You’re quite right … 
What does Kwarteng’s stamp duty cut mean for UK homebuyers?
The chancellor, Kwasi Kwarteng, has confirmed a permanent stamp duty cut, with no tax to be paid on properties up to the value of £250,000.
Kwarteng announced the policy in a mini-budget on Friday, almost a year after the last stamp duty holiday ended. He also increased the threshold for first-time buyers to £425,000.
who is Andrew Lilico?
Not entirely clear after a quick Google, but he did write an article in the spectator and closed with this:
So I would guess that the odds are that she will be able to claim vindication, and Friday may well go down in history alongside other famously vindicated ‘fiscal events’ such as the 1977, 1981 or 1986 Budgets. It may be a gamble. And it may not work. But it’s worth a try.
Clearly suggesting it’s a bit more of a gamble than the previous article suggests, as the words “odds” and “guess” indicate. Worth a punt? Hmm.
So unelected representatives gambling with the economic future of the country - not much changes.
I read that he is a committed “Anglican Christian” and has five children. Who does that remind you of?
https://www.bbc.co.uk/news/live/
Chancellor Kwasi Kwarteng confirms U-turn on top rate of tax
Kwasi Kwarteng has confirmed he will not pursue cutting the 45p rate of income tax on people earning more than £150,000 a year
Announcing his plans to ditch the 45p rate cut, Chancellor Kwasi Kwarteng said the plans had become a “distraction from our overriding mission to tackle the challenges facing the country”.
Kwarteng says the government’s plans were designed to “build a more prosperous economy”.
Pressed on whose idea it was to ditch the plan after Prime Minister Liz Truss expressed support for it yesterday, Kwarteng says it was a decision reached collaboratively. He says he’s taken responsibility for the plan, after listening to colleagues, stakeholders and voters.
This is a massive and humiliating U-turn.
It comes only a day after Liz Truss insisted she would not abandon the tax cut for the wealthiest. It would also seem to undermine her central argument that growth depends in large part on lower taxes to attract entrepreneurs.
The Shadow Chancellor Rachel Reeves thinks the damage is done - that the increase in the cost of borrowing has already happened and that will mean higher mortgage rates.
The party is arguing the U-turn needs to go a lot further.
“They need to reverse their whole economic, discredited trickle-down strategy," Reeves says this morning.
You could not make it up. What a mess.
But not a mess for the hedge funds who bet against the pound and against government bonds. They still made a tidy profit.
Oh this is such a surprise…
A government who does U-Turns, who would have thought! 
This man should quit. He should also face jail for what he has done. Champagne with the hedge managers = collusion.
Au contraire. Has anyone mentioned to possibility that this was always part of the cunning plan to make it look like they are a listening government who cares about public opinion?
When they said “We get it, we listened” they didn’t mean listening to us. Just to clarify.
Indeed … their own MPs were going to vote against the 45% … better to “listen” than be “told” … 
Oh ye two of little faith. 
I think there is also the reason that “our mates and sponsors in the hedge funds have already made their money so our work here is done”.
Worry not. The money they made will soon trickle down to us all.
I’m back in west London next week. I’ll keep an eye out for the money. I imagine it will simply appear in my pocket when I stroll down the right street.
(BTW apparently in his tax cutting for the rich at the start of his tenure as president, Trump promised the average American would benefit by $4,000 a year through trickle down economics. Guess what?)
Mind you wear a hard hat as those coins come flying down from the heavens. Failing that, an umbrella to deflect the piss they’ll be showering down.
precisely why some should face criminal charges
I liked the new version of the chancellor’s name in the Guardian: Kamikwasi Kwarteng. Spot on given his career ending u-turn.
Another day, another U turn…
Oops. Even the treasury can’t connect the dots up to real life …
