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Post by Nobbygas on Mar 6, 2024 23:51:03 GMT
Jeez, what a god awful budget ! The Tories have really given up and have no hope.
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Post by lostinspace on Mar 7, 2024 8:15:35 GMT
Jeez, what a god awful budget ! The Tories have really given up and have no hope. Agreed!! But the fear is SKS!! Mr Boredom itself, uninspiring to say the least....,where to go for some relief? |
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Post by Nobbygas on Mar 7, 2024 8:39:29 GMT
Jeez, what a god awful budget ! The Tories have really given up and have no hope. Agreed!! But the fear is SKS!! Mr Boredom itself, uninspiring to say the least....,where to go for some relief? The problem is that SKS will change his mind at the drop of a hat. Not only that but the 'team' around him looks hopeless. It's madness to expect those who created the problem's (Labour & Tories) to be the ones who will provide the solutions. |
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oldie
Joined: September 2021
Posts: 4,401
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Post by oldie on Mar 7, 2024 9:51:32 GMT
Agreed!! But the fear is SKS!! Mr Boredom itself, uninspiring to say the least....,where to go for some relief? The problem is that SKS will change his mind at the drop of a hat. Not only that but the 'team' around him looks hopeless. It's madness to expect those who created the problem's (Labour & Tories) to be the ones who will provide the solutions. This fiscal mess is entirely a Tory construct predicated upon their disastrous austerity driven fiscal policies post 2010 (I did warn you), their pandering to the ultras in their party which dumped Brexit upon us, the chaos of Boris Johnson, COVID which was not their fault and Sunak's response was correct apart from the administrative incompetence that ran it, the chaos of the "Lettuce" (Truss) leading to Sunak who is like a rabbit in the headlights. So here we are 14 years later, and we learn that real incomes will not match pre 2008 levels until 2026, at best. Now their supporters are telling us to vote Reform, because they have a "plan" The problem is they don't their current policy documents are an absolute joke of semi literate innumeracy. Nice |
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oldie
Joined: September 2021
Posts: 4,401
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Post by oldie on Mar 7, 2024 10:06:58 GMT
The fallout from yesterday’s budget is continuing, as banks and think tanks dig into the numbers behind Hunt’s speech.
Citigroup has a particularly downbeat assessment, saying that rather than the budget meeting his rules, the Chancellor is actually “fiscally offside” by £50 to £60 billion.
Citi says that’s because the OBR’s productivity forecasts are overly optimistic, leaving the picture £30 to £35 billion worse than laid out by the watchdog. It adds “assuming – we think fairly – that real terms cuts penciled into the current spending profile are undeliverable,” the UK will need a extra £20 to £25 billion of funding to plug that gap too.
Citi’s team says the budget “disappointed” their expectations. They’re pretty downbeat on the economic outlook for the UK too:
“Fiscal policy is instead now catching up with the increase in interest rates. And with fiscal support now being wound down and monetary tightening spooling up, the implication is a more challenging economic outlook than commonly thought.”
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Post by Nobbygas on Mar 7, 2024 10:23:13 GMT
The problem is that SKS will change his mind at the drop of a hat. Not only that but the 'team' around him looks hopeless. It's madness to expect those who created the problem's (Labour & Tories) to be the ones who will provide the solutions. This fiscal mess is entirely a Tory construct predicated upon their disastrous austerity driven fiscal policies post 2010 (I did warn you), their pandering to the ultras in their party which dumped Brexit upon us, the chaos of Boris Johnson, COVID which was not their fault and Sunak's response was correct apart from the administrative incompetence that ran it, the chaos of the "Lettuce" (Truss) leading to Sunak who is like a rabbit in the headlights. So here we are 14 years later, and we learn that real incomes will not match pre 2008 levels until 2026, at best. Now their supporters are telling us to vote Reform, because they have a "plan" The problem is they don't their current policy documents are an absolute joke of semi literate innumeracy. Nice Once again, you provide no context. Why did the Tories have to introduce austerity? It was because the country was broke after the Blair/Brown years. The Tories did not 'dump' Brexit on us. All the political parties promised a referendum in their manifesto's. Brexit was the wish of the majority of British people. The absolute mess in the HoC for three years after the Brexit vote was also the responsibility of Labour. If they had backed May at the time you would have had the ultra-soft Brexit you all craved (thank god they didn't). Yes, I will give you that the Tories nave totally screwed up, but the blame for the mess cannot be laid entirely at their door. And let's not forget the absolute scandal of PFI that Labour had inflicted on the country, which we are still paying for to this day. Tory supporters are not calling for people to vote Reform. The people calling for that are those among us who have had enough of the constant repeated failures of both Labour and Tory governments. As for Reform suffering from 'semi litterate innumaracy' issues, have you been listening to Labour? It's obvious you are happy to continue with the same-old, same-old, with the same-old results. Others of us are saying it's time for things to change. |
