Britain faces up to 10 years in debt.

bo_drinker

http://www.mirror.co.uk/news/top-stories/2009/04/21/decade-of-debt-115875-21293939/

ruggedtoast

And among the housing measures to be unveiled will be: EXTRA help for people unable to meet mortgage payments.

Why the capitals? Anyway I guess this will be ON TOP of all the other help for people unable to meet mortgage payments which turned out to be hot air.

Nylontokyo

What will this mean in real terms for house prices?

Are we talking about falls for 10yrs here?

Sarah_Cooper

Nylontokyo wrote: »

What will this mean in real terms for house prices?

Are we talking about falls for 10yrs here?

I'm thinking Tulips, South Sea, Tech Stocks, now property.

ManAtHome

ruggedtoast wrote: »

Anyway I guess this will be ON TOP of all the other help for people unable to meet mortgage payments

Maybe to cover hard-working-families losing their 3rd home allowances..?

prowla

That shitforbrains Gordon Brown will go down in history as one of the biggest liars ever with his "end to boom and bust".
He is the biggest failure our country has seen since Chamberlain came back with his piece of paper from the "Herr Chancellor".
Not content with taxing the current electorate to the hilt, he has now saddled our children (and their children too, probably) with a huge debt.
They will look back on this generation as a bunch of fools and losers.
And Brown is the architect of this stupidity.

LizzieS_2

As a population we rejected the party who told us a few years ago they would raise taxes in their election campaign. Looks like we are also now paying for the artificial boom (when Government could have saved for the rainy days) as well as the fallout.

ManAtHome

LizzieS wrote: »

As a population we rejected the party who told us a few years ago they would raise taxes in their election campaign.

Yes, but cleggy seems to be a "tax cuts for all" kinda populist to$$er, so three paces back...

LizzieS_2

ManAtHome wrote: »

Yes, but cleggy seems to be a "tax cuts for all" kinda populist to$$er, so three paces back...

More a case of if you can't beat them, join them (which cleggy subseqently did by spouting the same idea of tax cuts).

The next election will be challenging as all have to raise taxes - cannot see us voting for one who blatently appears to be asking for more tax than another.

baby_boomer

Telegraph - More banking bailouts will be needed

".....A month ago the International Monetary Fund was charged by the G20 finance ministers with finding out precisely how the balance sheets of the world's major banks would look if they were to get back to lending again at more or less the rate they were in the pre-crisis days. Today the Fund delivered its verdict and it is both clear and terrifying.

The simple truth is laid out in page 33 of the Global Financial Stability Report, published today in Washington: "if banks were to bring forward to today loss provisions for the next two years, before expected earnings, US and European banks in aggregate would have tangible equity close to zero."

In other words, the entire global banking system would be bankrupt - kaput - if its institutions immediately wrote off all the toxic assets still sitting in their vaults without any government assistance. And bear in mind this already takes into account the money we have already thrown at the banks. So even after all this has been spent the financial system remains, effectively, insolvent...."

kwikbreaks

prowla wrote: »

That shitforbrains Gordon Brown will go down in history as one of the biggest liars ever with his "end to boom and bust".

He faces some stiff competition from Teflon Tone for that accolade.