Osborne Loses It - Our Triple A Rating And Its Future

grizzly1911

Wookster wrote: »

I saw that. She was just embarrassing. I really hope labour get in at the next election and complete the work they started.

She is a nightmare I suppose all parties have them, Nadine Dories is too.

Masomnia

BobQ wrote: »

Austerity is not working say Moodys, Osborne vows to carry on regardless. What next?

Really?

At the same time, Moody's explains that the UK's creditworthiness remains extremely high, rated at Aa1, because of the country's significant credit strengths. These include (i) a highly competitive, well-diversified economy; (ii) a strong track record of fiscal consolidation and a robust institutional structure; and (iii) a favourable debt structure, with supportive domestic demand for government debt, the longest average maturity structure (15 years) among all highly rated sovereigns globally and the resulting reduced interest rate risk on UK debt.

Moody's could also downgrade the UK's government debt rating further in the event of an additional material deterioration in the country's economic prospects or reduced political commitment to fiscal consolidation.

Sounds like they're pro-austerity to me.

http://www.moodys.com/research/Moodys-downgrades-UKs-government-bond-rating-to-Aa1-from-Aaa--PR_266844

toby3000

Generali wrote: »

Thatcher's Governments closed pits that were loss making in order to privatise an industry. Why should coal miners be subsidised by taxpayers in general? I work in a bank and I think banks should get the subsidy instead. .

Let's be honest, closing the mines has been a bit of a false economy in the long run, since I dread to think how many billions the social and economic costs of the lose of British industry has been. A cousin worked in the German mines, and when they closed them there was a huge level of support to avoid them becoming unemployed.

Moby

toby3000 wrote: »

Let's be honest, closing the mines has been a bit of a false economy in the long run, since I dread to think how many billions the social and economic costs of the lose of British industry has been. A cousin worked in the German mines, and when they closed them there was a huge level of support to avoid them becoming unemployed.

Same as the great Thatcher council property sell off. Now so much social housing is in the hands of Rachmann landlords, charging exorbitant rents....which we are all paying for through the benefit system. Thatcher has soooo soo much to answer for!

Moby

Wookster wrote: »

I saw that. She was just embarrassing. I really hope labour get in at the next election and complete the work they started.

Feel threatened by a strong black woman do we?;)

Mr._Pricklepants

Moby wrote: »

Deluded. Heseltine is now a shadow of his former self.:rotfl:

It was painful to watch him going confrontational with Hitchens about the armed forces, unable to remember what was said only moments earlier:o

PaulF81

Guy was always a pollock. Turncoat too, stabbing Maggie in the back like that.

wotsthat

I doubt the credentials of anyone that wants to go on Question Time. More and more it's about making a point well (to get a round of applause) - seems not to matter much what the point actually is.

Graham_Devon

Masomnia wrote: »

Really?





Sounds like they're pro-austerity to me.

http://www.moodys.com/research/Moodys-downgrades-UKs-government-bond-rating-to-Aa1-from-Aaa--PR_266844

From what I have seen on the news we've lost the rating because we haven't had enough austerity, and therefore haven't reduced the debts quick enough.

This is not good for Osborne no matter which way you cut it. So those who see it as an opportunity for labour should really stop confusing the issue as there is absolutely no need. This is about lack of austerity, not too much of it.

That's the reason Ed Balls actually said something different this morning and didn't say "cutting too far, too fast" as he usually does. I actually noticed he didn't say it for once!

Politically, for osborne, it isn't good. No matter what the reasons for the loss are, it happened on his watch and sometimes politics doesn't care why or how it happened, just who it happened under. It may be game over for him.

On a note attached to this news, I'm begining to wish the coalition would break up and force a general election which labour win. Labour are going to get a lot of undeserved praise over the next couple of years. Praise for doing absolutely nothing.

PaulF81

Yep. I sometimes wish labour had gotten in last time. Sometimes the system has to be completely destroyed before it can be fixed.