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To wonder where all the money is going?

(64 Posts)
malificent7 Wed 23-Nov-16 23:16:23

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 Wed 23-Nov-16 23:16:55

This is based on today's Autumn statement btw.

Potatoooooo Wed 23-Nov-16 23:18:11

Buckingham palace.

Applesauce29 Wed 23-Nov-16 23:19:59

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 Wed 23-Nov-16 23:22:19

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

PausingFlatly Wed 23-Nov-16 23:24:48

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

ErrolTheDragon Wed 23-Nov-16 23:27:42

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

Suppermummy02 Wed 23-Nov-16 23:33:48

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.

amicissimma Wed 23-Nov-16 23:35:00

Pie chart.

NapQueen Wed 23-Nov-16 23:37:19

The most on pensions!!

megletthesecond Wed 23-Nov-16 23:39:09

Tax havens.

ShoopyShoopyDoopDoop Wed 23-Nov-16 23:46:11

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

Suppermummy02 Wed 23-Nov-16 23:50:28

the magic money tree

EastMidsMummy Wed 23-Nov-16 23:54:24

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 Wed 23-Nov-16 23:55:18

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

I hope you are being ironic.

JellyBelli Wed 23-Nov-16 23:56:36

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 Wed 23-Nov-16 23:57:29

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 Thu 24-Nov-16 00:10:41

What country/countries are we borrowing from? Should we all up sticks and move there? confused 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 Thu 24-Nov-16 00:11:19

Buckingham Palace 😀

LoisWilkersonsLastNerve Thu 24-Nov-16 00:13:10

Queen Liz needs some Hygge.grin

Bumbledumb Thu 24-Nov-16 00:15:46

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 Thu 24-Nov-16 00:19:10

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

LoisWilkersonsLastNerve Thu 24-Nov-16 00:22:06

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 Thu 24-Nov-16 00:25:59

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

GardenGeek Thu 24-Nov-16 00:32:32

Apparently most of this debt is from the last decade,
From what I find it seems we had c. £0.5 Trillion debt in 2005, now its c. £1.5 Trillion.

Has increased 3 fold while we have been in austerity with cuts left right and centre.

I too and confused how this doesn't add up hmm
Surely when you spend less, you save more, thus borrow less.
How we have been borrowing more when we have been spending less is a modern day paradox.

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