Posts Tagged ‘borrowing’
Posted by michael on April 27, 2010
The UK faces the deepest spending cuts since the late 1970s if the three main parties are to meet their budget commitments, according to the Institute for Fiscal Studies (IFS).
The years between 2011 and 2015 must see the largest cuts since 1976-80.
The IFS study predicts that that the Conservatives would need to make the biggest cuts whilst Labour would make the biggest tax rises.
So we apparently have a big difference between the two main parties. I assume that where services are cut, both parties will do it in a sensible manner by making the services more efficient and by delaying expenditure on computer systems, better offices and increased pay rises!
If you want to pay increased taxes for everything you buy then simply vote Labour. The government will be able to continue spending money anywhere it wants. Effectively this means that people are giving more of their money to the government to spend! The management of the UK economy by Labour over the last 14 years has been lousy. Why should anyone expect their abilities to govern are going to be any better in the future! Would we be in this mess if Labour had governed the UK properly over the last 14 years?
If you want to keep more of your money to spend as you want, then vote Conservative. Their emphasis is on cutting waste . Spending cuts won’t necessarily be any better or worse than under Labour, despite the scare tactics from Labour!
Neither party had given details of their spending cuts.
Posted in benefits, Blogroll, credit crunch, debt, election, national health service, nhs, recession, tax, UK Economy, Uncategorized | Tagged: borrowing, brown, david cameron, debt, economy, government, green tax, nhs, recession, UK Economy | Leave a Comment »
Posted by michael on April 24, 2010
The polls are moving in the right direction for Cameron. Still time to get a majority over Labour.
People must be beginning to recognise that Brown and New Labour have made such a mess of the UK economy that it would be foolish to expect them to able to fix the problems that have cause.
After all, the only thing that Brown and New Labour have proved so far is that they can take the Golden Inheritance from the last Conservative government and turn it into the biggest financial mess the UK has had!!
And Gordon and the cabinet did this all on their own, without the help of anyone one else!
Posted in Blogroll, credit crunch, financial, labour, nhs, recession, UK Economy, Uncategorized, war | Tagged: borrowing, credit crunch, debt, expenses, nhs, repossession, tax, tax increases, UK Economy | Leave a Comment »
Posted by michael on April 23, 2010
0.2% growth in last three months.
How disappointing! This is such a small increase that it effectively represents no growth. It could easily be revised into a loss or, if we are lucky, it could be revised upwards.
Until we see the revised figures then the growth figure for the first three months of 2010 is effectively zero.
Brown expected big things from these figures. Recovery is under way he has been saying. Clearly he has been WRONG!!!!
These growth figures do not represent an economy where recovery is under way.
Posted in Blogroll, credit crunch, debt, recession, UK Economy, Uncategorized | Tagged: borrowing, cost of living, credit crunch, families, gordon brown, government, labour, new labour, recession, UK Economy | Leave a Comment »
Posted by michael on April 14, 2010
Brown admits mistakes: I should have reigned in the reckless banks.
This is an amazing confession!! It is a personal admittance that Brown failed to regulate the UK financial industries properly
before the recession hit.
Brown did not see the recession coming because of this failure of regulation. There is no one else to blame, it as simple as that.
Plenty of other people saw the risks in what was happening in the UK and around the world. They cleared their debts, sold properties, many moved abroad.
But this government , under Brown’s management, did not respond to events around the globe. Yes it was a global recession. But the UK was not prepared for it, and the UK has probably suffered more than most other countries who are now mostly out of serious problems.
The UK is just starting the painful process of cutting jobs, cutting services, taxing everyone significantly more, and this process will go on for years.
Brown was the man in charge. It is right that he and his government should be rejected by the voters.
Let the Conservatives fix what Gordon Brown and New Labour messed up!!!!
