They’ve clearly started costing it up and realised there’s absolutely no way to make it work with all of the measures.
This is the easiest to walk back on and the most popular one I guess. Pussy move though.
Exactly.
Saying we have listened means nothing.
The fact they made the decision to cut taxes for the rich and up until yesterday, said they we’re determined to stick to it because it was best for the economy, proves they are out of touch.
This has weakened the positions of Truss and Kwarteng considerably and her admitting that they made these decisions, without the consent of the rest of the cabinet, has meant that at least one of them will have to go and I doubt it will be Truss.
It was bad enough with Boris who was a liar and a buffoon who looked like someone who had been dragged through a bush backwards but Truss acts like a sixth form student who’s been dragged in off the street to pretend to be the PM.
Clowns like Boris, Truss, Rees Mogg, Gove, Patel, Hancock, etc, have turned the Tories into a laughing stock.
I’m no economist, but it does seem smart to cost things up before you implement, rather than the other way around. 
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She said she is fine with being unpopular but now after collapsing under the pressure she is both unpopular and wrong, damage is done.
She isn’t fit to run the tills of the local corner shop let alone the country.
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Executive should never fold to backbenchers desperate to save their skin.
Stay the course and tough it out for no other practical reason other than sitting the tone
This party is not conservative at all, the fact that you can’t justify why you don’t want raise taxes on people that are already paying 45% of the income to tax and save them 45p, and cut government spending instead to your own members is ridiculous.
Plus why are the members following labours rhetoric and allowing them to set the narrative.
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Hence the reaction when Kwasi made his mini budget announcement.
Every man and his dog could see it wasn’t manageable.
FYI they hadn’t actually implemented anything (it was due into force next April I believe) but the premise stands given the huge announcement being essentially a commitment to the policy.
Don’t know why they’ve walked it back, it’s really not going to gain them the favour they think it will.
Simply going to have people going, look you idiots we told you so! Practically admitting the public could do a better job of running the country 
Kwasi might be out of a job before any of his budgetary measures kick in.
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What they would have done in the past is leak the plan to the press, gauge public opinion, and go from there.
Either he or Truss will have to go and, just like Boris used to do to save himself, Truss will have no problem throwing Kwasi under the nearest bus.
All this noise about the 45p is masking the billions being given to other people for due to energy bills.
God forbid you give people that’s already paying 60k in tax a little reprieve from more taxes 
That is not true - this is a political decision. The one part of the budget that was self-funding was the 45-40% tax cut.
It does make her seem weak though
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Dunno, I’d be interested to see the numbers when they do finally get released. Agree part of the reason is political pressure but it’s not going to save face like they want in this case imo. They’re also not getting re-elected no matter what, so why fold?
I think their spending plan was ludicrous and was interested to see how they will balance it. I expected one of the big measures to get slightly walked back but not fully, hence them picking this one - an all or nothing decision - is more bowing to the pressure, but I don’t see how it would have come at no cost.
Its was already costed no? Roughly 2bn loss to the treasury
I think that was just the estimated share of the overall tax cut pot rather than a proper cost-benefit analysis but may have missed something tbf.
The problem is the energy crisis needed an immediate solution. Now is that essentially of our own making? Yes. Is the solution the right one? Not for me.
However, I’m happy they’ve immediately tried to tackle the issue even if I don’t agree with the method and long term it’ll cost us anyway. I’m hoping, but not confident, that it’ll lead to a more serious review of the industry that makes an impact before the ‘‘freeze’’ ends.
I agree with your views on the tax rate but it’s much easier for people to be against something that seemingly benefits the few - rather than the one which, at least in the immediate term, benefits the masses.
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It would jus cost 2bn, however I think idea was it could be recouped from tax gained from people spending more.
No, it is not a simple calculation. Previously cutting top tier tax resulted in additional tax income, the same was expected again.
The fact is the top 1% are mobile and can redirect earnings to tax friendly countries, so the hope is to have them redirect more income to the UK than other countries by making it more attractive
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The energy problem is of the governments own making. For years they’ve made the energy market unstable with the policies the Ukraine war just tipped over the edge.
They need to radically change the policy on green green subsidies on the energy bills (scrapping it) and incentives the energy companies to do what they do best source my energy.
People talk about paying the fair share, none of them would want to be taxed nearly 50% of they income.
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