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Post by Nobbygas on Mar 7, 2024 10:25:52 GMT
The fallout from yesterday’s budget is continuing, as banks and think tanks dig into the numbers behind Hunt’s speech. Citigroup has a particularly downbeat assessment, saying that rather than the budget meeting his rules, the Chancellor is actually “fiscally offside” by £50 to £60 billion. Citi says that’s because the OBR’s productivity forecasts are overly optimistic, leaving the picture £30 to £35 billion worse than laid out by the watchdog. It adds “assuming – we think fairly – that real terms cuts penciled into the current spending profile are undeliverable,” the UK will need a extra £20 to £25 billion of funding to plug that gap too. Citi’s team says the budget “disappointed” their expectations. They’re pretty downbeat on the economic outlook for the UK too: “Fiscal policy is instead now catching up with the increase in interest rates. And with fiscal support now being wound down and monetary tightening spooling up, the implication is a more challenging economic outlook than commonly thought.” As I have already said, the Budget was a joke. |
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oldie
Joined: September 2021
Posts: 4,401
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Post by oldie on Mar 7, 2024 11:11:49 GMT
This fiscal mess is entirely a Tory construct predicated upon their disastrous austerity driven fiscal policies post 2010 (I did warn you), their pandering to the ultras in their party which dumped Brexit upon us, the chaos of Boris Johnson, COVID which was not their fault and Sunak's response was correct apart from the administrative incompetence that ran it, the chaos of the "Lettuce" (Truss) leading to Sunak who is like a rabbit in the headlights. So here we are 14 years later, and we learn that real incomes will not match pre 2008 levels until 2026, at best. Now their supporters are telling us to vote Reform, because they have a "plan" The problem is they don't their current policy documents are an absolute joke of semi literate innumeracy. Nice Once again, you provide no context. Why did the Tories have to introduce austerity? It was because the country was broke after the Blair/Brown years. majority of British people. The absolute mess in the HoC for three years after the Brexit vote was also the responsibility of Labour. If they had backed May at the time you would have had the ultra-soft Brexit you all craved (thank god they didn't). Yes, I will give you that the Tories nave totally screwed up, but the blame for the mess cannot be laid entirely at their door. And let's not forget the absolute scandal of PFI that Labour had inflicted on the country, which we are still paying for to this day. Tory supporters are not calling for people to vote Reform. The people calling for that are those among us who have had enough of the constant repeated failures of both Labour and Tory governments. As for Reform suffering from 'semi litterate innumaracy' issues, have you been listening to Labour? It's obvious you are happy to continue with the same-old, same-old, with the same-old results. Others of us are saying it's time for things to change. "Why did the Tories have to introduce austerity? It was because the country was broke after the Blair/Brown years.' False. It was fraud in the American mortgage market which rendered packaged debt valueless and left banks with hollowed out balance sheets. That's is what caused the crisis in the financial markets, not over spending by the government. As I recall debt to GDP was 48% going into the bank bail outside by the taxpayer. Look where is now, nigh on 100%. "The Tories did not 'dump' Brexit on us. All the political parties promised a referendum in their manifesto's. Brexit was the wish of the" I don't recall it being in the Labour manifesto of 2015. "In the election campaign, Labour Party policy was that such a referendum would be an unnecessary distraction from government priorities." "And let's not forget the absolute scandal of PFI that Labour had inflicted on the country, which we are still paying for to this day." That was a John Major government construct, which Labour carried on. On Reform...yeah right |
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Post by Nobbygas on Mar 7, 2024 14:47:34 GMT
