Autumn 2017 Budget

[GrumpyGregry]

As a day rate contractor outside the scope of IR35 that yet another chancellor has missed the trick again and not done away with this legal loophole is infuriating. PAYE prisoners being exploited as always.

 

[GrumpyGregry]

Do I need to see the budget details? I’m going to take a wild guess and say that I’ll be paying more tax next year.

You say that like it is a bad thing.

 

[Tin Pot]

You say that like it is a bad thing.

I do.

 

[GrumpyGregry]

I do.

It isn't.

 

[Tin Pot]

It isn't.

And here we have party politics.

 

[NickNick]

Urgh, without politics?

No.

They borrow in many different ways. To understand you first have to reject any notion that state like is like household debt.

https://en.m.wikipedia.org/wiki/Government_debt

So, very simplistically they can sell bonds to anyone who will buy them, or borrow money from other countries/organisations.

It's one of the reasons why the idea of aiming to "pay off" the nation's debt is stupid, if gov has 0 debt it's gotten rid of one of the major secure options for savers (especially large scale ones like pension funds, but even Joe Blogs wouldn't have option of premium bonds or any of the other bonds) to put their money into, which would cause carnage in the pensions industry.

 

[NickNick]

No it isn't.

Whilst it is a fact, it's has practically become a political point as it suits certain political groups/supporters/parties/institutions... to deny this fact.

It also doesn't help that 70 or 75% of MPs according to recent survey they completed, don't understand that money is created by banks lending.

 

[jefmcg]

It creates it out of thin air.

The government can create money out of thin air, but they give that names like quantitative easing. Borrowing, as described by others, is done via things like bond issues.

 

[BoldonLad]

It's one of the reasons why the idea of aiming to "pay off" the nation's debt is stupid, if gov has 0 debt it's gotten rid of one of the major secure options for savers (especially large scale ones like pension funds, but even Joe Blogs wouldn't have option of premium bonds or any of the other bonds) to put their money into, which would cause carnage in the pensions industry.

As I simple Retiree, I may be talking b****cks but, isn't Government borrowing (like many things) fine in moderation. The problem surely comes when the level of taxation required to service the "debt" begins to diminish "confidence" that the "debt" can be serviced.

The problem is defining "moderation".

Not that it should worry me, I will probably be long gone before the crunch comes, thus, if I was a selfish individual, I would be in favour of spend, spend spend.

 

[Fab Foodie]

It creates it out of thin air.

Surely it grows on No 10’s magic money tree....

 

[Dirk]

Surely it grows on No 10’s magic money tree....

Isn't that in Jeremy Corbyn's allotment?

 

[PK99]

The government can create money out of thin air, but they give that names like quantitative easing. Borrowing, as described by others, is done via things like bond issues.

Mugabe tried that in Zimbabwe

 

[albion]

Anyone seen my hat?

 

[Tin Pot]

As I simple Retiree, I may be talking b****cks but, isn't Government borrowing (like many things) fine in moderation. The problem surely comes when the level of taxation required to service the "debt" begins to diminish "confidence" that the "debt" can be serviced.

The problem is defining "moderation".

Not that it should worry me, I will probably be long gone before the crunch comes, thus, if I was a selfish individual, I would be in favour of spend, spend spend.

Fine or not fine depends on/defines your political allegiance.

Servicing debt is not really the same problem for sovereign nations as it is for us.

It is indeed best not to worry about these things...too much

 

[User482]

Mugabe tried that in Zimbabwe

As does virtually every other government.