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[Meadows]

Thankfully Clegg is getting a kick up the arse from back benchers. 21 MPs wrote to him telling him that they would rebel if he tried to push through the legislation.

He also gave an absolute rejection of the "behind closed doors" court cases, saying that he couldn't support it.

 

[Brera]

No, Boris is far, far more intelligent that Cammo. Of that there is little doubt. They are both supremely smart, but Boris definitely has the edge.

So the lefty metropolitan city that is London elected a Tory toff mayor born with a massive silver spoon at a time when unemployment was rising remorselessly. Boris got into power in London because he is a massive personality who people can associate with. The problem with Dave is that he tries to come across as squeaky clean but it is patently clear that he isn't, while Boris doesn't bother because he knows he isn't. He has a level of honesty that other politicians should strive for, that he is going into the London mayoral elections on a platform of ticket price rises should tell you more than enough about honesty. In any case, Ken was the odds on candidate to get a third term and is a banker bashing communist who lost to a Tory toff. Boris has a wide appeal amongst so many groups and it bears out in the polling, among Labour and Lib Dem voters Boris picks up 3/10 first preference votes while Ken gets just 1/10 votes of Tory and Lib Dem voters.

You might hate Boris (and I don't really get it, he has actually done a pretty good job and I love the driverless trains idea) but there is no denying his popularity with the people of London. When he came in Labour and other assorted lefties were going on about how he would destroy the city with divisiveness, when in fact I feel like London is stronger than ever. One last reform he needs to make is to the Met but that is no easy nettle to grasp.

Totally agree with you here.

With Boris, what you see is what you get. He tells it like it is. I'm no tory voter, i'm hardcore labour but I would take Boris over Ken any day.

Probably my most favourite politician. I agree that he is much more smarter than CMD and expertly plays on the fool persona. So under rated but I think that's his gameplan.

 

[Meadows]

http://www.bbc.co.uk/news/uk-17609171

 

[twobear]

We talked ourselves into a Q4 contraction, lets see if we can avoid that fate for Q1...

Totally absurd. We were led into Q4 contraction by awful economic policy.

Perhaps you should recommend to your 'government contacts' that copies of The Secret be doled out to the populace. You're clearly enamoured with the power of positive thinking, it would make a fine investment.

Actually it might be worth it, it'd probably be more effective than anything Gideon's tried so far.

 

[SteveWD40]

Edit: damn, link fail

 

[Bo-Locks]

You should really just chill the fuck out and cool the rhetoric a little bit. The US Poligaf thread is thataway.

 

[twobear]

You should really just chill the fuck out and cool the rhetoric a little bit. The US Poligaf thread is thataway.

Why? I could pretend that I think the government's 'reforms' are a good and important thing for our country and that their economic policies are a first rate success, but I think their reforms are damaging society and their economic policies are a first rate failure. And the fact that people are defending both or claiming that we should be level-headed about these things is something I find infuriating. It's this false notion whereby to have truly profound deep thoughts we must always find the good and the bad in everything. Bugger that for a laugh.

If you don't want to read it I'll stop posting in this thread, though. To be honest I already get enough opportunity in my day life to vent my opinions on this government's myriad failures.

I'll probably end up as one of those ranting socialists trying to hand out socialist pamphlets to people in city centres with Cameron and Osborne's faces photoshopped into the devil.

 

[SteveWD40]

Why? I could pretend that I think the government's 'reforms' are a good and important thing for our country and that their economic policies are a first rate success, but I think their reforms are damaging society and their economic policies are a first rate failure. And the fact that people are defending both or claiming that we should be level-headed about these things is something I find infuriating. It's this false notion whereby to have truly profound deep thoughts we must always find the good and the bad in everything. Bugger that for a laugh.

If you don't want to read it I'll stop posting in this thread, though. To be honest I already get enough opportunity in my day life to vent my opinions on this government's myriad failures.

I'll probably end up as one of those ranting socialists trying to hand out socialist pamphlets to people in city centres with Cameron and Osborne's faces photoshopped into the devil.

You are aware that there are opinions that might differ from your own and still be valid right?

