Tax cuts for the rich, hurrah!

[fillyboy]

The budget that's been announced appear to counteract what the bank of England are trying to do to get inflation under control.

It seems to be a budget not well thought out, almost as if the advisers were ignored a d forced out..

If it were thought out, or executed to historical norms, it would simply involve raising interest rates, cut spending. raise taxes and batten down the hatches for 3 years of recession. For most of us, well, me anyway, it's not the end of the world, I can survive that. For many, it will involve losing their house, their livelihoods and in many cases their lives.

As I said before, it's a gamble, s**t or bust, it either works or it doesn't. I hope it works, if it doesn't,, JohnD's lot will get in, the poor will become rich and rich will be strung up from lamp posts, all will be well in the world.

 

[Notch7]

The budget that's been announced appear to counteract what the bank of England are trying to do to get inflation under control

Certainly lots of economists are reporting exactly this.

There is a high risk of significant base rate rises, that would increase mortgages. That could be worse than the energy crisis.

 

[fillyboy]

Certainly lots of economists are reporting exactly this.

There is a high risk of significant base rate rises, that would increase mortgages. That could be worse than the energy crisis.

5% interest rates have long been considered 'comfortable' and 'normal'. I can certainly remember 10% as being the norm (15% one particular afternoon aside).

Aside from from 'foaming at the mouth' left wing lunatics like Notch, and 'hang the rich' JohnD, who in their right mind considers 0% or even -0.5% interest rates as sustainable, or even believable for that matter. These were desperate measures to bring back growth after the 'financial crash', did it work?

 

[JohnD]

rich will be strung up from lamp posts.

What utter nonsense

It is almost surprising that there are people stupid enough to spout this rubbish

 

[fillyboy]

What utter nonsense

It is almost surprising that there are people stupid enough to spout this rubbish

It's even more surprising that in this day and age there are stupid Marxists like yourself spouting 'hang the rich' nonsense.

 

[JP_]

This has amazed me. Give to the rich and they will save it have foreign holidays and foreign investment. Give the the less we'll off and the pensioners and they will spend creating a money go round.

I do understand the theory of attracting wealth but I can't see it trickling down enough to improve the lives of the poorer paid.

It's crap .... Liz is going to lose me if this don't work.

The only trickling down will experience is that warm feeling of be ****ed all over

 

[Bosswhite]

I dont understand " Trickling Down" the rich arent going to give away their wealth to the poor .

 

[JP_]

I dont understand " Trickling Down" the rich arent going to give away their wealth to the poor .

It hasn't happened yet. It took centuries to get a minimum wage and workers rights, they won't be giving anything away. All investment will 'Trickle down' into carefully selected businesses,ie, they tax us to invest their own businesses.

Well done if you're rich. The rest of us are totally screwed.

 

[Mottie]

Certainly lots of economists on here are reporting exactly this.

Corrected that for you.

 

[Notch7]

5% interest rates have long been considered 'comfortable' and 'normal'. I can certainly remember 10% as being the norm (15% one particular afternoon aside).

Aside from from 'foaming at the mouth' left wing lunatics like Notch, and 'hang the rich' JohnD, who in their right mind considers 0% or even -0.5% interest rates as sustainable, or even believable for that matter. These were desperate measures to bring back growth after the 'financial crash', did it work?

Filly, please tell me if you think people can afford a £400 to £800 increase in their monthly mortgage payment.

 

[Notch7]

Corrected that for you.

WRONG

I heard numerous economists stating it.

 

[noseall]

It's even more surprising that in this day and age there are stupid Marxists like yourself spouting 'hang the rich' nonsense.

Is it really Marxism not to want the rich to get even richer?

 

[Notch7]

It's even more surprising that in this day and age there are stupid Marxists like yourself spouting 'hang the rich' nonsense.

The UK has amongst the worst rates of inequality in the world.

Wanting a fairer distribution of wealth is most certainly not not nonsense.

 

[IT Minion]

5% interest rates have long been considered 'comfortable' and 'normal'. I can certainly remember 10% as being the norm (15% one particular afternoon aside).

Aside from from 'foaming at the mouth' left wing lunatics like Notch, and 'hang the rich' JohnD, who in their right mind considers 0% or even -0.5% interest rates as sustainable, or even believable for that matter. These were desperate measures to bring back growth after the 'financial crash', did it work?

Back then the amount that people had borrowed was so much less. If you compare the actual proportion of people's income to the amount needed to service mortgage debt then it comes out very differently

https://twitter.com/x/status/1572975559449407489

 

[Mottie]

Filly, please tell me if you think people can afford a £400 to £800 increase in their monthly mortgage payment.

When we got a mortgage and bought our house, one of the first things we took into consideration was 'we can afford this now, but could we afford this if rates went up'. If we couldn’t have, we wouldn’t have maxed out on the amount we could afford at the time and looked for a cheaper property. Perhaps people should try that when they are borrowing money? Perhaps people could also think of buying outright just the one old car to share between them instead of one each on lease, one modest holiday a year, not going out on the lash a couple of times a week, knocking the takeaways on the head, going without their morning coffee on the way to work and a shop bought lunch, not upgrading to the latest iPhone contract, doing without that Sky/Netflix/Prime/Disney/Britbox and Gym membership but nah, they won’t, they’ll blame others for the financial mess they get into.