Mini Budget aka Fiscal Statement

[mogga71]

Am I being too cynical to say that I'm not convinced they will stick to that statement?

It was just a PR exercise to say "hey look, we're doing something", then judge the reaction, but come budget time things might change.
Also, given the murmurs in the Tory press, it appears that Liz could end up being the shortest serving PM - we could have a different one by Christmas.

Nobody can sort this mess out as it's totally unsolvable. When you have printed so much money and the debt becomes so massive there is literally no way back. Every fiat currency has failed ... and all because of massive increases in the monetary supply. The debt becomes so big that in order to try and control the resulting runaway inflation you need high interest rates but the only way you can keep up the interest payments associated with them is to print more money.

You know things are desperate when the monetary policy provides another interest rate increment and literally a couple of days later fiscal policy dictates more debt and lower taxes. We really shouldn't be raising interest rates into a recession and at the same time lowering taxes by borrowing even more.

Of course, we are no different from virtually every other country ... we all just follow America's lead. Basically, there is now ZERO intention of ever paying back the debt.

[JPC]

The millionaire can afford to contribute more....

And if you think live is hard for "millionaires" now wait until after the current crisis when the Government needs to satisfy the IMF and generate a balanced budget....

They ARE contributing way more already? 33times more in this example. Why should people who devote their lives and sacrifice so much be penalised for this with an increased percentate of deductions on their salary, percentage already dictates they pay more?

Look at it another way. Why should the person who can't be bothered to go to work pay less than the guy who decides relying on welfare isn't the way forward and gets a basic job.

If we want equality that's fine we all have a tax debt to pay each year, same for everyone a fixed amount we must all pay?

[SueEllen]

Just think though, it could be worse, Labour could be in charge ....

But Comrade Corbyn....


https://www.independent.co.uk/news/u...-b2175295.html

[WTFH]

Am I being too cynical to say that I'm not convinced they will stick to that statement?

It was just a PR exercise to say "hey look, we're doing something", then judge the reaction, but come budget time things might change.
Also, given the murmurs in the Tory press, it appears that Liz could end up being the shortest serving PM - we could have a different one by Christmas.

[Whorty]

Just think though, it could be worse, Labour could be in charge ....

[eek]

The budget as a whole, I can’t see the IR35 bit sticking because of the bonfire that it’s going to generate - no growth, NHS turning private and the UK turning into another Greece.

The IR35 bit is about the only bit I see sticking - the current scheme isn't working so going back to the old rules and then trying to find a proper fix actually makes a bit of sense....

[sadkingbilly]

[cojak]

Which bit - the budget as a whole (I've seen texts from 2 different banks saying the Government now has zero economic credibility due to the statement regarding trickle down economics - both were actually OK with the budget it's that statement everyone hated) or the IR35 bit?

I wasn't kidding when I said on Friday my plan is to start a contractor accountancy firm....

The budget as a whole, I can’t see the IR35 bit sticking because of the bonfire that the budget is going to generate - no growth, NHS turning private and the UK turning into another Greece.

[eek]

Personally, I think that this whole thing is going to end up being a massive tulipshow of a flaming car crash bouncing off a children’s marching band, rolling down a hill though a garage forecourt and ending in a petting zoo….

Which bit - the budget as a whole (I've seen texts from 2 different banks saying the Government now has zero economic credibility due to the statement regarding trickle down economics - both were actually OK with the budget it's that statement everyone hated) or the IR35 bit?

I wasn't kidding when I said on Friday my plan is to start a contractor accountancy firm....

[cojak]

The millionaire can afford to contribute more....

And if you think live is hard for "millionaires" now wait until after the current crisis when the Government needs to satisfy the IMF and generate a balanced budget....

Personally, I think that this whole thing is going to end up being a massive tulipshow of a flaming car crash bouncing off a children’s marching band, rolling down a hill though a garage forecourt and ending in a petting zoo….