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Britain fires with both barrels - emergency rate cut and budget boost

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9 hours ago, sandrabbit said:

And what did labour do under Blair, get their great grandchildren to still pay for what they did ............

Exactly, PFI was the biggest "spend now pay later" scam in history. The main reason why the NHS is on it's knees now.

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1 hour ago, martin3 said:

At least we don,t have to live with the rules they make anymore,It may take a long time and maybe its going to hurt for a long time,But I'm sure you wouldn't want other countries making laws and rules for you?

A lot of men and women and children died to be free in both world wars.....EU maybe good for the smaller countries,But I'm glad we are out! 

 

The UK is not free or independent. 

 

UK fishermen are already pleading with their government to ensure tariff free access to EU markets.

 

Who do you think pays for UK pensions? Do you seriously think UK tax is sufficient to pay UK pensions? Every year the UK has to go cap in hand to the capital markets and beg Japan, the US and Germany to give the UK money to pay its pensioners.

 

You think the UK is free and independent? Eighty percent of your economy is services. Given the size of your debt  you're basically indentured servants.

 

And along comes a Brexit government with election bribes in the Greek style saying 'please please re-elect us, here have the family silver, have it all'....ramping up the already massively indebted UK's debt by another 125 billion"£ and telling future generations of Britons 'You and your children can pay the bill for how we live now'.

 

 

 

 

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29 minutes ago, Logosone said:

 

The UK is not free or independent. 

 

UK fishermen are already pleading with their government to ensure tariff free access to EU markets.

 

Who do you think pays for UK pensions? Do you seriously think UK tax is sufficient to pay UK pensions? Every year the UK has to go cap in hand to the capital markets and beg Japan, the US and Germany to give the UK money to pay its pensioners.

 

You think the UK is free and independent? Eighty percent of your economy is services. Given the size of your debt  you're basically indentured servants.

 

And along comes a Brexit government with election bribes in the Greek style saying 'please please re-elect us, here have the family silver, have it all'....ramping up the already massively indebted UK's debt by another 125 billion"£ and telling future generations of Britons 'You and your children can pay the bill for how we live now'.

 

 

 

 

you keep stating Who do you think pays for UK pensions? Do you seriously think UK tax is sufficient to pay UK pensions? Every year the UK has to go cap in hand to the capital markets and beg Japan, the US and Germany to give the UK money to pay its pensioners.

And you never provide a link to support your claim

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Posted (edited)
59 minutes ago, vinny41 said:

you keep stating Who do you think pays for UK pensions? Do you seriously think UK tax is sufficient to pay UK pensions? Every year the UK has to go cap in hand to the capital markets and beg Japan, the US and Germany to give the UK money to pay its pensioners.

And you never provide a link to support your claim

"At the end of 2015, total accrued-to-date gross pension liabilities of UK pension providers in respect of employment-related (workplace) pensions and State Pensions were estimated at £7.6 trillion, up from £6.6 trillion at the end of 2010 (not adjusted for inflation). 

 

The 2015 total included £5.3 trillion of pension entitlements (279% of gross domestic product (GDP)) that were the responsibility of central and local government)"

 

https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/articles/pensionsinthenationalaccountsafullerpictureoftheuksfundedandunfundedpensionobligations/2010to2015

 

How to you propose, vinny, to pay £5.3 trillion of pension entitlements, being 279% of GDP of the UK?

 

By way of framework, national insurance receipts are 136 billion pounds each year.

 

A UK trillion, and bear in mind the pension entitlements in the UK in 2015 were 5.3 trillion GBP, means 1,000,000,000,000,000,000

 

A UK billions is 1,000,000,000,000.

 

Okay, now you should be well on your way to understand why UK debt amounted to £1.78 trillion, or 86.58% of total GDP, with the annual cost of servicing (paying the interest) the public debt amounted to around £48 billion.

 

https://en.wikipedia.org/wiki/United_Kingdom_national_debt

 

So when the UK issues UK government bonds what it is doing is financing the UK pension system, among other social handouts the UK electorate has gotten used to.

 

The ironic thing is that the UK government used to issue bonds to finance wars. Now it issues them to finance its own old age pensioners. So you could argue the UK is now at war with itself.

Edited by Logosone
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15 hours ago, evadgib said:

This Corona lark will be gone by June & 🇬🇧 thankfully will continue as planned.

Can you enlighten us all as to what the plan actually is?

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6 minutes ago, Rookiescot said:

Can you enlighten us all as to what the plan actually is?

Didn’t you see his answer! He said there would be a budget in October...

 

Theres the plan. Kicking the can down the road! 

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Posted (edited)
2 hours ago, Logosone said:

 

The UK is not free or independent

 

UK fishermen are already pleading with their government to ensure tariff free access to EU markets.

 

Who do you think pays for UK pensions? Do you seriously think UK tax is sufficient to pay UK pensions? Every year the UK has to go cap in hand to the capital markets and beg Japan, the US and Germany to give the UK money to pay its pensioners.

 

You think the UK is free and independent? Eighty percent of your economy is services. Given the size of your debt  you're basically indentured servants.

 

And along comes a Brexit government with election bribes in the Greek style saying 'please please re-elect us, here have the family silver, have it all'....ramping up the already massively indebted UK's debt by another 125 billion"£ and telling future generations of Britons 'You and your children can pay the bill for how we live now'.

- yet!

- Surely that's "we/our"?

- It worked, &

🇬🇧 taxpayers were still paying for WW2 until Dec 2006 🙄

HTH 

 

Edited by evadgib

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Posted (edited)
18 hours ago, Logosone said:

Excellent work by Mark Carney and superb presentation.

 

But cheaper lending alone will not revive the English patient.

 

The UK has the largest oil sector in the EU, which employs 300,000 people and accounts for some 20% of corporation tax.

 

With oil prices low in the long term the UK economy will take hit here.

 

Due to Brexit 1.7 trillion GBP have left the City already, more will follow. With passporting and equivalence in doubt and at the mercy of EU regulators and courts many UK services providers will face a tough time.

 

Foreign investment in the UK has fallen dramatically since Brexit was voted for.

 

Big name firms from Honda to Siemens to JP Morgan have made clear they will set up elsewhere.

 

Even without coronavirus the UK was in dire shape, now, with the oil crisis the UK is in a worse position still. Very tough times ahead for the British,

 

 

Meanwhile the USA, Australia, and the EU are absolutely booming with no problems whatsoever!

 

 

Edited by Baerboxer
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Posted (edited)
4 hours ago, englishoak said:

Budget gets a thumbs up from me, very ambitious and positive, thats what was needed. :thumbsup:

 

If taking on 125 billion GBP extra debt and letting the children of the UK, and their children, and their children's children pay for the way the British adults live now is positive then this budget was massively positive.

 

Worked really well for Greece.

 

To live above your means is undisciplined, thoughtless, irresponsible, and frankly selfish. Future UK generations will have to pay for this Brexit government's budget of handouts and re-election bribes.

 

Of course there is nothing positive about this budget, which by its own admission is a budget to deal with crisis. What is the British response to crisis? Borrow more and more and more and more.

 

Man are you guys headed for a face down fall in the mud. The bill always comes.

 

Just ask Greece what happened when foreign creditors refused to pay after Greece maxed out its credit card. 

Edited by Logosone
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14 hours ago, samran said:

Sing it with me lads:

 

’it’s gold, it’s round, one dollar to the pound, Engerland, Engerland...’

Meanwhile you Bogans can only dream of your Aussie dollar reaching parity with the USD 😆

 

image.png.a82e799ade80baf222acb60194cfa8e3.png

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