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UK spent £8.7bn in debt interest payments for June 2021, £6bn more than June 2020


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10 hours ago, Grumio said:

At what point does this become self-reinforcing... Ie increasing interest rates least to increased borrowing? This could be what forces the boe to increase rates finally?

You run out of road at some point.

After the Brown fk-up and Gidiots cuts - and he did cut a lot, though by ignoring Education and health, he avoided the biggest consumers of government - I thought theres possibility the UK will meet is obligations without providing we dont have a large recession in the next 20 years - yeah I know.

I think we are looking at the end of the sterling as we know it.

I also think all the public sector striking about pay rises are going to get it in their necks, pension wise.

Looking ahead, you can see a hard  and soft pound option a la Cuba.

 

 

 

 

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2 hours ago, spyguy said:

I also think all the public sector striking about pay rises are going to get it in their necks, pension wise.

 

I think you're right.

In 2019 the Government lost a discrimination lawsuit about closing its many final salary pension schemes.

https://www.fbu.org.uk/news/2019/12/18/firefighters-win-back-pensions-blow-government

https://neu.org.uk/advice/judges-and-firefighters-age-discrimination-pension-case

The Government will need to put up pension contributions a lot to pay for this.

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2 hours ago, spyguy said:

You run out of road at some point.

After the Brown fk-up and Gidiots cuts - and he did cut a lot, though by ignoring Education and health, he avoided the biggest consumers of government - I thought theres possibility the UK will meet is obligations without providing we dont have a large recession in the next 20 years - yeah I know.

I think we are looking at the end of the sterling as we know it.

I also think all the public sector striking about pay rises are going to get it in their necks, pension wise.

Looking ahead, you can see a hard  and soft pound option a la Cuba.

 

 

 

 

You are right but wrong, nearly all government plans everywhere except China have been shot to pieces, so all governments are running out of money we are not really in a worse position in comparison 

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45 minutes ago, shlomo said:

You are right but wrong, nearly all government plans everywhere except China have been shot to pieces, so all governments are running out of money we are not really in a worse position in comparison 

Something like this happened before World something or other. Twice I seem to recall.

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5 hours ago, Locke said:

Something like this happened before World something or other. Twice I seem to recall.

The problems of South Africa are linked to the rise of China and the change in direction of money.

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1 hour ago, dirtyduck said:

I remember being angry about them wasting £150 million on the millennium dome.  How embarrassing 😳

Yeah it's a bit of a joke, the money wasted on furlough, track and trace etc. are mind boggling, we could have given vunerable people a gold plated care package to shield and not got anywhere to the sums we have now spent, if we had just kept the rest of the economy running.

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13 minutes ago, reddog said:

Yeah it's a bit of a joke, the money wasted on furlough, track and trace etc. are mind boggling, we could have given vunerable people a gold plated care package to shield and not got anywhere to the sums we have now spent, if we had just kept the rest of the economy running.

Yup.  It’s quite clearly a managed printathon to the next monetary system.  Most people are to busy with life to really notice or care.  So it’s a case of trying your best to understand this point in time and try and fill your boots (by that I mean financially survive:) ).

Edited by dirtyduck
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3 hours ago, dirtyduck said:

I remember being angry about them wasting £150 million on the millennium dome.  How embarrassing 😳

Compared to this lot, Brown selling off Gold reserves was a rounding error.

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