VAT will be 20% within a few weeks

[JohnD]

This years deficit will be £164 billion. We already owe nearly £900 billion. Our yearly interest is £40 billion.

We need cuts/tax rises of around £300 billion per year

Not sure I follow your arithmetic.

If (as you say) this year's deficit will be £164b, we need a total of spending cuts + extra taxes of £164b to stop it getting worse.

If as you say our total debt is £900b, why do we need £300b per year? Are you expecting the total debt to be cleared in 3 years, or in 7? would you expect taxes to go down a lot after that?

 

[JohnD]

??

You say that the IMF proposes the UK should start charging VAT on food and childrens clothes.

Have you evidence to support what you say?

 

[ajstoneservices]

??

You say that the IMF proposes the UK should start charging VAT on food and childrens clothes.

Have you evidence to support what you say?

I'm going to do a you John.

Have you any evidence to say they haven't?

 

[corgiman]

blimey that doesnt work really, you put forward the proposition that the IMF HAVE said this , so its up to you to substantiate it

it would take johnd years to troll through everything that the iMF have said over the years to prove they Have not said something

sorry fella but that is a ridiculous thing to say.

 

[ajstoneservices]

Isn't that the way johnd normally does it start an argument with something he knows he can prove or disprove.

He could easily find find that the IMF have said that the UK should raise the VAT rate and impose it on food etc. Perhaps the source is not good enough for him.

http://www.ft.com/cms/s/0/d03e8166-5fb9-11df-a670-00144feab49a.html

You may have seen that DC did not rule it out on the Andrew Marr show this morning.

 

[joe-90]

This years deficit will be £164 billion. We already owe nearly £900 billion. Our yearly interest is £40 billion.

We need cuts/tax rises of around £300 billion per year

Not sure I follow your arithmetic.

If (as you say) this year's deficit will be £164b, we need a total of spending cuts + extra taxes of £164b to stop it getting worse.

If as you say our total debt is £900b, why do we need £300b per year? Are you expecting the total debt to be cleared in 3 years, or in 7? would you expect taxes to go down a lot after that?

I'm thinking.£164b deficit + £40b interest. That's £200b so to reduce the deficit by £100b per year we'd have to earn £300b. Either way there's not a hope in hell's chance we can even cut out the £164b per year when increasing VAT only generates a measly £14b. How do we cut out £164billion?

 

[joe-90]

it would take johnd years to troll through everything

Oh he's a troll is he? I should have guessed.

 

[Lincsbodger]

it would take johnd years to troll through everything

Oh he's a troll is he? I should have guessed.

its when he starts arguing with Joe-90, the irresistible force versus the immovable object............