"were all in this together" "

[Leekbrookgull]

Good. Enjoy it !!!!

 

[Dandyman]

thats a good question, where exactly is government spending £150billion more than it recieves? btw, bailing the banks cost about £76billion in 2009, so the deficit for this year has nothing to do with bailing out banks. just budgeted overspending from the previous two or three finance bills.

According to this http://www.independent.co.uk/news/uk/politics/163850bn-official-cost-of-the-bank-bailout-1833830.html

over 850 billion of our money had already been used by the end of 2009 to prop up the banks.

The commitments include buying £76bn of shares in Royal Bank of Scotland and the Lloyds Banking Group; indemnifying the Bank of England against losses incurred in providing more than £200bn of liquidity support; guaranteeing up to £250bn of wholesale borrowing by banks to strengthen liquidity; providing £40bn of loans and other funding to Bradford & Bingley and the Financial Services Compensation Scheme; and insurance cover of over £280bn for bank assets.

 

[ROSM]

Shh don't start using facts on here. Although to be fair not all that commitment has hit the bottom lne yet. As for the main purpose of this thread. I don't think the fact he has a skiing holiday is relevant and certainly isn't news worthy. Although trying to cover up he was on one maybe.

 

[beorhthelm]

The commitments include buying £76bn of shares in Royal Bank of Scotland and the Lloyds Banking Group; indemnifying the Bank of England against losses incurred in providing more than £200bn of liquidity support; guaranteeing up to £250bn of wholesale borrowing by banks to strengthen liquidity; providing £40bn of loans and other funding to Bradford & Bingley and the Financial Services Compensation Scheme; and insurance cover of over £280bn for bank assets.

i know. but read those bold parts carefully... thats £770billion thats not actually money spent, but guarantees and short term loans. a bit like a parent/grandparent acting guarantor for childs loan, it doesnt place them in debt nor come out of their spending if and until there is an actual default by the child. added to which the banks paid handsomy for some of those. shrewd move by Darling/Treasurary, make some money from it all. also we'll see a big fat return when they sell off the Lloyds/RBOS shares, so the banking crisis will lead to a net profit.

shame the budget deficit isnt so easily dealt with. which is why we face the austerity, to show that we are bringing down the debt and would be in a position to face the obligations if required.

 

[seagullsovergrimsby]

I told you all before the election that if the Tories got in they would raise VAT to 20% based on their previous history of raising VAT once they got into power. I was basically called a scaremonger and for a FACT it wouldn't happen. Food prices will rise , although food is zero rated it still has to be transported and the increased fuel costs are passed on to the customer in higher prices at the checkout.
Osborne has gone a £10k holiday , how much of this will he claim back in expenses ? At least Blair had the nerve to ask his rich mates around the world for a freebie

 

[Tubby Mondays]

Well it started with £789 million on the millennium dome,£825 million aid over three years to India( a country with nuclear weapons and a space programme), brown even managed to find £ 50 odd million to help 'impoverished' china cut its co2 emissions for fucks sake £ 5.6 billion on failed computer projects, £1.6 billion on management consultants just for starters, do you want me to go on ? i'm sure there's more i can dig up.

They went on to win two general elections after the dome fiasco so the electorate didnt really give a shit about that. I think you will find that even this shower of shit in charge at the moment will still be giving aid to India (yes the India with nuclear weapons and a space program), they will also be dolling out money to China (its part of eating at the big boys table). If you want to bring up management consultants I will chuck in the image consultants that the public schoolboy, biscuit game playing fuckwit employed less than 6 months after failing to win an election that was an open goal.

 

[seagullsovergrimsby]

The Government can also look forward to £26Bn flowing into the Treasury coffers when they sell off the Post Office plus what they can flog it for. They will completely asset strip the Royal Mail pension fund and in return guarantee to pay existing and future postal workers their pensions from the FAS allowing them also to wipe out the £8Bn deficit in the current scheme.

 

[Bigtomfu]

I love the way the average person is still happy to blame the banks.

Let's not forget it was only certain banks that needed Government help, and even then those that were quasi-nationalised will give the nation a great way to make an impressive return on our enforced investment.

 

[Mr Burns]

If you want to bring up management consultants I will chuck in the image consultants that the public schoolboy, biscuit game playing fuckwit employed less than 6 months after failing to win an election that was an open goal.

Please explain

 

[Guy Fawkes]

I told you all before the election that if the Tories got in they would raise VAT to 20% based on their previous history of raising VAT once they got into power. I was basically called a scaremonger and for a FACT it wouldn't happen. Food prices will rise , although food is zero rated it still has to be transported and the increased fuel costs are passed on to the customer in higher prices at the checkout.
Osborne has gone a £10k holiday , how much of this will he claim back in expenses ? At least Blair had the nerve to ask his rich mates around the world for a freebie

Where were all the complaints about the multiple tax increases and stealth taxes that Labour introduced while they were in power?

