Government spending £120 Million a day on...............

[theone]

Government spending £120 Million a day on...............

What do you think?

In this time of disputed spending cuts, with high oil prices and high taxes, what do you think they're spending £120,000,000 a day on?

Answers on a postcard..........

[mi16]

drugs and hookers?

[bekisman]

I don't know, I'll take a wild guess, was £120 million a day on the interest on our debt?

[theone]

I don't know, I'll take a wild guess, was £120 million a day on the interest on our debt?

Got it in one.

Were you watching Question time too?

An absolutely shocking statistic in my opinion.

How, seriously, can a government deal with that, whilst at the same time trying to win the popular "X-factor style " public 4 year vote of confidence?

[Aaldtimer]

Well all the candidates seem to to be awfy willing to get their noses in the trough!:confused

[DeHaviLand]

Government spending £120 Million a day on...............

What do you think?

In this time of disputed spending cuts, with high oil prices and high taxes, what do you think they're spending £120,000,000 a day on?

Answers on a postcard..........

So, what do you suggest? Stop servicing our debt? This Government didnt create this mess, that pleasure was solely down to the previous incumbents, who were well aware of the hardships that would follow their fiscal mis-management. We are all paying a hefty price for Labour lies and incompetence.

[theone]

So, what do you suggest? Stop servicing our debt? This Government didnt create this mess, that pleasure was solely down to the previous incumbents, who were well aware of the hardships that would follow their fiscal mis-management. We are all paying a hefty price for Labour lies and incompetence.

Not at all, the debt has to be serviced. I'm not suggesting otherwise.

I just think it's a real eye opener.

[weezer 316]

Maybe the lunatics who were saying there was no need for cuts and tax rises on other threads in this forum will listen now....



Infact they probably wont

[Gronnuck]

Maybe the lunatics who were saying there was no need for cuts and tax rises on other threads in this forum will listen now....



Infact they probably wont

There might well be a need for cuts to services and increased taxes but there is a proporton of the population who have nothing; they have few services and nothing left to tax. What do you suggest, euthanasia?

Perhaps if the MOD were to employ a few pensioners to buy in the light bulbs they need they might save a few pounds,:lol:.

[rob murray]

So, what do you suggest? Stop servicing our debt? This Government didnt create this mess, that pleasure was solely down to the previous incumbents, who were well aware of the hardships that would follow their fiscal mis-management. We are all paying a hefty price for Labour lies and incompetence.



Really, I suppose the fact that Labour had to intervene in the banking crisis by injecting and lending astronomical amounts of money to banks or face a total banking wipe out, has nothing to do with it eh ? Also no matter who was in power they would have had to do the same :

How to get interest payments down....

1 An agreed re payment schedule from banks...made public and updated regulary..we need to know when the debt comes down and how much banks have re paid : Do you know what they actually have re paid ??
2 Pull out of Afganistan
3 Changes in tax laws, the mega rich / people with off shore banking arrangements / legal tax avoidance, go after and stop the leakage
4 Run higher inflation for 5 years and in real terms the debt comes down

Do not be conned, or indeed con your self into thinking that the debt comes from political mis management, we re all in it together etc etc Do not fall for the austerity measures "the need for cuts, therefore cut public sector blah blah blah

Oh in 1945 the UK was effectively bust, holding enormous war related debts, in 1939 the UK economy had barely got out of a long term recession, we still fought a war ( on borrowed money ) hence huge debts, so how come the Welfare State was created, masses of new homes built etc if we were broke and coouldnt borrow any more....

[DeHaviLand]

Really, I suppose the fact that Labour had to intervene in the banking crisis by injecting and lending astronomical amounts of money to banks or face a total banking wipe out, has nothing to do with it eh ? Also no matter who was in power they would have had to do the same :

How to get interest payments down....

1 An agreed re payment schedule from banks...made public and updated regulary..we need to know when the debt comes down and how much banks have re paid : Do you know what they actually have re paid ??
2 Pull out of Afganistan
3 Changes in tax laws, the mega rich / people with off shore banking arrangements / legal tax avoidance, go after and stop the leakage
4 Run higher inflation for 5 years and in real terms the debt comes down

Do not be conned, or indeed con your self into thinking that the debt comes from political mis management, we re all in it together etc etc Do not fall for the austerity measures "the need for cuts, therefore cut public sector blah blah blah

Oh in 1945 the UK was effectively bust, holding enormous war related debts, in 1939 the UK economy had barely got out of a long term recession, we still fought a war ( on borrowed money ) hence huge debts, so how come the Welfare State was created, masses of new homes built etc if we were broke and coouldnt borrow any more....

The banking crisis can be laid largely at the door of Labour and Gordon Brown. It was Gordon Brown who changed the laws that allowed banks to lend money they didnt have. For way too long we've been running on interest payments for loans that only existed on paper. Broonie changed the law so that banks only had to have 10% of the money they were lending. The remainder was a sum that only nominally existed. Banking de-regulation was the catalyst for the banks downfall.

[rob murray]

The banking crisis can be laid largely at the door of Labour and Gordon Brown. It was Gordon Brown who changed the laws that allowed banks to lend money they didnt have. For way too long we've been running on interest payments for loans that only existed on paper. Broonie changed the law so that banks only had to have 10% of the money they were lending. The remainder was a sum that only nominally existed. Banking de-regulation was the catalyst for the banks downfall.

