January 25th, 2012

Chancellor Zero

Even if the GDP numbers are not entirely unexpected, they are still a failure, a failure to grow the economy. The deficit can only be paid down if the economy grows, we can’t borrow our way out of a debt crisis. It is time for a supply-side revolution, why is the government implementing a policy of selected regional enterprise zones, why not make the whole economy an enterprise zone? It was a mistake to hike VAT and it is a strategic error to burden industry with crushingly high green taxes and penal marginal income tax rates of over 50% discourage entrepreneurs from coming to invest in Britain.

If the government is going to miss the deficit target, and it is, miss it because the government slashed taxes to grow the economy. The international bond markets will forgive a finance minister with a growing economy who misses his deficit target, they won’t forgive a finance minister with a contracting economy in any circumstances. Chancellor Zero knows that with no growth there is no hope for the deficit.


156 Comments

  1. 1
    Issac Hunt says:

    Add a dollop of EU sovereign debt and fun times ahead.

  2. 2
    Tim says:

    The chancellor is completely out of his depth. Osborne out now!!!!

  3. 3
    Lord Wayne of Trombone says:

    The former Archbishop of Canterbury said Britain’s public debt, which yesterday topped £1trillion, was the “greatest moral scandal” facing the country. He added that the welfare system rewarded “fecklessness and irresponsibility” and fuelled a “poverty of aspiration”.
    The peers, some of whom quoted from the Bible during Monday’s debate on welfare reform, could not claim the “moral high ground”, Lord Carey said.

    quoted the bible?
    are you fucking mad?
    we need to get shot of these cnuts

    George O – simple – cut taxes, remove limits to enterprise.. I d hire tomorrow.. reward entrepreneurs instead of taxing their arses off.

  4. 4
    Quim says:

    Maybe they not implement the pay rise for scroungers and restore the personal allowance for everyone?

  5. 5
  6. 6
    Anonymous says:

    FLAT TAX!

  7. 7
    Hang The Bastards says:

    Tin hats on Lads !

    e are going to have to suffer hours of spouting chite “Too hard too fast” from Blinkey Balls

  8. 8
    Barry O'Barma says:

    Cut taxes. Cut foreign aid. Cut green bullshit. Cut EU contributions. Give 12 months’ notice of end to dole, benefits. Levy EU pensions, tax-free income. Invest in nuclear. Re-arm.
    In economic warfare, the deal is the same as real war: Guns or Butter. The economic choice of butter is killing the UK

  9. 9
    Ah! Monika says:

    Up late Bill. See previous thread

  10. 10
    Up sh1t creek says:

    To make regional enterprise zones is to target constituencies for votes. I thought anyone could work that out! Even mentioned in Yes Minister / Yes Prime Minister TV series.

    There is PLENTY that can still be cut from the public sector, but the government chooses not to. £100bn a year QUANGOS still hanging around like a bad smell, senior management in councils and council bosses have unlimited pay, getting paid more than the PM who is suppose dot run an entire country not just a little areas. Whitehall has little cuts in staff instead of routing the lazy people.

    Then there is the idiotic economic policy itself. Raping savers to bailout borrowers is plunging the UK ever further into crisis. In normal downturns savers spend not just to survive, but buy stuff they want at discount etc. – but it keeps an economy moving. With savers money instead going to feed the credit habit of feckless borrowers who have no money, the spending has stopped. Savers will not spend to save you now, we have had enough of propping you up.

    The UK’s housing market MUST collapse, it is unsustainable, propping up prices to stop negative equity is seriously harming the UK economy.

    The biggest problem is that Parliament is chock full of Keynesian idiots, happy to spend spend spend and steal from savers, while those that are MOST able to keep an economy moving are being destroyed – DELIBERATELY.

    Oh, and why would people trust politicians who aid and abetted the criminal bankers, where not one of them has been arrested for defrauding taxpayers.

    Until you get someone as chancellor AND Prime Minister with brains, the UK economy will continue to be forked!

  11. 11
    Cynical-old-bag says:

    Not entirely unexpected, but it’s what the government will do to put it right which is most important. They haven’t grasped the nettle just yet.

  12. 12
    Trinny says:

    It all started in America/Greece/Europe (delete as applicable)

  13. 13
    Tessa Tickles says:

    “quoted the bible?”

    It’s fucking scary, isn’t it? Who voted for these people?

  14. 14
    Ah! Monika says:

    Save a fortune. Don’t replace Huhne.

    Clock is ticking

  15. 15
    Drop a Daisy cutter on the BBC says:

    Has anyone else listened to the bollocks pumped out by Radio 5 over Scottish independence this morning? Nicky Campbell (a self confessed Scots nat) has been bigging up Salmond and distorting the facts and not asking the real questions.

