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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To think there is no more money?

443 replies

Rainbowsponge · 24/07/2024 20:17

And Labour have admitted this.

So many threads saying X or Y needs to be ‘properly funded’ (even though most of the time our spending is actually in line with comparable countries), but no acknowledgment of the fact there’s no money to spend.

And when you bring it up, posters completely ignore you or accuse you of being Jacob Rees Mogg Hmm

Wouldn’t the quality of debate be improved if we stopped burying our heads in the sand?

OP posts:
Thread gallery
7
anonhop · 24/07/2024 22:38

@Hedgeoffressian completely agree.

We can't afford the public services that we want right now. We need to streamline & prioritise.

Dibbydoos · 24/07/2024 22:39

The economy is many times worse than Labours joke about no money being left - its like this after every Tory government (facts can be found in gov stats if anyone doesn't believe me).

But we need to invest to get a return so we can kick start the economy.

Gordon Brown was a brilliant Chancellor of the Exchequer and Rachel will follow him to be a great Chanceller because she has experience as well as heart. She is prioritising on the basis of value and returns so not everything will get all the funding it needs right away.

Sometimes we need to trust the process. This is one of those times.

Lovemycat2023 · 24/07/2024 22:39

XenoBitch · 24/07/2024 21:55

I read that you need to earn £40k+ to be a net contributor (quick Google search).
That is well over the average wage.

Is that based on having children and associated benefits? I don’t have children (although I’m on MN!) and can’t work out why I wouldn’t be a net contributor? Very interested to hear if I’m not!

Teentaxidriver · 24/07/2024 22:42

Mumoftwo1316 · 24/07/2024 20:21

I'm not an economist, but I don't think a country works like a household.

Like, right now I have £850 in my account and I know my gas bill is due soon and that'll be £250. If I then spend £600 before payday I'll literally have no money left. [Made up numbers]

A country's money is way more fluid, you can sell more bonds or tweak the interest rates or whatever.

I don't think you can ever say "there's no money left".

I think the MPC set the interest rate. You can auction government bonds but the international money markets influence their value, plus such borrowing has to be paid for.

LadyCrumpet · 24/07/2024 22:43

Miley1967 · 24/07/2024 21:32

Haven't Labour just announced a new wave of foreign aid to try to discourage more immigrants here though?
People saying there is always more money for defence etc - well we are living in the most dangerous times since the second world war with worldwide instability, so we do need to make sure we boost our defenses and help countries like Ukraine. People seem to forget that we haven't long finished paying for the debt of the second world war and back then there was no welfare state . If we had to suddenly fund a third world war alongside the current rising benefit bill we would be well and truly stuffed !

Imo, fuck Ukraine. People are starving and dying of cold ffs.

Pelham678 · 24/07/2024 22:44

scalt · 24/07/2024 22:20

“No money left” for schools and hospitals, yet plenty of billions for vanity projects such as:
millennium dome
war in iraq
lockdowns
booze for mps
mps pay rises
hs2
cancelling hs2
massive IT projects

Heard it all before.

You may not like vanity projects although bear in mind that the dome is now used for events that attract a lot of visitors and if you want to have a vibrant tourism and entertainment industry then you have to make a certain amount of investment. But vanity projects are a red herring compared to public services.

The NHS costs over £200 billion a year. Pensions over £130 billion. Other benefits £130 billion.

So if you're saying you don't want to pay taxes because it will just go towards vanity projects then you're lying to yourself.

Badbadbunny · 24/07/2024 22:46

MidnightPatrol · 24/07/2024 20:30

Question here is, how much tax will workers be willing to pay for pensioners while living a pretty crap quality of life themselves.

Or we could increase taxes on richer old people and their estates when they die.

Taxes need to be spread better and not just forever increased only on workers.

AvrielFinch · 24/07/2024 22:47

I agree inheritance tax makes sense.

Badbadbunny · 24/07/2024 22:48

LadyCrumpet · 24/07/2024 22:43

Imo, fuck Ukraine. People are starving and dying of cold ffs.

Duh! Some of that is because of Ukraine, hence why we need to help sort it!

Rummly · 24/07/2024 22:49

Dibbydoos · 24/07/2024 22:39

The economy is many times worse than Labours joke about no money being left - its like this after every Tory government (facts can be found in gov stats if anyone doesn't believe me).

But we need to invest to get a return so we can kick start the economy.

Gordon Brown was a brilliant Chancellor of the Exchequer and Rachel will follow him to be a great Chanceller because she has experience as well as heart. She is prioritising on the basis of value and returns so not everything will get all the funding it needs right away.

Sometimes we need to trust the process. This is one of those times.

Edited

No. I don’t believe this.

OtterMouse · 24/07/2024 22:52

This reply has been deleted

This has been deleted by MNHQ for breaking our Talk Guidelines.

FinanceLPlates · 24/07/2024 22:52

Some types of spending by the state are investments that will
pay off in the long run though.

More decent council housing should lead to less housing benefit payments for extortionate private rents.
Investment in things like Sure Start and decent provision for young people can have long lasting positive impacts, less cost from antisocial behaviour and better/higher paying jobs for children who received solid foundations and a positive start in life.
Good, reliable infrastructure and services attract businesses and investors.
Investment in repair and maintenance of buildings and infrastructure avoids catastrophic failures, crumbling schools etc…

That’s why austerity was such a costly mistake. “Saving” money in the wrong place ends up being incredibly expensive!

