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 "This comes as Jeremy Hunt has made clear that all departments, including education, will be expected to make cuts as part of the government’s debt reduction plan, to be announced on 31 October."
[Post edited 22 Oct 2022 22:36]
"They break our legs and tell us to be grateful when they offer us crutches."
They relish cuts. It’s achieving Truss’ ‘small state’ through the back door.
If you want your child educated, pay someone. Health? Pay for a doctor. Care for a grandparent. Put nanny in the west wing and pay for someone. Pension? Work till you die. Trumpism at its finest.
It’s horrible.
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It's what the markets and the likes of the IMF would want. on 23:09 - Oct 22 with 1577 views
Don't forget to start from where we are now (debt obligations etc) and to include details of how you pay for what you spend.
Also don't forget that the UK has to import a massive percentage of its food - so we'll need something to pay for that with.
For what it's worth, I'd rejoin the EU's Single Market and Customs Union ASAP and look at ways of raising taxes on the wealthy - personal pension funds over a certain value could pay 1% or more p.a. for example.
1
It's what the markets and the likes of the IMF would want. on 23:34 - Oct 22 with 1537 views
It's what the markets and the likes of the IMF would want. on 23:09 - Oct 22 by XYZ
Come on BDS, tell us what you would do.
Don't forget to start from where we are now (debt obligations etc) and to include details of how you pay for what you spend.
Also don't forget that the UK has to import a massive percentage of its food - so we'll need something to pay for that with.
For what it's worth, I'd rejoin the EU's Single Market and Customs Union ASAP and look at ways of raising taxes on the wealthy - personal pension funds over a certain value could pay 1% or more p.a. for example.
I definitely wouldn't use the markets as a metric for policy decisions unless privatisation of public services during a debt crisis is your thing. Edit...and obviously bearing in mind climate change, greater self sufficiency in food and energy.
[Post edited 22 Oct 2022 23:36]
"They break our legs and tell us to be grateful when they offer us crutches."
It's what the markets and the likes of the IMF would want. on 23:35 - Oct 22 by BanksterDebtSlave
I definitely wouldn't use the markets as a metric for policy decisions unless privatisation of public services during a debt crisis is your thing. Edit...and obviously bearing in mind climate change, greater self sufficiency in food and energy.
[Post edited 22 Oct 2022 23:36]
That's not a serious answer.
I asked what you would do; not what you wouldn't.
You can't turn on a tap and be self-sufficient in food or energy.
How will you buy foreign currency? - e.g. to pay for food and energy.
0
It's what the markets and the likes of the IMF would want. on 23:51 - Oct 22 with 1500 views
It's what the markets and the likes of the IMF would want. on 23:40 - Oct 22 by XYZ
That's not a serious answer.
I asked what you would do; not what you wouldn't.
You can't turn on a tap and be self-sufficient in food or energy.
How will you buy foreign currency? - e.g. to pay for food and energy.
More of the same is your perogative. Personally I think a transition to something different is required and time is definitely not on our side. Guess what, globalist institutions like the EU are not focused on self sufficiency in anything. There's a big old clue in their reliance on Russian gas and oil in case you missed it. Seriously!
Edit...is a massive debt haircut for the givers of bad debt an acceptable policy? After all, after all that QE the money tree has run out for things like investment in public infrastructure and the like. I think we may have been fleeced.
[Post edited 22 Oct 2022 23:59]
"They break our legs and tell us to be grateful when they offer us crutches."
It's what the markets and the likes of the IMF would want. on 23:51 - Oct 22 by BanksterDebtSlave
More of the same is your perogative. Personally I think a transition to something different is required and time is definitely not on our side. Guess what, globalist institutions like the EU are not focused on self sufficiency in anything. There's a big old clue in their reliance on Russian gas and oil in case you missed it. Seriously!
Edit...is a massive debt haircut for the givers of bad debt an acceptable policy? After all, after all that QE the money tree has run out for things like investment in public infrastructure and the like. I think we may have been fleeced.
