Savvas N

Go @MoriartyEddie 👏

@AkaPaulHoward The one and only @MoriartyEddie 👏

The lad signing the story about a member of the public heckling King Charles deserves the rest of the day off for this.

Coming to the end of a long week. My personal view is I think the threshold has now been reached for the Bank of England to intervene in Gilt markets before Monday's market open to cancel its auction of short-dated Gilts, and pause the active sale of Gilts as part of its QT programme. There is a strong argument that the effect of US macroeconomic policy uncertainty, and recent strong US economic data, has got in the way of the UK's monetary transmission through a rapid tightening of financial conditions. It wouldn't be controversy free with political accusations of parallels to Autumn 2022, and claims the Bank is helping finance a fiscal overstretch. But it is the right thing to do for the UK economy.

So far the financial market response to the UK Budget is becalmed. Gilt yields lower, spreads modestly narrower and most GBP softness (-0.4%) occurred ahead of statement & Pound remains up on pre-election levels.

In general, enterprise is better suited to providing services that inefficiently run local authority provision. But how those costs escalate is important to truly understand. There are not many families in the UK that are not affected by broken social care system at present.

Any thoughts that increasing flow of funding to devolved governments (/regions) will result in magnificent improvements to public services will fail unless the escalating (/inefficient) costs of social care are considered. The example of Hampshire County Council rings alarm bells

Today we will see an attack on trickle down economics in the UK. Before people celebrate the arrival at new utopia (/Narnia) let’s see what the length of inevitable transition period might be. Businesses are already struggling under the weight of regulation & complicated taxation

@Frencheconomics @threadreaderapp unroll

What to expect from financial markets on Budget Day. A longish 🧵 on what to look out for - and why so much of macroeconomic significance and relevance to debt markets has been pre-briefed/ leaked…. (1/n)

BREAKING - ‘Independent report’ backing VAT raid on independent schools, claiming it would raise £1.5bn, was written by Education Minister’s best friend. In fact Labour’s disastrous policy stands to waste at least £2bn - even before tax losses from redundancies and closures.

There's a private grammar school in Durham which doesn't use embossed stationery, doesn't have a swimming pool, and doesn't have an AstroTurf pitch. It educates children for £4,250 per year (as against £7,690 per pupil in state education). @igsdurham is a beacon of low-cost private education, accessible to parents on modest incomes who will now have to find an additional £850 per year, or transfer their children to the (more expensive) state system. Private schools are not all Eton and Winchester. And don't get me started on cathedral choir schools and arts schools – ballet, theatre, music – for gifted children for whom there is no provision in the state sector.

NEW I’m taking legal action over school VAT for my daughter’s sake - first legal action against government’s plan to charge 20% VAT on private schools ⁦@thetimes⁩ thetimes.com/article/4ac916…

The first of many…let’s see how increased class sizes at local state schools works out until the funds raised from VAT levy is utilised to train more teachers. Zero sum game I imagine as stressed teachers will be leaving the profession as quickly as we train new ones

On this day in 1900, the engineer Frank Baldwin was awarded a US patent for his mechanical calculator. The machine was capable of doing a big(ish) multiplication in c20 seconds with eight turns of the handle!

Raffle prize donations for our annual marquee event on the 4th are always greatly appreciated

Great cricket player, must be outstanding in your dressing room but perhaps not a nice human being. Certainly not contrite when David Warner comments today “I've always been that person who has copped it.” regarding ball tampering!

Confident and supremely capable coach with IPL experience who has honed his coaching skills over years. They will cause upsets and nearly caused one today. Onwards and upwards PNG

@cricketjim1 That said, he’s never played on a pitch that spins square and offers uneven bounce (which he’ll look to take advantage of with his height of delivery). Let’s hope he has the match of his life #INDvENG

Don’t worry about thinking of a song for @tomhartley100. He already has one and it goes to the tune of ‘I wanna dance with somebody’ by Whitney Houston. We will let you figure out the rest @TheBarmyArmy

Everyone at Merchant Taylors' is so proud of you @tomhartley100 🏏🏴󠁧󠁢󠁥󠁮󠁧󠁿 @mts_sport #INDvsENG #EnglandCricket