UK recession deepens! Watch

Dalek1099
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#61
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#61
(Original post by naruto69r)
Cringing a lot at these posts. Just goes to show how little people understand and unfortunately this means political parties such as labour still get votes.

Cringed at one poster saying how the Tories have changed the election year from every 4 years to 5 years just so "they could get another year". What a plonker. It has always been five years, just tony Blair called elections earlier at times when he felt were most advantageous. Brown did not call early, but instead he clung on for the full 5 year term since 2005.

As with regards the economics, cutting 45% brought in more tax revenue than keeping at 50%. We had business owners fleeing the country at 50% and setting up HQs in more favourable tax countries. Better they pay 45% than no tax at all - ah but of course the labour bandwagon voters just harp on with the "oh look it's same old Tories bla bla bla" regardless.

All things considered, the tories are not doing that bad a job. You look at other euro zone countries and many of them are in far deeper **** that us. In Spain, 80% of young people are unemployed. Don't get me started on Greece.

Thing with labour is, they have a heart on social policy but they are clueless on the economy - they would just "put money in to the economy" and hope it turns in to growth. The economy is not a simple plant. You give it water, sun and nutrients and it grows - no - it is more complex than that. In the economy you need confidence and if people have no confidence in the economy (not because of the Tories) because of the global economic climate then they are not gonna spend that money you labourites have just placed in their pockets. So congratulations, you've just exploded our deficit even bigger and you have not achieved a fat lot (look across the pond at America!).

The IMF president said she shivered to think had we not dealt with our debts as drastically as we did (in other words she shivered at labours policy but she was too polite to say)...

We're now in a position where we have low interest rates to use as a basis to navigate choppy waters. We will be up and down but the ship looks like it will keep afloat in the long term...Greece, Spain are in utter storms economically speaking. We're not. Remember that.

I think the latest GDP contraction of 0.7% will be revised to about 0.4%. The unemployment figures have been improving which is a big big big contradiction.

There is not a fat lot we can do. Unfortunately people with little knowledge of economics think the gov't can wave a magic wand and everything will be ok. I despise Mr balls on the TV - I cannot decide if he is a downright liar or if he is actually genuinely incompetent and does not have a clue what he is on about - the ramifications of some of the things he suggests are so huge for our deficit and yet the man does not bat an eyelid while saying it. The worries me greatly to have someone like this possibly at the helm of our spending and tax schemes.

What little wriggle room the government does have is to borrow an amount of money (probably anything up to £8bn without rattling the markets) and invest it on infrastructure projects - building our way out of recession is a tried a tested solution in history and one that we should pursue. This is far wiser spending of money as we are likely to see a return on it in the long term alongside the boost to jobs in the short term. It is better than an across the board tax cut because most of the extra money people have from a tax cut will go to china in the form of ordering consumer goods - all of us sitting at home buying goods "made in china" and not the UK. That is why infrastructure spending is better than a tax cut in the current situation we are in. And we cannot spend more on welfare because it does not give the biggest returns (I don't like to use the extreme example of the single mum baby factories on benefits because it is used too often) but it does characterise the lack of return we would get on the limited amount of money we have available to borrow and invest.

Get the infrastructure projects brought forward ASAP, get the diggers rolling, the hammers banging and construction sector booming again.


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Don't be drawn in by this rubbish it hasn't been confirmed that more tax will be earned from the tax cut and it sounds rather foolish too,if you were relaxing had loads of money and paying no tax,you are suddenly going to pay 45% tax instead of 50%,no you aren't you are still aren't going to pay any tax because you would end up having to pay 45% of your wage instead of 0%-if you get away with paying none or extremely little,you will do it for the rest of your life unless the tax rates went a lot lot lower.
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rock_climber86
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#62
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#62
(Original post by 4RealBlud)
Forgive me if im being ignorant here, but i thought the economy was supposed to be doing better! Inflation is back down to 2.4%
and the price of a chocoalte bar is now up to 69p. Not good enough for me! My currency is chocolate!


