TormeadMike
19.9K posts
Rayner dodges a £40k tax bill and gets cleared just in time for her leadership bid. Rules for thee but not for me. Two-tier everything. bbc.co.uk/news/articles/…
“All in this together?” Naa. That’s for THEM not ME. Rayner had VIP hotline to HMRC over unpaid tax bill telegraph.co.uk/news/2026/05/1…
Critics demand proof as Angela Rayner claims HMRC has cleared her over £40,000 unpaid stamp duty bill Angela Rayner paid the £40,000 in back stamp duty on her £800,000 flat in Hove after a complex transaction involving her son’s trust. She was investigated for potentially avoiding the higher rate on a second home and was found to have breached the ministerial code though HMRC has now ruled there was “no wrongdoing” or carelessness. The taxman closed the case unusually quickly in under half the normal 18 months and imposed no fine. Rayner announced the clearance on Thursday, saying: “I have been exonerated by HMRC of the accusation that I deliberately sought to avoid tax.” Shadow ministers and tax experts are now openly demanding she publish the actual HMRC letter, warning the lack of transparency looks suspicious at a time when she is being tipped as a possible leadership contender.
Howdy, Laffer Curve. It’s been a while.
This is absolute insanity. And there are some Labour MPs who are suggesting that he should be the next Prime Minister.
Give me strength!! If you won’t cut public spending…and you won’t do anything to engineer economic growth…and you borrow way beyond your means…then of f***ing course Gilts will exert an influence on policymaking…
"If the British government is going to be completely dominated by the bond market, MPs might as well go home." Diane Abbott told Cathy Newman on Sky News that whoever replaces Keir Starmer as prime minister must go through a "properly organised selection process", regardless of any "hissy fit" made by the bond markets. When this provoked laughter from Newman and eye rolling from former Conservative cabinet minister Gillian Keegan, @HackneyAbbott argued that there's no point in having a parliament if the financial sector always has the final word.
In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/
I was on a train in Tokyo. We stopped between stations. Announcement in Japanese, then in English: "We apologize for the delay. We will resume shortly." The delay was maybe 3 minutes. Not a big deal. When the train started moving again, another announcement: "We sincerely apologize for the delay. We were stopped for 3 minutes and 20 seconds. This is unacceptable. Thank you for your patience." Three minutes and twenty seconds. They measured it exactly. And called it unacceptable. When I got off at my stop, there were station staff on the platform bowing and handing out delay certificates. I took one out of curiosity. It was an official document stating that the train had been delayed by 3 minutes and 20 seconds, signed and stamped. The staff member said in English "for your employer. So they know the delay was not your fault." I said I'm a tourist, I don't need it. He looked confused. "But the delay affected you. You deserve an apology." Three minutes. They were treating a three-minute delay like a major incident. Later I mentioned this to a Japanese friend. They said "oh yes, delay certificates are normal. Trains are supposed to be exactly on time. If they are late, they must apologize." I said three minutes isn't late, it's nothing. My friend said "in Japan, three minutes is late. On time means on time. Not approximately on time." They said the train company probably investigated why there was a 3-minute delay. "They will find the cause and fix it so it doesn't happen again." I kept the certificate. It's framed in my apartment now. A reminder that somewhere in the world, people care about three minutes. © 6IX. @BSAT_Properties
Starmer and Reeves are not kidding when they say this political uncertainty causes economic damage. The only “reset” being achieved at the moment is higher borrowing costs. Result? We’re all worse off. So deeply depressing.
In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/
👀UK 10yr bond yields shoot up to 5.1% amid speculation about the fate of the PM. Here's the chart of the past three trading days 👇
NESO view of TNUoS charges 27/28 onwards shows the annual increase inbound. What is laughable is they forecast another 20GW of generation is going to be added 26/27 which lowers the charges recoverable from generators. @7Kiwi @I_D_A_U_ @latimeralder @KathrynPorter26