 

[Bo-Locks]

Why? I could pretend that I think the government's 'reforms' are a good and important thing for our country and that their economic policies are a first rate success, but I think their reforms are damaging society and their economic policies are a first rate failure. And the fact that people are defending both or claiming that we should be level-headed about these things is something I find infuriating. It's this false notion whereby to have truly profound deep thoughts we must always find the good and the bad in everything. Bugger that for a laugh.

If you don't want to read it I'll stop posting in this thread, though. To be honest I already get enough opportunity in my day life to vent my opinions on this government's myriad failures.

I don't want you to stop posting and I apologise if I come accross as being needlessly confrontational, but I think it was Steve who said a couple of pages ago that there are some people who seem to be clamoring to post negative economic news (and then go quit when good news does come through). I don't mind it when it's justified, it can just become very grating after a while. I also cringe whenever I look at the US poligaf threads and see how partisan/polarised they have become. Quite frankly, we're better than that.

I just don't want to see this thread become a cesspool of Red vs Blue, Labour vs Tory bullshit.

 

[SteveWD40]

I just don't want to see this thread become a cesspool of Red vs Blue, Labour vs Tory bullshit.

The laugh with that would be how similar our party's all are, you could swap half the MP's out from each and they would still be exactly the same. Labour and the Lib Dems have plenty of elitist wankers and the Con's have members who are very liberal.

 

[twobear]

You are aware that there are opinions that might differ from your own and still be valid right?

Sure. I'm not sure what gives you the idea that I don't think other peoples' opinions might be valid. I guess the bit about not pretending that there are good and bad sides to everything?

But there are some things we dress up as opinions which are just facts that we express as opinions so that when we're wrong we can fall back on 'well that's your opinion and I have mine'.

For example, if people support policies that increase income equality, and say 'well I just don't think there's anything that bad and it has no effect and it's just my opinion', well look here's a bunch of studies that demonstrate that in fact relative income quality is a bad thing for society: it makes people unhealthier, unhappier, less socially mobile, etc. So while they're entitled to their opinion, that income inequality isn't that bad and doesn't have much effect, they're wrong.

For example, I think it's just factually wrong to claim that a pessimistic attitude is what caused the economy to shrink in Q4 last year. I think it's factually wrong to claim that the Japanese earthquake and Royal Weddings caused it to shrink at the beginning of last year. I think that these are all excuses to make up for the fact that the government's poor policy is what did cause, and continues to cause, poor economic performance. And the longer we claim it's pessimism or lack of confidence, or whatever, that's causing economic doldrums, the longer we're making excuses for avoiding having to confront the fact that government policy is bad.

I can sit and pretend that these are good, constructive views of what's gone wrong, but I find that very difficult.

I don't want you to stop posting and I apologise if I come accross as being needlessly confrontational, but I think it was Steve who said a couple of pages ago that there are some people who seem to be clamoring to post negative economic news (and then go quit when good news does come through). I don't mind it when it's justified, it can just become very grating after a while. I also cringe whenever I look at the US poligaf threads and see how partisan/polarised they have become. Quite frankly, we're better than that.

I just don't want to see this thread become a cesspool of Red vs Blue, Labour vs Tory bullshit.

I don't think you're needlessly confrontational. In fact if there's anyone in the thread who's confrontational, it's probably me. I just really don't like the Tory party.

As for everything else in the thread, well, eh. I'm finding myself more and more disenfranchised with this country. I don't feel like I belong here any more and I don't feel like I want to stay here. I have nothing I feel proud of as a British person any more. Disliking the Tories is just about the only thing I stand for in British politics any more.

 

[Jackpot]

You should really just chill the fuck out and cool the rhetoric a little bit. The US Poligaf thread is thataway.

I don't see anything wrong with his posting style. I also wouldn't take zomg's economic conclusions verbatim anymore than the City bankers in thick with the Tories. His calculations, sure, but it's quite clear which side of political divide he favours. And his "inside sources" only ever seem to tell him things that are well-known already or things that turned out to be 100% opposite of what ended up happening.

 

[SteveWD40]

I don't think you have to be proud to be British to enjoy living here, it's all about how you look at things really. I hate most things that people are proud of here (football, vague nationalistic sentiment, Reality TV...) and the "great British public" read the Sun, so they can fuck off as well, but I have lived abroad as well and the grass isn't always greener.

