Zen10

400,000 people pushed into the 40p rate, Osborne admits he has missed all his deficit reduction targets, and despite the cuts the government is now borrowing more than ever. Technically, the debt has grown so much it is as if no cuts at all have been made so all those redundancies were for nothing, and the deficit alone is rising at £120 billion per year, or £328,767,123 per day. "Austerity" programme now to last until 2018.

Out of control?

http://www.telegraph.co.uk/news/poli...-tax-rate.html

http://www.guardian.co.uk/uk/2012/de...tumn-statement

Grayling

Oooooh!

Did you have an orgasm over that little lot

Bibbs

It's what you get after uncontrolled overspending in the 'good times'.

Red tie or blue tie, it wouldn't matter who is in charge.

Took 10+ years to make this mess, so i can see it taking longer to fix it.

Zen10

I didn't know such wit was possible.

Zen10

How are they going to fix it though? I think that cutting is not helping right now, but the kind of solution that would help would be too radical to get any support.

Grayling

That's OK

Now you had better find some more doom and gloom to drool over.


Try the Australian news this morning.......that should feed your habit

GarryP

It's an unfortunate reality that most of the voters don't understand than household budget approaches don't work for national economies. Therefore it's easy for right wingers (like Osborne) to use shock doctrine approaches to push through political agendas that have nothing to do with their stated aims (as demonstrated) and are instead focused on 'rolling back the state'.

If 'trickle down economics' is now rightly derided as a fraud, how long will it take people to realise that 'austerity' is similarly a con and that you can never cut your way to greatness?

Bibbs

Why bother fixing it?

Look at Europe, we all know the Euro is dead but they keep kicking the can down the road for someone else to worry about.

It's all about delaying the bad stuff by throwing tax payers money at it.

Unfortunatly, there needs to be a massive cut in government spending. Reign in what's covered by the NHS, reduce the headcount on all government departments, reduce the pensions liability and somehow pay for all the PFI that's off the books.

Also bump up interest rates to shrinking the debt, and allow a housing collapse.

None of these are vote winners.

Zen10

+1.

Zen10

Ah, you're on the level where a negative point about one country must be instantly met by a negative point from the other, like a sort of giant, tedious game of economic pong authored by Stephen Potter.

I'm not.

I posted this because it is a serious downturn in the British economic outlook and British expats around Australia might like to discuss. Any inference that I derive pleasure from it is entirely in your mind and tells us more about you than anyone else.

Grayling

Zen10

You have disrupted this thread on the second post. This thread has nothing to do with Australia, or the ups and downs of its economy. This thread is about the recent downturn in the British economy, and what that means for those amongst us who have cash or assets or loved ones there. If you have nothing sensible to contribute why not just go and mow your lawn?

Grayling

I have cash and assets and loved ones there.....and they have never been better off......I will also be returning there when I retire because I will be far better off.
I don't mow the lawn....I employ a gardener

Zen10

I'm over the moon for you, who like most boomers has it made. Meanwhile, the youth of Britain are being eaten alive with unemployment at 20% - 40% depending in age group.

Grayling

My son has just turned 40.......he is far wealthier than I have ever been.....strange that as he lives and works in the UK.