Westminster Politics 2024-2029

M16Red said:
I don't know how old you are, but back then 2008 when we bailed out the banks our deficit was huge.

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In other words the Torries was left with a credit card bill of an ungodly amount and gap of funding of 10% for the bill, when Labour talk about a black hole - it's not a black hole it's a gap, because it's Q3 of the financial year meaning the end of year isn't even over.

I'm sure Labour will fix a lot of things, but the lies they are using isn't a good look so early.

By the way that pandemic jump down the year after is very interesting, because it an Indicator of quantitative easing (printing money) which in turn lead to Inflation because of the supply and demand of money we had more of it.
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I'm old enough to have experienced it first hand. And mature enough to understand that a national budget isn't the same as a fecking credit card. And that quantitative easing does not equal printing money. And that inflationary costs are due to a complex web of factors, including things like the price of grain.
 
Bert_ said:
I'm old enough to have experienced it first hand. And mature enough to understand that a national budget isn't the same as a fecking credit card. And that quantitative easing does not equal printing money. And that inflationary costs are due to a complex web of factors, including things like the price of grain.
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If you are, you'd known the budget and borrowing are two completely different thing.

I called it a credit card because there is interest rate attached to the borrowing and the deficit was the gap in between in budget spending allowance and the cost of servicing the debt.

Frosty said:
Piggybacking on this, Richard Murphy's writings on this are by far the most accessible.

Here is one example: https://www.taxresearch.org.uk/Blog/2024/05/01/inflation-always-goes-away/.

But Mazzucato, Piketty, Blanchflower and others have done similar work.
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See he covers the 1998 handover of power to the Bank of England, have controlled interest rates since 1998 - I do wonder if labour will try to get this power back.
 
M16Red said:
If you are, you'd known the budget and borrowing are two completely different thing.

I called it a credit card because there is interest rate attached to the borrowing and the deficit was the gap in between in budget spending allowance and the cost of servicing the debt.
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A budget takes into account borrowing. They are not completely different things at all.
 
M16Red said:
See he covers the 1998 handover of power to the Bank of England, have controlled interest rates since 1998 - I do wonder if labour will try to get this power back.
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That'd be.... Risky.
 
Jericholyte2 said:
Aren’t Labour also the Party of universal FSM?
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I’m guessing starve line is referencing this

The latest official two-child benefit limit statistics, published a fortnight ago, revealed a record 1.6 million children in the UK were living in families affected by the policy last year, an increase of 100,000. The Food Foundation tracker found hunger was significantly more prevalent in larger families.

https://www.theguardian.com/society...child-benefit-limit-more-likely-to-skip-meals
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Sweet Square said:
I’m guessing starve kids line is referencing the two child benefit cap policy.
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But then they keep a pre-existing benefit and introduce a new policy to feed children.

I’d say that’s a net positive, right?

Plus, if your posting about them starving kids, you can’t really keep it to a single non-policy, when the policy that they introduce is going to expand FSM to nearly 200,000 kids.
 
Frosty said:
To be fair she has been campaigning hard on only cutting the payments to trans pensioners.
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:lol:

Starmer should just tell her that Judith Butler is against not freezing pensioners to death and Duffy will make sure every household is below zero degrees celsius by November.
 
This is an indication of the scale of corruption relating to the Tory government Covid PPE contract awarding.
And as usual, we are all paying for that.

https://www.bbc.co.uk/news/articles/cevj3y7n33vo


An anti-corruption charity says it has identified significant concerns in contracts worth over £15.3bn awarded by the Conservative government during the Covid pandemic, equivalent to one in every £3 spent.
 
Buster15 said:
This is an indication of the scale of corruption relating to the Tory government Covid PPE contract awarding.
And as usual, we are all paying for that.

https://www.bbc.co.uk/news/articles/cevj3y7n33vo


An anti-corruption charity says it has identified significant concerns in contracts worth over £15.3bn awarded by the Conservative government during the Covid pandemic, equivalent to one in every £3 spent.
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I am awaiting Laura Kuenssberg's next column demanding we hold the current government to account for this massive fraud.
 
M16Red said:
But I wouldn't worry too much about this socialist government doesn't what anyone to own anything, they want us all to rent.

I think the states have large rental management block like Gray Star that hold a large number of housing and control rental costs.

If the word private investors start to be aligned with housing, then we are in a bad way
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https://www.proactiveinvestors.co.u...t-in-major-housebuilding-venture-1055756.html


Lloyds Banking has also been moving into housing via its residential landlord arm, Citra Living, which has built up a portfolio of over 2,000 rental properties across the country via partnerships with housebuilders.

A strategic partnership was formed with Barratt in August 2021 that has seen Citra buy more than 1,500 homes from the developer.

Just brilliant...
 
Let's build lots of shit quality new houses, that our hedge fund overlords will then rent to you for extortionate amounts.

Feckin communists.
 
M16Red said:
https://www.proactiveinvestors.co.u...t-in-major-housebuilding-venture-1055756.html


Lloyds Banking has also been moving into housing via its residential landlord arm, Citra Living, which has built up a portfolio of over 2,000 rental properties across the country via partnerships with housebuilders.