Once again, you provide no context. Why did the Tories have to introduce austerity? It was because the country was broke after the Blair/Brown years. majority of British people. The absolute mess in the HoC for three years after the Brexit vote was also the responsibility of Labour. If they had backed May at the time you would have had the ultra-soft Brexit you all craved (thank god they didn't). Yes, I will give you that the Tories nave totally screwed up, but the blame for the mess cannot be laid entirely at their door. And let's not forget the absolute scandal of PFI that Labour had inflicted on the country, which we are still paying for to this day. Tory supporters are not calling for people to vote Reform. The people calling for that are those among us who have had enough of the constant repeated failures of both Labour and Tory governments. As for Reform suffering from 'semi litterate innumaracy' issues, have you been listening to Labour? It's obvious you are happy to continue with the same-old, same-old, with the same-old results. Others of us are saying it's time for things to change. "Why did the Tories have to introduce austerity? It was because the country was broke after the Blair/Brown years.' False. It was fraud in the American mortgage market which rendered packaged debt valueless and left banks with hollowed out balance sheets. That's is what caused the crisis in the financial markets, not over spending by the government. As I recall debt to GDP was 48% going into the bank bail outside by the taxpayer. Look where is now, nigh on 100%. "The Tories did not 'dump' Brexit on us. All the political parties promised a referendum in their manifesto's. Brexit was the wish of the" I don't recall it being in the Labour manifesto of 2015. "In the election campaign, Labour Party policy was that such a referendum would be an unnecessary distraction from government priorities." "And let's not forget the absolute scandal of PFI that Labour had inflicted on the country, which we are still paying for to this day." That was a John Major government construct, which Labour carried on. On Reform...yeah right Yes, the Tories did introduce PFI but it was used on a very limited basis. It was Labour who went bats**t crazy with PFI, as you well know. "It was fraud in the American mortgage market which rendered packaged debt valueless and left banks with hollowed out balance sheets. That's is what caused the crisis in the financial markets, not over spending by the government. As I recall debt to GDP was 48% going into the bank bail outside by the taxpayer. Look where is now, nigh on 100%." - Ah, so Labour were not to blame but the Tories are to blame for Covid and Ukraine? Right. |
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oldie
Joined: September 2021
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Post by oldie on Mar 7, 2024 17:07:10 GMT
"Why did the Tories have to introduce austerity? It was because the country was broke after the Blair/Brown years.' False. It was fraud in the American mortgage market which rendered packaged debt valueless and left banks with hollowed out balance sheets. That's is what caused the crisis in the financial markets, not over spending by the government. As I recall debt to GDP was 48% going into the bank bail outside by the taxpayer. Look where is now, nigh on 100%. "The Tories did not 'dump' Brexit on us. All the political parties promised a referendum in their manifesto's. Brexit was the wish of the" I don't recall it being in the Labour manifesto of 2015. "In the election campaign, Labour Party policy was that such a referendum would be an unnecessary distraction from government priorities." "And let's not forget the absolute scandal of PFI that Labour had inflicted on the country, which we are still paying for to this day." That was a John Major government construct, which Labour carried on. On Reform...yeah right Yes, the Tories did introduce PFI but it was used on a very limited basis. It was Labour who went bats**t crazy with PFI, as you well know. "It was fraud in the American mortgage market which rendered packaged debt valueless and left banks with hollowed out balance sheets. That's is what caused the crisis in the financial markets, not over spending by the government. As I recall debt to GDP was 48% going into the bank bail outside by the taxpayer. Look where is now, nigh on 100%." - Ah, so Labour were not to blame but the Tories are to blame for Covid and Ukraine? Right. Wrong again Even on this thread I said that COVID was not their fault and that supported Sunak's response (a pure Keynasian text book response if ever there was one) As for Ukraine, who is blaming any party, certainly not me. No no.The Tories and their ideologically driven economic incompetence has led us to this. 1997 all over again. |
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Post by Nobbygas on Mar 8, 2024 9:01:03 GMT
Yes, the Tories did introduce PFI but it was used on a very limited basis. It was Labour who went bats**t crazy with PFI, as you well know. "It was fraud in the American mortgage market which rendered packaged debt valueless and left banks with hollowed out balance sheets. That's is what caused the crisis in the financial markets, not over spending by the government. As I recall debt to GDP was 48% going into the bank bail outside by the taxpayer. Look where is now, nigh on 100%." - Ah, so Labour were not to blame but the Tories are to blame for Covid and Ukraine? Right. Wrong again Even on this thread I said that COVID was not their fault and that supported Sunak's response (a pure Keynasian text book response if ever there was one) As for Ukraine, who is blaming any party, certainly not me. No no.The Tories and their ideologically driven economic incompetence has led us to this. 1997 all over again. No, you are missing the point. You claim bankrupt Britain at the end of the Labour rule was not their fault but was caused by the banking crisis. You then claim that bankrupt Britain now is caused by Tory policy but you ignore the huge costs of Covid and Ukraine, when the reality is that both Labour and Tory have been useless. |
