40 Burst results for "Conservative Party"
Fresh update on "conservative party" discussed on Bloomberg Daybreak Europe
"Bloomberg radio. We have Stephanie Flanders head of Bloomberg economics Felipe arbonne conveyors reporter and Valerie Tyler markets reporter with us since studio discussing, of course, what has been a massive week after the mini budget last Friday, Valerie, you want to come in on that point about what the Bank of England is doing. I fear that after this reaction we've had to these supply side tax cuts that they're going to get a bad rap. But history lets us focus on 1981, what Reagan did in the U.S.. He released a series of budget measures, one of them being huge tax cuts, big reorientation of the U.S. economy towards a market friendly supply side economics. And he was warned then. This is a gamble, right? But time was on his side. He had perfect timing. The Volcker shock, the inflation shock of the 70s was over. They were cutting rates. The U.S. at that time was running a current account surplus. It's hard to imagine. But I'm sure he was given he injected this into an economy that so many different things I can talk about. The dollar reserve system was just picking up storm people demanded treasuries, right? Now all of these things that led that to be a success is not what Liz is trust as government is sitting on. They're sitting on current account deficits, right? Well, this is it. And I want to, I'm sure, Stephanie fontas will have a view on this with the foot in both camps in the U.S. and the UK often Stephanie. You know, this is the comparison that I'm sure that the Conservative Party would like to think about reaganomics and Liz trust in the Thatcher comparisons, et cetera, but we're in a very different spot. Yes, and it's interesting, isn't it? I think probably some of the most what's remembered about the Reagan years is actually the deficits more than anything else, and it was this ballooning of both the trade and the and the budget deficit in those years, but also really striking really difficult reforms controversial reforms about their airline liberalization of the airlines had enormous impacts and caused a lot of disruption. That sort of speaks to those kind of the reforms that they're talking about. If they're going to genuinely do something different to growth that hasn't been achieved by as Phil says, all these other governments talking about supply side reforms. It actually means getting rid of the dead wood in UK in these other governments talking about supply side reforms. It actually means getting rid of the dead wood in UK industry if you take it seriously. You would have if there are a lot of economists who work with Liz trust, would say there's actually Alistair heath has written a piece today in rival publication about giving out a sort of intellectual version of what's underpinning that plan. And it is that we've been living on borrowed time with all this cheap money. Now around the world, businesses and governments will have to really show what they're made of because they can't just get by on sort of free money. And in that environment, you could have a loss of not very productive, not very successful UK businesses. Be put out of business in the interest of becoming a more dynamic and productive economy. And I think that there's a sort of challenge there clearly politically. If you're going to have to cut spending and be unpopular on that front and also potentially win a lot of enemies in the industrial sector in the world of business, in order to achieve your growth plan. Well, well, how credible is it really? Well, I mean, from a deposition, Stephanie, the Tory MPs aren't going to be happy with a lot of that movement as well because it's got politically. We'll play very badly in some parts of the country. Is there any way in which that plan can be implemented in a politically powerful way? Well, I'm sure what they would be thinking about. I mean, clearly, they will be looking for things that are crowd pleasers. They were looking for ways, some of the reforms to planning, which will make it easier for people to build houses will not be popular with the people living next door, but certainly could be popular with people who it'll make more affordable homes. They will be looking for constituencies who can be won over to different bits of this agenda. But I mean, going back to where we started, the basic point, so you can't do any of this if you don't have some form of stability and some sort of confidence in the macroeconomic structure and that we don't have that at the moment and that's going to stop businesses investing in this wonderful, sunny upland vision. I just want to sort of come to a final thought if I can. In the next few days, the next couple of weeks, really, what should investors what should we be thinking about then in terms of what is happening with markets and with government, Valerie, you know, Sterling continues to drop. We're watching guilt yields closely. What's the most important thing to think about if your trading or thinking about your investments now? Look, it's going to take some time for the market to digest what's happened, right? So there is still stuff to be to be shook out of this market. I highly doubt, given what we've heard from trust today, there is going to be no U turn. So that tells me yields are going to go higher Sterling is going to go weaker. We need to find this level where foreign investment is going to come back to the UK. And I don't think it's here. We had the Barclays Barclays strategist on earlier saying that if the bank of Illinois doesn't get aggressive, then the pound is going to go to parody. So we have some more banking on speakers later today. Hugh pill later this afternoon. The markets will be watching every word they say very closely. Yeah, Phil, you'll view. The key thing to watch out for is the announcements on the other side of the ledger, the savings that they're going to find. And that's how they're going to restore fiscal capability, which could then provide some bedrock to build things on. Stephanie, we heard from this trust this morning that she's sticking
The Left Compares Giorgia Meloni to Benito Mussolini
"Because that's not necessarily a popular thing with the democratic socialist crowd by the way a nonsensical term but that's for another day Over in Europe She won And the coalition of conservative parties won a majority which I believe about 44% of the vote Georgia maloney spoke proudly about God family and country ideas the left hates Antithetical to the less existence family Plus the family down the toilet bowl We don't care about the damn family The country country only matters if it benefits our power structure God They don't do God your God's the state shut your mouth So here's playbook this morning I want you to listen to the end of this They're talking about how maloney's campaign headquarters A bunch of shocked young activists embraced in disbelief of what they had accomplished in electing Italy's most right-wing government since Benito Mussolini Had tipped great Rush Limbaugh paper flip What You're telling me a woman right And momentous moment in Italian politics electing a woman as prime minister right Whose entire central guiding ideological bedrock she built her house on is God family country and distributed power network tax cuts giving citizens back more of their economic power and government less You're comparing her to Benito Mussolini lizza and Daniels at playbook Are you guys really this freaking stupid Or do you just take stupid pills on Tuesday morning
Fresh update on "conservative party" discussed on Bloomberg Daybreak Europe
"Budget. Views is that she is not only sort of refusing to change path, which is not very surprising because it would be an incredible humiliation for her to have any kind of reversal. It's that unwillingness to accept that there was anything in last week's plan that has caused the mayhem in gilt markets and the fall in the pound in the last few days and you also heard that from the chief secretary who was on the today program. I think that's going to be a bit of a red rag, I think, to investors and financial markets. It's one thing to say we're sticking to the course. It's quite another to appear to be in denial. She kept talking about the concrete action being required to bring down inflation to help households, and that was why they had to act quickly. Of course, that was the reason to act with the energy package. And the financial markets, despite that potentially having an enormous price tag attached to it, were quite willing to swallow that along with many other difficult decisions that governments are taking around the world. It really was last week's plan, what they the ministers seem to be happy to say was a half baked plan because a lot of it is still to come. That has set this off. And I think the first step to getting any kind of credibility or putting a floor under UK assets will be just to accept that that was the cause and then make your argument that the markets are interpreting it incorrectly. Valerie, how would you characterize the market reaction that we've seen? Huge drop in yields yesterday after the intervention by the Bank of England, slight rebound that we're seeing today. Yeah, so the intervention announced was really to cause to cause calm to one specific sector of the markets that was long and guilt. Now who holds long and guilt, UK pensions. I was actually looking at the numbers. Do you know that UK pensions under management are nearly a 100% of the UK's GDP? So they're huge. They're huge, especially in the long end. And they're also highly levered. So we had an asset, which normally doesn't wing around this much. I think historical vault is near 5 to 8 basis points a day. All of a sudden start moving 40, 45, 50 basis points. And these pension funds came in, and their risk models were telling them to de risk. And when the essentially the largest and maybe the only long end structural holders of guilt is derisking, that can cause huge ramifications, not just to guilt, but to the US Treasury market and to European sovereign bonds. So they announced this big program in order to try to stem the volatility. They don't want to necessarily reverse what has happened. They just want markets to be able to take a big breather, reverse some of the volatility. And prevent this derisking from spreading to their assets. Yeah, so I mean, kind of a strange world where we're basically in QT and QE at the same time, we're sort of tightening and expanding from the Bank of England. But Philip, let me bring you in now to the conversation. You've got a fantastic piece on the terminal this morning talking about how actually the UK crisis has been many years in the making. Why? It comes back to the point about government credibility and this point that the markets just do not believe at the moment that there is fiscal discipline. Stephanie was saying, if they had actually just come out with the energy plan at the mini budget and none of the other stuff, they probably would be being celebrated at the moment, you know, they're helping to bring down inflation mechanically and looking after household incomes. But they came out with us all this other stuff. All these other tax cuts. 45 billion pounds worth of tax cuts. And they just expected the markets to just take them on their word because of the Conservative Party's record for sound money because of the, because of the fact that UK has never defaulted officially. They've just believed that there would be faith and trust. And what's happened since really, you could probably date it back to the Scottish referendum when there was this casual approach in politics towards what would have been a sort of existential decision until the last few weeks it no one seemed to really realize what we got ourselves into. Then you had the Brexit referendum where people started playing fast and loose with the truth of some of the claims. And then following that just kind of just this endless political mayhem and then it all escalated a bit under Boris Johnson when the judiciary were brought under just political attacks on the judiciary and our institutions then started to be to be attacked and we got that in the leadership campaign most of all were Liz trusts. Nobody wants to listen to experts, the Central Bank needs to have its mandate changed. The fiscal watchdog needs to be sidelined and we want to break up the treasury orthodoxy, calling it the blob. And the markets are just kind of said, how can we trust a government that doesn't even have faith in its own institutions and has now just said to us we don't really care about the cutting, allowing this amount of borrowing. Stephanie, we heard yesterday from the institute of directors that the institute, the missing OBR forecasts was what led to this catastrophe. How important is the office of budget responsibility in all of this? And can those forecasts help to resolve this crisis if it gives us a perspective on what's going to happen to government finances? I think it can make the numbers add up. It can't make them any more palatable, I think, because what we're going to be looking at in November when they do when they are finally allowed to do the numbers would be higher inflation down the track, much short, much lower in the very short term because of
The Significance of Giorgia Meloni’s Big Win in Italy
"Italy has had a free and fair election and the result is a big win for the right-wing or Conservative Party. And it's actually a coalition party. But the leading member of that coalition is a group called Friends of the fraternal order of Italy or Friends of Italy. And fraternal brothers of Italy and its leader is Georgia maloney, who will become the next Italian prime minister. Now, there might have been some leftists in this country. I mean, they were, they were warning against this result, and they might have been hoping that it just as here in 2020 you'd get like later results that would pivot away from maloney and give the election to the left. But unfortunately for these leftists here in America, Italy has voter ID. And also the only mules that you find in Italy are four legged ones. They eat grass. So this wasn't honest election. And now the left is dismayed at the outcome, and there's also a lot of screaming about the outcome at the EU. Why? Because at the European Union, they can see that this is a trend that is beginning to sweep across Europe. In the beginning, the trend was only in Eastern Europe and you may say at the periphery of Europe. So Hungary, for example, pivoted in a right wing direction Victor Orban, Latvia, Poland, Lithuania, Czech Republic, Austria, Slovakia. And so the EU said, well, the mainstream countries in Europe aren't going that way. France is okay. Even though we've got le pen, Germany is okay. England is okay. And Italy is okay in Spain is okay, but now Italy, one of one of the countries, in fact, sometimes described as the beating heart of Europe. Italy has decided to also pivot sharply to the right.