[Post edited 22 Oct 2022 23:59]
"More of the same is your perogative." - I've made two suggestions of change, let's not make stuff up.
Is the EU not self-sufficient in food production? I'd be surprised if it wasn't.
I agree "a transition to something different is required and time is definitely not on our side" - the transition needs to work - we'll need to keep paying for imported food; therefore the forex markets will matter to us; etc etc.
Edit, re your edit ...
Reneging on government debt would be a bad idea. Making sure the banks pay a proper level of tax that reflects the risk/ reward ratio given the public bailed them out in 2008 and would do so again. Tax wealth more cleverly.
However you do it, pay what is needed to repair our education and health systems.
[Post edited 23 Oct 2022 0:08]
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It's what the markets and the likes of the IMF would want. on 00:13 - Oct 23 with 1467 views
It's what the markets and the likes of the IMF would want. on 00:02 - Oct 23 by XYZ
"More of the same is your perogative." - I've made two suggestions of change, let's not make stuff up.
Is the EU not self-sufficient in food production? I'd be surprised if it wasn't.
I agree "a transition to something different is required and time is definitely not on our side" - the transition needs to work - we'll need to keep paying for imported food; therefore the forex markets will matter to us; etc etc.
Edit, re your edit ...
Reneging on government debt would be a bad idea. Making sure the banks pay a proper level of tax that reflects the risk/ reward ratio given the public bailed them out in 2008 and would do so again. Tax wealth more cleverly.
However you do it, pay what is needed to repair our education and health systems.
[Post edited 23 Oct 2022 0:08]
I bet they don’t produce enough bananas.
In all seriousness, we’ve lost ~£40BN per year in tax revenue due to lost activity as a result of leaving the SM/CU. Why the fug isn’t anyone talking about that in the context of the public finance black hole? It starting do do my head in. Until people start being honest and admitting all of the issues how are they supposed to be fixed?!
£40BN in extra tax plus a smallish windfall tax to pay for the energy support instead of doing it by borrowing and there wouldn’t be a black hole.
It's what the markets and the likes of the IMF would want. on 00:02 - Oct 23 by XYZ
"More of the same is your perogative." - I've made two suggestions of change, let's not make stuff up.
Is the EU not self-sufficient in food production? I'd be surprised if it wasn't.
I agree "a transition to something different is required and time is definitely not on our side" - the transition needs to work - we'll need to keep paying for imported food; therefore the forex markets will matter to us; etc etc.
Edit, re your edit ...
Reneging on government debt would be a bad idea. Making sure the banks pay a proper level of tax that reflects the risk/ reward ratio given the public bailed them out in 2008 and would do so again. Tax wealth more cleverly.
However you do it, pay what is needed to repair our education and health systems.
[Post edited 23 Oct 2022 0:08]
Imho..the EU is 'more of the same.' I read a few years back that Turkey is the only food self sufficient country. The debt should have been reneged on when it was private bank and not public debt. I'm not sure that your last sentence is going to be an option....I genuinely fear we are fooked. Greece was the canary in the coal mine and we chose the wrong side!
Edit..as it happens, post Brexit I stated many times on here that I wasn't averse to the Norway model as a transitionary solution to leaving.
[Post edited 23 Oct 2022 0:22]
"They break our legs and tell us to be grateful when they offer us crutches."
It's what the markets and the likes of the IMF would want. on 00:13 - Oct 23 by Swansea_Blue
I bet they don’t produce enough bananas.
In all seriousness, we’ve lost ~£40BN per year in tax revenue due to lost activity as a result of leaving the SM/CU. Why the fug isn’t anyone talking about that in the context of the public finance black hole? It starting do do my head in. Until people start being honest and admitting all of the issues how are they supposed to be fixed?!
£40BN in extra tax plus a smallish windfall tax to pay for the energy support instead of doing it by borrowing and there wouldn’t be a black hole.
