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AIBU?

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Original poster

Can they afford it? Yes...another election thing

66 replies

Wibblywobblyfoo · 08/06/2017 07:57

I agree more with labours manifesto. But can't see how they can afford to carry it all out without a shed load of tax or debt.
Can they?

OP posts:
Radishal · 08/06/2017 08:00

No. I'm sorry, but, no. The Tories can't afford it, either.

Nikephorus · 08/06/2017 08:03

No they can't. Corbyn came up with it thinking that he had zero chance of winning. He'd underestimated the low intellect of the Labour faithful who actually believe him.

UnmentionedElephantDildo · 08/06/2017 08:05

IFS has an analysis which shows how much more debt each programme would incur. Labours was by far the largest.

As everyone anticipates harder economic conditions around the time of Brexit, is it actually wise to add to that? No party is offering even the end to overspending so adding to it is going to happen.

The question is by how much should that be?

ssd · 08/06/2017 08:08

yes they can

we're one of the richest countries in the world

the money is there, its all about the distribution of it

labour want the money spread out, reaching the people at the bottom

tories want it concentrated at the top and never mind the bottom

UnmentionedElephantDildo · 08/06/2017 08:11

Well, I'm not so sure. The prediction is that spending by any party will exceed government revenue.

So where is that difference going to come from?

According to the IFS analysis, overspending will be greatest on the Labour programme, least on the Tories, others in between.

So is it going to be borrowing, or attempts to increase government revenue? If the latter, how?

Original poster
Wibblywobblyfoo · 08/06/2017 08:15

I'm trying to look ahead, at which will side will be least likely to lead my kids into a debt ridden country...

OP posts:
OfficiallyUnofficial · 08/06/2017 08:18

Nope the fiscal study shows they can't. And business and the markets will be panicked by them so it'll actually get worse.

Theworldisfullofidiots · 08/06/2017 08:22

So I'm voting Labour so I must be thick?????
Have you learnt nothing from the last year?

Theworldisfullofidiots · 08/06/2017 08:23

Do you think my universities will recall my qualifications?

witwootoodleoo · 08/06/2017 08:32

Businesses and investors are already majorly spooked by Brexit. A Labour government is going to compound that massively.

The mood in much of the City is that if we wake up to Corbyn tomorrow it's game over for the City.

Love it or loathe it the reality is that the City generates huge numbers of jobs and a sizeable chunk of tax revenue so destroying it at the same time that the economy is already wobbly is not a good idea. Robin Hood tax on transactions, increased CGT and increased income tax are all going to drive out business, not increase the tax take.

I'm fed up of people saying it's scaremongering. Try asking the people that actually work at a high level in the City and they'll tell you honestly that the flight has already begun. Labour will just drive business out faster.

ssd · 08/06/2017 08:34

skutterfly, quoting from the daily mail? Hmm

Parker231 · 08/06/2017 08:37

Was an undecided but am now voting Labour. Have been very impressed with Corbyn during the campaign. No way can May get us through Brexit - she seems to only function with a script. I'd rather pay more tax to have an NHS, a police service, funded education system and social care for those who need it.

We're a rich country but with a poorly designed tax and benefits system where those who have the means to do well and are high earners contribute a disproportionate low about compared with those on lower incomes.

ssd · 08/06/2017 08:39

witwoo, thats your take on it., I'd like to see facts to back up your argument.

this country has more to it then London and labour recognise that.

Brexit is scaring the city, whoever is in government. Big businesses know TM will get the deal she's given, her "strong and stable" rhetoric is her trying to convey to middle England how she is not to be messed with. But anyone with any sense knows its bullshit, she has no more sway with the EU now than anyone else. Trying to come across as "difficult" only makes her look pathetic and desperate, not strong and stable.

mpsw · 08/06/2017 08:39

"So I'm voting Labour so I must be thick?????
Have you learnt nothing from the last year?"

Pot, kettle.....

PumpkinPiloter · 08/06/2017 08:41

How can we not afford to spend more on education? The education budget has not increased in 7 years which means it has been cut every year if you take into account inflation.

Schools are struggling and this is before the proposed cuts coming into force shortly.

Can we really afford to sacrifice our children's quality of education so that we can have some of the lowest corporate taxes in the developed world and cut taxes to the top 5% of earners.

NO WE CAN NOT!

Somerville · 08/06/2017 08:42

Using links from the Daily Mail to 'prove' that others have a low IQ... Grin Grin Oh the irony!

luckylucky24 · 08/06/2017 08:44

No they can't. The rich are not rich enough to cover the billions JC is planning on spending. And I cannot see the private train companies willingly handing over their millions to JC. Good luck with that!
The country may be superficially rich but we have big debts to pay.
Under the Tories, just over £1 of every £4 spent is borrowed. Under labour it was over £3 of every £4. That is how the costs will be covered.

DancingLedge · 08/06/2017 08:45

The conservatives have reduced taxes on the seriously wealthy. Reduced disability benefits to a point where seriously disabled and terminally ill people are driven to desperation.Reduced police numbers by a huge amount, at a time we need more not less.
I don't think this country can afford any of these reductions any more.

makeourfuture · 08/06/2017 08:47

Fully costed.

Fair. Growth. Forward-reaching.

Today we get our country back!

DancingLedge · 08/06/2017 08:47

And education cuts haven't really started to bite yet. That's why we're having an election now:cause after your child's school has cut several teachers, an election in a couple of years time would have been unwinnable by the Conservatives.

Twinkie1 · 08/06/2017 08:48

They are effectively repackaging your debt after doubling it. Sadly there are no banks left who will buy such a toxic product anymore!

You can't spend your way out of debt.

witwootoodleoo · 08/06/2017 08:56

@ssd see here for example re the significance of London in tax terms.

Bit hard to give you sources for the fact companies are making plans to leave because individual companies won't announce until the process is nearing conclusion and obviously those of us working on the relocation are bound by client confidentiality so can't name the household names that are doing it right now.

The press is full of reports of banks shedding jobs already though - tens of thousands have been announced. What is reported is the tip of the iceberg.

ssd · 08/06/2017 09:06

so if the conservatives win the election these companies will scrap their plans to relocate, is that what you are saying?

I seriously doubt it. Brexit is making these companies want to relocate, not the thought of a more compassionate government.

Paddybare · 08/06/2017 09:07

By having no plan to even begin to reduce borrowing, Labour have lost me. Yes it would be great to throw money at everything short-term but what then. More austerity in the 2030s when a future government decides we are spending too much?

I would love a more centrist party, both labour and conservatives have drifted to far to the left and right of the spectrum for me.

However in absence of such a party, for the sake of my kids future it has to be conservative today.

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