Virgos Groove Posted September 21 Posted September 21 (edited) Quote The scale of the challenge facing Rachel Reeves ahead of the autumn budget has been laid bare by a rise in Britain's national debt to the highest levels since the 1960s and a collapse in consumer confidence. Figures from the Office for National Statistics (ONS) showed the government's outstanding debt pile reached 100% of gross domestic product in August, the highest level since 1961, as monthly borrowing rose by more than expected. The Guardian Edited September 21 by Virgos Groove
nathanspears Posted September 21 Posted September 21 The country is actually broken. Nothing works and everything is really expensive. 1
Marianah Adkins Posted September 21 Posted September 21 Austerity is supposed to be temporary (to supposedly calm down the market per se). I dont understand why these governments keep pursuing this failed policy when it has proven to be electorally unpopular and economically disastrous 2 1
Vermouth Posted September 21 Posted September 21 58 minutes ago, Marianah Adkins said: Austerity is supposed to be temporary (to supposedly calm down the market per se). I dont understand why these governments keep pursuing this failed policy when it has proven to be electorally unpopular and economically disastrous Thing is though Liz Truss' ( god help us) mini budget (or fiscal event) showed the bond market can and will destroy you within days if they take against your policies whatever they are. Hence mortgages went from 1-2% to 5% plus in no time at all. I seriously doubt Ms R Reeves wants to go anywhere near that scenario or the new Govt will be on the rocks before it's even started.
Cheers Posted September 21 Posted September 21 Are we about to have a wave of British migrating to America?
Vermouth Posted September 21 Posted September 21 1 minute ago, Cheers said: Are we about to have a wave of British migrating to America? No. Too many guns, too little health care, too few holidays, weird ages at which your allowed to do things. 1 1
Cheers Posted September 21 Posted September 21 1 minute ago, Vermouth said: No. Too many guns, too little health care, too few holidays, weird ages at which your allowed to do things. Phew! Thank God 6
glitch Posted September 21 Posted September 21 But Keith, Angie and Rachel will start buying their own clothes starting tomorrow, so all is good! 1
Bosque Posted September 21 Posted September 21 What does this have to do with austerity? British debt has increased every year for at least 20 years. That is the opposite of austerity UK has been financing public spending with debt hand over first like most countries since the Great Recession
A.R.L Posted September 22 Posted September 22 (edited) 16 hours ago, Cheers said: Phew! Thank God This is funny and true but also not before you control your borders from the south and gun laws too Edited September 22 by A.R.L
John Slayne Posted September 22 Posted September 22 the way Tories and now Labour are just actively trying to smother the economy.
gab00 Posted September 22 Posted September 22 22 hours ago, Bosque said: What does this have to do with austerity? British debt has increased every year for at least 20 years. That is the opposite of austerity UK has been financing public spending with debt hand over first like most countries since the Great Recession Yes and debt is rising everywhere else too. But I suppose theres an irony on the fact previous governments cut spending on social services and investement in the name of fiscal responsabity-healthy economics. And at the end the country ended up without it all. I feel for the UK really. Brexit+COVID+war in Ukraine coming altogether was too much. if I was brit the first thing I'd demand my leaders is to settle down any trade friction with the EU-reach whatever agreement needed with them. It's been back and forth for too long and all that uncertainty has hurt your country.. 1
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