The tories can't afford to get rid of her! As said above, it would make the Country seem ungovernable. Many experts from abroad, placed the collapse more at the feet of the fed rate rise than anything that the new budget did. Markets don't like such shocks, yet alone the people of the UK! But the pound steadied, but now, today, as with many other Countries, such as South Korea and Japan, who both had to introduce emergancy measures to calm the markets, it's all about what is happening in the US.
But I have to confess I don't follow UK politics so closely as I did. In some way's, perversely, it's quite refreshing to see politicians make such gaffs. So much different to the controlled freaks that politicians normally come across as.
As for the 45% tax, I'm not sure I understand the fuss about that. For much of Labours last tenure, 40% was the highest rate of tax and when it was 50%, Blair was warned he was costing the revenue money. So it's a fine balance, as Laffer has established.
Income tax cut brought forward a year, proposed NI rise scrapped, favourable stamp duty changes, IR35 reforms scrapped, proposed corporation tax increases scrapped, controls on bankers bonuses scrapped - hated by the majority, but that is envy, it should help the City, which in turn helps the UK, as should scrapping the increase in corporation tax.
I don't really understand the UK any more more. I have a mate, lived in trust buildings as a kid, similar to Council estates, as I did until my 30's. Rabid Tory hater, lives in a housing association flat in a sought after mainly private development on the river in central London, drives a train for a living - I recall when he was a chippy and refitted my kitchen - just jetted off on his 2nd foreign holiday in a matter of weeks and clearly lives a very good and prosperous life. I struggle to understand such blind belief in identity politics, in the sense of being a proud Labour man. For what end?
I identify as coming from a working class background. I still identify myself as being working class. Most of my friends and family definitely are - postmen, fork lift truck driver, cabbies, only one or two still live in the area we grew up in (Roehampton). Politically, they are a mixed bunch. I know that many of my closest friends voted for Thatcher in 79, as I did, as we discussed it and none of us wanted more of the same mess and chaos as we were witnessing, especially as were just starting off in life. it was the first general election we could vote in. None of us could tell our parents, all originating from solid working class areas, as Fulham was back in the day, which is where many of our families hailed from. I think my friends still all perceive themselves as working class, whether they still live in a council flat or house or private detached houses in nice leafy suburbs. But I believe all of us gave up voting automatically for Labour from day one. Our vote had to be earned, not given blindly.
But the Tories now are at the same stage as Labour were when Thatcher got in - they simply had nothing left to offer. Same after Thatcher quit. How Major won the 92 election is still an incredible acheivment that I won a few bob on. But the Tories were spent. Then came the Blair landslide accompanied by the usual Labour splits as Brown led them down, which led to the Tories again. And now they look spent. If Truss turns it arouns, it will be an acheivement equivalent to Major's.