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trymer
Joined: November 2018
Posts: 1,504 
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Post by trymer on Mar 8, 2024 9:40:28 GMT
This fiscal mess is entirely a Tory construct predicated upon their disastrous austerity driven fiscal policies post 2010 (I did warn you), their pandering to the ultras in their party which dumped Brexit upon us, the chaos of Boris Johnson, COVID which was not their fault and Sunak's response was correct apart from the administrative incompetence that ran it, the chaos of the "Lettuce" (Truss) leading to Sunak who is like a rabbit in the headlights. So here we are 14 years later, and we learn that real incomes will not match pre 2008 levels until 2026, at best. Now their supporters are telling us to vote Reform, because they have a "plan" The problem is they don't their current policy documents are an absolute joke of semi literate innumeracy. Nice Once again, you provide no context. Why did the Tories have to introduce austerity? It was because the country was broke after the Blair/Brown years. The Tories did not 'dump' Brexit on us. All the political parties promised a referendum in their manifesto's. Brexit was the wish of the majority of British people. The absolute mess in the HoC for three years after the Brexit vote was also the responsibility of Labour. If they had backed May at the time you would have had the ultra-soft Brexit you all craved (thank god they didn't). Yes, I will give you that the Tories nave totally screwed up, but the blame for the mess cannot be laid entirely at their door. And let's not forget the absolute scandal of PFI that Labour had inflicted on the country, which we are still paying for to this day. Tory supporters are not calling for people to vote Reform. The people calling for that are those among us who have had enough of the constant repeated failures of both Labour and Tory governments. As for Reform suffering from 'semi litterate innumaracy' issues, have you been listening to Labour? It's obvious you are happy to continue with the same-old, same-old, with the same-old results. Others of us are saying it's time for things to change. Good point about context Nobby, another thing is comparing life here with other countries rather than just looking at Britain,I would rather be here than living as person in my position in Germany or France. |
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oldie
Joined: September 2021
Posts: 4,401
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Post by oldie on Mar 8, 2024 13:38:10 GMT
Wrong again Even on this thread I said that COVID was not their fault and that supported Sunak's response (a pure Keynasian text book response if ever there was one) As for Ukraine, who is blaming any party, certainly not me. No no.The Tories and their ideologically driven economic incompetence has led us to this. 1997 all over again. No, you are missing the point. You claim bankrupt Britain at the end of the Labour rule was not their fault but was caused by the banking crisis. You then claim that bankrupt Britain now is caused by Tory policy but you ignore the huge costs of Covid and Ukraine, when the reality is that both Labour and Tory have been useless. Do the math. At the last count UK GDP is £2.275 trillion The government spent between £300-400 billion supporting the economy during COVID. Let's take the median.£350 billion Thats roughly 15% of GDP as quoted. On Ukraine it's about £7billion That's about .003% so let's ignore that. So if the Tories had maintained the 48% debt ratio the national debt would be £1.092 trillion. Let's back the COVID costs at £350 billion, so debt would be £1,442 billion. It's not. It's 100% of GDP which is £2,275 trillion. That's a cool £833 billion gone. On what? Improved NHS?...No Rekitting the armed forces...No Improving education....No Building Houses...No Improving Social Services...No In fact can anyone name anything that has got better since 2010? No? Me neither. And for that we borrowed an extra £833 billion. |
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trymer
Joined: November 2018
Posts: 1,504
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Post by trymer on Mar 8, 2024 16:14:44 GMT
One funny picture from the budget was Rayners face contorted with outrage when the chancellor mentioned her name in some change to stamp duty,she was totally rattled,brilliant.
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oldie
Joined: September 2021
Posts: 4,401
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Post by oldie on Mar 8, 2024 16:26:25 GMT
One funny picture from the budget was Rayners face contorted with outrage when the chancellor mentioned her name in some change to stamp duty,she was totally rattled,brilliant. That affects so many people. All the stuff going on and cheap jibes spikes your interest. Tells us all we need to know |
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