More cuts from failing Osborne - Page 14

Stuart · 15-03-2016, 21:19

As I understand , PFI is fine (in theory). Note, I said "in theory"...

The problem is (according the past Private Eye print editions) that the Government often uses lax controls on the scheme, and the Treasury agreed to pay incredibly high interest rates on a lot of the schemes.

Mr K · 15-03-2016, 21:27

George has never been very good at spending money to stimulate growth. Think it goes against the grain (bet he make the Mrs. shop at Aldi's too). However cutting to kill any recovery off he's expert at.

Stop It · 15-03-2016, 22:10

Quote:

Originally Posted by heero_yuy

According to R4 this morning El Gov will borrow some at very low interest rates in order to lever money from pension funds. At the moment these funds are finding good returns on their normal investments hard to find and are increasingly turning to infrastructure projects where returns are better than the stock markets or bonds.

Let's hope this isn't another PFI scheme that will cost us dear in the next decade or two.

This borrowing does not add to the structural deficit that has to be reduced by cuts or more taxes.

This wont affect Osborne but a successor in the future. As per: https://www.gov.uk/government/upload...rt_2014-15.pdf

Quote:

Originally Posted by HM Treasury

Over the same period the average modified duration of the stock of conventional gilts is projected to fall from 9.2 years to 8.9 years.

While of course a simplification, it means that the average bond sold to investors will mature in 8.9 years. So, given the fact these bonds will likely be sold again, the trick is to hope we have an improved economy that can pay higher interest rates, or that the rates we pay stay at these low levels.

As the yield on 10yr bonds is currently around 1.5% (see here: http://www.bloomberg.com/markets/rat...nment-bonds/uk ), it pays for the govenment to borrow at this time as they actually pay less than the current rate economic growth less inflation in the country at present. Again, a gross oversimplication and I can already hear economists wanting to kill me, but basically if you sell a bond at 2%, and grow an economy (And thus, tax returns etc) by 3%, you win.

So while the UK still has a pretty large (5% wasn't it at the last count?) defecit, it isn't as bad as it could be, although not ideal. Frankly cutting spending isn't the only weapon in the arsenal though, some taxes need to be raised. It wont happen, because that'll go down faster than a lead balloon on Venus but we have actually see massive tax giveaways due to the consistent raising of tax thresholds and the impact of the living wage cannot come soon enough for the treasury.

Until then? I wonder if Osborne is brave enough to chuck a bit on fuel duty. Petrol prices while not exactly cheap, are lower adjusted for inflation for over 5 years so maybe, just maybe he could get a billion or two by a hike. If I was him, I'd put a "brake" on it though, that would cancel the rise if prices (And thus VAT receipts) go high enough to recoup the currently lost revenues.

Mr K · 16-03-2016, 21:15

http://www.independent.co.uk/news/uk...-a6934531.html

Well there's a surprise, George takes from the disabled to give to the rich. It is true that those on >£43k, have had a tough time of it lately, so fair enough to cut their tax I guess. The reason there isn't more of an uproar because nobody expects any different from him/the Tories any longer. This country is going the way of the USA, incredibly divided, which is to no ones benefit in the long run.

Future possible world leaders Trump and Osborne

- there i've scared everyone now...

tweedle · 16-03-2016, 21:19

Quote:

Originally Posted by Mr K

http://www.independent.co.uk/news/uk...-a6934531.html

Well there's a surprise, George takes from the disabled to give to the rich. It is true that those on >£43k, have had a tough time of it lately, so fair enough to cut their tax I guess. The reason there isn't more of an uproar because nobody expects any different from him/the Tories any longer. This country is going the way of the USA, incredibly divided, which is to no ones benefit in the long run.

Future possible world leaders Trump and Osborne

- there i've scared everyone now...

America is not divided, but feel free to provide evidence it is, beyond normal political differences . Britain is not divided, but please do provide evidence it is, beyond normal British political differences.

I'm looking forward to you ignoring me an not providing any evidence as you know you're wrong.

Mr K · 16-03-2016, 21:28

Quote:

Originally Posted by tweedle

America is not divided

Have you seen any of Trump's rallies ????

tweedle · 16-03-2016, 21:35

Quote:

Originally Posted by Mr K

Have you seen any of Trump's rallies ????

