@TorstenBell Torsten Bell
Torsten Bell posts on X about investment, inflation, rates, insurance the most. They currently have [---------] followers and [---] posts still getting attention that total [------] engagements in the last [--] hours.
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Social Influence
Social category influence finance countries travel destinations celebrities technology brands social networks stocks automotive brands fashion brands
Social topic influence investment, inflation, rates, insurance, money, debt, gdp, has been, london, if you
Top assets mentioned April (APRIL)
Top Social Posts
Top posts by engagements in the last [--] hours
"Heres a short story about who wins and loses from the status quo of our inheritance tax rules - and about what you might politely call sub-optimal journalism🧵"
X Link 2024-11-25T16:55Z 86.9K followers, 1.5M engagements
"We need bigger better pension funds delivering better returns to savers and stronger growth for Britain. A key plank of our pension reform agenda is accelerating the consolidation of pension schemes into 25bn+ mega funds https://www.bbc.co.uk/news/articles/cjrn0rz2dpgo https://www.bbc.co.uk/news/articles/cjrn0rz2dpgo"
X Link 2025-05-29T06:32Z 86.9K followers, 128.2K engagements
"Probably not going to take lectures on fiscal responsibility from: - team Liz Truss - a fiscal fantasist party claiming to support our extra investment in public services but opposing every tax change that funds it No you are massively adding to the national debt our children will have to pay and ensuring that taxes will rise and growth will fall. No you are massively adding to the national debt our children will have to pay and ensuring that taxes will rise and growth will fall"
X Link 2025-06-08T21:19Z 86.9K followers, 87K engagements
"First time representing the Government at Treasury Questions yesterday. Looking forward to helping the Tories understand that unless we deliver secure home-grown renewable energy through cheap renewable generation there is no energy security ahead"
X Link 2025-01-22T11:31Z 86.9K followers, 610.7K engagements
"This is absolutely staggering: wages are now set to remain below their [----] level until [----]. That's a totally unprecedented TWO lost decades of pay growth"
X Link 2023-11-23T12:27Z 86.9K followers, 617.8K engagements
"Disgusting remarks and thats before you note this is someone who moved to (colonised as he would put it) a tax haven https://news.sky.com/story/the-uk-has-been-colonised-by-immigrants-says-ineos-boss-and-man-utd-co-owner-sir-jim-ratcliffe-13506333 https://news.sky.com/story/the-uk-has-been-colonised-by-immigrants-says-ineos-boss-and-man-utd-co-owner-sir-jim-ratcliffe-13506333"
X Link 2026-02-11T21:07Z 86.9K followers, 491.4K engagements
"For the millionth time - entrepreneurs relief does nothing for most entrepreneurs and LOADS for others without an ounce of entrepreneurship"
X Link 2020-03-01T16:24Z 86.9K followers, [---] engagements
"There is a lot of point. Were going to build council homes housing association properties and homes for sale. Because we need all of the above. Lazy anti-construction on bogus distributional grounds has been a catastrophe for poorer households @TorstenBell No point building homes if they are not ring fenced for people who need them. Building Council housing @insidehousing @TorstenBell No point building homes if they are not ring fenced for people who need them. Building Council housing @insidehousing"
X Link 2024-12-12T10:40Z 86.9K followers, 35.4K engagements
"Build homes. Mend potholes. Restore trust. https://www.theguardian.com/commentisfree/2024/dec/15/how-do-we-bring-joy-this-christmas-build-homes-mend-potholes-restore-trust https://www.theguardian.com/commentisfree/2024/dec/15/how-do-we-bring-joy-this-christmas-build-homes-mend-potholes-restore-trust"
X Link 2024-12-15T08:03Z 86.9K followers, 230.5K engagements
"If we want to grow we have to build. And with this government the builders are in and the blockers are out. Heres just one example: after 30yrs of failing to build a single reservoir @RachelReevesMP has today confirmed approval for 7.9bn investment into [--] new reservoirs Reservoirs. We gave up building them in the early 1990s. Great to hear @Keir_Starmer raise on of my favourite symbols of Britain's low investment disease - here's the relevant section of Great Britain https://t.co/61b9z3m4Th https://t.co/m7O4XaR5gN Reservoirs. We gave up building them in the early 1990s. Great to hear"
X Link 2025-01-29T13:15Z 86.9K followers, 39.6K engagements
"📈 Tomorrow pensioners will see up to [---] more a year in their State Pension. 🔒 We're spending an extra 31bn every year to protect the Triple Lock throughout this parliament. 🩺 And - with 600m more going into the Welsh NHS - we're cutting waiting lists to fix the NHS"
X Link 2025-04-06T08:02Z 86.9K followers, 1.2M engagements
"Clubs fans and communities need answers - and a fair way forward - after the Welsh Rugby Union's statement 👇"
X Link 2025-05-20T13:54Z 86.9K followers, 43.1K engagements
"My update from Port Talbot after Nigel Farage set out plans that would scrap thousands of jobs here 👇"
X Link 2025-07-25T17:53Z 86.9K followers, [----] engagements
"The economy is growing after a decade and a half of stagnation. This matters - its growth in GDP/capita that raises wages and living standards. There is much much more to do to get bills down pay up and to invest in this countrys future once again but progress is underway GDP grew 0.3% in Quarter [--] (April to June) [----]. Services (+0.4%) and construction (+1.2%) both grew but production (-0.3%) fell. Read more ➡ https://t.co/Retnw5VOYU https://t.co/iCmUHU9Ynr GDP grew 0.3% in Quarter [--] (April to June) [----]. Services (+0.4%) and construction (+1.2%) both grew but production (-0.3%) fell. Read"
X Link 2025-08-14T06:49Z 86.9K followers, 278.9K engagements
"Pensions: - there to ensure more people have a secure retirement - not there to support tax planning 'Youre coming for my pension.' 'I think youre talking nonsense.' Labour's Torsten Bell tries to put @TomSwarbrick1's claim to bed. https://t.co/7wShdahiZB 'Youre coming for my pension.' 'I think youre talking nonsense.' Labour's Torsten Bell tries to put @TomSwarbrick1's claim to bed. https://t.co/7wShdahiZB"
X Link 2025-08-19T15:41Z 86.9K followers, 134.8K engagements
"Total garbage. Thousands turned out - which is far more than Id like but dwarfed by the millions that understand real patriotism means loving your country as it actually is not hating its diversity or trying to exploit its challenges. Thats what our flags actually represent 🚨BREAKING: POLICE ANNOUNCE AN ESTIMATED THREE MILLION PEOPLE IN LONDON FOR UNITE THE KINGDOM MARCH Nobody can stop what's happening❤ We're taking our country back 🔥 🏴🏴🏴 🚨BREAKING: POLICE ANNOUNCE AN ESTIMATED THREE MILLION PEOPLE IN LONDON FOR UNITE THE KINGDOM MARCH Nobody can stop what's happening❤ We're taking our"
X Link 2025-09-13T14:56Z 86.9K followers, 400.9K engagements
"You couldnt make it up the Tories claim to be for fiscal responsibility while wracking up 7bn/yr of promises in just a few hours: - 4bn cutting business rates - 3bn on 5k for house deposits The Conservatives will do what other parties refuse to do: stand up for fiscal responsibility. We will take the difficult decisions needed to get the public finances back in order👇 The Conservatives will do what other parties refuse to do: stand up for fiscal responsibility. We will take the difficult decisions needed to get the public finances back in order👇"
X Link 2025-10-06T13:35Z 86.9K followers, 41.5K engagements
