Quote:
Originally Posted by Pierre
Got it.
Tax cuts cost = £37bn end of the world as we know it
Furlough = £70bn no sweat.
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Tax cuts are a permanent cut to your income. Furlough was added to the debt. If the markets think you can meet your debt obligations they don't see it as a risk. If they think it is a risk then they want higher interest in return for lending to you.
The bank had no problem giving me a mortgage but if I decided to cut my income and replace the lost money by using a credit card then I would be seen as a risker proposition.
The Government gave the market's confidence they knew what they were doing with the furlough costs and now the Government isn't giving such confidence.
It's not as if I am making this up. You can see it in the markets.
Why did you bother starting this line of conservation if you're just going to be dishonest and sarcastic about it?