The Budget 2013 - 12:30

[aardvark]

The Bank of England is buying up Gilts, on which the government pays no coupons; these gilts are not sold on the secondary market (as it would widen the deficit).

Pension funds, which have had a torrid decade, rely on bond portfolios to provide income streams - specifically Gilts and Index Linked Gilts as they are low risk (and trustees are obliged to use low risk instruments) and provide an element of income protection against inflation (as the index link is RPI).

Essentially, by manipulating the gilt market to the point where yields have been negative, they are raping and pillaging the retirements of millions of people in the name of unfunded government expenditure. We're all living longer, not saving enough and heading for a heavily skewed aged population. Add it all up and it doesn't take a CFA to realise we're heading for trouble.

One of the guys who runs a load of our mutual funds was chatting with me about it a couple of weeks ago. It's frightening - and it's not conspiracy whackjob stuff either; simple market economics.

its so obvious its frightening - the country is sooo screwed.

 

[Cosimo]

Millie not sounding very convincing.

 

[[TW]Fox]

Millie not sounding very convincing.

He never does. Perhaps the least credible leader of the opposition in a generation.

 

[aardvark]

It's for everyone.

Surely it's going to increase house prices by raising demand?

really annoyed about this - using tax payers money to back an already over inflated housing market - shameful.

 

[StriderX]

He never does. Perhaps the least credible leader of the opposition in a generation.

Perhaps ever?

 

[Maccapacca]

really annoyed about this - using tax payers money to back an already over inflated housing market - shameful.

Yeah, house prices go up, I remortgage and spend the money, what's wrong with that?

 

[estebanrey]

Can't stand Ed Balls sitting there pointing at the front benches of the opposition.

 

[Azza]

Can't stand Ed Balls sitting there pointing at the front benches of the opposition.

Loves it doesn't he.

 

[Pudney]

Surprised nothing was mentioned on VAT, off to hunt down the budget details!

 

[GAC]

seriously ed and ed need to change the record its the same speech week after week.

 

[Mercenary Keyboard Warrior]

Can't stand Ed Balls sitting there pointing at the front benches of the opposition.

Its better than when he opens his mouth though

 

[Firestar_3x]

What a plank.

 

[Mercenary Keyboard Warrior]

Milliband stuck record, 50p tax cut seems to be the only real point he can make.

Shame that even last Labout government said it HAD to be temporary

 

[Theophany]

I think if Ed Moribund wins the next election I will deafen myself. His bleating really grates.

 

[Firestar_3x]

Milliband stuck record, 50p tax cut seems to be the only real point he can make.

Shame that even last Labout government said it HAD to be temporary

He's got nothing that’s why, he's a clown to dangle in front of those with no job, to remind them how they should be getting payed lots for doing nothing, whilst lambasting those who work.

 

[Spook187]

Zzzzz all tory lies yet again

 

[estebanrey]

The tax free allowance changes mean I'll be getting nearly £400 a year more a year, not bad really.

 

[C.R.A.Z.Y]

Zzzzz all tory lies yet again

+1

The tax free allowance changes mean I'll be getting nearly £400 a year more a year, not bad really.

Provided you still have a job

 

[Tunney]

Problem: Supply outstrips demand for housing, inflating prices to beyond what most people can afford.
Solution: Help people borrow more.

Wait, what?

 

[StriderX]

The tax free allowance changes mean I'll be getting nearly £400 a year more a year, not bad really.

What happens if you buy 10000 bottles of wine? Eh?