Madmen in Authority

Jonbvn

LauraW10 wrote: »

And there goes consumer confidence

Was it really necessary to post the same thing on 3 separate threads?

Sarah, I think I can hear Gordon shouting for his breakfast.;)

LauraW10

Britain needs growth not Tory cuts When George Osborne says the UK is “on the road to ruin” he is trashing this country's reputation to justify the cuts and tax rises he's always wanted.He talks a lot about tax rises and cuts. He never has much to say about growth. So the test of the Budget will be whether his plans ensure growth. And crucially, if it is fair.
Britain is slowly emerging from recession. Europe, our biggest trading partner, is struggling to maintain growth with many countries in recession or not
far off it. Our economy is this year largely being supported by government spending, as the independent Office of Budget Responsibility has said. We cannot afford to do anything to undermine that growth. Indeed we should be supporting it.
Borrowing has risen because tax revenues fell when the financial crisis hit in 2008. We and every other developed country did the same: we used public spending to stop our economy tipping from recession into de-pression. It worked.
Remember, the Tories supported our spending plans right up to 2008.
Of course, borrowing has to come down as our economy recovers. That is why I wanted to cut it by half over a four-year period. It would have been tough but I wanted to avoid damaging our economy whilst it was still in a fragile state.
The Tories have painted an apocalyptic picture of public finances and claim high borrowing is to be found here and no-where else. That, as they know, is nonsense. They are using this as an excuse to do what they have always wanted to do — have a real go at the public sector.
It is essential that we maintain growth. Without it the deficit will never come down, as we have seen in Japan.
The Tories often quote Canada. The truth is the Canadians got their borrowing down on the back of a growing US economy. And it is nonsense too to suggest that if you cut public spending the private sector will take its place automatically.
And remember the Lib-Dems' “VAT bombshell”? Judging by the last few weeks, they will be voting for a Tory budget and acting as their human shield.

Alistair Darling


http://www.thisislondon.co.uk/standard/article-23847392-britain-needs-growth-not-tory-cuts.do

Time will tell who's right;)

Thrugelmir

LauraW10 wrote: »

Alistair Darling


http://www.thisislondon.co.uk/standard/article-23847392-britain-needs-growth-not-tory-cuts.do

Time will tell who's right;)

Just a rehash of the pre-election line. Totally devoid of constructive ideas currently. Whilst even Labour party members are joining the coalition to add their expertise to the problems facing the country.

kabayiri

Thrugelmir wrote: »

Just a rehash of the pre-election line. Totally devoid of constructive ideas currently. Whilst even Labour party members are joining the coalition to add their expertise to the problems facing the country.

Agreed.
The opportunity to look at costs at all levels may give us chance to reappraise the way we do things.

You might as well approach these things postively in my book.

Aspiring_Writer

I'm not even going to bother reading the entire thread.

The UK is broke. Thanks to the cretins who make up the Labour party. The Labour party has traditionally been hewn from the trade union and factory floor, and then rise to prominence over time, the 'brighter' ones that is, who have managed to slip out of the donkey jacket and stopped using words like 'comrade' or at least in public.

They havent got a scooby doo how to run the economy, liaise with the City or understand what 'fiscal strategy' means.

Thankfully, we now have a coalition Govt consisting of mainly Tory personnel and some Lib Dems. Although, an unfortunate loss of David Laws, a shame. Nevertheless, a Government that is now talking sense and will restore our finances to a rude state.

Why would they impose higher taxes and punitive fiscal measures for the fun of it? its not a vote wimmer is it? according to the popular press, this coalition needs all the support it can get!

Why? because the idiots who have been in charge for the last 13 years have quite royally screwed our country into the ground, not just financially.

There is no money left, as Liam Byrne so poignantly mentioned.

Thanks then Labour, let us pray you never govern again.

StevieJ

Aspiring_Writer wrote: »

.

Thanks then Labour, let us pray you never govern again.

But the LibDems were to the left of the Labour party pre election :eek:

Aspiring_Writer

StevieJ wrote: »

But the LibDems were to the left of the Labour party pre election :eek:

Yes, they were, I didnt vote for them either. But one or two, like Laws, seemed to have a clue money wise. I'm still not sure about Uncle Vince though..:(

Kohoutek

Aspiring_Writer wrote: »

There is no money left, as Liam Byrne so poignantly mentioned.

All that shows is that Liam Byrne doesn't understand the monetary system like George Osborne. They both think that government finance is the same as personal finance. It isn't.

There are no limits on government spending in the type of monetary system (non-convertible, floating-rate) that exists in countries like the US, UK or Japan. The government will never run out of money to pay off government debt because it can simply direct the Bank of England to buy outstanding gilts by crediting the gilt holder's bank account.

The only practical limits are the degrees to which excessive government spending causes inflation and currency debasement.

Ellie2758

Bit ambiguous. You saying that GB DOES understand monetary system? Or doesnt? hmmmmm. Syntax City maaaaaaaaaaaan.

Kohoutek wrote: »

All that shows is that Liam Byrne doesn't understand the monetary system like George Osborne. They both think that government finance is the same as personal finance. It isn't.

There are no limits on government spending in the type of monetary system (non-convertible, floating-rate) that exists in countries like the US, UK or Japan. The government will never run out of money to pay off government debt because it can simply direct the Bank of England to buy outstanding gilts by crediting the gilt holder's bank account.

The only practical limits are the degrees to which excessive government spending causes inflation and currency debasement.

Ellie2758

God you're such an Old Fart AW. How do you fit Tony Benn into your lil equation then?

Aspiring_Writer wrote: »

I'm not even going to bother reading the entire thread.

The UK is broke. Thanks to the cretins who make up the Labour party. The Labour party has traditionally been hewn from the trade union and factory floor, and then rise to prominence over time, the 'brighter' ones that is, who have managed to slip out of the donkey jacket and stopped using words like 'comrade' or at least in public.

They havent got a scooby doo how to run the economy, liaise with the City or understand what 'fiscal strategy' means.

Thankfully, we now have a coalition Govt consisting of mainly Tory personnel and some Lib Dems. Although, an unfortunate loss of David Laws, a shame. Nevertheless, a Government that is now talking sense and will restore our finances to a rude state.

Why would they impose higher taxes and punitive fiscal measures for the fun of it? its not a vote wimmer is it? according to the popular press, this coalition needs all the support it can get!

Why? because the idiots who have been in charge for the last 13 years have quite royally screwed our country into the ground, not just financially.

There is no money left, as Liam Byrne so poignantly mentioned.

Thanks then Labour, let us pray you never govern again.