Just surround yourself with people you like and do things you enjoy, lifes too short etc...

 

[twobear]

Just surround yourself with people you like and do things you enjoy, lifes too short etc...

This is what I do.

Actually, just last week I found out that there's a good chance I've gotten a grant to do a PhD so I can hardly complain I've got a miserable life.

I just find myself looking at happiness indexes and GINI coefficients and social mobility measures and seeing the UK doing worse than just about all of the rest of Western Europe and even the USA and man, that's depressing.

 

[defel]

Travel around the world and you will realise that we are incredibly lucky and have a fantastic life here in the UK. I dont think that any of us really want to live in the country with the highest GINI coefficient. There are so many things that we as Brits should be proud about and I think its a shame if you cant find any pride in your country. I have friends in Eastern Europe and the Baltics who have to put up with so much more shit than Ive ever had to.

 

[SteveWD40]

Travel around the world and you will realise that we are incredibly lucky and have a fantastic life here in the UK. I dont think that any of us really want to live in the country with the highest GINI coefficient.

This is exactly what travel taught me, fuck the stats, the surveys, the media drilling home their agenda of misery. The USA has better "stats" than us in a million areas, still a shitty place to live unless you are in the right part with plenty of money, tell me you would rather live in The Wire or Shameless?

Happiness indexes? no one can tell you to be happy or not, it's all bullshit, every last bit of it, I have seen kids living on poverty who were happier than the average Brit, we thrive on misery.

 

[twobear]

Oh right, don't get me wrong. I'm obviously enormously grateful to live in the UK for a whole plethora of reasons, such as being allowed to kiss someone I love in public without being executed, and being able to turn on the tap and have clean water come out and to not be starving all day. I don't want to pretend for a moment that any of these things are bad.

I'm talking more socially-politically-culturally.

 

[J Tourettes]

This is what I do.

Actually, just last week I found out that there's a good chance I've gotten a grant to do a PhD so I can hardly complain I've got a miserable life.

I just find myself looking at happiness indexes and GINI coefficients and social mobility measures and seeing the UK doing worse than just about all of the rest of Western Europe and even the USA and man, that's depressing.

I have similar sentiments, they're part of the reason as to why I'm doing my sparky stuff. If I want to emigrate, it seems to be a fuckton easier if I have a trade behind me. Not sure I definitely will emigrate but it's nice to have options. My bird has finally got fed up with London living :/ so a move will be on the cards at some point. If I'm going to leave London, I'd be up for leaving the whole country.

 

[SteveWD40]

Oh right, don't get me wrong. I'm obviously enormously grateful to live in the UK for a whole plethora of reasons, such as being allowed to kiss someone I love in public without being executed, and being able to turn on the tap and have clean water come out and to not be starving all day. I don't want to pretend for a moment that any of these things are bad.

I'm talking more socially-politically-culturally.

As am I, I am saying there is a lot of shit that comes with living in Germany, France, Australia, US, Canada that you never hear about, you just assume they must be much better than us cos "lolbritain".

My sister has lived in Sydney for 8 years now, is a citizen the lot, I lived there myself for a year, it's not anywhere near as nice as people make out, besides the weather ofc there is still loads of shit you never see till you stay still for a while, such as racisim, lack of social care (the mentally ill wander the streets for the most part), terrible mobility for the poor, especially if they are the wrong colour. Head out to Blacktown and the western suburbs and it's like you have walked into a Lebanese version of South Central LA.

 

[twobear]

As am I, I am saying there is a lot of shit that comes with living in Germany, France, Australia, US, Canada that you never hear about, you just assume they must be much better than us cos "lolbritain".

My sister has lived in Sydney for 8 years now, is a citizen the lot, I lived there myself for a year, it's not anywhere near as nice as people make out, besides the weather ofc there is still loads of shit you never see till you stay still for a while, such as racisim, lack of social care (the mentally ill wander the streets for the most part), terrible mobility for the poor, especially if they are the wrong colour. Head out to Blacktown and the western suburbs and it's like you have walked into a Lebanese version of South Central LA.

