Sir Phillip Green

[Tubby Mondays]

Gutted that the multi-billionaire, Monaco based tax exile, supporter of the Governments mass program of creating unemployment is having to shut down some of his shops because no ones got any money to buy the tat that he flogs.

Retail genius Sir Phil - didnt occur to you that the policy of putting everyone on the dole to save taxpayers money by paying them unemployment benefit and not getting their income tax (?) would mean that they had less money to spend in you shops did it?!

 

[Green Cross Code Man]

Gutted that the multi-billionaire, Monaco based tax exile, supporter of the Governments mass program of creating unemployment is having to shut down some of his shops because no ones got any money to buy the tat that he flogs.

Retail genius Sir Phil - didnt occur to you that the policy of putting everyone on the dole to save taxpayers money by paying them unemployment benefit and not getting their income tax (?) would mean that they had less money to spend in you shops did it?!

Yes. It's all his fault.

 

[pseudonym]

Gutted that the multi-billionaire, Monaco based tax exile, supporter of the Governments mass program of creating unemployment is having to shut down some of his shops because no ones got any money to buy the tat that he flogs.

Retail genius Sir Phil - didnt occur to you that the policy of putting everyone on the dole to save taxpayers money by paying them unemployment benefit and not getting their income tax (?) would mean that they had less money to spend in you shops did it?!

Sir Philip rests easy at night safe in the knowledge that he has earned his vast fortune in a ethical and honest way,what a gent.

 

[Weststander]

Gutted that the multi-billionaire, Monaco based tax exile, supporter of the Governments mass program of creating unemployment is having to shut down some of his shops because no ones got any money to buy the tat that he flogs.

Retail genius Sir Phil - didnt occur to you that the policy of putting everyone on the dole to save taxpayers money by paying them unemployment benefit and not getting their income tax (?) would mean that they had less money to spend in you shops did it?!

Hello.
Financial geniuses Blair & Brown bankrupted our country, with mega debt (which had amassed long before Northern Rock & Lehman Bros), as well as off balance sheet public debt from PFI's.
In essense 1997 to 2010 was a big overspend, with our and the next generation burdened with government debt and interest to service.

Blair & Brown cozied up to the mega rich, and allowed the rich-poor gap to widen.

Well done.

 

[tedebear]

Personally I blame whatever element of our society forgot to teach our children respect and morals. We've created a generation of selfish children with gadets pinned to their hand or ear. Each rowing in our own direction whilst staring at their sneakers with their headphones on.

Phillip Green has f*** all to do with it.

 

[clapham_gull]

Yes. It's all his fault.

Well no, but read the BBC's Robert Peston's book Who Runs Britain ?

It doesn't take a political view point - but delves into the behaviour of Green and the like and their impact on the British Economy over the last few years.

It doesn't pull the punches on the last Government either... not forgetting the banks.

Frankly - neither come out out looking particularly good. It's an eye opener.

 

[tedebear]

Well no, but read Robert Peston's book Who Runs Britain ?

It doesn't take a political view point - but delves into the behaviour of Green and the like and their impact on the British Economy over the last few years.

It doesn't pull the punches on the last Government either.

Frankly - neither come out out looking particularly good. It's an eye opener.

Peston really isn't a man you should read the opinions of IMHO.

 

[clapham_gull]

Peston really isn't a man you should read the opinions of IMHO.

I'm not interested in your opinion.

 

[seagullondon]

I'm not interested in your opinion.

 

[Albion Dan]

Hello.
Financial geniuses Blair & Brown bankrupted our country, with mega debt (which had amassed long before Northern Rock & Lehman Bros), as well as off balance sheet public debt from PFI's.
In essense 1997 to 2010 was a big overspend, with our and the next generation burdened with government debt and interest to service.

Blair & Brown cozied up to the mega rich, and allowed the rich-poor gap to widen.

Well done.

