Autumn Statement

[Guest pelmetman]

We're still in deep do do

We will be in deep do do for many years

We will pick even more from your pockets, to pay for the banks stupidity

 

Now for the bad news >:-)

[antony1969]

Dave , wear Lycra , no pockets

[CliveH]

Rumour has it that he will announce 30 or so gas fired power stations on the assumption that the vast reserves of Shale Gas we sit on will do the same for the UK economy that it has done for the USA.

 

Quite where that leaves idiot Davey with his idea of a 20% price surcharge of domestic fuel to pay for wind farms is anyones guess.

 

I also hear Osbourne plans some interesting announcements - no hint of what they are really but it seems likely it will some sort of infrastructure boost.

 

Should be an interesting day - if you are a saddo like me that is (lol)

[BGD]

pelmetman - 2012-12-05 9:53 AM

 

We're still in deep do do

We will be in deep do do for many years

We will pick even more from your pockets, to pay for the banks stupidity

 

Now for the bad news >:-)

 

 

You've swallowed the politicians hype.

 

It wasn't the banks that caused the problem.

 

The debt-burden of the UK is SOVEREIGN debt, that is, Government borrowing. Almost all of that borrowing was done during the past Labour administration. Because even during the "boom" years, G. Brown was borrowing much more than he was raking in via tax receipts, in order to fund the massive expansion, and crippling ongoing running costs, of his beloved Public Sector.

The UK was almost the most indebted Government (so, read: taxpayer liability) of any country on the planet, BEFORE a couple of banks went tits up.

The amount that was used to "bail out" those two bad banks was a tiny, utterly miniscule, drop in the ocean compared to existing UK Government borrowings. It's now taking a substantial slug of all tax receipts that Osbourne gets in, just to pay the INTEREST only, on previous borrowings.

 

The "global recession" is a total invention.

A phrase dreamed up by UK politicians to seek to divert blame away from themselves to some unknown outside event . It's not true.

Massive numbers of countries around the world haven't seen a recession at all, they're booming. India, China, the far East, Germany, France, Canada, Brazil, etc etc.

It is ONLY countries that had spent beyond their means every year, and thus borrowed more and more on the premises of never ending significant growth, for decades, such as the UK, who've been wrecked by the economic recession over in the USA.

 

[Tracker]

And still the brainwashed masses vote for Labour - the theoretical party of the worker - when will they ever learn?

 

Not that the Tories are much better these days but personally I have more faith in the coalition to sort it than a return to the alternative.

 

To me it is good that the coalition parties have public disagreements and I don't see it as disunity I see it as free and frank exchange of views whilst working towards the least unpalatable solutions.

 

But I too don't expect any extra Christmas pressies from our Uncle George today!

[Guest pelmetman]

BGD - 2012-12-05 10:15 AM

 

pelmetman - 2012-12-05 9:53 AM

 

We're still in deep do do

We will be in deep do do for many years

We will pick even more from your pockets, to pay for the banks stupidity

 

Now for the bad news >:-)

 

 

You've swallowed the politicians hype.

 

It wasn't the banks that caused the problem.

 

The debt-burden of the UK is SOVEREIGN debt, that is, Government borrowing. Almost all of that borrowing was done during the past Labour administration. Because even during the "boom" years, G. Brown was borrowing much more than he was raking in via tax receipts, in order to fund the massive expansion, and crippling ongoing running costs, of his beloved Public Sector.

 

Fair comment Bruce...... but they didn't help, and they're still not helping now, considering they have been given 4 and a half billion at a low interest rate to lend to business........and have so far only lent half a billion *-)

[BGD]

pelmetman - 2012-12-05 1:24 PM

 

BGD - 2012-12-05 10:15 AM

 

pelmetman - 2012-12-05 9:53 AM

 

We're still in deep do do

We will be in deep do do for many years

We will pick even more from your pockets, to pay for the banks stupidity

 

Now for the bad news >:-)

 

 

You've swallowed the politicians hype.

 

It wasn't the banks that caused the problem.

 

The debt-burden of the UK is SOVEREIGN debt, that is, Government borrowing. Almost all of that borrowing was done during the past Labour administration. Because even during the "boom" years, G. Brown was borrowing much more than he was raking in via tax receipts, in order to fund the massive expansion, and crippling ongoing running costs, of his beloved Public Sector.

 

Fair comment Bruce...... but they didn't help, and they're still not helping now, considering they have been given 4 and a half billion at a low interest rate to lend to business........and have so far only lent half a billion *-)

 

 

 

Stay with the Big Picture, not the tiny, insignificant distractions from it that politicians try to sell to hide the Big Picture.

 

Here's the one number to really worry about.

This is how much the UK now owes, ie the total of it's current borrowings on the international bond ( money) markets, as at todays Autumn statement:-

£1,078,250,511,959.

And Osbourne is going to have to borrow YET MORE, as he can't get the Public Sector to stop spending/shrink fast enough to match falling tax receipts.

 

ALL of that money has to be repaid, plus interest, in the coming years and decades.

ALL of it.

By who?

UK taxpayers.

 

 

 

For a bit more detail on the size and implications of this staggeringly enormous number, and to actually watch it growing, have a look at this:

http://www.debtbombshell.com/

 

 

 

 

[Guest pelmetman]

BGD - 2012-12-05 12:59 PM

 

£1,078,250,511,959.

 

 

8-).................That's a heck of a lot of pork pies :D.................glad I don't pay income tax anymore B-)....................