I'm not claiming other places are perfect, far from it, but statistically speaking we're lousy and getting worse.

 

[SteveWD40]

I'm not claiming other places are perfect, far from it, but statistically speaking we're lousy and getting worse.

Maybe that's my problem, I don't feel that way, you can pull a million pie charts out that say that's the case and I still won't feel that way. I don't even know what you mean by "we", there are what? 60 million people on this little rock, are we all "getting worse"?

Oh and grats on the PHD by the way

 

[zomgbbqftw]

The laugh with that would be how similar our party's all are, you could swap half the MP's out from each and they would still be exactly the same. Labour and the Lib Dems have plenty of elitist wankers and the Con's have members who are very liberal.

That's the fucking problem. The parties have one or two maverick politicians which are worth listening to, on the Labour side I have a lot of time for the likes of Frank Field and Kate Hoey, on the Lib Dem side I like Ed Davey, David Laws and a a few others, on the Tory side I have lot of time for Osborne and the other socially liberals types like Dan Hannan. I remember meeting Osborne a couple of years before he was Chancellor and he came across much better than David Cameron and the rest of the Tory leadership because he didn't give a shit about what people did in their private lives and only wanted to ensure that the public finances were returned to a decent state. He talked about supporting gay marriage and other socially liberal policies and you could see the blue rinse brigade were disgusted by it.

The one difference I saw between Lab and Tory was the libertarian streak that had thrived under DC after taking a beating under Howard, but the spooks seem to have got to them and now I see absolutely no difference between this government and Blair's government with the exception of well executed education reforms. Otherwise it is basically the same, authoritarian and economically liberal.

 

[SteveWD40]

If that's true about Osbourne then he just went up about 5 points in my estimation. I have nothing but hatred for people who think they can and should tell others how to live their lives, real honest to god hatred (I reserve it for them and people who walk in a row slowly on pavements).

 

[zomgbbqftw]

If that's true about Osbourne then he just went up about 5 points in my estimation. I have nothing but hatred for people who think they can and should tell others how to live their lives, real honest to god hatred (I reserve it for them and people who walk in a row slowly on pavements).

You should listen to him speak on policy sometimes, away from economics. The number one think I learned from him is that he really doesn't give a shit how people live their lives and what goes on in the privacy of people's homes should stay that way. I am told that he put the brakes on the snoopers charter yesterday afternoon and by the evening he had successfully killed it.

If people like us (socially liberal and fiscally conservative) have one ally at the top table it is Osborne.

 

[twobear]

Maybe that's my problem, I don't feel that way, you can pull a million pie charts out that say that's the case and I still won't feel that way. I don't even know what you mean by "we", there are what? 60 million people on this little rock, are we all "getting worse"?

Oh and grats on the PHD by the way

I think that this is a potentially irresponsible way of framing the problem. It quickly turns into 'well if I'm okay then I don't have a problem with the way things are'. I think that enlightened self-interest only goes so far.

I think that we have a responsibility to ensure that everyone in society is better off than they used to be; not just the richest, or the majority, or the middle classes. But I think that our society and culture at the moment is heavily skewed towards only making sure that these groups are better off.

 

[defel]

If people like us (socially liberal and fiscally conservative) have one ally at the top table it is Osborne.

I get the impression that David Laws fits into the same mold which is why I hope he gets back into the Cabinet soon.

 

[War Peaceman]

You should listen to him speak on policy sometimes, away from economics. The number one think I learned from him is that he really doesn't give a shit how people live their lives and what goes on in the privacy of people's homes should stay that way. I am told that he put the brakes on the snoopers charter yesterday afternoon and by the evening he had successfully killed it.

If people like us (socially liberal and fiscally conservative) have one ally at the top table it is Osborne.

This is the reason why I have a soft spot for Osborne.

 

[SteveWD40]

I think that this is a potentially irresponsible way of framing the problem. It quickly turns into 'well if I'm okay then I don't have a problem with the way things are'. I think that enlightened self-interest only goes so far.

That isn't what I was doing at all, I was raised by a single mother who had to become a dinner lady to have the time to look after me and my Sister, under Thatcher no less, if anyone has a legit reason to hate the Torys I am in that club, my mum was lucky she got any assistance at all, today she could have lounged on the sofa claiming £30k and not lifted a finger.

