Boris Reshuffle

WolfeTone

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I haven't given this much attention today, but the resignation of Sajid Javid seems a bit malicious. Apparently put in an unacceptable position, he had no option but to resign.
Im not familiar with the new cabinet but with Brexit negotiations on-going, does anyone have the track on what is going on?
 

odyssey06

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The new guy is a total nobody... hedge fund millionaire. Only an mp since 2015. Either he is some sort of financial whizz kid or he has been put there as a stooge. Hmmm.
 

WolfeTone

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The new guy is a total nobody... hedge fund millionaire. Only an mp since 2015. Either he is some sort of financial whizz kid or he has been put there as a stooge. Hmmm.
Interesting reporting on Newsnight about independence of the Chancellor of the Exchequer, and interview with Norman Lamont.
Apparently Javid had a set of stringent rules promoting fiscal responsibility. But after today, No.10 has basically taken control of the Exchequer through its new (former Goldman Sachs) banker.

Why would Johnson, following exit from the EU with possibly no trade deal in place, want to force the resignation of his fiscally prudent Chancellor of the Exchequer?

According to former Chancellor Lamont, it is so he can cut taxes and increase spending in a fiscally 'irresponsible' way!
How else is he going to keep those new Northern English (traditionally) Labour voters on-side? Well, its obvious, what would Jeremy Corbyn do? o_O
As the Newsnight presenter herself asked "has Johnson found all the magic money trees?"
 
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fidelcastro

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I fear that ignorant liar Johnson will do.lasting damage to our country though trade, peace process. He doesn't care in the slightest
 

WhiteCoat

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I fully agree that Boris Johnson is nasty. I am, however, not overly sympathetic of Javid's plight. If you live by the sword, if you lie down with dogs, etc.

Why do I say this? Well, during one of the debates for the Tory leadership, Javid basically endorsed all the sheer nonsense emanating from Johnson, whilst aggressively attacking almost everything Rory Stewart had to say. IMO, Rory was the singular sane voice in that debate so forgive me if I don't fully buy the "Javid the immutable paragon of reasonableness" line that I've seen in some media reporting. What comes around, goes around.
 

galway_blow_in

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Interesting reporting on Newsnight about independence of the Chancellor of the Exchequer, and interview with Norman Lamont.
Apparently Javid had a set of stringent rules promoting fiscal responsibility. But after today, No.10 has basically taken control of the Exchequer through its new (former Goldman Sachs) banker.

Why would Johnson, following exit from the EU with possibly no trade deal in place, want to force the resignation of his fiscally prudent Chancellor of the Exchequer?

According to former Chancellor Lamont, it is so he can cut taxes and increase spending in a fiscally 'irresponsible' way!
How else is he going to keep those new Northern English (traditionally) Labour voters on-side? Well, its obvious, what would Jeremy Corbyn do? o_O
As the Newsnight presenter herself asked "has Johnson found all the magic money trees?"
Borris would be perfectly at home in SF

Tax cuts and huge spending increases
 

cremeegg

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Is he wrong?
Boris, to cut taxes and increase spending.

Yes he is. England has full employment, poor productivity, weak public finances, dreadful regional imbalances and taxes are on the low side.

An increase in public spending would likely reduce productivity, increase inflation, worsen public finances, and despite political wishes flow to London and worsen regional imbalances. (it may seem that inflation is currently low so an increase would not be significant, but because of poor productivity there is no reason to expect that earnings would grow to match inflation).

A marked deterioration in public finances could severely dent confidence in the pound. Unlike countries in the EU and the Euro, England has no safety net, if the pound tanked they would be very severely affected.

Nothing is more likely to hasten a run on the pound than the sight of a PM who doesn't seem to care and a Chancellor with no authority.
 

WolfeTone

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Some very valid points @cremeegg .

I will play devils advocate for the moment.

The UK, having left the EU, is facing into a period of uncertainty. Whether it strikes a deal with EU or not, the promises of Brexit, and Britain being an independent leader on the global stage need to be demonstrated. The population will need to feel a real tangible benefit, a Brexit 'bounce', for want of a better phrase - none more so than in Scotland, NI and Northern England.
Without it, the political divisions are likely to get more entrenched. Scotland more likely to move to independence.

So what better way than enduce a feel-good factor than putting money back into the pockets of the millions of people who are currently working to stand still?

Of course, it will all depend on how its managed. Building bridges between Scotland and NI sound like great big white elephants, and would support your analysis.
However, large injections of capital supporting British made goods and services through research and development, science and education, innovation and technologies, etc, will help propel this new independent economy, free of the shackles of EU restrictions.

Britain, and the Union Jack, despite the nefarious history that many are aware of, is a massive global brand.

Brexit has been heralded, by its proponents, as an opportunity for Britain to re-invent itself and re-establish itself as an independent global leader for trade.
It wont achieve this by simply running neutral budgets on a flat economy.
 
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WolfeTone

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It won’t achieve it be throwing good money after bad either.
Of course not, but then that all depends if the money is wasted, or managed efficiently.
Given the potential sums involved, invariably some money will be wasted and dominate media headlines.
Money that is utilized efficiently, it remains to be seen the outcomes.

How else can Boris deliver the vision of Brexit (or at least the perception of the vision of Brexit) ?
 
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