"The two-child cap pushed half of children in larger families into poverty. Today Labour abolishes it. I stood for office to stop drawing charts and start changing them. This change will see the biggest drop in child poverty of any parliament on record. Know what that is Hope"
X Link 2025-11-26T14:13Z 86.9K followers, 105.2K engagements
"Labour's Budget is for every street in Britain. 👉 Cutting energy bills 👉 Lifting children out of poverty 👉 Rebuilding public services While our opponents hide behind cheap divisive politics we're getting on with the job: changing Britain"
X Link 2025-11-28T10:56Z 86.9K followers, 114.1K engagements
"Reform: the home for failed Tories. In this case failed in the sense of failed to pay HMRC loads of tax he owed Former chancellor Nadhim Zahawi defects to Reform UK https://t.co/wv2GI6dfhm Former chancellor Nadhim Zahawi defects to Reform UK https://t.co/wv2GI6dfhm"
X Link 2026-01-12T12:51Z 86.9K followers, 115K engagements
"Remember this guy didnt just fail to pay the tax he owed. He then used legal threats to try and stop people setting out the truth of what happened Reform: the home for failed Tories. In this case failed in the sense of failed to pay HMRC loads of tax he owed Reform: the home for failed Tories. In this case failed in the sense of failed to pay HMRC loads of tax he owed"
X Link 2026-01-12T13:07Z 86.9K followers, 82.5K engagements
"Huge news for South West Wales. The first Celtic Sea floating offshore wind project (Erebus) has been confirmed as part of a record breaking auction for wind power. This matters for jobs from Port Talbot right across to Pembrokeshire. https://www.gov.uk/government/news/record-breaking-auction-for-offshore-wind-secured-to-take-back-control-of-britains-energy https://www.gov.uk/government/news/record-breaking-auction-for-offshore-wind-secured-to-take-back-control-of-britains-energy"
X Link 2026-01-14T09:58Z 86.9K followers, 439.7K engagements
"1/3 Its now clear that the WRU are trying to use Cardiff going bust to try to force the Ospreys out of professional rugby"
X Link 2026-01-23T10:35Z 86.9K followers, 65.9K engagements
"3/3 Demand for an EGM is building as people see the chaos being driven by those who are meant to be stewarding our national game. Its hard to see a way forward now that doesnt involve a change in leadership at the WRU"
X Link 2026-01-23T10:35Z 86.9K followers, 19.5K engagements
"Man of the people latest. All of Farages history shows that far from taking on the globalists hes a grifter who milks unsavoury parts of the global elite for all he can get Nigel Farage attended Davos on a pass sponsored by the family office of Iranian billionaire Sasan Ghandehari which told the World Economic Forum that the Reform UK leader had advised the company since [----]. https://t.co/CEFDP9Ovv5 https://t.co/VpGKxOQogg Nigel Farage attended Davos on a pass sponsored by the family office of Iranian billionaire Sasan Ghandehari which told the World Economic Forum that the Reform UK leader"
X Link 2026-01-24T09:28Z 86.9K followers, 170.1K engagements
"A lot of total nonsense being talked on graduates today. Heres the facts: 1) there was a rise in graduate inactivity UNDER the Tories 2) graduate inactivity has FALLEN under this government 3) The result is the graduate inactivity rate is currently the LOWEST on record 💷700000 jobless graduates now claim benefits 🏥240000 are out of work because of a health condition The problem is threefold 1/5 💷700000 jobless graduates now claim benefits 🏥240000 are out of work because of a health condition The problem is threefold 1/5"
X Link 2026-01-26T14:04Z 86.9K followers, 70.3K engagements
"Ludicrous headline. Another totally failed Tory MP defection shows Reform are an outfit designed to do nothing other than rerun the Johnson/Truss chaos Another big beast defection shows momentum is with Reform https://t.co/FNh4hf2X1i Another big beast defection shows momentum is with Reform https://t.co/FNh4hf2X1i"
X Link 2026-01-26T14:16Z 86.9K followers, 88.2K engagements
"Thousands in Swansea have been let down by an outdated leasehold system leaving too many facing rising costs and trapped in homes they can struggle to sell. In opposition Labour promised to end this feudal system of exploitation. In Govt we are making good on that promise"
X Link 2026-01-27T13:36Z 86.9K followers, [----] engagements
"What will change 🏠 Ground rents are being capped at [---] saving leaseholders hundreds each year ❌ New leasehold flats are being banned ✅ Current leaseholders will get the right to switch to commonhold 🧾Well make service charges more transparent"
X Link 2026-01-27T13:36Z 86.9K followers, [----] engagements
"Politics matters and so does whose side you're on. Promise made to leaseholders promise delivered for leaseholders"
X Link 2026-01-27T13:36Z 86.9K followers, [----] engagements
"Swansea has 20m Pride in Place funding from the UK Labour Gov't to boost the renewal of our city. My view on where that money is best spent 👇 https://swanseabaynews.com/opinion-torsten-bell-mp-how-swansea-should-spend-its-pride-in-place-funding/ https://swanseabaynews.com/opinion-torsten-bell-mp-how-swansea-should-spend-its-pride-in-place-funding/"
X Link 2026-01-28T09:46Z 86.9K followers, [----] engagements
"Great turnout tonight by OSC for Swansea Council monthly meeting where an Emergency Motion was overwhelmingly passed to continue the fight to keep Wales most successful region and men's professional rugby in Swansea. #OurbloodisBlack"
X Link 2026-01-29T20:34Z 86.9K followers, 11.7K engagements
"Almost rain free in Manselton today. Lots of issues raised most commonly POTHOLES. Our 120bn increase in public investment is about many things but high up the list is filling those holes in. Because people arent going to have faith in a system that cant do the basics"
X Link 2026-01-31T13:01Z 86.9K followers, [----] engagements
"@Chris_P_Burke Councils had their capital budgets cut through Tory austerity years. The results were entirely predictable and absolutely driven by national level decision making"
X Link 2026-01-31T15:05Z 86.9K followers, [--] engagements
"This is very telling. There is almost no scrutiny of Green policy positions. As soon as there is even with this very gentle probing you get a mess - roaming from reform NATO from within to abolish it in a few seconds Can Nato actually be reformed from within Green Party leader Zack Polanski discusses his proposal with Ciaran Jenkins. https://t.co/bif79GAmMd Can Nato actually be reformed from within Green Party leader Zack Polanski discusses his proposal with Ciaran Jenkins. https://t.co/bif79GAmMd"
X Link 2026-02-01T18:58Z 86.9K followers, 192.5K engagements
"Couldnt make this up. Farage: - WAS calling for the two child limit to be scrapped. - NOW calling for the two child limit to be reinstated Reform arent just importing failed Tory politicians. Theyre importing failed Tory policies. https://www.politicshome.com/news/article/nigel-farage-calls-lifting-two-child-benefit-cap https://www.politicshome.com/news/article/nigel-farage-calls-lifting-two-child-benefit-cap"
X Link 2026-02-03T12:11Z 86.9K followers, 77.5K engagements
"Chaotic carnival of chancers latest: - Jenrick and Braverman vote FOR the abolition of the two child limit while the other four Reform MPs vote against - and of course Farage doesnt even bother turning up to do his job Couldnt make this up. Farage: - WAS calling for the two child limit to be scrapped. - NOW calling for the two child limit to be reinstated Reform arent just importing failed Tory politicians. Theyre importing failed Tory policies. https://t.co/7VhpyGGj1S Couldnt make this up. Farage: - WAS calling for the two child limit to be scrapped. - NOW calling for the two child limit to"
