We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Hung parliaament - phew
Comments
-
Bullfighter wrote: »Currency devaluation is not a bad thing at all.... unless you use energy, food or fuel on a regular basis.
Then again if you need a job ?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
The way I see it, the Torys will cut because that's in their nature. The Lib Dems will cut the deficit because Cable is an educated economist.
Labour just don't get it, and Gordon will keep on harping about "Tory cuts vs Labour investment" until the cows come home.
Don't think that is true, they were just waiting to get the election out of the way, telling the truth about cuts is not good politics, ask Georgie Porgie.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Bullfighter wrote: »What should be scaring the living cr&p out of most anti-tory people is that Thatcher did not cut public spending, in fact the only period in recent history when core public spending has been cut in real terms was in the mid ’70s under Labour.
Party politics aside, we are proper f*cked.
She didn't need to, she had all those oil reserves and privatisation proceeds to squander :eek:'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
The way I see it, the Torys will cut because that's in their nature. The Lib Dems will cut the deficit because Cable is an educated economist.
Labour just don't get it, and Gordon will keep on harping about "Tory cuts vs Labour investment" until the cows come home.
There is very little difference between the deficit reduction plans of all three parties.
The only real difference is in timing, and even then only by a year.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I heard read that a rise in the VAT rate from 17.5% to 25% would fill one quarter of the deficit.
If true, this shows just how serious the crisis is.
Actually it wouldn't, because consumption would reduce and revenue would fall.
What it does show is that you can't cut/tax your way into a balanced budget.
Growth is the only way out.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
What some people fail to remember is that Thatcher had to make big changes because of the mess the country was left in by the previous party.
In 10 or 15 years people will look back and blame the incoming party again for being ruthless and forget about the previous who have done very little in the last two years to mop up their mess.0 -
HAMISH_MCTAVISH wrote: »There is very little difference between the deficit reduction plans of all three parties.
The only real difference is in timing, and even then only by a year.
Not true - Labour have said they will only reduce the deficit by half over the next parliament - the Tories have said they will go significantly farther.HAMISH_MCTAVISH wrote: »Actually it wouldn't, because consumption would reduce and revenue would fall.
Of course such a VAT rise would never happen in practice. My point was simply to illustrate just how deep the black hole actually is. You can also look at it this way: a 1% rise in NI puts £6BN into the coffers, the blackhole is £175BN therefore if the gap was plugged by NI alone (which it wouldn't be) NI would have to rise by 29% (175/6) :eek:
That just gives some sense of the scale of the adjustment needed.
Growth alone is not going to be adequate. There will have to be "savage" cuts and tax rises.0 -
Not true - Labour have said they will only reduce the deficit by half over the next parliament - the Tories have said they will go significantly farther.
"Much further" actually translates to almost no difference in reality. About 3% of GDP more over the next 8 years.
From the IFS.....
Of course such a VAT rise would never happen in practice. My point was simply to illustrate just how deep the black hole actually is. You can also look at it this way: a 1% rise in NI puts £6BN into the coffers, the blackhole is £175BN therefore if the gap was plugged by NI alone (which it wouldn't be) NI would have to rise by 29% (175/6) :eek:
That just gives some sense of the scale of the adjustment needed.
Growth alone is not going to be adequate. There will have to be "savage" cuts and tax rises.
"Savage Cuts" and tax rises are counterproductive. Cutting too much, or taing too much, causes reductions in revenue and widens the deficit, instead of narrowing it.
The only credible way out is to make small cuts where possible, and freeze spending everywhere else, whilst growth in GDP and inflation do the legwork for you.
All three parties plans use this same approach. With spending being effectively frozen whilst it falls as a percentage of GDP due to growth.
As for the differences between parties......
http://news.bbc.co.uk/1/hi/magazine/8667929.stmThe IFS graph also puts plans for the deficit in context. This is the gap between one party's plans for tax and the same party's plans for spending, a gap of equal size for all three, with only a small squabble about timing the pain.
A bit more research and a bit less hyperbole would probably serve everyone well when discussing the issues.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »A bit more research and a bit less hyperbole would probably serve everyone well when discussing the issues.;)
coming from you...
:rotfl::rotfl::rotfl:0 -
coming from you...
I know.....
How bad do you have to be for ME of all people to be able to point out your hyperbole and exageration, and provide figures to prove you wrong.
Thats just embarrasing.....:rotfl:
So back to the facts..... No response to the IFS analysis then?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards