Budget

[BillyStubbsTears]

For the past 45 years, we've had Tory Chancellors and Shadow Chancellors telling us that you can't deliver growth through Government spending, and Governments spending has to be reined in.

Amazing how, when they are faced with the biggest economic threat since WWII, a Tory Chancellor suddenly tells us that the Govt needs to spend more to support economic growth.

Almost as if they never actually believed what they were saying all along isn't it?

Back in 2008-10, when we had what was then the worst economic shock since the War, the Tories were screaming at Labour for increasing Govt spending to get us out of the recession. They called them Deficit Deniers. They said that Austerity was the way to grow the economy.

Bunch of unprincipled bas**rds that they are.

For the avoidance of doubt, the fiscal stimulus announced today is welcome and needed (although it will prove to be pitifully small in relation to the economic challenge and will have to be increased later on). The point I'm making is that you would not find a Tory anywhere over the last two generations who would even admit that this was sensible economics. They have lied to the British people for nearly half a century on this topic. Until faced with a challenge that was too big for them to ignore basic economics.

[drfchound]

So is it a good budget for the country or not?

[BillyStubbsTears]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

[BillyStubbsTears]

And while we are talking about hypocrisy and terrible economic decisions, this.

https://mobile.twitter.com/CJFDillow/status/1237786269284995075

[selby]

I can't understand you Billy, the Tories have been telling you in every interview for the last few elections they are now the party of the working man/woman.
  You don't listen to them.

[DonnyOsmond]

I can't understand you Billy, the Tories have been telling you in every interview for the last few elections they are now the party of the working man/woman.
  You don't listen to them.

Hahaha

[drfchound]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

It is a good budget for the country but I knew you would still address it with a negative spin.
I see that no one else has been critical yet.

[Ldr]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

It is a good budget for the country but I knew you would still address it with a negative spin.
I see that no one else has been critical yet.

The Labour party were pretty negative in their response

[DonnyOsmond]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

It is a good budget for the country but I knew you would still address it with a negative spin.
I see that no one else has been critical yet.

There isn't anything wrong with what he's said though. This budget is good. Austerity wasn't needed and we should borrow and invest when interest is low, that's a fact. This is a forum, should we only post positive messages? It's like Rovers losing 10 in a row then finally winning one, should we ignore that previous run? And not say that the manager has learnt from his mistakes such as x, y and z?

[drfchound]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

It is a good budget for the country but I knew you would still address it with a negative spin.
I see that no one else has been critical yet.

There isn't anything wrong with what he's said though. This budget is good. Austerity wasn't needed and we should borrow and invest when interest is low, that's a fact. This is a forum, should we only post positive messages? It's like Rovers losing 10 in a row then finally winning one, should we ignore that previous run? And not say that the manager has learnt from his mistakes such as x, y and z?

DO, you know what, some people would say that the manager had learned from his mistakes.
Many have stuck up for him following the strange decision to persist with John at LB and with his tinkering with the team.
All I said was it was very predictable that BST would put a negative spin on a good for the country budget.

[wilts rover]

Well if people think announcing £600 billion of public spending without saying how it would be paid for then it's a good budget - or a magic money forest.

I notice Sadjid Javid and Teresa May were somewhat cautious about it. Funny old world.

[Bentley Bullet]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

It is a good budget for the country but I knew you would still address it with a negative spin.
I see that no one else has been critical yet.

There isn't anything wrong with what he's said though. This budget is good. Austerity wasn't needed and we should borrow and invest when interest is low, that's a fact. This is a forum, should we only post positive messages? It's like Rovers losing 10 in a row then finally winning one, should we ignore that previous run? And not say that the manager has learnt from his mistakes such as x, y and z?

Ah, but if we had a new manager, we wouldn't blame him for old team policies before he became manager, would we? After all, some people will still vote Labour in future despite the total inadequacies of its former leader,won't they?

[DonnyOsmond]

Well if people think announcing £600 billion of public spending without saying how it would be paid for then it's a good budget - or a magic money forest.

I notice Sadjid Javid and Teresa May were somewhat cautious about it. Funny old world.

We don't question the Conservatives magic money trees though. They don't have to price things up, only other parties have to do that.

[DonnyOsmond]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

It is a good budget for the country but I knew you would still address it with a negative spin.
I see that no one else has been critical yet.

There isn't anything wrong with what he's said though. This budget is good. Austerity wasn't needed and we should borrow and invest when interest is low, that's a fact. This is a forum, should we only post positive messages? It's like Rovers losing 10 in a row then finally winning one, should we ignore that previous run? And not say that the manager has learnt from his mistakes such as x, y and z?

Ah, but if we had a new manager, we wouldn't blame him for old team policies before he became manager, would we? After all, some people will still vote Labour in future despite the total inadequacies of its former leader,won't they?

It's more like a new manager who was previously the goalkeeper coach though. He was still part of a failing regime and still had metaphorical blood on his hands.

[drfchound]

Well if people think announcing £600 billion of public spending without saying how it would be paid for then it's a good budget - or a magic money forest.

I notice Sadjid Javid and Teresa May were somewhat cautious about it. Funny old world.