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usamakhanlodhi
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#63
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I think we need to increase our trade with growing countries and be less reliant on e.u for trade(I understand it's easier to trade with the e.u but hopefully in time we can diversify trade) also to be honest all of this is expected with the economic plan Tories are following, and it's too late to jump ship now the markets will punish us heavily if we do.. I don't like it and if u read what Paul krugmans there were better alternatives but I don't think we can have a u-turn just have to whether the euro zone storm and once the global growth picks up our fiscal stance will be flexible enough for us to slowly recover, we just have to hope that the spending cuts have not reduced our productive capacity too much.. Also hopefully the Olympics will drum up some investment and spending to offset what it's costing us..
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Negaduck
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#64
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#64
Everyone knew from the Torie policies that there would be a double dip recession if they came into power. Now it's the worst thing in the world.

Sure, I hate the Tories. Not for this reason though, as the general economy goes they could be doing a much worse job. I hate them because they're taking a dumb on education and pissing all over the welfare state. Among other things.
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TurboCretin
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#65
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#65
(Original post by rock_climber86)
don't forget the tax cuts for the very wealthy. Some genius idea that was. Whilst us poor people suffer in the gutter. :congrats:
Great idea. Please, billionaires, move abroad and spend your money there instead. Wouldn't want you contributing to our economy or anything.
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Endless Blue
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#66
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(Original post by ukip72)
The reason economic growth was better in 2010 is because of borrowing. Labour didn't implement a single cut just continued to spend borrowed money. Any government can create economic growth off of the back of borrowed money, thankfully the Tories decided to recognise our deficit and do something about it, something Labour will never do.
I agree, Labour's overspending was totally reckless as I said in the post. The point I was making is they're all equally bad right now, I don't see the Conservatives doing a good job at all. I'd probably rather have ukip, at least they don't seem to attract all the racist idiots like the bnp.

However, Osborne is trying to cut the deficit too quickly in my opinion. Interest rates are reasonably low at the minute, but it seems his sole aim is to cut the deficit (which does need to be done, just not to this extent so fast) regardless of the effects on the economy.
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ukip72
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#67
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(Original post by benpearson1)
I agree, Labour's overspending was totally reckless as I said in the post. The point I was making is they're all equally bad right now, I don't see the Conservatives doing a good job at all. I'd probably rather have ukip, at least they don't seem to attract all the racist idiots like the bnp.

However, Osborne is trying to cut the deficit too quickly in my opinion. Interest rates are reasonably low at the minute, but it seems his sole aim is to cut the deficit (which does need to be done, just not to this extent so fast) regardless of the effects on the economy.
I'm not saying the Tories are doing a good job, they are just more realistic than Labour. Good to know you prefer UKIP.
The deficit hasn't been cut at all, we need a transformation for the British economy, genuine cuts accompanied by drastically lower taxes to prevent recession.
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Tahooper
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#68
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#68
OP is voting for Labour in the next general election?

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rock_climber86
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#69
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#69
(Original post by Tahooper)
OP is voting for Labour in the next general election?

yer u do that and i'll shove it so far up your arse and then shoot! BAM!!!


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BristolStudent96
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#70
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Please read my thoughts about whether Osborne should go or not.

http://thethoughtsandmusings.wordpre...orne-be-fired/
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vedderfan94
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#71
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inb4 people posting crap and pretending they know anything about economics. oh wait...
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Cannotbelieveit
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#72
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Labour got us into this ****ing mess, and now the Tories are getting slated for having to clear it up. No one said it was going to be easy, especially when we were left with the biggest deficit and debt the UK has ever had by the previous Government.
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cid
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#73
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#73
Tories will sort it, people will be sick of austerity measures and vote in Labour, economy will go to poo, people will get frightened and vote Tories back in, tories will sort it out...


If only we would break the cycle.
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A7d8i6l
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#74
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(Original post by cid)
Tories will sort it, people will be sick of austerity measures and vote in Labour, economy will go to poo, people will get frightened and vote Tories back in, tories will sort it out...


If only we would break the cycle.
Tories wont be able to sort it because there in a coalition and would rather suck up to the inexperienced Lid dems. By the way it wasn't labours fault for the recession, they were just unlucky that there was a global financial crisis and the banks wouldn't lend us money however, the double dip caused by both parties in the coalition have no excuse!! Taking too many policy u-turns doesn't help!! By the way I don't think Torres will come back in power for at least the next 10 years or so . . . . .


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rock_climber86
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#75
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#75
(Original post by A7d8i6l)
Tories wont be able to sort it because there in a coalition and would rather suck up to the inexperienced Lid dems. By the way it wasn't labours fault for the recession, they were just unlucky that there was a global financial crisis and the banks wouldn't lend us money however, the double dip caused by both parties in the coalition have no excuse!! Taking too many policy u-turns doesn't help!! By the way I don't think Torres will come back in power for at least the next 10 years or so . . . . .


