Leeds Spur
Banned
That is a flimflam graph. UK public debt is around 70% of GDP
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Ed Milliband repeats himself
- Thread starter NickTB
- Start date
That is a flimflam graph. UK public debt is around 70% of GDP
monkeybarry
Ian Walker
damn it, a good political and fiscal debate when i havnt had internet for a week
$^^%?ú&$%"&%$&
$^^%?ú&$%"&%$&
southstand1882
Mitchell Thomas
The graph includes all the contingent liabilities, including public-sector backed guarantees, and most importantly, the Net Present Value of healthcare and pensions
southstand1882
Mitchell Thomas
The UK's consolidated debt (non-financial, financial, government and household) to GDP is actually closer to 1000%
It's why we're big fans of rehypothecation
We are in so much brick, it's unreal
It's why we're big fans of rehypothecation
We are in so much brick, it's unreal
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southstand1882
Mitchell Thomas
monkeybarry
Ian Walker
that seems to suggest that our household debt is on a par with most other major economies and our main problem is the debt within the financial sector with dwarfs that of anyone else (appx 600% of GDP per their graph) - which is why we are a) sensible in trying to reduce personal debt and be less reliant on the financial sector and b) move our economy away from reliance on financial services
Leeds Spur
Banned
Well, RBS just paid back their government backed loans. And how can anyone who what or healthcare and pension liabilities are?
It demonstrates that we need to address them before they get out of hand. The US debt s almost entirely down to bush with his massive tax cut or those earning more than $250,000 a year and the two wars.
Leeds Spur
Banned
You could say your bank has a full liability for the whole value of your mortgage. In fact your house is also an asset and th bank can repossess it.
The financial liabilities are just that, we are the lender of last resort for our banks as w still hav a central bank, eurozone countries don't.
We have a growing population and tax base, something Feance, Italy and Germany don't have. In the long term we will be fine as long as we control the debt now and keep o borrowing costs down.
Hollande will find out just how powerful the markets are now when you think you can ask them to finance your welfare state and then think you can dictate terms.
The financial liabilities are just that, we are the lender of last resort for our banks as w still hav a central bank, eurozone countries don't.
We have a growing population and tax base, something Feance, Italy and Germany don't have. In the long term we will be fine as long as we control the debt now and keep o borrowing costs down.
Hollande will find out just how powerful the markets are now when you think you can ask them to finance your welfare state and then think you can dictate terms.
southstand1882
Mitchell Thomas
Anyway, I can't wait to see how Hollande gets on in charge of France
One of the laziest, self-serving, ignorant countries in the world, now has a socialist in charge:ross:
Bye bye Euro!
Leeds Spur
Banned
The point s we don't know what age people will retire in 2050. How much pension will be paid? What tax revenues? That is just a projection. What we know for sure is the trillion pound debt we have now.
Leeds Spur
Banned
We will get dragged into a massive recession us that happens. Resist all further integration by all means. fudge the ECHR off yes. But the eurozone crashing would fudge the global economy including us.
Gilzeantoscore
Justin Edinburgh
They think well of you too:lol:
southstand1882
Mitchell Thomas
They should do, I'm a NET CONTRIBUTOR to this country and the Euro gravy train
Leeds Spur
Banned
Hollande getting things off to a good start in terms of cross channel relations.
Good lad!
http://www.dailymail.co.uk/news/art...-Britain-cares-City.html?ICO=most_read_module
Good lad!
http://www.dailymail.co.uk/news/art...-Britain-cares-City.html?ICO=most_read_module
WookieD
Didier Zokora
ÔÇÿThe British have been particularly shy about the issues of financial regulation, and attentive only to the interests of the City ÔÇô hence their reluctance to see the introduction of a tax on financial transactions and tax harmonisation in Europe.ÔÇÖ
We aren't reluctant to see an introduction of financial transaction taxes and tax harminisation... We flatly oppose it you gimp. The same way we oppose your failed currency and most of us oppose your European vanity project full stop.
We aren't reluctant to see an introduction of financial transaction taxes and tax harminisation... We flatly oppose it you gimp. The same way we oppose your failed currency and most of us oppose your European vanity project full stop.
Leeds Spur
Banned
Tax harmonisation?
Hmmm....75% tax rates?
Sounds reasonable!
Hmmm....75% tax rates?
Sounds reasonable!
Danishfurniturelover
the prettiest spice girl
How about farmers across europe are put on an equal footing first, lets see how ****y the french are when they lose CAP. pricks.
Leeds Spur
Banned
Very good point!!
Yep....we'll have our CAP subsidy back Mr. Froggy!
Yep....we'll have our CAP subsidy back Mr. Froggy!
That graph presents a flawed argument.
Debt here is always going to be higher for 2 reasons:
1 - We have a massive financial services sector which obviously carries large amount of debt due to the amount of transactions that are going through it
2 - It includes mortgages which we in the UK have a lot of, in Germany for instance hardly anyone buys there with the majority renting property. This is mainly because house prices and wages have remained flattish for years so there is no incentive to buy but thats for another thread.
Debt here is always going to be higher for 2 reasons:
1 - We have a massive financial services sector which obviously carries large amount of debt due to the amount of transactions that are going through it
2 - It includes mortgages which we in the UK have a lot of, in Germany for instance hardly anyone buys there with the majority renting property. This is mainly because house prices and wages have remained flattish for years so there is no incentive to buy but thats for another thread.