@Jez To be fair, we have no idea if there was a Covid wave over the summer as testing was all stopped. There could have been millions of new cases, but generally came to nothing due to immunity levels/ less severe symptoms. And your arguing that Covid wasn't a risk to health is the main reason a lot of us stopped engaging with you.

Anyway, back on topic ...

The FT is rated as centrist >

... and rated "unbiased" and "highly factual" >

But still, Martin Wolf’s FT article (20 Sept) criticises Liz Truss's economics > 

The economic consequences of Liz Truss
It is surely a fantasy that further tax cuts and deregulation will transform performance

Because as overall tax rates in a country rise, so does GDP per capita >

As tax paid (as a proportion of GDP) rises, so too does income (exc: oil countries).

High-tax is good for the people overall, ie: the whole basis on which Truss is building her economic strategy is wrong.

Cognitive bias can push people into more extreme ideological positions

We seek out information that supports our pre-existing views, and we avoid information that might contradict them.

This is particularly true for politicised issues, eg: people forgo cash to avoid reading opposing views on topics like same-sex marriage and gun control.

This “selective exposure bias” pushes us into more polarised positions - when we ignore evidence that contradicts our beliefs, we feel more strongly that our own view is correct.

Good grief, it's even worse than I'd feared !

Huge unfunded tax cuts for the wealthy (including Kwasi Kwarteng himself on £155k) - the govt is to borrow vast amounts of money to give tax cuts to Corporations and the already well off, and then everyone will pay for that over the next XX years.

Muted response to Kwarteng statement from Tory backbenches. Only the odd half-hearted cheer. Lots of glum faces. One Tory MP told me this morning: “I have never known the party so divided so soon after a leadership election”.

Markets down, pound down against the dollar (37yr low) and the Euro, bonds/gilts up (making borrowing more expensive), 

Anyone earn £1m? You're getting a £55k tax cut next year - twice what a typical earner brings home a year.

Dominic Cummings on Liz Truss: ‘About as close to properly crackers as anybody I’ve met in Parliament’

Follow people who understand economics and the Treasury - insightful, knowledgeable and reliable:

Not exactly current news, but a newly aired documentary is doing the rounds about Corbyn's time as leader - not watched it yet (1h13m) >

An investigation based on the largest leak of documents in British political history. The Labour Files examines thousands of internal documents, emails and social media messages to reveal how senior Labour Party officials ran a coup by stealth against the elected leader of the party.

The program shows how officials set about silencing, excluding and expelling its own members in a ruthless campaign to destroy the chances of Jeremy Corbyn becoming Britain’s prime minister. Candidates for key political roles were blocked and constituency groups suspended as the party’s central office sought to control the elected leadership.

That documentary should make an interesting watch. My understanding at the time was that Labour was removing more centric candidates and replacing them with more left-leaning ones.

And yes, the special fiscal event is scary. Blatantly favouring the well-off who needed no help at all, and adding billions to the national debt. Even Biden was against the idea of trickle-down economics as recently as yesterday. Of course the Gov did roll someone out yesterday to say it wasn't trickle-down as they were limiting fuel bills for all - then the next day they give huge benefits to the richest. This shower need to go ASAP. God help me that I used to vote Tory.

Julian Jessop @julianHjessop - Independent economist (bio on website). Likes data and charts. IEA Economics Fellow. Schools speaker. FRSA. Brexit optimist. Market monetarist. Own views, etc.

HOW IT STARTED

HOW IT'S GOING

SO, if I'm reading this right, you support the idea of giving a tax break to the richest people in the country at a time inflation is running rampant and lots of people being pushed into fuel poverty, even with the fuel caps?

You're defending it. Why would you do that if you don't agree with it?

Sorry, I'd assumed that you were pointing out that the richer paid more taxes that you were advocating the tax cut. I hadn't realised that you really didn't have a basic grasp of the tax system.