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Government policy economically illiterate... Britain's Fiscal Failure
Comments
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I don't think the current lot have got a clue, but then I don't see increasing spending is the answer either. I think we all need to realise there is no 'quick fix' to the problems we are facing and anything the government do is just tinkering at the edges.
They inherited a right mess and will hand over a right mess but for the electorate to think that politicians can somehow magic us out of where we are is wrong. We have to accept things are going to be bad for many years yet, after all we have spent many years living beyond our means, its only reasonable to expect it to take many years to sort it all out.0 -
angrypirate wrote: »Everyone says about government borrow when in recession but the problem was the Labour government were borrowing when we werent in recession. They elected not to make fix the roof when the sun was always shining because they were convinced it was always going to shine. Surely a party who cannot even manage their own finances shouldnt be allowed to manage the country's?
You do realise that none of that is true don't you?0 -
Actually cutting spending would be a start.
Not wasting billions in change programmes for the sake of it and ring fencing Aid Programs"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 -
Just like his policies!HAMISH_MCTAVISH wrote: »So it turns out Cameron's speech was not just economically illiterate... It was also barely comprehensible when read.:A:dance:1+1+1=1:dance::A
"Marleyboy you are a legend!"
MarleyBoy "You are the Greatest"
Marleyboy You Are A Legend!
Marleyboy speaks sense
marleyboy (total legend)
Marleyboy - You are, indeed, a legend.0 -
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Lets disect what i saidYou do realise that none of that is true don't you?
I was referring to Keynsian economics where Keynes said that in a recession, governments should borrow and spend through a recession. The problem UK have is that we were borrowing too much prior to the recession to make this option viable.Everyone says about government borrow when in recession but the problem was the Labour government were borrowing when we werent in recession.
The only years Labour ran a surplus in the budget was 1998-2001 (£0.7bn, 12bn, 16.7bn and 8.4bn). 2002 onwards the government ran a deficit, initially £19bn in 02, then £34bn in 03, £37bn in 04, £42bn in 05 and, £32bn in 06 and £36bn in 07. In 08 this jumped up to £156bn. Now please explain to me how when i said "the Labour government were borrowing when we werent in recession" this wasnt the truth?
I am shamelessly paraphrasing Daniel Hannan here. Brown said he had abolished boom and bust. He thought the sun was always going to shine. He didnt make provisions for a rainy day. In 2008 the deficit jumped to £156bn. This doesnt include bank bailouts and the like.They elected not to make fix the roof when the sun was always shining because they were convinced it was always going to shine.
So shall we also take a second to wonder what the Labour Government might be doing so wrong for the deficit to more than quadruple in the space of 12 months? This is some serious negligence on the part of the Labour party and is inexcusable.
Anyone in private industry dealing with economics will tell you about sensitivity studies you do to see what your project is economically sensitive too and by how much. This tells me the Labour government didnt do anything like this, or if they did then they were even more negligent as they chose not to make any precautions.
Labour party are in debt. I dont have the link but in 07 (i think it was) the baliffs were knocking on the door at their HQ (literally) and their unsecured loans were secured by the unions - ie the unions once again bailed them out. They have had more financial problems since. Back in '10 when prescott ran for treasurer he was warning that labour were something like £20 million pounds in the red.Surely a party who cannot even manage their own finances shouldnt be allowed to manage the country's?
Now I have gone through my post, please explain where what I said wasn't true.0 -
I think the issue is we have a right wing party in a coalition government with a left wing party and they cant agree on anythingI don't think the current lot have got a clue, but then I don't see increasing spending is the answer either. I think we all need to realise there is no 'quick fix' to the problems we are facing and anything the government do is just tinkering at the edges.
They inherited a right mess and will hand over a right mess but for the electorate to think that politicians can somehow magic us out of where we are is wrong. We have to accept things are going to be bad for many years yet, after all we have spent many years living beyond our means, its only reasonable to expect it to take many years to sort it all out.
Ian Duncan Smith proposed changes to the welfare system that totaled up to £10bn of cuts. This was flatly rejected by the Lib Dems and by the time it got to Parliament, the cuts had been cut down to a mere £3bn. Right now its a weak attempt to tackle the deficit as every cut the Tories proposed is watered down by the Lib Dems. Havinig this coalition has left this country in a state of limbo with no actual proper biting policies that are truely tackling the recession and the deficit.0 -
angrypirate wrote: »I think the issue is we have a right wing party in a coalition government with a left wing party and they cant agree on anything
Ian Duncan Smith proposed changes to the welfare system that totaled up to £10bn of cuts. This was flatly rejected by the Lib Dems and by the time it got to Parliament, the cuts had been cut down to a mere £3bn. Right now its a weak attempt to tackle the deficit as every cut the Tories proposed is watered down by the Lib Dems. Havinig this coalition has left this country in a state of limbo with no actual proper biting policies that are truely tackling the recession and the deficit.
If the conservatives backed down by the magnitude you suggest it suggests to me the proposals were flawed and ill thought out to start with.
Back of fag packet calculations don't work out when introduced at macro levels.
It also suggest that the cuts weren't really available to make in the first place. Governments don't set out to give money away deliberately. They react to issues and problems without understanding the ramifications and are outwitted or don't put in place the correct control policies perhaps."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 -
What a shame - you might learn something - but I guess you are happy reading the Daily Mail and Telegraph
Now, now, this board would be so much the poorer without Wookster's constant drip feed of [STRIKE]drivel[/STRIKE] /links from the Daily Telegraph & Mail...
This is how I imagine Wooster lol
Just Jokin'!A journey of a thousand miles begins with a single step
Savings For Kids 1st Jan 2019 £16,112
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