OBR put the (deserved) boot into Cameron.
Discussion
johnfm said:
The answer to growth and deficit reduction isn't ever 'simple', or they would have done it by now...
..but part of it involves cutting taxes for low income earners. Their spending drives an economy.
Put cash in the pockets of those who spend it.
Im hardly qualified to argue in any of these threads. This however is how i've always thought things should be, now interest levels are low, cutting tax on those who earn little but still work rather than scrounge would see them pay off their debts and then become big spenders. Me and my brother have both said that if we had 20-40 pounds a week more money we'd quite happily be buying stupid clothes we dont need, bits and bobs for our push bikes, games and all the other things that are taken up by the food budget and our tax contribution...but part of it involves cutting taxes for low income earners. Their spending drives an economy.
Put cash in the pockets of those who spend it.
Caulkhead said:
I ask again, what is your favoured alternative to the current plan?
Well part of 'Plan A' was QE'ing £375 billion (ish) to kick start things.The problem is the Government gave it to the banks (who let's face it directly or indirectly caused this mess) on low rates on the basis they would loan it out to the SME/economy.
Instead the banks have sat on the money to accord to the new 'rules' imposed by the Government.
So say 'we' QE something meagre in comparison like £60 billion, bypass the banks and disseminate it directly into the economy via whatever means.
How's that for an alternative plan?
jules_s said:
Caulkhead said:
I ask again, what is your favoured alternative to the current plan?
Well part of 'Plan A' was QE'ing £375 billion (ish) to kick start things.The problem is the Government gave it to the banks (who let's face it directly or indirectly caused this mess) on low rates on the basis they would loan it out to the SME/economy.
Instead the banks have sat on the money to accord to the new 'rules' imposed by the Government.
So say 'we' QE something meagre in comparison like £60 billion, bypass the banks and disseminate it directly into the economy via whatever means.
How's that for an alternative plan?
Caulkhead said:
I ask again, what is your favoured alternative to the current plan?
The point of the thread was to highlight the fact the PM had MarshPhantom said:
Caulkhead said:
I ask again, what is your favoured alternative to the current plan?
The point of the thread was to highlight the fact the PM had jules_s said:
Caulkhead said:
I ask again, what is your favoured alternative to the current plan?
Well part of 'Plan A' was QE'ing £375 billion (ish) to kick start things.The problem is the Government gave it to the banks (who let's face it directly or indirectly caused this mess) on low rates on the basis they would loan it out to the SME/economy.
Instead the banks have sat on the money to accord to the new 'rules' imposed by the Government.
So say 'we' QE something meagre in comparison like £60 billion, bypass the banks and disseminate it directly into the economy via whatever means.
How's that for an alternative plan?
Caulkhead said:
MarshPhantom said:
Caulkhead said:
I ask again, what is your favoured alternative to the current plan?
The point of the thread was to highlight the fact the PM had MarshPhantom said:
Caulkhead said:
MarshPhantom said:
Caulkhead said:
I ask again, what is your favoured alternative to the current plan?
The point of the thread was to highlight the fact the PM had "Everybody knows that, on any level, the Tories economic plan isn't working."
As it's so obvious to you, I just wondered if you had a alternative plan. Apparently you don't so I guess we're all stuck with the current one.
jules_s said:
So say 'we' QE something meagre in comparison like £60 billion, bypass the banks and disseminate it directly into the economy via whatever means.
How's that for an alternative plan?
That's something Steve Keen talks about quite a lot. Give every adult member of the population £x and attach the condition that if you have debt it must be paid down, if not you can spend as you wish. Interesting idea.How's that for an alternative plan?
Discusses it 13 minutes into this :-
http://www.youtube.com/watch?v=rGkmgnprrIU
Other ideas I've heard floated are money issuance with an expiry date to encourage spending and parallel local currencies. Personal thought is a lot of this stuff is going to start to evolve out of the system anyway, possibly through things like local currencies and phones apps. Airtime as currency would be an example. A currency is simply something two people agree on as an exchange of value, so in theory doesn't need the banks involved.
hornet said:
jules_s said:
So say 'we' QE something meagre in comparison like £60 billion, bypass the banks and disseminate it directly into the economy via whatever means.
How's that for an alternative plan?
That's something Steve Keen talks about quite a lot. Give every adult member of the population £x and attach the condition that if you have debt it must be paid down, if not you can spend as you wish. Interesting idea.How's that for an alternative plan?
