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By (user no longer on site) OP
over a year ago
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So George Osborne has missed his target for 2013/14 by a meagre £90bn, with a deficit which is about £110bn and the 5th highest in history. National debt is now equivalent to about £1.25trillion, or £50k per household. For those who think things are tough, it is only going to get tougher. So where do you start trying to balance the books, more taxation for hard working families or further cuts to the welfare state? |
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By (user no longer on site)
over a year ago
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Further cuts to the Welfare State, including those "non-benefit" benefits known as Child Benefit.
Oh, and raise interest rates to a reasonable, effective level. |
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By (user no longer on site)
over a year ago
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"I think the screws will really tighten if the conservative party get in in 2015. "
And you think Labours plans to borrow (heavily and fritter away the money) their way out of trouble is a good idea? |
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"I think the screws will really tighten if the conservative party get in in 2015.
And you think Labours plans to borrow (heavily and fritter away the money) their way out of trouble is a good idea?"
Don't make assumptions about my views on politics and economics. |
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By (user no longer on site)
over a year ago
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"A long hard look should be taken at the foreign aid budget too."
A bloody long hard look!!! All very well people slamming things like child benefit, but how about putting the higher rate tax back up? Toffs looking after their own that was!  |
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By (user no longer on site)
over a year ago
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"I think the screws will really tighten if the conservative party get in in 2015.
And you think Labours plans to borrow (heavily and fritter away the money) their way out of trouble is a good idea?
Don't make assumptions about my views on politics and economics. "
I guess that's a "Don't Know" then. |
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By (user no longer on site)
over a year ago
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Raise the interest rate then you have an even bigger social housing problem when millions can't afford their payments on top of increased household bills, which have spiralled since the collapse.
Get rid of Hs2x £50bn, bin trident and scrap renewal £130bn, reduce fuel duty by a decent amount to allow hauliers and industry to get goods about cheaper thus lowering the costs to peoples every day lives and, in turn, making them then buy more. Free childcare to allow both parents to work, long term investment and tax gains.
Re war, said to Daisy this morning and none of the press seem to have made anything of it yet; US moving troops to Poland etc for 'training' - yeah right. Here comes Cameron's get out of jail card... |
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"http://youtu.be/IOiUrF74F14
Would you care to give any kind of a hint about this please? I'm certainly not going to watch YouTube vids on my payg data plan, thank you. X"
Not asking anyone to watch it, its there for anyone that does.
its a 4 min video about crooks in the system stealing money from the people.
I think its worth the watch personaly but certainly not holding a gun to your head.
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By (user no longer on site) OP
over a year ago
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"Raise the interest rate then you have an even bigger social housing problem when millions can't afford their payments on top of increased household bills, which have spiralled since the collapse.
Get rid of Hs2x £50bn, bin trident and scrap renewal £130bn, reduce fuel duty by a decent amount to allow hauliers and industry to get goods about cheaper thus lowering the costs to peoples every day lives and, in turn, making them then buy more. Free childcare to allow both parents to work, long term investment and tax gains.
Re war, said to Daisy this morning and none of the press seem to have made anything of it yet; US moving troops to Poland etc for 'training' - yeah right. Here comes Cameron's get out of jail card..."
Most of your suggestions are future schemes which aren't contributing to the current deficit. It is like saying a household is spending much more than it is earning but it will all be ok because we aren't going to build the extension we were thinking of.
The issue we have is that without significant increases in tax revenue through growth in the economy we as a nation are still spending far too much relative to what we are earning thus leading to an ever increasing national debt. One may argue that the UK will always be able to raise and finance debt but it is a dangerous assumption. Something has to give. I guess the question is where the extra burden will fall. Political battle lines are no doubt being drawn as we speak. |
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By (user no longer on site)
over a year ago
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a low interest rate for there mortgage is the only reason thousands of households are just about keeping there heads above water and once those rates go up a lot of ppl will be going under . |
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By (user no longer on site)
over a year ago
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"Make the banks pay back the bailouts.
Increase income tax.
