Higher mortgage rates are inevitable if you leave a fixed term. Many are in that position. You are aware that the whole world is in the middle of f***ed up city . Com atm. It’s not just little old UK. Some though reckon changing the PM will make it better.
Somehow I doubt it and as I read on here maybe it is time for labour to get the helm. The issue will be though that the account will be empty and taxing and borrowing will be the only way they can give tons away to many undeserving liars who will invariably vote them in again. I should be okay though so basically I don’t give a s***

I noticed on the TV that many of the members were nodding but they seemed to be nodding off to sleep

Yeah, but besides those 4 clangers, and todays second bail out by the bank of england- costing billions and billions- what has she actually done wrong in 6 weeks?

It hasnt cost anyone billions at all. The BOE has taken the bonds at a reduced interest rate so still make a profit. Let’s hope they cash them in before labour get into power. Then they will be total junk .

Are you seriously suggesting this is a good thing?

I am no expert on the gilts market but, if my understanding is correct, these are debts due to be repaid in 30 years or more, at interest rates above the market. Our children and grandchildren's future is being mortgaged because of a stupid government, who have also saddled us all with the need to pay interest.

It doesn't matter who is in power. They still need to be repaid.

The markets don't react for fun. They react when what is happening affects them. They obviously don't believe what this government is doing adds up. Most knowledgeable seem to agree.

You personally may not be affected as much as others. Nor will I. But we all are to some degree. That the world as a whole is also suffering doesn't excuse our government making things worse, rather than better.

For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

You need to ask a specialist economist for the detail.

Having a long term aim to lower taxation and increase economic activity is the desire of almost every government.

Doing it recklessly, without seemingly having either a clue how it will be paid for or caring too much, at a time when the country, and the whole world, is already struggling with the aftermaths of a pandemic and a war, and we have to cope with Brexit on top, is just irresponsible.

Truss managed to convince her "electorate" about her "plan". More fool them. No-one else was convinced and expected the usual, "now we have looked at the books" reigning back and postponements until "the time is right". No-one expected them just to go ahead at 100 mph into a cul de sac.

What was expected was a couple of morsels, to feed the prejudices of the Tories, but nothing on the scale that is proposed. It's unsustainable and will have to be reversed. Whether by this government, or a new one, remains to be seen.

The idea that in the current climate cutting taxes will stimulate growth is nuts. People need their tax cut, and more, just to stay where they were. Businesses won't invest in an unstable economy. Any money saved on corporation tax will likely flow overseas.

Trickle down economics is often seen by ambitious politicians as a way to stay popular. It has though been shown time and time again, not to work. It's a myth which has been firmly debunked.

What happens long term depends a lot on what happens short term. If we reverse this stupidity we can recover quite quickly. If we go on digging it will take a long time.

For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.