 

[zomgbbqftw]

I get the impression that David Laws fits into the same mold which is why I hope he gets back into the Cabinet soon.

Why do you think Osborne specifically requested Laws at Chief Sec? I heard that Nick Clegg wanted to deploy Laws elsewhere but Osborne insisted on having him in the Treasury.

 

[TCRS]

http://www.youtube.com/watch?v=c2wSLRHLM7Y&feature=player_detailpage#t=109s

Saw this yesterday on Sky News. Wtf hahaha.

 

[twobear]

http://www.youtube.com/watch?v=c2wSLRHLM7Y

Saw this yesterday on Sky News. Wtf hahaha.

I loved that.

 

[zomgbbqftw]

I didn't see it mentioned elsewhere, but housing equity withdrawal is still massively negative, Britain has collectively paid back £75bn worth of mortgages since 2008, this compares to £280bn withdrawn from 2000-2008. In Q4 2011 alone the country paid back £8bn worth of mortgages. Part of the reason the economic recovery has been so poor is that homeowners are paying their mortgages down at a record pace instead of pumping money out of housing equity into the high street. I think our days of a debt fuelled consumer bubble are over for good, it does mean we need another way of achieving growth which I think the government hasn't done enough on. More relief for investment and production is required.

 

[SteveWD40]

I didn't see it mentioned elsewhere, but housing equity withdrawal is still massively negative, Britain has collectively paid back £75bn worth of mortgages since 2008, this compares to £280bn withdrawn from 2000-2008. In Q4 2011 alone the country paid back £8bn worth of mortgages. Part of the reason the economic recovery has been so poor is that homeowners are paying their mortgages down at a record pace instead of pumping money out of housing equity into the high street. I think our days of a debt fuelled consumer bubble are over for good, it does mean we need another way of achieving growth which I think the government hasn't done enough on. More relief for investment and production is required.

Good.

I agree with you on the last part, that we need a stronger concentration on lending to new businesses and supporting growth in that area, but the debt fuelled bubble was a nightmare, it drove prices up to un-realistic levels (my first house I bought went up £30k in 6 months!) so it fucked over first time buyers.

People shouldn't be re-mortgaging every year to prop up un-sustainable lifestyles, I can't tell you how comforting it is when I see my mum or my in laws have paid off their mortgages, no need for them to fret in their old age, imagine if you still had £100k left on the house and you were near retirement...

 

[zomgbbqftw]

Good.

I agree with you on the last part, that we need a stronger concentration on lending to new businesses and supporting growth in that area, but the debt fuelled bubble was a nightmare, it drove prices up to un-realistic levels (my first house I bought went up £30k in 6 months!) so it fucked over first time buyers.

People shouldn't be re-mortgaging every year to prop up un-sustainable lifestyles, I can't tell you how comforting it is when I see my mum or my in laws have paid off their mortgages, no need for them to fret in their old age, imagine if you still had £100k left on the house and you were near retirement...

Yeah, we have been asking for more detail about the government's business liquidity scheme before we commit, but it looks interesting. I hear the idea is that the government will pump £20bn worth of lending towards safe companies freeing up money for banks to lend to companies with higher risk attached without having too harsh terms.

My dad is troubleshooting at a privately owned golf-course at the moment who are struggling to meet their rent bill and also want to take out a loan to build out a spa and hotel complex on their land. The banks won't lend to them at a reasonable rate so my dad has been brought in to sort out their spending and accounts so that they are able to borrow money from the banks, he has been looking into the government scheme and the golf-course's bank manager says that there is a good chance of them getting a loan at 5-6% once the scheme starts, but they need to borrow £3m with an 18-24 month payment delay so that the development of the spa and hotel complex can be finished before payments start. That's the kind of businesses the banks need to get lending out to.

People who borrowed the money to fund holidays and cars are as much to blame as the banks who lent them the money IMO.

 

[SteveWD40]

If your dad is struggling for the small ticket asset stuff let me know, I can fund equipment (catering / spa / gym), if the accounts are crap then maybe to the tune of about £100k. Small potatoes but it all helps

Oh and the £100m a month that my market lends to SME's doesn't even get counted in the stats.

