Monday, Oct 08, 2007
Credit crisis may decide the next election - unfortunately for Brown
MoneyWeek: How the property crunch will topple Gordon Brown
By the time the general election happens, the public will realise the mess that Gordon Brown made of the economy when he was Chancellor...
Posted by mary @ 12:43 PM (803 views) Add Comment
8 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. planning4acrash said...
To be honest, I think that the credit crunch will decide the next election, but in reality, the credit crunch is a worldwide problem, part of a secular cycle. The treasury's part was to manipulate choose and CPI, but the Tories were spectacular in their ability to massage employment and inflation rates and to drop interest rates just before an election when they were in power, so I won't be swapping to them any time soon.
2. Techieman said...
Although you might not, not everybody remembers the last time the Tories were in power (or may not have been of voting age). In reality it makes little difference whose in power - when things go well , its because of prudent financial management and when things go badly - ah well thats a worldwide problem, nothing anyone can do. In reality the business cycle exists, boom and bust exists and is inevitable. The only question is how long can politicians extend the cycle - if at all (perhaps its a function merely of the long or K - wave) - and what will be the ultimate cost?
3. Aloha said...
"Non-doms in particular and private equity bosses should probably be worried. Mr Brown’s now been given a licence to tax them freely by the voters."
The author is in contradiction with himself. Why would Labour tax people that will fund their 2009 campaign??? To please the voters that will not have to vote before 2009? Or put in another way, simply move the focus on something else....
4. Paranoia Blue said...
P4C The credit crash does have a global aspect, most definitely.
However, Crash Gordon - master of saying one thing while doing the exact opposite - has to shoulder a fair bit of the blame.
He was the person who had the direct influence over our economy as chancellor for the last decade.
Under his watch, the UK consumer has ratcheted up well over a trillion pounds in debt to keep the Brown miracle on track.
Public spending growth has been exponential with – sadly, all to often, - little real benefit.
He has slowly been wringing us dry with his multifaceted stealth tax initiatives.
Meanwhile, he has encouraged the country’s over-reliance on the booming financial sector – leaving us highly over exposed in the face of a turndown in this sector.
However his piece de resistance, in our context, was his plundering of the pension purse, thus making folks wary of them, and so looking for alternative investments i.e buy-to lets.
I believe that the “feartie fae Fife” has a lot to answer for!!
5. Aloha said...
" there’s no money in the pot to fund public spending bonanzas or tax giveaways"
havent they approved a £30 billion project last week?
6. The Baldman said...
The credit crunch has been made worse in the Uk by the governments tacit support for HPi by to recycling the profits into taxes and back into the unproductive economy. Using theCPI has kept HPI alive but its going to take some grand scale manipulation to keep HPI alive.
7. alan said...
I agree, the next election will be fought on the unsound economics of the last 10 years.
Unfortunately, in the meantime, the whole economy could slip badly, and that's much more than I bargained for when I started reading HPC 18 months ago!
8. enuii said...
As a nation we have property pawned ourselves to the commercial banks just to keep the Neu Liebor charlatans in easy street for 10 years.