Sunday, Nov 23, 2008
Merry Christmas from Gordon Brown
Independent: Treasury's dreadful position means a long squeeze on living standards
What troubles me is that the need to give a tax boost to the economy, which most of us would accept is desirable, is being used to conceal a really dreadful underlying fiscal position. If people realise that, they will realise that there will be a long squeeze on their living standards for a decade or so, as this deficit in gradually corrected. The rational response is to correct their own personal balance sheets, pay off debt as fast as they can, and get to work on improving their pension, because the Government in 10 or 20 years' time won't have the funds to help them. Golden periods don't feel like golden periods at the time. People who took out big mortgages, in effect borrowing to finance a standard of living they could not really afford, now face a harsh adjustment.
3 Comments
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1. mark wadsworth said...
Even that numptie David Cameron made the point on Andrew Marr's show that the expected £100 billion public sector deficit next year was £4,000 per household. What on earth do these Nulab hooligans intend to spent it on?
2. Jj said...
If a general election is called early, then I'm going to set my vote for Labour. I want to see GB and AD cringe in 4 years time when they have to deal with the big problems through the policies and actions that are being taken now. I don't believe any of the sheeple understand these consequencies and how they will come to haunt them in the future. Cameron and Osborne just don't fill me with confidence at the moment, neither does Clegg.
3. Urban Bear said...
I suggest slashing your debt and living costs, and maximising your savings in safe-haven investments (I have mine in Gold bullion). Do not be surprised at rapidly declining state pensions and other financial support from government, because the haven't got the funds to support the current Ponzi Welfare State spending; expect more means testing, longer waiting lists, corruption, riots, poverty and harsher policing, be grateful while the relative calm lasts.
This country should halt extra funding for Zombie corporations, exit the hideous expensive fraudulent EU (we only need free trade), repeal all wasteful, and unlawful, laws and edicts, including political correctness, revitalise genuine British culture(s), bring back proper immigration controls (no entry or residence without practical living cost savings or a sponsor employer for genuinely needed skills), rebuild our manufacturing industries, only send money abroad in exchange for things of value, end the free ride of the landowners by introducing Land Value Tax, and look at reforming our money system. These measures would save Britain many 10's of Billions 'Sterling' and provide the resources to reduce our exposure to destructive corporate globalism.