Graham Barlow - Economic lunacy
12:25 | 20 Aug 2009
It is beyond my comprehension that this Government could not forecast the obvious massive deficits in in taxation receipts. Last February it took about 19 mins. on the back of an envelope to calculate the drop. It was patently obvious then that Government expenditure would have to be seriously curtailed to maintain some semblance of order to the public account. This they have failed to do and are therefdore guilty of economic treason in my opinion. Are we really having to wait until we have got rid of this lot before prudence and not profligacy is restored to Britains accounts? Printing money will only devalue the currency further. The only way out is to really incentivise the private sector of business(wealth creators) and cut the millions employed by the Government doing very little. Its called Thatcherism. Make it worthwhile to go to work.
Prudence - Back to the drawing board for Darling - AGAIN
12:28 | 20 Aug 2009
Alistair Darlings estimate figures of net borrowing and GDP growth were grossly incorrect. We know that the IMF have already readjusted Darlings optimistic growth forecast down which, in simple terms means bigger deficits to fund. When they say our children will be paying off our debts, they won't be to far wrong. But Labour continue to bury their heads in the sand are are hoping for a miraculous world recovery to bring the deficit under control.
Gaz
12:28 | 20 Aug 2009
Wow, the UK is so shafted! I certainly wouldn't want to live there!
Oh, hang on...
Damn.
John Kenyon - Sorting the Finances
12:37 | 20 Aug 2009
Why are the comments so often more on the ball than the journalist's article??!
Why does the Govt have to wait before starting the cut back? UK Corp isnt that different from any other business/family is it?
Trufflehuneter
13:33 | 20 Aug 2009
John Kenyon
We are lions led by donkeys, and misled by the blinkered unbalanced media!
F - Economic Lunacy
14:01 | 20 Aug 2009
It's not the 'Government' which forecasts growth, tax receipts and debt.
It's the Treasury, and they use the best available data and statistical tools.
If our friend can do it 'on the back of an envelope', he's either a liar or a madman or possibly both.
Certainly the Government accepts the responsibility but they don't calculate the figures.
the only taxpayer left in the uk - perhaps it is time
14:14 | 20 Aug 2009
1) with some companies having intricate multinational tendrils where we can pick up their losses and costs but not theiir profits
2) where tax losses of huge proportions can be claimed back and loosses set against many years trading
3) where prices can be manipulated, supplies withhold and shortages heightened
4) Where massive bonuses can still be justified because the market warrants it and they are said to be worthwhile
5) where people threaten to go abroad or take their taxes and companies or money with them
6) where huge companies and individuals spend fortunes to avoid, to lessen and almost remove their tax obligations so they pay almost nothing.
Is the uk geting a fair deal?
perhaps it is now time to let the whole crumbling establishment crash down rather than support ailing banks with public money, to allow motor car makers to go to the wall rather than continue the 1950's lie that we can all have one. killing our planet.
we have only one planet to leave our children. our only rule is that we should leave it better than we found it, and so that we are better rather than richer
What point is their in living in golden ghettos while every one outside is in penury, expoited and lvining in pollution.
What is the point of prolonging the next bubble and feeding the froth- we need something of substance.
this is only one symptom, it does not cure the cause - let a lone recognise the true issues, effects or what is to come.
Alby - Back to Thatcherism ? Thats why we're in such a mess now!
15:30 | 20 Aug 2009
If Margaret Thatcher had'nt been so blinkered and belligerent then all economic sectors, other than banking and associated services, would not have been decimated and we would not have been in such an exposed position now. True, this current lot are'nt great at all, but the ideological blinkered rot to the economy set in under Thatcher (and Scargill), unfortunately the prejudices which some of us have, have damaged us all .
s taylor - balancing the books
15:49 | 20 Aug 2009
Many posters suggest that the Government drastically reduce their spending now, in order to cut the deficit. But what effect would that have on the economy and jobs? Surely the recession would be deeper and longer!
What they should have done is during the good times put more away for a rainy day.
Trufflehunter
15:52 | 20 Aug 2009
This country has to make up it's mind. Encourage enterprise by lowering the taxes on success or suffer a nasty decline in wealth as those that are economically-active and hard working decide to go to places where they are welcome.
Dave - The elephant in the room?
17:29 | 20 Aug 2009
I am informed that NI pays in full for the National Health Service and pensions, with an annual surplus.
I am also informed that the cost of Social Services now costs more than all the receipts obtained from income tax.
I am also informed that Government Departments 'borrow' from the NI surplus each year in order to fund their needs, which I imagine includes Social Services and 'benefits'.
I wonder where we might be able to make enormous savings; perhaps in a government department where it is suggested that fraud is rife and gaining benefits is a 'soft touch'?.
Mr Angry
17:33 | 20 Aug 2009
We need to break the downward spiral and there is only one way.
Massive cut in public spending, use the money to cut corporate and personal taxes to promote growth and employment.
Before any socialists out there start screaming, at least £100 billion could be cut without losing one single, nurse, doctor, fireman, real copper (not the plastic kind) or teacher.
At the moment £350 MILLION A DAY is going down the tubes in debt interest making foreign investors rich while the NHS is starved of cash. Maddness but at least the borrowing keeps Gordon's public sector voters in a job while the country slids further down.
roger hazeldine - The brains jumped ship.
19:06 | 20 Aug 2009
Some time ago i gave my best efforts to build a very successfull company, 58 people all eating well all driving new cars , for what ,pea nuts,
I sold it to the managers who bought new BMW,S ( BIG MOTORS for WANGERS ) and destroyed it, i know live in Thailand with many other once very successful people from these shores who have all pissed off.
Whats left ; dross from the EC who raid our NHS and dole queues , If you are young and reading this do yourself a favour sell up and move on .England is a dying nation.
Great Britain, That's joke city if i ever heard a good joke,Rome burt from the centre not it's out flung empirers
TM - Government Debt
19:15 | 20 Aug 2009
Spend tax and borrow has been the hallmark of this Labour Government. Labour ALWAYS leave the country worse off after being in power. Will they never learn?
Anthony O' Grady
22:22 | 20 Aug 2009
To Graham Barlow
Are these the same incentivised wealth creators (rhymes with w****rs) who almost destroyed us all.
richard mumford - last ditch stand
07:54 | 21 Aug 2009
there is an election coming and the winner picks up the chalice.
it is almost certain that labour will lose, so they can afford to make sure that the cup contains poison
Richard Hardy
13:16 | 26 Aug 2009
As Margaret Thatcher once said "under socialism you eventually run out of other peoples money".
QED
Richard Hardy - To Alby
13:21 | 26 Aug 2009
Margaret Thatcher's Government took over from - oh yes - a profligate Labour Government who had too large a public sector, borrowed money left right and centre and taxed the wealth and job creators of this country to the point where the brains of Britain were forced abroad.
Thatcher left power in 1991, Tony B Liar and "Old Labour" came back to power in 1997. 12 years to turn the country back to 1978.
That's Thatcherism for you.