And yet we wanged 400 billion or so at furlough and was it 600 billion at QE to cover private debt. I think we may have been robbed!
Edit.Turkey grow bananas too.
[Post edited 23 Oct 2022 0:19]
"They break our legs and tell us to be grateful when they offer us crutches."
It's what the markets and the likes of the IMF would want. on 00:16 - Oct 23 by BanksterDebtSlave
Imho..the EU is 'more of the same.' I read a few years back that Turkey is the only food self sufficient country. The debt should have been reneged on when it was private bank and not public debt. I'm not sure that your last sentence is going to be an option....I genuinely fear we are fooked. Greece was the canary in the coal mine and we chose the wrong side!
Edit..as it happens, post Brexit I stated many times on here that I wasn't averse to the Norway model as a transitionary solution to leaving.
[Post edited 23 Oct 2022 0:22]
We have different opinions of the freedoms the UK had within the EU. It might be different when the UK rejoins - e.g. having to join the Euro. My opinion is that the UK was free to make changes to make the country fairer for all. The EU didn't stop the UK nationalising key industries. The EU didn't stop the UK having a mass state-owned housebuilding program. The EU didn't stop the UK having a fairer tax system.
Countries with highest self-sufficiency ratio[1] Rank Country Ratio (%) 1 Argentina 273 2 Uruguay 232 3 Australia 207 4 Ukraine 193 5 New Zealand 185 6 Canada 183 7 Bulgaria 171 8 Hungary 162 9 Lithuania 149 10 Malaysia 145
Following Norway model would have seen the UK in a massively better position. The tories were just never going to let it happen. Even yesterday Farage was saying "if only we'd done Brexit right ...".
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It's what the markets and the likes of the IMF would want. on 06:20 - Oct 23 with 1318 views
It's what the markets and the likes of the IMF would want. on 23:35 - Oct 22 by BanksterDebtSlave
I definitely wouldn't use the markets as a metric for policy decisions unless privatisation of public services during a debt crisis is your thing. Edit...and obviously bearing in mind climate change, greater self sufficiency in food and energy.
[Post edited 22 Oct 2022 23:36]
What if you went to the bank and said, you know what, I think I might just pop an extension on the side of my house, I'm going to need £50,000, I guess I might pay you back someday but I'm not going to explain how or when - would you expect to be just given the cash without any questions and offered a decent interest rate?
0
It's what the markets and the likes of the IMF would want. on 07:17 - Oct 23 with 1282 views
It's what the markets and the likes of the IMF would want. on 00:35 - Oct 23 by XYZ
We have different opinions of the freedoms the UK had within the EU. It might be different when the UK rejoins - e.g. having to join the Euro. My opinion is that the UK was free to make changes to make the country fairer for all. The EU didn't stop the UK nationalising key industries. The EU didn't stop the UK having a mass state-owned housebuilding program. The EU didn't stop the UK having a fairer tax system.
Countries with highest self-sufficiency ratio[1] Rank Country Ratio (%) 1 Argentina 273 2 Uruguay 232 3 Australia 207 4 Ukraine 193 5 New Zealand 185 6 Canada 183 7 Bulgaria 171 8 Hungary 162 9 Lithuania 149 10 Malaysia 145
Following Norway model would have seen the UK in a massively better position. The tories were just never going to let it happen. Even yesterday Farage was saying "if only we'd done Brexit right ...".
If we’d done Brexit right, we’d have understood what it was first and put Farage on a desert island far far away.,
Making comparisons with other countries is dangerous as their economies work differently. The ERM disaster showed that. You also have different density of population, geography, natural resources, you name it.
This country hasn’t been self sufficient in food for a couple of hundred years and even before that starvation was the lot of the ‘deserving poor’. The U.K. is a fertile country and tends to be self sufficient in some stuff (e.g. milk) and seasonally in other things, e.g veg. As a kid you could tell the time of year from fruit and veg in the grocers.