    For example, Salmond states that Scotland will continue to use the English pound, yet how can he do this?

    For example suppose Scotland’s economy starts to tank badly and Salmond needs a bail out, who does he go to? The Bank of England? What if he goes to the IMF? If Scotland’s economy gets as fucked as Ireland’s or Iceland’s it could drag the English pound DOWN even though the fuckers north of the border are nothing to do with us.

    I can’t see how Scotland can get away with not having its own currency or reserves or its own central bank.

    Why is this not being addressed as fiscal self reliance is surely the bed rock of an independent nation, not the fucking national anthem?

  16. 16
    Gordon Brown says:

    Tax cuts take money out of the economy.

  17. 17
    Drop a Daisy cutter on the BBC says:

    I can fix the economy dead easy.

    1. Shut the BBC (gives everyone £145 back right off)

    2. Cut fucking spending and benefits to fat c u nt s with greasy hair who drop their stained knickers on a Friday nigh to breed yet another chav twat.

    3. Cut fucking taxes.

  18. 18
    A. W-Thompson says:

    Today’s Tesco money-saving tip!

    When planning to prepare a rich tasty gravy, its very important to include a good stock in your ingredients. I often take stock from Tesco which saves a lot of time and money at the tills.

  19. 19
    Boudicca says:

    Paxman conducted an excellent interview with Salmond on Newsnight last night- worth checking out.

  20. 20
    Boudicca says:

    Don’t give another penny to the EU.

  21. 21
    Nothing better to do. says:

    Georgie is just another big state know nothing. He’ll carry on talking the talk of cuts but doing as little as he can to actually cut anything. If you can find any difference between him and the socialists you’ll be doing well.

  22. 22
    Anonymous says:

    I don’t care whether we cut expense or increase expense as long as this country grows and create jobs. I don’t even care whether it is a right wing government or left wing government.

    Current government’s plans aren’t working things are getting only worse than before. We need change, Cameron, Osborne, Clegg and Alexander should be replaced as they are unable to help the country grow.

    I also believe taxes should be cut, there is no point in taking tax from a person and giving him / her benefits.

  23. 23
    Yvette says:

    I only wish I had to say that to Ed, but sadly …..

  24. 24
    Bishop Cnut says:

    Give all benefit claimants 100,000 pounds a year. Their expenditure will instantly revitalise the economy

  25. 25
    Tessa Tickles says:

    Salmond seems to be in the same puddle as those other political chancers, the LibDems – make lots and lots of wonderful promises when in opposition, but once you’re in power and your promises are put under careful scrutiny under the cold cruel light of day, it all goes to Hell in a handcart.

  26. 26
    Steve Miliband says:

    Cut fucking taxes.
    Of every £1 made by a small company how much ends up in the entrepreneurs pocket? Fuck all.

  27. 27
    morbidly obese Dave says:

    Bollocks fat bogtrotter boy, with your negative talk on Britain’s great economy! My hat maker was telling me only the other day that my head has increased 64% since May 2010!

  28. 28
    Drop a Daisy cutter on the BBC says:

    That as well also cut overseas aid

  29. 29
    Anonymous says:

    Bible says a lot of other things as well. What its view on having children by many fathers?

  30. 30
    Tessa Tickles says:

    And stop funding India’s space programme. And Pakistan’s nuclear arsenal.

    And that sodding railway.

  31. 31
    Taxfodder says:

    I COULD NOT AGREE MORE.

    Anybody who has run or been in business knows there is a point when its just not worth working your bollocks off with no or little reward.

    Why risk all you have so the government take the lions share not to mention landlords banks insurance and business tax all having a dip.

    The Government is where it deserves to be….in the shit and sinking.

    You can bet your boots if they get off their arse it will be too little too late!

  32. 32
    Anonymous says:

    It is not just him!

  33. 33
    Anonymous says:

    his country needs him… Bye Bye Nicky

  34. 34
    Sir Barrington Minge says:

    What?…I suppose you want BALLS in charge…

    Socialism is a mental disease and the Labour party is the asylum!!

  35. 35
    Boudicca says:

    +1

  36. 36
    Anonymous says:

    Might be progressive to current system as the supper rich doesn’t pay now.

  37. 37
    English and proud of it says:

    Wanker, fat scots wanker!!!

  38. 38
    shit PR man Dave says:

    Rejoice! Rejoice!

    UK 2011 GDP growth: +0.7%, Germany 2011 GDP growth: +3.0%

    That proves conclusively that Britain’s shit economy is all due to the fucking Eurozone and the fucking Krauts, and not due to the City bankers and their politician puppets who stole trillions of pounds! QED.

