Budget 2018

Malthusian

Clifford_Pope wrote: »

Funny to recall that many years ago Hugh Dalton resigned as chancellor because he had inadvertently given a hint of something in his budget speech while chatting to a journalist on his walk from Downing Street to the Commons to deliver it.

That makes a better story for Dalton than his part in Labour's mishandling of the post-war economy, which meant the UK was subject to even worse rationing after the war than it had been during it. The Sterling crisis of 1947 had already made Dalton's position very weak when he made his comment to a journalist.

I really can't see it as a "pre-election Budget". (Brenda from Bristol: "Not another one??!?!") The Tories aren't going to make that mistake twice. They have now won three elections in a row and the next one is Labour's turn. To overcome the gigantic natural disadvantage of having won three in a row and being in power for 8-9 years, and win a fourth, they need two things:

1) Corbyn as Labour leader

2) A booming post-Brexit economy that makes everyone feel good and willing to vote for "stay the course".

2) is a possibility in the next two or three years but I wouldn't put any money on it, despite my psychological Brexiteer / political Remainer allegiance. Economies are random.

Silvertabby

Malthusian wrote: »

That makes a better story for Dalton than his part in Labour's mishandling of the post-war economy, which meant the UK was subject to even worse rationing after the war than it had been during it. The Sterling crisis of 1947 had already made Dalton's position very weak when he made his comment to a journalist.

I really can't see it as a "pre-election Budget". (Brenda from Bristol: "Not another one??!?!") The Tories aren't going to make that mistake twice. They have now won three elections in a row and the next one is Labour's turn. To overcome the gigantic natural disadvantage of having won three in a row and being in power for 8-9 years, and win a fourth, they need two things:

1) Corbyn as Labour leader

2) A booming post-Brexit economy that makes everyone feel good and willing to vote for "stay the course".

2) is a possibility in the next two or three years but I wouldn't put any money on it, despite my psychological Brexiteer / political Remainer allegiance. Economies are random.

I have this awful dread that, come the next election, Corbyn will buy votes by pretending to give in to the ridiculous WASPI demands. And that many women voters (not me !) will be stupid enough to believe him. Even when he goes on to say that 'they've looked at it again and it isn't possible because they would have to pay men their pensions from 60 as well' (a la sex equality legislation) the damage will have been done.

Paul_Herring

I have this awful dread that, come the next election, Corbyn will buy votes by pretending to give in to the ridiculous WASPI demands.

He could always offer to forgive all student debts again for the younger voters...

Zola.

How is the UK ever supposed to pay back debt when its in the trillions? As of Q1 of last year, the debt total amounted to £1.78 trillion, or 86.58% of total GDP.

How are we ever to be in the black? Its impossible surely?

This is a part of economics I just don't understand, does anyone?

Silvertabby

Paul_Herring wrote: »

He could always offer to forgive all student debts again for the younger voters...

.... but how many of his kiddie voters just heard him say 'no student debts' and are happily ignoring his later addition '.... if possible'. Not only is next door's 18 year old adamant that her uni education AND living expenses will be 'free' under a Labour government, she also believes that it was the Tories who introduced tuition fees in the first place!

Twopints

DeletedUser wrote: »

Ah, so you advocate someone "knowing her stuff" regarding the presentation of a budget, whose education was in history, and regularly presents political programmes v someone whose education was in science and technology, and regularly presents business and money programmes. :rotfl:

Do you think that the budget is not political? :rotfl:

DairyQueen

Silvertabby wrote: »

I have this awful dread that, come the next election, Corbyn will buy votes by pretending to give in to the ridiculous WASPI demands.

Shouldn't think so. There are too few of them and they are the 'wrong' age demographic. He will buy his votes using the successful formula he used at the last election. Heavy canvassing within the idealistic hotbeds of young leftism (the universities). Universities have the advantage of containing sufficient (temporary) voters to totally screw the majority view of the indigenous, long term residents of the constituencies in which they are located.

Young voters are generally ignorant of 'old labour' and the disastrous events of the 1970s under those political regimes. Many think that JC represents something 'new'. They imagine a world of wonderful equality where everyone eats Ambrosia and nobody has to pay for it.

If only.

If he can galvanise the very young again - and it was a masterful piece of election engineering last time - then we may as well emigrate now and leave the young to learn the hard way (as we did).

Those of us who lived through those years (and that includes the WASPIs) know that if it waddles and quacks then it's a duck.

Thrugelmir

Zola. wrote: »

How are we ever to be in the black? Its impossible surely?

Run a budget surplus and borrow less.

Paul_Herring

Thrugelmir wrote: »

Run a budget surplus and borrow less.

It'll never happen. Too many votes to be bought.

By both sides.

DairyQueen

Paul_Herring wrote: »

He could always offer to forgive all student debts again for the younger voters...

I bet he already has that one capitalised, bolded and underlined in Labour's election manifesto.;)