Osbornes busy day at work...

[Sombrero]

A certain George Osborne has been busy today... how does it affect you?
For me? i've worked all my life, have a decent job, but seem to be paying out to support every other ****er!!!

Disappointing !!

 

[Norcon]

A certain George Osborne has been busy today... how does it affect you?
For me? i've worked all my life, have a decent job, but seem to be paying out to support every other ****!!!

Disappointing !!

Get used to it. The roma are on their way so the payments will only get bigger.

 

[Sombrero]

3p increase on fuel cancelled - gee thanks.... every food item i buy has gone up more than 3p.... in fact everything i have to pay out for has gone up more than 3% which is more than double my pay increase....

Osborne seems to have treated the wealthier person !!!

 

[joinerjohn]

What's the answer though Sombrero? Ed Balls?

 

[calorific]

The answer is to stop big foreign businesses bleeding the country dry by taking money abroad and avoiding paying tax.

When you look at Amazon for example, we all love it and use it. Is it beyond the wit of government to put up the taxpayer's cash to set up a UK owned and UK run equivalent online shopping service which repays the UK taxpayer the initial loan and/or pays full UK taxes and creates UK jobs for UK employees on the UK mainland, and pay a reasonable rate for the top exec's who set this up.

Is it really that difficult to do make this sort of arrangement and create other brands to compete with foreign owned companies such as Starbucks?

Seems a bleeding obvious place to start really.

 

[chapeau]

There is no answer. The good times are over and ain't coming back.

 

[bhm1712]

i agree with chapeau,

For some reason everybody i speak to seems to think once (if ever) the defecit is cleared and we are fully out of the downturn, then spending will go back to normal and all the pay cuts and squeezing of budgets will go back to how it used to be....never. They are here to stay now. The goal posts have been moved closer together, and they aint going to open up again. Why would they? the treasury has seen what can be achieved in times of austerity, and so it may even get worse when the economy returns to some sort of normality.

 

[AronSearle]

The answer is to stop big foreign businesses bleeding the country dry by taking money abroad and avoiding paying tax.

A few hundred million here and there by a handful of multinationals is not going to dent the 125 billion pound deficit, you should also know these companies are not "dodging" tax, but using the EUROPEAN tax system as IT WAS DESIGNED TO BE USED.

http://www.forbes.com/sites/timworstall/2012/04/05/amazons-tax-dodging-tricks-in-the-uk/

You guys should just look at the numbers, spend 694 vs tax of 569, that's 125 billion short.

The top 10% pay something like 40 billion in tax at 45-50%, you think taxing them at 55-60% is going to make any real dent in the deficit, no.

http://www.ukpublicspending.co.uk/year_spending_2012UKbt_12bc1n#ukgs302

growth and tightening up of tax might get you another 50 odd billion (we are already taxing more than most), no way out of it that doesn't involve large cuts.

 

[ntb]

Yep, what people think of as 'normal' was only possible because of a massive expansion of corporate, household and state debt. Credit spends just as well as cash until your card is declined and we've more or less hit that point across all three sectors.

The only way out is through higher interest rates, defaults, bankruptcies and repossesions to clear the system.

 

[Harbourwoodwork]

Yep, what people think of as 'normal' was only possible because of a massive expansion of corporate, household and state debt. Credit spends just as well as cash until your card is declined and we've more or less hit that point across all three sectors.

The only way out is through higher interest rates, defaults, bankruptcies and repossesions to clear the system.

what would you do with all homeless people,after repossesion

 

[chapeau]

Exactly the same as happens in most of the world. multiple generations sharing the same house and for the really hard up sharing the same room. When house prices drop far enough they will be able to afford to buy again, which would of course stuff the ones who kept their gaffs.

I wish it wasn't so. But do the sums as touched on above and there is no way out.

What will happen is eventually sterling will collapse and that will give us a chance. just don't expect to be able to afford anything that requires import.

People live like this all over the world. no reason why we should be any different.

 

[ntb]

what would you do with all homeless people,after repossesion

The sky didn't fall in last time. Admittedly it will be worse this time but the houses won't disappear, they'll just be worth less and owned by different people. They may well end up renting from the bank. Actually, thinking about it, if you have an interest only mortgage you already are renting from the bank!

 

[chapeau]

You are renting money from the bank even if you have a repayment mortgage, you just rent less of it every month until you owe them nothing. If you don't pay the rent on the amount borrowed the bank takes its house back. If you do pay it off only then does the bank lets you keep the house.

The thing about owning a house, from a financial point of view, is you only need to put down x% of the value of the house, yet you keep 100% of the gain. That makes people feel rich. Or you keep 100% of the loss............ But they said that would never happen --- didn;t they....

So it's incredibly leveraged. It's completely ludicrous that we are allowed to invest all our life savings to own 10% of an asset when the value of that asset can go down by 20%. But hey ho, people felt good, politicians got re-elected, and everybody spent like they were millionaires

 

[calorific]

Why don't you miserable doom mongers just fook off and die then?

 

[chapeau]

I like to think I'm being optimistic and looking on the bright side of life

I hadn't mentioned the riots had I ?