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Irrelevant Nick KP

Conservatives out there, what's the British economy like?

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I've got one question which I'm going to ask twice to Conservatives, but others may also answer it (them).

 

1. WHat is the state of the British economy? (after Gordon Brown's premiership)

 

2. What is the state of the British economy? (Britain being outside the Eurozone, unlike Greece)

 

(I get the impression that those 2 backgrounds, tend to drastically affect the answer to the question. esp. by Conservatives)

Edited by Nick-Kielce-Poland

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I've got one question which I'm going to ask twice to Conservatives, but others may also answer it (them).

 

1. WHat is the state of the British economy? (after Gordon Brown's premiership)

 

2. What is the state of the British economy? (Britain being outside the Eurozone, unlike Greece)

 

(I get the impression that those 2 backgrounds, tend to drastically affect the answer to the question. esp. by Conservatives)

 

fuck off

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I've got one question which I'm going to ask twice to Conservatives, but others may also answer it (them).

 

1. WHat is the state of the British economy? (after Gordon Brown's premiership)

Gordon bailed out the banks and printed lots of extra money (£200bn i think). I was a fan of neither. Recovery is going to be slow because the banks are being unreasonable with small businesses, first time buyers and people with low-to-no equity.

 

2. What is the state of the British economy? (Britain being outside the Eurozone, unlike Greece)

Interest rates are low in the Eurozone, so no difference.

 

(I get the impression that those 2 backgrounds, tend to drastically affect the answer to the question. esp. by Conservatives)

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Letting people buy houses they shouldn't be able to "afford" would be a mistake anyway. Look where the Blair-era housing price bubble has left us.

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To some extent the retail banks can't win - they are told to increase lending but irresponsible lending was a root course of the shitstorm in the first place.

 

I think some sort of gaurantee to look favourably on "worthy" applications is the way forward.

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Letting people buy houses they shouldn't be able to "afford" would be a mistake anyway. Look where the Blair-era housing price bubble has left us.

 

The issue before was banks were selling risk, so didn't care. Now they are taking none.

 

For example I have equity in my house so the bank will happily lend me anything I want regardless if I can afford the repayments. Whereas my brother who has been renting for five years at £550 at month can't get a mortgage of £550 a month.

 

Business loans are even worse.

 

A national bank is the only long term solution.

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Letting people buy houses they shouldn't be able to "afford" would be a mistake anyway. Look where the Blair-era housing price bubble has left us.

 

The issue before was banks were selling risk, so didn't care. Now they are taking none.

 

For example I have equity in my house so the bank will happily lend me anything I want regardless if I can afford the repayments. Whereas my brother who has been renting for five years at £550 at month can't get a mortgage of £550 a month.

 

Business loans are even worse.

 

A national bank is the only long term solution.

 

is the cycle turning back to cheap affordable council houses I wonder ?

 

All Thatchers fault.

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I dont know why everyone gave Nick grief for this thread. Its a very important topic.

 

http://www.guardian.co.uk/politics/2011/ju...over-low-growth

 

... to stay on course with budget forecasts the chancellor needed Tuesday's crucial GDP figures for the second quarter of this year to show growth of 0.8%.

 

However, experts believe growth will be anaemic at best – coming in at 0.1%, according to the respected National Institute for Economic and Social Research – and some City forecasters even suggest that the economy may have contracted during the spring.

 

Clee, where are you? :icon_lol:

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You could have made a grand on that Chez, if you didn't back out with your, "I'll have to think about it," line.

True but it would have been unfair on the poor wee lad. His pocket money cant be much more than a tenner a week.

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I dont know why everyone gave Nick grief for this thread. Its a very important topic.

 

http://www.guardian.co.uk/politics/2011/ju...over-low-growth

 

... to stay on course with budget forecasts the chancellor needed Tuesday's crucial GDP figures for the second quarter of this year to show growth of 0.8%.

 

However, experts believe growth will be anaemic at best – coming in at 0.1%, according to the respected National Institute for Economic and Social Research – and some City forecasters even suggest that the economy may have contracted during the spring.

 

Clee, where are you? :icon_lol:

:icon_lol: I feel like I do every year believing Newcastle will do better than they did the year before B). Kudos :happygirl:, what is my forfeit?

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I dont know why everyone gave Nick grief for this thread. Its a very important topic.

 

http://www.guardian.co.uk/politics/2011/ju...over-low-growth

 

... to stay on course with budget forecasts the chancellor needed Tuesday's crucial GDP figures for the second quarter of this year to show growth of 0.8%.

 

However, experts believe growth will be anaemic at best – coming in at 0.1%, according to the respected National Institute for Economic and Social Research – and some City forecasters even suggest that the economy may have contracted during the spring.

 

Clee, where are you? :icon_lol:

:icon_lol: I feel like I do every year believing Newcastle will do better than they did the year before B). Kudos :happygirl:, what is my forfeit?

Results aren't published till tuesday. I think the average prediction amongst the banks is 1.4% or something, coming in at 0.8% is still below where Osborn reckons it should be. My prediction is that 0.8 is ambitious but he might sneak it. Anything below that or even negative will spell disaster for the austerity drive. An ambiguous 0.5 will see us muddle along.

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According to the Office for National Statistics, the weak GDP growth was influenced by one-off factors such as the Royal Wedding, Olympic ticket sales, record warm weather in April and the Japanese tsunami.

 

^_^

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