Mervyn King: UK can't afford any more stimulus plans

Rochdale_Pioneers

I'm not surprised at all. King is looking at the BoE coffers and is understandably worried. however, he only has to worry about fiscal matters and not other economic matters, employment, social cohesion etc - all of which have a cost.

Personally I'm not expecting another UK-only stimulus but I can see a possibility that there will be a coordinated one on a broader level. Whilst France and Germany might say they have spent enough (and remember that Germany far from supporting the Tory position have actually spent even more than we have), if faced with the further collapse of the very markets they are desperate to see recover they may change their minds.

Graham_Devon

All this kind of proves the tories right. They kept saying we cant keep spending what we havent got!

Now while the boss is out of the country, Mervyn says what they have been saying all along.

mewbie_2

Graham_Devon wrote: »

Mervyn says what they have been saying all along.

I think he's saying "please don't 'help' us anymore Mr. Brown".

Wookster

ad9898 wrote: »

I swear she was reading off an auto-cue

All these Labour drones read off auto-cues. What they don't read out loud is the first line "You have been assimilated"

Rochdale_Pioneers

Graham_Devon wrote: »

All this kind of proves the tories right. They kept saying we cant keep spending what we havent got!

Now while the boss is out of the country, Mervyn says what they have been saying all along.

Sorry but are you suggesting that King supports the Tory position of NO stimulus packages? Noone out there supports that - the question is how much not whether to bother. Even the likes of Germany - now saying no more - have spent more than we have.

Wookster

Rochdale_Pioneers wrote: »

Sorry but are you suggesting that King supports the Tory position of NO stimulus packages? Noone out there supports that - the question is how much not whether to bother. Even the likes of Germany - now saying no more - have spent more than we have.

Are you going to answer my question Rochdale?

ad9898_3

Rochdale_Pioneers wrote: »

Personally I'm not expecting another UK-only stimulus

Can you tell me what effect the other stimuli had, because apart from a gigantic tax bill to pay when the tories get in, I can't see that anything has changed.

Rochdale_Pioneers

Wookster wrote: »

Are you going to answer my question Rochdale?

As and when you ask one then I will answer.

tomstickland

Rochdale_Pioneers wrote: »

Sorry but are you suggesting that King supports the Tory position of NO stimulus packages?

Is that the "do nothing" Tory party?
I saw them on PM's Question Time and they just sat there doing nothing for the whole thing.

Rochdale_Pioneers

tomstickland wrote: »

Is that the "do nothing" Tory party?
I saw them on PM's Question Time and they just sat there doing nothing for the whole thing.

I just find it ironic that they keep claiming they are supported by the likes of Merkel who this week said no further stimuli. She says no more having already spent far more than we have. She hasn't at any point copied Cameron's position and proposed not to spend any money.

The hot topic is how much to spend - what is needed, in what manner is it to be spent, and how much is the magic figure. I don't hear any governments out there saying "no". Cameron's lot are deeply isolated - but it doesn't matter as if they do win the election all the spending will have been done already anyway.

What I would then expect is a miraculous reappraisal of UK government debt. It'll come down in large chunks - far more than they are actually repaying as the "debt mountain bigger than everyone else" they invented gets replaced by the actual debt mountain.