UK Budget- The Axe Falls

[tibilicus]

http://news.bbc.co.uk/1/hi/politics/10371590.stm
The supposed "emergency budget" was revealed today and well, it was pretty much what everyone expected. Surprisingly however, despite what the naysayers said, it appears that the British public sector isn't going to be completely screwed to the wall, all in all, many people should be happy, obviously many aren't though.

Yesterday saw the surprising alliance of agreement between the Tax Payers Alliance and the TUC. Obviously they both have different motives for opposing the rise in VAT to 20%, the Tax Payers Alliance opposed it on the grounds they hate the word tax in general and the TUC because they hate everything proposed by Conservative governments, in general.

Perhaps the best thing in budget related news today however was watching Harriet Harmann and the Labour Party oppose the so called "reckless" budget. After 13 years of spending and spending beyond our means, Labour's solution to the problem? Spend some more! All this time not a single apology from a single Labour shadow cabinet member and still the party which used to be known for "taxing and spending" refuses to accept its new role as the party of "borrow and spend".

So, reactions, did anyone think it was going to be worse? Did anyone think it was going to be kinder?

[rory_20_uk]

Either Labour thinks heading for an IMF bailout is a badge of honour, or to admit everything they did was merely flashing the credit card would spell political suicide.

Best decry how theoretical jobs will be lost and gloss over how we got here.

[Beskar]

Only way you could spend more to get out of it, is if you are spending it wisely.

After the 2nd World War, the Country in times of debt even set up the National Health Service, etc, and we got ourselves out of it.

However, I am still thinking this whole "budget" thing is a scam. Trying to use the recession to slash across the board on budgets, as if to say, it was in fact the Budget which was the problem and not the bankers.

It was the Bankers fault for the recession, and it was the bankers fault for us the taxpayer having to bail them out with money we didn't really have in the first place. However, I do agree that spending needs to be looked at, but I don't think we are nessecarily going the right way about it. Though a 20% VAT will make Furunculus wake up on the wrongside of the bed as it makes us hit the European levels.

[rory_20_uk]

The banks had to sell shares to the government. We're close to the point that selling them would make a profit. That leaves aside the money to insure the deposits which was further billions. Long term, the government could make a decent profit from being the world's biggest hedge fund.

The banks didn't create the structural deficit, nor the ballooned debt. And Brown's fiscal austerity is merely 400bn or so off...

[Idaho]

Hmmm... Looks like those earning wages will be paying more, and those who profit from dividends, capital gains and company and corporate profits will be better off. Who'd have thought the Tories would do a thing like that?

And while the public sector is being slashed and people made redundant, housing benefit is slashed 10% too. Nice. So out of a job, and then out on the street. Good old Tories!

[Seamus Fermanagh]

Hmmm... Looks like those earning wages will be paying more, and those who profit from dividends, capital gains and company and corporate profits will be better off. Who'd have thought the Tories would do a thing like that?

And while the public sector is being slashed and people made redundant, housing benefit is slashed 10% too. Nice. So out of a job, and then out on the street. Good old Tories!

Have they got to the part about starving the kids and old people yet? It's never FUN being a conservative until you get to the juicy stuff.

[rory_20_uk]

Hmmm... Looks like those earning wages will be paying more, and those who profit from dividends, capital gains and company and corporate profits will be better off. Who'd have thought the Tories would do a thing like that?

And while the public sector is being slashed and people made redundant, housing benefit is slashed 10% too. Nice. So out of a job, and then out on the street. Good old Tories!

Amnesia kicking in already? Any idea why the country has no money? Another party? Likes to spend, pend, spend? Confuses "investment" with "waste"? Doling out houses and benefits make us a powerhouse of a country or a basket case?

Capital gains went up by 10%. It was reduced by Labour.

Almost entirely the Private sector makes money whilst the Public sector recycles it. So, we need more of the former and less of the latter.