"
I wonder - I've not got the numbers and the maths is likely to be beyond me - what if income was taxed less, and purchases, particularly of luxury/expensive items increased....
could that work? |
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By (user no longer on site)
over a year ago
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"Leave the EU, instant saving of £50 million per day.  "
they would just give it away in foreign aid instead of spending it on ppl that need it here.we are supposed to be a rich country yet we have food banks popping up everywhere its bloody disgusting and shameful  |
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Surely someone at the Royal Mint needs to get their finger out and just print some more notes....
If they are struggling for capacity, just stop printing fivers and print more fifty's!!
Problem solved  |
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The tax laws need seriously overhauling. Too may loopholes allow large multinationals to escape tax liability. I don't like what they do, but on the other hand I don't blame them either. Were I in their shoes I would do the same. Ultimately, the blame lies with the treasury as the formulator of the tax laws. |
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"Surely someone at the Royal Mint needs to get their finger out and just print some more notes....
If they are struggling for capacity, just stop printing fivers and print more fifty's!!
Problem solved "
Please tell me you're not serious. Ever heard of the Weimar republic? |
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By (user no longer on site) OP
over a year ago
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"Surely someone at the Royal Mint needs to get their finger out and just print some more notes....
If they are struggling for capacity, just stop printing fivers and print more fifty's!!
Problem solved "
They have been doing that for 5 years, partly the reason why we have some decent growth figures at the moment but you have to fear for longer term inflation and the potential upward pressure on interest rates. The problem is like a big water balloon, you press one side to solve an issue and a problem squirts out elsewhere |
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"Leave the EU, instant saving of £50 million per day.
they would just give it away in foreign aid instead of spending it on ppl that need it here.we are supposed to be a rich country yet we have food banks popping up everywhere its bloody disgusting and shameful "
I agree, its stupid that we are giving millions in aid to countries like India, when they have their own space programme. Foreign aid should be cut, need to sort out poverty at home before we start to help other countries. |
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"Surely someone at the Royal Mint needs to get their finger out and just print some more notes....
If they are struggling for capacity, just stop printing fivers and print more fifty's!!
Problem solved
Please tell me you're not serious. Ever heard of the Weimar republic?"
Of course I was serious |
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By (user no longer on site)
over a year ago
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The numbers themselves don't actually mean anything and national debt as a proportion of gross Domestic product isn't any where as high As it was for most of the last century. The numbers are used to justify slashing services and Privatising. Those that avoid taxes and a rapacious city are more of a parasite to the nation than the poor sod on benefits who seems to take the brunt of it and in some perverse way seems to be the scape goat |
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By (user no longer on site)
over a year ago
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"So George Osborne has missed his target for 2013/14 by a meagre £90bn, with a deficit which is about £110bn and the 5th highest in history. National debt is now equivalent to about £1.25trillion, or £50k per household. For those who think things are tough, it is only going to get tougher. So where do you start trying to balance the books, more taxation for hard working families or further cuts to the welfare state? "
Just do an Iceland. I'll bet there is more debt in the world than there is money. It's all lies, so fuck it... |
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By (user no longer on site)
over a year ago
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"Raise the interest rate then you have an even bigger social housing problem when millions can't afford their payments on top of increased household bills, which have spiralled since the collapse.
Get rid of Hs2x £50bn, bin trident and scrap renewal £130bn, reduce fuel duty by a decent amount to allow hauliers and industry to get goods about cheaper thus lowering the costs to peoples every day lives and, in turn, making them then buy more. Free childcare to allow both parents to work, long term investment and tax gains.
Re war, said to Daisy this morning and none of the press seem to have made anything of it yet; US moving troops to Poland etc for 'training' - yeah right. Here comes Cameron's get out of jail card...
Most of your suggestions are future schemes which aren't contributing to the current deficit. It is like saying a household is spending much more than it is earning but it will all be ok because we aren't going to build the extension we were thinking of.
The issue we have is that without significant increases in tax revenue through growth in the economy we as a nation are still spending far too much relative to what we are earning thus leading to an ever increasing national debt. One may argue that the UK will always be able to raise and finance debt but it is a dangerous assumption. Something has to give. I guess the question is where the extra burden will fall. Political battle lines are no doubt being drawn as we speak."
