Richard Posted May 13, 2010 Share Posted May 13, 2010 Not at the start I dont think but it would be unwise to say "The last act was so crap they were still booing him when I had finished my set" Link to comment Share on other sites More sharing options...
ED Posted May 13, 2010 Share Posted May 13, 2010 the facts are labour have got us over 100m in debt it's a bit more than that. we are around £850bn in debt with a deficit of about £159.2bn. 100m is peanuts, thats how much portmouth owe. The amounts we really do owe that have been quoted are mind boggling Link to comment Share on other sites More sharing options...
kidlewis Posted May 13, 2010 Share Posted May 13, 2010 Not at the start I dont think but it would be unwise to say "The last act was so crap they were still booing him when I had finished my set" yes true, but the new DJs have only just setup their decks and are looking through the box to see what tracks are available. when the new DJs have been playing for a couple of years then perhaps we can see if their set is any improvement. Link to comment Share on other sites More sharing options...
Demitri_C Posted May 13, 2010 Share Posted May 13, 2010 its actually frightening how bad this deficit is Link to comment Share on other sites More sharing options...
kidlewis Posted May 13, 2010 Share Posted May 13, 2010 its actually frightening how bad this deficit is oh it's terrible, at the moment I can't even see how we will get out of it. The annual interest on the debt is something like £40bn this year, so perhaps the best thing to do is somehow start paying off what we can and reducing that figure. that alone is more than out entire defence budget. the deficit is around £166bn according to the BBC website (latest figure). remember the interest is about £40bn. so the actual figure we need to get to in order to balance the books is about £126bn? So the tories cut £6bn this year and gain £11.5bn in raising VAT. That in total bring the deficit down to just £108.5bn. **** me it's done nothing hasn't it!!!!! how are we going to claw back £108bn in raising taxes and cutting things? could this be impossible? The only thing I can see to improve things is making the taxes on business a lot less to try and encourage people to come over here from europe and other countries and setup here, employing people and thus reducing unemployment, but even that isn't going to do that much is it. if you were the 1 single ruler of Britain what would you do to try and claw back the £120bn deficit. Link to comment Share on other sites More sharing options...
Condimentalist Posted May 13, 2010 Share Posted May 13, 2010 Not at the start I dont think but it would be unwise to say "The last act was so crap they were still booing him when I had finished my set" yes true, but the new DJs have only just setup their decks and are looking through the box to see what tracks are available. when the new DJs have been playing for a couple of years then perhaps we can see if their set is any improvement. Photoshop opportunity, surely. Link to comment Share on other sites More sharing options...
JulieB Posted May 13, 2010 Share Posted May 13, 2010 its actually frightening how bad this deficit is It is and it will take generations to sort it out totally. Not wishing to be pessimistic but no one seem to have mentioned that RBS moved another £167 BILLION of potentially toxic global debt into the governments "Asset protection scheme" a while ago, which doesn't include the Billions that's already held with the scheme. Whose bankrolling that lot?... You and me that's who.. So what happens if those debt guarantees get called on by any chance? Don't even think about it!!! The Credit Default Bond market absolutely dwarfs the global equities markets and when it all went belly up apparently the drug lords and criminals had to bankroll the world global financial markets post Lehman's collapse to stop it all going into melt down. So what's the point in us all having to go through Money Laundering checks........ I ask myself?!! It's a farce and no UK Lib/Dem coalition will be able to solve this on their own! Link to comment Share on other sites More sharing options...
Risso Posted May 13, 2010 Share Posted May 13, 2010 It's like we're some third world country which has been run by an absolute imbecile for the last decade.... Link to comment Share on other sites More sharing options...
ender4 Posted May 13, 2010 Share Posted May 13, 2010 it will take more than 1 term (5 years) of Conservative-Lib to get the Annual Deficit into a surplus again. 170bn deficit a year is crazy... even if Cons cut 20Bn additionally every year (20+40+60+80) it would be 4 years before we weren't running a deficit. Link to comment Share on other sites More sharing options...
kidlewis Posted May 13, 2010 Share Posted May 13, 2010 it will take more than 1 term (5 years) of Conservative-Lib to get the Annual Deficit into a surplus again. 170bn deficit a year is crazy... even if Cons cut 20Bn additionally every year (20+40+60+80) it would be 4 years before we weren't running a deficit. oh dear reading it like that really does look shit. Link to comment Share on other sites More sharing options...
ender4 Posted May 13, 2010 Share Posted May 13, 2010 well, there are 4 options to reducing the National debt. 1) high inflation, which makes the debt worth less in the future. 2) force the banks to be paying back all the loans asap, that accounts for billions of our debt. 3) Slash spending 4) raise taxes. Link to comment Share on other sites More sharing options...