Fresh update on "conservative party" discussed on Bloomberg Daybreak Europe
"DAB digital radio. So Liz truss defends the mess Bank of England intervention yesterday, it can't things down for a bit, but we're back to risk off this morning. We have three of the best Bloomberg writers and thinkers on radio in just a few minutes to unpack all the angles from policy to politics and the markets in particular. Speaking of which, let's just give you an update of the figures and where we stand this morning, we dropped 2% in terms of European stocks, the pound returns to declines today down 1% against the U.S. dollar trading at one spot zero 7 8 three. The Bloomberg dollar spot index jumps, 7 tenths of 1%. We're also back to the inflation concerns out of figure after figures out of Germany, a heightened those worries in terms of yields in this morning, U.S. benchmark eels on the ten year trading at three 86 are whooping jump of close to 13 basis points and stock futures for the start of U.S. trading are also slumping now one and a half percent lower for the NASDAQ. Our top stories this morning Liz truss says she is doing what she thinks is right for the UK's economy, speaking to local radio stations, the prime minister didn't budge from her controversial economic policies, pressure is piling on the government from within the Conservative Party, former Tory Chancellor Ken Clarke says it's been a catastrophic few weeks for the government. I was rather astounded by its contents, but they have made a catastrophic start. The budget was a serious mistake, and it has caused a serious problem. That's former Tory Chancellor Ken Clark. Well, officials inside the US Treasury Department are said to be concerned at volatility in financial markets triggered by the UK government's plans, Bloomberg has learned that the administration is working through the International Monetary Fund to apply pressure on Liz truss's government. The former US Treasury secretary Larry summers welcomed the intervention from the Bank of England, but says that the UK is still facing serious issues. I think it was the right thing to do, given the technical factors that had arisen in the market. And it's obviously brought some important stability to the guilt market. It does not resolve any of the fundamental contradictions in British policy. That was the former US Treasury secretary Larry summers, the current U.S. commerce secretary Gina raymondo has described truss approach as misguided after the IMF called Don Tuesday for the UK to quote reevaluate the tax measures. Well, the Chancellor quasi quarantine is facing calls from MPs to reverse the package of tax cuts, but one of the economists behind the tax plans Julian jessup says he thinks markets are overreacting. I think there's an element of speculative panic and froth here. Markets often overreacting in both directions. And the budget was also coming at a time when the dollar was still is strong across the board against other currencies. That's former chief economist at the institute of economic affairs Julian jazz up as prime minister Liz trust has been speaking this morning we have seen guilty yields rising the ten year guilty of now 18 basis points higher four spot 18. And now in other news today, a new leak has been discovered on the Nord stream pipelines in the Baltic Sea, bringing the total number of ruptures to four, several governments are calling the leaks and act of sabotage and blame Russia. It comes as the EU plans a new package of sanctions banning European companies from shipping Russian oil to third countries at prices above and internationally set cap. The mobilization and Putin threat to use nuclear weapons are further steps on the escalation path. We do not accept the sham referenda and any kind of annexation in Ukraine. And we are determined to make the Kremlin pay for this further escalation. That was Ursula fontaine, the EU commission president speaking. Hurricane Ian has made landfall in Florida as a massive category four storm the 5th strongest ever to reach the mainland United States. It's now losing power as it moves inland, but has left more than 2 million homes and businesses without electricity. President Joe Biden says his administration will help however it can. The evacuation notices the real, the danger is real and the storm passes. A federal government can be there to help you recover. We'll be there to help you clean up and rebuild to help you get Florida to get moving again. And we'll be there at every step of the way. U.S. officials say the southwestern coast hasn't seen a direct hit like this for around a hundred years, nearly all of Florida home to 21 million people as braced for widespread blackouts and floods. So those are today's top stories for you now. A bit more on what is dominating here in the UK, the prime minister Liz truss has defended a giant package of unfunded tax cuts, which triggered a collapse in the valley of the pound and a surge in borrowing costs. Now trust has been speaking to BBC local radio stations this morning, she is told them that her economic policy is the right plan for the UK that growth won't come through overnight, but that the government's energy package will reduce inflation. Well, less than a month into galvanizing, there has been this crisis of confidence, concern from the Americans, the IMF warning about rethinking the tax cuts. Joining us now is a triumvirate of Bloomberg's best, our head of economic Stephanie Flanders, our Bank of England reporter, Philip Aldrich, and our markets report at Valerie, really to lead us through what's been happening extraordinary days in markets and in politics, Stephanie, I'd love to start with you. Liz truss is finally emerged to defend last
Britain to learn who will succeed Johnson as prime minister
"Britain's Conservative Party has chosen foreign secretary Liz truss as the party's new leader putting her in line to be confirmed as prime minister The party's new need at Liz truss vows fast action on key issues I will deliver a bold plan to cut taxes and grow our economy I will deliver on the energy crisis dealing with people's energy bills but also dealing with the long-term issues we have on energy supply Trust beat rival Rishi sunak the government's former treasury chief by promising to increase defense spending and cut taxes while refusing to
Fresh update on "conservative party" discussed on Bloomberg Daybreak Europe
"Chris Philip argues that financial volatility is not just a UK problem. Across the globe interest rates are increasing. They are actually higher in the United States than they are in the United Kingdom. So pay problem. Across the globe, interest rates are increasing. They're actually higher in the United States than they are in the United Kingdom. So we are looking at global changes, global volatility. It's been happening not just in the last few days, has been happening in the last few months. The bank of Japan made an intervention in their currency market just a few days ago. That was the chief secretary to the treasury Chris Philip. Officials inside the U.S., Treasury Department are said to be concerned the volatility in financial markets triggered by the UK government's plans, Bloomberg has learned that the administration is working through the International Monetary Fund to apply pressure on Liz truss's government. Former US Treasury secretary Larry summers welcomed the intervention from the Bank of England, but said the UK is still facing serious issues. This was a market maker of last resort operation given the severe problem being created by forced liquidations associated with pension funds who had been hedging their long-term liabilities. That was former US Treasury secretary Larry summers, the U.S. commerce secretary Gina raymondo Kant was candid on Wednesday in her comments just describing trusses approach as misguided. And when it comes to pressure, it's also piling on the government from within the Conservative Party itself, quasi quantic is facing calls from MPs to reverse the package of tax cuts. The former Tory Chancellor Ken Clarke says that it's been a catastrophic few weeks for the government. I listen to the budget I was rather astounded by its contents, but they have made a catastrophic start. The budget was a serious mistake and it has cause a serious problem. That was the former conservative Chancellor Ken Clarke, while the former Bank of England governor Mark Carney has also told the BBC this morning that a partial budget during a tough global economic environment tough financial market position has led to dramatic moves in financial markets so that the tax cutting measures are working at cross purposes with the current Bank of England. Yeah, Mark Carney talking about an under cutting of some of the institutions in the UK as a result. Well, let's turn to news coming from the European Union next, which has proposed a new package of sanctions on Moscow that would ban European companies from shipping Russian oil to third countries at prices above an internationally set cap. Commission president says the EU is determined to make the Kremlin pay for further escalation of the Ukraine war. This oil price cup will help reduce Russia's revenues on one hand and it will keep the global market for energy stable on the other hand. So today in this package here, we're laying the legal basis for this oil price cap. The European Commission president, the new sanctions will also restrict the transfer of Russian wealth via digital assets like Bitcoin and will also extend the ban on steel products. And now hurricane Ian has made landfall in Florida as a massive category for storm the 5th strongest to ever reach the mainland United States. It's now losing power as it moves inland, but has left more than 2 million homes and businesses without electricity. The state governor of Ron DeSantis ordered two and a half million people to leave their homes but says that there have been other preparations. When we had hurricane Sally, you had a barge that was loose, ran into the bridge, and it knocked the bridge out. So that is something that is avoidable. And so that's been something that message has been sent down. That was the Florida governor Ron DeSantis, U.S. officials say that the southwestern coast hasn't seen a direct hit like this for around a hundred years, nearly all of Florida, home to 21 million people is now bracing for widespread blackouts and floods. Okay, those are our top stories let's get to some of the key events we're watching out for later today with Leigh Anne guerin's leann. Steven good morning and as we've been discussing the prime minister Liz truss is speaking this morning from 8 a.m. on a whole range of BBC local radio stations. Now these are her first interviews since Friday's mini budgets will be watching out for what she has to say. Also at 8 a.m. UK time we do get Spanish CPI figures and throughout the morning we're also getting regional inflation figures from Germany. The national number tracking price rises will be published at 1 p.m. UK time, but we have already had a surprise number from North Rhine-Westphalia coming in much higher than actually expected at 10.1%. The expectation for the national number is 9.5%. At 4 p.m. UK time, the BOE's hue pearl he's due to speak at an event hosted by the institute of directors, Cleveland, Fred president Loretta mester is participating in a panel on inflation at 6 p.m. UK time and the San Fran fed president Mary Daly. She shared jeweled to give a policy presentation later, this evening. We're also watching out for U.S. initial jobless claims and also GDP data, and there's going to be a huge range of ECB officials due to speak at the central banking conference in Lithuania throughout the day Stephen, so a lot's happening for us to keep our eyes on. Yeah, we've been hearing some of the lines from those interviews coming this morning the Portugal's Mario Santino among those speaking to Bloomberg today. Let's get back though to the situation here in the UK. It's been a roller coaster week in financial markets since the announcement of the mini budget on Friday, but how has public opinion been reacting to the government's policies or rejoinder by Craig Watkins CEO of kantar public in the UK, Craig, you've just published your Britain barometer poll for September and out was conducted before Fridays, many budget but after the energy package was announced. Let's start then with how the public's been viewing those steps taken for the energy market important
