I'm not sure there's any possible interpretation of the Ireland elections, where Sinn Fein did so well, will lead to Ireland seeking closer relations with the UK. Northern Ireland might well unify with the South though. That does seem much more likely.
Borrow and Spend Budget
- Thread starter SirGalahad
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It may have sounded like I was saying the demise of Leo was down to him overplaying his hand on brexit, that wasn't my intention. Sinn fein did well because of unaffordable rents for young people, austerity etc.
What I am saying, is that since Irish independence, their has always been a level of dependence on the UK, and a close relationship which is how my parents came to settle in this country, after the banking crash, the UK immediately transferred cash to Ireland, long before the EU put its hands in it's pockets.
What I'm saying is that Ireland would do well to consider where the majority of it's trade lies, and which direction would be best for them in the future.
Varadkar was a strong Europhile, his successor might not be.
but you're right, if Sinn Fein are calling the shots, they will be wanting re-unification, which doesn't bode well, too many people don't want it, but, like brexit, it has to be their decision.
D
Deleted member 18243
We do not have a conservative government, we have, and have had, loony left leadership for years. The present government is the Tony Blair continuity party.
B
Bodd
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Dublin's economy is based on serving American Tech firms and providing a gateway in to Europe. But mostly its a gateway in to the UK. Many Tech firms still route sales tax to Dublin and still have large inside sales teams based in Dublin.
we dont have a government at all.
just a load of entitled people with their hands in the sweetie jar
all this carp about 'will of the people' is just manipulating people to vote for them -the reality is the public are being used for for a Tory coup
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On maturity the principal is repaid. lol
https://www.dmo.gov.uk/responsibilities/gilt-market/about-gilts/
Conventional gilts also have a specific maturity date. In the case of 1½% Treasury Gilt 2047 the principal will be repaid to investors on 22 July 2047.
So if the debt was never repaid then it would accumulate and accumulate and not fluctuate from 80% to 250% then backdown. You have just argued against yourself again with your links. This must be the umpteenth time lad.
Keep safe.
We know you do.
As much the same has happened in the USA as has happened to the UK over the same period people are inclined to think of that must be the EU's fault as well.
Most of Brexit really is down to Farage's wish to break up the entire thing not just get the UK out of it.
LOL Brown said long ago - It's no good we need to spend money on the infrastructure. As Corbyn mentioned the only outfit that can do that effectively is the Gov who have no money so would need to borrow it. Anyone who did it would be borrowing and Gov has the advantage of the lowest possible interest rates. This area touches on why some countries are renationalising utilities - those private company debt levels are escalating and competition just isn't working.
That wasn't my link, I was just quoting from it.
So, I get what you're saying that the debt would accumulate, but, if gdp increases at a faster rate, doesn't the debt (as a percentage of gdp) shrink, isn't that what the govt hopes for.
After WW2 debt was nearly 250% of gdp, today, it's a little over 80% of gdp.
The amount of debt after WW2 was 21 billion, today it's 1.7 trillion.
It's a ponzi scheme.
https://neweconomics.opendemocracy.net/magic-money-tree-dont-let-politicians-tell-otherwise/
Do you consider that a good or a bad thing?
Your link says this:
"The “magic money tree” attack is simply a convenient way to mask an ideological crusade to shrink the state."
So if the articke, youve quoted, is correct then it proves there was no need for 10 years of austerity due to the Tory governments policied at all.
And you blamed it on the EU.
I'm not really sure, it sounds like a bad thing thing, on the other hand, what would we do without it.
Notch, you know I've spoken up against austerity in the past, I believe I said you can't create growth by shrinking an economy.
I quoted the relevant paragraphs of the Maastricht Treaty where there are guidelines for debt to gdp levels etc, which as a country, we adhered to. Make of that what you will.
I thought (perhaps incorrectly) that governments used inflation to reduce the real scale of debt.
As an example, the house I paid £50k for in 1996, and sold on in 2004 for £140k, was sold in 1972 for less than £3k.
I suppose your £21 billion to £1.7 trillion is along the same lines.
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