Previous UK government ‘covered up’ financial turmoil ahead of election

[bluethrunthru]

They would have had a general idea without knowing details I would have thought….

a general idea rather than detailed analysis of the numbers is why the Tories lost so spectacularly - what Reeves related today was an updated version of the letter from Johnson's teacher about his approach to school. Just do nothing - make the odd jolly comment and expect everyone to love you and forgive any shortcomings (mostly because you believe you don't have any )

 

[DenisLawBackHeel74]

I think this govt deserves a chance after the disaster of the last lot but I’m struggling to see how you bridge a £20Billion fiscal hole and pay junior Dr’s +22% salary plus x associated costs for pensions, without raising ‘working peoples’ level of taxation….

Genuinely hope they have a plan, because a lot of the things in the media such as increasing CGT, reducing pension contributions will be painful for many.

 

[PPT]

The winter fuel allowance has gone then. Unless you are on benefits of course.
Reeves is Margret Thatcher in disguise.

 

[SebastianBlue]

Yes. I don't think you needed to be an economist, fortune teller or have a direct line to the chancellor to realise the country is fucked.
I think most of us realised that starmers promise of 'change' was bollocks unless he raised taxes, but the tax burden is already huge

It is not a question of whether most relatively intelligent people even casually keeping abreast of goings on will have known that the nation’s finances are in turmoil.

It is more that the Tories were specifically telling boldfaced lies to cover up the extent and severity of the problem, including making promises of tax cuts that they could never, ever actually fulfil.

And I know plenty of people that absolutely believed those lies. Based on some posts in here leading up to the GE, there were a few on BM that seemed to swallow them.

I personally have my doubts Labour will be able to get even close to righting the ship within the next decade. Not because they don’t have the intention or competence to do so. But because the Tories left us in an absolutely horrific state that simply cannot be remedied in such a short period of time. And Labour will be facing roadblock after roadblock in attempts to implement the necessary policies (including higher taxation, especially of the top wealth deciles’ asset holdings, just to get their effective tax rates in line with the lower wealth deciles) to make up the massive budget shortfalls we are seeing and will continue to see over the next decade and beyond.

And much of the obstruction will not just come from the opposition, but from their own constituencies.

 

[Mr Kobayashi]

The winter fuel allowance has gone then. Unless you are on benefits of course.
Reeves is Margret Thatcher in disguise.

It was a sneaky bit of patronage. They will be bringing fuel bills down through the investment in green energy. so they don't need to give Bribes to affluent, Tory voting pensioners.

 

[bluenova]

I think this govt deserves a chance after the disaster of the last lot but I’m struggling to see how you bridge a £20Billion fiscal hole and pay junior Dr’s +22% salary plus x associated costs for pensions, without raising ‘working peoples’ level of taxation….

Genuinely hope they have a plan, because a lot of the things in the media such as increasing CGT, reducing pension contributions will be painful for many.

Around 1% of taxpayers will pay CGT in a tax year. Even over a ten year period, that only rises a couple of percent.

It's not really a 'working people' tax.

 

[Fred_Quimby]

The winter fuel allowance has gone then. Unless you are on benefits of course.
Reeves is Margret Thatcher in disguise.

There are many, many people like myself who don’t really need the winter fuel allowance; I usually gift to a homeless charity.

 

[kaz7]

The winter fuel allowance has gone then. Unless you are on benefits of course.
Reeves is Margret Thatcher in disguise.

She is going to make it easier for people to apply for pension credit , thousands are entitled to it but havent claimed it , martin lewis talks about it all the time , if they can get that done they will get the winter fuel allowance , at least post the details even if it pains you

 

[Mazzarelli's Swiss Cheese]

It's not high enough on those with the broadest shoulders. They need to pay their fair share after making away with the cash during the austerity years.

The pandemic also saw the very rich get richer as well. We're headed back to Dickensian times in terms of the distribution of wealth.

 

[SebastianBlue]

Around 1% of taxpayers will pay CGT in a tax year. Even over a ten year period, that only rises a couple of percent.

It's not really a 'working people' tax.

But, as is so often the case, the Tories will convince their constituencies it is by saying “when you become rich, do you want to pay this”?