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

Public Finances £4b In The Black

Recommended Posts

I was at a speech of Gordon Browns last night. He was espousing the 150bn odd debts removed from the third world, I felt like raising the question about the 1.1trillion in our country...

Share this post


Link to post
Share on other sites

Corporation taxes are paid in arrears so the money coming in today is effectively the money owing from the LAST financial year. The figures will not show a slwodown in such receipts until next year when, I believe, the big slowdown we are now experiiencing will be reflected in the figures.

Share this post


Link to post
Share on other sites

Average owed by every UK adult is approximately £24,247 (including mortgages). This is growing £180 every month.

how much a month???

Each...??

£180 more in debt a month...

on average...

christ...

Mind you one guy rocking up for his interest only mortgage at £180,000 will increase that t little..

Share this post


Link to post
Share on other sites

But many economists believe that, although Mr Brown may reach this target in the year to April, he will have difficulty meeting his rule when the new economic cycle starts next year.

Hi,

Phew! Only 12 months to go then to find 21Bn more pounds to balance the fiscal defecit. And more than same figure again to bridge the trade defecit, before he has to present his balanced economic cycle to the European Central Bank. Although, he is more likely to be begging finance off them, especially if sterling continues to fall. And their usual prescription for past offenders has been to cut public spending and raise taxes. And he will need to be raising interest rates anyway if the trade defecit doesn't correct and sterling really tanks.

Miracle economy built on mortgage debt, credit cards and public spending and borrowing. Tut, tut, tut.

Boomer

Share this post


Link to post
Share on other sites

Gordon Brown is like a landlord.....

Heads he wins, tails the economists lose.....

:D

Hi,

Will you read the article please. He is in serious doo-doo. He surprised analysists by finding 4 billion in one year of retrospective corporation tax. Business has not feared so well this year. He still has to find 21 billion more in twelve months to balance the books. He signed an agreement in March with the EU central bank to do so after receiving warnings about Britain's deteriorating fiscal and trade defecits.

His best bet about now is to go down to Monaco and spin the roulette wheel. That is about the best hope he has of finding the money. So, lots of public spending cuts on the horizon. Maybe some tax rises. Good chance of interest rate rises next year when the markets react to him getting pulled in front of the EU central finance commision like a naughty little boy to go begging for some money.

Boomer

Share this post


Link to post
Share on other sites

I think you're all being very unfair - GB has saved the economy ! I think we should all be very grateful - he's a genius !

I, for one, am totally convinced and I shall be looking to buy a house at full asking price very soon.

Buckers

Hehe, right. Me too.

In fact I shall outbid you and throw in an extra 10 years of debt repayment to secure that house investment because the government always print money out of thin air causing prices to rise (oops I mean houses always go up in £). :)

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.

  • 301 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.