As Boris Johnson departs, UK takes stock of his messy legacy
"The moving vans have already started arriving at Downing Street as Britain's Conservative Party prepared to evict prime minister Boris Johnson the debate over what Mark he left on his party his country and the world were linger long after he departs in September if indeed he really is gone for good Johnson led Britain out of the European Union and won a landslide election victory before his government collapsed in a heap of ethics scandals During his final appearance in parliament as prime minister in July he summed up his three years in office as mission largely accomplished Johnson cultivated a buffoonish public image but he has had a serious impact on his country He bears much of the credit or blame for Britain's departure from the EU London
Fresh update on "conservative party" discussed on Bloomberg Daybreak Europe
"And changing your energy usage and keeping those bills that are manageable level. It's interesting because we have heard calls from other countries from governments to tell people to reduce their energy usage of certain times. We're not getting that sort of clear messaging from the government in the UK. Would that actually help do you think and encouraging people to manage their energy use and to reduce it at times where it's going to cost them more? It's possible it's obviously something that, as you say, the government hasn't provided much clear messaging on I don't know if they will in the next few months. So that's why you switch as a consumer champion is trying to get that messaging out wherever we can. And that's why we're still in we're still investing in our communications to customers across energy. We're still trying to make sure that people are in as good a position as it's possible to be over this Windsor, obviously that's extremely difficult. Yeah, the idea of nationalization, it came up again labor's Keir Starmer pledging to launch a nationalized energy company supposedly great British energy company within a year if the Labor Party were to get into office. I mean, others have called for nationalisation of UK parts of the UK energy industry, is that credible. I mean, certainly in Europe, there is more state ownership, but here in the UK, it's largely privately owned, foreign firms are a big players in the energy market. What do you make of the nationalization debate now? Well, labor's proposal specifically is an interesting one. It was obviously the headline from Keir Starmer's speech. And it is true that we in the UK are too reliant on gas. We do need to increase our renewable energy generation and labor's proposal would be one way of achieving that. Obviously, there are lots of caveats with that, not least the fact that they have to win a general election first. But it's not something that's going to change how much we pay for energy in the immediate future. So it's again more important that we consider what's happening in the here and now. And that is the fact that prices are set to rise on the 1st of October and households need to start taking action now. Okay. Bengali to you switch energy experts. Thank you very much for joining us ahead of that rise in energy prices, which will come into force from Saturday. This is Bloomberg. Markets, headlines, and breaking news 24 hours a day. The Bloomberg business app. Quick take. This is a Bloomberg business flash. From blebs European headquarters here in London, I'm Caroline Hepburn with this Bloomberg radio business flash, so the Bank of England may have pulled the UK back from the brink of a systematic crash yesterday, but it also had global ramifications it led to a rally in everything stocks commodities, bonds, and it was global and we're still seeing that this morning the MSCI Asia Pacific index is up half of 1%, the old country world index up a tenth of 1%, of course this after the S&P surged 2% and you saw European stocks and the FTSE 100 come back from deep losses yesterday to end in positive territory at the end of play. As for stock futures, though, they've now dipped into the red for European stocks S&P 500 in many features are now also trailing off down by four tenths of 1%. So perhaps short lived a boost, having said that, sentiment has turned so bad for global equities that an indicated developed by Sanford C Bernstein has actually sent out a bi signal, so is this perhaps a change in markets. In terms of bond yields then right now, U.S. yields at three 81 up by close to 8 basis points, this after the huge moves obviously in 30 year yields in the UK move more than a hundred basis points yesterday after that billion pounds from the Bank of England. Just for other markets that we're watching, the Bloomberg dollar spot index is surging 6 tenths of 1% Sterling down 1.1% this morning on cable and Brent crude futures also dropping 7 tenths of 1% $88 69. Now let's get to our top stories, Bloomberg's the anger and his highly am. Caroline good morning and thank you. Here in the UK, the Chancellor quasi quatre is facing calls from members of the ruling Conservative Party to reverse a package of planned tax cuts that are sparked turmoil in the markets. Meanwhile, executives at some of the City of London's biggest firms told karting he should not wait until his November budget to lay out how he intends to pay for his plans. This comes after the Bank of England dramatically intervened in the guilt market lay out how he intends to pay for his plans. This comes after the Bank of England dramatically intervened in the guilt market yesterday. Elsewhere, officials inside the US Treasury Department are said to be concerned at volatility in financial markets from the UK government's plans. Bloomberg has learned the administration is working alongside the IMF to apply pressure on Liz truss's government, but the former treasury secretary Larry summons says the Bank of England did need to intervene, and football injuries caused Europe's top clubs more than half a billion pounds last season and players are actually getting hurt more often. The number of injuries in Europe's 5 biggest leagues rose 20% last season compared with a year earlier, the Premier League saw the most injuries with Chelsea being the worst affected English club. Global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts symbol then 120 countries. I'm leann keren's, this is Bloomberg, Stephen. Leon, thank you. I mean, it raises the question about how much people's legs are worth again, which I don't think I can get into. Thank you very much for that. Round above our top stories. Well, let's get back to that dramatic intervention by the Bank of England to stave off an imminent crash in the guilt market. The pledge unlimited purchases of long dated bonds, the fallout
Caller: The Split Amongst the Republican Party
"Just wanted to call about the fundraising and all that you say are done and I wanted to talk about when the two biggest conservative talk show host in the country, I believe or as you and Shaun Hannity. And when you and shown kind of went your separate ways y'all don't agree on stuff anymore. And that's obvious but the peak that Shaun put up that you didn't agree with and by the way I agree with you. But my point is, what did that do to Conservative Party in that sale? How many people lived in the old daily and they've been split now? Well, go ahead. Well, what would you recommend that I do? So Hannity is out there and he is, it doesn't matter whatever president Trump says, he will follow. I'm just not that person. You know, I saw that doctor Oz was a flawed candidate. Supported abortion and Chris, I just, I got to tell you, man, I can not support anybody who supports abortion. Can't do it. And I'm and I'm with you there. I'm with you. Here's what I don't understand. Why would they do that if they want to win? You need to talk about Mitch McConnell, Kevin McCarthy. I wouldn't give a dime to the Republican Party because they are Democrats. They are Democrats. I vote. But why would I give any money to the Republican Party? Look what they've done to us. I'm 50 years old and my whole life are voting from 18. I've seen the Republicans what they've done. This is not a democratic problem. This is not. This is a Republican problem.
Today, Vote for Harriet Hageman & Kelly Tshibaka
"If you were in Wyoming today Harriet hagerman go out and vote for her Liz Cheney has got to go She has been a disaster although yes she has taken some conservative votes the most important thing she could have done is stop the government tyranny targeting Donald Trump and what did she do She contributed to it It was like a chia pet She put water in that little fertilizer on She did this Her and Adam kinzinger they've disgraced themselves and all of this BSO they did it on principle is crap None of this had anything to do with principles and everything to do with trying to find a pathway to relevancy after the Conservative Party cast you aside the conservative movement because they realized you cared about getting in front of the cameras rather than doing the right thing Same thing in Alaska We have a big audience in Alaska and Wyoming please get out today and vote no excuses Please Kelly Chewbacca over Lisa Murkowski vote Kelly and go to the next race Kelly Chewbacca super important Murkowski's got to go
Does the Conservative Party Have the Requisite Bench to Step Up?
"Used a very powerful phrase, government, mafia. We've just discussed the FBI. What else needs to be done? And more importantly, you're talking about having your person in place who's going to stop the leaks and everything else. Do we have the requisite bench cash Patel? Do we have enough people who actually believe in the constitution believe in one judicial system where all are treated equally to man those positions? I think we do. And if there was ever a shortage after last night's rate on Mar-a-Lago, I think we got a whole lot more. And you know, I say that half jokingly, but you pointed out so many people on the radical left are coming out and saying, wow, we just maybe handed it to Donald Trump in 2024. Think of how many people in the middle are actually going to be like, forget this bastardization of the constitution. I didn't sign up for this. I'm with you guys now. So I believe we have the bench in place. But what we also need is a righteous Congress to act. We need Kevin McCarthy to come in if he's the Speaker of the House or wherever, to come in and say, yes, not only were the investigate Merrick Garland the attorney general and the FBI director and the agents below him and the AAG is at the DoJ who politicized it. But we're going to hold you in contempt of Congress and prosecute you when you fail to abide by congressional subpoena. We are going to get the documents out at Congress that these agencies won't give us. That's the starting point. That's what we do first in November. And then we lead up to 2024 where we build the bench that we have and put them in the places we need to be.
