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If QE Was Withdrawn....
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Glen_Clark wrote: »So I think Osborne just wants to leave a poisoned chalice to his successor, as the last Tory Government did with the botched Privatisations.
Brown left an enormous debt pile...........
Be interesting to see kindly history judges him.0 -
Glen_Clark wrote: »What other explanation is there for Osborne's taxpayer guaranteed interest free loans on £600k sub prime mortgages?
Hehe. I'm not a fan, I think it's just a vote gatherer, but it isn't really a loan, HMG is buying an equity stake; and you will have to pay charges after the first 5 years. If you take the 25% "equity loan", you only have a beneficial interest in 75% of the house, even if it goes up in value.
Granted, it's still a subsidy as you get to live in the taxpayers' bit of the house rent free for 5 years.
Interestingly they are using RPI in the calculation of the fees from year 5, even though it isn't an official statistic any more!"Things are never so bad they can't be made worse" - Humphrey Bogart0 -
Originally Posted by Glen Clark
What other explanation is there for Osborne's taxpayer guaranteed interest free loans on £600k sub prime mortgages?
Sub prime?
Sub prime lenders included RBS and HBOS. Good to see another of Brown's peerages bit the dust today.0 -
grey_gym_sock wrote: »politics is a very attractive profession to psychopaths, because there is so much power if you get to the top.
Fair point. The last person you want as Prime Minister is somebody who really wants to be Prime Minister."Things are never so bad they can't be made worse" - Humphrey Bogart0 -
Glen_Clark wrote: »What other explanation is there for Osborne's taxpayer guaranteed interest free loans on £600k sub prime mortgages?
All the good rabbits have been used up over the years. All he has left are few runts in the bottom of the hat.
In a generation or so we have gone from being provident with assets, to heavily leveraged with few assets, to now needing to be helped to get into debt because we can't do it on our own*. The government is front loading the debt for us.
This and student loans.
Next they will want us to borrow our pension from somewhere.
*Not you, me or most of the posters here of course."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 -
Glen_Clark wrote: »But unions are still strong in the public sector, and the Government quickly backed down when unions resisted their attempts to reduce the (unaffordable) public sector pensions commitment.
Not as strong as the used to be.
The public sector pensions are being systematically eroded and terms diluted. Individuals are paying more for them. Death by a thousand cuts.
The fact that salaries are going up by 1% at best and haven't budged for years for many, means they are falling behind even if they are final salary rather than career average.
I wonder if teachers bonuses will be pensionable, once payment by results is introduced? Again another dillution if they aren't."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 "bonuses" for teachers?0
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BristolBob wrote: »What "bonuses" for teachers?
Caught something on the news about payment by results. Which usually means you get a basic level of pay, gradually eroded, topped up by bonuses if you meet objectives."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 -
Not really. Though of course they built a bit of wriggle room into their initial negotiating stance so that the customary formalities could be played out.Glen_Clark wrote: »But unions are still strong in the public sector, and the Government quickly backed down when unions resisted their attempts to reduce the (unaffordable) public sector pensions commitment."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
You heard wrong.grizzly1911 wrote: »Caught something on the news about payment by results. Which usually means you get a basic level of pay, gradually eroded, topped up by bonuses if you meet objectives.0
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