f1_fan

iTrader: (9)

In every key economic speech Osborne has made since being 'elected' chancellor he has stressed the importance of a 2% inflation rate in that it should not deviate up or down from it by more than 0.5% ideally in order to 'keep the recovery on track'.

So this week's announcement that inflation is now at just 0.5% was met with dismay by Mr. Osborne yes? Nope, he tweeted:

""Inflation is 0.5% - lowest level in modern times. Welcome news with family budgets going further & economic recovery starting to be widely felt".

So what will he say when it gets back 'on target'?

Welcome news with family budgets going less far and economic recovery now being less widely felt.

Why can't they just tell the truth for once in their lives????

stevebt

iTrader: (8)

Im still worse off since the recession started and not one single pay rise but lots of cuts around 50% of my wage. The only people who are benefiting from the recovery are the rich

Tidgy

Think its very dependant on sector. Market sector im in it's now hard to find decent staff so wage is going up and up

Carnut

Do you think that people living way way beyond their means before the recession has magnified the feeling of being worse off?
Plus my second question. How do you think the UK has done relative to the rest of Europe?

Matteeboy

Totally agree.
Have you really had 50% knocked off your salary? Ouch!

f1_fan

iTrader: (9)

Not sure what these questions have to do with the post, but here goes:

1) Yes of course people who were driving big cars and living in big houses all financed way beyond sensible levels will feel worse off than those not doing so if it all gets taken away, but my personal feelings aren't with them as they are just idiots in my eyes. My feelings are with those people and families living more or less hand to mouth who have seen energy bills and the likes increase massively while their wages have effectively dropped.

2) The UK has undoubtedly performed quite well compared to the rest of Europe, but Sauber generally do better than Caterham in F1 and Sauber haven't won any championships .... if you get my drift. Someone said on here the other day that all the chancellor is doing right now is kicking the economic can down the road and that is precisely the right analogy. We are still massively in debt and have an income tax shortfall that wipes out many of Osborne's bold promises for the short term and now a VAT shortfall (due to fuel prices dropping) that will also have an effect.

My post was more to point out that either he is a) clueless or b) spinning the truth and hoping the electorate won't notice his contradictions.

joz8968

iTrader: (13)

...Or both.

Carnut

Was because of this tiny little bit of your post plus i feel it's a fair comparison to compare the UK to the rest of Europe to help evaluate how well we're doing. Yes he lies but then so will everyone. If the end result is there then I'm inclined to give him a BIT of a break.

Sometimes the truth hurts, people put pressure on whether it's needed or not and with the opposite sides making it seem as if they could do the job with their eyes closed, him being honest would see them kicked out regardless of how well they did.

hodgy0_2

the reality is , bar tinkering at the "economic" edges, the politicians are pretty impotent in these days of "globalisation" and the free movement of capital

they tend to be subservient to these big global financial interests anyway

Matteeboy

I bet he used "hard working families?" A line so over used, it could actually wear itself out soon.

f1_fan

iTrader: (9)

We're £1.5 trillion in debt..... and it's getting worse. Now compare that to other countries in Europe. Then how well do you think we are really doing?

Matteeboy

Successive governments have been VERY good at hiding this. 95% of people are so short termist in their thinking that they just don't care and get another car/sofa/house on the never never.

dpb

How much more are we in debt than other euro countries ?

France for example

joz8968

iTrader: (13)

I want to punch them in the head - drives me insane. Such condissention.

In any case, what about (the majority of) people who 'just work' - you know, just to (lawfully) make a living for themselves...just to get by, etc.

Not everybody is a 'go-getter' or career-minded. Doesn't make them any less deserving though...

Matteeboy

Any government will show you a pointless graph making things look rosy but they probably won't show you this one;

hodgy0_2

what does "banking liabilities" mean

f1_fan

iTrader: (9)

France

Germany

UK

Gear Head

iTrader: (2)

I almost spat my coffee out the other day when Mr Osborne congratulated himself on the falling oil prices saying that is was 'all part of the plan'. Yes, George, lower VAT payments from one of if the largest tax revenue earners is great news for you and entirely inline with your recovery plans.

Complete and utter dumb ****. We need a law that states that any government party, whether in power or opposition, has to be open and honest about its plans, predictions and f&ck ups. If they aren't then they are fraudulent and should be dealt with accordingly.
Take Labours manifesto for example. There is a £30 billion black hole that they cannot explain. Do they really think people are that stupid? How the hell does he sleep at night?
And instead of offering any explanation, he just avoids the question like a typical politician. The times for bull**** are over. The world just cannot tolerate any more of these toffee nose, posh speaking ***** with no real sense of responsibility or understanding of the key issues facing our modern society.

I've given up caring to be honest. I favour no party anymore. Infact, I detest all of them. Admittedly, I don't know what the answer is, but I am far more interested in taking care of my family as opposed to aligning myself with a preferred party.

Such as shame as this is not what our veterans fought for is it?

Matteeboy

http://www.amosweb.com/cgi-bin/awb_n...nk+liabilities

dpb

Look how well we're doing

f1_fan

iTrader: (9)

Look how well who were doing?

hodgy0_2

ah OK

I suppose it is confusing because "household debt", presumably mostly to banks- actually shows up as an asset on a Banks balance sheet

f1_fan

iTrader: (9)

The key figure is the debt as a percentage of GDP. Go and look at Australia's ..... we're not doing well at all!

dpb

Much younger country with many more resources

f1_fan

iTrader: (9)

Irrelevant, you reckon we're doing well and we're not as I just showed you.

dpb

All relative though isn't it , Europe is mostly down the ****ter. , but at least we're clinging to the rim

Wurzel

iTrader: (1)

I am not convinced this is true.

If only10 people can afford to buy a tank of petrol at 80 quid a tank that is vat at 20% on 800 quid but drop the price so 20 people can now afford a tank of petrol at 60 quid a tank that is vat at 20% on 1200 quid.

Or am I missing something?

f1_fan

iTrader: (9)

Because it doesn't work like that. Ultimately you are right, but in the short term people don't suddenly buy more fuel because its cheaper. People are conditioned to buying less, have found jobs nearer their homes, have got rid of the car etc. etc.

If prices stay low you may well be right, but as the chancellor found out when he raised VAT in the first month or so he got lots of extra revenue from fuel sales, but then it tailed off as people found ways to spend less on it. The same will happen in reverse..... it will slowly creep up, but not enough to not cause the treasury further issues.

alcazar

iTrader: (2)

True.
I mothballed the Scoob and bought a small diesel (on credit, of course), which has done 2700 miles since May. Even though I now get 60+ mpg round town etc, and 75+ on the motorway, I just cannot bring myself to go places in it.

No Road Tax either, and the Scoob is SORN.

stevebt

iTrader: (8)

I work on price and the prices I have now are 50% less than what they were before the recession started. Its took away all the money I would just waste on cars and holidays.