Did you see the Bush protestors, the Clinton protesters?

Have you seen the anti Corbyn protesters? Have you seen the Labour Party donators stop donating. Would you say that means Britian is divided? I'm sure you don't think a few protesters represent over 100 million Americans do you?

nomadking · 16-03-2016, 21:46

Quote:

Originally Posted by Mr K

http://www.independent.co.uk/news/uk...-a6934531.html

Well there's a surprise, George takes from the disabled to give to the rich. It is true that those on >£43k, have had a tough time of it lately, so fair enough to cut their tax I guess. The reason there isn't more of an uproar because nobody expects any different from him/the Tories any longer. This country is going the way of the USA, incredibly divided, which is to no ones benefit in the long run.

Future possible world leaders Trump and Osborne

- there i've scared everyone now...

On their own or even the 2 together, needing an aid to use the toilet or dress the lower body, doesn't currently qualify for PIP. Even the amendments just reduce the points on just those 2 activities by a single point. You need at least 8 points to qualify.

Mr K · 16-03-2016, 21:52

Quote:

Originally Posted by tweedle

Would you say that means Britian is divided?

Maybe you are genuinely totally oblivious, or just trying to provoke, as has been suggested before. However i'll give you the benefit of the doubt , here's a link to the Fail (hate to - but it's 'reading' matter you may be familiar with)

http://www.dailymail.co.uk/news/arti...-21-cent.html#

And this was before George's latest round of 'wealth redistribution'.

tweedle · 16-03-2016, 21:55

Quote:

Originally Posted by Mr K

Maybe you are genuinely totally oblivious, or just trying to provoke, as has been suggested before. However i'll give you the benefit of the doubt , here's a link to the Fail (hate to - but it's 'reading' matter you may be familiar with)

http://www.dailymail.co.uk/news/arti...-21-cent.html#

And this was before George's latest round of 'wealth redistribution'.

I'm asking for evidence that Britian is divided, I take it you have no evidence? If I disagree with you I can't help that. As the Britian live in, I go out for meals in, go to work in, etc seems like a content healthy place to me. Can you offer evidence to the contrary ?

nomadking · 16-03-2016, 21:57

Quote:

Originally Posted by Mr K

Maybe you are genuinely totally oblivious, or just trying to provoke, as has been suggested before. However i'll give you the benefit of the doubt , here's a link to the Fail (hate to - but it's 'reading' matter you may be familiar with)

http://www.dailymail.co.uk/news/arti...-21-cent.html#

And this was before George's latest round of 'wealth redistribution'.

They haven't had any money given to them. The money others are prepared to pay for what they have has gone up. Doesn't necessarily mean that the others have been given more money. Just that the price they are prepared to pay has gone up.

pip08456 · 16-03-2016, 21:59

Quote:

Originally Posted by tweedle

I'm asking for evidence that Britian is divided, I take it you have no evidence?

Lancashire v Yorkshire, North Wales v South Wales, Scotland V England.

Just 3 examples.

tweedle · 16-03-2016, 22:03

Quote:

Originally Posted by pip08456

Lancashire v Yorkshire, North Wales v South Wales, Scotland V England.

Just 3 examples.

So Britain was divided under left wing labour governments?

nomadking · 16-03-2016, 22:04

Quote:

Originally Posted by tweedle

So Britain was divided under left wing labour governments?

Under and BY.

tweedle · 16-03-2016, 22:05

Quote:

Originally Posted by Mr K

Maybe you are genuinely totally oblivious, or just trying to provoke, as has been suggested before. However i'll give you the benefit of the doubt , here's a link to the Fail (hate to - but it's 'reading' matter you may be familiar with)

http://www.dailymail.co.uk/news/arti...-21-cent.html#

And this was before George's latest round of 'wealth redistribution'.

I'm asking for evidence that Britian is divided, I take it you have no evidence? If I disagree with you I can't help that it is up to you if you see it ask provocation. As the Britian live in, I go out for meals in, go to work in, etc seems like a content healthy place to me. Can you offer evidence to the contrary ?
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