A strategic partnership was formed with Barratt in August 2021 that has seen Citra buy more than 1,500 homes from the developer.

Just brilliant...
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That's been the plan all along? The government wants to use private industry to fund all these ideas because they worked so well last time...

Luckily there's not the men nor materials to meet current housebuilding targets let alone the new ones so we'll be saved from that bit of incompetence by another bit of incompetence.
 
Frosty said:
That is true, and the BoE are economically orthodox about these matters. I would question that, but perhaps that is an issue for another thread.
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The BoE's main job is to hit the government target for inflation, not anything else economically outside of issuing bonds and the like. The only thing I can think of that they could have done was to hike rates even more at the start to slam the brakes on, but I think they did a decent job of mapping out the peak without having the rates get anywhere near 80's / 90's levels.
 
Prisoners being released early today because the jails are full.
 
TheGame said:
It's fecking scandalous how the issue wasn't addressed by the previous Government and more Prisons built. You just lose all faith in the justice system, what a joke.



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But that's not a failure of the justice system, it's a failure of government. In the same way it's not the NHS failing because of waiting times.

You can't apportion blame on to an entity that has clearly been underfunded and ignored for over a decade.
 
TheGame said:
It's fecking scandalous how the issue wasn't addressed by the previous Government and more Prisons built. You just lose all faith in the justice system, what a joke.



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It’s not just that there aren’t enough prisons, the focus on punishment instead of rehabilitation under the conservatives is/was also part of the problem. And some people just shouldn’t be send to prison but because there’s no funding for doing something else with them that’s where they end up, and then end up in and out of prison
 
Balljy said:
The BoE's main job is to hit the government target for inflation, not anything else economically outside of issuing bonds and the like. The only thing I can think of that they could have done was to hike rates even more at the start to slam the brakes on, but I think they did a decent job of mapping out the peak without having the rates get anywhere near 80's / 90's levels.
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Its also important to remember that the BoE is not actually independent. It is wholly owned by government, and when the government needs something done, it can still order it to be done. That is how the banks were bailed out in 2008.

The whole 'independent' narrative is simply a device to allow politicians to blame 'market forces' for decisions they don't want to take responsibility for.
 
TheGame said:
It's fecking scandalous how the issue wasn't addressed by the previous Government and more Prisons built. You just lose all faith in the justice system, what a joke.



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There is a prison not too far away from me that had millions spent on it a couple of years before it shut a decade ago and despite being sold is still sat there doing nothing. It has the capacity to hold 300 inmates. Another site not too far away that has been shut for a similar length of time but still has full time security staff and other staff working there, could hold 600 and there is another in the county that holds 500 that is still there but not in use to hold prisoners.

The capacity is there if someone in Government decided to put them into use again.
 
cj_sparky said:
There is a prison not too far away from me that had millions spent on it a couple of years before it shut a decade ago and despite being sold is still sat there doing nothing. It has the capacity to hold 300 inmates. Another site not too far away that has been shut for a similar length of time but still has full time security staff and other staff working there, could hold 600 and there is another in the county that holds 500 that is still there but not in use to hold prisoners.

The capacity is there if someone in Government decided to put them into use again.
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If I was being charitable i'd be making an assumption that those you mention are probably not fit for purpose and old Victorian prisons?

With stuff like this though I just can't help but suspect a movement of money. I wonder how many prisons closed over the last decade have been government run and how many of the new ones contracted to private firms or built by private funding.
 
Smores said:
If I was being charitable i'd be making an assumption that those you mention are probably not fit for purpose and old Victorian prisons?

With stuff like this though I just can't help but suspect a movement of money. I wonder how many prisons closed over the last decade have been government run and how many of the new ones contracted to private firms or built by private funding.
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One was built in the 50's, had new blocks built in the early 2000's and was due to undergo a refurb around 10 years ago but shut. Although the capacity was around 200 not 600.

The other is on a historical site, but from doing work within the facility a few years back it is very modern inside especially the plant rooms. It is essential a lot of different buildings constructed from again the early 50's to the mid 2000's.

But one is Victorian yes.
 
Jericholyte2 said:
But that's not a failure of the justice system, it's a failure of government. In the same way it's not the NHS failing because of waiting times.

You can't apportion blame on to an entity that has clearly been underfunded and ignored for over a decade.
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Yep agree but I have concerns around the general justice system as well which is also a failure of Government.
 
Nogbadthebad said:
Its also important to remember that the BoE is not actually independent. It is wholly owned by government, and when the government needs something done, it can still order it to be done. That is how the banks were bailed out in 2008.

The whole 'independent' narrative is simply a device to allow politicians to blame 'market forces' for decisions they don't want to take responsibility for.
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The BoE is independent but naturally was in constant dialogue with the Treasury through 07-08 - Darling talked a lot about it.
Ask Truss if the Bank is independent- the bailout after her Budget totally screwed her.
Similar to the Fed in the US and Trump getting really pissed off Powell wasn't cutting rates.
 
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