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Is the Chancellor about to crash the economy?

389 replies

Startingagainandagain · 09/01/2025 18:02

I will start by saying I voted Labour, but I am increasingly concerned about what the government has done so far.

Today there are warning that food prices could shoot up, the pound is going down, there were big jitters on the bonds market and government borrowing is higher than planned.

More generally Reeves seems to have spooked businesses and they have no will to expand or employ more people.

I agreed that the Tories left a total mess.

But Labour seems to just go from bad to worse and I am really starting to wish she could be replaced by someone more competent to restore some confidence.

OP posts:
Thread gallery
8
HellsBalls · 14/01/2025 10:04

ChardonnaysBeastlyCat · 14/01/2025 09:55

How much revenue does Heathrow generate?

How much tax do they pay?

What happens to the dividends?

The job they generate, are they actually needed in that part of the country?

Where is the temporary housing you are talking about? What happens to the families of the so called temporary workers?

None of this adds up, it’s all wishful thinking.

Temporary accommodation as in on-site container homes. Also spare rooms and hotels for miles around. Jobs are needed across the country.
Somehow we managed to build the super sewer under London, and the Elisabeth line, without having the workers sleeping in tents. HS2, the opposition wasn’t where will the workers come from.

Sounds like you are just opposed to the runways.
NIMBYs are everywhere with every excuse.

ChardonnaysBeastlyCat · 14/01/2025 09:55

HellsBalls · 14/01/2025 09:49

If they pay the salaries they will get the workers. Foreign workers also. There are temporary visas available. Temporary housing.
There are answers to everything.
Airports generate tax revenue, create thousands of jobs, and that’s what the country needs now.

How much revenue does Heathrow generate?

How much tax do they pay?

What happens to the dividends?

The job they generate, are they actually needed in that part of the country?

Where is the temporary housing you are talking about? What happens to the families of the so called temporary workers?

None of this adds up, it’s all wishful thinking.

HellsBalls · 14/01/2025 09:49

ChardonnaysBeastlyCat · 14/01/2025 09:42

Who will be building it?

The government tells us we need hundreds of thousands foreign workers fur their housing program?

Who will pay for it? Heathrow will get theirs and we will be paying. Their dividends don’t stay here. All we get is transit traffic and cheap tourists.

If they pay the salaries they will get the workers. Foreign workers also. There are temporary visas available. Temporary housing.
There are answers to everything.
Airports generate tax revenue, create thousands of jobs, and that’s what the country needs now.

ChardonnaysBeastlyCat · 14/01/2025 09:42

Who will be building it?

The government tells us we need hundreds of thousands foreign workers fur their housing program?

Who will pay for it? Heathrow will get theirs and we will be paying. Their dividends don’t stay here. All we get is transit traffic and cheap tourists.

Anniedash · 14/01/2025 09:38

ChardonnaysBeastlyCat · 14/01/2025 09:27

The runways are not the answer.

Environmental damage aside, huge numbers of workers will be needed. There are not enough construction workers for the housing plants. Where are they going to come from
and at what cost, financially and politically?

And the infrastructure will need to be upgraded at huge costs to the taxpayer.

That’s not how infrastructure investment works. If you don’t build it, you never attract users, and never grow inward investment. Heathrow used to be the busiest airport in the world. Then then busiest in Europe. And now not even that.

Do you think people stopped flying just because Little Britain decided the terminal decline was preferable in order to follow the climate cult.

ChardonnaysBeastlyCat · 14/01/2025 09:29

EasternStandard · 14/01/2025 09:19

I don’t know enough about impact of runways but I agree it’s nothing to do with Labour saving themselves

There’s a staunch lot who will back them regardless, you see it on here (oddly still blind to Labour’s issues), but their failings will drive people to other parties - that looks like it might be Reform votes

This is more about Labour’s real
impact on the economy and livelihoods

Edited

They will lose the constituencies under the new paths, and that’s mostly Labour constituencies.

ChardonnaysBeastlyCat · 14/01/2025 09:27

The runways are not the answer.

Environmental damage aside, huge numbers of workers will be needed. There are not enough construction workers for the housing plants. Where are they going to come from
and at what cost, financially and politically?

And the infrastructure will need to be upgraded at huge costs to the taxpayer.

EasternStandard · 14/01/2025 09:19

HellsBalls · 14/01/2025 09:10

No one is interested in saving Labour at the next election.
Eveyone is interested in them actually improving the country, irrespective of their election hopes next time.
’We are the party of change’, yet we have Austerity 2.