"conservative party" Discussed on Bloomberg Radio New York
"To think about tax cuts. Liz trust is willing to do Big Bang tax cuts right away. If that means higher borrowing, so be it. She also wants to spend more on defense. She said she's not going to be cutting back on spending plans. So it's difficult to see how that can mean anything but a much higher level of borrowing, she hopes that will be paid for by improved supply side of the economy and improved growth. But I think that's more of a gamble. So I think that's the key split when it comes to economic policy between sooner and trust. Ben the Tory led coalition cut corporation tax, then Rishi sunak said we needed to increase it to pay the bills from the pandemic and now Liz trust is proposing to get rid of those increases to corporation tax. What are the costs of that policy? So as it stands in legislation cooperation tax is set to go from 19% to 25% over the next few years, this trust wants to scrap that rise. That will come at a cost of about 17 billion pounds per year in the near term. Perhaps less in the medium to long term as hopefully you just encourage more business investment and that will generate additional revenues. It's also important to emphasize that the headline rate of cooperation tax isn't the only thing that matters. George Osborne cut the headline rate of operation tax credit significantly, but he also squeezed things like investment allowances. So actually the amount of revenue raised didn't fall very much at all. Sunac has said, yes, I'm going to increase the headline rate, but he's been doing a consultation over the summer before he quit. The treasury into how we might refine investment allowances to better target incentives for businesses to put money into investment. Let's trust decisions about how that ought to be done. Okay, that's for businesses, but then the national insurance rise was so hard for hard fought over within the Conservative Party. And it was passed attacks both on employers and employees. Now it looks like it's back in question again. That's right. So it's only recently coming to effect. It's about 13 billion pounds a year at race. So if you want to scrap back, that's about how much it would cost, which take them together with the 17 billion for cooperation tax, means trust has promised that at least 30 billion of tax cuts. Now, it's important to remember that the national insurance rise was explicitly said that this is to help pay for rising costs of health and social care with an elderly population, about social care reform, package that was announced as well, the money for that is to come from this tax rise. If there's just wants to scrap that, it should also say I'm going to spend less on health and social care, I don't think that's been made clear and the key thing in the long term is the levels of tax and spending can not diverge indefinitely. If you want to have lower taxes, ultimately, in the end, you're going to also have lower spending and the questions that those kind of that should be, okay, what do you want to spend less on? Where are those spending cuts going to come from to fund those big tax cuts that you promising too? Ben I appreciate this is a tricky question, but is all this doable and I say all this talking about Liz trust's plans, how much fiscal headroom is the is it easy to have these tax cuts, can we afford it? So on the basis of the government's own forecasts in March, the government has two self imposed fiscal targets, I'll stay the details, but the headline is they had about 30 billion pounds of what you call headroom so they're going to meet those targets with about 30 billion pounds to spare. And that's why we had some candidates say they could afford 30 billion pounds of tax cuts without having to increase borrowing or without putting fiscal rules. Have a look around your home because your home feel you or does it feel you ten years ago. Maybe it's time to update your home with a fresh coat of beer, premium plus interior paint. Today, make your home feel more you, bear, the most trusted brand, ranked most trusted paint brand based on the 2022 live story research study. At risk. Now, that number could change quite substantially clearly a lot has changed since March, the economy is incredibly turbulent this year, and we don't know if that money is still going to be there, come the autumn because all sorts of downside risks. But let's trust us not only promised 30 billion plus tax cuts. She's also promised to increase defense spending and all sorts of other tax changes and reviews. She's thinking about. So I think that if we're being realistic, let's trust would have to change those fiscal rules in order to allow her to borrow more. Now, that's a reasonable people can disagree about what you probably love of borrowing isn't if she wants to borrow more than a new fiscal framework. That's fine. It should be transparently communicated. And it's a big question for the long term. What does this look like going forwards? Can these tax cuts help to boost the supplies iron growth that the economy, if that doesn't work, are we going to have to be looking at tax rises or spending cuts in the future? That seems very possible. And I think there's a little bit of a sense of what promised the big tax cuts now and hope that they pay for themselves in the long run. That feels like a bit of a gamble. Yeah, absolutely. A lot of people saying that the long-term economic health of Britain needs to sort of be prioritized and we had leveling up. That was the kind of main economic thrust of the Johnson term does that does that continue or not? Look, what does all of this mean for Britain's green agenda, the net zero economy I mentioned, green energy levees you've looked at in particular? Yes, so this trust is proposing a temporary moratorium on green levies, she hasn't been particularly precise about what that would mean, what would be what we're going to have a moratorium from and for what period. Currently, green loving got about a 150 pounds per year to the average energy bill. So you might think that if you think about a temporary 150 pounds off your energy bill for some period, that interacts awkwardly with the emissions trading system, they might not actually end up reducing overall levels of spending on energy at all rather complicated. But I think both candidates have committed to the net zero agenda. But if we're going to cut taxes, we also want to spend more on defense, we also want to perhaps protect the health service, getting to net zero is going to require some degree of upfront investment. Now we don't know exactly how much that needs to come from government, versus the private sector, but somebody needs to be spent up front. That will then yield savings in. The long run. And I think if you consistently want to be cutting taxes and environment offense, if anyone else says, where do you find the money for those things, things like investing in net zero, things like other less favored public services, things like leveling up agenda, and things like that. And that's all long term, isn't it? That's all long term, yeah. It is, yeah. There's clearly lots of people are very concerned about the immediate term. The new prime minister and Chancellor take office in a very difficult set of economic circumstances. The focus obviously going to be on the near term and the cost of living a particular increase in the energy price cap, this Ottoman winter, that I think that will be a very early focus. But it's absolutely right that we also want to see a longer term vision. I want to ask you about the cost of living actually. So the government has already spent a lot of money right on attempting to alleviate the inflation problem. How much is it spent roughly and what more could it spend on? What more of the candidates proposing to spend? Well, Rishi sunak has a Chancellor oversaw support package in a bit awkwardly done a bit done here in a bit on there. But it added up to about 38 billion pounds or so
UK Conservatives picking final 2 in race to replace Johnson
"Britain's Conservative Party has chosen Rishi sunak and Liz trus as the two finalists in an election to replace prime minister Boris Johnson The numbers of votes cast for each candidate is as follows mordent one zero 5 soon act one three 7 trust one one three In an announcement to lawmakers senior conservative Graham Brady declares that trusts and sunac will face a runoff to become Britain's next leader the race pits sunak a former Cheshire chief who steered Britain's economy through the pandemic against trust who's led Britain's response to Russia's invasion of Ukraine as foreign secretary The two contenders will spend the next few weeks campaigning for the votes of about 180,000 Conservative Party members around the country who will vote by postal or online ballot Charles De Ledesma London
"conservative party" Discussed on Bloomberg Radio New York
"Conservative leadership contest. He was knocked out in the third round of voting last night, Vichy sunak and penny morden retained the top two places in the latest Conservative Party voting with Liz truss in third dugan art thanked his supporters but did not give an idea as to who in the race he may be throwing his support behind. But please, I'm not going to be talking about any candidates at the moment I'll listen to what they have to say and I'll be making my judgment later. Thank you. Thank you for being with me. That was the conservative MP Tom token Hart, more ballots are scheduled now for today and Wednesday after which just two contenders will remain. Johnson, of course, return to parliament on Monday for one of the last times as prime minister for a largely symbolic confidence vote. Mister red headline hitting the Bloomberg here, this is on France offering EDF investors a €12 per share in a re nationalization. So that is just coming through the ticker here. They're planning to make an offer for EDF and that's coming from the French state. We'll see how the market absorbs this information. But here in the UK over there in the UK I'm of course in Dubai after many of us struggle with the conditions on the hottest day of the year. Forecasters believe that today could be even warmer. The Met office is expecting highs of between 41 or 42°C and some regions, the high temperatures have left the UK's infrastructure struggling to cope with train lines running at limited and slower service. Kevin groves from network rails at the services can't be blamed for the impact. It's the same for railways across the entire world. They set up their railways and engineer their railways for their normal climate. But when there are peaks either at the bottom
Successors to Johnson seek to stand out in crowded UK field
"Contenders to replace outgoing UK prime minister Boris Johnson are lining up as Conservative Party officials prepare to quickly narrow the crowded field of almost a dozen candidates and 11th candidate has entered the running to become prime minister little known minister Rahman chisti is up against more heavyweight contenders such as foreign secretary Liz trus treasury chief and him sahai and former health secretary says E javid and Jeremy hunt the new leader will be chosen in a two stage election British politics analyst Tony Travers believes many candidates aren't actually vying for the top job It's a mixture of some who genuinely think they can win or want to win and think they can win And others who are positioning themselves wanting
"conservative party" Discussed on WTOP
"Officially resigned as leader of the Conservative Party after a series of ethics scandals and finally an intraparty revolt. Johnson says he will remain on as prime minister while the Conservative Party chooses his replacement. This morning CBS correspondent Ian Lee from London talks about why Johnson finally caved into demands that he resign. He really was brushing off a scandal after scandal, but the knives were out. He remembers of his own party told him. It was time to go. There was an avalanche of resignations from within his own cabinet. And so the writing was on the wall, but it really was this last scandal within a member of his own party who he had appointed, but had previously had a allegations of sexual misconduct, prime minister Boris Johnson said he didn't know about it, but it came out that he actually did know about it. And that was really the final straw that got his party to revolt. And we saw him step outside of Downing Street and tender his resignation. Ian, what happens next? We know that all the conservative lawmakers are eligible to run party officials could open those nominations any time now. Who are the possible replacements for him? Well, there's a lot of people who are chomping at the bit to get to that top position. And really, when you saw the prime minister under fire, a lot of them were kind of positioning themselves to get into that top position like Dominic rub. Maybe Matt Hancock. There's a lot that are vying for that position. But what's going to need to happen now is there's going to be a number of ballots casts and the top two people who get the most votes within the Conservative Party in parliament. Those names will go to the party in general. And then they will vote for the person that they believe will lead not only the party, but also the country. That could happen probably around fall sometime by fall, but the interesting thing is Boris Johnson, when we listen to his resignation speech, he was a defiant man. He's likely not to go out quietly. He does lose his premiership, but he still a member of parliament and he could make things difficult, although he did say he will support the next prime minister. Talk a little bit about the instability that the springs to the British government and whether the conservatives are in danger now of losing their majority. Well, they have not been very popular of late. They've lost seats that had been traditionally held by the Conservative Party, but they lost them to the Labor Party. They've lost them to other parties. And so there was this revolt among the people that they were unhappy with the direction of the Conservative Party. And right now, the UK is dealing with a lot of things in the United States is dealing with high inflation. They're dealing with trouble getting gas, gas prices here are far higher than in the United States. And so people didn't want this distraction of a prime minister. They wanted a party that was dealing with the issues at hand. And I think that is a big part of the reason why a lot of the people started to revolt within his party that they said four Johnson has become a distraction. We need to focus on what are the issues that the people are most concerned about. And just talking to people here in London, that's kind of what people are saying is that they want the Conservative Party to focus on the issues and not be a distraction, although it's going to be an uphill battle for them. They are unpopular