  39. 39
    Widescreen2010 says:

    Inevitable.
    The UK economy had been ‘growing’ on increased debt, both private and public.
    The bedt bubble is deflating, so we are returning to ‘normal’.
    There isn’t a ‘clever’ way to get out of it.
    This has to happen.
    While proper businesses continue to grow (mine is growing >10% pa), the recession in the sham side of the economy (which is huge) cancels-out that growth in the final figures.
    Simples.

  40. 40
    DANGER says:

    <> Dumbo, you are a dumbo…

    Did you predict this? No! And when it happens you act all surprised and call for supply-side reforms!

    It’s austerity, dumbo! I predicted it — because of austerity. Europe and the UK are entering a recession — because of austerity. The US is growing, albeit slowly — because the US is not doing austerity. It’s simple, dumbo!

    <> Dumbo, you are a dumbo…

  41. 41
    Mervyn, north London says:

    +1

  42. 42
    Munky says:

    Well fuck me ragged. HMRC posts results saying record tax take up by £1.5bn and the economy tanks.

    Who could ever have seen that one coming?? My two year old for a start.

    CUT BLOODY TAXES! Drop fuel taxes at the pump, cut the ridiculous green taxes on household fuel bills! Stop printing bloody money raise interest rates and get inflation under control.

    Muppets.

  43. 43
    Jasmin Alibi Cunt says:

    Stop giving scrounging filth handouts, and stop giving mansions to 12 kid Somalian fucks wot used to live in mud uts

  44. 44
    Widescreen2010 says:

    Don’t forget, that railway will be built by Tory party donors so it has to be built.
    Another ‘debt’ that has to be paid with taxpayers’ money.

  45. 45
    Shit poster says:

    UK 2011 GDP +0.9

    And the other Euro countries?

  46. 46
    Vince Cable says:

    As well as flats, what about my mansion tax?

  47. 47
    Peter Hain D.U.E.M.A Champion says:

    Good to see D.U.E.M.A back on form.

  48. 48
    sockpuppet #4 says:

    So the government borrows lots of money, and everyone is happy.

    And somehow, sometime, something magic will happen in a few years time that lets you pay the money off. On the horses perhaps?

  49. 49
    Rip van Wrinkle says:

    Wrong, wrong, wrong, wrong. Supply side reforms my arse. It’s got fuck all to do with entrepreneurs and a 50% tax rate. When you set up a limited company one of the advantages is to pay yourself by way of dividends/investment income resulting in at least part of your tax being paid via corporation tax. And, in any case, in the early years of building a business, any profit made is going to be reinvested into the business.

    Osbourne has simply got to cut INCOME TAX particularly on the low paid. He’s got to put money back in people’s pockets. More demand, more jobs.

    This is a DEMAND problem, NOT a supply problem for fuck’s sake.

  50. 50
    himindoors says:

    Frack Lancashire!

  51. 51
    sockpuppet #4 says:

    And thats got nothing to do with Germans just making stuff that people want to buy.

  52. 52
    Popeye says:

    Yes! Knock George ye armchair chancellors who with no responsibility, could do better.
    I’m glad it’s George in charge and not a Socialist loser.

  53. 53
    Lord Wayne of Biology says:

    technically a child can only have one father – it is biology.

    thanking you

  54. 54
    Up sh1t creek says:

  55. 55
    sockpuppet #4 says:

    There are resources in Oxfordshire too you know. Perhaps it needs doing there sooner rather than later, just in case it would do anything to make HS2 subside.

  56. 56
    The BBC says:

    Hurray…hurray……whooooppeeeee. At last we have the negative figures we so desperately wanted so we can trash Britain and the evil Tories.

    This is all Thatcher’s fault. Bring back labour and our gifted dear leader Ed.

    More champagne anyone?…

  57. 57
    Hang The Bastards says:

    There is more money in savings. If they raised the interest rates, these people would pay more tax.

    simples !

  58. 58
    Archer Karcher says:

    We are borrowing the best part of £450 million a day just to keep going and are paying £48+ billion a year in interest on what we owe.
    Nettles should have been grasped on day one and someone should have had the balls to say no more spending on shit that is of no benefit.
    Instead Osborne tinkered at the edges with even more Keynsian bollocks, and added to the burden with raised taxes and green subsidy garbage. Now of course he is wondering why everything is going tits up and scrambling around, what a tool.

  59. 59
    Fish says:

    Meanwhile the DT has uneathered an E-mail from Lord Owen in which he is caught plotting to bring down the Coalition and bring Labour back to power.

