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Old November 23rd, 2017, 12:18 PM   #15241
DaeguDuke
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No, not really higher borrowing, there are some small increases in spending but the overall borrowing is due to be the same as in March. In March and November this year there were cuts to income tax (by increasing the allowances), with higher rate tax payers set to be significantly better off. There were moves in March to abolish inheritance tax, which have not been reversed.

I'm glad there have been moves on NHS funding, and on house building, but many people have already pointed out that much of the ~£10bn in extra "spending" over the next financial year will be in the form of loans to builders, loans for early payments for those on UC.

Labour, the LibDems, SNP and Greens have been calling for an end to austerity, we certainly did not see public workers get a pay increase of even inflation, so all our doctors and nurses, firefighters and police, will be in line for real terms pay falls again. Minimum wage increase is a small step in the right direction, but still less than what we've had in Scotland for a while through Holyrood's initiative.

I did see a few middle class giveaways - help to buy for rich kids. Amazing how we can find billions for that, £200m for electric car charging points, but £200mill for 3rd children is impossible.

The big story with this budget is the growth figures, at the rates the OBR is forecasting we could drop from 6th to 7th largest economy by 2022, and the wage squeeze is now predicted to be even worse than the recession. Stumbling along at ~1.4% growth whilst Eurozone is steaming along at twice that..

I presume you agree exactly with this Tory budget? Or do you think we need further austerity and we shouldn't be spending more money on any public services?
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Old November 23rd, 2017, 11:19 PM   #15242
anonymous_redrum
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'Holding pattern'?

You don't really need to say much when you get this from the IFS and OBR:

Quote:
Budget 2017: Stagnant earnings forecast 'astonishing'
http://www.bbc.co.uk/news/business-42096806
Quote:
The darkening view of UK economic prospects from the OBR
https://www.ft.com/content/e0ae58a6-...b-291a884dd8c6
European agencies already moving out of London, UK European City of Culture bids cancelled, nobody fooled by the '£2 billion to Scotland(actually a cut in real terms)' and this is all before Brexit!

We don't need to do(say) much actually, just sit back and watch the Tories burn the country to the ground.

Last edited by anonymous_redrum; Yesterday at 06:21 AM.
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Old Yesterday, 02:12 PM   #15243
dadabouttown
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Quote:
Originally Posted by DaeguDuke View Post
No, not really higher borrowing, there are some small increases in spending but the overall borrowing is due to be the same as in March. In March and November this year there were cuts to income tax (by increasing the allowances), with higher rate tax payers set to be significantly better off. There were moves in March to abolish inheritance tax, which have not been reversed.

I'm glad there have been moves on NHS funding, and on house building, but many people have already pointed out that much of the ~£10bn in extra "spending" over the next financial year will be in the form of loans to builders, loans for early payments for those on UC.

Labour, the LibDems, SNP and Greens have been calling for an end to austerity, we certainly did not see public workers get a pay increase of even inflation, so all our doctors and nurses, firefighters and police, will be in line for real terms pay falls again. Minimum wage increase is a small step in the right direction, but still less than what we've had in Scotland for a while through Holyrood's initiative.

I did see a few middle class giveaways - help to buy for rich kids. Amazing how we can find billions for that, £200m for electric car charging points, but £200mill for 3rd children is impossible.

The big story with this budget is the growth figures, at the rates the OBR is forecasting we could drop from 6th to 7th largest economy by 2022, and the wage squeeze is now predicted to be even worse than the recession. Stumbling along at ~1.4% growth whilst Eurozone is steaming along at twice that..

I presume you agree exactly with this Tory budget? Or do you think we need further austerity and we shouldn't be spending more money on any public services?
Quote:
http://www.bbc.co.uk/news/business-42087215

Budget 2017: Hammond loosens his belt
...Second, he has significantly loosened the fiscal tight belt he had thrown around the economy.
In March, Mr Hammond planned for two years of higher spending - giveaways - followed by three years of tax rises - takeaways.
Now he has said that borrowing will be higher for every year of the five-year forecast, and higher spending will last until 2023.
Many economists will welcome such a move, the government doing more to stimulate the economy.
So in essence, your prediction for this budget...

Quote:
My prediction for the budget today - tax cuts which in a few months will be "impossible" to reverse because taxing people and companies the same as they are taxed now in mere months will lead to Armageddon.
....was wrong.

You're also citing 'past' tax changes to back up your prediction about 'this' budget.

I'm sure I would find lots to potentially disagree with in the budget were I to go through it item by item and immerse myself in even a fraction of the detail that Hammond, the opposition and think tanks do. That's 101 different arguments I'm not getting into.

I was getting into you arguing with things that haven't happened - and now see you shifting the point into generalised anti-ness as always.

Were these Scotgov loosenings of the belt, you'd be bigging it up as showing what a progressive government can do given tight economic and spending constraints.

Spending decisions are tough. For example, NHS spending is a raging bull that no party really knows how to tame and so the buck gets bigger as it gets passed down the line. At some point in the future I suspect some party will bite the bullet and something radical like means tested fees and a much tougher love approach to prevention of obesity/smoking/drinking will maybe creep onto the agenda. In the meantime, it's easier to pretend, find a few billion now and then and pass the buck to the next administration.
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Old Yesterday, 05:44 PM   #15244
DaeguDuke
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Income tax bands were cut, for a second time this year. That isn’t a tax cut?
Then you’re complain about the fact that a larger, aging population requires more in healthcare - shocker!
You must be boring even yourself at this point
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