This country....

Old_Slaphead

Oblivion wrote: »

The problem with means testing is that it rewards those who have borrowed to the hilt and spent like there was no tomorrow ... you know, the ones who caused all this sorry mess in the first place ... and penalises those who have been prudent and made sacrifices to save for their future.

Dave.

Totally agree - but unfortunately we live in a very unfair society.

Anyway, I'm only musing on reducing benefits for those who, through whatever means, obviously dont need them.

earlgrey_3

dunstonh wrote: »

Compared to what? It was too high to begin with. What did you do on previous occasions when the pound was at this level or lower?

Agreed. The problems of this country have most often been caused by the pound being too high, not too low.

amcluesent wrote: »

Clown's wheeze is already unravelling, like to disclosure of secret plans for a RISE in VAT. How many more tax bombshells are there?

Why do some delight in talking down confidence when we need to build it up? Isn't the ecomomy more important than small minded party politics?

It's a "Mr Amcluesent denies beating his wife" story. The government has uniquely given its tax plans for years ahead. Instead of raising VAT in 2011 it decided on raising the top rates of tax and NI. You know in advance what you'll get and can vote on it at the next election.

Unlike when Geoffrey Howe repeatedly denied claims he would double VAT before the '79 election then after the election slashed "super-tax" on the rich by 30% and raised VAT from 8% to 15% to pay for it. http://specials.ft.com/ln/budget99/q310e.htm Had you forgotten? :rolleyes:

purch

can't remember much about the 70's and 80's

Well is you did, or if you have been in your 30's during either of those periods, especially the 1970's when old bushy brows was going cap in hand to the IMF, you would have probably been saying much the same....

opinions4u

I love all this (until I end up losing my job because of it).

"Reckless nasty greedy banks lend too much and cause a recession"

"Nasty banks bailed out by taxpayer and told to lend at 2007 levels"

"Nasty banks told off for regining in their lending and becoming prudent again"

Is it me?

6022tivo

opinions4u wrote: »

I love all this (until I end up losing my job because of it).

"Reckless nasty greedy banks lend too much and cause a recession"

"Nasty banks bailed out by taxpayer and told to lend at 2007 levels"

"Nasty banks told off for regining in their lending and becoming prudent again"

Is it me?

Yep, and people being told spending on cards, and running up high debt has got us into this mess, and then they lower VAT and tell us to get buying???

Oblivion

6022tivo wrote: »

Yep, and people being told spending on cards, and running up high debt has got us into this mess, and then they lower VAT and tell us to get buying???

We are living in a Monty Python sketch I tell you :whistle:

Dave.

RayWolfe

6022tivo wrote: »

I think maybe I am wrong about the pound, I do remember when it was this level against the dollar, but we should of taken more of a advantage when it was strong to protect us, I feel we are well out of position compaired to other countries.

"Protect us?" From what? "Take advantage?" By doing what?
A lower pound makes our exports more attractive or earns us more at the same price. A lower pound makes imports less attractive by costing more.
British industry was shattered in the early eighties at $2 to the pound. Mrs T. then saw the error of her ways and the pound went to $1. Remember how our prosperity increased after we were ejected from the ERM? The pound DROPED from a high level to a LOW level immediately and stayed low. It wasn't until very recent history that the pound reached $2 AND IT WAS UNSUSTAINABLE as has now been shown.
We are now in a much better position compared to other counties. Your thinking is upside down ... you're not Australian by any chance ...:p

Old_Slaphead

A lower pound also makes imports more expensive. It means that any VAT savings will be more than offset by import price increases.

A lower pound is a sign of a weak economy and liack of confidence in the country (it will also cost me more to go on holiday !)

6022tivo

RayWolfe wrote: »

A lower pound makes our exports more attractive

Do we have anything to export anymore. Looking around my house, I don't see anything made in the UK anymore. Lowering VAT to encourage us to spend may be a good idea, but we only going to buy goods made in other country's thus increasing our debt??

RayWolfe

Only about half the worlds aircraft engines, most diesel engines for ford cars, wing for Airbuses, a large number of luxury cars, lots of Japanese cars for Europe, JCBs for the whole world, military equipment for most of the middle and far east ... do you want me to look it up for you or is you domestic ad homini good enough for you?