X Link 2026-02-03T21:35Z 86.9K followers, 56K engagements
"At a time when politics feels divisive it's important to hold onto what really matters. 👉 Half a million kids out of poverty 👉 Ground rent capped at [---] 👉 Sick pay for low earners 👉 Zero hour contracts banned Real answers. Real change"
X Link 2026-02-04T16:27Z 86.9K followers, 221.9K engagements
"Totally shocked that Reforms new leader in Wales is a Tory. No-one saw that coming"
X Link 2026-02-05T10:52Z 86.9K followers, 53.3K engagements
"This is a party just importing failed Tory politicians and failed Tory policies"
X Link 2026-02-05T10:52Z 86.9K followers, [----] engagements
"This vital investment in our city from the UK Labour Government will make a real difference. https://swanseabaynews.com/swansea-neighbourhood-handed-20m-boost-as-mp-urges-residents-to-shape-decade-of-investment/ https://swanseabaynews.com/swansea-neighbourhood-handed-20m-boost-as-mp-urges-residents-to-shape-decade-of-investment/"
X Link 2026-02-06T09:55Z 86.9K followers, [----] engagements
"Swansea is making real progress with landmarks renewed and new buildings open from the Albert Hall to the new Y Storfa. 20m into neighbourhoods north of the train station would make sure an area that 000s travel through but is too often forgotten is part of this progress"
X Link 2026-02-06T09:55Z 86.9K followers, [----] engagements
"This Saturday I'll be at a community hub in Morriston - with plenty of tea and biscuits. Tea With Torsten is a chance for us to have a chat and talk about what Ive been doing as your MP. Email torsten.bell.mp@parliament.uk to register. The location will be shared with RSVPs"
X Link 2026-02-11T13:52Z 86.9K followers, [----] engagements
"Here's the key chart on how big Brexit's impact is on borrowing. OBR say it drives over 80% of extra borrowing from forecast changes by 2020"
X Link 2016-11-23T14:02Z 86.9K followers, [---] engagements
"The relief was originally meant to cost just 200m a year (history lesson: labour introduced this relief to diffuse a political row in 2008) but has ballooned since then - it now costs 2.7bn a year and yet no-one talks about whether it's a good idea or not. bonkers"
X Link 2018-08-29T07:57Z 91.7K followers, [--] engagements
"The UK spends more on Entrepeneurs' Relief (2.7bn) than it does on our security services (2.6bn) or on Winter Fuel Payments. Did I mention it's bonkers we never talk about it"
X Link 2018-08-29T07:59Z 91.7K followers, [--] engagements
"@EdConwaySky Agree @Summers_AD work is great to get an even better understanding of top incomes but even if we just account for what we do know about top incomes we already know inequality hasn't been falling ever since the 80s. flat at best rising slightly on measures including the top"
X Link 2019-11-15T15:22Z 87.3K followers, [--] engagements
"Looking foolish 😧 Off to the MMT re-education camp must I go Taxes do not fund public expenditure. Taxes have other purposes. Time that @TorstenBell understood MMT before @resfoundation look foolish when paradigm shift occurs. V soon if Bernie elected. Taxes do not fund public expenditure. Taxes have other purposes. Time that @TorstenBell understood MMT before @resfoundation look foolish when paradigm shift occurs. V soon if Bernie elected"
X Link 2020-03-01T10:29Z 87.3K followers, [--] engagements
"ahhh. Not every data point has to reinforce the one thing you want to talk about"
X Link 2020-03-05T11:17Z 87.3K followers, [--] engagements
"Or you could ask a less impossible one. There's still time to ask @TorstenBell a question about what's going to happen when this crisis is all over Send it in via DM and join us in [--] minutes here or on YouTube https://t.co/3IpTIfsLYt #CoronaNomics https://t.co/US8CLTtQw5 There's still time to ask @TorstenBell a question about what's going to happen when this crisis is all over Send it in via DM and join us in [--] minutes here or on YouTube https://t.co/3IpTIfsLYt #CoronaNomics https://t.co/US8CLTtQw5"
X Link 2020-05-21T18:28Z 87.3K followers, [--] engagements
"Slightly regretting our @resfoundation pricing strategy. [--] for policy advice Exclusive: UK govt is paying management consultants the equivalent of million and a half pound salaries to work on Test & Trace. Ive seen documents showing senior staff from Boston Consulting Group are being paid day rates of around 7k equivalent to 1.5m on an annual basis. Exclusive: UK govt is paying management consultants the equivalent of million and a half pound salaries to work on Test & Trace. Ive seen documents showing senior staff from Boston Consulting Group are being paid day rates of around 7k equivalent"
X Link 2020-10-14T16:56Z 87.4K followers, [---] engagements
"I know everyone keeps saying the current housing mini-boom is about the stamp duty holiday - but are we sure its not about cash sloshing around from government grants/loans Lack of targeting plus sheer scale means weve got some who were overnight very very cash rich"
X Link 2020-10-25T12:49Z 87.4K followers, [---] engagements
"People that know a lot more than me about defence will need to tell us the pros and cons of this approach and what it means for the future of our military"
X Link 2020-11-26T13:13Z 87.4K followers, [--] engagements
"So who knows what to do about this torture"
X Link 2021-04-09T12:27Z 87.3K followers, [--] engagements
"North Welsh Saturday"
X Link 2022-04-09T15:31Z 87.3K followers, [--] engagements
"Government providing no estimates of those costs is less reasonable. Our best estimate is that the price guarantee for households could cost around 120bn over the next two year - it's huge but also hugely uncertain"
X Link 2022-09-13T10:04Z 91.8K followers, [--] engagements
"Great thread on the UKs toxic combination of low growth and high inequality - its a disaster for middle and low income Britain NEW: income inequality in US & UK is so wide that while the richest are very well off the poorest have a worse standard of living than the poorest in countries like Slovenia https://t.co/gtHvhNsnuT Essentially US & UK are poor societies with some very rich people. A thread: https://t.co/fXFsULsrQ3 NEW: income inequality in US & UK is so wide that while the richest are very well off the poorest have a worse standard of living than the poorest in countries like Slovenia"
X Link 2022-09-17T07:39Z 89.7K followers, [----] engagements
"Theres nothing Northern European about the British middle class anymore - time we all woke up to that reality"
X Link 2022-09-17T07:39Z 89.7K followers, [---] engagements
"Important distinctions here between defined benefit pension schemes (which are driving today's market madness) and defined contribution schemes (where my advice is to protect your blood pressure by not looking at what is happening to the value of your pension pots)"
X Link 2022-09-28T12:15Z 91.9K followers, [--] engagements
"This is really not right. The VAST majority of spending cuts required to have debt on a falling trajectory are the result of huge tax cuts being announced either: - directly (ie they cost 43bn) - indirectly (ie they scared markets who are charging us more to borrow) The reality is that whoever is in No.10 - Truss her replacement from the Tory benches Starmer - is going to have to find significant public spending cuts. And politicians on all sides are going to have to start to acknowledge that. The reality is that whoever is in No.10 - Truss her replacement from the Tory benches Starmer - is"
X Link 2022-10-11T12:30Z 91.9K followers, [----] engagements
"I think shes saying we had to have the last month of chaos because Leeds was rubbish in the 80s - but I may have missed something"
