The Chancellor's Unfunded Spending Hikes
Back in 2005 Gordon boasted in his budget of "economic growth for the 50th consecutive quarter" in 2006. The next year he did not subsequently boast of 54 consecutive after Guido pointed out that he was taking credit for the five years of growth under the Tories following White Wednesday in 1992.
The point of Guido giving this background is to highlight that during all this long unbroken period of economic growth, Gordon failed to pay down the government debt - a truly prudent Chancellor would have done it at some strong point in the economic cycle. He did however forecast the budget surplus this year to be of some £9 billion, in fact the budget will probably be in deficit £9 billion. As Michael Fallon points out, despite many predictions to the contrary, the budget has never been in surplus* under this government. Gordon's imprudence over the last 5 years alone has led to £69 billion in unplanned and unfunded spending hikes. The public sector has been bloated by a governing Labour party beholden to public sector unions for funding.
Who pays for this unfunded spending? Middle class taxpayers of course. The interest on the government's ballooning debts consumes an ever increasing share of tax revenues. The nationalisation of Northern Rock further smashed the golden rule by £110 billion. We are now heading for G.F.T.** in a weakened fiscal position compared to other major economies. Alastair's response? The word from the Treasury is that they plan to fiddle the statistics so that the golden rule will magically become unbroken. An illusion that will fool no-one.
Remember this when the new Chancellor talks about budgetary control or prudence in his budget speech. Treat any promises of future surpluses as a bad joke. Any "Green" tax hikes should be seen as what they really are, an excuse to tax the middle classes even more. The truth is Labour's out of control unfunded over-spending hikes have added to Britain's economic woes.
The budget should:
The point of Guido giving this background is to highlight that during all this long unbroken period of economic growth, Gordon failed to pay down the government debt - a truly prudent Chancellor would have done it at some strong point in the economic cycle. He did however forecast the budget surplus this year to be of some £9 billion, in fact the budget will probably be in deficit £9 billion. As Michael Fallon points out, despite many predictions to the contrary, the budget has never been in surplus* under this government. Gordon's imprudence over the last 5 years alone has led to £69 billion in unplanned and unfunded spending hikes. The public sector has been bloated by a governing Labour party beholden to public sector unions for funding.
Who pays for this unfunded spending? Middle class taxpayers of course. The interest on the government's ballooning debts consumes an ever increasing share of tax revenues. The nationalisation of Northern Rock further smashed the golden rule by £110 billion. We are now heading for G.F.T.** in a weakened fiscal position compared to other major economies. Alastair's response? The word from the Treasury is that they plan to fiddle the statistics so that the golden rule will magically become unbroken. An illusion that will fool no-one.
Remember this when the new Chancellor talks about budgetary control or prudence in his budget speech. Treat any promises of future surpluses as a bad joke. Any "Green" tax hikes should be seen as what they really are, an excuse to tax the middle classes even more. The truth is Labour's out of control unfunded over-spending hikes have added to Britain's economic woes. The budget should:
- Focus on a growth-package to boost real incomes based on reducing the tax burden for those on low and middle incomes.
- A boost for small businesses with reductions in corporation tax to Irish levels (12.5%).
- A civil service recruitment freeze. We don't need any more bureaucrats.
*As pointed out in the comments, this is apart from the extraordinary 2001 windfall from the 3G bandwith auction bonanza. A one time bonus never to be repeated.
**Global Financial Turbulence in the vernacular of the Treasury.
75 comments:
"An illusion that will fool no-one."
You wish... Spin has worked so far, why shouldn't it work now?
If they do fiddle the figures, they're going to have to do it in a pretty dramatic way this time. Northern Rock makes the regular budget deficit look like small change.
Absolutely right about the impending tax rises, all of which will be cloaked in 'worthy' excuses ('Green' issues, 'binge drinking' etc).
The only difference between this instance of Labour's unfitness to govern and earlier disasters, is that this time they have learned to lie to a better standard and have been aided by weak opposition and a compliant media.
Expect binge taxing and binge spending from Darling. He'll wrap it up with words like green and child poverty but once the beancounters check the numbers, they'll see it's heading quickly towards familiar tax n' spend.
Brown's splurged money on wasteful IT contracts and flooded the NHS with cash, when a planned irrigation of money would have been prudent.