It all seems more a case of being anti the party that is doing it rather it than anythinjg to do with policy - its politican points scoring rather than looking to do what is best for this country and the economy.

The Conservatives are tackling the budget deficit, not the national debt - if the budget deficit is allowed to continue it leads to greater and more expensive borrowing, where does the money required to fund future requirements like the NHS, Police, Fire service etc come from if the money has already been spent?

Isn't it wiser to tackle it now before it becomes much more difficult and much more painful to tackle later (as was Labours idea)

 

[El Presidente]

Why would Vat effect the poorest the greatest. Most essentials are VAT free so if your poor you won't be able to afford most things that are VAT charagable.

Adult clothing, petrol, alcohol, fags, confectionery etc are all subject to VAT at the standard rate. The poorest decile spend 100% of their income, whilst the richest decile spend a much lower fraction of theirs, so proportionately the poor bear VAT hardest.

 

[Guy Fawkes]

Adult clothing, petrol, alcohol, fags, confectionery etc are all subject to VAT at the standard rate. The poorest decile spend 100% of their income, whilst the richest decile spend a much lower fraction of theirs, so proportionately the poor bear VAT hardest.

Adult clothing - dependant on what it is and how often it may be used but could be a luxury purchase
petrol - Luxury
alcohol - Luxury
fags - Luxury
confectionery - Luxury

All a matter of lifestyle choice and not essentials, anyone could decide not to buy any of those items during a month and therefore pay zero in VAT on these items.

 

[El Presidente]

Adult clothing - dependant on what it is and how often it may be used but could be a luxury purchase
petrol - Luxury
alcohol - Luxury
fags - Luxury
confectionery - Luxury

All a matter of lifestyle choice and not essentials, anyone could decide not to buy any of those items during a month and therefore pay zero in VAT on these items.

Try telling anyone that lives out in the country, where there are no publick transport services, that petrol is a luxury.

 

[Guy Fawkes]

Try telling anyone that lives out in the country, where there are no publick transport services, that petrol is a luxury.

Diesel is more fuel efficient and therefore makes it cheaper to run a car on so yeah petrol is

 

[Westdene Seagull]

The poorest decile spend 100% of their income, whilst the richest decile spend a much lower fraction of theirs, so proportionately the poor bear VAT hardest.

But that isn't unique to VAT. You could argue the poor spend a bigger proportion of their income on council tax, food, gas, electric, water, fuel and even holidays. It's not really that black and white.

 

[El Presidente]

But that isn't unique to VAT. You could argue the poor spend a bigger proportion of their income on council tax, food, gas, electric, water, fuel and even holidays. It's not really that black and white.

I am not arguing that tax revenues should not be increased, I am arguing against Gideon Osborne's claim that an increase in VAT affects the poor least.

I personally think a banker/premeriship footballer/ accountant etc. should pay a lot more of the increased tax burden proportionately than a pensioner. You disagree and that's fair enough.

 

[Stoo82]

It seems we can't vote Labour now as Alan Johson has been seen having an expencive dinner at the Savoy. I think we should just shut the country down, and move to France.

 

[Simster]

I am not arguing that tax revenues should not be increased, I am arguing against Gideon Osborne's claim that an increase in VAT affects the poor least.

I personally think a banker/premeriship footballer/ accountant etc. should pay a lot more of the increased tax burden proportionately than a pensioner. You disagree and that's fair enough.

Me too, which makes simonsimon's tedious posts even more nausiating. How long were Labour in power? 13 years? And did they ever cut VAT and increase income tax? No. Against that background, all this "Tory scum, vote vote vote Labour, smash the system" bullshit he posts sounds ever so slightly lame.

 

[Tooting Gull]

It seems we can't vote Labour now as Alan Johson has been seen having an expencive dinner at the Savoy. I think we should just shut the country down, and move to France.

And we can't ever vote LibDem again because Vince Cable was spied buying from the extravagant Tesco's finest range rather than the 'man-of-the-people' own brand option. Oh. Apparently no one was going to vote for them again anyway.

 

[ROSM]

Me too, which makes simonsimon's tedious posts even more nausiating. How long were Labour in power? 13 years? And did they ever cut VAT and increase income tax? No. Against that background, all this "Tory scum, vote vote vote Labour, smash the system" bullshit he posts sounds ever so slightly lame.

Labour did propose.the increase of national insurance which was opposed by Tories and also labour did implement the new 50% top rate. But alas no decrease in vat.