    He uses the National Death Service reforms as the vehicle to attack the Tories, mobilising it seems fellow peers including ‘Glenys’ (Kinnock?) who made the transition from school dinner lady to trougher in one easy jump.

    So that’s a non-elected Liberal DEMOCRAT trying to bridng down an elected governenment.

    Typical fucking socialist. http://www.telegraph.co.uk/news/politics/9037011/Lord-Owens-plot-to-topple-the-Coalition.html

  60. 60
    just an idea says:

    Let them build something useful instead.
    Causing untold damage to businesses,homes and beautiful countryside in order to shave a few minutes off a short journey is unforgivable.

  61. 61
    confused.con says:

    is guido saying “Balls is right “????

  62. 62
    Yvettes minge says:

    Speak for yourself, I’m loving it. Balls deep.

  63. 63
    Anonymous says:

    Funny how these old dinosaurs like Dr Death and Paddy Pantsdown have started crawling our from under their stones.
    Neither have any credibility whatsoever and I’d thought they were dead.

  64. 64
    Rip van Wrinkle says:

    We’re going into recession? We’ve been in a fucking depression since 2000. Yes, 2000.

    For the first 7 years, the depression was covered up by a credit expansion of monumental proportions; private, corporate and government. That credit found it’s way into one asset class – property – and everyone thought they were rich. Not into production, not into investment, just property. 2007 saw the explosion of the private and corporate debt bubbles, government ramped up borrowing to fill the hole and now the shit is hitting the fan.

    Only two ways out of this. Take the pain for eighteen months and rebuild from scratch. Or print money. Either way, Mr Average Joe and Mrs Average Jane are going to get shafted.

  65. 65
    himindoors says:

    I thought the Nimby concept is to make HS2 subside as much as possible? Whack! Two birds, one stone.

  66. 66
    Spartacus says:

    Agreed – we need Vince to take the reins

  67. 67
    Sophie says:

    This is like an ultra slow motion car wreck.

    Why have the Conservatives abandoned what they know to be right?:

    Low taxes

    Small state

    Close DFID

    Stop EU payments

    Leave Afghanistan

    Is it any wonder Tories in exile are flocking to UKIP?

    We are not going to rebuild the country & its economy by following the fiscal policies of Gordon Brown & Ed Balls.

    What is wrong with George & Dave? Any supporters of these clowns out there?

    Vote UKIP

  68. 68
    Gangsta boyakasha says:

    Nah mayt, as be gettin a new 4 be…probs new rover ranger init

  69. 69
    Sophie says:

    Agreed – but why are George & Dave following Brown & Balls fiscal idiocy to the letter?

  70. 70
    Rip van Wrinkle says:

    Oh yes there is. Control. Government control. You do as you’re told, you vote for us or we cut the lifeline.

    Power corrupts, absolute power corrupts absolutely.

  71. 71
    Spartacus says:

    It (delete as applicable) was all Thatcher’s fault

  72. 72
    bedwetter's nemesis says:

    2011 GDP:

    Austria +2.9%
    Belgium +2.2%
    Holland +1.8%
    Luxemburg +1.6%
    France +1.6%
    Ireland +1.1%
    Spain +0.7%
    Italy +0.5%
    Eurozone +1.7%

    Sweden +4.0%
    Poland +4.0%
    Hungary +1.4%
    Denmark +1.2%
    EU27 +1.6%

    USA +1.6%

    Let’s face it mate, UK’s a shithole, full of morons, run for, by criminals.

  73. 73
    Anonymous says:

    There are mothers in this country who doesn’t know which man is the father of their child.

  74. 74
    We've got OUR party back says:

    You’ve left Lord Kinnockio off that list

  75. 75
    simple science says:

    The irony in the name. Social democrat, as if one could possibly exist…

    NHS legislation? Yeah (bangs drums) we want MORE managers!!!!!

  76. 76
    Anonymous says:

    It really isn’t worthwhile working hard today, end of story. Why should I work hard and pay giant taxes so my neighbour with her housing benefit and 6 kids can benefit?

    Not any more.

    There really is a game change going on here now

  77. 77
    Anonymous says:

    There could be some other conservative as well like Davis Davis, Ken Clark or even Balls. Its hard to be worse than Osborne.

  78. 78
    Fat Cat Watch says:

  79. 79
    confused.con says:

    government spin is still crap…..

    “defecit from last government”….. eh “Labour legacy” name and shame…. so at next elections folks remember….

    Labour spin “too fast, too deep” still spot on.. only thing that is…. but they can spin! boy can they spin! and voters luv it – !!!!

    beware the id(l)es of march

  80. 80
    Legal crook says:

    Scots are always on the take.

