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Ask the TSR Government - 22nd Parliament watch

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    Stock answers incoming, Jammy Duel , I know the answers to your question; substitute Christmas with exams, or Easter to find out.

    (Original post by PetrosAC)
    Hi JD,They've had some RL problems which is why they have been absent. They did check in late in February to say they'd be back around this time, so they should be back within the next few days.Obviously, I cannot say any of this for certain, and it's possible their policies will be pushed back a little. However, we will keep working on our plans in Government and I'm sure that once they are is back, you will agree that they are more than capable in their roles.
    (Original post by PetrosAC)
    It's obviously going to be a quieter period over March as people will be spending more time revising for their exams.
    (Original post by junaidk7)
    Hear, hear.I agree with the fact that sometimes members have more important issues or responsibilities that they must address and focus their time on. This is only natural and one should respect that this happens and not simply jump to conclusions. I think it's highly amusing that members of the previous government are trying to call this government inactive and quiet. This government is working towards producing key legislation, and departmental reviews. If members have any question for the government or members of the cabinet feel free to ask I'm sure we will be quick to answer.
    (Original post by cranbrook_aspie)
    (Original post by Aph)
    may I ask the government why it belives the house has been relatively quiet this term and if we can expect any explosions over easter?
    It's probably for the simple reason that a lot of us have rl commitments and have been very busy. I know for a fact that I'm planning on writing a couple of bills over Easter, but that doesn't exactly count as an explosion
    (Original post by PetrosAC)
    Look, I don't have control over people's lives and their RL commitments. People give all they can. For some it's a lot, for some it's only logging on and voting a few times a week. People have to remember that this is just a game and shouldn't expect loads of legislation for the whole term. There will be peaks and there will be drops. Some members will have more time over Easter, some will have less. People have to accept that the MHoC isn't and shouldn't be people's top priority.
    (Original post by United1892)
    You can hardly talk about poor activity, lack of legislative agendas and absense of key people after your last government (if you can call it that).
    (Original post by PetrosAC)
    If the Shadow SoSs want to hold us to account, they should be in here questioning us over what we are planning to do on different matters and situations.
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    (Original post by Lime-man)
    The housing plans have been in the pipeline since day one of entering government.

    Would the Prime minister assure me now that if I get something written up which adequatly enacts the governments housing plans that he'd second such a motion? Because, if so, then I'd have something written by tomorrow night.
    We have something that just needs finishing touches before it can be submitted.

    The absence of the Chancellor has not helped, but Petros and I are now running the Treasury in the interim and we are just finalising the means by which our housing plans will be financed.
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    (Original post by Jammy Duel)
    Given the term is rapidly drawing to a close, is there any chance at all that we will see any items from PetrosAC as Home Secretary, thehistorybore for Justice, DanE1998 for Constitutional Reform/Devolution, cranbrook_aspie for BIS, junaidk7 for Education, LovepreetDhillon for Transport, or 'equality', or even ivybridge from the DWP. How about something from DanE1998 and/or United1892 to deal with the blunders of the government and deal with the Foreign Aid budget?
    You will see some items, but you know as well as I do that there is not going to be an SoI from each department. We are however the first government in my time here to have really done anything with a lot of Cabinet positions (bar the Great Offices) and I can well remember a time where a departmental statement was something almost unheard of. We produced one in Parliament 19 IIRC, and this was not shocking or scandalous for us or the opposition parties.
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    (Original post by Saracen's Fez)
    We have something that just needs finishing touches before it can be submitted.

    The absence of the Chancellor has not helped, but Petros and I are now running the Treasury in the interim and we are just finalising the means by which our housing plans will be financed.
    Borrow £20bn a year for 5 years, pay £1.5-2bn a year in interest repayments, gain £2.5bn a year in revenues from the houses. £500m surplus.

    Financing it is easy.

    The problem with the budget was that I accounted for the interest repayments but not the amount borrowed, which was a minor mistake, but it had implications on the deficit.
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    (Original post by Saracen's Fez)
    You will see some items, but you know as well as I do that there is not going to be an SoI from each department. We are however the first government in my time here to have really done anything with a lot of Cabinet positions (bar the Great Offices) and I can well remember a time where a departmental statement was something almost unheard of. We produced one in Parliament 19 IIRC, and this was not shocking or scandalous for us or the opposition parties.
    Pretty sure I recall the claim being made that there would be one from all departments
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    (Original post by Jammy Duel)
    Pretty sure I recall the claim being made that there would be one from all departments
    From whom?
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    (Original post by Lime-man)
    Borrow £20bn a year for 5 years, pay £1.5-2bn a year in interest repayments, gain £2.5bn a year in revenues from the houses. £500m surplus.

    Financing it is easy.

    The problem with the budget was that I accounted for the interest repayments but not the amount borrowed, which was a minor mistake, but it had implications on the deficit.
    That is not how government borrowing works, nor is it how government borrowing should work; governments pay the interest on a loan until inflation reduces the actual value of the borrowed money, allowing the borrowed money to be paid off in one go.
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    (Original post by Lime-man)
    Borrow £20bn a year for 5 years, pay £1.5-2bn a year in interest repayments, gain £2.5bn a year in revenues from the houses. £500m surplus.