 

[twobear]

People who borrowed the money to fund holidays and cars are as much to blame as the banks who lent them the money IMO.

I agree that they're to blame to some extent, but, as much to blame? Goldman Sachs was lending money and then making money betting the borrower couldn't pay it back. Borrowers were foolish, banks were actively immoral.

And now that the bubble's burst the banks have gotten away with it while the worst off in society are victimised as no-good benefit thieves who must be stopped at all cost and probably hanged.

[edit]The followup on this is that people go to banks for financial advice. Sure it's obvious to you or I that if you're borrowing enormous amounts of money to buy new cars you're probably living way beyond your means, but if the bank is actively encouraging that behaviour, most people aren't going to know better. It's not in the government's interests to admit they've let a bubble develop and it's not in most economists interests to admit it because neoliberal economists don't think bubbles can develop (lawl).

 

[zomgbbqftw]

If your dad is struggling for the small ticket asset stuff let me know, I can fund equipment (catering / spa / gym), if the accounts are crap then maybe to the tune of about £100k. Small potatoes but it all helps

Oh and the £100m a month that my market lends to SME's doesn't even get counted in the stats.

Yeah, my dad just wrote down £200k worth of equipment and has got all kinds of tax allowances on building maintenance for refurbishing the changing rooms and bar/restaurant. The problem they have is that without the spa and hotel complex the club doesn't make money so they have started looking at a debenture scheme so up to 200 members can pay £10k up front, the club has almost 1000 members and has close links to the black golfers association because the owner is very close to them. I think if they do it successfully they will avoid having to borrow too much from the bank...

 

[zomgbbqftw]

I agree that they're to blame to some extent, but, as much to blame? Goldman Sachs was lending money and then making money betting the borrower couldn't pay it back. Borrowers were foolish, banks were actively immoral.

And now that the bubble's burst the banks have gotten away with it while the worst off in society are victimised as no-good benefit thieves who must be stopped at all cost and probably hanged.

I have never agreed with bailing out the banks and felt that Northern Rock should have been allowed to go bankrupt. The government should have guaranteed people's savings and that's all. RBS and HBOS should have been broken up and sold off in bits to pay bondholders and shareholders once the savers had got their money back.

 

[twobear]

I have never agreed with bailing out the banks and felt that Northern Rock should have been allowed to go bankrupt. The government should have guaranteed people's savings and that's all. RBS and HBOS should have been broken up and sold off in bits to pay bondholders and shareholders once the savers had got their money back.

I wouldn't have minded bailing out the banks if we'd enacted punitive measures to punish the people responsible and to enact new legislation to prevent the same thing happen again. But instead the people responsible are given government advisory positions and no regulatory legislation is passed at all.

It's difficult not to feel as though we've been collectively hoodwinked.

 

[Xun]

Anyone watching the debate between the London Mayor candidates?

I vote Paxman.

 

[nib95]

I found Obama's new speech here to be loosely poignant with respect to the recent actions taken on by the Conservative government.

http://www.whitehouse.gov/photos-an...sident-obama-speaks-associated-press-luncheon

A lot of the things he said Republicans are planning or pushing to do (tax cuts to the rich, pushing costs on to senior's, cuts to things affecting middle clases and poorest etc) and the reasons they are and have been (in the past) so damaging to growth, economy, middle class etc, are exactly what our own government have been doing and done lately with recent political antics and the budget announcement here in the UK. Only not to the extremities proposed by the GOP.

Sorry state of affairs here at present and pretty weird hearing Obama nail each of these points. Don't think we can get rid of this government soon enough personally. Hell, the crazy Republicans in the US apparently now look to the Tories here for inspiration on policy making!

 

[SteveWD40]

A lot of the things he said Republicans are planning or pushing to do (tax cuts to the rich, pushing costs on to senior's, cuts to things affecting middle clases and poorest etc) and the reasons they are and have been (in the past) so damaging to growth, economy, middle class etc, are exactly what our own government have been doing

Our economy's are very, very different, requiring different approaches.