  81. 81
    Up sh1t creek says:

  82. 82
    Grumpy Old Man says:

    If the DT has the story right, and that’s a big “If”, then Clegg should refuse Owen the Whip at the very least. Look for flying pigs as a Sign.

  83. 83
    Anonymous says:

    “flocking to UKIP”? Where and when?

  84. 84
    The BBC get's onboard Ed's Bandwagon says:

    Full steam ahead for Salford Quays…………

  85. 85
    Ed Nutsacks says:

    What do you mean “we can’t borrow our way out of a debt crisis” ?

    Of course we can – that is a key part of my cunning 5-point plan! Yvette and I discussed this the other night and we rolled with laughter that Osborne cannot see the light. Sell the country!!

    We agreed that Ed M is out of his depth and I’ll be taking over. The Labour Party will soon have a pair of Balls.

    UK debt – so what?
    More debt – doesn’t matter as nobody cares

  86. 86
    sockpuppet #4 says:

    And don’t even think about war in Iran.

  87. 87
    Charlie says:

    Here’s a good idea: reverse the 2004 tax on dividends for small businesses. It is a real disincentive to growth – and therefore empolying people… (yes – I run a small business)

  88. 88
    Anonymous says:

    Some flats are worth more than £2m.

  89. 89
    Ed the Axeman says:

    The former Archbishop of Canterbury said Britain’s public debt, which yesterday topped £1trillion.

    That’s just the borrowing bit.

    Add another 6 trillion for pensions.

    Not included, bailing out the feckless.

  90. 90
    Blackadder says:

    If we got shot of Huhne and his bloody windmills, and unsigned ourselves up for all this green stuff that costs both industry and the individual, we’d be doing ourselves a lot of favours. All the present green imposts have bugger all to do with little birds and bees and a great deal to do with a public and industrial subsidy to a number of smart operators who will make vast profits out of their useless schemes.

  91. 91
    Grumpy Old Man says:

    There’s a thing called self-respect, my friend. Why allow yourself to be brought down to the lowest common denominator?

  92. 92
    Ed the Axeman says:

    God help us if he does.

    Apparently he likes wearing the reins, and being disciplined.

  93. 93
    sockpuppet #4 says:

    I believe that some folks complained about cracks in their houses from the first TGV lines. Theres a real bonanza for lawyers there if theres fracking and HS2 in the same location.

  94. 94
    Yuk ... lager! says:

    I can’t believe it’s not Bitter.

  95. 95
    Archer Karcher says:

    Because they are merely errand boys, like the previous mob of Labour fraudsters, doing others bidding?

  96. 96

    Up very late!
    Only just got caught the train for PMQs.
    Someone give Neo a prod and get him to put the member’s lunch menu up so I can choose the nosh while i’m sitting here.

  97. 97
    Ed the Axeman says:

    Not any more.

    1 mother donates the egg.
    1 mother donates the genetic material
    1 mother is the surrogate.
    2 mothers adopt.

    Legally – 5 mothers.

    You can also have two or more fathers. 1 the sperm donor, 1 the legal parent. If that parent dies the child could be adopted, making 3 fathers

    You need to keep up with technology and the law struggling to keep up. ie. We need to get the money from one or more parents.

  98. 98
    Disliker of Bankers says:

    Drown Balls whatever happens.
    Osbore has always looked like a woman’s shoe salesman to me.
    Vince always looks like the man who can.

  99. 99
    Gordon Brown says:

    I am very good at ‘Cross Training’
    Rule 1 shout a lot
    Rule 2 Shout some more
    Rule 3 Throw a phone at them

  100. 100
    Ed the Axeman says:

    And how are they going to handle

    a) Barnett formula share of the debts
    b) Taking over the mess at RBS (Royal bank of Scotland), and HBOS (Halifax bank of Scotland).
    c) 50% of the workers working for the state.

    The sooner the UK is shot of the winging scots the better.

    Kick them out of the pound.
    Veto joining the EU.

    Unless they play ball on taking the mess with them

  101. 101
    Fish says:

    Right.

    Take a look at the graphs on this site – particularly those related to gross national debt.

    In particular, take a look at the Labour years. The economic legacy that the Tories left labour and the fact that they initially stuck to the Tory spending plans meant that in the early 80’s we were in fact paying down debt.

    That was the moment , in the early 90’s that the foundations for prospeirt could be built on. If the government held that course we would, like other economies, have weathered the banking storm – but the criminally incometent Brwon took another direction – took the economy into a series of defecits – building his client state.

    The increase in public debt was astonishing. Brown created an economy out of control. It will take 20 years to sort out.