With an economic storm heading here, the roof of the UK risks being torn off because we haven't made preparations. Thanks to reckless spending, Britain is one of the worst-placed economies to weather a global downturn.
Watch VAT on goods & services. Watch anything that the slippery reptiles can slap a "green" tax on. Those who will suffer will be the lower middle-classes working under the threat of redundancy and the poorest.
A civil service recruitment freeze? We need a cull.
What we should be doing is the following:-
1] We should recognise that we simply cannot allow ourselves as government or individuals to get into more debt. Interest rates should be increased to punitive levels to cut off the supply of M4 broad (i.e. "easy") money. This was done during the Geoffrey Howe/Paul Volcker years with success, and is currently taking place in Australia. Yes, it is painful - like going on a diet after a 10 year binge.
2] We dramatically reduce public spending by about £50bn per year. This will result in considerable job losses (approx 3million), but clearly we cannot afford to keep these people on public finance anyway so at some point they must go - they should never have been employed by debt spending in the first place.
3] We introduce a package of stimulus for the private sector, particuarly aimed at exporting industry and reducing imports. This will eventually re-balance our trade with the rest of the world and absorb the 3million+ that will be unemployed as a result of cutting back on unfunded public spending.
4] We introduce a Swiss-style constitution that lays down laws about how much debt a government can get into, how much cash reserves a bank must hold and how much gold must be held in reserve. This will stop this deceitful gerrymandering whereby a government uses debt to bolster its support amongst a particular group of voters knowing full well that it will end in economic disaster but knowing it will also be "someone elses problem" when the shit hits the fan. Those responsible for the current economic woes should be investigated and hounded out of office, never to return to public life. We must never allow a situation like this to happen again.
If we don't take these actions and take them soon then we really will be heading for disaster.
nulab = Serially Incompetent
Criminally Corrupt
Why can't the Tories promise to pay off the national debt and cut taxes as the interest payments fall?
By the time we'd paid off the entire debt we could save £31bn in interest payments a year - excluding revenue increases via higher economic activity caused by the cuts.
Guido - any idea how much interest has been paid under Labour?
We are all having to cut our spending, why should Labour not do the same. As last time they were in power they are spending far to much. Some people never learn.
Thanks Guido for telling the British people the truth.
I have awarded you a BEM.
He is going to have to grab more Tax to pay for all the public sector spending that Brown has burdened the nation with.
Of course he won't fess up and say it like it is, " Brown has stitched me (and you) up and I have to tax you more", which would probably go down quite well. He will introduce more taxation thinly disguised as green and health initiatives, which will Not go down quite well.
All very true Guido. It is easy to talk about uninterrupted growth when the Chancellor keeps his foot on the accelerator pedal, pumping money into the public sector while the private sector is virtually flat (viz FTSE levels about the same as 10 years ago).
It would be uinteresting to see GDP growth figures drawn up separately for the public and private sectors (including all the off balance sheet numbers in PFI). The private secor figures would tell a very different story.
gordon brown has completely fucked the economy.
end of story.
now, because of his own wasteful spending as chancellor and his junkie like need for cash he is forced to snap the neck of the goose that lays the golden eggs. in the oven it goes!
this is gordon and alistair's last supper.
I give the new labour party six months.
these useless cunts will definitely not make it to christmas. no goose see?
Much as I dislike GB,a great deal of the problem is down to Blair's announcement of huge year on year increases in NHS spending.It is a double problem-not all the money was there and the NHS was not prepared for the extra spend.Like all big organisations,they were never going to return some of their appropriation in case it never appeared again and so it has been spent for its own sake and not as the result of proper planning.
Can anyone point at where this money has gone?
We still have shocking public transport, poor roads, lousy hospitals, waiting lists, postcode lotteries... we still have a huge number of poor and our armed forces are begging other countries' troops for working bullets.
At the same time our taxes are becoming oppressively high and companies are departing the UK for governments less grasping.
This nation will now inevitably sink into bankruptcy?
The REAL chancellor will smile and pick and eat his own snot whilst Darling reads his script to Parliament.
Today's Telegraph reports that Alistair Darling, and Gordon Brown want to end the 'boom and bust' nature of the housing market.
Funny that. Coming from Gordon "I will not let house prices get out of control [1997]" Brown.