X Link 2022-10-14T13:35Z 87.4K followers, [----] engagements
"2. If you sell/give away an asset the day before you die you pay CGT. But if you hold it until for another day there is zero CGT - which 1) is a weird incentive to hold onto things 2) makes no sense 3) lowers tax revenues by around 2bn"
X Link 2022-11-04T10:14Z 87K followers, [--] engagements
"Spoke. Too. Soon"
X Link 2022-11-23T19:46Z 87.4K followers, [--] engagements
"ISAs arent the only savings policy focused on the top - just the biggest as a new @resfoundation @finan_fairness report from @mollybroome_ @jackhleslie @adamcorlett shows. Plus proposals for what might actually boost savings where they're needed. Read it https://www.resolutionfoundation.org/publications/isa-isa-baby/ https://www.resolutionfoundation.org/publications/isa-isa-baby/"
X Link 2023-01-16T12:29Z 87.9K followers, 16.8K engagements
"What does this mean Half way houses (even the customs union) just don't cut the mustard in making sure such firms can be a big part of those supply chains - you have to get much closer to no border"
X Link 2023-06-15T08:53Z 83.2K followers, [----] engagements
"If politicians don't want this structural shift away from productive manufacturing the answer (even if no-one except for @theresa_may wants to hear it) is a version of the Northern Ireland Protocol for the whole UK ie effectively in customs union and single market FOR GOODS"
X Link 2023-06-15T08:53Z 83.2K followers, 25.1K engagements
"This chart is crucial to understanding why trade barriers between UK/EU are a bigger problem for UK than EU manufacturing firms despite the EU having a large goods trade surplus with the UK. Market size REALLY matters people"
X Link 2023-06-15T11:30Z 91.7K followers, 12.3K engagements
"Keep seeing even well informed commentators saying rising rates/mortgage costs for buy-to-let landlords is driving rents up. This is (almost entirely) nonsense"
X Link 2023-06-21T09:00Z 92.6K followers, 267.3K engagements
"Big picture: - labour market is definitely loosening - unless you believe the UK has uniquely changed how its labour market works this will feed through into weaker wage growth - but it'll take time (which the @bankofengland doesnt feel like it's got)"
X Link 2023-07-11T09:03Z 83.3K followers, 16.8K engagements
"I understand why markets expect UK interest rates to go higher (labour market loosening but wage growth hasnt started slowing)"
X Link 2023-07-11T13:20Z 83.2K followers, 48.6K engagements
".but not why they expect them to stay so high. Speed of labour market loosening is accelerating (unemployment rises and vacancy falls) so why markets are so confident we'll want higher rates than we have today in 2yrs time is beyond me"
X Link 2023-07-11T11:47Z 83.2K followers, 48.9K engagements
"More generally anyone being really confident right now is beyond me. but my central scenario would now be a surge in rates and then more significant cuts than are priced in"
X Link 2023-07-11T10:43Z 79.1K followers, 10.3K engagements
"For rates to need to be higher in [--] years than today you've got to believe: - a looser labour market/weaker economy just won't do what it normally does and kill wage/profit growth - all the past [--] years claims about about equilibrium interest rates being uber-low was VERY wrong"
X Link 2023-07-11T10:49Z 83.3K followers, 10K engagements
"The wage growth is in the private sector"
X Link 2023-07-11T16:33Z 91.9K followers, 206K engagements
"Quicker we get on with admitting that hydrogen isn't some magic answer to heating all of Britain's homes the better. Only winners from the current pretence it might = lobbyists. Meanwhile it's contributing to the ludicrously slow heat pump roll-out"
X Link 2023-07-12T11:16Z 83.3K followers, 19.6K engagements
"2. There won't be a pre-election spending review/the next govt will own this problem. Having one would mean addressing the unfunded nature of these pay rises & fact that unprotected departments are currently set for a 10% cut in per person spending power between 2024-25 & 2027-28"
X Link 2023-07-13T13:52Z 83.2K followers, 42.5K engagements
"3. In that context we really aren't going to be spending 2.5% of GDP on defence - however much both parties say it's their goal. That would make the cuts for many departments in the next spending review even deeper/these pay rises even more unaffordable (or bigger tax rises)"
X Link 2023-07-13T13:52Z 83.2K followers, 36.3K engagements
"NEW: Rising interest rates have knocked [---] trillion off household wealth over the past year. The four decade mega-trend of growing household wealth (from 300% of national income in the 1980s to 840% in 2021) has now gone into reverse with the biggest falls since World War II"
X Link 2023-07-21T02:53Z 83.3K followers, 57.5K engagements
"Phew. For the first time in a while inflation surprises markets in the right way: CPI inflation falls from [---] to [---] per cent. Expect a correction ( ie calming down of recent market hysteria) to expectations that much higher interest rates in the UK will last forever"
X Link 2023-07-19T06:05Z 83.2K followers, [---] engagements
"Turns out having loads of index linked debt is bad during an inflation shock UK to run up highest debt interest bill in developed world https://t.co/qS4thAaK9I UK to run up highest debt interest bill in developed world https://t.co/qS4thAaK9I"
X Link 2023-07-25T10:26Z 91.8K followers, 32.2K engagements
"Pretty sure thats the technical term"
X Link 2023-08-03T08:03Z 83.3K followers, 49.5K engagements
"Who are the winners and losers from higher interest rates My simply rule of thumb is: - [--] year olds have the debt - [--] year olds have the savings"
X Link 2023-08-03T08:23Z 83.2K followers, 193.7K engagements
"On the mortgage pain specifically - it's concentrated amongst richer households because that is where the mortgagors are. BUT the minority of lower income families that do have a mortgage is where problems are going to be most acute (ie the disposable income hits are biggest)"
X Link 2023-08-03T08:38Z 83.3K followers, 16.4K engagements
"Obviously winners/losers language shouldnt miss the big picture: we're almost all losing from the higher inflation/higher interest rate world we find ourselves in (e.g higher inflation hits savers' savings even as the higher rates raise their savings income)"
X Link 2023-08-03T08:32Z 92K followers, 11.4K engagements
"Endorse this blog by @toby_n - case for bigger pension funds is a better economy not just better pensions. Ill even forgive him for describing our proposals in this area as Marxist given he then supports them"
X Link 2023-08-30T06:23Z 81K followers, [----] engagements
"Once a year I remind myself that in the mid-1960s national government was so worried about the strength of Birmingham's economy that they partially banned it growing https://api.parliament.uk/historic-hansard/commons/1965/nov/03/control-of-office-and-industrial https://api.parliament.uk/historic-hansard/commons/1965/nov/03/control-of-office-and-industrial"
X Link 2023-08-31T15:50Z 91.9K followers, 168.9K engagements
"Autumn Statement is coming on 22nd November. It's not a coincidence that's a week after the Chancellor is basically guaranteed good news on falling inflation (because of timing of energy price falls) The Chancellor @Jeremy_Hunt has commissioned the @OBR_UK to prepare an economic and fiscal forecast to be presented to @UKParliament alongside his Autumn Statement on 22nd November [----]. https://t.co/qiGOeFvnBq The Chancellor @Jeremy_Hunt has commissioned the @OBR_UK to prepare an economic and fiscal forecast to be presented to @UKParliament alongside his Autumn Statement on 22nd November 2023."