I don’t know enough about impact of runways but I agree it’s nothing to do with Labour saving themselves

There’s a staunch lot who will back them regardless, you see it on here (oddly still blind to Labour’s issues), but their failings will drive people to other parties - that looks like it might be Reform votes

This is more about Labour’s real
impact on the economy and livelihoods

HellsBalls · 14/01/2025 09:10

ChardonnaysBeastlyCat · 14/01/2025 08:41

And the best way to deal with it is to add more pollution?

Also, it’s not going to save Labour, if that’s your hope.

No one is interested in saving Labour at the next election.
Eveyone is interested in them actually improving the country, irrespective of their election hopes next time.
’We are the party of change’, yet we have Austerity 2.

HellsBalls · 14/01/2025 09:08

senua · 14/01/2025 08:38

London and the S/E hoards all the investment and nowhere else gets a look-in.

Do you really think that it is healthy to have such an unbalanced economy? It doesn't even help Londoners: you see it on here where people are earning six figures and yet saying they are struggling to make ends meet. It's ridiculous.

Leveling up!
But HS2 North was cancelled. Labour could reinstate it, but they won’t.
This government could allow the less prosperous counties to set their own lower levels of commercial, or even income, tax.
That would stimulate companies to move there and boost the economy. This is how Switzerland does it, and USA.

What are Labour doing to boost investment outside the SE?

ChardonnaysBeastlyCat · 14/01/2025 08:41

Anniedash · 14/01/2025 08:22

Another runway at Heathrow is going to pale into insignificance when you consider China building coal powered fire stations and India buying Russian oil and Trump saying ‘Drill, baby drill’.

Making yourself poorer in pursuit of a cult like obsession is not smart.

And the best way to deal with it is to add more pollution?

Also, it’s not going to save Labour, if that’s your hope.

EasternStandard · 14/01/2025 08:38

Anniedash · 14/01/2025 08:20

This won’t be popular but when things get this bad, tepid, incompetent, lifer politicians who have 0 experience of the real world of work just don’t cut it.

This is why Thatcher was so successful. She knew exactly what needed to be done to drag the country out of the doom loop of the 70s. She understood the demands of the 21st century and how the country could be a financial powerhouse. And the fact the we needed to drill in the North Sea. UK has basically been living off the proceeds of the financial services industry for the last 40 years. Even that has been mismanaged by successive governments and the goose the laid the golden egg is looking anaemic, no longer a global powerhouse.

Basically this country is a leader at nothing. Zilch. Nada.

The financial industry is in decline. We are actively making ourselves colder and poorer by pulling away from North Sea oil and chasing the net 0 madness. We made a Covid vaccine that advanced countries like the US couldn’t pull away from fast enough and has since deemed to have caused harms. Our universities are fast slipping in global rankings due to them being basically visa factories for immigrants who have no real skills to enter the country any other way.

The country is finished or close it being so. And mediocre, lifelong civil servants or a parliament stuffed full of people who have only ever worked in charities ain’t going to fix it.

Edited

I agree with a fair bit but not all. Although by the time Labour are out it may well be all.

senua · 14/01/2025 08:38

HellsBalls · 14/01/2025 08:30

London and the S/E bank rolls the rest of the UK.

London and the S/E hoards all the investment and nowhere else gets a look-in.

Do you really think that it is healthy to have such an unbalanced economy? It doesn't even help Londoners: you see it on here where people are earning six figures and yet saying they are struggling to make ends meet. It's ridiculous.

Username056 · 14/01/2025 08:38

I’m a Northerner but we need those well paid City jobs. Think of all the tax paid on the bonuses! Apart from that we led in financial services. I think that’s probably going/gone now.

Article in the Times the other day saying recruitment/vacancies in the City now at lowest level since 2020 - just before COVID.

Also reported in the news during this cold spell, Centrica said gas storage levels were “worrying low”.

Julen7 · 14/01/2025 08:37

Anniedash · 14/01/2025 08:20

This won’t be popular but when things get this bad, tepid, incompetent, lifer politicians who have 0 experience of the real world of work just don’t cut it.

This is why Thatcher was so successful. She knew exactly what needed to be done to drag the country out of the doom loop of the 70s. She understood the demands of the 21st century and how the country could be a financial powerhouse. And the fact the we needed to drill in the North Sea. UK has basically been living off the proceeds of the financial services industry for the last 40 years. Even that has been mismanaged by successive governments and the goose the laid the golden egg is looking anaemic, no longer a global powerhouse.

Basically this country is a leader at nothing. Zilch. Nada.

The financial industry is in decline. We are actively making ourselves colder and poorer by pulling away from North Sea oil and chasing the net 0 madness. We made a Covid vaccine that advanced countries like the US couldn’t pull away from fast enough and has since deemed to have caused harms. Our universities are fast slipping in global rankings due to them being basically visa factories for immigrants who have no real skills to enter the country any other way.

