The Budget - good, bad or indifferent?

[Marmora Man]

So far I've just caught the headlines - but it doesn't appear too inspiring. Careful use of slightly inflated growth estimates enabled Mr Darling to predict better tax revenues and lower cyclical costs over the next four years (did he really believe his own estimates? Most experienced commentators estimates of growth are well below his). The "help for British industry" seem pathetic and, altho' the pacing of the fuel escalator tax rise is welcome, as is the stamp duty holiday on purchases up to ?250K carrying on with NI rises will not help business grow or develop.

[Brendan]

I think, as we all expected, it?s a budget designed to win votes. Trouble is most people only look at how it will affect them directly and not into the deeper implications for business.

He wasn?t going to please everyone but he cleverly realised that there are a lot more voters out there who are worried about being able to house their families or afford to travel to work than there are voters who are worried about being able to leave more than ?1m to their kids or protect their bonuses from tax.

[????]

Not much he could do really - room for manouevre etc.

Nice to see that one of the things that got us into the mess in the first place hugely overpriced assetts (er, our homes) are being encouraged to stay overpriced.

[Peckhamgatecrasher]

Help for entrepreneurs seems an oxymoron.

[peckhamboy]

Judging by the take-up on this thread, generally indifferent seems to win out. How about a one-off tax on MPs - that would have caught the public's imagination...

Can't help feeling that it's a bad budget for London, and a bad budget for families. The stamp duty thing is purely political, designed to try and win votes, but is simply storing up and exacerbating the very problems that Labour blame for the whole mess the country is in now. And ultimately will have the effect of further pricing first-time buyers out of the market. To be fair, Darling has done his best to make a silk purse out of a sow's ear and whilst I don't like the man I'm starting to think he's a much better Chancellor than Gordon ever was (and less hung up on class issues). I feel a little sorry for him - as Osborne pointed out on the news this morning, "we all know that Darling is not going to be Chancellor for long, whoever wins the election".

[Brendan]

???? Wrote:

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> Nice to see that one of the things that got us

> into the mess in the first place hugely overpriced

> assetts (er, our homes) are being encouraged to

> stay overpriced.

Problem with that Quids is the huge portion of the Banking sector and subsequently our economy that is supported by how much money we owe ourselves (our banks) according to how much we say our houses are worth.

So the amount of money a person has to owe a bank in order to have a roof over their head has gone up by 200% in the last 10 years and this was one of the major factors in the banking sector continuing to ensure economic growth. If this (completely sustainable and flawless cash cow) went away we would have to find something ridiculous like maybe producing something to make up for the short fall.

Well that and it may well banjo the buy-to-let portfolio?s of our MPs. And we couldn?t have that.

[????]

Oh I know that Brendan, no-one can afford to let it topple...let's hope we don't have a currency crisis or interest rates will go up and there will be carnage. Longer term we're just going to have to inflate our way out of the stupid asset bubble or creep along like Japan with minimum economic growth, no inflation, static prices.

[Brendan]

Or actively try to create wealth through other means and buy ourselves out of it.

[????]

yup - and something to take away much of our talent from the casino over the river there. Almoste heresy for me but I think the government should do more to encourage and support this. eg in renewables or whatever.

[woofmarkthedog]

Well....

IMHO...Tick Tock...

We are running dangerously close to an election & the chancellor is "looking at the clock " as it were

http://www.seriouseats.com/images/20090105_artisanal_cheese_clock.jpg

But did you hear "Boy George" Osbourne on BBCR4 this morning ? he was doing a verbal "balloon dance" with policy or lack of it

"I'm not showing you anything on here" or words to that effect.

For christ sakes is that meant to be the "opposition"

Though had he mentioned the "cider tax"....

Then I'd probably "consider" voting for him

"Flim flam"

W**F

[Loz]

Debt = money. The more debt (i.e/ mortgages) there is, the more money in the economy.

A simple cartoon explanation at

, if you have a spare 47 minutes. Quite eye-opening.

[Brendan]

Makes perfect sense. What could possibly go wrong?

