I think 1 of the times my partner mentioned was under Callahan? I think I was just about old enough to be aware. Given our age gap he could have been thinking of a time earlier.
The problem is that Labour always seems to make big promises but not to have done their sums. However I have to say what we’ve seen from Truss and the idiot or corrupt Kami Kwazi has exceeded anything I’ve ever seen Labour say, in stupidity and that’s quite sonething.
The BOE had to prop up the govt bond market to the tune of £65m. Who do you think will be paying for that. And that is only until mid October. If this fiasco isn’t sorted by then, the market could continue to fall and with it the value of pension investments will fall without further BOE intervention paid by tax payers
We are well aware of that Carl but there’a more to it and some pension funds will indeed profit.
I am actually more concerned about implications for exchange rates, and ideally, avoiding a run on the £. That would really, really hurt anyone with expenses to pay in other currencies who doesn’t have a matching income source feeding in in those currencies. In other words, a lot of people in France with UK pensions private or otherwise.
Yes - Jim Callaghan was the PM in 1976 - just, after Wilson suddenly had to resign (he cited total exhaustion - but in fact was aware of early-onset Alzheimer’s).
What you say about Labour ‘seeming’ not do their sums is so interesting to me as a keen student of economic history. In fact both in terms of costing its programme - and having those costings independently verified - and in terms of actual economic performance, measured objectively, Labour does far better than the Tories.
So what’s interesting is: how this reality ‘seems’ to turn into precisely its opposite ? How does the evidently more economically competent party come to be seen by many, perhaps the majority, as less competent ?
And is there a warning here for us not to be too quick to assume the Truss government’s currently obvious incompetence (or corruption) will still be as obvious to many come the next election ?
Exactly, Geoff. I pretty much agree with you on all counts.
and a view by Professor Tim Wilson about KamiKwazi
Billion not million 
Yes Billion
Minor details….
I agree that Kuenssberg is just a Tory fangirl.
Sadly Peston and Andrew Marr are no better.
Emily Maitlis, Cathy Newman and Krishnan Guru-Murthy are, by far, my favourite interviewers.
More lies 
I think she’s doooomed, doooomed. She can’t even understand how fast digging that hole.
I agree entirely. Peston is a particularly smug ass. His book, which I made the mistake of reading some years ago, was pretty well rubbish too.
A great piece by John Crace in today’s Guardian including this memorable line: “Upbeat yet catatonic, the prime minister gives party members the impression she positively enjoys being unpopular”
Read it here:
The worm turns…
The Lady’s not for turning has turned and KamiKwazi will not now pursue the cut to the top rate of tax in order to stall a revolt by backbench Tories again the measure when it comes to the House.
It was looking likely that the measures would have been voted down - which may have been the end for both of them.
Truss distanced herself from the mini-budget yesterday.
Doing a U-turn because “It’s become a distraction”…?
She’s still lost her credibility though (if she had any in the first place).
Sounds like he’s got his head screwed on right. How true is what he says, I don’t know, but suspect he’s spot on…!