    Gordon brown should be in prison.

    http://www.ukpublicspending.co.uk/spending_chart_1989_2010UKb_11s1li111mcn_G0t

  102. 102
    The Doddering Old Fart says:

    Parliament and the upper house is full of subversive treacherous shit like Owen and whoever are his paymasters. Not interested in whats best for Britain, just how do I fuck up whats here and working. Liars cheats and the thieves the whole fucking bent lot of them. Stop paying Europe 50 million a day, stop importing unemployable shyte from god knows where and stop sending benefits abroad to dependants of the scroundgers that have been let in. So endeth the lesson.

  103. 103
    Wikifax says:

    Time to increase foreign aid again methinks. Right Dave?

  104. 104
    Fish says:

    Sorry about the typos – editing is difficult at the moment – must try chrome

  105. 105
    Store Detective says:

    Come back Anthony, it was only a warning after the fifth time.

  106. 106
    Archer Karcher says:

    There is also a thing called piss taking and for the last fifteen years, governments have been doing it relentlessly.

  107. 107
    SpAd says:

    Spot on, Mr Wrinkle.

  108. 108
    jgm2 says:

    The self-respect cuts both ways. Why work like a fucking slave to hand over all your cash to crooks.

  109. 109
    Booby prize says:

    Remove the PIP implants from every council and from all Whitehall departments. Axe the QUANGOs immediately. They were given adequate warning to find another use for their talents.

  110. 110
    George Brown says:

    ‘It is time for a supply-side revolution…’ Yes, cut wages, cut purchasing power, cut demand, and put even more businesses on the scrapheap.

  111. 111
    Fish says:

    Sarah,

    Hope you are having a good time on the slopes….whilst the rest of us at home facing up to the consequences of your husband’s incompetence. What does it feel like to be living with the moron who destroyed the financial wealth of a great nation and the well-being of its people?

    Now fuck off and break a leg

  112. 112
    The General Public says:

    She really is is the most boring individual on earth.

  113. 113
    Here on Planet Earth says:

    Oh dear poor Sarah.
    How dreadful for her not being able to find a running machine in any of those ski- hotels….

  114. 114
    jgm2 says:

    0.2% of a total quarterly economic output of what, about 400bn? So 800 million quid of ‘negative growth’?

    Osborne will just ‘bring forward’ a couple of billion quid of spending this quarter – buy a few tanks or helicopters or a couple of hospitals and rig +0.3% of growth for this quarter. Way-hey – technical recession averted.

    Just you watch.

  115. 115
    Rumboid says:

    Finally you give Osborne & the coalition a kick in the pants. About time, Guido. The defunct Labour Party is a sideshow & you give it more attention than the coalition’s failures. Your financial instincts seem sound & make more sense in the short term (but green taxes once growth is established again, please) than anything Osborne is doing… starting with VAT…

    PS WHY has no tabloid jumped on your subsidised meals for MPs campaign???? They could easily get people agitated about it, as they should be. Makes me blud boil, m’lud.

  116. 116
    Edward speaks Balls says:

    Too far and too fast I TOLD YOU SO but you ignored my five point plan.

  117. 117
    The Cabinet Secretary says:

    So the UK economy is being run by a clown that spent his formative years consuming cocaine and shagging black whores.

  118. 118
    El Jezza says:

    Let’s see Flashman sort this one out.

    Silly sod.

  119. 119
    Rage Against the Political Elite says:

    Put the TAX up. Put the VAT up. Take more money out of the economy, so the Government can deploy more troops and spend more of our money abroad. Development AID, HA HA HA. Is it not kick back money into Swiss bank accounts from corrupt governments?? Just wondered. Scam merchants in Charge.

  120. 120
    Edward speaks Balls says:

    Too far and too fast I TOLD YOU SO!

  121. 121
    Bogeyman says:

    Which bits did they quote? A lot of if is pretty sound, you know. JC was no fool.

  122. 122
    Fish says:

    So who exactly would be UKIP’s Chancellor, Sophie? One of those UKIP fraudster MEPs sent to prison? You live in some sort of fantasy world

  123. 123
    Osama the Nazarene says:

    All your cash? A touch of hyperbole here, something of which Liebor are ALWAYS guilty.

  124. 124
    Me & Mine says:

    Dopey Sophie. YOU MAY GO (and take your half baked ideas with you.

  125. 125
    Major Eyeswater says:

    Yep, that’ll do it. A single universal tax rate of 25% for all income, capital gains, corporate profits, dividends etc with a £15k ish zero rate allowance. This should link up with the new single universal benefit for those on incomes below £15k. Reduce expenditure by obliging healthy welfare claimants to volunteer locally (+ leave the EU etc, natch).

