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Vince Cable For Chancellor

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Did anyone else see him on the news - telling it like it is. I can't remember what he said word for word but the thrust if it was that the problems that were threatening the US economy were even more extreme here in the UK ie reckless lending and a bursting housing bubble.

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Did anyone else see him on the news - telling it like it is. I can't remember what he said word for word but the thrust if it was that the problems that were threatening the US economy were even more extreme here in the UK ie reckless lending and a bursting housing bubble.

on Ch4 news he said that hpi should be in the inflation basket - dont like that much with hpi now heading south

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on Ch4 news he said that hpi should be in the inflation basket - dont like that much with hpi now heading south

Vince Cable also said on C4 news that the CGT changes to 18% were hugely advantageous for the Buy-To-Let brigade :angry: :angry: :angry: Hopefully the next line of attack has to be to change the tax rules re BTL & FTB's

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Guest The_Oldie

From Vince Cable's commons speech today...

"Those factors that are precipitating a recession in the United States, which are personal debt and a bursting bubble in the housing market, are even more extreme in the United Kingdom".

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Did anyone else see him on the news - telling it like it is. I can't remember what he said word for word but the thrust if it was that the problems that were threatening the US economy were even more extreme here in the UK ie reckless lending and a bursting housing bubble.

He mentioned that growth might range from -0.5 to 2.5%. Snow immediately picked him up on the implication of recession being a possibility and then ignored it completely.

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In today's Telegraph.

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Four years ago, in response to the 2003 Pre-Budget Report, I asked Gordon Brown: "Isn't the brutal truth that, with investment, exports and manufacturing output stagnating or falling, the growth of the British economy is sustained by consumer spending pinned against record burdens of debt which is secured, if at all, against house prices that the Bank of England describes as well above equilibrium level."

He announced that I was "spreading alarm" – obviously not very effectively, since the boom has continued, the imbalances have widened and the vulnerabilities have become more extreme.

Cheers,

Tim.

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on Ch4 news he said that hpi should be in the inflation basket - dont like that much with hpi now heading south

I'm glad someone else picked up on this. At a stroke, CPI could be suppressed sufficiently to make meaningful cuts in base rates. Are NuLabour cynical enough to engineer this? I think we all know the answer to that one..........

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Guest happy?
Did anyone else see him on the news - telling it like it is. I can't remember what he said word for word but the thrust if it was that the problems that were threatening the US economy were even more extreme here in the UK ie reckless lending and a bursting housing bubble.

I missed it. Did he have the large wing-chair, tartan blanket and Werther's Original?

'You know, I can still remember who I was the day that David Steel said to me "Go back to your constituency and prepare for bed."'

Edited by happy?

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