The country is finished or close it being so. And mediocre, lifelong civil servants or a parliament stuffed full of people who have only ever worked in charities ain’t going to fix it.

Edited

Sad but true

Anniedash · 14/01/2025 08:36

senua · 14/01/2025 08:31

Is there an invisible wall that stops money from flowing out of London to other parts of the country.
We'd like to earn our own money and not be reliant on hand-outs and trickle-down from London TYVM.

And that’s fair enough but until business people from around the world start falling over themselves to do business in Newcastle, rather than London or transit to New York through Liverpool rather than London, we should the take opportunities we can.

Anniedash · 14/01/2025 08:35

HellsBalls · 14/01/2025 08:30

London and the S/E bank rolls the rest of the UK.

That’s my point

senua · 14/01/2025 08:31

Anniedash · 14/01/2025 08:23

Is London not part of the UK? Is there an invisible wall that stops money from flowing out of London to other parts of the country.

Is there an invisible wall that stops money from flowing out of London to other parts of the country.
We'd like to earn our own money and not be reliant on hand-outs and trickle-down from London TYVM.

HellsBalls · 14/01/2025 08:30

Anniedash · 14/01/2025 08:23

Is London not part of the UK? Is there an invisible wall that stops money from flowing out of London to other parts of the country.

London and the S/E bank rolls the rest of the UK.

HellsBalls · 14/01/2025 08:30

ChardonnaysBeastlyCat · 14/01/2025 08:18

Fuck the opposition?

Lovely.

Fuck climate change as well?

Planes are getting more and more economical every year. If climate change was really being tackled (it’s not) then holiday flights would be restricted, car usage restricted, buying shite from China restricted, pay per mile introduced, meat production restricted.
Also, as well publicized, the UK produce a drop in the ocean of emissions.
India and it’s 1.4 billion people and rising counteract the rest of the worlds climate endeavors.

Anniedash · 14/01/2025 08:23

senua · 14/01/2025 08:21

When you say "the economy", you mean "the economy of London / SE"?
I'm sure that would go down well with the Red Wall.

Is London not part of the UK? Is there an invisible wall that stops money from flowing out of London to other parts of the country.

Anniedash · 14/01/2025 08:22

ChardonnaysBeastlyCat · 14/01/2025 08:18

Fuck the opposition?

Lovely.

Fuck climate change as well?

Another runway at Heathrow is going to pale into insignificance when you consider China building coal powered fire stations and India buying Russian oil and Trump saying ‘Drill, baby drill’.

Making yourself poorer in pursuit of a cult like obsession is not smart.

senua · 14/01/2025 08:21

HellsBalls · 14/01/2025 07:56

Labour could help themselves by approving the third runway at Heathrow and the second at Gatwick. As long as it’s not government funded, two very easy wins for immediate work and long term benefits to the economy.

When you say "the economy", you mean "the economy of London / SE"?
I'm sure that would go down well with the Red Wall.

Anniedash · 14/01/2025 08:20

This won’t be popular but when things get this bad, tepid, incompetent, lifer politicians who have 0 experience of the real world of work just don’t cut it.

This is why Thatcher was so successful. She knew exactly what needed to be done to drag the country out of the doom loop of the 70s. She understood the demands of the 21st century and how the country could be a financial powerhouse. And the fact the we needed to drill in the North Sea. UK has basically been living off the proceeds of the financial services industry for the last 40 years. Even that has been mismanaged by successive governments and the goose the laid the golden egg is looking anaemic, no longer a global powerhouse.

Basically this country is a leader at nothing. Zilch. Nada.

The financial industry is in decline. We are actively making ourselves colder and poorer by pulling away from North Sea oil and chasing the net 0 madness. We made a Covid vaccine that advanced countries like the US couldn’t pull away from fast enough and has since deemed to have caused harms. Our universities are fast slipping in global rankings due to them being basically visa factories for immigrants who have no real skills to enter the country any other way.

The country is finished or close it being so. And mediocre, lifelong civil servants or a parliament stuffed full of people who have only ever worked in charities ain’t going to fix it.

ChardonnaysBeastlyCat · 14/01/2025 08:18

HellsBalls · 14/01/2025 08:16

How many years have these runways been on the table?
Fuck the opposition to the runways, it’s only nimbyism. Labour are supposed to be the party of change. Well fucking change something then!
They have the majority to do what they want.
To be fair, they managed to change planning, the runways are the just another step.
How many cancelled flights when the weather is bad? The runways will be beneficial.

Fuck the opposition?

Lovely.

Fuck climate change as well?