General politics discussion thread

[Mr.Showtime]

I've always liked Ed in interviews while he was doing the Energy lark, but he's got a hell of an upward struggle. Ed Balls is a prick but Miliband is gonna have to use him to his full prick-ish potential while taking it to the coalition government.

[Carbomb]

Will agree with that. If there's someone you want for a hatchet-man, I don't think you need to look further than Ed Balls. I suppose every party needs a bastard (well, a bigger bastard than the rest of them).

[Yoghurt]

IMF backs coalition spending cuts

 

George Osborne: "I'm determined that we don't turn back"

 

The International Monetary Fund (IMF) has said the UK economy is "on the mend" and has backed the coalition government's plans to cut spending.

 

The IMF described the deficit reduction plan as "essential" in supporting the UK's debt position, and said it "supported a balanced recovery".

 

The body also said that the UK economy would continue to recover at a moderate pace while the cuts were implemented.

 

The IMF predicted growth of 2% in 2011, rising to 2.5% in the medium term.

 

That marks a small revision downwards from an earlier forecast of 2.1% growth in 2011.

 

"Economic recovery is underway, unemployment has stabilised and financial sector health has improved," the IMF said.

 

It acknowledged that the spending cuts designed to reduce the government's budget deficit would hit growth, but it said that the economy would continue to recover.

 

"Fiscal tightening will dampen short-term growth but not stop it as other sectors of the economy emerge as drivers of recovery, supported by continued monetary stimulus."

 

It also said companies were starting to increase investment as "the demand outlook strengthens".

 

Consumers, it added, would remain "thriftier" than they were before the financial crisis, but would be in a position to "gradually raise their consumption as labour markets recover".

 

The body also forecast that inflation would fall back below the target rate of 2% by early 2012.

 

The rise in VAT to 20% in January would ensure that inflation remains above target next year, it said.

 

Reacting to the report, Chancellor George Osborne said the IMF's support showed the government had "won the argument" on deficit reduction.

 

"It's a welcome endorsement of [our deficit reduction plan]," he said in an interview with the BBC.

'Downside risks'

 

"The IMF has joined us, the Bank of England and the Confederation of British Industry in saying that what we are doing is right."

 

"It also reminds us that if we divert from the course that the new government has set out, then we will be heading back into a disastrous period of economic instability for Britain, and I'm determined that we don't turn back."

 

Despite the upbeat assessment of the UK economy and the government's plans to cut the deficit, the IMF warned that "downside risks are also sizeable".

 

These risks, it said, included continued fragile confidence, weakness in the housing market and a greater impact than expected from spending cuts.

 

"Another extended contraction in output cannot be ruled out," it said.

 

That reflected the argument made by Labour politicians that the speed and depth of the government's planned cuts would put the UK's economic recovery at unnecessary risk.

 

Ed Miliband, the newly-elected Labour leader, has called the previous government's plan to cut the deficit by half over four years "a starting point".

 

Source: http://www.bbc.co.uk/news/business-11419937

 

 

I don't think there was ever any doubt the intellectual heavyweights were going to back the necessary spending reductions, they don't come more credible then the IMF, I'm glad we have people in the right places who see the bigger picture, who are at least trying to bring us back from Labours runaway train profligate spending that bankrupt the country. It's a shame it has to happen, but for us to remain viable as a nation we must and the people who can influence it realise it beyond doubt.

[David]

You'll find that these "intellectual heavyweights" who back the spending cuts are usually the people who won't really be affected by them either.

[Kenny McBride]

The IMF aren't "intellectual heavyweights" by definition. They're ideological neo-liberals who insist on absolutely minimal public spending and absolute maximum privatisation. They've used their immense leverage to force numerous developing countries to privatise vital infrastructure (like water) and tend to make low taxation and privatisation conditions of their "assistance". Whether we need 25% cuts in public spending or not (and I really, really don't think we do), the backing of the IMF is hardly a surprise, nor is it "proof" that the Tories are doing the right thing.

[Kenny McBride]

Edit: Double post.

Edited September 27, 2010 by Kenny McBride

[Georgie Pin]

It's going to be a difficult path to follow. Ireland have followed the same route of huge spending cuts and tax increases and their economy has just fallen back into recession.