    Or we can just keep on taxing the rich at 65%+ marginal rates (inclusive of both types of NI) and wondering why on earth the economy won’t grow.

  126. 126
    inside- out says:

    Surely a change of Chancellor would make no difference.Its not one man running the economy its hundreds of Civil servants,Osbourne is only the mouthpiece.According to interview I read in F.T weekend magazine he only drops in to Treasury for 2 or 3 hrs a day.He just lets No11 get on with it.

  127. 127
    Marmite says:

    Hear hear.

  128. 128
    Phil Officer-Stone says:

    Perhaps people are not aware of the fact that Cameron was indoctrinated at Oxford in PPE, so worships in the same temple as Balls and all the other pseudo-intellectual theoretical socialists. His book keeper, Irish George, read Modern History – mainly written by his tutors.

    People who advocate job creation are fantasists. Governments and politcicians do not create jobs. Inventing administrative posts in the public sector is not job creation, it is cost raising.

    The majority of jobs in the UK are created by small and medium size businesses which are created by, in the main, ambitious and independent individuals.

    Similarly, reliance on financial services as an ‘industry’ is delusional nonsense. Financial transactions do not add value to ‘products’. They merely re-organise them into more attractive ‘opportunities. In reality, they hide the risks and pass them on. At each stage, costs are added, not value.

    Value is added to materials by altering form or properties to make that material useful to people who are willing to pay for that usefulness.

    Thatchers government destroyed industry because she believed that the whole country could become rich by applying shines to the arses of their trousers sitting in meetings. This is, of course, utter shite.

    The stupidity of the Tories was compounded by the wickedness of Blair’s government that convinced themselves, and millions of idiots, that we could become a nation of wealth by managing and exploiting technology. This ignores the question of where the technology is made.

    In order to have technological advantage in the world market place, the UK would need to be training engineers and scientists, constantly to invent and develop technologies that less intelligent or well educated nations might wish to buy. Sadly, this ignores the fact that some research has shown that Asian people are significantly more effectively intelligent than European Caucasians. They are also much more willing to work very hard. So, we are double fucked.

    When considering the ‘progress’ that has been made by Tory and Labour governments in the field of education in the last 25 years, we see that we are thrice fucked. Selling qualifications as a lifestyle commodity has rather undone the ability of our graduate classes to engineer or science their way through the skin of a rice pudding. Those who have taught overseas students in our universities will have interesting insights into the quality of education in, for example, China and India. In short, they do in secondary school what our kids do in Universities.

    On the whole, I have reached the view, in this late stage of my life, that the real problem we face is that there is no part of human existence that is not thoroughly embuggered by the self selecting, lunatic, ego-maniacal political class.

    I keep trying to persuade the younger members of my family to learn metal craft, woodworking, plastering, carpentry, bricklaying or plumbing. They would become financially secure in very short order.

  129. 129
    Beverly Howells from Merthyr says:

    The DM’s worst rated comment on the £26,000 benefit cap. Read it and weep.

    I dont think this is enough. its disgusting. I have 9 children and no job, how am I supposed to clothe and feed them on this measly amount. Because Im a full time stay at home mum who also home educates as I refuse to send my children to a school where they have to compulsary learn the backward welsh languge, I dont have the time to go to a full time job. £26000 is pathetic Camewron. You try living on this.
    – Beverly Howells, Merthyr Tydfil, 23/1/2012 21:21

    Can’t be real, can it?

  130. 130
    Sophie says:

    Oh dear, the Cameroon liberal troll posse is getting very panicky now.

    Good.

    I remind you – Cameron could not win against McMental before we knew how weak is was.

    How do you think he will fair this time round?

  131. 131
    Tax Slave says:

    Errr, what is so dopey about low taxes, small state and looking after our own first?

    I think you need to go back to CiF.

  132. 132
    Sir Merv the Printer says:

    Well said. Q.E. will solve everything. Sign up for the S.S. Weimar now boys!

  133. 133
    Evil Landlord says:

    I think he is saying Balls is right after all – Balls the Messiah !!!

  134. 134
    M says:

    And thousands of us paying for them

  135. 135
    Robin Hood and Robbing You says:

    Cut taxes! No chance the so called best brains in the country are just coming up with new ways to scew business. Check out the plan from Nottingham City Council to tax working place parking! No mandate, no justification they just do it to fund a tram that can’t make money! Can’t be any truth in the rumour of the £50k bribe to all the key decsion makers I’m sure!

  136. 136
    Major Eyeswater says:

    And the capital to set up that company, where did that come from? If it comes from people who pay a top marginal rate of 65% including both sorts of NI how can you claim that tax isn’t slowing new business investment?

