds. This was supposedly increasing the proportion of investment in low risk products (bonds) and yet making the way  investment in those bonds happened way more risky. The Truss 'idiot experiment' exposed that market poor practice and came close to crashing many pension funds.

[mrjonathanr]

Are global bond-markets a part of the left-wing establishment? That does not scan. ‘Left-wing establishment’ must be a shibboleth, the meaning of I am not aware.

''Left wing establishment'' : oxymoron, synonymous with 'bogeyman' and 'it's everybody else's fault, not mine'.

Handily reminding the public that these people are as unrepentant, reckless and as dangerous as ever.

[TobyD]

Are global bond-markets a part of the left-wing establishment? That does not scan. ‘Left-wing establishment’ must be a shibboleth, the meaning of I am not aware.

''Left wing establishment'' : oxymoron, synonymous with 'bogeyman' and 'it's everybody else's fault, not mine'.

Handily reminding the public that these people are as unrepentant, reckless and as dangerous as ever.

The left wing wokey establishment that according to Truss and much of the right of centre media, run the country, despite 13 years of Conservative government.

There is a good interview with Michel Barnier on The Rest is Politics podcast at the moment in which they discuss the shocking amateurism of the British government during Brexit negotiation.

[mrjonathanr]

These people?

[lukeyboy]

I presume it's this:

https://www.msn.com/en-gb/money/other/liz-truss-exclusive-i-assumed-upon-entering-downing-street-my-mandate-would-be-respected-how-wrong-i-was/ar-AA1778Eg

 What a load of

It's not my fault I didn't understand how the economy works:

"However, brewing in the background there was an issue relating to pension funds, which neither of us had been made aware of – a problem that would ultimately bring my premiership to an abrupt and premature end because of the panic it induced.

At no point during any of the preparations for the mini-Budget had any concerns about liability-driven investments (LDIs) and the risk they posed to bond markets been mentioned at all to me, the chancellor or any of our teams by officials at the Treasury."

My understanding was that they very deliberately dressed it up as a "mini budget" to avoid the usual checks and balances which would be carried out by BofE or whoever on a regular budget.

So saying 'no-one warned us this would happen' when you've  misrepresented the truth to avoid anyone sensible being able to sign it off as economically sane, seems more than a bit rich.

[TobyD]

These people?

Strangely enough he does specifically mention David Davis,  who thought EU institutions would stay in London after Brexit; although with less disdain than Raab and his lack of knowledge about the importance of the Dover Calais crossing. 

[TobyD]

I presume it's this:

https://www.msn.com/en-gb/money/other/liz-truss-exclusive-i-assumed-upon-entering-downing-street-my-mandate-would-be-respected-how-wrong-i-was/ar-AA1778Eg

 What a load of

It's not my fault I didn't understand how the economy works:

"However, brewing in the background there was an issue relating to pension funds, which neither of us had been made aware of – a problem that would ultimately bring my premiership to an abrupt and premature end because of the panic it induced.

At no point during any of the preparations for the mini-Budget had any concerns about liability-driven investments (LDIs) and the risk they posed to bond markets been mentioned at all to me, the chancellor or any of our teams by officials at the Treasury."

My understanding was that they very deliberately dressed it up as a "mini budget" to avoid the usual checks and balances which would be carried out by BofE or whoever on a regular budget.

So saying 'no-one warned us this would happen' when you've  misrepresented the truth to avoid anyone sensible being able to sign it off as economically sane, seems more than a bit rich.

Not to mention that Sunak specifically told her what would happen in a nationally broadcast debate with complete accuracy. 

[mrjonathanr]

Sunak specifically told her what would happen in a nationally broadcast debate with complete accuracy.

Ah, that’s who she means by

the left wing establishment

[ali k]

There is a good interview with Michel Barnier on The Rest is Politics podcast at the moment in which they discuss the shocking amateurism of the British government during Brexit negotiation.

[Pedant Alert]
It’s on the ‘Leading’ podcast, a separate spin off from their standard TRIP one. Just in case anyone goes looking for it. Highly recommended for the reasons Toby mentions - utter stupidity of the ministers involved, their lack of any detail on the subject, and amateurish attempts to get the better of Barnier.

[TobyD]

There is a good interview with Michel Barnier on The Rest is Politics podcast at the moment in which they discuss the shocking amateurism of the British government during Brexit negotiation.

[Pedant Alert]
It’s on the ‘Leading’ podcast, a separate spin off from their standard TRIP one. Just in case anyone goes looking for it. Highly recommended for the reasons Toby mentions - utter stupidity of the ministers involved, their lack of any detail on the subject, and amateurish attempts to get the better of Barnier.