X Link 2023-09-05T11:21Z 91.9K followers, 38.7K engagements
"Schools being closed today is about mistakes made in the past. But we are repeating those mistakes right now: public sector investment is being cut from almost 3% GDP to 2.1% by 2027-28. because that's (ludicrously) what we do when a bad fiscal forecast turns up"
X Link 2023-09-05T14:06Z 77.8K followers, 86.6K engagements
"The long run in to the [----] election has begun this week. And you know what'll matter more to that than concrete related gaffs or shadow cabinet reshuffles What's happening to the living standards of the voters over the next year. Here's our deep dive"
X Link 2023-09-06T07:53Z 83.3K followers, 35.1K engagements
"Who has those savings 65-74 year olds benefit by six times as much as under 35s (obviously given we save as we age - at least in theory.)"
X Link 2023-09-06T08:18Z 83.2K followers, [----] engagements
"But coming back to the big picture where are we This is on course to be the worst parliament on record for household living standards. Labour is going to try to make this election a referendum on that point while the government try to focus it on things starting to improve"
X Link 2023-09-06T08:18Z 83.3K followers, [----] engagements
"Govt is sticking to the triple lock next April so the state pension will rise in line with earnings. BUT the debate i is which earnings growth measure to use ie Treasury would prefer save money by ignoring currently strong bonus payments"
X Link 2023-09-07T16:54Z 83.3K followers, 14.1K engagements
"This is the biggest welfare decision the Chancellor has to take for the Autumn Statement (cuts to incapacity benefits have already been announced). It's really important to consider the wider context"
X Link 2023-09-08T18:18Z 83.3K followers, 60.1K engagements
"Even with benefits rising in line with inflation as normal the poorest half of households are set to see their incomes FALL next year with 300k more people falling into absolute poverty. Does the government really want to make that situation worse in an election year"
X Link 2023-09-08T18:18Z 87.4K followers, 37.2K engagements
"Benefits will be worth less in real terms next year than this EVEN IF government increases them in line with inflation. Thinking Britain needs a further cut on top of that is an odd lesson to take from the surge in families struggling to afford meals or their rent"
X Link 2023-09-10T15:57Z 83.3K followers, 146.6K engagements
"Don't go and climb the North Face of the Eiger right now. In case you were planning to"
X Link 2023-09-11T14:31Z 83.3K followers, 13.5K engagements
"That is a massive fall in employment - down 0.5%. Straight into higher unemployment. The red hot labour market of last year is long gone"
X Link 2023-09-12T06:11Z 83.3K followers, 91.5K engagements
"The big shift is rising male unemployment"
X Link 2023-09-12T06:11Z 83.3K followers, [----] engagements
"We're not yet talking a high headline unemployment rate (4.3%) by historical standards but look at the direction of travel - short term unemployment now well above pre-pandemic levels"
X Link 2023-09-12T06:19Z 81.1K followers, [----] engagements
"This is the key chart the central bank will be angsting over - short term path of inflation is definitely down. But has pay growth also turned down (dotted blue lines)"
X Link 2023-09-12T07:02Z 83.2K followers, [----] engagements
"The good news: wages are at last rising faster than prices The bad news: the last [--] years. We're earning 230/week less than if the pre-financial crisis trend had continued"
X Link 2023-09-12T17:44Z 91.7K followers, 18K engagements
"If were serious about Britain being a more prosperous country its time we got serious about the future of its twin second cities - Birmingham and Manchester. First of two mammoth reports on what that requires out today"
X Link 2023-09-14T08:35Z 83.3K followers, 46.3K engagements
"Politics = choices"
X Link 2023-09-16T11:28Z 83.3K followers, [---] engagements
"There is of course a better/more nuanced argument that says it would have been a good idea for @bankofengland to have dealt with a (partially) recognised weakness in the pensions system while rates were low rather than waiting til the problem became acute as rates surged"
X Link 2023-09-17T10:14Z 83.3K followers, [----] engagements
"@bankofengland But the fact we knew there were rising interest rates related risks outside the banking sector is exactly the reason why this was such a bad time to turbocharge those risks with fiscal/institutional recklessness"
X Link 2023-09-17T10:26Z 83.3K followers, [----] engagements
"You also can't make a big deal out of saving people from the incredible evil of heat pumps or electric cars. while still telling the punters they need heat pumps and electric cars"
X Link 2023-09-19T17:30Z 83.3K followers, [----] engagements
"On the substance really important to think about these targets separately. EVs are the part of the net zero transition that actually saves households money - and any ban on petrol/diesel cars was always contingent on delivering charging infrastructure (=the real policy challenge)"
X Link 2023-09-19T17:30Z 83.2K followers, [----] engagements
"Inflation falls to 6.7% in August. Will be very welcome news at @bankofengland even though the fall is small because a (temporary) tick back up was expected"
X Link 2023-09-20T06:06Z 83.2K followers, [----] engagements
"Britain's labour market is nowhere near as dynamic as people seem to think - in part because workers bear too much risk. @_louisemurphy has some answers 👇"
X Link 2023-09-21T16:00Z 83.3K followers, [----] engagements
"Good abstract debate to be had on A Levels vs a broader baccalaureate BUT no progress on this is feasible pre-election: - were only just into rolling out a major reform of post-16 education in the form of T-Levels. - And its really hard. - And we havent got the teachers"
X Link 2023-09-21T21:32Z 83.2K followers, 14.7K engagements
"So: - stop saying economic change is always speeding up - start paying attention to it slowing down what that means for productivity and how policy could support the right kind of change going forward"
X Link 2023-09-25T08:17Z 91.8K followers, [----] engagements
"The most annoying thing about the HS2 debacle (it's a competitive field) is the contrast between everyone in British politics endlessly litigating should we/shouldn't we build it vs no focus on how we build it well (once we'd decided to)"
X Link 2023-09-26T15:59Z 83.3K followers, 28.6K engagements
"Ideally those pre-disposed to commentating would focus on writing newspaper columns not running for office. Politics despite appearances is a vocation requiring wanting to bear burden of responsibility for what happens"
X Link 2023-09-26T16:05Z 91.6K followers, [----] engagements
"What's wrong with public investment in the UK Much more than HS2. There are [--] big problems to understand 🧵"
X Link 2023-09-27T09:52Z 83.2K followers, 347.8K engagements
"The levels problem. We consistently invest too little: the average OECD advanced economy has invested 50% more (relative to GDP) than the UK since the turn of the century. The results can be seen everywhere from fewer MRI scanners in hospitals to longer commutes vs OECD norms"
X Link 2023-09-27T09:52Z 83.3K followers, 34.7K engagements
