Gordon Brown risks run on the pound, says George Osborne

baby_boomer

I had wondered why Gordon Brown had been telling all other countries to cut taxes and increase their borrowings - apart from the obvious kick and electoral advantage he gets out of grandstanding as the leader of the free world in crisis, until January 20th.

It's all clear now. He's trying to head off a run on the £ by trying to get everyone in the same lousy boat as the UK .

SGE1

Of course, this wouldn't have happened if we'd joined the euro, would it. Remind me again, which baseball-cap wearing t*sser ran a much ridiculed "save the pound" campaign, and along with his party, made sure national opinion was against joining the euro?

Oh right, the Conservative front-bencher, William Hague. How ironic, eh?

SGE1

eeja wrote: »

My honest advice is sadly not financial but political. If you feel concerned only Parliament and the good sense of our MP'S can keep us from the disaster about to befall us all . Brown is plain and simple doing what he feels is necessary to win the next election and putting our country and our economy at risk in the process.Any financial advice given here would be purely speculative.

Right. Whereas the Conservatives, they have no desire to win the election, so they are campaigning on issues which are purely designed to save each and every one of us from the effects of the global financial crisis. After all, that's what the Conservative party stands for, isn't it? Helping out each and every citizen, regardless of wealth, status, gender, colour etc?

:rotfl:

baby_boomer

SGE1 wrote: »

Of course, this wouldn't have happened if we'd joined the euro, would it. Remind me again, which baseball-cap wearing t*sser ran a much ridiculed "save the pound" campaign, and along with his party, made sure national opinion was against joining the euro?

Oh right, the Conservative front-bencher, William Hague. How ironic, eh?

The most effective anti-Euro campaign was waged inside the cabinet by Gordon Brown (supported by Ed Balls) against his arch-enemy, our Prime minister Tony Blair, who wanted to take us into the Euro.

Joining the Euro would have been a political achievement for Blair and taken power away from Brown at the Treasury.

earlgrey_3

I see Lord Kalms, the former Conservative Party treasurer, has now said publicly what many have been saying quietly: that Osbourne should stand down. http://news.bbc.co.uk/1/hi/uk_politics/7730803.stm

PS. Eeja, as a common courtesy to the rest of us, would you mind respecting the fact that this is the Savings and Investment forums and posting all the party politics stuff to the Moneysavers Arms forum. Otherwise it becomes a little bit tedious. Thank you for your consideration to others.

blackswan2

apt wrote: »

Yet again Osborne has shown he lacks the judgement and responsibility to be Chancellor. John Smith and Gordon Brown did not talk down the pound when it was last in rapid decline after Black Wednesday.

agreed, totally irresponsible by osbourne

eeja

SGE1 wrote: »

Of course, this wouldn't have happened if we'd joined the euro, would it. Remind me again, which baseball-cap wearing t*sser ran a much ridiculed "save the pound" campaign, and along with his party, made sure national opinion was against joining the euro?

Oh right, the Conservative front-bencher, William Hague. How ironic, eh?

Jeez , I had forgotten that as never took much notice of the clown ...thanks for the gem !!

eeja

earlgrey wrote: »

I see Lord Kalms, the former Conservative Party treasurer, has now said publicly what many have been saying quietly: that Osbourne should stand down. http://news.bbc.co.uk/1/hi/uk_politics/7730803.stm

PS. Eeja, as a common courtesy to the rest of us, would you mind respecting the fact that this is the Savings and Investment forums and posting all the party politics stuff to the Moneysavers Arms forum. Otherwise it becomes a little bit tedious. Thank you for your consideration to others.

Did you really post that opinion ? Clearly you have no understanding that our capital, savings and investments are DIRECTLY affected by curent political considerations . To consider making an investment without considering the political aspect would be like crossing the road blindfolded. This is where such postings and those of many people posting in this thread belong as they relate DIRECTLY to savings and investments and definitely NOT in a separate forum on politics. Why not assign all matters on Ice save and Iceland etc to the political forum as the decision on repaying these accounts was ENTIRELY a political decision of the UK government...which even used the anti terrorist law to grab the Icelandic bank deposits ?
PS If you do not like this thread and similar ones you are not obliged or forced in any way to open and read them. After all you have hundreds of other threads to chose from ! Seems you have a greater interest than you are prepared to admit !
Replying to this posting will be proof of the pudding.

halight

Hi iv seen this headline in todays FT weekend. Iv not read it yet.
But it dose worry me.

I really dont know were our Gov are trying to lead us and i dont have much faith in them.
I dont know were all this will end but i am willying to bet that we will all be a lot less well off because of them when i say us i mean us and the county as a whole.

cloud_dog

I think the middle ground, i.e. people who know far more than myself and are not talking for the sake of scoring political points, is that borrowing money to stave off a recession is a valid action albeit one which must be managed efficiently and one in which once coffers start to fill need to be paid back, otherwise, yes, there will be long term pain.