Posted in Blogroll, credit crunch, economy, financial, labour, national health service, recession, tax, UK Economy, Uncategorized | Tagged: bankers, borrowing, credit crunch, gordon brown, government, iraq war, labour, recession, UK Economy | Leave a Comment »
Posted by michael on April 12, 2010
When you look at what Brown is saying and what he is not saying, about VAT rates, it is absolutely clear that he is planning a VAT rise if he gets back into power.
Looking at the VAT rates of the Euro countries, the smaller, weaker countries (like the UK is now!) have VAT rates in excess of 20%. I would not be surprised if the UK went to 21% VAT in two steps over 12 months.
Increasing VAT is most harmful to the lower paid. Those people on low, fixed incomes are going to be hit very much harder than those who earn a reasonable income.
If VAT is increased then Brown is going to harm Labour’s natural supporters more than those who vote for the other parties.
Posted in Blogroll, economy, tax, UK Economy, Uncategorized, utility | Tagged: borrowing, credit crunch, economy, election, gordon brown, government, greedy, recession, UK Economy | Leave a Comment »
Posted by michael on April 6, 2010
At last we have the opportunity to express our views on the way that the UK has been governed for the last 11 years.
In that time our government took the UK to an illegal war in Iraq, and subsequently more to war in Afghanistan. As a result of Blair and Brown the UK is now in constant risk of terrorist attacks on the ordinary people.
New Labour took the Golden Inheritance of the last Conservative government and turned it into the biggest debt the UK has ever had.
People have lost their pensions because of the extra taxes that brown has imposed on pension payments. Many of these people will not be able to afford to retire!
There has been many new schools and hospitals over this time. Most of the expenditure is debt for future generations to pay off! It doesn’t seem to me that it is good governance to spend public money like water and expect future generations to pay the debts!
But the real failure of New Labour is their inability to manage the UK economy. Like children in a sweet shop, there seems to be no thoughts in New Labours minds that restraint is needed when spending public money and borrowing money that the public have to repay!
Our economy is shot to pieces thanks to Gordon. How can so much debt be raised with so little to show for it?
And don’t blame the recession. Brown failed to see it coming. Brown failed to regulate the UK financial industry to stop the meltdown that occurred from the greed of the financial markets. It was Brown’s job to ensure that the financial markets were not allowed to put themselves, and the UK, at risk. He failed!!!
I consider that this New Labour government is the worst government that the UK has had in modern times. They have brought the UK economy close to bankruptcy and the people of the UK will have to pay the resulting debts for many years to come!
Posted in Blogroll, Conservatives, credit crunch, debt, economy, labour, national health service, recession, tax, UK Economy, Uncategorized, war | Tagged: afghanistan, bankers, borrowing, credit crunch, david cameron, debt, gordon brown, government, iraq war, recession, repossession, UK Economy | 1 Comment »
Posted by michael on March 24, 2010
Well, it didn’t take long for the budget figures to start to unravel!!!!! The Stamp Duty increase for £1m homes will not pay for first-time buyers’ tax holiday!
This was just a political speech even though the UK is desperate for some real, effective policies to sort out the mess following 14 years of brown, darling and blair!
Labour put their own interests before the needs of the UK. That is enough of a reason for them to be chucked out of office!
Posted in Blogroll, credit crunch, debt, economy, election, financial, iraq, labour, national health service, UK Economy, Uncategorized, utility | Tagged: bankers, borrowing, conservative, credit crunch, economy, families, gordon brown, iraq war, parliament, repossession, tax, UK Economy | 1 Comment »
Posted by michael on November 8, 2009
Gordon Brown said:
“I am naturally concerned that the taxpayer gets a fair deal – especially that the taxpayer gets a fair deal from the institutions that in the last year have benefited massively from support across the world.”
So does Gordon Brown think that this is a fair deal for the taxpayers?
Borrowing billions of pounds in their name and expecting them to pay extra taxes for the next 25 years in order to pay the debts?
I just wonder how much would need to have been borrowed to prevent the closure of shops like Woolworths, which employed lots of people.
