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Borrow and Spend Budget
- Thread starter SirGalahad
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Temporarily. You don't thing Ireland will be daft enough to stay in the EU do you?
And what normally happens on the maturity dates?
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Please tell me.
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I asked the question.
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Incorrect you made the claim that the money is not paid back.
So prove it. Dont shy away now.
That might have been the reason they voted for him. Or it might be that a large portion of them always have and always will vote Tory. Or it might just be the result of throwing a lot of dice.
One of the downsides to elections as a way of deciding things is that it isn't clear how much of a vote is for a particular policy of a party or person.
For Uxbridge the Labour vote didn't change much but he picked up the UKIP vote as they evaporated. He hasn't done much better than the previous Tory candidate, John Randall. Although since he's been the candidate there the Labour vote has skyrocketed, presumably in part due to tactical voting.
Or in short: it was a safe seat before he got there, slightly less safe now but historically very Tory.
The proof is simple, the debt is still there. Had it been paid back, it wouldn't be would it?
If China buys govt debt in the form of bonds, interest is paid, on maturity? I suppose a transfer might happen, but then new bonds are issued to cover that, so how is that being paid back?
With QE, it's even more fun, bonds are bought by the Bank of England, but who owns the Bank of England? that's right! so you're lending money to yourself, and if you decide not to pay it back, what do you do? give yourself a slap around the face?
What's Govt debt now? 80 odd % of gdp, after the 2nd world unpleasantness debt as a percentage of gdp was 250%, and yet money was found to instigate a massive building programme of council houses and the formation of the NHS, has that debt ever been paid back?, or has GDP increased to a level where the percentage of debt to gdp is less significant?
Yep, paid
No, not paid. Your link states that some debts including US war loans were repaid, but debt as a percentage of gdp has never, since the first world unpleasantness, been below 29% .
That's far rom repaid.
So are we still paying off the debts from the Napoleonic war as well? Of so then can we blame the debt on Napoleon?
Aha! It's all the EUs fault!
I don't know, but this is what your link says about UK debt.
The history of the British national debt can be traced back to the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt, which evolved into the Bank of England. In 1815, at the end of the Napoleonic Wars, British government debt reached a peak of £1 billion (that was more than 200% of GDP).
At the beginning of the 20th century the national debt had been gradually reduced to around 30 percent of GDP. However, during World War I the British Government was forced to borrow heavily in order to finance the war effort. The national debt increased from £650m in 1914 to £7.4 billion in 1919. During World War II the Government was again forced to borrow heavily in order to finance war with the Axis powers. After the war the debt gradually decreased as a proportion of GDP, but in the 1970s, following a Sterling crisis, the British Government was forced to seek help from the International Monetary Fund (IMF).
As the 1980s and 1990s progressed, the proportion of debt to GDP fluctuated up and down according to how the wider economy was performing, remaining relatively constant during the early 1980s recession, falling in the latter half of the decade, and rising again as the early 1990s recession reduced tax receipts. In the late 1990s and early 2000s the national debt again dropped in relative terms, falling to 29% of GDP by 2002. After that it began to increase, despite sustained economic growth, as the Labour Government led by Tony Blair increased public expenditure. By 2007 the national debt had increased to 37% of GDP. The deficit continued to grow and, following the Great Recession beginning in early 2008, both government borrowing and the national debt have risen dramatically, reaching around 70% of GDP
Deluded.
Utterly deluded.
The border issues GB - NI will cause a lot of disruption, theres no way the sh1tstorm will be a seller. Trade will move EU bound
Maybe I am Notch, maybe I am. But the situation in Ireland isn't looking too rosy and despite being a full member of the EU and the Eurozone, they are still hugely reliant on the UK, both in terms of trade and energy.
Leo Varadkar overplayed his hand massively, he was voted out. I haven't checked the Irish news recently but last time I looked they were still unable to form a government.
Any disruption to their trade with the UK will mean they will require a massive bailout from the EU, I really don't think the EU can afford this.
Look, I'm not trying to gloat about the position Ireland and the EU find themselves in, I have family links to Ireland. I just genuinely believe, that it would be in Irelands best interest to leave the EU, and forge close ties with us.
We can help them, we've got a magic money tree.
Yes but look at that election, brexit barely featured. Sinn Frin offered left wing anti austerity manifesto.
No effort made by the Tories so far - they are sticking with the dishonest position of refusing to admit there will be border checks and different regulatory zones - thats stopping any solutions being set up.
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