We don't question the Conservatives magic money trees though. They don't have to price things up, only other parties have to do that.

Mmmmm, I suppose the difference is though that this lot are in a position to put it into practice.

[selby]

  Ldr, labour?  WHO?

[Ldr]

Corbyn selby, in his budget response

[Bentley Bullet]

Hound.

I think you missed the bit where I said this was welcome and neccessary.

Of course it is good for the country to finally invest in infrastructure. The frustrating thing is it is a decade late. I've been posting for ten years on here that we need it and that cutting investment spending in 2010 was the single most stupid economic mistake since the War.

So of COURSE I welcome it. I'm not commenting on that. I'm commenting on the hypocrisy of Tory politicians cheering this, when they have spent 2 generations denouncing it as fantasy economics.

It is a good budget for the country but I knew you would still address it with a negative spin.
I see that no one else has been critical yet.

There isn't anything wrong with what he's said though. This budget is good. Austerity wasn't needed and we should borrow and invest when interest is low, that's a fact. This is a forum, should we only post positive messages? It's like Rovers losing 10 in a row then finally winning one, should we ignore that previous run? And not say that the manager has learnt from his mistakes such as x, y and z?

Ah, but if we had a new manager, we wouldn't blame him for old team policies before he became manager, would we? After all, some people will still vote Labour in future despite the total inadequacies of its former leader,won't they?

It's more like a new manager who was previously the goalkeeper coach though. He was still part of a failing regime and still had metaphorical blood on his hands.

But according to voters it wasn't failing though, was it? His new regime might turn out like Bob Paisley's when he replaced Bill Shankly at Liverpool.

[wilts rover]

As for 'leveling up' in cash terms this budget will mean the very poorest will be worse off and richest better off. Now there's a surprise.

https://twitter.com/joncstone/status/1237747464393895936

[drfchound]

As for 'leveling up' in cash terms this budget will mean the very poorest will be worse off and richest better off. Now there's a surprise.

https://twitter.com/joncstone/status/1237747464393895936

Some of the twitter replies say different.

[wilts rover]

As for 'leveling up' in cash terms this budget will mean the very poorest will be worse off and richest better off. Now there's a surprise.

https://twitter.com/joncstone/status/1237747464393895936

Some of the twitter replies say different.

People on twitter can't read a graph shock.

What do you say hound?

[SydneyRover]

I suppose when, just before the next election and the tories finally admit brexit was a load of b*llocks because they cannot pay back any of the 2tn +++ back and decide to rejoin the EU all the johnson sycophants will be saying yeah go for it man?

[wilts rover]

Anger as UK slashes tax break for entrepreneurs (it says here)

https://twitter.com/ftukpolitics/status/1237804950513737730

[drfchound]

I suppose when, just before the next election and the tories finally admit brexit was a load of b*llocks because they cannot pay back any of the 2tn +++ back and decide to rejoin the EU all the johnson sycophants will be saying yeah go for it man?

Wrong thread SR.    This isn’t the Brexit thread.

[BillyStubbsTears]

Hound.

You've done your usual thing of reading stuff into my posts that aren't there.

Let me say it really simply.

1) Borrowing to invest in infrastructure =good. Unquestionably.

2) Claiming this to be genius economics after half a century of screaming that it was dangerous quasi-Marxist nonsense =hypocritical. The very person announcing this today has spent years as a wonk decrying the concept of Govt borrowing to invest. That strain of politics has pissed away the 2010s and given us the worst decade of economic performance since the Napoleonic Wars. So forgive me if I don't strip off and run down the street cheering about a belated conversion. It's better that it's happening than not happening. But they have a hell of a long way to go to make up for the damage of the last decade.

Clear enough?

[drfchound]

BST, every journey starts with a single step.

Very clear to me.

[albie]

BST is right that infrastructure investment is needed, not least to make up for pointless the austerity years.

That said, that money needs to earn a living. You can invest in infrastructure which services the old economy, and becomes a stranded asset.

Spending on new roads is a waste of resources, by and large. It may add to the problem of climate change, the biggest item on the economic agenda going forwards.

There was little in the budget to address social care, no focus on inequality, no attack on child poverty, fuel poverty was missing from the story, the future of public services not assured.

That is just a starters list.
So yes, some steps forward, but no real understanding of how an economy will function in the next decade.

[SydneyRover]

The last article I read on the UK getting down to zero emmissions by 2050 would cost 33bn/year, good luck with that

[SydneyRover]

I suppose when, just before the next election and the tories finally admit brexit was a load of b*llocks because they cannot pay back any of the 2tn +++ back and decide to rejoin the EU all the johnson sycophants will be saying yeah go for it man?

BST is correct, do you have reading problems?







Wrong thread SR.    This isn’t the Brexit thread.

[drfchound]

I suppose when, just before the next election and the tories finally admit brexit was a load of b*llocks because they cannot pay back any of the 2tn +++ back and decide to rejoin the EU all the johnson sycophants will be saying yeah go for it man?

BST is correct, do you have reading problems?







Wrong thread SR.    This isn’t the Brexit thread.

No SR and I usually write my response to someone AFTER their copied post, unlike yourself.