There’s nothing wrong with trading. We’ve done it for 1000s of years, which makes Brexit even more insane. My solution is obvious. Rejoin CU/SM ASAP on a Norway style deal. Any deal tbh. If it means freedom of movement, so be it. There are as many pluses as minuses to that, just as there are adhering to ECJ rules. SM/CU is also the only solution to the NI protocol.
I wouldn’t raid pension funds, as you suggested in an earlier post. That’s peoples’ futures and future spending in the economy. Last time that was done, along with other idiotic decisions (Brown), the result was poor.
For starters I would though raise income tax rates while raising the tax threshold at the basic level to protect the poorest. As a progressive tax it’s fair, even if it does hack off the tories. I wouldn’t raise it to Denis Healey mad levels, but a few pence in the pound won’t kill anyone.
Let’s face it, it’s hard to beat the lies, deceit stupidity and sheer cruelty of the current government. They have been forced to u turn on their crazy far right Truss experiment, so why not change the EU relationship? Brexit debate never defined what leaving the EU actually meant because nobody knew. Again, nuts. Just because you’ve gone down the wrong road doesn’t mean you can’t change it.
Random rant/thoughts..
[Post edited 23 Oct 2022 7:17]
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It's what the markets and the likes of the IMF would want. on 09:57 - Oct 23 with 1052 views
It's what the markets and the likes of the IMF would want. on 06:20 - Oct 23 by gordon
What if you went to the bank and said, you know what, I think I might just pop an extension on the side of my house, I'm going to need £50,000, I guess I might pay you back someday but I'm not going to explain how or when - would you expect to be just given the cash without any questions and offered a decent interest rate?
I think you just neatly summed up the noughties but money was being dished out for the whole house not extensions!.....the banks dished out the money and got it back from all of us when the householder couldn't pay. The banks should have taken the hit!
"They break our legs and tell us to be grateful when they offer us crutches."
It's what the markets and the likes of the IMF would want. on 07:17 - Oct 23 by Churchman
If we’d done Brexit right, we’d have understood what it was first and put Farage on a desert island far far away.,
Making comparisons with other countries is dangerous as their economies work differently. The ERM disaster showed that. You also have different density of population, geography, natural resources, you name it.
This country hasn’t been self sufficient in food for a couple of hundred years and even before that starvation was the lot of the ‘deserving poor’. The U.K. is a fertile country and tends to be self sufficient in some stuff (e.g. milk) and seasonally in other things, e.g veg. As a kid you could tell the time of year from fruit and veg in the grocers.
There’s nothing wrong with trading. We’ve done it for 1000s of years, which makes Brexit even more insane. My solution is obvious. Rejoin CU/SM ASAP on a Norway style deal. Any deal tbh. If it means freedom of movement, so be it. There are as many pluses as minuses to that, just as there are adhering to ECJ rules. SM/CU is also the only solution to the NI protocol.
I wouldn’t raid pension funds, as you suggested in an earlier post. That’s peoples’ futures and future spending in the economy. Last time that was done, along with other idiotic decisions (Brown), the result was poor.
For starters I would though raise income tax rates while raising the tax threshold at the basic level to protect the poorest. As a progressive tax it’s fair, even if it does hack off the tories. I wouldn’t raise it to Denis Healey mad levels, but a few pence in the pound won’t kill anyone.
Let’s face it, it’s hard to beat the lies, deceit stupidity and sheer cruelty of the current government. They have been forced to u turn on their crazy far right Truss experiment, so why not change the EU relationship? Brexit debate never defined what leaving the EU actually meant because nobody knew. Again, nuts. Just because you’ve gone down the wrong road doesn’t mean you can’t change it.
Random rant/thoughts..
[Post edited 23 Oct 2022 7:17]
Indeed, inflation is running at 70pc in Argentina so I’m not sure self sufficiency is a silver bullet…
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