Astrabees · 24/07/2024 22:55

@Towelmode I'm a pensioner and DH and I pay quite a lot of tax on our mainly public sector pensions, as do most of the people we know. Just like the rest of society some of us contribute financially and some of us don't . I just wish the ageist assumption that we are all in the same boat once we are past 66 would change.

mollyfolk · 24/07/2024 22:56

I’m not in the UK but it’s the 6th largest economy in the world. There’s money,

anonhop · 24/07/2024 22:59

Encourage young people to only have children once married / stable with a suitable spouse. Contraception isn't difficult & is free so there's no excuse for having 5 children by 5 different useless dads by the age of 20 (obvi exaggerating!!!)

Then, when sadly relationships break down, the NRP needs to work + pay a substantial amount. Taxpayer shouldn't be subsiding lazy parents.

Explosion in single parent families is a tragedy on an individual, emotional, financial & societal scale.

radio4everyday · 24/07/2024 23:00

Lovemycat2023 · 24/07/2024 22:39

Is that based on having children and associated benefits? I don’t have children (although I’m on MN!) and can’t work out why I wouldn’t be a net contributor? Very interested to hear if I’m not!

see my 2012 link upthread. But yes of course it depends on how much you use public services. You were educated, you use the NHS, you drive on the roads, you will draw a pension.......

HelpMeObiWanKenobi · 24/07/2024 23:02

FictionalCharacter · 24/07/2024 20:23

Exactly. There's an economist on X who explains this really well, I'll try to find his name.

Oh please do @FictionalCharacter ... would love to know ...

Thank you!

SalviaDivinorum · 24/07/2024 23:04

AvocadoDevil · 24/07/2024 20:19

Lol, there may be no more money, but there is always more debt available if a government wants to spend - just look at the insane waste during covid.

And what a nasty bout of inflation we suffered as a result!

Midnightponderer · 24/07/2024 23:06

Circumferences · 24/07/2024 20:28

Of course there's money. Austerity was an ideological choice that has destroyed the country beyond repair. It wasn't necessary. There's always been money for the country. It's just going to cost a fucking fortune undoing the destruction the Tories caused. "There's no magic money tree" she says. Suddenly there is a fucking magic money tree for the pandemic and no one says anything.

THIS!

Rummly · 24/07/2024 23:17

Midnightponderer · 24/07/2024 23:06

THIS!

…because we were faced with a serious infectious disease that was sweeping the world. We had to borrow to pay for the medical, social and economic deficits it caused. So we borrowed. That’s why we have had to do something about the debt since.

Zonder · 24/07/2024 23:17

Rummly · 24/07/2024 22:49

No. I don’t believe this.

Do you not like facts? Best not to just believe the Tory spin.

And once we get some of the billions back from Dido, Mone et Al we will have a bit more money in the pot.

Teentaxidriver · 24/07/2024 23:18

MidnightPatrol · 24/07/2024 21:24

Hard to answer in a short message but… a few headlines IMO.

We need to understand what is a realistic retirement age. Even beyond the state pension, state-backed defined contribution pensions are absolutely crippling and the sum paid in is nowhere near the cost. If the state is going to be obliged to fund 20-40 years of retirement its needs to be funded by those receiving it - not future workers IMO.

Is there an ethical discussion about providing extensive (expensive!) medical care for a low quality of life for often several years) or more? Yes. I don’t think the NHS’ objective was spending a significant % of nation’s income on keeping the very elderly and infirm alive slightly longer. Ditto on the very wide-ranging treatment you can get for non-life threatening illness. Do I think we should get this help? Yes - but we need to actually work out how to pay for it.

Social care… feeds into both of the above really.

Meanwhile the future of the UK - education, childcare, housing for workers… barely even a topic of conversation re: state investment.

I’d be 1000x happier being taxed more to make schools better vs allowing Jean, 97, to stay at home in her final years fully-funded by the state so she can let her 68 year old millionaire child inherit her home.

Edited

To be honest, assisted dying will become law in the foreseeable and from there, it will a slow slide towards June being euthanised at say 82. When she has enjoyed her fixed term on the state pension of however many years. We just have to hope that we aren’t shuffled off to the wilderness earlier, fed insects, etc because we have used up our lifetime carbon allowance.

Rainbowsponge · 24/07/2024 23:21

LadyCrumpet · 24/07/2024 22:43

Imo, fuck Ukraine. People are starving and dying of cold ffs.

Who is starving in the UK?

When was the last time somebody in the UK starved to death unless there were extremely unusual circumstances at play?

OP posts:
DorisDoesDoncaster · 24/07/2024 23:21

Mumoftwo1316 · 24/07/2024 20:21

I'm not an economist, but I don't think a country works like a household.

Like, right now I have £850 in my account and I know my gas bill is due soon and that'll be £250. If I then spend £600 before payday I'll literally have no money left. [Made up numbers]

A country's money is way more fluid, you can sell more bonds or tweak the interest rates or whatever.

I don't think you can ever say "there's no money left".

oh my good Lord 🙄

this is why the country is bankrupt and those that pay lots of tax will start leaving in droves, if they haven’t done so already

LiquoriceAllsort2 · 24/07/2024 23:22

mollyfolk · 24/07/2024 22:56

I’m not in the UK but it’s the 6th largest economy in the world. There’s money,

That just means a lot of people live here, now look at per capita that is what people notice.