Labour tax cuts ?

[sten_super]

Yup - agreed.

http://news.bbc.co.uk/1/hi/business/7747757.stm

This makes dire reading, especially as it points out that we will be hit harded than most other nations, and

The UK will be hardest hit due to the credit-led nature of consumerism over recent years in this country. While other economies are seeing a downturn led primarily by financial and business services, areas such as retail and manufacturing will take a hit in the UK because domestic demand is expected to fall across the board due to the tightening of credit controls.

Of the other nations specifically mentioned in that report, Ireland and Spain have been hit by the bursting of a massive bubble in property prices, while the Hungarian and Icelandic economies have been decimated by their large financial markets.

 

[El Presidente]

At least there is clear water between the two parties come the next election. The Tories have said that the economy should not have a fiscal stimulus and the recession should be allowed to run it's 'natural' (whatever that is) course, and Labour have used government spending to make up the shortfall in industry and consumer spending.

 

[Beach Hut]

Yes the banks were dishing out mortgage deals left, right and centre but people didn't have to take them.

I got on the property ladder two years ago. I could have got a higher mortgage and a nicer, bigger place but the repayments would have been far more demanding so I got one I knew I could afford.

Don't see why others couldn't do the same.

Probably because they don't really understand how interest rates can fluctuate and also banks not lend money to each other.

Perhaps us veterans of 15% mortgage rates knew the score better

 

[User removed 4]

Yes the banks were dishing out mortgage deals left, right and centre but people didn't have to take them.

I got on the property ladder two years ago. I could have got a higher mortgage and a nicer, bigger place but the repayments would have been far more demanding so I got one I knew I could afford.

Don't see why others couldn't do the same.

maybe so , but there are people on here who are in trouble through no fault of their own, so perhaps a little LESS self righteousness and general smugness might be in order ?

 

[Brighton Breezy]

Of course I realise that and there was no smugness intended.

 

[Papa Lazarou]

At least there is clear water between the two parties come the next election. The Tories have said that the economy should not have a fiscal stimulus and the recession should be allowed to run it's 'natural' (whatever that is) course, and Labour have used government spending to make up the shortfall in industry and consumer spending.

I don't think the Tories have actually said that - they would try to make some significant savings to allow spending to be made, but within a more frugal setup; although it's going to take any party many years to unpick the mess we're in now.

Another very scary article, which doesn't pull any pucnhes as to the current government's role in this.

http://www.moneyweek.com/news-and-charts/economics/britains-going-bankrupt-keep-selling-sterling-14124.aspx

 

[User removed 4]

Of course I realise that and there was no smugness intended.

OK MATE.

 

[Brighton Breezy]

I also think the media has a part to play. Writing every day about doom and gloom stops people spending money or buying new homes. Self-fulfilling prophecy.

 

[Dandyman]

What I don't quite get is why house price inflation and ever increasing levels of personal debt were ever seen as positive things.

To an old cynic like me the relaxation of credit controls and the relatively easy access to credit over the last 20 years seems more of a con to convince us that we were sharing in a brave new world of prosperity for all rather than one of increasingly inequality, a growing underclass and a hyper-rich class lording over the chaos.

 

[Adam Virgo's Shirt]

I also think the media has a part to play. Writing every day about doom and gloom stops people spending money or buying new homes. Self-fulfilling prophecy.

Alsp RM, your point about taking a lower mortgage you can afford is valid. BUT what about when your employer cuts your hours, or even worse, makes you redundant. Will you still be able to afford it then?

Probably not, and you will find yourself in the very same situation you've just criticised! It's all to easy to judge from a good position with a good income. But in today's economy, too many people are finding that what they thought was a good borrowing decision is now a stupendous debt situation through no fault of their own, and one they can't see any way out of!

 

[Brighton Breezy]

I appreciate that and wasn't really talking about people who agreed mortgages etc they could afford and now find themselves unable to because of redundancy etc.

Im hardly paid much and my office has been cutting back staff left, right and centre so am fully aware how quickly things can turn.

 

[London Calling]

I don't think the Tories have actually said that - they would try to make some significant savings to allow spending to be made, but within a more frugal setup; although it's going to take any party many years to unpick the mess we're in now.

Another very scary article, which doesn't pull any pucnhes as to the current government's role in this.

http://www.moneyweek.com/news-and-charts/economics/britains-going-bankrupt-keep-selling-sterling-14124.aspx

But what is the Conservatives detailed plan at the mo?

Darling has detailed the Government response to a world crisis- of which I am not totally convinced he is doing enough.

But the Conservatives are just producing more hot air than Drax power station.

 

[London Calling]

I appreciate that and wasn't really talking about people who agreed mortgages etc they could afford and now find themselves unable to because of redundancy etc.

Im hardly paid much and my office has been cutting back staff left, right and centre so am fully aware how quickly things can turn.

Problem being Richie,

houses have been looked at as investments, so people have mortgage them selves to the hilt.

Though to be fair to people in London and often in the South East, the only way people were going to get a flat or home, was to stretch themselves to the very limit, otherwise, it was rental or the parents house.

 

[User removed 4]

But the Conservatives are just producing more hot air than Drax power station.

however drax is a full participant in the EU emissions trading scheme so a vast majority of that hot air is offset.

 

[Herr Tubthumper]

however drax is a full participant in the EU emissions trading scheme so a vast majority of that hot air is offset.

Offset by what though? Crap? That's the only other think which emerges from Cameron's mouth.

 

[Herr Tubthumper]

Banks publicly owned, rich taxed to pay for the poor, an African-American running the US......I'm liking this New World Order. .......and even I have to admit England (the football team) look a better proposition than they have done for the past few years.

 

[Pavilionaire]

The messages this government is sending out are all mixed, which implies they don't have a clue.

Example: In 2001 Gordon Brown introduces stakeholder pensions, encouraging all of us to curb our spending and set money aside for our old age.

In 2008 Gordon Brown now wants us to spend! spend! spend! our way out of recession.

So is this spending IN ADDITION TO my stakeholder pension contributions??

The facts are that everybody has to live within their means. It's ludicrous the way government seems to have an on/off button for spending and saving.

 

[London Calling]

however drax is a full participant in the EU emissions trading scheme so a vast majority of that hot air is offset.

Doesn't it produce one sixth of all UK omissions (or higher)..Talking of hot air, floors 16-19 are definately quieter...........................

 

[User removed 4]

Offset by what though? Crap? That's the only other think which emerges from Cameron's mouth.

note that the post mentions the eu emissions trading scheme!( it was a lame attempt at being funny) dont be blinded by your ( self loathing ? ) hatred of the middle classes , of which you obviously consider cameron and the tories to be members of,. you must be middle class because the genuine working classes just dont have the hysterical dislike of the middle classes that you espouse.

 

[User removed 4]

Doesn't it produce one sixth of all UK omissions (or higher)..Talking of hot air, floors 16-19 are definately quieter...........................

16-19 might be , we have floors 18/19/20 by the way have you seen the absolute stunner who works on the 15th floor ? i truly would crawl for 20 miles over broken glass on my hands and knees just to....well you know the rest !