News It's a double dip

Discussion in 'The Front Room' started by cHodAX, Apr 25, 2012.

  1. cHodAX

    cHodAX I am a FH squatter

    The markets forced interest rates to stay low, not government policy.
    We haven't been downgraded like Greece because we were never in the same kind of mess as Greece.
    We have paid back 1/4 of the debt?? You do know that we are still borrowing £125 billion a year right?
    The employment figures improved for 1 quarter after 7 bad quarters.
    We have more unemployed now than we did when they came into power, all that is happened is that the numbers have been jiggled around with all the benefits changes.

    Oh and you know your mighty employment figures improvement? It's all based on temporary work for the Olympics and part-time workers, you know most of those part timer workers contribute negative tax revenue right? Yep, after tax credits it turns out that we the taxpayer are actually paying alot of people more money to work than we would pay them if they stayed at home.
     
  2. MYstIC G

    MYstIC G Official Licensed Lump of Coal™ Distributor Staff member Moderator FH Subscriber

    When you run up a £2,000 credit card bill cHodAX, how do you pay it off? Borrow £2,500 from somewhere else?

    This doesn't and won't work. This country needs to grow up and grit it's teeth and put up with the shit times and come out the other side.

    As for paying people to stay at home, fuck that, pay them nothing and de-regulate cash work.
     
  3. - English -

    - English - Resident Freddy

    Well the markets are influenced by the actions of the government, our government to be precise.

    I believe were actually in a worse case than greece before and were about to be downgraded.

    Most of the figures were fulltime for employment, and tbh labour meddled with the figures for 13 years. People who were unemployed under labour were put on pointless courses and then removed off the unemployment registers so they were no longer classed as unemployed
     
  4. cHodAX

    cHodAX I am a FH squatter

    Gah, do you people EVER read the stuff I post? Seriously, I have said all along that we need to make serious inroads into the debt but the best way to do it is stimulate the economy therefore increasing tax revenue, then make the needed cuts as and when the economy can sustain the hit without harming the growth we now need to clear the debts.

    Yes we all need to make some hard choices, I could not agree more. The problem is that I don't believe we are going the right way about it, infact I think the current mistakes are only prolonging the hardship by making people terrified for their jobs and homes, when that happens people stop spending and when people stop spending we all get fucked.
     
  5. cHodAX

    cHodAX I am a FH squatter

    Utter nonsense, I am sorry if that insults you as you are a good guy but honestly mate that is rubbish.

    The markets have much more control of interest rates at the moment, the BoE reacts to market conditions and not political desires.

    Greece, you are completely wrong. Their debt levels compared to GDP was insane, so much so that they should never have been allowed to join a bingo hall nevermind the Euro-zone. Our debt moutain is massive but we haven't defaulted or close because the markets see our debt as sustainable in the medium term if not desirable.

    Again you go back to Labour, we are talking about 2012 and what we can do to put things right now. Put aside party political preferences, look at the numbers and the direction they are headed. The unemployment figures are being fiddled by constant adjustments to the benefits system, the tax credit system and the vast army of part-time workers...

    We added 71,000 part time workers in the last quarter, that is where the spike has come from and intitally it looks like a positive right? Then you add in the negative tax contribution of part time workers claiming working/child tax credits/housing/council tax benefits and suddenly we are massively in the hole, in many cases worse off infact than if they were unemployed. Especially those part time workers with kids who get so many different forms of credit/benefit it isn't funny.

    We have a total of 8 MILLION, YES 8 MILLION part time workers in the U.K. and more than half of those are claiming tax credits plus other benefits. The state is paying people to work because it looks better on the quarterly numbers but whatever you do don't look too closely at the balance sheet because the tax liability to the taxpayer is monumental.
     
  6. Nate

    Nate FH is my second home

    We could always change our currency to a new one and not recognise the pound as one. This would fuck everyone who we owe money off big time, but we got a massive military budget right?! Let them come!
     
  7. cHodAX

    cHodAX I am a FH squatter

    Nah we cut the budget to fuck but we do have some nukes, sadly the Yanks kept the launchcodes! :D
     
  8. cHodAX

    cHodAX I am a FH squatter

    Just found the numbers, tax credits cost us £29 billion a year, that is 25% of the overall benefit spend including the state pension. Add in the housing benefit and child care entitlements, it is probably closer to £35 billion a year.
     
  9. ECA

    ECA I am a FH squatter

    I agree we should cut VAT, but I'm also pissed we didn't close the bajillionaire charity tax loophole.
     

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