"conservative party" Discussed on Bloomberg Radio New York
"Is clearly now the will of the parliamentary Conservative Party that there should be a new leader of that party and therefore a new prime minister. He says it is disappointed because he still has a lot to do now Bloomberg's guy Johnson says the system has a number of steps. You are going to get the parliamentary party of the Conservative Party the Tories whittling down the candidates to two. Those two candidates will then be put to grassroots members of the Conservative Party who will ultimately decide who the next prime minister is. This is a parliamentary system. That's how the process works. But how quickly that happens remains to be seen in theory it could happen relatively quickly. In theory, we could have a replacement for Boris Johnson by the end of August. But lord Kim Derek, former UK ambassador to the U.S. says there's growing concern now about the timeline. It's already clear that quite a lot of conservative MPs are not happy with how long this will take and with the implication that Boris Johnson could continue to be prime minister through the rest of July through all of August into September. And they think either it needs to be speeded up somehow, or maybe a different process completely, but this is still to be played out, and we will know a lot more after the 1922 committee meeting on Monday. Yeah, that Monday, the commission meets to set the process into formal motion. Yonhap is reporting ruling people power party has suspended the party membership of leader Lee Jong shock on allegations of sexual bribery and cover up a move that could throw the party into some form of turmoil. China's criticized India's prime minister Narendra Modi along with U.S. Secretary of State Antony Blinken for a phone call that conveyed birthday greetings to the Dalai Lama on his 87th. The China's foreign ministry says that both need to abide by commitments to China on Tibet related issues and stop interfering in China's internal affairs. U.S. senators Richard blumenthal and Lindsey Graham are in Kyiv. I'm saying more military aid the higher the chances that Ukraine can win the war. Strangle the Russian economy, help the Ukrainian military
One scandal too many: British PM Boris Johnson resigns
"As prime minister Boris Johnson announced his resignation many UK citizens were relieved he is finally stepping down After three tumultuous years in power Johnson has succumbed to pressure from his own cabinet and party to give up his position I know that there will be many people who are relieved And perhaps quite a few who will also be disappointed Indeed on the streets of London many were relieved to see Boris Johnson leaving no 10 Downing Street even Conservative Party voter Susan palm was happy to see him go Boris has to go He's a disgrace Investment banker he met Delhi way said it was about time Johnson accepted the feat By the end of the day it seemed like he was just going to keep on but I guess he's figured it out that it's time for him to go Big issue magazine vendor Frank Thomas was worried about what the future now holds for Britain after Johnson's departure I don't think things will get better for a long time Things have to get really really worse before they get better Karen Chammas London
UK Prime Minister Boris Johnson announces resignation: 'Them's the breaks'
"British prime minister Boris Johnson has announced his resignation after a mass revolt of top members of his government It is clearly now the will of the parliamentary Conservative Party that there should be a new leader of that party and therefore a new prime minister The prime minister spoke outside of number 10 Downing Street amid a chorus of cheers in the occasional boo as he admitted that his party wanted him gone In politics no one is remotely indispensable Showing his usual charisma that helped him to get to the top job Johnson explained he didn't really want to go I want you to know how sad I am to be giving up the best job in the world But them's the breaks After three tumultuous years in power the brash 58 year old politician who took Britain out of the European Union and steered it through COVID-19 and
Boris Johnson says he has appointed new Cabinet while he remains as UK prime minister until a successor is chosen
"British prime minister Boris Johnson is to resign following an unprecedented political crisis over his future an official in Johnson's Downing Street office has confirmed that the prime minister has agreed to announce his resignation Johnson had rejected calls from his own cabinet to step down over several ethics scandals He gave in after more than 40 ministers quit his government and told him to go It was not immediately clear whether Johnson would stay in office while the Conservative Party chooses a new leader who will replace him as prime minister Karen Chammas
UK's Johnson vows to stay in office after top ministers quit
"A defiant British prime minister Boris Johnson is battling to stay in power after his government's rocked by the resignation of two top ministers Johnson's first challenge is getting through the day where he faces tough questions in the weekly prime minister's questions session in parliament and a long scheduled grilling by a committee months of discontent over Johnson's judgment and ethics within the Conservative Party has erupted with the resignations of treasury's chief Rishi sunak and health secretary Sajid javid within minutes of each other on Tuesday Johnson quickly replaced the two ministers but a string of other resignations show the dangerous Johnson is far from over Charles De Ledesma London
UK Conservatives lose 2 elections in blow to Boris Johnson
"British prime minister Boris Johnson's leadership of the Conservative Party has suffered a heavy double blow as voters have rejected the Tories in two special elections In the southwestern constituency of tiverton and honiton the centrist liberal Democrats overturned a 24,000 conservative majority to win while the main opposition Labor Party reclaimed Wakefield in northern England the contests triggered by the resignation of conservatives hit by scandals offered voters to chance to give their verdict on the prime minister Just weeks after 41% of their own lawmakers cast their ballots against him the party's chairman has quit after the results early Friday saying the party can not carry on with business as usual Charles De Ledesma London
Weakened UK leader Boris Johnson survives no-confidence vote
"British prime minister Boris Johnson survived a no confidence vote from his Conservative Party Johnson has had trouble shaking off revelations of boozy parties by him and his staff in 2020 and 2021 that flouted coronavirus restrictions imposed on others What we're going to do now is take the opportunity to unite and deliver But a growing number of conservatives feel Johnson is now a liability who will doom them to defeat in the next election The opposition agrees The British public are fed up fed up with a prime minister who promises big but never delivers Keir Starmer is head of the Labor Party Fed up with a prime minister who's presided over a culture of lies and law breaking at the heart of government Johnson's margin of victory was less than predecessor Theresa May's vote in 2018 She was forced to resign 6 months later I'm Ed
Canadian Parliament Member Respontds to Trudeau Attack
"BEE dot com slash hi everybody. Dot com slash prager. I think while I had prime minister Steven Harper previous prime minister of Canada on the show and I did a PragerU interview with him at one of our gala events, but I've never had a member of the Canadian parliament on the show. So let me introduce Melissa alliance. She is a member of the parliament of parliament in Canada. And she is a woman of courage, let me give you an example. February 2022, I reported this, by the way, on the show. In response to a question raised by Melissa alliance regarding the usage of emergency act the emergency act, prime minister Justin Trudeau replied to her by stating quote. Conservative Party members can stand with people who wave swastikas. She's a member of the Conservative Party. In response, Melissa Lance been stated I am a strong Jewish woman. And a member of this house, and the descendant of Holocaust survivors. I have never been made to feel less except for today when the prime minister accused me of standing with swastikas. I think he owes me an apology, I'd like an apology. So folks, even if you're not into gambling, what would you bet? That Trudeau apologized or not. Also she has been fighting. The man I consider bringing Canada to be more like Cuba than any other North American example. I wrote about that few months ago. She's been fighting his COVID dictates. And supported the Canadian trucker protest, again a member of the parliament of Canada. So Melissa lancement, you're a woman of courage, so I have a question that is nothing to do with the philosophical question because it's one that I think about a lot. Why are you courageous? That's a really that's a really good question. I think there needs to be somebody that stands up in this parliament for common sense, you know, whether it be against deployment minister that is othered in entire part of the Canadian population and in one who shows his true colors on the floor of the House of Commons or whether it's the everyday things like the nonsensical restrictions and vaccine mandates that we are still clinging to in this country. I think somebody has to be courageous and I figure that I'm already here. So here's a theory and then I'll get to the specifics of Canada in just a moment. I think I've asked this to all courageous people. And I think that people like you almost have no choice, it's almost like saying to somebody, why are you a righty or a lefty? I just am. And of course there's an element of choice on whether to be courageous. So anyway, thank God you exist. That's my bottom line. So first of all, I'm
PM Boris Johnson Faces Vote of No-Confidence
"That's right, 54 members of the Tory party. Now the way it works in Great Britain, they're not going to an election just a bunch of the members of the Conservative Party have had it with Boris, and they send letters to something called the 1922 committee or the committee on 1922 or 1922 something or other. And the senior member of the party is the chair of that. And when he counts 15% of letters demanding a vote of no confidence, they have a vote of no confidence. And so Boris got hit with that this morning. The magic number of 54 was greeted. I think some Tory members of parliament were watching Boris get booed on his way into St Paul's Cathedral for the platinum celebrations yesterday and they said, you know, we're going to lose a couple of by elections this month and we're going to get crushed if Boris is the leader. So we better dump him now. We still have two plus years left and the majority we can get ourselves a new prime minister,
"conservative party" Discussed on Bloomberg Radio New York
"That's what we don't know They've got this minimum threshold of 54 letters calling for a vote of no confidence that needed to be reached to have this vote tonight But we don't know how far beyond 54 there at And it could be made up of all sorts of different clicks And that's what will be interesting to find out how many people are against the prime minister How bad is this situation for the Conservative Party Because now you've just got to this point where they clearly have realized that Boris Johnson might not be the vote winner that they thought he was in 2019 Lizzie how much is this micro issue versus a macro issue In other words how much is this about party gate and the hypocrisy of saying everybody has to stay home for the holiday and not see their relatives while he holds a party in a garden during the peak of COVID versus people being angry about where inflation is People being angry about their costs of living But it's been weeks and months of speculation of when we were going to get this vote of no confidence I think the party gate scandal and the report from civil servants to grey has been the straw that broke the camel's back For most people it's the cost of living crisis that's really painful for them You've got surging inflation in the UK But let's not forget this goes all the way back to pest minster scandal again and again of sleaze reported in Westminster So it's been one thing after another that has got us to this moment today A skating letter from Jesse Norman the conservative MP Lizzie and I'll share some of it with our audience You are apparently trying to win port elements of a presidential system of government that is entirely foreign to our constitution and law but you are not a president and you have no mandate other than as an MP and from the confidence of your colleagues Lizzie just frame how vocal how public some of this has.