Wasn't the Blair/Brown debt less than what was inherited from John Majors government? The debt repayments are less now than they were in 1998 when a new Labour government took steps to improve the situation. Just as well really considering the GLOBAL recession that came in 2008. Flaws your argument somewhat no?

 

[tedebear]

I'm not interested in your opinion.

Completely unneccessary and frankly rude. But proves my point made above about society.

 

[clapham_gull]

Completely unneccessary and frankly rude. But proves my point made above about society.

"Peston really isn't a man you should read the opinions of IMHO."

.. and that isn't ?

Could be phrased in a number of ways, but it was directed at those who read it - rather than the author himself.

Think very carefully before you accuse someone of the very thing you've just been yourself....

 

[tedebear]

"Peston really isn't a man you should read the opinions of IMHO."

.. and that isn't ? Think before you accuse someone of the very thing you've been yourself....

No it was not, IMHO means in my humble opinion, but it appears you've happily overlooked that.

 

[beorhthelm]

i wouldn't blame Green, companies do not exist to create employment and the shop closures might have occured anyway (the leases run out). however some blame can be placed at the door of Peston for making a big scoop on the state of RBS and Halifax, so they had to rush into action which might not otherwise have been necessary.

 

[paddy]

Wasn't the Blair/Brown debt less than what was inherited from John Majors government? The debt repayments are less now than they were in 1998 when a new Labour government took steps to improve the situation. Just as well really considering the GLOBAL recession that came in 2008. Flaws your argument somewhat no?

Now, there's a rather major flaw in your argument. Of course debt interest as a percentage of government spending falls when government spending (under labour) increases dramatically. The increase in debt interest spending you see at the end of the graph is as the interest run up by the labour government starts to kick in and government spending (in all areas other than debt interest) starts to fall.

 

[Beach Hut]

Think Green understands business a lot better than some others, the bottom line is he wants to run a profitable company therefore if it mean cutting out unprofitable stores it has to happen.

 

[Green Cross Code Man]

Now, there's a rather major flaw in your argument. Of course debt interest as a percentage of government spending falls when government spending (under labour) increases dramatically. The increase in debt interest spending you see at the end of the graph is as the interest run up by the labour government starts to kick in and government spending (in all areas other than debt interest) starts to fall.

That's right. I was trying to write that coherently and failed. Thanks.

 

[beorhthelm]

Wasn't the Blair/Brown debt less than what was inherited from John Majors government? The debt repayments are less now than they were in 1998 when a new Labour government took steps to improve the situation.

not by a long way, your graph shows the debt interest as a percentage, and doesnt show the interest rate or total debt for comparison. debt in cash or real terms, or as proportion of GDP are way higher than 1997. Brown did get debt down low in the early 00's, but then decided to go spending on everything. ended boom and bust he thought...

 

[Weststander]

Wasn't the Blair/Brown debt less than what was inherited from John Majors government? The debt repayments are less now than they were in 1998 when a new Labour government took steps to improve the situation. Just as well really considering the GLOBAL recession that came in 2008. Flaws your argument somewhat no?

You've missed a rather important but obvious point.

Global interest rates are lower in general, hence the dip 2000 to 2009 in your unsubstantiated graph.

But the capital state debt owing in 1997 was £352b, and just 13 years later was £925b, in low inflationery times and left rising fast.
The rest of the world and markets are looking for that debt to be reduced significantly, so the cash flow to meet the interest and capital reductions on that, are vast, and are already causing the hardships faced by most of the pop'n.

New Labour was one big lie. Only the likes of millionaire Blair ('socialist') & Philip Green did lastingly well. Somewhat, no?

 

[Weststander]

not by a long way, your graph shows the debt interest as a percentage, and doesnt show the interest rate or total debt for comparison. debt in cash or real terms, or as proportion of GDP are way higher than 1997. Brown did get debt down low in the early 00's, but then decided to go spending on everything. ended boom and bust he thought...

You got a good memory too. He abandoned the "prudence" expression pinched from Ken Clarke, and went spending on the never-never.
No such thing as a free lunch, and now we pay.