 

At least Ozzy has said we can earn even more now tax free.............nearly 20k :->.................but that would mean working more :-S................dam..... knew they'd be a catch *-)

[Tracker]

pelmetman - 2012-12-05 3:06 PM

At least Ozzy has said we can earn even more now tax free.............nearly 20k :->.................but that would mean working more :-S................dam..... knew they'd be a catch *-)

 

From where we sit in our nice warm home with all our nice toys all the years of saving and contributing into both occupational and voluntary private and AVC pensions and paying higher rate income tax and obscene amounts of NI don't seem so bad after all? But perhaps no more than all honest tax payers deserve as a reward for doing all the right things to save for their own old age when they reach the specified retirement age. I really don't know how future generations will be able to achieve what we (by we I mean many of our generation) have been fortunate enough to achieve?

 

More tax free income plus 2.5% more on our pensions will do nicely thank you Uncle George considering what those with family budgets trying to hold onto a job are having to contend with.

 

Trying to reverse the trend from jobs in the public sector producing artificial low unemployment but zero profit for the nation into wealth creation by innovation and initiative from the self employed, new and potential businesses and smaller companies and their often dedicated work forces was never going to be easy. Trying to change the culture of generations from I know my rights to I accept my responsibilities both for myself and for my fellow citizens in need is always going to be hard. Changing a culture of takers into a culture of payers is just like turkeys and Christmas again!

 

 

 

 

[antony1969]

Very well said Rich , by the way what's this " honest tax payer's " thing mean.

[Guest pelmetman]

antony1969 - 2012-12-05 4:30 PM

 

Very well said Rich , by the way what's this " honest tax payer's " thing mean.

 

Its like saying my name's Mr Starbucks and I pay my tax :D

[Brian Kirby]

pelmetman - 2012-12-05 5:44 PM

 

antony1969 - 2012-12-05 4:30 PM

 

Very well said Rich , by the way what's this " honest tax payer's " thing mean.

 

Its like saying my name's Mr Starbucks and I pay my tax :D

Sorry Dave, but didn't you mean "Its like saying my name's Mr Starbucks and I PROMISE I WILL pay my tax"? :-D

[Guest pelmetman]

Brian Kirby - 2012-12-05 6:52 PM

 

pelmetman - 2012-12-05 5:44 PM

 

antony1969 - 2012-12-05 4:30 PM

 

Very well said Rich , by the way what's this " honest tax payer's " thing mean.

 

Its like saying my name's Mr Starbucks and I pay my tax :D

Sorry Dave, but didn't you mean "Its like saying my name's Mr Starbucks and I PROMISE I WILL pay my tax"? :-D

 

That's the point Brian ;-)...............apparently they were legally paying what they had to *-)..............along with every other big business, they have a nice cozy chat with the tax man to decide how much they should pay *-)............

 

It wasn't like that when they tried to screw me for 13k >:-(............hence I have little time for big business or their puppets our politicians >:-)...............Incidentally why does anyone who can afford to stash 40k a year in a pension need tax relief?................

[antony1969]

Personally Dave I would say if they are paying what they are legally expected to pay then we can expect no more .

The big companies like Mcdonalds , Starbucks and the rest indirectly add millions to our government coffers with employees tax and purchases from suppliers and the employment that brings etc .

Even though they probably pay millions less than they could I would rather have them than any of the crooked filth at Westminster that swindled us for years with there dodgy expense claims .

[Tracker]

antony1969 - 2012-12-05 4:30 PM

 

Very well said Rich , by the way what's this " honest tax payers " thing mean.

 

An honest taxpayer is to my way of thinking an ordinary person employed, self employed or in business who has neither the greed, will, accountancy, or financial shenanigans experience to bend the rules and so pays their fair share of tax according to their actual income not their distorted income.

 

I always did but that is not say that I didn't follow the rules in honestly claiming whatever the rules would allow me to whenever the opportunity arose - but I still paid a lot of tax as a proportion of my income for a lot of years!

[Guest pelmetman]

antony1969 - 2012-12-05 7:30 PM

 

Personally Dave I would say if they are paying what they are legally expected to pay then we can expect no more .

The big companies like Mcdonalds , Starbucks and the rest indirectly add millions to our government coffers with employees tax and purchases from suppliers and the employment that brings etc .

Even though they probably pay millions less than they could I would rather have them than any of the crooked filth at Westminster that swindled us for years with there dodgy expense claims .

 

A level playing field would be nice ;-)................I didn't get a cosy chat about how much tax I should pay............just the threat of the Inland revenue gestapo hanging over my head for 18 months............and a 2k bill from my accountant for sorting it out *-)

 

Shouldn't grumble I suppose as I'd probably be working my butt of now, and have a lot more staff giving me a headache *-).......................so all in all they did me a massive favour B-)

[CliveH]

And THAT is the real problem with where we as a country are today Dave.

 

You try to work hard to set up a business and get no help whatsoever - BUT as soon as you start being successful and army of Civil Servants descend on you and tell you what you can't do - and no concept of "can-do" at all.

 

I simply do not see why anyone would bother trying to set up a business here in the UK.

 

Because having done it and realised that legislation and the legislators treat anyone that wants to put their money where their mouth is regarding setting up a business, as a pocket to be picked.

 

The small business person in the UK puts everything on the line - and in return? Virtuously sweet FA. The tax taken just goes into the bottomless pit that is public spending. Whilst benefits have been cut back a tad and that is welcome news – the soaring Public Sector costs as a percentage of GDP is actually higher now than ever!

 

The result is disillusion and depression at the missed opportunities. And those that carn’t being rewarded and those that can taking the sensible option and NOT running a business that employees anyone.