David Cameron warns of full-scale depression

chucky

Wookster wrote: »

We shall see. I have a feeling the UK economy will shrink by 6% in 2009 alone. Add the nearly 2% in 2008 and possibly more shrinkage in 2010... over 10% is certainly in the realms of possibility.

There are still many other gremlins that have yet to be outed such as
- impact of Britain's own sub prime mortgage lending
- impact of unemployment on mortgage delinquency
- the budding seeds of crisis in Eastern Europe

Its not a very rosy picture at all

i don't think that will be the case

"Britain may have come through the worst of the recession, according to the Bank of England's chief economist."

"The economy will begin growing again by the end of the year and expand at normal rates throughout 2010, Spencer Dale said."
http://uk.biz.yahoo.com/20032009/140/boe-economist-uk-spring-soon.html

Reaper

StevieJ wrote: »

Conservative government would focus on driving down debt ahead of tax cuts.

I agree with him, if the Tories insist on driving down debt if they achieve power we will be in a depression in no time :eek:

I want Brown in power to spend during the recession then I want Cameron in when it is all over to pay off the country's debts!

itsnever2lateisit?

If the Tories win the next election, then it will be 1979 all over again. Not saying that's a bad thing, but it will be mighty painful. They will need to buy off some of the lower paid, so expect a tax cut carrot, then an emergency budget to implement said cut financed by tax increases not mentioned in their manefesto eg VAT at 20% (or even higher)

Austin_Allegro

itsnever2lateisit? wrote: »

If the Tories win the next election, then it will be 1979 all over again. Not saying that's a bad thing, but it will be mighty painful. They will need to buy off some of the lower paid, so expect a tax cut carrot, then an emergency budget to implement said cut financed by tax increases not mentioned in their manefesto eg VAT at 20% (or even higher)

Probably. And it'll be the same all over again with the left howling about 'evil tory cuts' taking away their sweeties...

lynzpower

Austin the problerm is that it wont just be the "left"

You might argue that the real left have nothing but despir for this government and how it treats people. Including a significant portion of the far left who believe that the benefits culture in this country has been created and administered to keep the population docile and to an extent grateful for its benevolent leaders. ( this is certainly a view I agree with )I do believe that the extension of the welfare state to what we see now, has stripped dignity away from so many people. One could say the white collarisation and the deterioration of primary and secondary industries has also led to the merging of left and right so that all thats remaining are extremes. Some would say this is a good thing - consensus- I would say it has created a political laziness of which we should all be ashamed. Ever wonder why we seldom see any real "conviction" politicians anymore? Its because they reflect the population in these days of rolling media, and no one wants to be seen as "standing out too much" in case they are disliked.

I was having a conversation on another thread a few weeks ago, and was bemoaning the difficulty in having children these days if you do not want to claim benefits. It is seen as totally normal thing to do , by those who have degrees, and are professionals! Thise who probably would have been thought of as "conservatives" before.but still they claim, why- because a) its there b) the economy has been able to run out of all control so you need 2 parents working 40 hours a week ewach t omeet the basics. UNACCEPTABLE and we are reaping the rewards of that now as we turn out children form primary school who cant read. I could read BEFORE I went to primary school and was reading Blytons from 4 yo. Why? Because my mum taught me to and because I had proper one to one attention not warehoused with 35 other kids with nursery nurses with no GCSEs ( seen this in action)

Geting tax credits so you can go to work so you can pay someone else to look after your kids is something I totally disagree with yet people feel that they have to do this as a full time occupation. the cost of living in this country has to come down and that is going to happen by us spending less and not thinking its totally normal to spend eg 400 quid a week having someone look after your baby for you.

RANT OVER!!!!!!

StevieJ

Reaper wrote: »

I want Brown in power to spend during the recession then I want Cameron in when it is all over to pay off the country's debts!

Fair comment, horses for courses I supppose

kabayiri

i8change wrote: »

I agree with lynzpower. Also unfair taxation is n't right. Would like to see Tax Credits stopped, even though I work for them!!

Agreed.

I think the threshold before anyone starts paying tax should be 16K or 18K. Then dump tax credits.

Let the lower paid keep more of what they earn. We will never have a tax system which is fair for all, but lets have a leaner simpler system at least.

amcluesent

>the benefits culture in this country has been created and administered to keep the population docile<

NuLabour is essentially operated on Fabian objectives, relying on stealth to bring about it's somewhat muddled hard-left ideologies grounded in brain washing the children and social-engineering to ensure equality of outcomes for the masses, while giving the party nomenklatura unlimited powers.

StevieJ

chucky wrote: »

"Britain may have come through the worst of the recession, according to the Bank of England's chief economist."

"The economy will begin growing again by the end of the year and expand at normal rates throughout 2010, Spencer Dale said."
http://uk.biz.yahoo.com/20032009/140/boe-economist-uk-spring-soon.html

Cheers Chucky, I have not seen that in the newspapers

Wookster

StevieJ wrote: »

Cheers Chucky, I have not seen that in the newspapers

Is that the same BoE that totally failed to see the impending crisis? Yup they have a motherload of credibility :rolleyes: