[Philthechill]

We hear, virtually, on a daily-basis how the Chancellor has allocated even more £billions to various 'causes'.

Our current 'workers' are still in various stages of 'getting brass for doing nowt', (as we Yorkshire folk would put it!), and the 'trend' seems to be there is no hurry for people to get back to work.

Then, on the other hand, there are multi-redundancies being announced by large Company's. ALL the people laid-of will get 'redundancy'.

There can be little money going into the Govt. coffers from taxation etc. so, as I put in the 'Header', where's all the money coming from?

Could we, like Germany post WW1, be heading for hyper-inflation where the value of the Pound diminishes on a daily basis until you will need a barrow-full of money to buy a loaf of bread, (as was the case in Germany)?

Or am I, as usual, talking a load of sh1te? Phil

 

[sparkie2182]

Gotta be paid back eventually, Phil.
Hope your grandkids have got big chequebooks.

The big target below (according to every submariner I know) cost around 3billion.
We are down around £50billion?

 

[expats]

Phil, Unlike post WW1 Germany the UK is still a wealthy economy..She can borrow using long term bonds as security..Contrary to Mrs. T this "debt" has a very different meaning to the debt acquired by households who are restricted by their income.
In my lifetime there have been very few occasions when the UK government's 'income' has exceeded her 'outgoings' and we're all still here

 

[Varley]

We are still here. However the value of the currency has been effectively eroded by the inflationary mechanisms that have enabled governments to continue funding the state.

The size of the reservoir is only one influence on the speed it will take to empty. Mrs T in contrast to all previous governments paid scant attention to balance of payments leaving the sluice and tributaries to the 'market'. Perhaps that is because the coffers were already in deficit.

At some points in history there have been reserves (when KG II relinquished the Royal Estates, the earnings from which (augmented by current account taxation) paid for the state apparatus. That has been effectively liquidated so that now the state lives entirely in the current account with any deficit made up from borrowing. In modern parlance 'negative equity' or rather negative equity on downers.

Perhaps it was because the State reservoir was already empty Mrs T did not need to worry about the reservoir becoming whelmed the danger being that the natural parts of the damming will crumble though drying out.

Many of the population also live hand-to-mouth and are in debt. No-one thinks that is good for them, why is it good for the State?

(The IoM actually has reserves as HMG's exchequer here is not allowed, by law to borrow and so must spend only what it receives in revenue. This, of course, has lead to the engineering of one or two avoidance mechanisms much like the Islamic Banking measures, as there were to overcome earlier prohibitions across the superstitious spectrum. It looks as if we will not have them for long at 60M odd before Covid 19 the figure was already expected to have been raided down to 16M by 2024).

The land of Shakespeare certainly does not follow his strictures on the subject.

 

[sparkie2182]

The Autumn budget is going to be tough.

 

[Philthechill]

But didn't Germany----

Phil, Unlike post WW1 Germany the UK is still a wealthy economy..She can borrow using long term bonds as security..Contrary to Mrs. T this "debt" has a very different meaning to the debt acquired by households who are restricted by their income.
In my lifetime there have been very few occasions when the UK government's 'income' has exceeded her 'outgoings' and we're all still here

----, expats, have such massive 'reparation's' levied against it by France and Britain, post WW1, that massive inflation was inevitable? This, probably, led to the rise of Hitler and his National Socialist Party. Phil

 

[James_C]

The money shall undoubtedly come from some kind of higher taxation.

However, such a colossal budgetary black hole also provides the Tories with a golden opportunity - indeed probably the best opportunity they've ever had or are ever likely to have - to cut away or privatise those public institutions or services which they're ideologically opposed to and have been champing at the bit to destroy for many a long year.
I'm talking about the kind of policy decisions which they've been otherwise prevented from undertaking during normal cir***stances because even the hard-liners within the party realise it would usually result in political suicide and likely leave them unelectable for a generation.
Of course such policy decisions would be made with the eminently justifiable excuse of "it has to be cut/privatised because we're penniless due to Covid and because Brexit has been economically disastrous due to those damn intransigent Europeans", the kind of line which shall be spun gleefully, incessantly and without scrutiny by their friends in the media and elsewhere and the great British public will thence likely fall for their lies all over again.

No prizes for guessing which public institutions they'll be aiming at either.

I should very much hope to be proved wrong on this matter, but could any of us say hand on heart that the likes of Bojo, ***mings, Gove, Patel etc wouldn't use such an opportunity to their ideological advantage?

 

[Engine Serang]

No prizes for guessing which public institutions they'll be aiming at either.

Well I for one haven't a clue.

 

[Mad Landsman]

As a result of the last few months chaos various news media have been suggesting that the Government are seriously considering some form of re-nationalisation of the railway network.

 

[sparkie2182]

https://www.forces.net/news/armed-f...is still clueless. ...... by way of examples.

 

[Winmar]

In answer to the question posed by the thread, the politicians are going to start charging for what they get up to on Hampstead Heath..........allegedly!(Jester)