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gruffydd

Treasury Secretary, Des Browne, Writes A Letter

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So Des Browne has written to the Independent.

Sirs: You are wrong (4 February) to state that home repossessions in 2005 were at their highest level since the 1991 crash. As clearly stated by the Council of Mortgage Lenders, home repossessions are still less than one third the rate in 1997, and at their third lowest since 1983. Furthermore, far from Britain being in a state of boom and bust, we have just registered the 54th quarter of consecutive economic growth, we are at the top of the OECD for the stability of growth and inflation, we have seen average wealth per head rise from last in the G7 to third, and - with interest rates, inflation and unemployment still at historic lows - households across the income scale are continuing to see their living standards rise.

Des Browne, Chief Secretary to HM Treasury

(I only bought it for the DVD - a pretty dire paper - I scanned through the money section and there was an article that mentioned how many were disappointed by the withdrawal of SIPPS, but there are other ways to invest in property. Written by a freelancer).

ARGHHHHHHHHHHHHHHHHHHHHHHH

G

Edited by gruffydd

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He forgot to mention.....

The appaling level of bankrupticies / IVA's

The appaling level of the trade deficit

The appaling level of debt - both public (including unfunded liabilities) and private

The appaling state of pension provision - particulalrly amongst the young (ush)

The appaling amount of waste in the public sector.

But then he would ignore all of the above because we know who is resonsible for it.

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Furthermore, far from Britain being in a state of boom and bust, we have just registered the 54th quarter of consecutive economic growth

Not hard to 'grow' when you under-report inflation by 4-6%.

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So Des Browne has written to the Independent.

Sirs: You are wrong (4 February) to state that home repossessions in 2005 were at their highest level since the 1991 crash. As clearly stated by the Council of Mortgage Lenders, home repossessions are still less than one third the rate in 1997, and at their third lowest since 1983. Furthermore, far from Britain being in a state of boom and bust, we have just registered the 54th quarter of consecutive economic growth, we are at the top of the OECD for the stability of growth and inflation, we have seen average wealth per head rise from last in the G7 to third, and - with interest rates, inflation and unemployment still at historic lows - households across the income scale are continuing to see their living standards rise.

Des Browne, Chief Secretary to HM Treasury

(I only bought it for the DVD - a pretty dire paper - I scanned through the money section and there was an article that mentioned how many were disappointed by the withdrawal of SIPPS, but there are other ways to invest in property. Written by a freelancer).

ARGHHHHHHHHHHHHHHHHHHHHHHH

G

Des Browne is a Brownite following the party line. No surprise there. Here’s a bio:

http://www.theyworkforyou.com/mp/des_brown...ock_and_loudoun

I doubt repossessions are close to the rates of the early 90s, but what’s annoying is the outright refusal to concede there may even be a problem with dept, house prices or the economy. This is just days after the by-election debacle in Fife where local economic issues and political arrogance on the part of Gordon B were the main causes of New Labour’s reversal. The response from the Treasury is more of the same arrogance. I would advise Des and his boss Gordon to take the blinkers off or they’ll be going the way of the unfortunates of Lexmark. But Gordon’s beyond advice. It’s difficult to know where the socialist/capitalist, prudent/spend thrift, egomaniac is going. Where ever there are votes is the obvious answer. But Fife had one of the highest published rates of HPI in the UK last year, and Labour still had one of its worst defeats in recent history.

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  • 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%



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