And I have also said many times that these banks should not be allowed to get rid of any staff on a non-voluntary basis. They have been given billions of taxpayers money, yet are allowed to fire staff! This not only adds to the unemployment levels, brings the miseries of families losing homes, and removes yet more spending power by people in employment.
There does not appear to be any joined up thinking in the way that Brown and Darling are managing the UK economy!
Posted in Blogroll, Conservatives, credit crunch, debt, economy, financial, labour, recession, UK Economy, Uncategorized | Tagged: bankers, borrowing, conservative, david cameron, government, labour, recession, UK Economy | Leave a Comment »
Posted by michael on November 3, 2009
All very well Johnson admitting that Labour have ‘made mistakes’ on immigration policy!
But New Labour’s real failure is in almost every area of government in that they completely FAILED to listen to any one else and implemented policies that were obviously going to fail!!
Brown and New Labour would appear to have no officials or ‘experts’ who are prepared to tell their bosses of potential problems with their policies.
Perhaps Brown and New Labour really believed that only employing ‘yes’ men and women would be beneficial to them!!
Whatever the reason is, this government has consistently implemented policies that have simply failed to work (and been very expensive).
All very well Johnson admitting that Labour have ‘made mistakes’ on immigration policy!
But New Labour’s real failure is in almost every area of government in that they completely FAILED to listen to any one else and implemented policies that were obviously going to fail!!
Brown and New Labour would appear to have no officials or ‘experts’ who are prepared to tell their bosses of potential problems with their policies. Perhaps Brown and New Labour really believed that only employing ‘yes’ men and women would be beneficial to them!!
Whatever the reason is, this government has consistently implemented policies that have simply failed to work (and been very expensive). They have consistently introduced computer systems that fail to achieve their aims (and end up being dumped or rewritten).They have consistently announced policies that failed to work.
There does seem to have been a ‘hidden agenda’ with New labour’s immigration policies. It would seem to be that their failure to manage immigration was in fact what the government wanted!
Did Brown really need to introduce policies to solve the credit crunch problems which would seem to have resulted in bigger, but different, problems for the UK!
Obviously some of what Brown has done regarding the credit crunch was needed. But was it really a rational choice to put the UK into such massive debt? It is beginning to look like the medicine may have cured the patient but, unfortunately, the patient died from the effects of the medicine!
Posted in Blogroll, Conservatives, credit crunch, financial, national health service, recession, UK Economy, Uncategorized | Tagged: bankers, borrowing, david cameron, gordon brown, government, labour, recession, repossession, UK Economy | Leave a Comment »
Posted by michael on July 8, 2009
Alistair Darling announced Labour’s plans for a new council to oversee the ativities of the Treasury, the FSA and the Bank of England. But he has kept the current system of regulation.
In the House of Commons, Darling said that financial institutions needed to be better managed. But he and Brown were the the people responsible for managing the financial services to prevent anything like the Credit Crunch from happening!!!!
Why was this announced when Brown was out of the country at the G8 meeting? He was actually the man in charge throughout the, first as chancellor and then as PM. Surely he should have been the person to announce the government’s plans to control the financial institutions? Or doesn’t he like owning up to getting things wrong!
Darling added, “We need a change of culture in the banks and their boardrooms, with pay practices that are focused on long-term stability, and not on short-term profit”. Does he mean that in the last 10 years there has been no long-term stability and that the focus was on short-term profit?
Shadow chancellor George Osborne said the Conservatives would abolish the current system and give supervision powers to the Bank of England.
I liked the response of the Liberal Democrat Treasury spokesman Vince Cable. He said ‘This is not so much a White Paper as a blank paper’.
Posted in Blogroll, Conservatives, credit crunch, debt, economy, financial, labour, Lib Dems, recession, UK Economy, Uncategorized | Tagged: abuse, bank, banker, bankers, borrowing, brown, conservative, credit crunch, david cameron, economy, gordon brown, government, labour, recession, UK Economy | Leave a Comment »
