Forum Message

Topic: Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax
Posted by: Sam Hearn
Date/Time: 20/04/15 12:00:00

At the crux of Labour's financial mismanagement of the public finances is what is known as "running a structural budget deficit".

To try and explain this simply, almost all economists and central banker agree that in times of economic recession governments should spend more they receive in tax revenues - some of this happens "naturally" as benefits paid to the unemployed and the low paid increase.

However when the recession is past governments should aim for balanced budgets and even surpluses to repay the debts incurred in the bad times. This was the fiscal plan that Gordon Brown inherited and actually stuck to for two years.

However Gordon Brown, Canute like in his arrogance, came to believe that he had banished boom and bust and could keep on running deficits even when the economy was growing and the UK could actually have afforded to repay debt.

When the World economy hit the buffers in 2008 the UK Government was spending money like it was going out of style and there was a structural budget deficit.

Even worse, Gordon had promised to spend even more and by 2010 the situation was completely out of control - one in every four pounds that Government was spending was being borrowed. Yes its a good idea for Governments to run deficits during recessions but there are limits!

Budgetary control had completely broken down in some departments. in Defence for example spending commitments had been entered into that were 37bn greater than the Department's budget.

The World's number one super power (the USA) has nine aircraft carriers and Gordon thought that we should have two even though he had made no provision for the aircraft to sit on them. Just before he left office orders were placed for two aircraft carriers in Scottish Ship yards .....

Yes Labour did leave an economic mess and had no plans on how to resolve it other than wishful thinking.



Entire Thread
TopicDate PostedPosted By
Mansion Tax and Bedroom Tax19/04/15 08:51:00 Steve Taylor
   Re:Mansion Tax and Bedroom Tax19/04/15 09:10:00 Colin Jordan
      Re:Re:Mansion Tax and Bedroom Tax19/04/15 12:12:00 Stephen Gould
         Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 08:55:00 Anne England
         Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 12:53:00 Steve Taylor
   Re:Mansion Tax and Bedroom Tax19/04/15 09:10:00 Xanthe West
      Re:Re:Mansion Tax and Bedroom Tax19/04/15 12:21:00 Vanessa Smith
         Re:Re:Re:Mansion Tax and Bedroom Tax19/04/15 22:52:00 Joe Conneely
   Re:Mansion Tax and Bedroom Tax20/04/15 01:17:00 Peter Evans
      Re:Re:Mansion Tax and Bedroom Tax20/04/15 08:02:00 Colin Jordan
         Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 08:29:00 Joe Conneely
            Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 09:42:00 Brian Coyle
               Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 10:32:00 Anne England
                  Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 11:06:00 Brian Coyle
                     Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 11:07:00 Brian Coyle
                  Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 11:08:00 Joe Conneely
                     Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 11:49:00 Susan Kelly
                        Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 12:01:00 Joe Conneely
                        Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 13:04:00 Steve Taylor
                     Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 12:00:00 Sam Hearn
                        Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 12:10:00 Viv Griffiths
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 12:19:00 Brian Coyle
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 12:32:00 Sam Hearn
                              Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 17:27:00 David Fox
                                 Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 18:07:00 Richard Greenhough
                              Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 19:20:00 Susan Kelly
      Re:Re:Mansion Tax and Bedroom Tax20/04/15 12:44:00 Steve Taylor
         Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 13:39:00 Sam Hearn
            Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 13:55:00 Sam Hearn
               Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 14:20:00 Colin Jordan
                  Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 14:51:00 Peter Millman
                     Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 15:15:00 Sam Hearn
               Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 15:28:00 Joe Conneely
                  Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 15:33:00 Adrian Irving
                     Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 18:38:00 Joe Conneely
                        Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 19:25:00 Susan Kelly
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax20/04/15 19:43:00 Joe Conneely
                        Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax21/04/15 10:06:00 Adrian Irving
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax21/04/15 11:46:00 Joe Conneely
                              Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax21/04/15 12:35:00 Adrian Irving
            Re:Gordon Bean and the Milibeans20/04/15 15:42:00 Richard Greenhough
               Re:Re:Gordon Bean and the Milibeans20/04/15 16:28:00 Sam Hearn
                  Re:Re:Re:Gordon Bean and the Milibeans20/04/15 16:29:00 Sam Hearn
                     Re:Re:Re:Re:Gordon Bean and the Milibeans20/04/15 16:41:00 David Roberts
                  Re:Re:Re:Gordon Bean and the Milibeans20/04/15 16:52:00 Peter Millman
                     Re: Mansion Tax and Bedroom Tax20/04/15 19:34:00 Steve Taylor
                        Re:Re: Mansion Tax and Bedroom Tax20/04/15 19:55:00 Joe Conneely
                           Re:Re:Re: Mansion Tax and Bedroom Tax21/04/15 09:51:00 Sam Hearn
                              Re:Re:Re:Re: Mansion Tax and Bedroom Tax21/04/15 10:04:00 Vanessa Smith
                              Re:Re:Re:Re: Mansion Tax and Bedroom Tax21/04/15 10:06:00 Will Watson
                                 Re:Re:Re:Re:Re: Mansion Tax and Bedroom Tax21/04/15 13:02:00 Joe Conneely
   Re:Mansion Tax and Bedroom Tax28/04/15 23:32:00 Anne Black
      Re:Re:Mansion Tax and Bedroom Tax29/04/15 07:34:00 Will Watson
         Re:Re:Re:Mansion Tax and Bedroom Tax29/04/15 09:00:00 Joe Conneely

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