JulieB Posted May 13, 2010 Share Posted May 13, 2010 It's like we're some third world country which has been run by an absolute imbecile for the last decade.... It wasn't just the UK though because when the US Treasury had to step in after the sub Prime market collapsed, and sure up Freddie Mac and Fanny May the two biggest mortgage lenders in the US.. There were so many billions involved this one act overnight effectively DOUBLED the US National debt!! Meanwhile back in the UK Royal Bank of Scotland had been allowed to grow so big under Sir Fred, that their balance sheet alone almost equalled UK PLC as a whole!! Consequently when RBS went belly up it took nearly the whole country's finances to keep it afloat!! Have we learned anything?.... Well which bank helped US company Kraft fund their buyout of Cadbury's a while ago? None other than RBS ....with YOURS and MY money... Just to make you feel better.. the price of Gold hit an all time high yesterday. Wouldn't it be lovely if UK government could sell our reserves to pay off some of the deficit - Wait a minute!!!... (EDIT ADD ) Link to comment Share on other sites More sharing options...
kidlewis Posted May 13, 2010 Share Posted May 13, 2010 well, there are 4 options to reducing the National debt. 1) high inflation, which makes the debt worth less in the future. 2) force the banks to be paying back all the loans asap, that accounts for billions of our debt. 3) Slash spending 4) raise taxes. I think 2) should be done anyway. If a bank is paying millions in bonus' and also making profit on our bail outs then they should pay a significant portion of their profit back to the taxpayer (if they aren't already) Link to comment Share on other sites More sharing options...
Richard Posted May 13, 2010 Share Posted May 13, 2010 1) runs the very real risk of putting us back into recession 2) yes should be done 3) yes has to be done 4) yes will need to be done as well, but targeted would be my preference Link to comment Share on other sites More sharing options...
kidlewis Posted May 13, 2010 Share Posted May 13, 2010 Julie on that subject cost us £4.7bn on 2009 figures. dread to think what the loss is now if it's at an all time high. Did he sell all of it? an Independent article from a few years ago said between 1999 and 2002 he sold 60%, so where is the other 40%? Link to comment Share on other sites More sharing options...
Clarry Posted May 13, 2010 Share Posted May 13, 2010 My colleagues and I in the public sector (education), would not protest if there was a "cost of living" pay-freeze on certain wage levels over a few years. It would be preferable to cutting sevices, but a drop in the ocean overall. The Unions wouldn't like it. Link to comment Share on other sites More sharing options...
ender4 Posted May 13, 2010 Share Posted May 13, 2010 Apparently, if they froze all benefits & public sector salaries for 5 years it would save £8bill in the first year... and £120bill over the 5 years (8+16+24+32+40). i think the debt is at a stage where something like this needs to be done. Link to comment Share on other sites More sharing options...
OutByEaster? Posted May 13, 2010 Moderator Share Posted May 13, 2010 2) force the banks to be paying back all the loans asap, that accounts for billions of our debt. Isn't that a little dangerous, I'd imagine that most of the banks money is currently in our houses, cars, savings accounts and pensions. Wouldn't they just come an get it off us? What am I missing? Link to comment Share on other sites More sharing options...
JulieB Posted May 13, 2010 Share Posted May 13, 2010 Julie on that subject cost us £4.7bn on 2009 figures. dread to think what the loss is now if it's at an all time high. Did he sell all of it? an Independent article from a few years ago said between 1999 and 2002 he sold 60%, so where is the other 40%? I don't know exactly how much remains.. however I think we have to keep a certain amount back as reserves. But some of this could well have been sold in the interim. There again none of us knew that the Bank of England had made a secret loan of some £13Bn to the banks last year..so I wouldn't hold my breath! As that article mentions Gordon Brown actually made a huge mistake to add to his woes by making it clear BEFORE he sold the Gold that he was intending to sell it... so traders consequently artificially lowered the price in order to make a tidy profit even if they'd then sold it as soon as they got the true price! Link to comment Share on other sites More sharing options...
snowychap Posted May 13, 2010 Share Posted May 13, 2010 it will take more than 1 term (5 years) of Conservative-Lib to get the Annual Deficit into a surplus again. You say that as though a budget surplus is the default situation. :? Link to comment Share on other sites More sharing options...
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