Yep and Santa lives in the North Pole !

[Kells]

Maybe the lunatics who were saying there was no need for cuts and tax rises on other threads in this forum will listen now....



Infact they probably wont


I found the lunatic you are talking about, and I do agree with you that they probably wont.
Now tell me why someone who is rich and works hard, and already pays 50% of their income in tax (ridiculous) should have to pay more?


OOOOps I think that might just be you.

[bekisman]

Got it in one.

Were you watching Question time too?

An absolutely shocking statistic in my opinion.

How, seriously, can a government deal with that, whilst at the same time trying to win the popular "X-factor style " public 4 year vote of confidence?

Yep - was watching Question time too!

[Tom Cornwall]

the same Mantra gets dragged out every time a coallition person opens their mouth...Labour had nothing to do with the recession in USA, Portugal, Greece, Ireland or anywhere else...it was a GLOBAL recession brought about by mismanagement of the banking system..so let the bankers own up so that David Cameron and his cronies can stop repeating the rubbish we're getting tired of hearing

[DeHaviLand]

the same Mantra gets dragged out every time a coallition person opens their mouth...Labour had nothing to do with the recession in USA, Portugal, Greece, Ireland or anywhere else...it was a GLOBAL recession brought about by mismanagement of the banking system..so let the bankers own up so that David Cameron and his cronies can stop repeating the rubbish we're getting tired of hearing

Absolutely, but this mismanagement couldn't have happened until deregulation of the banking system in this country. This was done at the request of the banks so that they could be more competitive globally. Oh aye, that worked eh?

[sandyr1]

Maybe the lunatics who were saying there was no need for cuts and tax rises on other threads in this forum will listen now....

Infact they probably wont

Yes........Just saw another warning this am on the UK Debt. Mervyn King has come out with 'Imbalances'.
Whatver happened to that Famous saying...What can you do for your Country? We did it approx 20 years ago

And ohhhhhhhhhhh didn't someone vote all of the Gov'ts in? The Majority!

[oldmarine]

Government spending £120 Million a day on...............

What do you think?

In this time of disputed spending cuts, with high oil prices and high taxes, what do you think they're spending £120,000,000 a day on?

Answers on a postcard..........

That does look bad, but not as bad as the national debt continuously growing in the USA.

[bekisman]

Well the U.S. began the 2010 Fiscal Year $11,776,112,848,656,17 in debt :eek:

[peter macdonald]

Yes there was a Global problem However the UK suffered particularly badly due to New Labours inept handling of the economy around 2005...
The New Labour apologists should note that in 2005 Tony Blair warned Gordon Brown to either rein in spending or increase stealth taxes such as VAT as he could see the deficit was getting out of control..
Evidence for my statement....
Tony Blairs book "A Journey" around page 267 (if my memory serves me correctly) and interviews such as this
http://bdaily.info/news/01-09-2010/blairs-warning-over-national-deficit/
http://www.bbc.co.uk/news/business-11153166

PM

[sandyr1]

[QUOTE=peter macdonald;827259]Yes there was a Global problem However the UK suffered particularly badly due to New Labours inept handling of the economy around 2005...
The New Labour apologists should note that in 2005 Tony Blair warned Gordon Brown to either rein in spending or increase stealth taxes such as VAT as he could see the deficit was getting out of control..
Evidence for my statement....
Tony Blairs book "A Journey" around page 267 (if my memory serves me correctly) and interviews such as this
url]http://bdaily.info/news/01-09-2010/blairs-warning-over-national-deficit/[/url]
http://www.bbc.co.uk/news/business-11153166

Could not part of this problem be 'all' Govt's/ for the past 30 + years. Allowing people to borrow money they could never pay back.
And people themselves just wanting more/ As is said 'It takes two to Tango'.

[rob murray]

The banking crisis can be laid largely at the door of Labour and Gordon Brown. It was Gordon Brown who changed the laws that allowed banks to lend money they didnt have. For way too long we've been running on interest payments for loans that only existed on paper. Broonie changed the law so that banks only had to have 10% of the money they were lending. The remainder was a sum that only nominally existed. Banking de-regulation was the catalyst for the banks downfall.

banking de reg was consensual ie supported by tories...the crisis is accepted to have been caused by banks selling off debt bundles / derivatives which as it turned out were less than worthless, hence causing an inter bank liquidity problem solved by drastic government intervention.

[peter macdonald]

The table below shows the tax and debt burden of the UK in relation to GDP As you can see it has greatly increased over the last 5 years....

Year Tax Debt
1975/6 54% 43%
1985/6 44% 43%
1995/6 43% 38%
2005/6* 46% 40%
2009/10 57% 68%

(Source: HM Treasury Public Finances Databank)
(* — Projected)

As for the global crisis some countries such as Sweden and Australia are looking at ways to take the steam OUT of their economies as their relative strength in the currency markets is causing problems to the export portion of their economies !!
I dont think history will be kind to the third term of the New Labour government!
http://www.economywatch.com/world_economy/australia/

[sandyr1]

As for the global crisis some countries such as Sweden and Australia are looking at ways to take the steam OUT of their economies as their relative strength in the currency markets is causing problems to the export portion of their economies !!
I dont think history will be kind to the third term of the New Labour government!
http://www.economywatch.com/world_economy/australia/[/QUOTE]

We are also in some trouble in Canada. Our $ is now $1.03 against the US. Used to be 85cents. Very bad for our exports.