Cheers, here's the link:
https://open.spotify.com/episode/7pNbKekOWrGlsXTdJxbIln?si=BTLAxfWCSv-wQGDE632F7Q

[Oldmanmatt]

I love that the Spitting Image re-boot is struggling to pick who to caricature because of the high turnover in cabinet members…
https://news.sky.com/story/spitting-image-stages-revival-and-one-politician-who-makes-the-cut-is-the-surprise-hit-of-the-show-12805658

[TobyD]

It's depressingly inevitable, Sunak does something mildly sensible (on NI) and the mad conservative right wing do their best to scupper it and they all f_ up the country a bit more while they have a big argument about Europe. Nothing works in the UK anymore and the government just don't seem to be bothered. A change of government can't come soon enough.
There's an article on the Guardian by Simon Jenkins saying that Sunak should remove the whip from Johnson if he votes against his deal. Maybe he should do that anyway.

[ali k]

The europhobic loons can whinge all they want. Same with Johnson. It won’t make a difference this time.

The real question is why wasn’t this deal done years ago? And it’s beyond irony that Sunak is spending all his time now talking about how good it is for NI to have access to the single market and also trashing the protocol which he was so proud of just a couple of years ago.

[andy popp]

Well, yesterday's "Stop the Boats" announcement (lectern and all) really plumbed new depths of cruelty and stupidity. Shameful.

Particularly abhorrent is the removal of the protection of the modern slavery system. Find yourself trafficked and enslaved? Sorry, you've just rendered yourself ineligible for the protections we offer to people who find themselves trafficked and enslaved.

[SA Chris]

Horrific.

[ali k]

The worst thing about this is that Sunak et al know perfectly well it isn’t workable, will be challenged at every stage, and there’s zero chance it would be up and running before 2025. So it’s just cynical electioneering at the expense of the UK’s international reputation. They’re setting up a fight with ‘lefty lawyers’, Strasbourg, ‘the blob’, and Labour in the run up to the election and will blame them all when the policy fails.

[remus]

Well, yesterday's "Stop the Boats" announcement (lectern and all) really plumbed new depths of cruelty and stupidity. Shameful.

Particularly abhorrent is the removal of the protection of the modern slavery system. Find yourself trafficked and enslaved? Sorry, you've just rendered yourself ineligible for the protections we offer to people who find themselves trafficked and enslaved.

Shameful indeed. Simple abdication of our responsibility to people in dire need.

Braverman's attack on the justice system in her speech to parliament was particularly disgusting: "Our ability to control our borders cannot be held back by an opaque process conducted late at night with no chance to make our case or even appeal decisions." Is she seriously saying that the government should not have to be accountable to the courts because it can't get it's shit together to put together an argument in court? The problem there is not with the courts...

[MischaHY]

Imagine being the daughter of immigrants and still being this bone-headed about immigration and refugees.

I'm starting to wonder if there is a psychosocial response to experiencing racial/social predjudice which leads to aligning with ultra right-wing nationalistic views as some kind of self-defense mechanism. Braverman isn't the only one.

Probably absolute toss but it does seem really weird. Am I missing something?

[tommytwotone]

I'm old enough to remember The Tories getting pilloried in opposition when Michael Howard was in charge for running a "dog whistle" campaign.

I think it's fair to say that we're well through the looking glass now.

[Oldmanmatt]

I'm old enough to remember The Tories getting pilloried in opposition when Michael Howard was in charge for running a "dog whistle" campaign.

I think it's fair to say that we're well through the looking glass now.

Hmmm…
Yes, we’re at about the “Five tone, air raid siren, dog whistle”, stage.

We’re soon going to see jobbing law firms spamming our social media feeds with ads along the lines of “have you incurred hearing loss due to Tory party dog whistling? You might be entitled to compensation…”

[Mike Highbury]

I'm old enough to remember The Tories getting pilloried in opposition when Michael Howard was in charge for running a "dog whistle" campaign.

He's a member of my synagogue.

If I'm on the door when he turns up, I promise to not let him in.

[Johnny Brown]

Imagine being the daughter of immigrants and still being this bone-headed about immigration and refugees.

I'm starting to wonder if there is a psychosocial response to experiencing racial/social predjudice which leads to aligning with ultra right-wing nationalistic views as some kind of self-defense mechanism. Braverman isn't the only one.

Probably absolute toss but it does seem really weird. Am I missing something?

Well they're not coming straight from the Garden of Eden. Worth noting that both Patel and Braverman came from Indian families that emigrated first to Africa - Uganda and Kenya respectively - before the UK. Within the British Empire Indians were typically used (gross generalisation obvs) in bookkeeping type roles enjoying a privileged position over the native people. Plus you have the caste system before they'd even started.

Not that any of that is any kind of excuse, but assuming oppression is perhaps a simplistic take.

Braverman has described herself as a "child of the British Empire". Her parents, who were from Mauritius and Kenya, came to the UK "with an admiration and gratitude for what Britain did for Mauritius and Kenya, and India". She believes that on the whole, "the British Empire was a force for good"