"conservative party" Discussed on Bloomberg Radio New York
"So much Steven for those top stories So we are expecting Chelsea Vichy soon act to set out a support package to help struggling Britons according to a Conservative Party official The government has been under persistent pressure for months to announce extra help to alleviate the cost of living burden There have been particular calls to introduce a windfall tax on the large profits of oil and gas companies to pay for extra support This is something the prime minister has so far resisted saying that it's out of sync with his conservative values On Bloomberg Westminster yesterday we were speaking to Ross dornan whose market intelligence manager at offshore energies UK Now they represent Britain's oil and gas and offshore energy industry Now I began that interview by asking Ross if there were a windfall tax in fact to be announced what might be the ballpark figure I think just to set some context and this is an awful situation right up and down the country We have so many people who are really struggling with the cost of loving the situation Which is largely being driven by high energy prices around the world So rightfully they have a focus on a full ability at the moment And our industry is as though to know is helping to contribute towards this situation in terms of overcoming these challenges We're only depicting significantly more tax as a sector We're taxed at a rate of 40% as a headline rate which is more than double that of course other parts of the economy And within this country we are paying more tax about 8 billion pounds this year That's 20 to 25 million pounds a day in taxes which is double what we paid last year and 20 times will pay the year before that because of the high prices and the extra profits that companies are making So we're paying more tax We're increasing investments And we're also providing valuable jobs to 200,000 people up and down the country So alongside the focus on affordability we need to have a think about a real careful think about energy security and sustainability into the future And to achieve those aims we're going to continue to see massive investment across the economy and the government's office for budget responsibility Think that actually something that each of 1 billion pounds is going to need to come from the private sector and the coming decades and to track that wave on investment companies and invaders would have to have confidence in the UK And I think knee jerk fiscal changes like what's being proposed won't be positively viewed by investors and that could I think in time undermined the confidence investors have and their ability to work in the UK economy and help develop the energy supply and energy supply and emission reduction systems that we're going to need to see for the decades to come Ross it will be fair to say that there has been an enormous windfall for the sector that the tax is called that for a reason you know the back end of last year Brent crude was at $75 a barrel now at a $115 a barrel and that is money not for the investment you've done It's not money for hard work It's just it just happens to be a windfall that the sector has landed in the sector's sector's lap Some of our member companies you mentioned some there are have reported higher profits in recent months 6 months or so After the recognize a couple of things around that is within the UK these companies the profits are reporting are generally global in nature And the UK is often only a small proportion of those businesses by the 5% of the global oil and gas production coming in the UK So the level of profits we're talking about are largely being taxed in other parts of the world already Those are the things really difficult time this industry has had in the last 5 years We've come off the back of really low commodity prices where the UK industry has been marginal at best And some of the household names who have reported large profits in the last 6 months just back in 2020 40 some of the largest corporate losses ever seen in UK corporate history So we have to take that into account when we're looking at looking at company positions But also as these companies are making more money because of the way the tax regime works in the UK oil and gas industry They are paying more taxis They're paying more than double this year than what they paid last year because they're making more money That's a win for coming to treasury And over the next 5 years they're actually predicted to be something like 13 billion pounds more than the previous forecast because of a higher commodity prices That's a win for that's already coming to treasury The government should really think about how they want to direct that to help ease the cost of I think places So if that was Ross dawn and the market intelligence manager at offshore energies UK putting the industry case saying you don't want to put off investment in the UK by sticking a windfall tax onto oil and gas companies effectively And that's one of the key elements we'll be watching out for when this package is as expected to be announced later We know that those big support from the SNP from labor.
Australian prime minister concedes election defeat
"Australia's center left opposition party has toppled the ruling Conservative Party after almost a decade in power I am humbled by this victory And I'm honored to be given the opportunity to serve as the 31st prime minister of Australia These are the words of new Australian prime minister Anthony albanese his victory speech also included promises of sharper reductions in greenhouse gas emissions while he faces an early foreign policy test outgoing prime minister Scott Morrison said he accepted the will of the Australian people In Australians and their judgment and I've always been prepared to accept their verdict and tonight they had delivered their verdict and I congratulate Anthony Aberdeen in the Labor Party and I wish him and his government all the very best I'm Karen Chammas
"conservative party" Discussed on Bloomberg Radio New York
"National insurance buys comes in fourth from this April a lot of people are angry about that both in the Conservative Party and on the labor centers It's there to fund remember the kind of backlog in the NHS caused by COVID and finally that sort of injection of financial support for social care So I don't think he's going to grab the health and social care There have been lots of people for that But I think he will modify it So for example I do think he'll raise the primary threshold or when you pay national insurance and the health and social care that be It's just above 9000 at the moment which is obviously a lot lower than the threshold for paying income tax But expect it will raise that But don't expect huge things I think there will be hugely the national insurance rise They will be the main thing and hear from the chance as well that things are so volatile at the moment particularly with energy prices But who probably wait to see what his port package which announced in February will do before announcing anything further in the budget in the autumn I think Yeah because the Chancellor said that he wants to be a tax cutting Chancellor yet tax rate at the highest since the 19 50s So as you say this is a very difficult moment with a great deal of pressure on this Chancellor who managed to navigate the pandemic with a great deal of help for households Now the expectations perhaps are also going to be high that the government can do something about what are global oil and petrol and energy prices going up Yeah I mean it's really interesting because the chance that I've never seen a chance to like this who says one thing and does something very different so in many ways these sort of wanting to be quite higher in his approach to economic We have to have stronger fiscal discipline We need to keep inflation under control But his response to COVID and his response now is quite easy He's looking to increase the size of the state As you say taxes are at the highest level He's going to use a mix of tax cuts and subsidies today I think to help people through the cost of living crisis back in the autumn you know even with the level of the deficit that we did we still announced through the spending review year on year increases in public spending across different departments kind of ruthless commitment to keeping down public finances and low taxes but yet actually he's following a course which is expanding the size of the stage and increasing taxes So yeah and the other thing of course is he's talking about security Big buzzwords today provided secure family But as Martin Lewis the pounds of money stay there but nowhere is there's no way enough which has been given by the government to support people with inspiring energy prices So I do think the chance there needs to be careful here because he often says things like I'm attacked cutting chants there but yet is overseeing the biggest the sort of highest tax burden that the UK is based for a very very long time So you know I just noticed there's a bit of disconnect between the rhetoric and the action with this chamber Also how much progressive.
"conservative party" Discussed on 77WABC Radio
"It happen Mister speaker Conservative Party members can stand with people who wave swastikas They can steeple he waves swastikas Senator I don't see a lot of truckers waving swastikas and the truckers have said we reject this This isn't who we are This is a new way This general smearing Of the truckers Who were celebrated two years ago in the middle of the pandemic As our nurses were celebrated as our cops were celebrated three years ago As others were celebrated going into the face of the virus Without vaccines without Therapeutics making sure we were fed and protected and medicated and so forth Now they're the enemy Now the enemy And she responds one more time senator this way cut to a go I am a strong Jewish woman and a member of this house in the descendant of Holocaust survivors and I have never made it's never been singled out and I have never been made to feel less except for today when the prime minister accused me of standing with swastikas I think he owes me an apology I'd like an apology and I think he owes an apology to all members of this house What do you make of all this senator First of all I'm thrilled that they're pushing back and I'm thrilled that he got called on the carpet on this This guy is abusing his power He's abuse and the concept of what he's accusing them of and therefore don't think this senses of everyone around him But fortunately he's been called on the carpet And this is the guy remember Who repeatedly dressed in blackface in a really really a sense of what This is not a super sensitive guy He is not shown to same extreme courtesy that he demands everyone else show him He's overreached this time Look that thing's happened When we're asked to trust the government and we're skeptical of people As my wife always says you do to trust people and be skeptical of government When government tries to turn it around on you that's where bad things happen All right my friend I appreciate you doing what you're doing in the Senate and elsewhere you are a voice of liberty And if people want to help you and Utah and your reelection where do they go They go to leave for Senate dot com And I can especially use the help right now I've got two primary challengers and an independent and a long line of Democrats lining up to vote against me They don't exactly appreciate my constitutional conservative vote The same way your listeners do We're going to win but we need your help And again what is it Lee for Senate dot com Pretty easy Lee for Senate dot com leave for Senate dot com Folks I hope you'll do everything you can to help this man in his reelection effort There's all kinds of dark money out there and it rarely backs our candidates Take care of senator and thank you again Thanks so much Good to talk to you Mark All right you too Mike We'll be right back.
"conservative party" Discussed on Bloomberg Radio New York
"An actual fuel shortage The only real tool left that toolbox after deploying the army would be to relax driving hours driving our rules to drive Alex there is a view among some that Boris Johnson are going to as this Teflon kind of characteristic when it comes to these crises Is this likely to do damage to the prime minister and the ruling Conservative Party longer term What are we seeing in terms of the political impact I mean it's a cliche right He's a terrible politician but Boris really is He seems to coast through and these crises unharmed I think you've taken a slight dent in the polls but the government seems pretty confident that this crisis is going to abate in the next few days because people have been filling their tanks and you don't really have anywhere else to store fuel other than your car's tank So unless you're driving around to use it up The problem abates it's not like the toilet roll crisis last year where people could buy limitless amounts of store them in their homes So the government thinks it's going to they're not even going to need these drivers in the current standby And I guess it is another of those storms that it's going to weather But it's clearly not a good look for any government to have these huge queues at petrol station Yes and we're heading towards the Tory party conference starts at the weekend doesn't Alex so certainly something that we'll focus minds Bloomberg government reporter Alex Morales thank you very much for that Still ahead on Bloomberg daybreak Europe will speak to Bloomberg opinion columnist Andreas clues about who will step into Angela Merkel's very big.
