Pensions

[Field Marshal Dr. Opti]

Im staggered that anyone could describe the UK as a low taxation country. We are currently taxed at the highest level in modern times.
Its my understanding that other major European countries are in an even worse economic mess than we are.
Its always been a basic rule of economics that high taxation and high growth are very uncomfortable bedfellows.

I always thought the debt to GDP ratio in this country was bad, but it is even worse in parts of Europe.

We have roughly a 95% -100% debt to GDP ratio......which costs about £110 billion in interest alone.

Greece 143%

Italy 139%

France 118%

I was suprised to find the USA sits at around 120%...

[STEMO]

Just after the war, our debt to gdp ratio was 250%, but we managed. That's because we weren't feeding half of Africa and buying white elephants.

[TheBoy]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

[Varche]

Funnily enough, I see myself as a Centrist. I see stuff that the woke left want and the far right that raise my hackles. However on the illegal boat arrivals I am shockingly out of my central position! I would ship them back to France under cover of darkness ( somewhere not just over the channel.) Spain is overwhelmed trying to intercept drug boats. France likewise wouldn't be able to detect return missions off the West coast. Finger print and Id before returning and give a handout saying if you are caught returning ......

Well my taxation ideas wouldn't hit the ordinary man in the street. I agree with you on examining spend - bang for bucks.

It will all unravel of course when Europe is openly at war with Putin,  plus we still have to find our share of funding Ukraine next year. 155 billion. That is just for 2027.

[Rangie]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

.

My old mum had a favourite saying " never live beyond your means " God rest her soul , this is something anyone with an ounce of commonsense knows is right, then why do our leaders ( elected & unelected)  keep borrowing to give to workshy layabouts & the various scum turning up illegally on our shores ? It's beyond my comprehension.

[Field Marshal Dr. Opti]

Just after the war, our debt to gdp ratio was 250%, but we managed. That's because we weren't feeding half of Africa and buying white elephants.

Japan is somewhere around this figure today.

A large number of very old people who seem to live forever (it must be the raw fish  )......and a very low birth rate which means there are not enough people of working age to pay for them.

[Field Marshal Dr. Opti]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

.

My old mum had a favourite saying " never live beyond your means " God rest her soul , this is something anyone with an ounce of commonsense knows is right, then why do our leaders ( elected & unelected)  keep borrowing to give to work shy layabouts & the various scum turning up illegally on our shores ? It's beyond my comprehension.

They call it 'suicidal empathy'.......

We are f*ucked.

[LC0112G]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

.

My old mum had a favourite saying " never live beyond your means " God rest her soul , this is something anyone with an ounce of commonsense knows is right, then why do our leaders ( elected & unelected)  keep borrowing to give to workshy layabouts & the various scum turning up illegally on our shores ? It's beyond my comprehension.

The Asylum system was estimated to have cost almost £8Bn last year. Yes of course thats a huge amount of money, and yes we should be doing our best to reduce it.

But the borrowing this year so far (April to August) is already £77Bn, and it's estimated it'll be £130Bn by the end of the tax year.

Even if you could cut the asylum bill to zero, you've still got to find another £122Bn to balance the books - and that's before you start paying off the £3Tn in accumulated debt.

Illegal immigration is a useful stick to rabble rouse with, but it's not anywhere close to the top of the real financial problems.

[STEMO]

Funnily enough, I see myself as a Centrist. I see stuff that the woke left want and the far right that raise my hackles. However on the illegal boat arrivals I am shockingly out of my central position! I would ship them back to France under cover of darkness ( somewhere not just over the channel.) Spain is overwhelmed trying to intercept drug boats. France likewise wouldn't be able to detect return missions off the West coast. Finger print and Id before returning and give a handout saying if you are caught returning ......

Well my taxation ideas wouldn't hit the ordinary man in the street. I agree with you on examining spend - bang for bucks.

It will all unravel of course when Europe is openly at war with Putin,  plus we still have to find our share of funding Ukraine next year. 155 billion. That is just for 2027.

And Trump is backing Putin

[Field Marshal Dr. Opti]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

.

