Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Borrow And Spend, Balls Tells Summit: Shadow Chancellor Says More Is Needed To Give The Economy 'some Oomph'

Recommended Posts

http://www.dailymail.co.uk/news/article-2354166/Borrow-spend-Balls-tells-summit-Shadow-Chancellor-says-needed-economy-oomph.html

Shadow Chancellor insisted economic recovery cannot be taken for granted and said more needed to be spent on roads, rail and other public works

Mr Balls said that the IMF suggested £10 billion more should be spent on infrastructure, conceding Labour would borrow more if it was in power now

Ed Balls yesterday insisted Britain needs to borrow more to boost spending and give the economy ‘some oomph’.

Despite positive signs in recent months, the shadow Chancellor insisted economic recovery cannot be taken for granted and said more needed to be spent on roads, rail and other public works.

The new governor of the Bank of England, Mark Carney, was not a ‘miracle worker’ and should not be relied on to drive a return to economic health, Mr Balls insisted.

As the boom was borrow and spend clearly the only way to get a recovery is to borrow even more and spendy spendy!

Share this post


Link to post
Share on other sites

Hard to imagine how anyone could borrow more than the present incumbent of No. 11 without risking additional sovereign debt downgrades. Running a primary deficit of 7+% continuously is a far from trivial overspend. We're talking Third World levels of economic dysfunction.

Share this post


Link to post
Share on other sites

There's a poster here (I forget who) who ponders that possibly the best hope for bringing this whole sorry charade to some sort of end is to hope that Labour win the next election by a landslide and that they then set about their old tricks, thereby bringing the house of cards crashing down. I'm quite sympathetic to that position, and hearing statements like this from Balls, who seems so incredibly cavalier and cocksure in his one-size-fits-all solution to our country's problems, I can't help thinking that further downgrades, spiking gilt yields and subsequent inevitable sovereign debt default is actually part of New Labour's hidden agenda! To usher in a glorious New Utopia from the ashes of total social devastation :rolleyes:

Share this post


Link to post
Share on other sites

and when that new office block is built?....or that new motorway laid?

really, this is just digging holes and having men fill them in.

We HAVE roads, we HAVE rail, we have Leccy to all parts of the Country, we all have internet.....its just more politicing that we arent producing enough....and none of the above will cause us to manufacture any more than we do....and even if it did, the money used to do it was taken from the self same people in tax...

Where is the net benefit for the population?....

Share this post


Link to post
Share on other sites

There's a poster here (I forget who) who ponders that possibly the best hope for bringing this whole sorry charade to some sort of end is to hope that Labour win the next election by a landslide and that they then set about their old tricks, thereby bringing the house of cards crashing down. I'm quite sympathetic to that position, and hearing statements like this from Balls, who seems so incredibly cavalier and cocksure in his one-size-fits-all solution to our country's problems, I can't help thinking that further downgrades, spiking gilt yields and subsequent inevitable sovereign debt default is actually part of New Labour's hidden agenda! To usher in a glorious New Utopia from the ashes of total social devastation :rolleyes:

As things stand, Labour will win a majority in 2015, around 100 seats which would be plenty margin to contain significant rebellions if needed:

http://ukpollingreport.co.uk/ukpr-projection-2

A lot can happen between now and May 2015 of course, but the heat is increasingly on Cameron to change the sitaution. Miliband has the luxury(for the time being) of being able to say as little as possible and let Cameron's unpopularity take its toll.

A Labour Government could get by with a lot less than a majority of 100 of course, so the size of the task facing Cameron at present to not only contain and reel in the Labour lead, but also try and get a majority, is insurmountable imo. Which makes this Friday's vote on whether to have an EU in/out referendum post 2015 a bit of a farce.

Edited by cheeznbreed

Share this post


Link to post
Share on other sites

As things stand, Labour will win a majority in 2015, around 100 seats which would be plenty margin to contain significant rebellions if needed:

http://ukpollingrepo...pr-projection-2

A lot can happen between now and May 2015 of course, but the heat is increasingly on Cameron to change the sitaution. Miliband has the luxury(for the time being) of being able to say as little as possible and let Cameron's unpopularity take its toll.

A Labour Government could get by with a lot less than a majority of 100 of course, so the size of the task facing Cameron at present to not only contain and reel in the Labour lead, but also try and get a majority, is insurmountable imo. Which makes this Friday's vote on whether to have an EU in/out referendum post 2015 a bit of a farce.

Cameron could start by fixing a few things, like the NHS.

My physio was asked to join an on line booking scheme for the NHS...the cost...a Dedicated Broadband line to her house and a laptop.

She has fibre Broadband already.

The costs....£2900 for the kit and the line plus annual fees.

without the laptop, which the person could drop....£850......i asked what the laptop was, for £2050....apparently it was a Dell.

Someone is trying to make a killing here....specially as the laptop wasnt needed in the first place...I suspect the Direct line isnt either.

Share this post


Link to post
Share on other sites

Shadow Chancellor insisted economic recovery cannot be taken for granted and said more needed to be spent on roads, rail and other public works

Mr Balls said that the IMF suggested £10 billion more should be spent on infrastructure, conceding Labour would borrow more if it was in power now

So they're getting rid of swimming pools and libraries and suchlike and going to replace them with roads and railways etc that the UK already has plenty of.