"conservative party" Discussed on The Big Story
"The heart and soul of the conservative party of canada as stephen harper's created the reason why he's so careful not to alienate the basis. Because he understands that if he does the blue liberals that he might win over won't donate as much money won't knock on as many doors won't push hard To support the party in. It's it's a really difficult trade to making no trade five ultra enthusiastic people who donate a lot of money for twenty five people who are sort of indifferent but will support you if you moderate And so i think you know after the next election. let's say the liberals have a majority they have four years to build a new coalition. And i think they there needs to be a more profound assessment and reflection on what it means to be a modern conservative party and where that support is going to come from in. I'll give you out. I'll give you an example that the young demographic that i think conservatives have tended to write off traditionally. i think there's lots of opportunity for them there You know if they can get their heads right on climate change in the housing issue. There's a lot of real estate for them to chew up on that front. I think certainly among new canadians. There's there's a great opportunity there if if if they're willing to again abandoned. Some of the the nuttier stuff. They've embraced in recent years snitch. Lines and anti facial covering policies and and beliefs. But that's a big break from the party that they've been Over the last twenty years. And and i think something more like the progressive conservative party of brian. Maruni is what will work in. Two thousand twenty maroon was actually quite ahead of his time on on the environment on civil rights on apartheid in south africa like that. That is a party that would work in my opinion. But as long as it remains beholden to a sort of western grievance based culture in alberta. It's never gonna get anywhere in quebec ontario. And if you don't get anywhere in quebec antero you do not win elections in this country. That is just the math of the situation. How do you get there. And this is a practical question. More than a strategic question. How do you execute that kind of pivot as a leader and as a party does o'toole just walk into this coming campaign. Let's say that they have some internal data that supports the move. That you just discussed does o'toole walk into this campaign and just start talking more like a moderate and start saying that the base doesn't reflect the conservative party and kind of deal with the fallout. Or is it something more official like back in the days when conservative parties would fracture and then unite and etcetera etcetera. Yep i mean my my gut instincts and i have no data to support. This tells me that they. They need to to trigger a break. They need to. I love using this metaphor. But it's a good metaphor. They need to remove the cancer from the party. If the body is going to survive the cancer needs to die and the cancer is that sort of rural prairie anti climate change anti immigration anti progress faction and. Yeah the the lose some seats there but they can still run the table. In calgary and edmonton calgary are actually much more progressive than people. Outside of elbert has seem to think they they could win many seats in and around those cities and in if they lose ten or fifteen rural seats and pick up thirty or forty in ontario and quebec that seems like a darn good trade to me but that will require courage You know..
"conservative party" Discussed on The Big Story
"It has gotten them to election losses so far and headed for the mother of all election. Beatings this year the big story. We'll be back in just a minute. Do we know much about who is in that pool of accessible voters or who's traditional support. The conservative party has and has lost to find themselves in this fix because to me to me. The conservative party has always been a party with a relatively high floor and it seems like that's kind of slipping away and regardless of who you vote for in canada The lack of a second high floor party to hold the liberals accountable is not a great thing. Though i agree The liberals are at their best when the conservatives are at their best and vice versa canadians. We need a robust and ineffective opposition. And there's a non zero chance that after this election is over that opposition could be provided by the mvp. And maybe there. We are in the middle of a secular shift in canadian politics. Where you know. The conservative party fades into the position. That the ep once held and the mvp becomes the sort of viable contender. That trade off with the liberals this has happened long ago in our past. It's not inconceivable that something like cova which was a once in a lifetime we hope Thing would sort of trigger the same sort of reorientation but there's a very interesting poll a couple of weeks ago that it's segmented by age demographics and the conservatives were losing in every age bracket and you know it's not surprising that there behind the liberals and the mvp among young people but for them to be behind among older people. You know fifty five to sixty four is astonishing because that was always part of their base was older canadians right. And i think you can draw a very straight line very very bold very dark font line to cove it..
"conservative party" Discussed on The Big Story
"You're listening to a frequency podcast network production at this point. Conventional wisdom is that we're talking about when not if we get a federal election this year and that means it's time for the polling firms to start getting to work in earnest. I will spare you all the numbers because most of them are the same and because our guest will explain them much better than i can. All you really need to know that the current polls are almost universally bad news for the conservative party and its leader erin. O'toole the ipsos poll shows. If an election were held today the liberals would receive thirty five percent of the decided popular. Vote up two percent. From last month the conservatives led by erin o'toole stand at twenty eight percent down two percent o'toole replaced andrew scheer after sheer failed to bring home a winnable election and he was supposed to bring a more moderate approach to a party that has recently struggled to attract neutral canadian voters and he has tried but the numbers show. It isn't working. Why how much of this can the conservatives blame simply on the pandemic. how much can they blame on. Oh tools job as leader and how much of it is just a bad situation. Are the conservatives stock between a rock and a hard place between an angry base that hates justin trudeau and the tone that they would have to adopt to attract voters who don't really hate trudeau but are open to an alternative. The election so far has not been called. The campaign has not yet begun..
"conservative party" Discussed on Poutine Politics
"Oh you joined up. He joined us. Did you I I? Guess I did named? Of only for one year I, only had the one year membership and I'm sure they're gonNa send me a whole bunch of male. That's the next year. That's like Oh you gotta put your membership and you've got to come back and I'll be like. No. This was very specifically like a Social experiment is not the right term for it, but would with lack of a better term. That's what I. That's what I'm going to call it a little bit of a social experiment. So because I registered on time. I have in my hand right now. A ballot for the leadership election for the Conservative Party of Canada, so what I thought I would do is I thought I'd fill it out. While we're talking. Based on our being head. Then I'd be implementing your vote. The already knew. Exactly I already knew who I was GONNA vote for. No, don't do it. I can't have too much to live for. So I think based on are based on the conversation here part of me when I got this ballot was like you know what I wanted to be. Really funny and I wanted to say you know what I think. My first choice is going to be Derek. Sloan and then I realized that I can't do that. In good conscience I can't do that. So. Yeah exactly. It's like normally under these circumstances. He would be my fourth choice. Now it does say fill in no more than one oval per candidate You don't have to you. A ballot is valid at if at least one candidate is selected, so I don't even have to select him serve. He's not going to get an oval at all. which which leaves me with the other three choices? Which I think you're right? I think Peter Mackay would definitely be the first choice. But it was kind of it. Was that difficult decision between the other two? Unless you don't want Peter, Mackay to run against you because you're worried that he might actually win. They own AL I. Know you know what if I I still think even at this point that if the election, let's say if an election happened in the fall because the two of them in particular McKay tool have been saying that if if they become the leader that they're going to push for an election in the fault, and you look at the situation as it is right now and I tried to push election the the list absolutely. If this lake? What are you doing? If you're trying to recover from endemic galway right, and if they decide to wait till next year, they have a better chance of winning but I'm still I'm still of the mindset that I don't know if Trudeau is going to be the leader after the end of this year. That's very distinguisher. Yeah, you might have to step down. He monette phones or I don't even I. You know I don't know if it's GonNa I. Don't know if it'll necessarily fall sword situation..
"conservative party" Discussed on Poutine Politics
"Yeah, I mean on the one hand I. Don't necessarily want to do this, but on the other hand. It's going to be so much fun. Back to Putin politics Canadian. Issues of Richie's skirts. My Name's Adam is Mike, and in case you weren't aware. There is an election coming next month. What. kind of what kind of election would that be? I have no idea who's election there. There is an election next month it is for. The leadership of the Conservative Party of Canada. Oh Jesus Murphy. Can Care less about this. Is My off that that I could care less about Based Bill Baseball all right. Yeah, exactly I knew on the one hand that you're going to be like really. We have to talk about this. But I think by the time we get to the end of this. You're going to realize that it was good fun. Coincidentally Fun all right, okay. So. Break a couple of things down here so I'm not going to go into all the details. Well I guess I'm not GonNa, go into all the details of what happened to get to where we are now. Because really that doesn't matter where we are now is there's four candidates. Probably only two of them are really serious. You could add a third one in there, and there's one that's right out to lunch, but you know. Maybe, we'll have some fun with the guy that's out to lunch house that. Him and that's Peter Mackay. Lynch. Okay so so four candidates. are Peter Rookie Aeronautical. Leslie Ann Lewis and Derek Sloan I look at the four of them and I kind of think. None of them really inspire me. So I figure whatever election we have next is probably going to result in another liberal win. I would think unless something absolutely blows up. Which you know! The Conservatives are obviously pushing really hard for the we scandal to blow up and and. I don't think you like liberals and win by that much beforehand and cheer was terrible if it's if it's an election soon know. If, it's later I don't think liberals want I think if I think if the election doesn't happen in the next twelve months. It's possible. That tro is not the leader in the next election, but that's not what we're here for. We're here talking about here's Doug about the Conservative Party of Canada and their leadership election, which is next month. Okay, so what I wanted to do, because thankfully on the wikipedia page about the leadership election, it does have a table of each Let's say hi. Level issue as it were, and what each of their positions isn't it and so I? WanNa pick a I want to pick some of the stuff that. Maybe seems like the most important or the easiest to talk about I'm not going to go over every single every single issue that they have listed here. but the maybe the ones as well that have come up. Whether it's in the news or social media or so on and so forth so they did the list in alphabetical order, so I do apologize for that because the first, the first issue on the list is abortion, because apparently, that's important again not before. Yeah, whatever it doesn't matter it's. No they should. It shouldn't what what exists right now doesn't need to change, so you know what I don't even I don't even want to cover it anymore. Cover it okay, so we're going to get into the business, so they label this as the business issue..
"conservative party" Discussed on NewsRadio WIOD
"General do not give information he was guilty of a crime that's the way it works is you the United States constitution no Chris is ever claim the right to stone will Congress and everything Democratic Party not unless the Democratic Party is a center or center Conservative Party eighty six days presidential from border to border see to shine the for our final news roundup and information overload in the final hour of the Sean Hannity show I thank you need only one thing we when it's our news roundup information overload our and it's Wednesday and that song plays on only means that the simple as guy he will tell you he is a simple man is.
