Thank god the Tories have been in power for the last 14 years, we’ve never had it so good. Phew. They’ll walk this election based on their record in government.Who do you think buys government bonds?
I have a suspicion you’re going to be left really disappointed when Labour win and admit the state can’t intervene everywhere and/or increase public expenditure significantly.
With respect, Socialists have never had the best reputation for economic management.
Good to see a high standard of political debate is being maintained. What was the essence of the message left by the last outgoing Labour government? Words to the effect of “don’t bother looking for the money, there’s none left”.Have you seen the state of the country you stupid tory c**t
Good to see a high standard of political debate is being maintained. What was the essence of the message left by the last outgoing Labour government? Words to the effect of “don’t bother looking for the money, there’s none left”.
They are all as bad as each other.
Have you seen the state of the country you stupid tory c**t
I'm sure the note was a serious statement. How can a sovereign currency issuer run out of money? Please explain to me mr high-minded?
Not when you're collecting Vat at twenty percent!Co’mon Fern, you know full well it doesn’t mean literally run out of money.
If the answer is to print more money, it’ll fuel inflation and interest rates. When interest rates nearly hit 6-7%, we were on the precipice of a mortgage and pension crisis and economic collapse. The BoE had to intervene to buy up bonds (Government debt) to shore up the situation.
The trigger for that was an announcement of a mini-budget that announced modest tax cuts and an energy cap (more costly than the tax cuts, btw).
Good to see a high standard of political debate is being maintained. What was the essence of the message left by the last outgoing Labour government? Words to the effect of “don’t bother looking for the money, there’s none left”.
They are all as bad as each other.
They deserve to be kicked out of government - I’ve never voted Tory. I’m pointing out that if you expect a new Labour government to be radical and promise big spending increases in public services, you’re going to be disappointed. Don’t believe me? See Wes Streeting’s comments on the NHS - he unambiguously says they will be no money without meaningful reform. The one area that the public would overwhelmingly support increasing expenditure for.Thank god the Tories have been in power for the last 14 years, we’ve never had it so good. Phew. They’ll walk this election based on their record in government.
Not when you're collecting Vat at twenty percent!
The treasury note? The one first left in 1964 by Tory Reggie Maudling for Jim Callaghan?I high standard of debate which brings up a note that was left as a joke! Alright Robin Day!
The treasury note? The one first left in 1964 by Tory Reggie Maudling for Jim Callaghan?
Didn’t that one say something along the lines of good luck, sorry we fucked it all up?The treasury note? The one first left in 1964 by Tory Reggie Maudling for Jim Callaghan?
Co’mon Fern, you know full well it doesn’t mean literally run out of money.
If the answer is to print more money, it’ll fuel inflation and interest rates. When interest rates nearly hit 6-7%, we were on the precipice of a mortgage and pension crisis and economic collapse. The BoE had to intervene to buy up bonds (Government debt) to shore up the situation.
The trigger for that was an announcement of a mini-budget that announced modest tax cuts and an energy cap (more costly than the tax cuts, btw).
As a principle, if you rely on government to fix all your problems and provide all of your needs, it’s a sure way to be a) disappointed and b) poorer.
1. The government 'prints' or moreover creates at a strike of a key every single penny it spends, all of it. It uses tax and selling bonds (not borrowing the money) as a (demonstrably not very effective) way to manage inflation by removing money from circulation in the economy.
2. As long as there is no constraint of the intended resource to spend the money on, there is no automatic inflation from government spending. At this time, given the collapse in demand which is seeing many businesses failing, there is no real argument that the UK economy does not have the capacity for increased government spending.
LOL, have you got anything better than clichéd Tufton St soundbites? Remember - their proposed economic model of small government and low taxes for the rich was tried, it lasted a few weeks and was catastrophic.
Meanwhile, government ownership and centralised economies with high tax and spend hasn’t been tried?
If you want to rely on government, be my guest. I’ll live my live and you live yours, I don’t have a problem with that. Yet, you want to shout down people who think differently to you.
