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UK Politics

norky84 said:
She's absolutely useless. I've seen a tweet from Peston who spoke to a Cabinet member. They said some Tory MPs have said they would vote against her in a no confidence vote.

They would rather a general election and risk losing their seats than the current economic crisis Truss is making a lot worse.
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Genuine talk now of the Tories willingly losing to Labour so Labour have to deal with the shitshow.
 
Dirty Harry said:
Genuine talk now of the Tories willingly losing to Labour so Labour have to deal with the shitshow.
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I said to my missus a couple of months ago that I wouldn't be surprised if this was some weird Tory tactic to run everything into the ground, let Labour get elected at the next election... Labour unable to fix the mess in 5 years, Tories blame Labour for everything and get re-elected for another 15 years. God help us.
 
Regardless said:
Eh? What's wrong with that 18 second clip?

People who have been through due process, and found to have no right to stay, need to be deported.
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The 2014 Immigration Act was part of the Hostile Enviroment, it's massively problematic and led to Windrush. Labour shouldn't be critiquing the Tories for not implementing it well enough they should be calling for it ripping up and replacing with a better, fairer system, it's also worth noting Reeves herself didn't oppose it in 2014.
My problem is Labour letting the Tories choose the battle parameters, they are 30 points ahead in the polls, they should be better.
 
Sepp Blatter said:
Like many other MPs complaining, she supported lockdown. What on earth did she think would happen to the economy? Finding it hard to take any of them seriously :(
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pretty much like those who didnt think the economy would be affected by Brexit, in truth. The perfect storm.
 
raefil said:
Its now looking like the Bank of england are in open warfare with the govt. I cant see this ending well for the people of this country. Bailey is as much a right wing prick as Truss and Kwarteng are.

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The pension fiasco having to be sorted by Friday relates only to Final Salary schemes of course.

Vast majority of workers are in defined contribution schemes and the majority of those will be utilising a “Lifestyle” profile whereby as the worker reaches their 50’s and 60’s their pension pot is automatically switched from equities into “less risky” investments by their pension provider like Gilts and Bonds!! Some of these may lost up to 30% of their pension fund.

And of course these types of scheme don’t have an employer standing behind them to sponsor and make up any shortfall

We’re Doomed!!!
 
bigtallsi said:
The pension fiasco having to be sorted by Friday relates only to Final Salary schemes of course.

Vast majority of workers are in defined contribution schemes and the majority of those will be utilising a “Lifestyle” profile whereby as the worker reaches their 50’s and 60’s their pension pot is automatically switched from equities into “less risky” investments by their pension provider like Gilts and Bonds!! Some of these may lost up to 30% of their pension fund.

And of course these types of scheme don’t have an employer standing behind them to sponsor and make up any shortfall

We’re Doomed!!!
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To lose 30% of what youve worked hard and saved for is awful beyond belief.

The frightening thing, also, is that there are now more and more who will be reliant to live on state and pension credits moving forward.
 
raefil said:
To lose 30% of what youve worked hard and saved for is awful beyond belief.

The frightening thing, also, is that there are now more and more who will be reliant to live on state and pension credits moving forward.
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Automatic Enrolment was introduced to reduce those reliant on the State which is quite ironic really. Ride it out seems to be the current thinking, which is OK if you’re in your 30’s for example but if you’ve packed up work then you might be scanning situations vacant
 
bigtallsi said:
Automatic Enrolment was introduced to reduce those reliant on the State which is quite ironic really. Ride it out seems to be the current thinking, which is OK if you’re in your 30’s for example but if you’ve packed up work then you might be scanning situations vacant
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As it stands, im fine, but I must admit an offer ive had from my former employer is starting to look tempting.
 
bigtallsi said:
The pension fiasco having to be sorted by Friday relates only to Final Salary schemes of course.

Vast majority of workers are in defined contribution schemes and the majority of those will be utilising a “Lifestyle” profile whereby as the worker reaches their 50’s and 60’s their pension pot is automatically switched from equities into “less risky” investments by their pension provider like Gilts and Bonds!! Some of these may lost up to 30% of their pension fund.

And of course these types of scheme don’t have an employer standing behind them to sponsor and make up any shortfall

We’re Doomed!!!
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The scheme of my ex-employer(that is pretty much the biggest Global Bank) has a default strategy that moves people into "safe" Liquidity/Pre-Retirement/Gilt funds in the 5-6 years pre their chosen retirement age. Those Pre-retirement funds are down 37% for the past year, or 48% for the portion it put in Index linked Gilts. Something like 90% of people stick with default strategies that schemes are duty bound to provide.

Basically they've managed to destroy an entire economic model built up over decades of research and market watching that seemingly had worked for years across multiple schemes. Quite an impressive feat.

Though completely destroying for all those affected by it who yet again don't have any form of protection like the PPF or The Government backstopping their ruined retirements.

Again I'll bang the drum again, we need some form of collective schemes available that spread the risk and reward so that all workers can access them to the extent they are happy contributing to, generating them some security in retirement. If they want rid of the state pension eventually they need an alternative option that they can point to and show that people can still survive on their "savings" in retirement. People might not treat the whole savings/pensions with the contempt it still does in many cases due to the continued rotten stewardship that seems to have continued since the 80s now
 
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