 

[zomgbbqftw]

Haha! If the UK was truly pursuing the same low tax agenda as the US republicans we would be in a world of shit. I have seen no attempt by any Tory to push a regressive tax system whereby the richest 1% pay a smaller proportion of their income in tax. In fact this budget made it much, much more difficult for, err, consultancy companies with a single employee to avoid paying income tax at 45% by widening the IR35 net.

Anyway, the index of production figures came out today and I think the ONS have done a spectacularly poor job of counting the leap day in Feb. They have a new method which basically takes the final deflated figure and multiplies it by 28/29, losing us that day. If not for that I think manufacturing production would have been +0.5% rather than -1.0%, and industrial production would have been +1.1% rather than +0.4%, either way they are an okay set of figures. I guess the leap day will be added into the final figures otherwise there is a day's output that is floating around that they won't be able to deal with.

Also no double dip, absolutely no chance of a double dip now, oil and gas production was up a massive 4.6% MoM and now with more favourable taxation coming through the rise can be sustained as more complex fields come online and decommissioning and flushing adds to industrial output. The government have also tentatively started commissioning gas fracking in Lancs against a few EU directives so expect some fallout about a year from now once the licences are awarded and the EU kick up a fuss.

Edit: Someone here has kindly pointed out that the UK is currently losing 8% of oil and gas output because of the shutdown of the Elgin/Franklin/Shearwater fields which will hit March industrial output figures quite hard. The leak has stopped but it will take 6-12 months for safety checks and such before the fields can be brought online again.

 

[SteveWD40]

Also no double dip, absolutely no chance of a double dip now

Yet if the now ridicule worthy OECD say there will be in Q2/3/4 it will not be questioned, instead the Guardian and various others will be on it like white on rice in a glass of milk on a paper plate in a snow storm.

 

[el retorno]

I found Obama's new speech here to be loosely poignant with respect to the recent actions taken on by the Conservative government.

http://www.whitehouse.gov/photos-an...sident-obama-speaks-associated-press-luncheon

A lot of the things he said Republicans are planning or pushing to do (tax cuts to the rich, pushing costs on to senior's, cuts to things affecting middle clases and poorest etc) and the reasons they are and have been (in the past) so damaging to growth, economy, middle class etc, are exactly what our own government have been doing and done lately with recent political antics and the budget announcement here in the UK. Only not to the extremities proposed by the GOP.

Sorry state of affairs here at present and pretty weird hearing Obama nail each of these points. Don't think we can get rid of this government soon enough personally. Hell, the crazy Republicans in the US apparently now look to the Tories here for inspiration on policy making!

As a US citizen who tries to follow UK politics your comparisions seem way too superfical.

In fact this budget made it much, much more difficult for, err, consultancy companies with a single employee to avoid paying income tax at 45% by widening the IR35 net.

How the hell is this kind of stuff even legal?

 

[Walshicus]

He talked about supporting gay marriage

Being best friends with Peter Mandelson would make any other position unlikely I'd imagine.

 

[JonnyBrad]

Seems to be a kerfuffle about whether Ken is going to declare his tax incomes, he promised he would and all the other candidates now have. Guido is stirring it up a lot on twitter atm.

 

[zomgbbqftw]

How the hell is this kind of stuff even legal?

It isn't anymore, people who run these "companies" have been given a year to dissolve them after that they will face fines and backtaxes. From 2013 onwards they will be paying tax at 45% like everyone else on PAYE tax. Again the budget was actually pretty good as it targeted tax avoiders quite well, not only for income tax, but property taxes as well so now the 0.5% stamp duty is increased to 12% on property "investments".

 

[Kentpaul]

looks like il come out on top with this tax situation.

love the government.

 

[Jackpot]

Remember Cameron saying our roads might be as good as our water suppliers if we sold them off?

http://www.metro.co.uk/news/894896-thames-water-tops-leaks-list-as-millions-face-hosepipe-ban

Thames Water, one of seven companies imposing a ban from Thursday, loses 665million litres of water a day.

The country’s biggest supplier, with 8.8million customers, tops the first leak table of British water companies based on figures from industry regulator Ofwat. Its 25.7 per cent leak rate is five times higher than the five per cent that will be saved by the hosepipe ban.

Thames’ leaks would fill Wembley Stadium every 36 hours.