Crazy crazy "investment" at this time.

If they just have to spend more taxpayers money and load people up with more national debt then why not spend it on stuff that people can use and enjoy like public sports and general facilities. Not another Olympic Stadium vanity grand scheme waste of money but things on a small scale like bringing swimming pools upto date, some more swimming pools, indoor running tracks, indoor tennis, squash and badminton courts and such like. People could use the facilities in their spare time while looking for work.

That would also provide jobs and a wider range of jobs than just roads and railways. Even local jobs.

It might even spark off a bit of entrepreneurial enterprise in supplying and installing the variety of things needed in such facilities - rather than mainly just concrete, steel and tarmac for roads and railways. It would disrupt communities far less rather than ploughing huge swathes of track through districts.

They're always banging on about how people should try to be more healthy and at least it would be a positive move in that direction.

Whilst they're at it they could reduce sports facilities fees to slightly mitigate the effect of inflation, taxes and "austerity" on people. Likely in time it would significantly reduce costs for the NHS.

That is if they just have to spend more. They could even put it to the vote.

They could even spare some money for housing.

Edited by billybong

Share this post


Link to post
Share on other sites

As things stand, Labour will win a majority in 2015, around 100 seats which would be plenty margin to contain significant rebellions if needed:

http://ukpollingrepo...pr-projection-2

A lot can happen between now and May 2015 of course, but the heat is increasingly on Cameron to change the sitaution. Miliband has the luxury(for the time being) of being able to say as little as possible and let Cameron's unpopularity take its toll.

A Labour Government could get by with a lot less than a majority of 100 of course, so the size of the task facing Cameron at present to not only contain and reel in the Labour lead, but also try and get a majority, is insurmountable imo. Which makes this Friday's vote on whether to have an EU in/out referendum post 2015 a bit of a farce.

Milliband will win at a canter. Even two years out it's a foregone conclusion. The one thing that might save the Tory vote from being split - a decision to leave the EU - is the very thing that Cameron's banking sponsors will never concede. They'd sooner work with Balls again. He can do uncontrolled immigration and property bubbling every bit as well as Osborne.

Share this post


Link to post
Share on other sites

http://www.dailymail...nomy-oomph.html

As the boom was borrow and spend clearly the only way to get a recovery is to borrow even more and spendy spendy!

So we are already pumping to the economy £120 billions we do not have (the current deficit) every year, but if we spend extra £10 billions we will save the world .... ????

What an idiot ...

Edited by Damik

Share this post


Link to post
Share on other sites

Cameron could start by fixing a few things, like the NHS.

My physio was asked to join an on line booking scheme for the NHS...the cost...a Dedicated Broadband line to her house and a laptop.

She has fibre Broadband already.

The costs....£2900 for the kit and the line plus annual fees.

without the laptop, which the person could drop....£850......i asked what the laptop was, for £2050....apparently it was a Dell.

Someone is trying to make a killing here....specially as the laptop wasnt needed in the first place...I suspect the Direct line isnt either.

Ring-fence Dave is on the wrong side of opinion, I agree. But that's where he wants to be, for whatever reason.

Share this post


Link to post
Share on other sites

Milliband will win at a canter. Even two years out it's a foregone conclusion. The one thing that might save the Tory vote from being split - a decision to leave the EU - is the very thing that Cameron's banking sponsors will never concede. They'd sooner work with Balls again. He can do uncontrolled immigration and property bubbling every bit as well as Osborne.

Can't argue with any of that. Extraordinary really, when you look at Miliband as a bought and paid for Unite type. There you go though. The thing I don't understand is the willingness of many Conservative MPs to tie themselves to Osborne's mast and go down with him. My MP is one such individual.

Edited by cheeznbreed

Share this post


Link to post
Share on other sites

Can't argue with any of that. Extraordinary really, when you look at Miliband as a bought and paid for Unite type. There you go though. The thing I don't understand is the willingness of many Conservative MPs to tie themselves to Osborne's mast and go down with him. My MP is one such individual.

It's the immigration issue above everything else. Every Ponzi scheme requires an exponentially increasing rate of return or it collapses. Either the number of participants goes up, the contribution made by each particpant goes up, or both. It's for this reason, and this reason alone I believe, that the Conservatives will never adopt an exit policy.

Share this post


Link to post
Share on other sites

Taxy taxy.

We're talking 70-80% else it's a waste of time.

Nobody has the cojones to tell the rich what's required of them, hence they'll all fail.

Share this post


Link to post
Share on other sites

Labour's stock answer to everything is to borrow and spend more money.

If spending on infrastructure combats recession then how come the massive spending under Labour last time didn't help mitigate the effects of the recession at all?

Share this post


Link to post
Share on other sites

..//..

.... the very thing that Cameron's banking sponsors will never concede. They'd sooner work with Balls again. He can do uncontrolled immigration and property bubbling every bit as well as Osborne.

Frightening. Just so scary. :angry:

Share this post


Link to post
Share on other sites

Labour's stock answer to everything is to borrow and spend more money.

If spending on infrastructure combats recession then how come the massive spending investment under Labour last time didn't help mitigate the effects of the recession at all?

We've 'invested' so much these past few years, we must be the richest country in the known universe.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 260 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.