They were never bothered about the boom side of the equation when prices, the engine of Gordon's 'miracle economy' were rocketing.
Now the bust is coming and Darling wants to dish out "gold standard" mortgages at all, as to allow banks to decide who gets credit, could be discriminatory
Alex said...
"the private sector is virtually flat (viz FTSE levels about the same as 10 years ago)."
If you look at a chart of the FTSE over the past 40 years you will see that it is not a useful indicator of the general state of the private sector.
Spot on Guido.
What concerns me is whether the Torys can make these points with the force they deserve.
The BBC moneybox programme stated last night that a person on £35,000 a year will be paying an extra £11 per week in tax and national insurance from 1st April.
So that's another £572 per annum deducted from the disposable income of an average worker.
This isn't a budget prediction - it was in Brown's 2007 budget, but delayed for a year so that the Great Hero could move on before it started to bite.
The economy now needs someone brave enough to take huge decisions - oh dear, but we've got Ali and Gord who, between them, have never made a tough decision in their lives!
The Titanic has hit the iceberg, water is starting to make the ship list and all we'll get from these complete wankers is: -
The economic fundamentals are sound
We have low inflation
We have low interest rates
In other words, steady as she goes captain! Well, I'll give it between 6 and 9 months (let's say Christmas) before ship turns turtle spilling thouands and thousands over the side into deep water. But, at the enxt general election, you can bet, the morons will still vote these wankers back in!
If they do, I'm off to Vietnam - there'll be a better standard of living!
Thick as Shit said...
"I give the new labour party six months.
these useless cunts will definitely not make it to christmas. no goose see?"
Why don't you do us all a favour and you fuck off for 6 months.
New Labour lies and when it gets caught out it changes the vocabulary - Orwellian style - so that it can try to spin its way out of trouble.
Plain fact is that the ordinary hard working lower and mid middle classes - are being squeezed until the pips squeak in a way that old labour so wanted to do; but it took New Labour - masquerading as friends of the middle classes - to do it.
Snotgobbler and his handwringing bunch of wets hate and despise the middle classes, and love to milk them so that they can finance their pet social engineering projects, as well as make sure the unemployed are kept up to date with a nice 42 inch plasa telly.
This is what they have always wanted..it's what the marxists have been dreaming of since they held their silly wank-fest meetings at university and fantasised aboutthe kind of UK they wanted to live in.
Well now they are getting it..except of course they all have their snouts so far in the trough that they are immune from the financial pain we all have to bear, immune from lawlesness, immune from pension theft, immune from the crappy NHS, immune from lousy and expensive public transport, immune from crap schools....sat up there in their cossetted, protected westminster world of plenty.
This must surely be the most hated, despised Government ever.
A man sees a Farmer who has a goose with a wooden wing and one wooden leg.
The man asks why.
Well says the farmer, whenever I kick that bird in the arse, it lays a golden egg.
That's amazing says the man.
Aye, and when you feed it a big bag of manure, it vomits up gold coins.
That really is amazing. But why does it have a wooden wing and a wooden leg.
Well when you have something as precious as this bird, you don't want to eat it all in one go.
{From the joke book of socialist governments}
Well Mr Fawkes, when will you finish what your famous relative started ?
Can't happen soon enough !
The good news is that so far the pain of recession is no more than a rumour on the horizon. Thus only those with the wit to read a newspaper properly have realised that NuLabour have screwed the economy. So far their support remains at 30%. But when the pain of recession really bites then they will turn on Gordon with a vengeance.
However, Gordon just won't be able to take the bitter pill that retreat from his public spending commitments would symbolise. So he will keep on spending and the economy will continue to spiral out of control. After 2 years EVERYONE will know what Gordon has done to the UK and that will be the end of Labour forever.
Gordon simply cannot take the steps that would save us from ruin. That would put 3million people out of work on top of the 1.6million that are out of work already. So he and his administration are primed for total meltdown. There is no escape.
Gordon is a moron.
I am a bit pissed off with the phrase 'economic stability' when applied to NOT cutting taxes. All of them are at it. Osborne on Marrs prog yesterday was talking this bollocks. It has become a mantra that high taxes and governemnt spending = 'stability' -whatever 'stability' is. And that cutting taxes will lead to 'instability'. This is cobblers. High taxes are in themselves destabilising. And this point needs to be made, forcefully.
