The UK has difficult times ahead !

[TorquayFan]

Most pundits seem to think that the PM called early for the General Election because of an expectation that, with fuel prices going up again, inflation is likely to rise again with interest rates not going down later this year as anticipated. Myself I think Sunak got it wrong - it seems to me he has traded an unknown chance later for a certain defeat now - average polls show Labour about 20% ahead.

 

My natural tendency would be to vote Labour but I won't this time - I don't trust them on Immigration, Defence and 'matters woke' and that's just for starters !

 

Watching the plans of both Parties, it's interesting to ponder this : National debt per household in the UK equates to £430K and per person, £180K. That's the extent to which the Nation has indulged itself, economically to this point. I find that most people are oblivious of these facts and as a reminder, limping Britain still overspends by 3% of GDP p.a. Massive bills for the 'infected blood' debacle and the Post Office shame are just around the corner and with defence, police, prisons, schools and the NHS all in a parlous state, are spoilt Brits prepared for what might be around the corner, again?

 

We need to continue borrowing at least 3% of GDP to hold life together BUT, having seen the reaction of World markets to the Truss nonsense, what reaction will we see when the Labour Party takes over - it could be interesting. Will there be a run on the £ ????

 

Roger Bootle, a respected Economist writing in the DT, observes today, "Since 1931, every Labour government except one has had to endure a major event connected with sterling."

 

We'll see !!

[Gsxrnz]

Yes, the UK has certainly been an interesting socialist experiment. Margeret Thatcher gave Britannia half a chance to recover from the madness, and then Blair and Brown found reverse and hit the gas pedal. There hasn't been a true conservative administration in place since 1990.

 

Tp paraphrase T.S Eliot, the UK is dying with a whimper, not a bang. Only a matter of time until it's renamed the UAK

[CharlieKo]

2 minutes ago, Gsxrnz said:

Tp paraphrase T.S Eliot, the UK is dying with a whimper, not a bang

I wouldn't be so sure about that! When thethere will be one very big bang. History has shown, the only way these sorts of problems get resolved is war, and the west seems to be itching to go to war with Russia or China or both.  

[Stocky]

2 hours ago, TorquayFan said:

Will there be a run on the £ ????

No.

Markets react to uncertainty, there is little uncertainty to the outcome of the July election. As for Labour policy, they've been quite clear they aren't about to raise taxes, or do anything much else; certainly no Trussonomic cataclysms. The Conservatives have left them with empty coffers anyway.

[Celsius]

Where are all the chavs to set the Britain straight?

 

oh yes.... they all ran away to Thailand 

[Eddie45]

4 hours ago, TorquayFan said:

Myself I think Sunak got it wrong - it seems to me he has traded an unknown chance later for a certain defeat now - average polls show Labour about 20% ahead.

 

I agree, Sunak has got  it wrong. I will be very surprised if Labour dont win the next election. Sunak family are billionaires, he will sail off into the sunset without a worry. 

[transam]

2 hours ago, Celsius said:

Where are all the chavs to set the Britain straight?

 

oh yes.... they all ran away to Thailand 

They did........?     

[howerde]

How are they going to pay for national conscription

https://www.theguardian.com/politics/article/2024/may/26/rishi-sunaks-national-service-pledge-is-bonkers-says-ex-military-chief

It does not matter who wins, there is no money, defence spending is being raised to 2.5%of gdp from the current 2% no answer where they are going to find the billions for that, the NHS is a bottomless pit, only 2 options raise taxes or cut public spending.

I was always concerned that the state pension would somehow be linked to a sliding scale, the higher your private pension less state pension

[TorquayFan]

Charlie Ko - the West 'itching to go to war'. Hardly. After all, Putin HAS invaded Ukraine and threatened Europe while China militarises the South Seas and threatens Taiwan.

 

Stocky - you say no run on the £ and I hope you are right.

 

Celsius - the definition of 'chav' - "a young person who wears fashionable sportswear or flashy jewelry but is regarded as badly behaved or as having lower-class taste". I'll take that as a compliment as I'm 76 LOL. With respect, that's the worst type of post - nothing to say and just trying to insult. I'll be back in the UK next month, trying to set it straight! (wink)

 

Howerde - the 'conscription' idea won't progress with a change of Govt. Within a decade, the State Pension will be unaffordable and will have to be cut back, starting with the 'triple lock' SOON.

[RayC]

6 hours ago, Gsxrnz said:

Yes, the UK has certainly been an interesting socialist experiment. Margeret Thatcher gave Britannia half a chance to recover from the madness, and then Blair and Brown found reverse and hit the gas pedal. There hasn't been a true conservative administration in place since 1990.

 

Tp paraphrase T.S Eliot, the UK is dying with a whimper, not a bang. Only a matter of time until it's renamed the UAK

 

The closest the UK got to having a socialist government was in 1945. The Blair/Brown administrations could only be classified as centre-left at most.

[lungbing]

3 hours ago, RayC said:

 

The closest the UK got to having a socialist government was in 1945. The Blair/Brown administrations could only be classified as centre-left at most.

Which is about where the tory government has been for the past 14 years.

[TorquayFan]

Thanks for all the replies.

 

Re. this earlier, "Watching the plans of both Parties, it's interesting to ponder this : National debt per household in the UK equates to £430K and per person, £180K"

 

Any comment on that ? ATB