    Financing it is easy.

    The problem with the budget was that I accounted for the interest repayments but not the amount borrowed, which was a minor mistake, but it had implications on the deficit.
    And like that the debt spirals, looked at the currently issued GILTS and you're looking at a few percent still, which means that the proposed interest repayments won't even cover the interest, and that ignores the way GILTS actually work.
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    I call for an election immediately.. less housing more electioning!!!!!!!!!!!!!!!!!!!!
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    (Original post by Nigel Farage MEP)
    That is not how government borrowing works, nor is it how government borrowing should work; governments pay the interest on a loan until inflation reduces the actual value of the borrowed money, allowing the borrowed money to be paid off in one go.
    How's that different to what I wrote above?

    If the government takes out a £100bn loan, then interest repayments increase by the current interest rates, which are about 1.5-2%.

    At the moment we pay like £45bn per year in interest repayments, they'd increase to around £47bn if housing plans passed, and would be paid off at some point in the future.
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    (Original post by Jammy Duel)
    And like that the debt spirals, looked at the currently issued GILTS and you're looking at a few percent still, which means that the proposed interest repayments won't even cover the interest, and that ignores the way GILTS actually work.
    In this case though, borrowing isn't too bad a thing, especially when the revenues pay for the interest repayments. It's when we borrow to pay for the general spending that's when it becomes an issue.

    Not to mention the savings in housing benefit.
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    (Original post by Nigel Farage MEP)
    That is not how government borrowing works, nor is it how government borrowing should work; governments pay the interest on a loan until inflation reduces the actual value of the borrowed money, allowing the borrowed money to be paid off in one go.
    (Original post by Jammy Duel)
    And like that the debt spirals, looked at the currently issued GILTS and you're looking at a few percent still, which means that the proposed interest repayments won't even cover the interest, and that ignores the way GILTS actually work.
    Just to be clear, my Housing SOI is completely finished in terms of contents. I'm still trying to work out how to finance it because frankly, my maths/costing is not great and I don't particularly want to borrow large sums of money.
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    (Original post by PetrosAC)
    Just to be clear, my Housing SOI is completely finished in terms of contents. I'm still trying to work out how to finance it because frankly, my maths/costing is not great and I don't particularly want to borrow large sums of money.
    You stated the housing Statement of Intent was ready a month before the budget was ready, the costing should have been completed by now.
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    (Original post by Lime-man)
    In this case though, borrowing isn't too bad a thing, especially when the revenues pay for the interest repayments. It's when we borrow to pay for the general spending that's when it becomes an issue.
    Except the revenues don't, again, you don't understand the way government borrowing works. Suppose we just break it down into £20bn borrowing chunks that each lead to 500m revenues, to get that £20bn to spend £20bn worth of GILTS would be issued, the question then becomes for how long and at what rate, let's take the long term GILTS issued in 2014 as an example. They have an interest rate of 3.5% on them and are redeemed in 2045, it is worth noting that that 3.5% is above inflation, so for the first round of calculations we shall assume zero inflation. When it comes to those GILTs being redeemed, the payment that needs making is 58.1bn, over those 31 years, however, the revenues are only 15.5bn, not even what was borrowed in the first place, and not even half the interest.
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    (Original post by Nigel Farage MEP)
    You stated the housing Statement of Intent was ready a month before the budget was ready, the costing should have been completed by now.
    James disappeared so I never got to find out how we were financing it. Then we had United who's been working on the finance bill who has now disappeared. Admittedly, yes, it should have been out by now, but I'm still trying to find a way of financing it.

    I've worked out the cost - that's not the issue.
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    (Original post by PetrosAC)
    Just to be clear, my Housing SOI is completely finished in terms of contents. I'm still trying to work out how to finance it because frankly, my maths/costing is not great and I don't particularly want to borrow large sums of money.
    You say that, but the repayments are financed by the revenues, which return a surplus. And that's not to mention the savings 500,000 homes would bring in other areas of government spending.
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    (Original post by Lime-man)
    You say that, but the repayments are financed by the revenues, which return a surplus. And that's not to mention the savings 500,000 homes would bring in other areas of government spending.
    If you seriously think we can just borrow £100bn and nothing will happen, you're crazy
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    (Original post by PetrosAC)
    James disappeared so I never got to find out how we were financing it. Then we had United who's been working on the finance bill who has now disappeared. Admittedly, yes, it should have been out by now, but I'm still trying to find a way of financing it.

    I've worked out the cost - that's not the issue.
    Don't listen to James, he has absolutely no idea what he is talking about, just like when he was chancellor.
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    (Original post by Jammy Duel)
    Don't listen to James, he has absolutely no idea what he is talking about, just like when he was chancellor.
    I've realised that by now

    Got any ideas on how to raise £60bn-£100bn?
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    (Original post by PetrosAC)
    I've realised that by now

    Got any ideas on how to raise £60bn-£100bn?
    Somehow stop that god awful ATA being repealed, it's got you on a surplus in excess of £100bn
 
 
 
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