Spring Statement - what nonsense!

[Dragonflytamer]

So according to Reeves it is all going swimmingly, Labour are doing a great job, and we should all be grateful.

She lives in a different world.

Things would always get better once we were over the financial catastrophe of Covid that has set back the country's finances by a decade. Even if no changes had been made in the last 18 months, the finances would be getting better. In fact, probably even moreso due to the stupid damaging changes made by Reeves!

We should be comparing our growth (or lack of it) against other comparable countries, many of which are doing a lot better than we are!

No things would not have inevitably improved post Covid given we had been going backwards for the previous decade I think we can safely say we would have carried on going backwards

There will be children living in poverty. Always. It's statistically impossibly not to have them unless communist state.

A child is said to be living in poverty if they live in a household with income below 60 per cent of the national average (median) income.

This definition depends on median, not purchasing power.

Until that twat Trump messed up the global economy, again! things were ticking up.

You don't like Labour, thats fair enough but the previous lot had 14years to show us what they could do and failed on every measure.

Not everything was going backwards. Lots of economic/financial markers were looking better in the years leading up to Covid then they looked in the aftermath of the 2008 crash. You really can't say that everything was bleak and getting worse, in, say 2019! Covid was an absolute hammer blow, every bit as bad (if not worse) than the 2008 crash.

Comparable countries? none in Europe are doing better and we certainly don't compare to the USA.

Even with recent falls, stock market, inc the FTSE All Share (uk companies) is around 20% higher than in July 2024.

People let their hatred of Labour blind them to certain realities & if you really belive Covid was worse than the GFC, then its no wonder Reeves has had to raise taxes and is getting tepid growth.

It's Reeves that keeps saying she is taking kids out of poverty not me. I surprised she didn't just change the definition like she did with waiting lists.

Is that you Alistair Campbell?!

No I don’t believe thing would have bounced back after Covid with a right ( more right) wing government in place
and if everything was inevitable then we don’t need any one governing ?

Unemployment is going up and growth revised down, it’s not bouncing.

First half of 2024 it was improving, and then the GE.

theres very little she can do about AI and how it’s shaking the job market -

but i sense this is a matter of heels in , determination to know it all so il leave you to it

I think she can do more about NI policy and policy generally and hitting construction and hospitality (not particularly AI led) but yes if you’re as Reeves is not wanting to know probably best to ignore all.

First part of 2024 was decent growth but the last half of 2023, UK was in recession.
Overal growth in UK is higher under Labour than it was under Sunak.

But both are poor, the idea it was all Sunny Uplands under the Tories is somewhat "mis remembering" on a grand scale.

There is a reason they suffered their worst ever electoral performance and are behind Labour in the polls.

No she can't effect AI and if anything should be encouraging. What she could have not was not increase the NI on employers and achieved the same by reserving the silly sunak giveaway. She didn't have to remove the financial incentive for employing youger people It is her choices that have driven youth unemployment.

You all have a hotline to the IMF.......

She raised 30bn, i don't like it anymore than you but the reality is we need the money.
We need more defence, better roads, NHS/GPs/Dental.

Reversing Hunts NI cuts would have raised 11bn.

So the only other way is income tax, we would need a 5% increase to raise 20bn.
That would have destroyed consumer confidence, wrecked the high street and hospitality, pushing youth unemployment even higher.

Or we have more Austerity.

Er no The OBR issues a report - anyone can read it. Reeves cherry picked the bits she like and ignored the caveats? What's the IMF got to do with it?

Even some of the OBR stuff is a bit manipulated. They say unemployment will stay steady but the hours worked per person will reduce.

Reeves has taken steps to reduce the u-turns. Not announcing any policies means there is nothing for her to flip flop on. Odd through that Starmer said last week that there would be news on Student loans but nothing. This is not a government for the young.

There was talk of a watering down, U turn of the young persons minimum wage because no one wants to employ them because you may as well employ an older experienced person, I wonder when that will be

The problem is the money she has raised is not being spent on defence, roads etc but on the ever increasing benefits bill.

or fundamentally review welfare. And not to remove child benefit cap

This is basic stuff, I’m not sure why they need to learn it as they go.

If the tories had not grossly mismanaged covid and thrown money at their pals the country would have been in a better state when Labour took over. They inherited a disaster and the tories would have raised taxes too. Hunts NI cuts were deliberate booby traps.

I dont agree with everything Labour have done, especially ending the benefits cap and being too generous with the thresh hold for winter fuel payments but hospital treatment is a little easier to get and inflation id falling. The fuel cuts came from switching the green levy to general taxation.

Until the politicians (of every party) take the brakes off small businesses, and lighten the regulatory and tax burdens, there won't be new jobs and investment, so there won't be any growth. You would have to be barking mad to start a new business in this country now.

@nearlylovemyusername 75% of the costs of renewable options are being moved from energy bills to general taxation. Given that poorer households spend a greater proportion of income on energy costs this meant that poorer households were contributing disproportionately. The new framework means that those with higher band tax rates are paying more. Both groups benefit from lower energy costs. Hence a reduction in costs to the poor and higher costs to those earning enough to pay higher rate tax. It’s redistribution to ensure that the poor are not paying disproportionately. Not taxing the rich. HTH