To wonder where all the money is going?

[malificent7]

So welfare and public services are being cut?
So why do we need to borrow 122 billion ?
Brexit administration?
So cuts are not freeing up much cash. I'm confused.... Can someone elaborate.

If it is Brexit them pissed off that my tax is paying for it.

[malificent7]

This is based on today's Autumn statement btw.

[Potatoooooo]

Buckingham palace.

[Applesauce29]

Debt repayment i.e. interest on massive debt mountain that's growing every year as we're running a deficit every year.

Landlords - housing benefit.

Pensioners - triple lock means rising income in real terms, and raising personal allowance means they pay even less tax!

[Applesauce29]

Oh and businesses, who now have to pay even less corporation tax

[PausingFlatly]

Well there was an income tax cut that benefits anyone earning over £11K, but particularly those earning £43K - £150K.

[ErrolTheDragon]

The question people never seem to ask is where (other than borrowing) money comes from.

[Suppermummy02]

We have been living beyond our means for over a decade.
A reckoning is coming.
You can pay for some of the people all of the time.
You can pay for all of the people some of the time.
But you CANT pay for all of the people all of the time.

[NapQueen]

The most on pensions!!

[megletthesecond]

Tax havens.

[ShoopyShoopyDoopDoop]

Old people.
Tax breaks/cuts for the already rich.

[Suppermummy02]

the magic money tree

[EastMidsMummy]

We subsidise poor employers through tax credits and in-work benefits. We have low productivity because our employees are poorly educated compared to our competitors. We allow big corporations to pay next to no taxes. Our economic 'growth' is built upon the back of a housing bubble. Austerity has stifled the economy.

[FoundNeverland]

Add message | Report | Message poster Potatoooooo Wed 23-Nov-16 23:18:11
Buckingham palace.

I hope you are being ironic.

[JellyBelli]

Austerity measures are not working, according to economists. Cuts are being made to the most vulnerable.

www.theguardian.com/business/2016/may/27/austerity-policies-do-more-harm-than-good-imf-study-concludes

I think people have forgotten 3 things
The Tories wasted the revenue from North Sea oil and gas, giving tax cuts to the wealthy.
Labour had to bail out the banks, who then refused to pay back the money. (and the next year awarded themselves even more in bonuses.)
Most of the debt was accumulated during the slump, when the world ecoopmy was in crisis.

[WordGetsAround]

We lived beyond our means in the years of plenty. We are now having to pay it back in the leaner years. Not the best way of running an economy.

[LoisWilkersonsLastNerve]

What country/countries are we borrowing from? Should we all up sticks and move there? Tough times ahead folks. I'm prepping big time because it sure as shit won't be the people at the top who lose out.

[CoolCarrie]

Buckingham Palace 😀

[LoisWilkersonsLastNerve]

Queen Liz needs some Hygge.

[Bumbledumb]

What country/countries are we borrowing from? Should we all up sticks and move there?

You are already living in that country if you happen to be in the UK.

[LoisWilkersonsLastNerve]

Yes I am, do you mean the government is borrowing from uk banks/businesses etc? I should really google it.

[LoisWilkersonsLastNerve]

Ah-
The UK government borrows mainly from
•UK pension funds / insurance companies (29%)


Now call me paranoid but something tells me this isn't sensible...

[CoolCarrie]

Sensible isn't a word I would associate with political parties, any of them

[Bumbledumb]

I believe that the Bank of England owns £435 billion of the debt. Something like 30% of the total is with foreign investors.