Alright Darren Grimes
I am not sure why you believe I am advocating an entirely centrally planned economy owned by the state, I have never said anything like that. Though I do believe in state provided public service and utility provision, like the significant majority do in this country.
Well, whenever anyone talk about ‘x’ issue, your solution is more funding and more government ownership. What’s the logical conclusion of all this?
Pretty sure you’re an avowed socialist too. Dw, it’s not a dirty word or a slur, but it’s an insight into your worldview and ideal society.
In the fantasy world where the government is dependent on tax and borrowing to pay for its day to day spending, how does it practically work? Given that a lot of tax isn't paid daily? How does the government pay for things today based on hypothetical taxes paid today?
Has anyone seen Sunak today? Has he gone into hiding? Or any other Tories for that matter other than the morning rounds before the letter became public knowledge.
On the Labour battle busIn a fridge
Even these cunts are giving the tories a kicking
The 2k is just not fucking trueYeah, both parties have a ‘hole’ in their projections and neither are being honest with the electorate. The country’s likely to give labour the benefit of the doubt after 14 years though, which it’s difficult to argue with
I don’t mind Sunak, certainly compared to Truss and Johnson but he’s let himself down with some mistruths recently. In the statement in the rain he said U.K. was growing faster than the US, for one quarter correct (we had negative growth end of last year so not hard) but it’s a lie on any other comparison. I think his is, or certainly should be, better than that.
Look no further than the golden age of American economics shortly after the New Deal. Relatively high taxes, more but not absolute state intervention, a more unionised workforce etc etc.Meanwhile, government ownership and centralised economies with high tax and spend hasn’t been tried?
If you want to rely on government, be my guest. I’ll live my live and you live yours, I don’t have a problem with that. Yet, you want to shout down people who think differently to you.
Sunak really is a twat, but then so is Starmer.Comments from Lord Gus O'Donnell, a former permanent secretary of the Treasury are interesting
“O'Donnell calls it a "grubby" process in which civil servants are required to provide calculations based on assumptions provided to them by ministers. He adds that the civil service would not have been acting independently because it was required to act on what the government told them to do”
So basically even the part that the treasury did look over is still bullshit based on fantasy scenarios that the Tories have conjured up in their own heads. No wonder Sunak has disappeared.
Covid may have had some impact.Look no further than the golden age of American economics shortly after the New Deal. Relatively high taxes, more but not absolute state intervention, a more unionised workforce etc etc.
Incredibly popular and a key part of the country’s prosperity at the time.
Back to 2024: after 14 years of spending cuts and real terms wage cuts, where has the money gone? Why is the economy not strong as the austerity merchants predicted?
The 2k is just not fucking true
how many more people have to say it
Minimal at best. If you look at any trend of anything affected by austerity we’re pretty much bang on trend to where we would have been regardless of covid. The truth is austerity has been proven to be an awful idea and a political choice that damaged growth and robbed services of the money it needed. It’s going to take a generation to undo the failures of austerity.Covid may have had some impact.
Look no further than the golden age of American economics shortly after the New Deal. Relatively high taxes, more but not absolute state intervention, a more unionised workforce etc etc.
Incredibly popular and a key part of the country’s prosperity at the time.
Back to 2024: after 14 years of spending cuts and real terms wage cuts, where has the money gone? Why is the economy not strong as the austerity merchants predicted?
Minimal at best. If you look at any trend of anything affected by austerity we’re pretty much bang on trend to where we would have been regardless of covid. The truth is austerity has been proven to be an awful idea and a political choice that damaged growth and robbed services of the money it needed. It’s going to take a generation to undo the failures of austerity.
The state has grown and austerity effectively ended in 2017. Cuts in ‘real terms’ are not really cuts, it means the rises in expenditure didn’t match inflation. Which isn’t always necessary.Minimal at best. If you look at any trend of anything affected by austerity we’re pretty much bang on trend to where we would have been regardless of covid. The truth is austerity has been proven to be an awful idea and a political choice that damaged growth and robbed services of the money it needed. It’s going to take a generation to undo the failures of austerity.
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