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The Labour Government
- Thread starter SkyBlueFlux
- Start date
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.Austerity Reeves this afternoon by all accounts.
Will be interesting to read reactions.
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.
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.
One or two already creaming themselves, ready to come on here later all guns blazing and, they know who they are
In defence of them though, maybe "Change" shouldn't have been the message from Labour.
mosssideblue
Well-Known Member
See what you did thereIn defence of them though, maybe "Change" shouldn't have been the message from Labour.
Gareth Barry Conlon
Well-Known Member
- Joined
- 5 Sep 2014
- Messages
- 14,722
On that basis Labour were lying the least of all the parties. They presented the closest to a plausible fiscal plan.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.
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.
Yeah definitely, all the more reason why I absolutely hate politicians.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.
In defence of them though, maybe "Change" shouldn't have been the message from Labour.
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.
The Light Was Yellow Sir
Well-Known Member
Public sector pay leading to inflation?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.