"This reflects basic politics (easier to cancel future investment projects than fire nurses/raise taxes today) but also fiscal rules that focus on net debt which: - doesnt distinguish between capital and current spend - ignores the assets side of public sector balance sheet"
X Link 2023-09-27T09:52Z 83.3K followers, 24.9K engagements
"There is no plausible path for Britain our of its current stagnation that doesn't include us becoming a higher - and better - investing nation. Time to invest for the future and stop living off our past"
X Link 2023-09-27T09:52Z 83.2K followers, 22.9K engagements
"The man whose quietly spent [--] decades raising the finance government needs (including through a cash hungry financial crisis and pandemic) from markets is retiring. Congrats to Robert Stheeman"
X Link 2023-09-28T13:37Z 83.3K followers, [----] engagements
"UK economy started [----] stronger than previously thought. Combined with previous upgrade to immediate pandemic recovery UK now looks 'normal' by European standards since covid (in line with France/Italy ahead of Germany everyone lagging US/Canada)"
X Link 2023-09-29T07:44Z 77.8K followers, 17.2K engagements
"Even without this rise many families will face higher energy bills this winter than last given: - the higher standing charge regulators have set - reductions in government support"
X Link 2023-09-29T11:41Z 83.3K followers, 15.2K engagements
"Jeremy Hunt's speech today. Two focuses so far: - confirms national living wage to rise to [--] an hour - promise to tighten benefits sanctions What to make of that 🧵"
X Link 2023-10-02T06:41Z 83.3K followers, 33.2K engagements
"Announcing an 11/hr minimum wage is: - good news for workers next April - likely an underestimate - it'll probably be a bit over [--] (reflecting faster than expected wage growth) - bad news for the @lpcminimumwage (who wont love the Chancellor pre-empting their recommendation)"
X Link 2023-10-02T06:46Z 83.3K followers, [----] engagements
"@lpcminimumwage We shouldn't forget how transformational the introduction and ramping up of the minimum wage has been. For [--] years now the lowest hourly earners have consistently see the fastest wage growth"
X Link 2023-10-02T06:49Z 83.3K followers, 10.3K engagements
"His long term answer is big reform of assessments for ill-health related benefits see March Budget but this won't happen until late 2020s - DWP don't know what the new policy is - needs primary legislation - private providers contracts for current assessments have to expire"
X Link 2023-10-02T07:50Z 83.3K followers, [----] engagements
"So in short term govt is trying to reduce numbers the existing assessment is finding have 'limited capability for work-related activity'. This was announced in September & will be confirmed on 22nd November (Autumn Statement). Those affected lose 390/month + have conditionality"
X Link 2023-10-02T07:50Z 80.2K followers, [----] engagements
"Worth noting the government itself made this binary can/can't work labelling problem worse in [----] by removing an intermediate level of support for those who tests found had intermediate/fluctuating levels of incapacity. That was a very bad idea - as @DWPgovuk are now finding"
X Link 2023-10-02T07:53Z 83.3K followers, [----] engagements
"So confused. Those on lower/middle incomes (more likely to be driving petrol/diesel cars for longer) will be paying fuel duty while lack of road charging for electric vehicles = huge tax cut for the 'woke' Tesla drivers"
X Link 2023-10-02T10:46Z 83.3K followers, 27.3K engagements
"This is very telling. Actual answer: - higher interest rates raising debt interest costs - George Osborne (now seeing the tax rises that weve learnt were necessary post-2010 ie because depth of austerity totally unsustainable)"
X Link 2023-10-02T14:35Z 83.3K followers, 20.9K engagements
"There are big political incentives that drive both big parties to make the "towns have lost out as everyone has focused on cities" argument - marginal seats are in towns these days as cities have trended Labour and counties Conservative. But the economics is very confused"
X Link 2023-10-03T09:10Z 83.3K followers, 28.9K engagements
"Best way to understand quite how 'bold' @RishiSunak's new strategy of running against the last [--] years is Compare his speech to the famous start of Gordon Brown's [----] conference effort at exactly the same point in the last political cycle = pure record defence"
X Link 2023-10-06T09:35Z 83.3K followers, 30.8K engagements
"Video for the youth who'll never have seen it"
X Link 2023-10-06T09:35Z 83.3K followers, [----] engagements
"You know what's spiralling up as fast as HS2's costs The revenue HMT is raising from freezing income tax/national insurance thresholds. The policy is now set to raise 40bn/yr up from 30bn as recently as March and 10bn when first announced"
X Link 2023-10-06T12:27Z 83.3K followers, 163.5K engagements
"This is biggest rise in incomes taxes for at least [--] years"
X Link 2023-10-06T12:28Z 83.3K followers, 103K engagements
"This is 1) a great visualisation 2) stress inducing for anyone pondering the future of public finances"
X Link 2023-10-07T09:29Z 91.8K followers, 217.9K engagements
"If forced I'd say markets are overreacting on longer term rates but no-one should be certain"
X Link 2023-10-07T09:29Z 83.3K followers, [----] engagements
"The "this is just interest rates going back to pre-financial crisis norms so no big deal" take is far too sanguine. Why - Government debt stocks are far higher (=debt interest squeezing out public services & badly needed investment) - If sustained it means big asset price falls"
X Link 2023-10-07T10:09Z 83.3K followers, 17.3K engagements
"Very sad news. British economic policy making owes Nick a huge debt of gratitude"
X Link 2023-10-07T18:45Z 83.3K followers, 17.3K engagements
"Rhetoric asise the big picture economic argument of @RachelReevesMP speech: Britain needs to start investing again. This is 1) right 2) hard 🧵"
X Link 2023-10-09T11:41Z 83.3K followers, 228.7K engagements
"She's not wrong [--]. For almost all of the past two decades the UK has been in the relegation zone (bottom 10%) of the OECD business investment league table"
X Link 2023-10-09T11:41Z 83.3K followers, 13.3K engagements
"The political economy task that both main parties should be wrestling with is how to raise investment AND what the consequences of that are"
X Link 2023-10-09T11:50Z 83.3K followers, 13.8K engagements
"On how to raise PRIVATE investment Labour has two arguments: - crowding in green investment with clear net zero plans/public investment - a platform of political/economic stability generally (ie not being Liz Truss or Boris Johnson) These will help but"
X Link 2023-10-09T11:50Z 83.3K followers, 11.1K engagements
"Then we come to the consequences of being a higher investment nation. There are two big ones and only the first gets any attention: - the public finances consequence - the 'how much we consume today' consequence"
X Link 2023-10-09T11:54Z 83.3K followers, 30K engagements
"On the public finances higher interest rates are hugely complicating the task of moving Britain into a higher investment phase (and should be making us weep about our failure to invest over the past decade of ultra-low rates)"
X Link 2023-10-09T12:01Z 91.9K followers, 11.6K engagements
