| Govt deficit: what would you do? 15:08 - Jul 8 with 5353 views | giant_stow |
I keep reading that the Uk's finances are looking unsustainable. I realise that that may in itself be a controversial opinion, but for the sake of argument, what would you do to get things back on track? |  |
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| Govt deficit: what would you do? on 13:33 - Jul 9 with 456 views | Radlett_blue |
| Govt deficit: what would you do? on 16:25 - Jul 8 by OldFart71 |
Of course it's unsustainable. Whether there was a black hole of 22 billion or not Labour have increased that black hole. But the tax burden is already at it's highest since the 1950's and seeing as Rachel Reeves declared she wouldn't increase taxes she has either to go back on that promise or cut spending. If she taxes people they have less in their pockets to spend therefore whether it be supermarkets, clothing, furniture, carpet, DIY or whatever stores see less revenue through their doors. Less revenue means fewer hours for workers, redundancies, closures and more benefits claimants and less revenue to the exchequer.
The sad thing about governments is that they spend their time worrying about being voted in when their term is up. Conservatives spend money in and around London and Labour concentrate on the North because in each case that's where their votes lay.
A government is elected for the whole country, not for the bits they deem will give them the vote.
They need to concentrate on getting the country producing more, creating jobs and getting people who are fit to work working and make companies paying a fraction of the tax they should be paying pay more. |
100% this. The options are (1) higher taxes, which means Reeves will resign & Reform UK (with their unbalanceable budget) will make further gains. (2) borrow more. The increased interest cost on government bonds means this is near self defeating. (2) Cut spending. Starmer wants to spend more on defence, the NHS etc etc & his capitulation in the face of Left opposition to fairly small welfare cuts shows he hasn't got the will to do that.
So we will kick the can down the road & muddle along. |  |
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| Govt deficit: what would you do? on 13:35 - Jul 9 with 444 views | baxterbasics |
What about gambling? There must be opportunity to claw some money in there, after Blair liberalised and dropped the taxes. I know most of the big companies are HQ'd in various tax havens but still. |  |
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| Govt deficit: what would you do? on 13:37 - Jul 9 with 442 views | mellowblue |
Then why would anybody invest in government bonds again, it's a 2 way street, investors want to invest, governments need money. Pee off the investors and you will have a broken country. |  | | |
| Govt deficit: what would you do? on 13:51 - Jul 9 with 421 views | mellowblue |
| Govt deficit: what would you do? on 17:36 - Jul 8 by Basuco |
According to Lord Kinnock, there is over £39 billion in tax owed to HMRC, they could target tax evasion and tax avoidance, why not put more resource into collecting that? No need to raise taxes. |
similar applies to rates, massive amount is owed. | | | |
| Govt deficit: what would you do? on 18:52 - Jul 9 with 348 views | Bent_double |
| Govt deficit: what would you do? on 13:37 - Jul 9 by mellowblue |
Then why would anybody invest in government bonds again, it's a 2 way street, investors want to invest, governments need money. Pee off the investors and you will have a broken country. |
It would have to be an agreement between government and bonds holders, sure I won't be easy, but if you don't try.... |  |
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| Govt deficit: what would you do? on 22:02 - Jul 9 with 309 views | JammyDodgerrr |
Some short/medium term thoughts:
Move to only one OBR forecast a year so we don't have to keep making changes every time something potentially destabilises(and might sort itself out)
Scrap/adjust the triple lock - unsustainable, unneeded and outdated. This has to happen.
Reinstate the 2p NI rate that the tories scrapped for popularity, and shouldn't of been allowed to happen - 10bn+ raised and no noticeable effect on people's pay packets
Look at the WFA again - there has to be a better solution than where it landed.
Align Capital Gains Tax with income tax brackets
Hope some trillionaire pays it off us.
We are in a really, really bad situation. Completely trapped by our debt and cornered by the markets who are haunted from Truss. Really really difficult to find a way out of it. [Post edited 9 Jul 22:02]
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| Govt deficit: what would you do? on 22:28 - Jul 9 with 297 views | Herbivore |
| Govt deficit: what would you do? on 22:02 - Jul 9 by JammyDodgerrr |
Some short/medium term thoughts:
Move to only one OBR forecast a year so we don't have to keep making changes every time something potentially destabilises(and might sort itself out)
Scrap/adjust the triple lock - unsustainable, unneeded and outdated. This has to happen.
Reinstate the 2p NI rate that the tories scrapped for popularity, and shouldn't of been allowed to happen - 10bn+ raised and no noticeable effect on people's pay packets
Look at the WFA again - there has to be a better solution than where it landed.
Align Capital Gains Tax with income tax brackets
Hope some trillionaire pays it off us.
We are in a really, really bad situation. Completely trapped by our debt and cornered by the markets who are haunted from Truss. Really really difficult to find a way out of it. [Post edited 9 Jul 22:02]
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Markets should be at the behest of governments, not the other way round. That's a big part of why we're so fooked. |  |
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| Govt deficit: what would you do? on 23:22 - Jul 9 with 261 views | BlueBadger |
| Govt deficit: what would you do? on 16:38 - Jul 8 by chicoazul |
Given how popular Reform are I’d say you’re even more out of touch with the country than usual. |
Bloody hell Chico, I thought you were a bit more of sophisticated troll than this. Jumping on the Chairman Nige bandwagon is such an obvious move that even Frimmers and Testers experimented with it. |  |
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| Govt deficit: what would you do? on 00:16 - Jul 10 with 240 views | TheBlueGnu |
I would pitch up a wigwam on Framsden village green, and sing, very loudly, the first few lines of a brilliant Englebert Humperdinck song:-
Tell me when will you be mine,
Quando, quando, quando, quando,
We can share a love divine
Please don't make me wait again | |
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