Fuel duty can be instant and the impact great. It will generate business, income, tax, public spending. Yes the things there are future issues, but then again so is the deficit. Sure it's here now but there is no magic fix, therefore the solution lies in the future. They won't, however, do any of those as the cabinet most probably have their fingers in energy, defence and banking pies. |
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By (user no longer on site)
over a year ago
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"Make the banks pay back the bailouts.
Increase income tax.
I wonder - I've not got the numbers and the maths is likely to be beyond me - what if income was taxed less, and purchases, particularly of luxury/expensive items increased....
could that work?"
No, people would just buy less, or borrow more. Plus the sales of luxury items wouldn't make up for a reduction in taxed income.
Interesting idea though! |
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"The numbers themselves don't actually mean anything and national debt as a proportion of gross Domestic product isn't any where as high As it was for most of the last century. The numbers are used to justify slashing services and Privatising. Those that avoid taxes and a rapacious city are more of a parasite to the nation than the poor sod on benefits who seems to
take the brunt of it and in some
perverse way seems to be the scape
goat"
"we're all in it together" remember, in this "big society". We're all equal, except some are more equal than others.... |
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By *ee VianteWoman
over a year ago
Somewhere in North Norfolk |
Looking at the state of this country and the attitudes of the politicians and the wealthy few actually depresses me to such an extent I could easily string myself up from the rafters.
No joke.
The last few years have been a nightmare. If it gets tougher I don't think I'll survive. |
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"Looking at the state of this country and the attitudes of the politicians and the wealthy few actually depresses me to such an extent I could easily string myself up from the rafters.
No joke.
The last few years have been a nightmare. If it gets tougher I don't think
I'll survive. "
I don't think the current government cares very much about how difficult some people are finding it at the moment. After all, a significant number of the Cabinet are millionaires and went to Eton. They have little concept of poverty. I read an article and this guy asked a group of Tory politicians what kept them awake at night. 'Nothing', they said. He pushed them to answer regarding finances and one said, (in all seriousness) "school fees". |
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Ok, I'll toss my hat into the ring with my idea.
We need to get the economy moving again, and I think the way to to it is to reduce the price of diesel. A lot. It's not rocket science folks. You put diesel up, you put everything up. As you read this post, look around you. Unless you are in the middle of a field just about everything you see has been on a truck at some time.
Maybe it would cost too much to slash duty on diesel, so instead let every Hgv with a UK operators license run on red diesel instead. This would mean cheaper transport costs, cheaper goods, and people's money goes further, so more disposable income to spend on other stuff, stimulating growth. And so on etc. |
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By (user no longer on site) OP
over a year ago
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"Ok, I'll toss my hat into the ring with my idea.
We need to get the economy moving again, and I think the way to to it is to reduce the price of diesel. A lot. It's not rocket science folks. You put diesel up, you put everything up. As you read this post, look around you. Unless you are in the middle of a field just about everything you see has been on a truck at some time.
Maybe it would cost too much to slash duty on diesel, so instead let every Hgv with a UK operators license run on red diesel instead. This would mean cheaper transport costs, cheaper goods, and people's money goes further, so more disposable income to spend on other stuff, stimulating growth. And so on etc. "
The big assumption being that the growth in goods and services will lead to a tax take higher than the amount raised by directly taxing the fuel. |
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By (user no longer on site)
over a year ago
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A Robert Peston, BBC article for you :
http://www.bbc.co.uk/news/business-27108059
Including this paragraph :"According to the updated analysis, the UK's total debts - the aggregate of household debt, business debt, banking or financial debt and government debt - was equivalent to 484% of GDP, or national output, towards the end of last year."
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By (user no longer on site)
over a year ago
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"Ok, I'll toss my hat into the ring with my idea.
We need to get the economy moving again, and I think the way to to it is to reduce the price of diesel. A lot. It's not rocket science folks. You put diesel up, you put everything up. As you read this post, look around you. Unless you are in the middle of a field just about everything you see has been on a truck at some time.