"All we talk about in British politics is the public finances - but becoming a higher investment nation has a much bigger consequences for the UK economy as a whole. It's time those of us who want more investment to focus on the consequence for consumption"
X Link 2023-10-09T12:04Z 77.8K followers, 10.1K engagements
"In time higher investment will mean a larger economy - higher GDP. Our lack of investment is a big contributor to our weak productivity growth. BUT in the short/medium term the resources for higher investment have to come from somewhere - it changes the composition of our GDP"
X Link 2023-10-09T12:12Z 83.3K followers, [----] engagements
"In many ways whether and how we manage that is the political economy task of the next few decades - it's the hard part of the net zero transition and it's what will turn growth aspirations into growth reality. Time we got on with it"
X Link 2023-10-09T12:12Z 83.3K followers, 12.6K engagements
"North/south split very visible in new @ons local income data but note: - In North Yorkshire/Humber & North East have the poorest areas (Wales too pre-housing costs). Y&H has [--] of [--] poorest places - South West look like wider South with few poor areas but has few rich places"
X Link 2023-10-11T08:55Z 83.3K followers, 34.1K engagements
"The lowest earners live in families spread right across low and middle income Britain - true for both hourly or weekly low pay"
X Link 2023-10-12T13:34Z 83.3K followers, [----] engagements
"The nerds do not inherit the earth https://www.theguardian.com/commentisfree/2023/oct/15/revenge-of-nerds-a-fantasy-jocks-have-more-successful-careers https://www.theguardian.com/commentisfree/2023/oct/15/revenge-of-nerds-a-fantasy-jocks-have-more-successful-careers"
X Link 2023-10-15T15:22Z 91.7K followers, 12.1K engagements
"Inflation sticks at 6.7% in September. Very slightly higher than market expectations but the @bankofengland and @Jeremy_Hunt will be confident they have a decent fall coming next month thanks to pre-announced changes to the energy price cap"
X Link 2023-10-18T06:22Z 77.8K followers, 29.9K engagements
"Advanced manufacturing: - can contribute to a productivity strategy - cannot be the backbone of a good jobs strategy"
X Link 2023-10-18T20:03Z 77.7K followers, 13.5K engagements
"Both Conservative and Labour say their policy is to have public debt falling. But it's not. We're holding debt flat in good times but ratcheting it up with each recession. That's why we've trebled our debt in the past [--] years - the largest peacetime rise on record"
X Link 2023-10-19T07:59Z 83.3K followers, 46.3K engagements
"Markets are convinced the low interest rates era is over. economists are equally sure rates are heading back down once towards today's inflation trauma is over. Someone is very wrong"
X Link 2023-10-19T16:06Z 83.3K followers, 22.9K engagements
"Lower stamp duty all else equal would be a good thing but I cant be the only one bored of MPs weighing up their tax cut wish list without any wrestling with what it takes for it to happen"
X Link 2023-10-21T10:14Z 77.8K followers, 31K engagements
"Housebuilders get away with producing rubbish exactly because homes are in short supply (and they keep new homes in short supply in local areas). The trade-off between building more and building better is overdone"
X Link 2023-10-21T13:48Z 77.8K followers, 32.4K engagements
"Memo: its the state of the public finances and of public services rather than inflation that stands in the way of tax cuts"
X Link 2023-10-22T11:38Z 77.8K followers, 38.2K engagements
"You know how nothing works in 2020s Britain - you cant get a train a GP appointment or a school roof that stays up. Well we can add our labour market data to the list"
X Link 2023-10-24T07:03Z 77.8K followers, 103.1K engagements
"Whats going on The @ONS is saying it doesnt have confidence in its flagship Labour Force Survey. Which is awkward - its central to decisions the @bankofengland takes on interest rates or how much the government panics about ill health pushing people out of work"
X Link 2023-10-24T07:04Z 77.8K followers, 13.8K engagements
"@shjfrench Although note as @hcslaughter_ regularly reminds us that you can't see that self-employment fall in the tax data"
X Link 2023-10-24T12:38Z 77.8K followers, [----] engagements
"Surely life isnt ever this good"
X Link 2023-10-24T15:36Z 77.9K followers, 36.1K engagements
"@Samfr @jrf_uk Although when we're talking about destitution rather than poverty the key distinguishing issue really is young single people - the benefit system almost makes you destitute by design if you fall on hard times in that situation"
X Link 2023-10-24T17:39Z 77.8K followers, 40.4K engagements
"You should read @jrf_uk's grim paper on destitution in 21st Century Britain. 3.8m people experienced destitution in [----]. This isn't just being poor it's the real hard edge of going without food shelter or other essentials"
X Link 2023-10-24T18:21Z 77.8K followers, 39.5K engagements
"The exception to that is London whose progress is mind-blowing: - in [----] 1-in-4 children were in workless households - in [----] that had fallen to 1-in-10 The prize for cities in successfully making a post-deindustrialisation transition is massive"
X Link 2023-10-25T10:34Z 77.8K followers, [----] engagements
"@ChrisGiles_ Vacancies yep hugely down. Plus all employment data pointing to same broad pattern of increases having ground to a halt over the summer/small falls - PAYE workforce jobs (and. LFS). Agree nothing happening in claimant count"
X Link 2023-10-25T15:43Z 77.8K followers, [----] engagements
"@M_C_Klein And that not buying lots of Russian gas is quite a big early 2020s advantage"
X Link 2023-10-26T17:16Z 77.8K followers, [----] engagements
"Pay falling has become dangerously normal: we've seen declines in [--] out of [--] years from [----]. This should still be shocking to us"
X Link 2023-11-01T16:07Z 81.5K followers, 94.7K engagements
"In the end the public can smell whether a politician is about trying to solve problems or happy to create/exploit them"
X Link 2023-11-09T11:00Z 78.1K followers, 107.9K engagements
"Economy flatlines in third quarter of this year (saved from an outright fall by September growth of 0.2%)"
X Link 2023-11-10T07:38Z 81K followers, 17.6K engagements
"Clear signs of weakening domestic demand household's consumption down 0.4% and business investment 4.2%. Higher interest rates (amongst other things) are slowing the economy. This matches what surveys of firms and consumer confidence are telling us"
X Link 2023-11-10T07:40Z 81K followers, 23.7K engagements
"David Cameron as Foreign Secretary helps a lot with avoiding Suella being the news today. Helps less with relationships with every single European government"
X Link 2023-11-13T09:46Z 78K followers, 18.6K engagements
"Hot take: inflation falls The human take: prices are up 16% over the past [--] years. Make that 49% for energy and 28% for food"
X Link 2023-11-15T10:05Z 79.6K followers, 126.8K engagements
"1) tax revenues are coming in much stronger because of higher than expected inflation/earnings 2) most of that is money illusion - not actually extra real tax revenues. 3) it only reduces borrowing IF you cut public services by leaving them to deal with the higher inflation"
X Link 2023-11-16T21:13Z 78.9K followers, 69.9K engagements
