The Budget

[Easy-X]

https://i.imgflip.com/98fsam.jpg

None of it really surprising seeing as it was all leaked in advance
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Royal Enfield Continental GT 535, Husqvarna Vitpilen 401, Yamaha XSR700, Honda Rebel, Yamaha DT175, Suzuki SV650 (loan) Fazer 600, Keeway Superlight 125, 50cc turd scooter

[Polarbear]

Surprised nothing on fuel, but then that would be a tax on the working man.

I'm no accountant and I'm sure Nobby can elaborate without getting on his lefty horse but how the fcuk can you change the fiscal rules to borrow billions and get away with it. Debt is debt and has to be paid back.

Will hit me with my stocks and shares but then I'm not a working man according to Labour.

Oh, and rum will go up
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Triumph Trophy Launch Edition

[Nobby the Bastard]

Its the difference between resource and capital expenditure.

You don't get into long term debt to pay your day to day expenditure but you do to build infrastructure.

In simple terms it's the difference between paying your electricity bill and buying your house.

She has committed to using only tax receipts for resource expenditure but has chosen to recognise more things as assets on the capital side.

Remind me just how much national debt has increased over the last 14 years. The tories have been building debt to pay for the resource stuff.

I recommend you read up on the Hoover Dam and why it was built if you want to poo-poo capital expenditure being funded knowing a debt will be incurred.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Triumph Sprint ST 1050

[Polarbear]

I get your points but what I don't understand..............

As of the end of the 2023/24 financial year, the UK's public sector net debt was £2,690 billion, or 98% of the country's gross domestic product (GDP). This is equivalent to around £37,900 per person in the UK.


As of June 2024, Germany's government debt is 61.9% of its GDP. In the first half of 2024, the general government's financial deficit was 38.1 billion euros, which was 1.3 billion euros lower than the same period in 2023.

I'm sorry, we are fucked iuf we can't lower that. That is horrendous debt.
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Triumph Trophy Launch Edition

[Kawasaki Jimbo]

[Nobby the Bastard]

It did jump but then had a steady steep increase afterwards.

https://www.statista.com/statistics/282647/government-debt-uk/

TBH, the jump is relatively insignificant compared to the sub prime crisis where the banks needed bailing out.

The moral of this story is doing the socialist thing is cheaper than fixing the problems that the capitalists cause.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Triumph Sprint ST 1050

[Polarbear]

[Kawasaki Jimbo]

I see the NHS got a raise without any reforms. We can’t keep throwing money at it.

I’m not convinced of the value of HS2 either but it seems to be back on the agenda.

I’m amazed fuel wasn’t targeted.

[Polarbear]

[Nobby the Bastard]

[Polarbear]

As an accountant, If someone came to you with debt of £2,690 billion (i.e. £2.6 trillion), or 98% of GDP. and wanted more money would you give them billion dollar loans? I expect Barclays would refuse me 6d and a packet of whatsits because my income is a bit shit.

To me, it's just playing with figures. If I owe £50, I have to pay it back. I honestly can't see how this country can ever pay back what it owes. It's frightening for our kids to have this debt.

And I'm not having a go at any particular party here, they are all guilty of racking up the money. It seems that 5 year segments are not good for planning the country's future.
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Triumph Trophy Launch Edition

[Nobby the Bastard]

if, however, the imagined person asking said 'I want to create an asset which will in turn have a vlue of this that I can pay for during it's 50 year life time' thats how capital assets are funded.

Do you really think that house building companies are building them using their own money? They are building those estates on the promise that they will recover the money when they sell the houses they build.

Thats why so many went to the wall when the sub prime issue collapsed the market. Building houses are multi year enterprises so are classed as capital expenditure.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Triumph Sprint ST 1050

[Polarbear]

I'll take your word for it. Your the money man, I'm not.
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Triumph Trophy Launch Edition

[Diggs]

[Easy-X]

We're getting onto macro-economic stuff here. Echoing previous comments: resource expenditure is doing your shopping. You'd probably pay for that in cash or slap it on your credit card. Capital expenditure is buying a house or a car. Most likely you'd get a long-term loan as you're unlikely to have so much cash lying around and you'd be daft to stick it on a credit card even with a high lending limit.

Reassessing what you pay for with cash, trying to use the credit card less and getting long-term loans set up for things you really need all makes perfect sense... to a socialist Anyone who's not mentally ill would go "Whoa! We're living beyond our means. Maybe we should buy less stuff?"

Applying that to the Dear Leader's pronouncement: "... [the] budget will include tax rises to prevent austerity avoid fiscal responsibility".

If you want to go full-on Austrian School, simply analyse the direction of travel: the government are increasing the tax-take and that's bad, very bad...

Lest we forget, the words of the great Milton Friedman:

[Nobby the Bastard]

You are making no allowance for the fact that large infrastructure projects gets money moving around which improves the economy.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Triumph Sprint ST 1050

[Easy-X]

I'll put it another way. If your task was to destroy value, who would you give the job to? Private individuals, charities, public corporations or government?
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Royal Enfield Continental GT 535, Husqvarna Vitpilen 401, Yamaha XSR700, Honda Rebel, Yamaha DT175, Suzuki SV650 (loan) Fazer 600, Keeway Superlight 125, 50cc turd scooter

[A100man]

They've fucked (all but the very smallest) farmers after promising they wouldn't. That could turn out to be a poor move.
By all means target the tax avoiders buying forestry etc.. as a tax free asset to pass on but the family with 200 acres of working farmland (not much in todays standard) passed down the generation is now liable for significant IHT that could force them out of business

It could pave the way to large agri-business conglomerates - you can take your own view if that is good or bad.
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Now: A100, GT250A, XJ598, FZ750

Then: Fizz, RS200, KL250, XJ550, Laverda Alpina, XJ600, FZS600

[Skudd]

No point in saying "Well look at the last 14 years" What we we need to look at is the here and now and it looks crap.
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Famous last words of Humpty Dumpty. " Stop pushing me "
Petty Anarchists look at "1984".............. The Visionary looks at "Animal Farm".

[Easy-X]

[Nobby the Bastard]

The shares have value which will be included in the estate and will count for inheritance tax.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Triumph Sprint ST 1050

[DaddyStu]

If only we were part of the biggest economic union in the western hemisphere
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Daddystu
Zontes 125-G1 (part-ex'd). Yamaha Tracer 700.

[Easy-X]

[doggone]

Well Rachael has knocked back my Stocks and Shares ISA by over £1000 in 24 hours.
Maybe I should buy some more before it bounces back tomorrow.

[Tierbirdy]

I wish politicians would talk less like politicians and more like a cabby down the pub or something.

I think people would have a lot more patience with them if they just came out and said:

Look, everythings proper fucked innit mate? Just take a look around, its fucked, all fucked. Tried to see a GP lately or get a dentist? No fucking chance mate. Seen the roads? They look like fucking downtown Gaza. Had a look in your rivers lately, seen all the literal shit floating down them? Everything is totally fucked and its gonna cost a lot of money to even try and begin unfucking it. So fuck the last lot who slashed evereything for 14 years and gave all the money to their mates on the sly, we're gonna have a go at unfucking it and itll be better in the end, but it isnt gonna be pretty.

Rather than fannying around with big words and pointles vague politics talk.

Entire budget seemed to be summed up as "if youre wealthy, you should pay a little bit more and stop dodging tax" which I dont really have a problem with. Theyre not taking your wealth away, just means the super rich will carry on getting even richer slightly slower than they would have before. Wont somebody please think of the landlords , large business owners, and second home owners and get the tiny violins.