[Brendan]

On the political side of this. The conservatives have said that they will publish an emergency budget within 50 days of being elected.

What do you think the chances are of the public seeing this emergency budget before the election so that we can make up our own minds on which we would rather have?

Not that I?m even considering voting for either of them but it may well be a very rare opportunity for an electorate to have the political parties throw their cards on the table and spare us having to sift through the bullshit in order to get a blurry glimpse of what either of them are planning.

[Mick Mac]

John Smith tried the pre election opposition budget thing one year - I think it backfired - from memory but not sure.

[????]

Rearrange the following Brendan "Hold dont breath your". As I'm currently inclined to vote for Thingy what are his and Vince wotsinames plans too?

[Brendan]

No fuking idea mate.

At the moment Vince from wotchamacallit has this to say, "The Liberal Democrats have made it clear that the point at which we cut spending will be based on economics and not political dogma.

"While Labour buries its head in the sand and the Tories mire themselves in confusion, only the Liberal Democrats have produced a credible and coherent plan for dealing with the deficit."

Which sounds suspiciously similar in style if not content to the bullshit from the conservatives.

I?m not sure how politicians expect people to trust them if they aren?t willing to be honest about what their plans are.

[Brendan]

Although I think they do have this, ?Clear and coherent plan? published on their website somewhere but I can?t find it.

[woofmarkthedog]

Brendan Wrote:

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> What do you think the chances are of the public

> seeing this emergency budget before the election

> so that we can make up our own minds on which we

> would rather have?

__________________________________________________________

Errm...

Less than Zero ?

Is there a risk/chance scale that goes below that ?

Like for instance.....

Say if I jump off "The Hoover Dam" whilst encased in a concrete suit, my chances of survival are of course "ZERO"

Why ?

Because "The Hoover Dam" & concrete actually exist

But the "Emergency Budget" ? That doesn't "actually" exist, does it now ?

I mean there's probably a folder at Tory HQ marked "Emergency Budget" which is used as a prop, to be carried into meetings.

Then when "Boy George" Osbourne sees himself in the Press carrying said file, he's deluded into thinking

" Well I can see a file right there under my arm, so the Emergency Budget does exist, see "

Really though, the chances of seeing it are "Less than Zero"

In the real world....( wherever that is ?) http://www.starlinetours.com/images/LasVegas/HooverDam-Front.jpg)

W**F

* sketches dog shaped "concrete" suit*

[Jeremy]

http://www.hastingsarchitectural.com/images/statuary/animals/0375.jpg

[woofmarkthedog]

Oh Jessica...

I'm so touched

When I'm dead it will give my wife & children great comfort, I'm sure.

(I said WHEN btw)

Grrr

W**F

*Love this budget clip/stuff from Osborne though..*

http://news.bbc.co.uk/democracylive/hi/house_of_commons/newsid_8585000/8585888.stm

[Brendan]

???? Wrote:

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> Rearrange the following Brendan "Hold dont breath

> your". As I'm currently inclined to vote for

> Thingy what are his and Vince wotsinames plans

> too?

Your breath don't hold.

Why? What doesn't it hold?

[katie1997]

Great - large percentage of Whitehall to relocate outside of central London over the next ten years.

[SimonM]

On the political side of this. The conservatives have said that they will publish an emergency budget within 50 days of being elected.

Of course they will. It is a great Brirish electoral tradition. And a budget of this kind is always prefaced with words to the effect "Gosh the previous lot left a far bigger mess than even we imagined, so I'm going to have to cane you even more. Not our fault though, obviously"

[MrBen]

Peckhamgatecrasher Wrote:

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> Help for entrepreneurs seems an oxymoron.

Why do you say that PGC? There surely has to be some incentive for taking often significant personal and financial risk to start an enterprise that generates corporation tax, vat, and NI contributions. And, most important in a recession, new jobs no?

[Peckhamgatecrasher]

Don't make me justify myself after I have taken wine!

An entrepreneur by definition makes his own way with either good or bad rewards. He doesn't do it for any altruistic reason but to make a profit, therefore, why should a government aid him?