    I agree with you that the low paid should not be asked to pay income tax if they also receive benefits – why must we have a wasteful bureaucratic money-go-round?

    Flat taxes with a zero rate band set at £14k, in line with the new universal benefit. I’d
    make the flat rate universal too – 25% for all income, capital gains, dividends etc.

    Demand side timulus has failed around the world. It’s time we got Thatcherite on it.

  137. 137
    Major Eyeswater says:

    stimulus sry

  138. 138
    George Brown says:

    Twerp.

    ‘Ministers have underestimated the cost of implementing their “bonfire of the quangos”, the Whitehall spending watchdog has warned.

    ‘The Government said it would save the taxpayer £2.6 billion by 2014/15 by axing 262 public bodies in the biggest Whitehall restructuring for decades.

    ‘However, the National Audit Office (NAO) said the transition costs would be at least £830 million – almost double the £425 million ministers estimated when they launched the plan in October 2010. As a result, the Government will now have to find total savings of £3.5 billion if they are to meet the 2014/15 target.’

  139. 139
    Bamboo Harvester says:

    …feckless…bankers??

  140. 140
    Mando Lynne says:

    I’m pissed off, fed up seeing my hard earned savings completely down the shitter, get hold of Merv strip him of his knighthood and tell the bastard to get real and smell the coffee, put up interest rates tell those thieves at the banks they are already screwing everyone with exorbitant take it or leave it mortgage deals they have conned everyone into. The same goes for the credit card companies and cut fuel and corporation tax. Then it might instill some confidence.

  141. 141
    Pundit says:

    Time for drastic action. All public sector pensions capped at £15000 pa.

  142. 142
    DANGER says:

    That’s right, dumbo! The magic thing is wonderful economic growth. Government spends now, gets the economy going, and GDP growth is consequently strong enough to reduce debt/GDP even as debt grows. Just like after World War 2. You think this magic thing can’t happen, but it’s happened before. Dumbo!

    http://www.ukpublicspending.co.uk/spending_chart_1800_2011UKp_11s1li011lcn_G0t

  143. 143
    The Golem says:

    +1 Dave and George could just be following orders, of course. When these islands are reduced to a state of ruin, where else will our politicians take us but into serfdom under the despots of Brussels.

  144. 144
    DANGER says:

    Hello dumbo!

    Not into production? Here is US industrial production between 2000 and 2007: http://research.stlouisfed.org/fredgraph.png?g=4wN

    Not into investment? Here is US corporate investment in equipment and software (i.e. not property!): http://research.stlouisfed.org/fredgraph.png?g=4wO

    Only two ways out of this? What about the fiscal stimulus way? Why isn’t that a way? Because “the shit is hitting the fan”? Great argument, dumbo.

    [Sings] Dumbo, you’re a dumbo…

  145. 145
    I hate Blue Labour says:

    Osborne is the very definition of a boy to do a man’s job.

  146. 146
    The Doddering Old Fart says:

    Perfectly correct. Well said.

  147. 147
    Victoria Derbyshire says:

    I’ll join you soon after take-off.

  148. 148
    sanelynch says:

    Did Ed Balls write this piece?

  149. 149
    Rob Roy says:

    I have never heard a Scottish MP quoting Wordsworth on St George’s day.

    Fat boy Cameron just could not resist and this will be part of his own plan for our independence as even the Glaswegians will have spotted his mealy mouthed comments.

    Us Scots are not always on the take.

    We had a sound and tested Banking system until it was raided by Halifax PLc and Nat West with leveraged money provided by the English City of London.

    You are going down. Don’t rely on the Scots to save you.

    your days of inflicting misery on us are coming to an end.

  150. 150
    Vraiment incroyable says:

    What transition costs? Giving Ministers back the responsibilties for which we pay them?

  151. 151
    Thomas from Tonna says:

    19 of 57 PMs have come from Eton including the present PM.

    the current UK opposition cites Keynes as the way forward.

    Keynes went to Eton too!!

  152. 152
    Widescreen2010 says:

    From the Beeb:-
    ‘The UK government has failed in an appeal against a decision which blocked its attempts to reduce solar power subsidies.’
    So, more taxpayer money into the sham economy.

  153. 153
    Tra Li says:

    And Brazil’s space programme.

  154. 154
    Sick of the UK says:

    Yep! That’s the last 25 years.

  155. 155
    Trevor from Treherbert says:

    when the Soviet Republic went bust they said this:

    ‘ Comrades the handouts stop on Monday’

    and now they own half the Premier League

  156. 156
    bill hague's bitch says:

    fcuking incompetent government: they come over here, ruin our economy, take our jobs, shag our men. they should go back to eton.


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