How the Hell we have got to the situation where everyone seems to believe that high taxes equals stability I just do not know, especially as the opposite is evidentially true. I mean, just look around you.
Come back Robin Hood.
Well, at least one truism is now playing out. 'All Labour governments run out of money sooner or later'. Trouble is it is our money that they run out of.
Wankers
Red lines Brown speaks all the time about. what he fails to point out is that the EU Parliament will be in a poisition to Veto anything it does not like...Here is a perfect example of this in action.
Saturday, March 08, 2008
EU to Ireland: Drop Dead
by Baron Bodissey..gate of vienna.
“The mask, at last, has slipped.”
The creation of the post-Lisbon EU superstate requires two things:
1. The removal from the governing class in Brussels of any accountability to the people back home who ostensibly elected them.
2. The suppression of freedom of speech and the press, so that the vision of the EU as an Emerald City of Oz is never tarnished by the intrusion of reality.
To ram the Lisbon Treaty down the throats of the various European peoples, sufficient anesthesia must first be applied: lavish social welfare programs, entertaining dreck 24/7 on the state media, and a massive barrage of propaganda touting the beneficial wonderfulness of the European Union. Then, when the patient is adequately groggy, any feeble expressions of his wishes may be safely waved aside.
That’s what’s happening in Ireland: It looks like it no longer matters whether or not there’s an Irish referendum on the Treaty of Lisbon.
This story appeared a couple of weeks ago, but I just learned about it. According to Libertas, an Irish free-market site, the EU has voted to simply ignore the results of any Irish referendum against the Lisbon Treaty. To make matters worse, one of Ireland’s own elected MEPs voted with the majority not to respect the outcome of any Irish referendum.
Here’s the full story from Libertas:
- - - - - - - - -
Responding to News that Irish MEP Proinsias De Rossa joined a large majority of MEPs in voting to reject a motion that committed the EU to “respecting the outcome of the referendum in Ireland”, Libertas President Declan J. Ganley issued the following statement:
“Today’s vote is absolute confirmation that the EU Parliament is committed to ignoring the will of the people.
By a majority of 499-129, the Parliament has sent a message to the Irish people to say ‘we don’t care what you think’.
I condemn Proinsias De Rossa absolutely for this vote, and I urge him to give an explanation to the people who elected him.
This Treaty is designed to remove as much power from the people as possible, and today’s vote confirms the mindset behind it.
With this treaty, we will get a President and a Foreign and Defence Minister of Europe unaccountable to us at the ballot box. We will get a Europe that has power over Irelands Foreign Direct Investment policy, and can hamstring the valuable work of the IDA.
This Treaty is bad for our economy because Europe isn’t simply an economic partner, its an economic competitor as well. We need to be able to set ourselves apart economically, — that power is what has made us so successful, and this treaty removes that power.
Proinsias De Rossa’s actions today were disgraceful, and I condemn them, but at the same time, I welcome the fact that the mask, at last, has slipped”.
A Nation can survive its fools and even the ambitious . But it cannot survive treason from within. For the traitor appears no traitor; he speaks in the accents familiar to his victims and he wears their face and their garments…… Cicero
Ah, the liberal-left is riding to the rescue. Stuff this high-tech society we live in. Use our gardens to grow our own wheat!
http://news.bbc.co.uk/1/hi/magazine/7284011.stm
Why, we might well be able to grow enough wheat for a couple of loaves of bread a year!
why pay the new taxes?
if we took an american view on things and deducted 17.5% from everything we buy and 60-70% on petrol,x% on booze & fags then what will they do?
probably shoot us i suppose..
after reading this
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/10/03/nbrown603.xml
where it states that Britain was no longer the USA top ally but it is now Germany and France according to Bush!
i was confused, and offended - very litle if any troop contribution from Germany and France for USA wars in the middle east! our boys are dying and Bush disregards us!
mmmm what could be going on i wondered?
then it all started to click, Bush is well aware that france and Germany hold all the influence over the EU, the EU is part of the NWO that Bush is also keen to impliment so its time to cosy up to France and Germany who will be the main players of the EU part of the NWO.
this also indicates how the UK will be disregarded by Europe once the EU gets full power.