"conservative party" Discussed on Poutine Politics
"Release there is the uncut versions of the episodes so there are certain items that may drop out of the versions of the episodes that we release the regular platforms So if you're interested in listening to those all it takes as little as a dollar a month donation and you can get some of that additional information from us that's all the self promotion for now those uncut episodes probably are helpful for the platforms where you're cutting down fifty percent you talk about yeah that's true case in point last week's episode on the Liberal Party Platform Ended up about thirty minutes shorter after we cut out some of the things that we talked about or just to try and get it into a concise platform that's a little bit easier for people to listen to so there is some additional information in that uncut version that people might be interested in let's get started before we dive into specifics general over you of this platform what do you think I think this platform has a lot in it that is very good some of the things they're not my point of view but I can respect them if I'm making fun of it I would say it's a pearly Conservative Party platform what do you mean by that there are things hear that when you think of little see it's kind of going against little Caesar there's extra levels of certifications or just things that they want to add to the government that we don't necessarily have that I don't know if we need but from my perspective uh-huh probably is a good thing yeah I mean I know there's a section in here where they mentioned we're going to reduce red tape and we're going to reduce regulations but then and they also say but we need to create these regulations over here yeah exactly I know so the platform comes out and you have Justin Trudeau. going around saying you don't release your best work on a Friday before the holiday it doesn't exactly work that way generally speaking you release bad news news that you don't want to discuss you fire people on a Friday afternoon you fire people on Friday afternoon yes you tell you talk layoffs anyway I don't think that fit in this scenario because interest here is still going to have stops the media are still going to ask him questions about it in a way this is actually a good under release it as much as I don't like it because it's so late your nine days out so your platform is going to be talked about for the majority of those nine days and people are going to be talking about it at home over Thanksgiving yeah exactly that's not a bad thing it seems like a good political quote unquote ploy to do it that way because of the fact that not only is it on people's minds during Thanksgiving weekend but it's like it's the most recent thing in people's minds leading in into the election week I guess as it were as a whole it could give them an advantage in numbers in the sense that now that our information is front of mind maybe more people will vote for us because it just triggers something in their head that conservative that's it yeah yeah there are things from the Green party platform that I cannot remember because it was as early as well and the Andy Platt from was released in June they only they only just released their p Okay costing some time in the last week as well as it might have been Friday as well yeah yeah they're platforms out since June now now I can start going right yeah let's get started on all right so the first item that the conservative platform starts with is this universal tax cut on the one hand I'm okay with any reduction in taxes on the other hand I guess in comparison to the liberal Oh plan for increase in the basic personal exemption this one doesn't have a dollar amount limit to it it's just a reduction of the first tax bracket it's GONNA help people and it's certainly going to help people in the lower and lower middle income classes most as a percentage of their income but this does reduce taxes for everybody right so for that single person that is only earning let's say thirty five thousand dollars there are only saving four hundred and thirty seven one dollars but that millionaire is saving the full amount on that forty seven thousand right so you're helping the millionaire yeah that's a smaller percentage but do do you need to help the millionaire and yeah exactly and that's and that's where I said that as a percentage of income the lower income person's gonNA feel it more they're going to be the benefit more but the benefit doesn't need to go to the person making yeah a million dollars I've like without disclosing my income I'm not the kind of person that means tax cut again the less taxes I have to pay I feel I'm fine with that but I don't feel like I need this benefit we're both in the same situation where I don't feel like our family needs yeah tax break in this since when I was earning less yeah just wonderful absolutely repeal the carbon tax we knew that that was going to be on their list I'm going to skip that when we talk about that one removing the GST from energy bills I like this idea yeah that's fine it like they say in the platform it's a necessity we have to eat uh-huh we live in Canada okay this well it does say all home energy for primary residences yeah okay because the reason why questioned is because they say heating your home is not a luxury it's a it's a necessity and it's like well that's just heating so yes okay we're going to be picky thing as much as I think this is a good idea that we should just do this I latch onto the use the word luxury yeah and go wait a second who has more heating bills the have giant homes so so it is helping everybody is something that we should do but you know it was just something that was funny there's any of things in the platform to make me go I don't know if they read this three times over and thought about it from a different perspective right the only other reason why I looked at it and said is this necessarily a good idea is that we look if we want to look back and I know let's not I'm not going to be like harper bad but you know the the previous conservative government reduced the GST by two points and just on that alone before the two thousand eight recession we went from having a surplus that we could use to pay off the debt that everybody's complaining about now again and essentially went to either a just barely balanced budget or a bit of a deficit and then the two thousand eight crisis happened and you know we lost the government lost thirteen billion dollars in revenue off of that two point cut maybe there's enough cuts other places I mean again there performance costed so they're saying there's enough cuts in other places by his costed but if you read the report something that has me worried is is from their perspective they might catch some heat because the CBO report says anything that's I WANNA say it's two thousand twenty three onward day rate as a high uncertainty that this is accurate absolutely there's things that that have not been announced I that they're taking his assumptions they're also taking into assumption that our GDP is going to keep on growing but right now when we live were in fear of a recession to talk about a possible recession and if anything it's GONNA happen right before a US presidential election because that's when it happened into listen yeah and that's a little bit of salt with a grain of salt with that because uncertainty creates it and generally speaking before country he's do have elections there's a little bit of uncertainty in markets and their dollar value and things like that and it's not until after the election happens and then companies and the sisters no yup okay I can trust this person has the empower yup there's a possibility that you're right with that that's actually relevant in that as we go through the platform you'll see that there's more things are there are things in it that are saying we need to get away from the United States and really we should have identified this earlier there are things that we need to get away from the United States because they've gotten away from us they right okay like our fuel yeah they don't anymore no they've run they're fuel creation a ton YEP and there are other areas that we as a resource nation have provided them in the past that no longer do therefore our resources are worthless right so another example is we're trying to get trade partnerships with China and Asian markets has the US doesn't it anymore right Asia might or does especially if they want to move away from coal and that's exactly it with the liquid look right so the US doesn't need anymore that's why we have surpluses so that's why it's it's in the platforms yeah absolutely they want to which again it's part of the platform that I don't have a problem with we need more trade partners okay so in the what's old is new again section of the of the platform introduced the Green Public Transit tax credit so reintroduce the public transit tax credit and slap the word green on in front of it and make everybody feel good so a note that I wanted to make here was it in a in a finance candidate evaluation so this is notes from the Parliamentary Budget Office called Primer on the public transit tax credit from two thousand twelve so the original public the tax credit was introduced two thousand nine two nine wasn't yeah okay so does during the previous conservative government and then this note K or this primary came out while the yeah well the hardware conservatives were still in power so essentially says that the federal public transit tax credit did not material in materially increase ridership and is unlikely that the elimination of that credit will materially affect ridership choice so while it was a handy the credit to have it probably didn't do what it was supposed to do which was hopefully increase ridership reduced traffic reduce increased emissions from I'm from cars and and other transportation and provide people a tax benefit at the same time basically just sounds like they're planning on reintroducing the say they are it's the exact same percentage yeah When I was reading through this I got stuck on the increase of fifty nine point five percent thought it's a pretty large increase or is it I don't know how many people there are that are using transit so what I do is I dug up the actual reason urge that that was based on found it it's pretty easy to find sunset's can I was curious like did other forms decrease no no during the same period car use increased by twenty eight percent so less maybe it's because less people could afford do have more people living in urban areas either way obviously other things decreased but not car us right so that's what they're talking about in their reducing the congestion in the traffic that's that's part of the goal but it's a twenty year period that tax credit was in place for approximately half of it so did it do any during that time frame no no the study that you mentioned is mirrored by stats can saying that it didn't have the effect that they wanted another thing unless it isn't a platform that they want to increase the TDC end and other forms of transit mass transit yeah more infrastructure dollars towards them yes with with what we have right now transit average ride is forty eight minutes and the average commutes twenty five minutes so you want more people to commute which is going to increase that ride instead of take the car we don't take our car because it's cheaper is an expense that we pay because it let's get to work faster lets us get home faster so we can do the things that we wanted to do at home so if I'm driving car and I see this I don't think I'm going to use the transit I think great the other fifty percent of the people that are on the highway are gonNA use it is it and the thing is everyone is thinking that so therefore no one takes the transit because of this incentive it doesn't get done what they want to get done what was the thought just going through my head it's like if everybody thinks that everybody else is going to do it nobody's going to do it exactly yeah. The bystander effect Yeah I think I don't remember it was a stats can thing but I remember when when they originally announced to this credit I did see something you're just wasting my tax dollars but with that said it is money that's going to be bull that can't necessarily afford a car that's a good thing that's where I'm going with myself on it and there's always gonna be people using public transit to do with housing extending the mortgage amortization periods so extending extending a member maximum memorization on I for first time home buyers to thirty years it doesn't solve the problem of being able to afford a house though so it's actually worse yes on a monthly basis it's cheaper still going to come up with the down payment though you still gotta come on the downpayment I don't want to get wants that just made me cringe because the citizens they had on it were when when she gave this as an example of something that they were going to do the gentleman was super excited about it and I felt for him but at the same point like if he has a house that's that he wants to hi this three hundred thousand dollars if you change from a twenty year mortgage to a thirty year mortgage you are doubling the amount of increase of interest?.
"conservative party" Discussed on Poutine Politics
"You don't need to I guess it helps from perspective to say here's the things that are already in place and as long as I don't know whatever I don't I don't The point I was getting out there three two mark your name is what might know Mark Mark Mark Mark where's Mike he told me Oh okay well my not here what are the different all these of trying to record on Canadian thanksgiving weekend as a result mark had to pinch hit for Mike Because Mike Scott family today We're GONNA talk about the Conservative Party of Canada's platform for this election because thankfully they released it just in time for us to talk about it for our last episode before the election actually happens before we get there a couple of quick notes i WanNa say thank you to everybody who has been running our listenership has been going up quite a bit since the last time I mentioned it probably a month ago a lot more listeners a lot more major cities last time I checked Hamilton is still winning just barely so keep it up but Toronto's right behind we've picked up some more listeners out west as well thanks to the people in Vancouver Edmonton and Calgary I'm surprised that the people in Alberta you're listening to us so far but I guess we're doing a good job we're not we're not making them to upset yet so anyways I'm glad that you've enjoyed listening.