Gordon Brown's recession

[TheFaQQer]

Not bad at all. They are still trying to match "Labour isn't working".

Infinitely better than "Labour's Double Whammy"

[Cyberman]

Removal of 150 billion in taxes? Surely a typo?

Not a typo at all !! 5 Billion a year since 1997 = 5 times 12 = 60 Billion

Then you have to add the compounded growth including inflation over 12 years that could have been expected within those pension funds on that 60 Billion. Experts have previously estimated the loss to pension funds of 150 Billion.

[MrMark]

Not a typo at all !! 5 Billion a year since 1997 = 5 times 12 = 60 Billion

Then you have to add the compounded growth including inflation over 12 years that could have been expected within those pension funds on that 60 Billion. Experts have previously estimated the loss to pension funds of 150 Billion.

Ah - you meant removal of 150 Billion from the pension funds by taxes. I read it as "removal of 150 billion taxes" ie tax cuts. That's why I found it hard to comprehend.

[Cyberman]

Ah - you meant removal of 150 Billion from the pension funds by taxes. I read it as "removal of 150 billion taxes" ie tax cuts. That's why I found it hard to comprehend.

Perhaps I should have said 'due to taxes', but is it no wonder that all pensions schemes are such a mess after that 'stealth tax' was implemented against the advice of Brown's own expert advisors.
What makes it worse is that the 5 Billion a year has been plainly wasted. The VAT reduction to 15% will cost 12.5 Billion. He could have left 2.5 years of that tax in pension schemes rather than doing that !!

[d000hg]

The Tories have been doing that since 1997

So what you're saying is the Tories have deliberately sat there for over 10 years letting the country slowly fall apart, making no real effort to get into power? Maybe they knew they'd set up an economic time bomb when they were finally booted out by Tony, and have desperately been trying to keep Labour in power until it went off.

[AlfredJPruffock]

Vote for whom you will , it is rather like having a different Captain on the Titanic
moving a few deckchairs here and mulling over which colour of paint to use on the decks - ultimately the ship's going down.