Postpone some of the cuts?

LauraW10

Thrugelmir wrote: »

Five years of escalating fuel duty rises was tucked away in the small print rather than being formally announced. (One of GB's favourite budget tactics). So plenty of tax revenue coming through......

Now that is true! Will it make up for the lack of stamp duty though? We'll just have to wait and see I suppose.

I do hope you are right though.... I really do...

Graham_Devon

StevieJ wrote: »

You mean like this?

All getting a little bitter round here, isn't it!

wherediditallgothen

LauraW10 wrote: »

The 1920s..... Figures! I'm surprised you can use a computer. Well Done!

Colder.

Thrugelmir

LauraW10 wrote: »

Please show me any evidence that the Government cuts are a good idea?

And Labour's plans for the 66% of cuts so we can compare?

Darling’s plan earlier this year (2010) was a 66:33 (cuts:tax rises) ratio in order to deal with the deficit, and eventually national debt. He was opposed by several Labour MPs, most forcefully by Ed Balls during the Labour leadership election.

Or Balls position?

In his first day in the job after his dramatic elevation following the sudden departure of Alan Johnson, Mr Balls said he “at one” with the Labour leader.

Mr Balls had previously attacked Labour’s pre-election commitment to halve the deficit in four years. That put him at loggerheads with Mr Miliband and Labours last chancellor, Alistair Darling and led to him being dubbed “Britain’s number one deficit denier”.

ILW

Thrugelmir wrote: »

Five years of escalating fuel duty rises was tucked away in the small print rather than being formally announced. (One of GB's favourite budget tactics). So plenty of tax revenue coming through......

Like the time he made that great grinning announcement that he was reducing the basic rate of tax. It took at least a few hours for it to come to light that he was also increasing the lower rate. The man was a total fool.

Thrugelmir

ILW wrote: »

Like the time he made that great grinning announcement that he was reducing the basic rate of tax. It took at least a few hours for it to come to light that he was also increasing the lower rate. The man was a total fool.

No not a fool. Highly intelligent. Trouble is he took a gamble in doing so and in the process lost his reputation from a point of view of integrity.

ILW

Thrugelmir wrote: »

No not a fool. Highly intelligent. Trouble is he took a gamble in doing so and in the process lost his reputation from a point of view of integrity.

Intelligent fool then.

LauraW10

Feb. 2 (Bloomberg) -- Many European countries are pursuing “excessive austerity,” risking a marked slowdown in economic growth, Nobel Prize-winning economist Joseph Stiglitz said.
“There’s this disastrous policy that even in the countries that don’t need to have austerity,” such as the U.K., they “are going for much more excessive austerity than they need,” he said at an investor conference in Moscow today. “We are already seeing around Europe the consequences of this austerity. The clear implication is that growth will be slower.”

While both those nations had “no choice” but to tighten fiscal policy, measures adopted by some other countries such as the U.K. aren’t justified, Stiglitz said. Britain, where the economy contracted in the fourth quarter, is already seeing the fallout, he said

“Whether it goes to double dip isn’t clear, but that it will be slower is very clear,” Stiglitz said. “We’ve gone through this experiment over and over again of what will be the consequences of austerity, and it is a marked economic slowdown.”

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=as_FClQkGgOc

IronWolf

LauraW10 wrote: »

Not at all. I'm quite happy to read any posts that enlighten me.

Please show me any evidence that the Government cuts are a good idea?

.....And just 'cos you say, so isn't evidence in my book - nor are articles from the Mail or the Express

With net UK debt at 150% of GDP, there are severe problems if we don't tackle it

Problems of National Debt

Interest Payments. The cost of paying interest on the government’s debt is very high. In 2008 Debt interest payments of £31 billion a year (est 2.5% of GDP). In 2009, £35 billion (similar to defence budget). Public sector debt interest payments could be be the 4th highest department after social security, health and education. Debt interest payments are rising close to £70bn given rise in national debt.

Higher Taxes in the future.

Crowding out of private sector investment / spending

The structural deficit will only get worse as an ageing population places greater strain on the UK’s pension liabilities. (demographic time bomb)

Potential Negative impact on Exchange Rate

Potential of Rising interest rates as markets become more reluctant to lend to the UK government.

Generali

LauraW10 wrote: »

Have you been drinking?

You are carolt and I claim my five pounds.

!!!!!! is that comment supposed to be? You've reached new lows for yourself which is impressive as you're basically a troll with a sign-on to the FT.