March 3rd budget. What should Rishi do to balance the books ?

PeteXXX

Cake or ice cream? The choice is endless ...
Location
Hamtun
Apologies to our overseas members, UK based question, but as the title says..
What should Rishi do to balance the books on Budget Day 3.3.2021

Maybe there'll be time to send our suggestions for him to act on!
 

Bonefish Blues

Banging donk
Location
52 Festive Road
Borrow some more money to pay off this money. That'll work :smile:
 
Apologies to our overseas members, UK based question, but as the title says..
What should Rishi do to balance the books on Budget Day 3.3.2021

Maybe there'll be time to send our suggestions for him to act on!
Absolutely nothing.

There is no need to balance the books now, it would be exactly the wrong thing to do. We're in a crisis and have historically low interest rates.

With the sole exception of the austerity of 2010 and onwards, previous recessions' debt has been ameliorated with borrowing, then taxes, then spending cuts meaning the richest pay more. 2010, there was a decision to use the crisis to try and fundamentally change the country by paying with spending cuts up front, but not raising taxes, thereby pushing costs onto the poorest in society in an effort to reduce the size of the state.

It didn't go well.
 

byegad

Legendary Member
Location
NE England
Absolutely nothing.

There is no need to balance the books now, it would be exactly the wrong thing to do. We're in a crisis and have historically low interest rates.

With the sole exception of the austerity of 2010 and onwards, previous recessions' debt has been ameliorated with borrowing, then taxes, then spending cuts meaning the richest pay more. 2010, there was a decision to use the crisis to try and fundamentally change the country by paying with spending cuts up front, but not raising taxes, thereby pushing costs onto the poorest in society in an effort to reduce the size of the state.

It didn't go well.
THIS!
 

JBGooner

Senior Member
Freeze any increase in tax allowances
Scrap the pensions triple lock
Cap public sector wages rises to 1% for those earning <80k, 0% for >80k
Drop the 10% Capital Gains Tax allowance to 500k
Online sales tax of 1% on companies with turnover over 10 million
Reinstate full stamp duty
Reduce Barnett formula handout by 25%
Scrap all that help to buy nonsense

Scrap the Climate Change Levy
 

Joffey

Veteran
Location
Yorkshire
Absolutely nothing.

There is no need to balance the books now, it would be exactly the wrong thing to do. We're in a crisis and have historically low interest rates.

With the sole exception of the austerity of 2010 and onwards, previous recessions' debt has been ameliorated with borrowing, then taxes, then spending cuts meaning the richest pay more. 2010, there was a decision to use the crisis to try and fundamentally change the country by paying with spending cuts up front, but not raising taxes, thereby pushing costs onto the poorest in society in an effort to reduce the size of the state.

It didn't go well.
Quite right. There is no need to pay it back now, or ever really! And considering we owe around a third of it to ourselves we could always lend ourselves more!

But I suppose the stupid people of the UK will vote for King Boris after his amazing vaccine roll out and we'll kick start Austerity 2 in 2021 which will see more poor people struggling and the richer people getting richer! What a time to be alive!!
 

marinyork

Resting in suspended Animation
Location
Logopolis
Jab in to drink out. Similar to the eat out to help out but all beer is free and subsidised by Rishi. Bar staff are under national service scheme made up of influencers and secondary school pupils and those recently left covid quarantine hotels.

The jab out to drink out policy follows the 11pm closing time with fights for taxis and rickshaws to get people home.

Nobody unvaccinated wants to go the pub on a Monday, Tuesday or Wednesday any more. Non non-alcoholic beverages are banned. Cafes want to convert to pubs. SAGA set up a large chain of pubs.
 
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