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John Redwood

@johnredwood

Promoted by John Redwood of 30 Rose Street Wokingham RG40 1XU

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linkhttp://www.johnredwoodsdiary.com calendar_today01-12-2009 15:27:11

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John Redwood(@johnredwood) 's Twitter Profile Photo

Why is the Bank of England helping push up mortgage rates further by insisting on selling more bonds? They have hit the housing market quite enough already.

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John Redwood(@johnredwood) 's Twitter Profile Photo

Stopping the small boats will save lives and hit the criminal gangs. The flights to Rwanda need to take recently arrived illegals to act as a deterrent to others making a dangerous and illegal crossing.

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Tesla is cutting the prices of its cars. Many new electric cars remain dear with continuing consumer worries about range, recharging and future government policies on taxing their use.

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Will the media ask the Bank of England why they insist on losing so much money on bonds and making taxpayers pay for the losses? Why not follow European Central Bank policy which aims to limit losses?

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The Bank of England put up mortgage rates and are keeping them too high for too long. Why do they want to stop people buying their own home?

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The Bank of England has already been sent £49 bn to pay for losses by taxpayers. They want us to pay billions more this year for losses they need not make. The government must tell them it has better ideas for all that tax revenue.

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The Bank of England created too much money and paid sky high prices for bonds in 2021. They called it Quantitative easing and said it would not cause inflation. They were wrong. Now they want to mug taxpayers to overpay for their mistake. Stop selling the bonds at huge losses.

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Now the US Central Bank is going to stop selling so many bonds and start to limit its losses why doesn't the Bank of England do the same? The European Central Bank is not selling bonds to burden European taxpayers with its big losses. Only the Bank of England wants to maximise

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The Green/Lib Dem approach to life is to say 'Let them all buy heat pumps' . Imposing unrealistic targets then imposing bans, taxes and fines to try to change how we live does not work.

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The Labour government in Wales now admits many 20 mph speed limits are impractical and unpopular. Which ones are they actually going to change? Is this just pre election messages?

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Scotland imposed unrealistic net zero targets, claiming moral superiority. They have now had to dump many of them as reality strikes home. Why do they think they can hit the 2045 one when they cannot meet the earlier ones? When will they take into account consumer wishes?

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Governments cannot get to net zero without consumers spending large sums on new cars, heating systems and different food and holidays. Targets will not get us to net zero. Popular affordable green products and services are needed.

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Scotland's government had to abandon their 2030 climate change target. They never spelt out how much it would cost taxpayers and consumers nor how people would need to change their lifestyles.

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If the Bank of England copied the European Central Bank's policy towards managing a portfolio of bonds bought at very high prices UK taxpayers would save billions.

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Why does the IMF complain about tax cuts and never about wasteful or undesirable spending? Why does it refuse to understand some tax cuts generate more jobs and incomes and may generate more tax revenue overall?

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The IMF gets it wrong again. They should have said the UK cannot afford the massive losses incurred last year and proposed for this year by the Bank of England. Many of these losses are avoidable.

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Future tax cutting should not centre on National insurance. We need to cut taxes on income and small business to promote greater prosperity.

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The National Insurance fund last year received £129 bn in NI tax. It paid out £110 bn for the state pension. If the government abolishes employee NI how will it determine entitlement to pension and the other contributory benefits?

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It is clear we need to deliver more NHS capacity and strengthen our armed forces. To pay for this we need to stop the growth of bureaucracy and many of the losses of nationalised businesses and the Bank of England.

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