"Some of the extra revenues are real in sense of accelerated fiscal drag from higher inflation/earnings growth. But most are money illusion"
X Link 2023-11-16T21:17Z 78.1K followers, [----] engagements
"higher revenues are coming in via income tax/national insurance because weve frozen thresholds IF we then use those revenues to cut inheritance tax (rather than unfreeze the thresholds) then were shifting the tax system even more to tax earnings not wealth"
X Link 2023-11-16T21:23Z 78.8K followers, [----] engagements
"Gentle reminder you can currently inherit almost [--] average priced homes tax free (1m value). Thats worth more than an entire lifetime of full-time work on the minimum wage (917k) which (obviously) we very much do tax"
X Link 2023-11-18T09:37Z 80.8K followers, 849K engagements
"How about: Baby boomers like me have had it so good. Thats why its right to actually allow something to be built in this country and invest on the future rather than living off the past to give a helping hand to Gen Z and Millennials"
X Link 2023-11-18T11:17Z 78.8K followers, 33.1K engagements
"NEW: What difference will cutting the basic rate of income tax make Here's the [--] facts you need to know"
X Link 2023-11-20T18:33Z 79.6K followers, 68.3K engagements
"2. This is a tax cut for the richest half of the population. They get 80% of the gains. Remember anyone on Universal Credit loses 55% of any tax cut (because their benefits are reduced)"
X Link 2023-11-20T18:41Z 83.3K followers, [----] engagements
"3. For most people taxes will still be going up. Next April the ongoing freeze to Income Tax/National Insurance thresholds will cost basic rate employees [---]. A 1p basic rate cut only outweighs that IF you happen to earn between [-----] and [-----]. Everyone else sees taxes rise"
X Link 2023-11-20T18:41Z 79.3K followers, [----] engagements
"4. Freezing thresholds while cutting the basic rate would transfer the tax burden from high to middle-income Britain. This is because rate cuts see bigger gains for higher earners while tax rises from threshold freezes are flat rate (for most of those paying income tax)"
X Link 2023-11-20T18:47Z 81.1K followers, [----] engagements
"5. Overall taxes are rising. 7bn giveaway from 1p basic rate cut is far smaller than 40bn takeaway from 6-year tax threshold freezes. Then there's other tax rises. Big picture = Britain in the 2020s is a higher tax country than we are used to being"
X Link 2023-11-20T18:47Z 81.1K followers, [----] engagements
"What will the impact be of a rate cut to income tax (or national insurance) tomorrow be Your pre-briefing 👇"
X Link 2023-11-21T09:58Z 81.1K followers, 54.5K engagements
"Short version: you're not 'cutting taxes' if you raise people's taxes a lot and then given them back a little"
X Link 2023-11-21T10:01Z [--] followers, 47K engagements
"All else equal if you're going to cut a personal tax rate then cutting national insurance is better than cutting income tax (because it marginally reduces our large bias against income from wages)"
X Link 2023-11-21T10:03Z 78.9K followers, [----] engagements
"If 1p employee/self-employed national insurance cut is announced tmrw: - costs 5bn (vs 7bn for basic rate income tax cut) - Benefits up to 28m workers (less than IT because pensioners already exempt from NI) -gains almost always smaller than losses from next April's freezes"
X Link 2023-11-21T12:29Z 79.1K followers, 18K engagements
"Public finance data today a bit worse than expected: - October borrowing higher - downgrade to higher than expected tax revenue over this fiscal year as a whole (but still up substantially)"
X Link 2023-11-21T13:25Z 78.9K followers, [----] engagements
"Minimum wage next April confirmed at [-----] - within 2p of @resfoundation projection from @nyecominetti. Third largest rise in the minimum wage's history"
X Link 2023-11-21T16:51Z 79.1K followers, 24.4K engagements
"Remember: taxes aren't being cut because inflation has fallen they are being cut because inflation has been higher than expected (flattering the public finances)"
X Link 2023-11-22T09:21Z 80K followers, 69.8K engagements
"Autumn Statement live tweeting service is about to start - mute away if fiscal chat isnt your thing (you poor people)"
X Link 2023-11-22T12:35Z 79.6K followers, 57.9K engagements
"Pre-election flog off of NatWest coming - hopefully not at below market price"
X Link 2023-11-22T13:00Z 79.8K followers, 10.6K engagements
"Growth and household incomes are really grim next year - pain basically delayed from this year. Gdp growth of 0.7% would be weakest in an election year for over [--] years. Higher inflation forecast means household incomes will actually be FALLING in the election year"
X Link 2023-11-22T13:02Z 80K followers, 48.8K engagements
"Wrong to say it is an alternative to the role of benefits in cutting poverty - middle income households are biggest winners from higher minimum wage"
X Link 2023-11-22T13:23Z 79.1K followers, [----] engagements
"Here's the key "have taxes been cut" chart. Even after today's tax cuts the tax burden reaches its highest level for [--] years - up by well over [----] per household since on pre-pandemic levels"
X Link 2023-11-22T13:37Z 80.4K followers, 163.9K engagements
"The Autumn Statement in one tweet =pre-election giveaways have started early despite a grim economic forecast. Individual tax cuts are well targeted at earnings/investment BUT are based on fiscal fiction that huge cuts to public services post-election can be delivered"
X Link 2023-11-22T13:49Z 80.2K followers, 53.4K engagements
"The chart I'd be most worried about as a Tory MP The disaster of what's happened to household incomes: 3.5% fall between the last election and the coming one is the largest reduction in real living standards since ONS records began in the 1950s"
X Link 2023-11-22T13:55Z 81.2K followers, 438K engagements
"First round of @resfoundation analysis of Autumn Statement is out - full report with everything you need to know will follow at 8am tomorrow"
X Link 2023-11-22T15:45Z 79.1K followers, [----] engagements
"Today's 10bn National Insurance cuts are dwarfed by [--] billion of already announced NI/income tax threshold freezes. As a result most of us are losers. Whose better off Only those earning: - around [-----] to [-----] - [-----] to 52000"
X Link 2023-11-22T17:01Z 80.7K followers, 89.1K engagements
"Two things are both true about this Autumn Statement. It's: - Political = pre-election giveaways funded from post-election fiscal fictions - Technocratic = often good individual decisions with benefits paying off in the long term ie well after the election"
X Link 2023-11-22T20:06Z 83.3K followers, 24.6K engagements
"4. Planning changes are in the right (ie get things built) direction. Most controversial bits are slightly hidden (understandable pre-election) but promise to remove ability for locals to hold up nationally important projects ✔ See @Sam_Dumitriu thread"
X Link 2023-11-22T20:23Z 79.1K followers, 11.6K engagements
"Sharing these because the Autumn Statement is basically silly in big picture fiscal terms (pretending taxes are being cut pencilling in mad spending cuts) but for balance we should note it includes some better micro decisions that will benefit whoever wins the next election"
X Link 2023-11-22T20:26Z 79.1K followers, [----] engagements
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