 

I've just rejoined the Labour Party for the first time since the Thatcher years. Fuck knows why - I'm just naively hopeful the party might remember where it came from I suppose.

Edited September 27, 2010 by Georgie Pin

[The King Of Swing]

Whenever I read or hear "intellectual heavyweights" I always end up with a mental image of someone who is totally disconected from the real World.

[David]

Ireland have followed the same route of huge spending cuts and tax increases and their economy has just fallen back into recession.

Which is what will likely happen here as well.

[Yoghurt]

Ireland have followed the same route of huge spending cuts and tax increases and their economy has just fallen back into recession.

Which is what will likely happen here as well.

 

Because their entire infrastructure was build on sand, and ridiculous borrowing, something we in the UK who understand reality would like to avoid. I'm personally glad the people with the power are doing exactly what is necessary.

[David]

I'm personally glad the people with the power are doing exactly what is necessary.

They're doing what most of us expected would happen if the 'Tories got in.

 

They're attacking the unemployed, the disabled, the vulnerable and the working class in order to pay for the mistakes of the banks, whilst completely ignoring the fact that if their friends actually paid the same rate of tax as the rest of us we wouldn't be in such a position.

 

It's easy to do what is supposedly necessary when none of what you're doing is going to affect you or your family.

[patiirc]

They're attacking the unemployed, the disabled, the vulnerable and the working class in order to pay for the mistakes of the banks, whilst completely ignoring the fact that if their friends actually paid the same rate of tax as the rest of us we wouldn't be in such a position.

 

 

Yo, squire.. What's this mythical different rate of tax all the rich pay whilst us proles suffer?

 

As I've said before, culmalatively those earning more will pay more into the system than the poor ever will same rate of tax on a higher amount means more tax going in to coffers. But apparently this is not good enough ( as some people buck the system, and I spose scrotes dont?) and creates social injustice.

 

Change the Record or come up with better arguments!

[Carbomb]

They're attacking the unemployed, the disabled, the vulnerable and the working class in order to pay for the mistakes of the banks, whilst completely ignoring the fact that if their friends actually paid the same rate of tax as the rest of us we wouldn't be in such a position.

 

 

Yo, squire.. What's this mythical different rate of tax all the rich pay whilst us proles suffer?

 

As I've said before, culmalatively those earning more will pay more into the system than the poor ever will same rate of tax on a higher amount means more tax going in to coffers. But apparently this is not good enough ( as some people buck the system, and I spose scrotes dont?) and creates social injustice.

 

Change the Record or come up with better arguments!

 

Wait a minute. David's already stated that the amount of money received from those in high tax brackets is nowhere near as much as it's supposed to be. Until you refute that argument, or come up with a better argument yourself, I don't see why David should "Change the Record".

 

What is it with all these defenders of the status quo all of a sudden?

[Yoghurt]

They're attacking the unemployed, the disabled, the vulnerable and the working class in order to pay for the mistakes of the banks, whilst completely ignoring the fact that if their friends actually paid the same rate of tax as the rest of us we wouldn't be in such a position.

 

 

Yo, squire.. What's this mythical different rate of tax all the rich pay whilst us proles suffer?

 

As I've said before, culmalatively those earning more will pay more into the system than the poor ever will same rate of tax on a higher amount means more tax going in to coffers. But apparently this is not good enough ( as some people buck the system, and I spose scrotes dont?) and creates social injustice.

 

Change the Record or come up with better arguments!

 

Indeed, Labour created [Just one piece of a very large pie] created too many public service jobs, they put nothing into the economy, even accounting for their tax they are a massive net loss on the country as their entire wages are already tax. There's a reverse snobbery that we must attack people like bankers, middle class business owners and the people who contribute money into the economy and help it grow effectively. The public services are absolutely necessary, but they are bloated and it's breaking the country.

 

That isn't saying Bankers aren't cunts, because they are, they also contribute an enormous amount of wealth to the country as a whole, far, far more than any other industry.

[SpursRiot2012]

I personally just dislike David's whole "expected this when the Tories got in" thing. So, were the rich paying that extra tax they should be paying under Labour then? Some people just have an issue with the Tories based on the fact that they are the Tories. No open mind whatsoever.