My old mum had a favourite saying " never live beyond your means " God rest her soul , this is something anyone with an ounce of commonsense knows is right, then why do our leaders ( elected & unelected)  keep borrowing to give to workshy layabouts & the various scum turning up illegally on our shores ? It's beyond my comprehension.

The Asylum system was estimated to have cost almost £8Bn last year. Yes of course thats a huge amount of money, and yes we should be doing our best to reduce it.

But the borrowing this year so far (April to August) is already £77Bn, and it's estimated it'll be £130Bn by the end of the tax year.

Even if you could cut the asylum bill to zero, you've still got to find another £122Bn to balance the books - and that's before you start paying off the £3Tn in accumulated debt.

Illegal immigration is a useful stick to rabble rouse with, but it's not anywhere close to the top of the real financial problems.

The welfare/benefits bill amounts to around £335 billion......but 50-55% is paid in pensions.

Still leaves around £170 billion to play with although I doubt Labour would be willing to consider cutting this.

[Doctor Gollum]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

.

My old mum had a favourite saying " never live beyond your means " God rest her soul , this is something anyone with an ounce of commonsense knows is right, then why do our leaders ( elected & unelected)  keep borrowing to give to workshy layabouts & the various scum turning up illegally on our shores ? It's beyond my comprehension.

The Asylum system was estimated to have cost almost £8Bn last year. Yes of course thats a huge amount of money, and yes we should be doing our best to reduce it.

But the borrowing this year so far (April to August) is already £77Bn, and it's estimated it'll be £130Bn by the end of the tax year.

Even if you could cut the asylum bill to zero, you've still got to find another £122Bn to balance the books - and that's before you start paying off the £3Tn in accumulated debt.

Illegal immigration is a useful stick to rabble rouse with, but it's not anywhere close to the top of the real financial problems.

Turn off the NHS. That would solve alot of the issue.

[Rangie]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

.

My old mum had a favourite saying " never live beyond your means " God rest her soul , this is something anyone with an ounce of commonsense knows is right, then why do our leaders ( elected & unelected)  keep borrowing to give to workshy layabouts & the various scum turning up illegally on our shores ? It's beyond my comprehension.

The Asylum system was estimated to have cost almost £8Bn last year. Yes of course thats a huge amount of money, and yes we should be doing our best to reduce it.

But the borrowing this year so far (April to August) is already £77Bn, and it's estimated it'll be £130Bn by the end of the tax year.

Even if you could cut the asylum bill to zero, you've still got to find another £122Bn to balance the books - and that's before you start paying off the £3Tn in accumulated debt.

Illegal immigration is a useful stick to rabble rouse with, but it's not anywhere close to the top of the real financial problems.

Maybe so but at least it would be a step in the right direction.

[Migv6 le Frog Fan]

Varche, I know you are a through and through leftie at heart, but taxation isn't the solution (see France of late).  Spending is the problem.

Yes, everybody will have different ideas when the limited funds should be spent - NHS, lame and lazy, HS2, potholes and so on - but no country should be consistently living beyond its means.

.

My old mum had a favourite saying " never live beyond your means " God rest her soul , this is something anyone with an ounce of commonsense knows is right, then why do our leaders ( elected & unelected)  keep borrowing to give to work shy layabouts & the various scum turning up illegally on our shores ? It's beyond my comprehension.

They call it 'suicidal empathy'.......

We are f*ucked.

Middle class guilt & naivety gone mad, and we are all paying the price, as will many future generations.

The figure of £8 billion for the asylum bill is a joke. I have no doubt that it doesnt take into account that the majority of arrivals for the last few years are not (officially) in work, but claim every benefit they (and their friends in the legal profession) can think of.

[LC0112G]

Good news for all the coffin dodgers on here.  Inflation was 3.5% in the year to September, so under the triple lock that will cause the SP to rise by that amount.

Those on the old State Pension should get a £374 increase from £9615 to £9989. This excludes any increase to their SERPS and other top up elements.
Those on a full New State Pension will get a rise from £12548 to £13036.

5.3 million people claim the new state pension, and 7.9 million claim the old state pension. So that's another £5.5Bn on the UK's credit card.

Details will be confirmed in next weeks budget.

[STEMO]

Those on the new state pension will be liable for income tax. Be interesting to know how they propose collecting it.