Germany gets its third reich and the rest of Europe has to beg for all they get.
i say to bush if gernany and france are such great allys its time to pull our troups out and let you go it alone.
still bush knows that once the EUSSR takes full power of Europe then the EUSSR also get our armed forces most likely through conscription,
forget the horseshit Brown talks of RED LINES if Brown and his fascist friends know full well that with the final constitution/treaty signed, the EU can and will do anything they wish and can grant themselfs any powers they so wish, including the taking over of all armed forces, and this will be an EUSSR priority, The separate nations armed forces are the biggest to the EU should any nation wish to pull away as it would allow any nation wishing to withdraw to be able to protect themselfs fromany EUSSR agression.
so with our armed forces controlled by the EU in the near future, bush and his like will have control over us in the uk through the power of France and Germany who will control the EU an supply any forces the americans want as part of their New world order expanding system and we will be their poodle forever more.
and there is nothing anyone in the UK could do about it as all our young are sent off to fight wars for more globalist corporate greed.
who`s to say that the ever spreading EU will not at some point want to make a grab for Russia for its gas resouses etc?
it would be easy for the EU to engineer a war with Russia, perhaps the EU starts making grabs for Russian controlled Satilight states Knowing full well Russia will not be happy, so Russia cuts of gas to these states to bring them into line - the EU declares this as an act of war.
the EUSSR would know that they could raise a massive force with conscrption and hell what have the leaders got to lose? - a few million working class Europeans who never beileved in any agresion and never wanted any war, and after it all ends as a big game for the globalist leaders, the leaders will still be sitting pretty as heads of a fascist state knowing full well that they cannot be removed.
I was sure that Brown as Chancellor DID in one budget announce that c. £ 34 billion was being paid off the National debt, in the early noughties. Unfortunately I cannot find confirmation. In the 2003 budget he announced a £32bn surplus forecast over the economic cycle - which may not be the same thing.
"The Chancellor in his Budget speech blaimed the former Labour government of Blair and Brown for the incompetent overspending and poor payback on that spending. Goverment debt had spiralled and now required radical measures to correct and put the country back on its feet. He went on to say that the Prime Minister was an out of control madman and deserved to be locked up for his traitorous actions, and that as the new Chancellor he had chosen to ingnore all the advice the PM had tried to force on him. He chose to present no future plans in the budget and would be voting against the Government after the debate, and invited members of all parties to join him and force a vote of no confidence."
And then I woke up.
A bit off-topic but this is great news:
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/03/10/nbrown110.xml
Here's hoping that 'Free State politics will result in a NO vote. But Ahern would ignore that anyway, let alone the EU - so what chance liberty?
We are now heading for G.F.T.*
*Gordon's Foulup Tax
backwoodsman = probably right, definitely boring.
Isn't it time you got yourself a new catch phrase?
Yo Guido,
Do you know who 'Civil Serf' is?
According to Brown Broadcasting Corporation Dave the Pits Watson is the new General Secretary of SS Titanic Labour..... ABSOLUTELY NOTHING TO DO WITH THE £2500 TROUSERED BY GORDO FROM Pits for his UNCONTESTED leadership campaign.
As always , very seemly.
Big trough....big snouts....MPs can claim the mortgage costs associated with a second home and with the booming property market – particularly in central London – many have made a fortune. I am told that one minister has recently pocketed more than £200,000 on a Westminster flat he bought after the 2001 election. Tony Blair's constituency home – paid for by taxpayers – has risen six-fold since he bought it in the early 1980s. Others are thought to have windfalls running to more than £1m that they are looking forward to banking after the next election.
Which rather begs the question as to why the taxpayer – which effectively paid for these properties – is not benefiting from at least some of the increase in their values?
Did anyone see that thing in the OB yesterday about the top 50 blogs? It was well good. This one wasn't in it.
You fuckers wouldn't pass retard-grade economics 101 between you.
Guido says "The next year he did not subsequently boast of 54 consecutive after Guido pointed out that he was taking credit for the five years of growth under the Tories following White Wednesday in 1992."
That'd be the only fucking worthwhile growth under the Tory dipshits and even that was an unintended consequence of an almight fuck-up. Top job after 18 years. Peerages and directorships all round.
@Bergen said...
