The Labour Government

mosssideblue said:
Absolutely credible. Ever thought that now having full access to all areas she could have unearthed more issues the Tories were hiding? I suspect that will be the case.

Let’s see what she has to say.
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Whilst I agree that we should wait and see. Labour haven't done themselves any favours by painting themselves into a corner on VAT, NI, Income Tax and Pensions. I fully understand that they did it to win votes, but they run the risk of just looking like the next set of liars. It also makes it more difficult to justify the proposed 5.5% pay award for public sector workers which is much higher, if you believe what they say, than was budgeted.

Maybe an option would be to generate an entirely new ring fenced tax to cover healthcare, that everyone pays into. Still keep NI to cover pensions/social security etc. After all the Tory's did some time ago suggest a tax purely to cover social care.
 
Austerity Reeves this afternoon by all accounts.

Will be interesting to read reactions.
 
blueinsa said:
Austerity Reeves this afternoon by all accounts.

Will be interesting to read reactions.
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This was to be expected and it would of been moronic to think anything else. Labour are politicking (and lying) because of course they knew, anybody could of googled the public finances at any point within the last few years.

COVID saw the biggest post-war increase in burden on the public finances in history, the 'dodgy' contracts barely scratch the surface of the total and inevitable cost of COVID policy.

I mean bloody hell, the entire country was shutdown for years and people were being paid 80% of their salaries to not work, the cost of that was in excess of £400bn. Of course it wasn't going to be pretty and that's perhaps why now we spend more on debt interest repayments than we do on defence.

Labour will go their usual way, the cost of borrowing is currently high so they'll move to print money. It's impossible that businesses can keep prices down if the cost of borrowing stays high and business costs and taxes are inevitably increased.

They're also going to hand out big payrises to the public sector so another inflation boom is inevitable.
 
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If only we stopped the boats, or got this Rwanda scheme off the ground, or did the right sort of Brexit.

It would all be sound then.

When have we not been broke?

Its been a constant in my lifetime, this isn't new thing is it.
 
inbetween said:
This was to be expected and it would of been moronic to think anything else. Labour are politicking (and lying) because of course they knew, anybody could of googled the public finances at any point within the last few years.

COVID saw the biggest post-war increase in burden on the public finances in history, the 'dodgy' contracts barely scratch the surface of the total and inevitable cost of COVID policy.

I mean bloody hell, the entire country was shutdown for years and people were being paid 80% of their salaries to not work, the cost of that was in excess of £400bn. Of course it wasn't going to be pretty and that's perhaps why now we spend more on debt interest repayments than we do on defence.

Labour will go their usual way, the cost of borrowing is currently high so they'll move to print money. It's impossible that businesses can keep prices down when the cost of borrowing is high and business costs and taxes will inevitably be increased.

They're also going to hand out big payrises to the public sector so another inflation boom is inevitable.
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On that basis Labour were lying the least of all the parties. They presented the closest to a plausible fiscal plan.

Tories, had much more insight into the finances. They knew of the disasters in the pipeline yet were still talking up tax cuts. They were planning a Liz Truss debacle v2.
 
How much will we save not going ahead with the 40 new hospitals Johnson promised?
 
Gareth Barry Conlon said:
On that basis Labour were lying the least of all the parties. They presented the closest to a plausible fiscal plan.

Tories, had much more insight into the finances. They knew of the disasters in the pipeline yet were still talking up tax cuts. They were planning a Liz Truss debacle v2.
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Yeah definitely, all the more reason why I absolutely hate politicians.
 
Lowtower said:
In defence of them though, maybe "Change" shouldn't have been the message from Labour.
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On the environment, social housing, asylum, they're already planning or have announced things that are very different to the Tories.

So far, Reeves has said she's likely to give public sector workers an above inflation rise (remember one of the main planks of austerity was the pay freezes for these workers), and it's been heavily hinted that if there's a tax rise it'll be targeting unearned income. The main cuts appear to be delaying some of Johnson's more fanciful promises, which were still a long way from happening.

Whether the CGT stuff is a red herring (and that wouldn't surprise me), we'll find out, but if we end up with what's essentially a wealth tax, alongside a pay rise for teachers and nurses, then that's hardly a repeat of Osborne's austerity.

Whatever the case, there's a clear plan to link the Tories with a messed up economy, so the rhetoric and actions early on are going to be over the top. If they don't go on to make positive changes by the end of the parliament, I'd be very surprised.
 
inbetween said:
This was to be expected and it would of been moronic to think anything else. Labour are politicking (and lying) because of course they knew, anybody could of googled the public finances at any point within the last few years.

COVID saw the biggest post-war increase in burden on the public finances in history, the 'dodgy' contracts barely scratch the surface of the total and inevitable cost of COVID policy.

I mean bloody hell, the entire country was shutdown for years and people were being paid 80% of their salaries to not work, the cost of that was in excess of £400bn. Of course it wasn't going to be pretty and that's perhaps why now we spend more on debt interest repayments than we do on defence.

Labour will go their usual way, the cost of borrowing is currently high so they'll move to print money. It's impossible that businesses can keep prices down if the cost of borrowing stays high and business costs and taxes are inevitably increased.

They're also going to hand out big payrises to the public sector so another inflation boom is inevitable.
Click to expand...
Public sector pay leading to inflation?
 
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