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Politics, politics, politics (so long and thanks for all the fish)

As I've explained, in 2010, the budget deficit was 10% of GDP. I.e. the government was committed to borrowing 10% of GDP every year. It took the government until 2017/2018 to bring the deficit down to a figure which could easily be managed without significant annual borrowing (for example via quantitative easing) During that time, national debt increased significantly as you point out. Because every year there was a deficit between what the govt was spending and what it was making via revenue, it had to borrow to plug the difference.


Did you even look at the video? Or does that not meet your confirmation bias?

Head in the sand stylee.
 
My grandad was an officer in the army. Do i therefore have an inherited right to now be in charge of some of our weaponry and soldiers?

Commonland and small holders got taken out centuries ago. The farmers now are just the descedents of the super rich who stole it all from everyone
Entirely different circumstances that is not even comparable.

The Army is something you join, your family home isn't.

I have no problem with going after the tax dodgers. Labour should have had a more nuanced approach.

Like Clarkson said, it's fine to go after the people him, but leave the family farms out of it.

But then I hate inheretance tax, and there are far better ways achieving fairer tax system.
 
Did you even look at the video? Or does that not meet your confirmation bias?

Head in the sand stylee.
The video isn't really worth looking into for me. I've explained to you why austerity was necessary. It was nothing to do with a paper claiming that debt hurt economic growth. It was about needing to introduce liquidity back into the banking sector and wider economy and the fact that the huge budget deficit meant the government was having to take liquidity out of the banking sector every year by borrowing and the only option to reduce borrowing year on year was to cut public spending year on year. The video is a lot of crap.
 
Entirely different circumstances that is not even comparable.

The Army is something you join, your family home isn't.

I have no problem with going after the tax dodgers. Labour should have had a more nuanced approach.

Like Clarkson said, it's fine to go after the people him, but leave the family farms out of it.

But then I hate inheretance tax, and there are far better ways achieving fairer tax system.
The local 'family farmers' round where i am - the Duke of Rutland and the Duke of Devonshire - own half a county. They can keep a semi detached house if they need a home. But they dont need enough land to set up a small nation.
 
The video isn't really worth looking into for me. I've explained to you why austerity was necessary. It was nothing to do with a paper claiming that debt hurt economic growth. It was about needing to introduce liquidity back into the banking sector and wider economy and the fact that the huge budget deficit meant the government was having to take liquidity out of the banking sector every year by borrowing and the only option to reduce borrowing year on year was to cut public spending year on year. The video is a lot of crap.

Kind of suns you up mate.

Edit. Sums
 
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Does that sound like a "serious" economist whose credentials aren't in doubt to you?
If that whistleblower is right, Rachel Reeves definitely lied and that is a very bad thing.

For balance, in terms of "serious economist whose credentials aren't in doubt", prior to becoming a Tory:

George Osborne got a 2:1 in Modern History. Then he wrote the 'Peterborough' diary column in the Telegraph.
Jeremy Hunt got a 1st in PPE, then worked as a management consultant for 2 years, then became an English teacher in Japan, came back to England and tried to be an entrepreneur exporting marmalade to Japan, founded a company and sold it for millions.
Kwasi Karteng got a double 1st in classics and history at Cambridge, won numerous awards, then a PhD in economic history, then a columnist, then a financial analyst at JPMorgan and a hedge fund. So he seems more like an economist than the others, but was and is an arse.
 
The local 'family farmers' round where i am - the Duke of Rutland and the Duke of Devonshire - own half a county. They can keep a semi detached house if they need a home. But they dont need enough land to set up a small nation.
That is where you are and just looking at one extreme scale of the problem.

Screw over everybody else to get at the minority of people is a stupid way to go about it. Because the people you point out can afford to pay the inherentence tax, the family farmer that has worked the family land that is not a millionaire and they are the one's who will get screwed, not the people at end of the stick your pointing out.
 
If the farms are nationalised, farmers can then be given a decent guaranteed salary. Maybe 5 year rolling tenancies to give them a bit of stability. If their livlihoods are so precarious (despite all being millionaires) that could be an improvement?
Here, take our family land and our home and give us government wages.

It stinks of communism.

Edit: As it has been pointed out literally everywhere, you are calling people millionaires, but their wealth is the land they grow crop and live stock they keep.
 
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Farage bringing a private prosecution against the guys who unprovoked attacked violently female police officers at Manchester airport is an interesting development.

As our court system has become ever more political and the CPS make odd decisions about the seriousness of crimes I wonder if this will happen more.
Don't be too harsh on the police. They've got a lot of work to do chasing down pre-crimes and thought crimes.
 
I'll be honest I'd take her over the previous idiot who destroyed the schools and the health sector before entering number 11. Hunt was a real piece of inadequacy. Then let's look at who he succeeded. Kwarteng is going to cost me a fortune when I get a new mortgage in January. I have a friend who was super unlucky and his mortgage went up by 1500 a month thanks to that taco.

So I'll stick with this one and wait a few months before decrying her CV.
Yet you support this chancellor and the increase in mortgage rates her economic incompetence has created?
 
Indeed, and this is precisely the deliniation it is important to make. Gentleman farmers vs small farmers just trying to survive. I am talking about small-scale farms. Again, I am possibly not articulating myself clearly. This group seem to capture the spirit of what I mean...

https://landworkersalliance.org.uk
Don’t disagree, Steff - but the tax legislation is not going to affect smaller, less wealthy farms.

Much less widely reported is Labour’s budget commitment to invest £5 billion into farming over the next couple of years to help sustainable farming and boost productivity in the agricultural sector.

A lot of this story can quickly be filed under RICH PEOPLE DON’T WANT TO PAY MORE TAX SHOCKER.
 
Councils bankrupt; prisons massively underfunded and overspilling; schools skint; the NHS in shreds; universities battling bankruptcy; mortgages soaring; and economic figures which didn’t add up.

It’s quite the economic legacy, for sure.
The Conservatives taxed and spent more than any government since WWII.

The problem isn't there, you're looking the wrong way.
 
That is where you are and just looking at one extreme scale of the problem.

Screw over everybody else to get at the minority of people is a stupid way to go about it. Because the people you point out can afford to pay the inherentence tax, the family farmer that has worked the family land that is not a millionaire and they are the one's who will get screwed, not the people at end of the stick your pointing out.
England doesnt have smallholders (Scotland still has a few crofters) - they got removed by the agricultural revolution centuries ago. Every farmer left is a at least a millionaire.
 
Just like every pensioner.
Its what happens when you have the most economically right wing government in the continent for 50 years.

Teachers using food banks, university lecturers having to sleep in their cars, but very wealthy died blue parts of the population like pensioners and farmers
 
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Don’t disagree, Steff - but the tax legislation is not going to affect smaller, less wealthy farms.

Much less widely reported is Labour’s budget commitment to invest £5 billion into farming over the next couple of years to help sustainable farming and boost productivity in the agricultural sector.

A lot of this story can quickly be filed under RICH PEOPLE DON’T WANT TO PAY MORE TAX SHOCKER.

Got it, and appreciate that 'less widely reported' info that I had not seen. Good news!
 
Farmers who own the land and business are really up against it. The estate value includes the machinery (typically valued over a £million) farmland, farm buildings, farmhouse, and yes, crops in the ground).

Three generations of taxation in a century will take out about 80% of that family asset. How can a business survive facing that backdrop?

This is about land in my opinion. Rayner wants it prised from private ownership to build houses on.

The fundamental mistake is that farming is a primary industry, one of very few we have left, and of the utmost value to the nation. The only value family farmers get from the increasing value of their land is for using as collateral for borrowing.
 
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