// Much as I dislike GB,a great deal of the problem is down to Blair's announcement of huge year on year increases in NHS spending.//
What Blair announced was what Brown allowed him to announce. The purse strings - i.e. the economy - was always under his control, from day 1. So the extraordinary waste of money that NHS "investment" has been is down to Brown. And that doesn't include the PFI debt burden.
Does anyone know yet whether the prize in the Viz-sponsored competition to establish the colour of Alistair Darlings pubic hair has yet been won.
The subject revolts me but at least it's grounded in reality, unlike so much of what he says.
That'd be the only fucking worthwhile growth under the Tory dipshits and even that was an unintended consequence of an almight fuck-up. Top job after 18 years. Peerages and directorships all round.
Hell Mr Elsby. Misusing the Job Club computers again I see. How's the weather up in Stoke?
Surely World Financial Turbulence(WFT).
Now rearrange as appropriate!
Anon 4.01.
You're a bit of a wanker aren't you?
Look at it this way. It took Thatcher and Major from 1979 to 1997 to undo the previous Labour foul up. For example go away and find a graph of inflation from 1947 to 2007. You will see that it was the Tories that conquered it, not lying Mcfuckingbean.
And if you look hard enough you will find that Callaghan (I think) realised in 1978 what the problem was but the Unions would not play ball, and consequently we got Thatcher.
Overall Labour has spent shed loads of capital very badly from since it first got into power with Bonar Law. It's core philosophy of nationalisation has been proved to be stupid and it was abandoned with cl4.4. All that is left is tax and spend. This administartion has proved once and for all that this is also a totally stupid idea and this time might very well see the end of the whole tragic socialist 'project'.
I really, really object to be experimented upon by a load of lightweight self serviving shit heads, probably better described as clever idiots. I loathe it more than I loathe Tory arrogance and jobs for their mates.
But, and it's a qualified but, the Tories are less likely to make such an almighty screw up of the economy that you stupid lying shits of socialists.
Fuck off now.
The very last time our Balance of Payments regarding Goods & Services, was in the black was in the 2nd Quarter of 1997. The cumulative total of our trade deficit with all other countries since then is a horror story. Not for one single quarter since 1997 have our trade figures been out of the red zone. Although Brown and his lackies at the National Statistics Office have tried to whitewash over it with plenty of bullshit, this is a fact (if you have the patience to read it)
"I was sure that Brown as Chancellor DID in one budget announce that c. £ 34 billion was being paid off the National debt, in the early noughties."
Yes, that was when he paid off the £35bn that was all that was left of the national debt thanks to Ken Clarkes excellent management of the economy in the previous administration by selling licences for 3G mobile phones.
Sadly those 3G mobile phone licences became rather to expensive leading to Vodafone (previously a shining star in the FTSE100) being hobbled indefinitely by its debt, while BT was split in 2 and Marconi ended up in the hands of the banks. This would have led to recession in 2001 but Gordon papered over the cracks by spending huge amounts of government (i.e. taxpayers) money to create "new jobs" (i.e. sinecures) that might otherwise have been made unemployed.
This strategy has caused the potential 2001 recession to be delayed, during which time it has grown to epic proportions. Consequently economic disaster awaits but sadly UK PLC is limping along unable to generate any more wealth.
During the last Tory government PFI vehicles were used in a modest way, but Gordon in Opposition said they were "a cynical distortion of the public finances".So when he got into government he became The Ultimate Cynical Chancellor!
Guido
A thought for you. Maybe we need more Civil Servants to replace the army of Consultants who are reported by Private Eye to be costing some £1.8bn each year. Plus I would lay a bet that the £1.8bn does not include the individual contractors that we have to hire at high daily rates to do the work that could be done (and done well) by Civil Servants for a lot less of our tax money.
Just a thought.
Any Mouse
The only thing Gordo's invested in is the recession.
lola said...
I am a bit pissed off with the phrase 'economic stability' when applied to NOT cutting taxes. All of them are at it. Osborne on Marrs prog yesterday was talking this bollocks. It has become a mantra that high taxes and governemnt spending = 'stability' -whatever 'stability' is. And that cutting taxes will lead to 'instability'. This is cobblers. High taxes are in themselves destabilising. And this point needs to be made, forcefully.
I agree and want you to become chancellor.
Surely IF our economy is in such a good enough state that we will weather the fast-unravelling World-wide economic slump, why are we not having our taxes cut? Why are we after years/quarters/month-on-month growth and have inflation under control and record employment are we not reducing corporation taxes so that our industry can boost profits?
