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Osborne Loses It - Our Triple A Rating And Its Future
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They do seem to suggest that we need to cut more. To be fair other agencies may be more concerned about growth than cutting. Either way it's not good for the UK I suppose!“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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Originally Posted by Moby
Deluded. Heseltine is now a shadow of his former self.
Doesn't say much for the current opposition leader then that believes a 10p tax rate can be funded by those with houses worth over £2 million.
As for would cost each home owner £35,000 in tax every year to fund the proposal.
This man wishes to run the country. Not that's what I call deluded.........0 -
Yes really.
It's not the growth they are concerned about. It's the debt and the ability to service that debt without the required growth.
Seriously, how can you suggest it's anything different?
So what Balls is complaining about, and what he plans to do would risk another downgrade.The credit ratings agency also noted that the Government’s debt reduction programme faced significant “challenges” and that the UK’s huge debts are unlikely to “reverse before 2016”.
However, Moody’s, which is the first ratings agency to lower the UK from the highest rating, said the outlook on UK debt is stable and that any “fiscal loosening” would risk another downgrade.0 -
More cuts needed,
I would go for public sector pensions (yes again), as still too generous
Further council cuts (as I don't know anyone who has missed the 720,000 already made redundant).
Not so much a cut but suspend the green tax on household fuel(s) until we are growing again.
Looking at the job so far and on the whole and in comparison to Europe I think Osb has done a decent job. Having so much debt to start with was never going to be easy especially with the state of household finances.0 -
Graham_Devon wrote: »Yes really.
It's not the growth they are concerned about. It's the debt and the ability to service that debt without the required growth.
Seriously, how can you suggest it's anything different?
So what Balls is complaining about, and what he plans to do would risk another downgrade.
Don't you realise that growth increases govt income and reduces govt outgoings? If there was reasonable growth on the horizon, UK plc would still have a AAA rating.'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 -
Don't you realise that growth increases govt income and reduces govt outgoings? If there was reasonable growth on the horizon, UK plc would still have a AAA rating.
So go on, tell us where this growth is occurring, or likely to? It's certainly not in Europe - and I wouldn't bet on the USA, either.
The world's economy is currently stuffed (technical term) and anyone who believes blinky has any magical ability to create growth in the face of international conditions is nuts. That's another technical term., by the way.0 -
Thrugelmir wrote: »We are so quick to dismiss those that were successful in their own right before entering politics.
At least they have a track record of knowing how to manage finances!
No quick to dismiss panelists talking crap, BTW I didn't realise that Dianne Abbot had a track record of managing finances?'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 -
So go on, tell us where this growth is occurring, or likely to? It's certainly not in Europe - and I wouldn't bet on the USA, either.
The world's economy is currently stuffed (technical term) and anyone who believes blinky has any magical ability to create growth in the face of international conditions is nuts. That's another technical term., by the way.
What are you on about, I said there was no growth on the horizon and that was the main reason we lost the AAA, what don't you understand about that?'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 -
More cuts needed,
I would go for public sector pensions (yes again), as still too generous
Further council cuts (as I don't know anyone who has missed the 720,000 already made redundant).
Not so much a cut but suspend the green tax on household fuel(s) until we are growing again.
Looking at the job so far and on the whole and in comparison to Europe I think Osb has done a decent job. Having so much debt to start with was never going to be easy especially with the state of household finances.
Arguably Public Sector pensions should be transitioned away from the public purse into defined contribution schemes through the private sector. The government can't afford to lose the "cashflow" though.
Certainly a number of pensions in the NHS have been changed a couple of times in the last decade to reduce cost even before this latest meddling. Perhaps they should be left alone to see what effects those reductions in benefits and increased costs have done to rebalance the books first?
If you you don't know any people that are dependent on services provided by local authorities you won't know anybody that misses them.
With you on scrapping, reducing the green levies, and fuel duty escalators. Same goes for foreign aid.
He has done a job, whether it is any good I doubt we will ever know but it will cause many unforeseen ripples in years to come."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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