Discusses it 13 minutes into this :-
http://www.youtube.com/watch?v=rGkmgnprrIU
Other ideas I've heard floated are money issuance with an expiry date to encourage spending and parallel local currencies. Personal thought is a lot of this stuff is going to start to evolve out of the system anyway, possibly through things like local currencies and phones apps. Airtime as currency would be an example. A currency is simply something two people agree on as an exchange of value, so in theory doesn't need the banks involved.
Mobile Chicane said:
Agreed.
India has a space programme, and economic growth which at 6.5% (or thereabouts) far outstrips ours.
Why in the name of buggery f
k is the UK giving countries such as this aid when we have issues of our own enough to resolve.
I don't think the money goes into the Indian government account. Think it's primarily only fir British business to build/pocket/waste as they like in said countries India has a space programme, and economic growth which at 6.5% (or thereabouts) far outstrips ours.
Why in the name of buggery f
k is the UK giving countries such as this aid when we have issues of our own enough to resolve.jules_s said:
Well part of 'Plan A' was QE'ing £375 billion (ish) to kick start things.
The problem is the Government gave it to the banks (who let's face it directly or indirectly caused this mess) on low rates on the basis they would loan it out to the SME/economy.
Ah, I see, QE was money given to the banks??The problem is the Government gave it to the banks (who let's face it directly or indirectly caused this mess) on low rates on the basis they would loan it out to the SME/economy.
And there was me thinking that QE involved buying assets (i.e. government bonds) from their owners (i.e. banks, insurance companies, pension funds, asset managers) etc.
??
Edited by sidicks on Sunday 10th March 21:14
Giving people money wont necessarily work; they will invariably spend it on the usual creature comforts which won't help 'our' economy.
What needs to be done (IMO - and it does directly involve me lol) is investment in this country that will have a lasting legacy. Spend some money now, so we won't need to later.
Build some offices so Councils don't rent them. Build and repair our bloody roads. Sort out the flood defences. Fix the broken sewers. Invest some money in the leaky water supply network. The list is almost endless.
Quite simply, fix everything we can that's broken so we don't need to in the medium/long term. So when the economy does recover we won't be spending shedloads because this Government has let our assets fall into decline.
All of the above could (and should) be carried out by UK businesses. UK workers working for the UK. Government money gets spent on things we need, and the workers end up with more money to spend on what they want to.
Makes sense to me, until you realise it's what Labout did in their last term. And that's why the blue side are reluctant to entertain the idea IMO
What needs to be done (IMO - and it does directly involve me lol) is investment in this country that will have a lasting legacy. Spend some money now, so we won't need to later.
Build some offices so Councils don't rent them. Build and repair our bloody roads. Sort out the flood defences. Fix the broken sewers. Invest some money in the leaky water supply network. The list is almost endless.
Quite simply, fix everything we can that's broken so we don't need to in the medium/long term. So when the economy does recover we won't be spending shedloads because this Government has let our assets fall into decline.
All of the above could (and should) be carried out by UK businesses. UK workers working for the UK. Government money gets spent on things we need, and the workers end up with more money to spend on what they want to.
Makes sense to me, until you realise it's what Labout did in their last term. And that's why the blue side are reluctant to entertain the idea IMO
sidicks said:
Ah, I see, QE was money given to the banks??
And there was me thinking that QE involved buying assets (i.e. government bonds) from their owners (i.e. banks, insurance companies, pension funds, asset managers) etc.
??
I didn't mean 'give' in the literal sense, more like used them as a preferred conduit to disseminate the £££ as opposed to another option.And there was me thinking that QE involved buying assets (i.e. government bonds) from their owners (i.e. banks, insurance companies, pension funds, asset managers) etc.
??
Edited by sidicks on Sunday 10th March 21:14
TankRizzo said:
good40 said:
What an utterly childish comeback!
No, he's absolutely right. OP is yet another of these tiresome slogan-shouters who have no realistic suggestions on how to fix things.MarshPhantom clearly doesn't know his place.
TankRizzo said:
good40 said:
What an utterly childish comeback!
No, he's absolutely right. OP is yet another of these tiresome slogan-shouters who have no realistic suggestions on how to fix things.MarshPhantom said:
TankRizzo said:
good40 said:
What an utterly childish comeback!
No, he's absolutely right. OP is yet another of these tiresome slogan-shouters who have no realistic suggestions on how to fix things.ETA: OP do you know what makes up the GDP (growth) calculation?
Edited by London424 on Monday 11th March 14:41
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