Somewhere someone, and I know who, is telling porkies. that same someone who eats his snot.
Between Jan 07 & Jan 08 he overspent 32 Billions. The pre-budget assessment of overspend from Feb 08 up till end of March is another 30 Billions.
62 Billions in 14 months is some overspend. What is the total population of the UK? 62 millions? You do the math. And remember this is only the on-sheet figures from ONS.
This is a crazy crazy situation considering 30% of the population still think Bean IS/WAS a prudent chappy and the economy is fine.
Where has all the money gone, an article in the Guardian which sums up what the ordinary thinking Joe in the street is starting to think, he's been conned, is not the saying "You can fool some of the people some of the time, but you cannot fool the people all of the time" mind you some still think the moon is made of green cheese. The article -
http://www.guardian.co.uk/politics/2008/mar/10/budget.economics
You can bet the next time these failed lectures and crooked councilors get in they will try all this shit again but with a new name.Once again the economy will be slaughtered to the gods of tax, borrow and spend.
People say gordon is clever and studied history but only a fucking moron would do this.
Imagine the cabinet meeting when they announce the economy is failing and some pond scum says "more tax thats the answer".
Im afraid that snotgoblin has bought us a shiny new honking great recession with our money.
Sorry to be a pedant,Lola,but Bonar Law was a Tory (and very right wing).I think you are thinking of Ramsey Macdonald.
lola said
One of the main reasons that high tax is ok and tax cuts are verbotten, is that as soon as the subject comes up the BBC goes mental.
The standard demand to any mention of tax cuts, is where/how are you going to fund the difference, the BBC never allows any discussion, it's allways who is going to suffer etc.
This is the reason that there is such a mess over Non-Doms, if the Tory's weren't so scared of the BBC, they could have argued that increasing Inheritance tax allowances, was a good idea. Instead they panicked at the idea of Paxman and Humphries etc, demanding to know where the difference was comming from and picked on Non-Doms.
The BBC cannot allow any ideas of low tax to take hold, as that could easily continue on to questions about the licence tax and then all those massive salarys would be at stake.
another 5 afghan illegal immigrants were detected in cambridge, arrested by police and then released by police and told to head to croydon detention centre. needless to say they didnt arrive and another 5 would be terrorists are now at large in UK.
this must be the 5th time this has happened in east anglia in the past 2 years.
immigration authorities say they didnt have enough resources to collect them from the police.
comedy immigration controls.....fuck off nulabour liars
Camus said...
"I was sure that Brown as Chancellor DID in one budget announce that c. £ 34 billion was being paid off the National debt, in the early noughties. Unfortunately I cannot find confirmation."
From Brown's 2001 budget speech:
"After a doubling of national debt in the early 1990s .....I can tell the House that this year the net cash debt repayment will be 34 billion pounds: more debt repaid by one British Government in one year than all the total debt repaid by all the previous British Governments of the last fifty years."
In the end, £37 billion was repaid.
lola quite right
the socialist project is not just ecnomic dont forget , but quite few people are begining to suss it out, there are now so many examples of labour using thatcher languange , to create gaps for there friends businesses to set up shop.
where has all the money gone ??
is a very important question , i would imagine by the time the sophisticated nature of the socialist project is understood , the people will get to realise just how much gordons been pissing all over them for years.
dont forget socialism always requires to get hold of money resources in order to to keep going. the tories raise money run the country with governance, socialism runs the economy for its governace , its supposed to be a very strong total control idea, but time and time again it falls into corruption which need more lies and more money favours .
i tell you by the time this lot have blown it i hope that even the lowliest worker pisses on a picture of the nu labour cabinet every day , as a way of warding off evil
Yes lola. Bonar Law. Its your kind of wordy stupidity masquerading as intelligence that gets the blogosphere such a good name. Perhaps you should stick with the Karaoke or maybe just headline your economic history lessons: "This may or may not be bollocks, I'm too up my own arse to check things like facts." Fuck me sweetheart, you make Bob Ainsworth look bright.
That Cunt Osborne is a disgrace to the Tory Party.
If Dave is serious about being a Conservative then he should DUMP Boy George.
Congratulations Guido, I can see that Yvette Cooper has really got up your nose. I realy love that lady ...