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torres is a £50mill flop - he'll never be in power! Tories will fail miserably at the next election because of:

-economy shrinking,
-coalition screwing up the nhs,
-deficit not getting any smaller as the government borrows more to pay for more unemployed people on benefits
-tripling of tuition fees
-change in benefits system and this ridiculous back to work program
-tax breaks for the rich!
-taking credit if something goes right and blaming the labour government for anything that doesn't go right (sick of this already)
-general toffish behaviour by some elitist coalition politicians who pretend to know what working class people are going through but in reality they're just living in a bubble, hugging a hoodie and all this crap.

If i think of more I will add to this.

/rant
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ForKicks
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#76
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(Original post by rock_climber86)
Tories will fail miserably at the next election because of:

-economy shrinking,
-coalition screwing up the nhs,
-deficit not getting any smaller as the government borrows more to pay for more unemployed people on benefits
-tripling of tuition fees
-change in benefits system and this ridiculous back to work program
-tax breaks for the rich!
-taking credit if something goes right and blaming the labour government for anything that doesn't go right (sick of this already)
-general toffish behaviour by some elitist coalition politicians who pretend to know what working class people are going through but in reality they're just living in a bubble, hugging a hoodie and all this crap.

If i think of more I will add to this.

/rant
A bit certain for something that is not happening until 2015?

- It can easily be just as bad if not worse under Labour. Remember Brown days?
- NHS has always been screwed up in the eyes of the public!
- That's part of the global recession, the Government can't provide jobs to cover all the unemployed
-Who introduced fees in the first place? Fees needed to go up if the Government can't afford it. It's not like they are difficult to pay back either and grants still exist
- Administration is ridiculous, the policy itself is a good idea. Why would you not try to help?
- The breaks would not take place if they cost more money than they make (whether in the short or long run). Simple common sense
-Haha, because that is never the other way around when Labour were in power :rolleyes: You are used to successive Labour government's so it wasn't as evident for obvious reasons
- Sounds like a News of the World Torie stereotype. See the Miliband in a pastie shop video? What a normal working class man he is...
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ForKicks
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#77
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(Original post by Classical Liberal)
This is going to be a depression.
Well, it already is great depression level in Greece but I don't thing it will get that bad for the UK....I hope
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rock_climber86
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#78
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#78
(Original post by ForKicks)
A bit certain for something that is not happening until 2015?

- It can easily be just as bad if not worse under Labour. Remember Brown days?
- NHS has always been screwed up in the eyes of the public!
- That's part of the global recession, the Government can't provide jobs to cover all the unemployed
-Who introduced fees in the first place? Fees needed to go up if the Government can't afford it. It's not like they are difficult to pay back either and grants still exist - 3k is bearable, but 9k is just unbelievable!:eek: poor people like me are being put off uni because it's 9k, FACT, also why pic on the students - why not increase taxes on the rich to fund it? tax cut for rich and student fees going up - just bonkers!
- Administration is ridiculous, the policy itself is a good idea. Why would you not try to help?
- The breaks would not take place if they cost more money than they make (whether in the short or long run). Simple common sense
-Haha, because that is never the other way around when Labour were in power :rolleyes: You are used to successive Labour government's so it wasn't as evident for obvious reasons
- Sounds like a News of the World Torie stereotype. See the Miliband in a pastie shop video? What a normal working class man he is...
i'm certain There is too much anti tory and anti lib sentiment and it'll only get worse and the recession continues
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ForKicks
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#79
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(Original post by rock_climber86)
i'm certain There is too much anti tory and anti lib sentiment and it'll only get worse and the recession continues
Why would it matter if you are rich or poor? The rates for paying it back are a small amount when you start working and if you can't pay then you don't pay. That means that only those who can afford to pay it back have to. You could be rich and still have to pay it back at the same annual rates which aren't much at all. These are the rates post new fees:

Your income per year / Monthly repayments
£21,000 and under / no repayments
£25,000 / £30
£30,000 / £67.50
£40,000 / £142.50
£50,000 / £217.50
£60,000 / £292.50
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Maths Tutor
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#80
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#80
(Original post by meenu89)
The name is George.
His real name is Gideon and he is a multi millionaire.

He uses the name George to give the impression that we are all in it together.
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