Maybe it would cost too much to slash duty on diesel, so instead let every Hgv with a UK operators license run on red diesel instead. This would mean cheaper transport costs, cheaper goods, and people's money goes further, so more disposable income to spend on other stuff, stimulating growth. And so on etc. "
As I said |
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Rich people can afford to finance debt more easily than poor people, so hey, let's cut welfare to the poor and give tax cuts to the rich! More food banks than ever before.....2008, 2009, 2010, 2011, 2012, 2013, 2014..... |
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By (user no longer on site)
over a year ago
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I am in agreement with cutting fuel duty as it will help haulage business to survive but not sure it will result in cheaper goods, A little naive to think that sellers of luxury items or even consumables will pass on the saving
Him |
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"Ok, I'll toss my hat into the ring with my idea.
We need to get the economy moving again, and I think the way to to it is to reduce the price of diesel. A lot. It's not rocket science folks. You put diesel up, you put everything up. As you read this post, look around you. Unless you are in the middle of a field just about everything you see has been on a truck at some time.
Maybe it would cost too much to slash duty on diesel, so instead let every Hgv with a UK operators license run on red diesel instead. This would mean cheaper transport costs, cheaper goods, and people's money goes further, so more disposable income to spend on other stuff, stimulating growth. And so on etc.
As I said "
True, but from a tax take point of view, my proposal is far cheaper to do than a blanket reduction in taxes.
It also has the additional benefit of excluding foreign haulers from the scheme unless they submit to the UK licensing scheme, with all the implications for servicing and maintenance that goes with it.
It wouldn't be universally popular though, as it would exclude many business users, such ad taxi and van operators. But its a step in the right direction, IMHO. |
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By (user no longer on site)
over a year ago
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Nothing to do with taxes etc. will do anything other than benefit those with most wealth.
We need a new currency and a financial system based on orgasm exchange. |
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By (user no longer on site)
over a year ago
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Here's a simple plan.
Remove all fuel duty on road vehicles, incl taxi's.
Increase Personal Tax allowances to £20,000 per year.
Reduce VAT to a maximum of 5% ( fuck the EU's minimum of 15%, desired target of 21%)
Now, what could possibly go wrong? |
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By *eavenNhellCouple
over a year ago
carrbrook stalybridge |
"I am in agreement with cutting fuel duty as it will help haulage business to survive but not sure it will result in cheaper goods, A little naive to think that sellers of luxury items or even consumables will pass on the saving
Him"
and so would i agree with a cut in fuel duty for hauliers if i knew i would benefit from a pay rise instead of being fobbed off with "we have to make savings" as the MD drives away in yet another brand new £60k Range Rover |
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"I am in agreement with cutting fuel duty as it will help haulage business to survive but not sure it will result in cheaper goods, A little naive to think that sellers of luxury items or even consumables will pass on the saving
Him"
You're right to be sceptical. But I would answer by saying market forces. The likes of lidl and aldi have been making inroads into the likes of Tescos market share because they can cut the costs. It's naive to assume that all the savings will be passed on to the consumer, but someone will use the opportunity to grab a larger share of their respective market.
And don't forget such a scheme would impact every facet of the economy, from raw materials to finished goods. |
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"Nothing to do with taxes etc. will do anything other than benefit those with most wealth.
We need a new currency and a financial system based on orgasm exchange. "
indeed.
it really wont matter if its labour, conservatives, or any other political party in power.
Nothing will change for the better, it never does.
The whole system is broke, it only benefits the very rich.
if a system cant benefit everyone then that system has (in the words of jacque fresco) "got to go".
We are human beings that are capable of so much, we are evolving, our technology is evolving so fast that 10 hours productivity today would have took entire week 40 years ago.
And yes we are still using an ourdated system that the powers that be want to keep inplace because it benefits them and only them.
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By (user no longer on site)
over a year ago
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Do people really understand the figures?
As a previos poster stated, our debt to GDP ratio is lower now than it was for most of the 20th century.
Is it more important to increase GDP or to lower debt?
Is it better to focus on increasing income or to focus on reducing actual debt? After all an increased income makes the debt less of a burden.
For me growth is the key. Any cuts that have a negative effect on growth or GDP are a short term measure made for political reasons.
A lot of the cuts are politically motivated. |
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