Anon 7:21pm
".... In the end, £37 billion was repaid."
Let's not go so far as to call this the dividend from prudent management of the economy by the blessed Bean. That money was mainly the yield from the 3G mobile phone bandwidth auction. And, of course, it is just a memory now - spent ten times over.
In the end, £37 billion was repaid.
2001
Well done to Ken Clarke then. We should ask him to draw up spending plans for Darling.. Unless someone else has already done it for him.
I believe there may be a bottled water tax.
Lola said - Bonar Law - Lola was letting his ire get in the way of his O level history - he should have said ramsey macdonald. lola apologises.
And lets all drink to the death of a clown is stilll a wanker.
On the RMS Titanic Balls-Up, all was not well.
Second Officer: "Captain Brown! We have struck an iceberg! We are sinking!"
Captain Brown: "Nonsense! That was merely a planned delivery of ice using a unique, new delivery model. Admittedly like the PFI scheme we used to plan and construct the RMS Titantic Balls-Up, it is an untested method, but, by-and-large, it has delivered us the ice we needed in a reasonably timely manner."
Second Officer: "There was too much damned ice, Captain Brown! And thousands of gallons of water are bloody-well pouring in through a gigantic gash beneath the waterline! We have had it, you stupid twat!"
Captain Brown: "Well, that rather depends on what you mean by had it. I..."
Second Officer: "We are fucking going under you useless tosser! The ship is sinking!"
Captain Brown: "I hear what you say. But please allow me to point out that although all engines have stopped, and our power generating plant does seem to be faltering, and whilst we are dead in the water and listing to port, we are, however, in a very real sense, still making progress. Never let it be said that I, Captain Brown, would..."
Second Officer: "Fuck off, 'Captain' Brown! Abandon ship! Abandon ship! All hands this is the Second Officer speaking! Ignore Captain Brown. He's off his fucking head! Man the lifeboats! Abandon Ship!"
Captain Brown: "Wait! We haven't served cocktails, yet! What will we do with all the ice we just had delivered?"
Captain Brown: "Hello? Hello? Where is everyone? It's awfully quiet, here!"
Captain Brown: "Glub... glub... glub!"
Anon 6.33
You make a very good argument for 'privatising' (or whatever it is) the BBC.
Originally Iola, the BBC WAS a private concern. Hence the original name, the British Broadcasting Company. Later changed to Corporation when it was sort of nationalised. But not quite.
personage of nfpa 10:10 PM
Perhaps Brockbuster could sell the script to Hollywood?
Interestingly the overspend in the budget of about £32bn per year is almost exactly the same as the interest currently being paid on the debt that Labour have already run up.
Even if Labour were to keep public spending at today's levels, the overspend would add rapidly to the current debt so that in two years time another £80bn would be added to the debt. Clearly this cannot go on forever. The government must either cut public spending or raise taxes. The latter option would shift income from the private sector to the public sector. This would also be a bad idea since currently we are running a trade deficit that must also be corrected eventually. Taking more wealth out of the wealth creating private sector would be a kick in the groin to the private sector just when we need it most.
When even Larry Elliot of the Guardian is complaining about Labour's profligate spending you know you are iin trouble.
Interestingly the overspend in the budget of about £32bn per year is almost exactly the same as the interest currently being paid on the debt that Labour have already run up.
Even if Labour were to keep public spending at today's levels, the overspend would add rapidly to the current debt so that in two years time another £80bn would be added to the debt. Clearly this cannot go on forever. The government must either cut public spending or raise taxes. The latter option would shift income from the private sector to the public sector. This would also be a bad idea since currently we are running a trade deficit that must also be corrected eventually. Taking more wealth out of the wealth creating private sector would be a kick in the groin to the private sector just when we need it most.
When even Larry Elliot of the Guardian is complaining about Labour's profligate spending you know you are iin trouble.
There are plenty of people who want to start a revolution but there is no one ready to make the first move...
Do you think finding the trigger is a part of this socialist project?
"A civil service recruitment freeze. We don't need any more bureaucrats."
Eh? In an ideal world they should be taken out by the bushell and shot.
Sigh!
2:33 PM
Preferably silver bullets with crosses scratched on, if you really must, but a wooden stake driven through the heart is a much safer option.
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