Doomed - Forever

[DimPrawn]

http://www.telegraph.co.uk/finance/e...recession.html

The UK's business environment will "never return to pre-recession normality" and weak economic growth is likely to continue until 2015, according to some of the UK's top economists.


Quite some achievement, Mr Brown.

[sasguru]

Well considering that "pre-recession normality" was an artificial credit-induced bubble we should all be thankful.
And if most CEOs were really expecting a return to that "normality", then my intuitive feeling that our current leaders are complete imbeciles is vindicated.

[AtW]

then my intuitive feeling that our current leaders are complete imbeciles is vindicated.

What did your "intuitive feeling" tell you before the crash, the smash, the bash?

[TimberWolf]

We are still spending at pre-recession normality levels though. Boomed.

[sasguru]

What did your "intuitive feeling" tell you before the crash, the smash, the bash?

Told me to sell my BTLs - which I did for a massive profit.

HTH

[AtW]

Told me to sell my BTLs - which I did for a massive profit.

I trust it that you've paid CGT on all properties that were not your main bed sit over a kebab shop.

[sasguru]

I trust it that you've paid CGT on all properties that were not your main bed sit over a kebab shop.

Yes of course.
Fat 6 figure sum for el Gordo.

[AtW]

Yes of course.
Fat 6 figure sum for el Gordo.

I bet you were well chuffed that CGT was only 18% vs 40%!

[OwlHoot]

It's pretty obvious this recession is more of a step change than a dip.

Even this graph is probably a bit optimistic.

[DimPrawn]

I bet you were well chuffed that CGT was only 18% vs 40%!

You do realise that in the old system the tax was 40%, but taper relief meant that most people who have held on the the assets for a few years only paid an effective rate of 10%.

So in effect, CGT has almost doubled.