Do you want to discuss boring politics? (24 Viewers)
- Thread starter mrtrench
- Start date
I too was shocked that the government would try to take credit for economic growth - pure insanity
Grendel
Well-Known Member
Grendel
Well-Known Member
It seems they will in reality increase forms of taxation though
Spending review assumes that all councils will hike taxes by 5%, warns IFS
Paul Johnson now warns the chancellor's spending review has a "sting in the tail" - which is that it relies on all English councils raising tax by 5% every year.This would lead to bills rising at their "fastest rate over any parliament since 2001-05", he says.
The IFS director explains: "Local government in England did perhaps a little better than it might have expected – it has so often been at the back of the queue.
"Its core 'spending power' is set to rise by 2.6% a year from next year. There is a sting in the tail though. This assumes that council tax bills will rise by 5% a year.
"Indeed, if English councils do choose 5% increases – and most are likely to – bills look set to rise at their fastest rate over any parliament since 2001-05.
"That might not be so bad if it weren’t for the fact that those bills are based on property values in 1991, and that the system is regressive."
Lol yes I’m sure the resignation letter will be on Starmer’s desk by this afternoon
Grendel
Well-Known Member
rob9872
Well-Known Member
My Economics background is a fantastic C grade A Level from 35 years ago. That still probably trumps most and my knowledge level is the square root of fek all.
We're very lucky to have such revered Economists posting on this board, especially those who are experts on almost all aspects of politics and post in such a condescending manner to anyone who disagrees.
We're very lucky to have such revered Economists posting on this board, especially those who are experts on almost all aspects of politics and post in such a condescending manner to anyone who disagrees.
shmmeee
Well-Known Member
We’ve had 14 years of your economics and it’s been an unmitigated disaster. Hearing the same myths and nonsense spouted that we heard in 2010 to justify it all grates a little TBH.
rob9872
Well-Known Member
I didn't realise I was in charge, but that's exactly the kind of response I'd expect.
Lots of things weren't great which is why we had a change, but included in that was initially a coalition, then Brexit and then Covid with a worldwide collapse and half the country on furlough. Many mistakes in other areas, but Economically I don't think they could have done much more.
Also had to contend with many on strike or threatening strike (largely because all these lovely socialists wanted more for themselves)
fernandopartridge
Well-Known Member
The government sells bonds to the private sector, it doesn't need to. It is a choice.It's not government spending it's borrowing.
You should find out how banks create money from nothing, biggest scam ever. If you have a mortgage you're paying intrest on that magic money.
Yeah I heard this last night, it's quite underhand really but politically I suppose it makes sense to pass the blame onto Reform led councils
fernandopartridge
Well-Known Member
Paul Johnson is right wing given that his whole schtick is based on government as household
Northants Sky Blue
Well-Known Member
Liz Truss would like a word
fatso
Well-Known Member
100% agree.It's not government spending it's borrowing.
You should find out how banks create money from nothing, biggest scam ever. If you have a mortgage you're paying intrest on that magic money.
Between fractional reserve banking and quantative easing the whole global financial system is a corrupt scam designed to keep the bankers in control.
The banks lend money they don't have and charge interest on that non existant money that keeps the working class in jobs they don't like for their entire lives, if you default on that loan they seize your home which they then sell for money that does exist ???
It's totally fucked up. If you do keep up with the payments you are using real money to repay non existent money, while at the same time paying tax to the government for the privilege of working to pay your bank "debt" (which the bank never even had)
If you work 5 days a week and pay 40% tax, then you are working for the tax man 2 days a week, BEFORE you even start paying interest on the non existant money that the bank "loaned" to you.
How fucked up is that?
Countries that over spend or over comit can borrow on the international markets (money that doesn't exist) until the repayments become unaffordable, then they can just print more of their own currency, until that currency becomes de-valued and inflation cripples their economy.
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fatso
Well-Known Member
In the real world money is created every day through government spending, that is a fact. Here is some research into how it all works
Modern Monetary Theory - a brief introduction - The Gower Initiative for Modern Money Studies
Living within your means is a good rule for households, but a government with its own currency and its own central bank is not at all like a household.gimms.org.uk
I'll give you your due, consistently clueless whether on or off topic
Reeves refuses to rule out tax rises after economy shrinks
The chancellor highlights "uncertainty" in the world as economists warn of tax rises if the economy fails to grow.
www.bbc.co.uk
Proof your talking your usual bollocks.
New government spending commitments are almost always followed by increases in taxes or borrowing.
Your living in cuckoo land if you believe differently.
Your post has one thing right, any government that has its own currency and central bank can print its own money, (that's called quantative easing) the reason it isnt done routinely is that it de-values that currency and leads to rampant inflation.
The article you linked to conveniently chose to ignore the pitfalls of their theory!
If you don't understand that then at least ask yourself why it hasn't been done previously to wipe out our national debt?
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fernandopartridge
Well-Known Member
Your comprehension is just abysmalReeves refuses to rule out tax rises after economy shrinks
The chancellor highlights "uncertainty" in the world as economists warn of tax rises if the economy fails to grow.
Proof your talking your usual bollocks.
New government spending commitments are almost always followed by increases in taxes or borrowing.
Your living in cuckoo land if you believe differently.
Your post has one thing right, any government that has its own currency and central bank can print its own money, (that's called quantative easing) the reason it isnt done routinely is that it de-values that currency and leads to rampant inflation.
The article you linked to conveniently chose to ignore the pitfalls of their theory!
If you don't understand that then at least ask yourself why it hasn't been done previously to wipe out our national debt?
That’s not what quantitative easing is, and if you’re going to get so riled up by it, I would at least recommend learning how to spell it first.
fatso
Well-Known Member
Yea ok mate,
Attachments
Sky_Blue_Dreamer
Well-Known Member
You get so close to working it out, then fuck it at the last minute by blaming it on having to work two days for the tax man before you start earning.
you identify bankers as a big part of the problem. And do you know whose version of economics they side with...?
And just for clarity we've used QE twice in the last generation. Once for covid (which is fair enough, even if you can argue about the way it was used) and the other to dig the banks out of self-inflicted, greedy black hole. So as far as I'm concerned if we can laden the country with debt in perpetuity for that we can certainly do it to make ourselves energy secure and build infrastructure.
shmmeee
Well-Known Member
Social media, where what you see isn’t determined by right wing billionai…. Wait never mind.
Wake up sheeple
mmttww
Well-Known Member
Ainnit.
Well I've seen fatso post a convicted paedophile as a source on here before, so that maybe?
I think I'll stick with the 'Legacy Media'.
Captain Dart
Well-Known Member
Sure is easier than thinking so is AI.
shmmeee
Well-Known Member
Sure is easier than thinking so is AI.
Intelligence is application of knowledge, garbage in garbage out.
shmmeee
Well-Known Member
High court dismisses challenges against adding VAT to UK private school fees
Surcharge was a Labour party manifesto commitment at the 2024 general election
skybluetony176
Well-Known Member
Finally. A Brexit benefit.
High court dismisses challenges against adding VAT to UK private school fees
Surcharge was a Labour party manifesto commitment at the 2024 general electionwww.theguardian.com
chiefdave
Well-Known Member
Its hard not to feel sorry for these unfortunate people
High court dismisses challenges against adding VAT to UK private school fees
Surcharge was a Labour party manifesto commitment at the 2024 general election
shmmeee
Well-Known Member
Surely the telegraph has been taken over and being run as a parody ?!