The all encompassing BNP thread - keep all crap in here.

dirtydog said:
Let's see how the Tories do next year :)
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Or hopefully later this year if the Euro election results are that bad...

To be honest the first term of the next government is going to be unpopular regardless of who is in power because taxes are going to have to rise and spending is going to have to be cut.
 
dirtydog said:
The latter - their election victory is assured.

Sounds like you are getting your excuses in early? ;)
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Not really, the economy doesn't get reset when the government changes, so the problems that Labour have caused will be there for the next government to deal with. That is going to mean hard choices (Likely massive spending cuts and probably tax raises) in the short term in order to sort out the economic mess. That will probably make whoever is in office very unpopular (much as Thatcher sorting out the sick man of europe syndrome did), but it has to be done and I'm expecting it.
 
dirtydog said:
No chance. Even if Brown is replaced as PM, there is no reason for Labour to call an election until next summer.
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If they replace Brown as PM I would expect an election in October. The new leader will want to capitalise on any honeymoon period. Lets be honest it isn't a question of "Will we get re-elected with a new leader?" but more "Will we lose as badly with a new leader?"
 
Actually, if you read the IMF report itself, it quite clearly states:

In conclusion, with continued effective handling of problems in the financial sector and a firm commitment to the existing policy objectives of price stability and fiscal sustainability, in line with our advice, we expect the authorities to deliver domestic and external stability and set the stage for a sustainable recovery.
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Yep. Totally unaffordable....just look at that criticism.

http://www.imf.org/external/np/ms/2009/052009a.htm
 
dirtydog said:
Like the recession now then?
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I would say they could be compared, yes.

Take the reckless borrowing of Gordon Brown as Chancellor and his puppet replacement out of that equation first though.

Borrowing more in a space of three years than all previous governments in the last 400 years really takes some beating.
 
Von Smallhausen said:
I would say they could be compared, yes.

Take the reckless borrowing of Gordon Brown as Chancellor and his puppet replacement out of that equation first though.

Borrowing more in a space of three years than all previous governments in the last 400 years really takes some beating.
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Were any of those previous governments faced with such a banking crisis as we have experienced?

If we have 'borrowed' x billion to buy assets which we can later sell for the same amount or at a profit, is it so bad? And what would have happened if we hadn't bailed out the banks? I don't think any government of any persuasion would have had any alternative. I do think Brown's response was imaginative and has been copied by other governments which says to me he can't be quite the moron people here paint him as.
 
Monkey Puzzle said:
Why'd he think a Nazi victory would have been better?
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He believed first of all that America had betrayed us after the war in pulling the financial plug that would have caused this countries utter ruin had it not been for a ridiculously harsh loan with terms that where not just financial, the ending of the naval tradition of having more ships than our closest rival is a good example. They took the oppurtunity to imasculate this country knowing full well we had no real choice.His main concern though was the feeling that everything he fought for and that his friends died for has been sold off or given up without a shot fired! his words.
 
dirtydog said:
Were any of those previous governments faced with such a banking crisis as we have experienced?

If we have 'borrowed' x billion to buy assets which we can later sell for the same amount or at a profit, is it so bad? And what would have happened if we hadn't bailed out the banks? I don't think any government of any persuasion would have had any alternative. I do think Brown's response was imaginative and has been copied by other governments which says to me he can't be quite the moron people here paint him as.
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Like I said, the problem isn't his actions faced with the recession, but the actions before it, sustaining recession level borrowing through a boom was Brown's big mistake, and it is that aspect that has made the impact of the recession borrowing so large. Brown was borrowing as much in 2002-2003 as the tories were borrowing to deal with the last recession.

His tax, borrow and spend polices are the problem, not specifically the response to the recession.
 
dirtydog said:
Were any of those previous governments faced with such a banking crisis as we have experienced?

If we have 'borrowed' x billion to buy assets which we can later sell for the same amount or at a profit, is it so bad? And what would have happened if we hadn't bailed out the banks? I don't think any government of any persuasion would have had any alternative. I do think Brown's response was imaginative and has been copied by other governments which says to me he can't be quite the moron people here paint him as.
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It goes beyond just the banking crisis dd. He borrowed on a huge scale before the downturn slammed into gear.

He sold a portion of Britain's gold reserves at rock bottom prices during a time of economic properity. Did he reduce national debt with it ? No. He ploughed it into unreformed public services and swelling the public sector.

The Treasury received over £20 billion from mobile companies for the 3G licence. See above.

As for his imaginative response was it not the German finance minister, who runs the biggest economy in Europe, that shot down his plans a few months ago ?

We have seen the Labour Government continually swell and concentrate on the public sector, all costing taxpayers hard earned, at the expense of the private sector and you cannot keep doing that. Only the private sector generates economic prosperity.
 
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And even worse, he is planning to up spending everywhere according to his deranged rantings to the party faithful this afternoon!

How is he going to do this? does he just not realise that you cant keep spending more than you earn?
 
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