UK [to be] 'fastest-growing Western economy'

[WeX 10]

I am paying slighly more, what don't you understand?

 

What I don't understand is how you can be paying more tax if your situation is the same as when Labour were in power. The only way you can be paying more is if you earn more in cash terms or perks. But to accept that you would have to also accept you are doing better than under Labour and that would stick in your throat so much you would tell anyone anyway.

 

You have been caught out again it would seem.

 

---------- Post added 09-11-2013 at 12:47 ----------

 

People don't understand why you are paying more. Either you have had an adjustment of your coding notice, or you earn way way more then you have previously indicated. The personal allowance has been rising fast in the last few years and the vast majority of people are paying less income and NI.

 

Mecky is caught in his own lie. To accept he is paying more tax would have to accept he was being paid more or is receiving perks that were not being received when Labour were in power.

 

So he is either lying about his earnings or is lying that he is paying more tax.

[Uptowngirl 10]

There would never be any cash available, not with a Tory government and not with a Labour government. For the vast majority of the last few decades we've run deficits.

 

We would never have had hundreds of billions of surplus cash just sitting there waiting for a massive event like that. And if we had that surplus taxpayers would have been irate anyway.

 

I understand the need for the cuts. All parties understood what was needed. And they were all promising to make them, only differing on timescales.

 

Of course they have run deficits, but it is a matter of scale. Between 1997 and 2002 Labour kept to the Tory spending limits. It didn't go down well with their grass roots support. After 2002 they cut loose spending massively over and above what was the norm for the last 20 years. The public sector expanded by 1 million. There is absolutely no way that would have happened under the Tories.

 

Do you know the employment costs of 1 million extra public sector workers?

[Anna Glypta 10]

We're having to make cuts because we're picking up the tab for the banks' almost crashing a fair proportion of the global economy.

 

If you look back at government borrowing before the crisis you will see that it was high but not particularly high.

 

It was not government borrowing or high levels of government spending that caused the crisis. If you think was did please explain exactly how.

 

It was government borrowing and excessive spending that caused the debt to get out of control. You don't build up debt without spending more than you have.

 

Many banks around the world got into a financial mess. Others didn't. The problem in the UK is down to lack of regulation. Gordon Brown (Mr No More BOOM & BUST) set up the FSA in 1997 to regulate the country's financial institutions "WITH A LIGHT TOUCH". It wasn't a great plan.

However only a few financial institutions needed bailing out. Not the £trillion of debt we have now. And the financial institutions aren't responsible for the deficit that we still have today. That can be laid at the feet of Brown & Darling for setting spending levels based on projected growth in tax revenues that just weren't realistic or achievable.

 

Brown never listened to folk who told him a crisis was coming because he believed his own bullship about abolishing Boom & Bust.

Edited November 9, 2013 by Anna Glypta

[Mecky 10]

It was government borrowing and excessive spending that caused the debt to get out of control. You don't build up debt without spending more than you have.

 

Many banks around the world got into a financial mess. Others didn't. The problem in the UK is down to lack of regulation. Gordon Brown (Mr No More BOOM & BUST) set up the FSA in 1997 to regulate the country's financial institutions "WITH A LIGHT TOUCH". It wasn't a great plan.

However only a few financial institutions needed bailing out. Not the £trillion of debt we have now. And the financial institutions aren't responsible for the deficit that we still have today. That can be laid at the feet of Brown & Darling for setting spending levels based on projected growth in tax revenues that just weren't realistic or achievable.

 

Brown never listened to folk who told him a crisis was coming because he believed his own bullship about abolishing Boom & Bust.

 

Just tell us all who it was who deregulated the banks in the first place

[Peer Gynt 10]

Just tell us all who it was who deregulated the banks in the first place

 

We all already know, it was the bone idle British worker.

[tinfoilhat 11]

Just tell us all who it was who deregulated the banks in the first place

 

Was 13 years not long enough to regulate them? Or perhaps when he had the banks begging for billions? Was that not the right time?

[Peer Gynt 10]

How can you have a mega rich labour prime minister who's married to a QC.

What did he know about the life of working class people?

[Mecky 10]

Was 13 years not long enough to regulate them? Or perhaps when he had the banks begging for billions? Was that not the right time?

 

Yeah but who deregulated them in the first place and had 17 years to put it straight? Who said they are going to do something now to appease public opinion but in reality are doing nothing, or at least very little, just hoping it will all blow over?

[I1L2T3 10]

Of course they have run deficits, but it is a matter of scale. Between 1997 and 2002 Labour kept to the Tory spending limits. It didn't go down well with their grass roots support. After 2002 they cut loose spending massively over and above what was the norm for the last 20 years. The public sector expanded by 1 million. There is absolutely no way that would have happened under the Tories.

 

Do you know the employment costs of 1 million extra public sector workers?

 

You can look up the figures yourself and you will see that spending was not particularly excessive. Spending did not cause the crisis.

 

---------- Post added 09-11-2013 at 20:58 ----------

 

It was government borrowing and excessive spending that caused the debt to get out of control. You don't build up debt without spending more than you have.

 

Many banks around the world got into a financial mess. Others didn't. The problem in the UK is down to lack of regulation. Gordon Brown (Mr No More BOOM & BUST) set up the FSA in 1997 to regulate the country's financial institutions "WITH A LIGHT TOUCH". It wasn't a great plan.

However only a few financial institutions needed bailing out. Not the £trillion of debt we have now. And the financial institutions aren't responsible for the deficit that we still have today. That can be laid at the feet of Brown & Darling for setting spending levels based on projected growth in tax revenues that just weren't realistic or achievable.

 

Brown never listened to folk who told him a crisis was coming because he believed his own bullship about abolishing Boom & Bust.

 

Government spending needs to be brought back under control for sure. The following site shows an excellent graph. Take a look at the Tory years. Take a look at the Labour years. Deficit nearly all of the time. Deficit is a problem all parties fail to tackle consistently.

 

http://www.debtbombshell.com/britains-budget-deficit.htm

 

Take a look at 2008 and after and the rapid increase in deficit. That was caused by the crisis.

 

---------- Post added 09-11-2013 at 21:00 ----------

 

Was 13 years not long enough to regulate them? Or perhaps when he had the banks begging for billions? Was that not the right time?

 

It should have been plenty of time to stop what Thatcher had started. Labour had no interest in reversing it. They accelerated the process if anything. Shameful.

[Hillpig 10]

I think the Bankers earn every penny, my portfolio is managed by Coutts, they are very nice.

[I1L2T3 10]

I think the Bankers earn every penny, my portfolio is managed by Coutts, they are very nice.

 

You need to get better at spelling swear words.

Edited November 10, 2013 by I1L2T3

[Obelix 11]

Just tell us all who it was who deregulated the banks in the first place

 

Could you tell us why you are paying more tax first please? Let's not have you deflect this question eh?