thebees Posted November 25, 2008 Share Posted November 25, 2008 Stop the debt society we are living in...maybe that might help. I could go on about this for hours but it my best friends birthday today so I have much better things to do, I have been saying for years and years and years that the policy of buy now pay later is going to be the ruin of the economy, Im seldom wrong. Link to comment Share on other sites More sharing options...
Slim Posted November 25, 2008 Share Posted November 25, 2008 Just slim down government a bit - way too many jobsworths anyway. Scrap some fucking roundabout and other looney plans as well and hey presto! Saved... Stop the debt society we are living in...maybe that might help. I could go on about this for hours but it my best friends birthday today so I have much better things to do, I have been saying for years and years and years that the policy of buy now pay later is going to be the ruin of the economy, Im seldom wrong. But look at the carnage from recession we've seen already. 'just slim down the government', 'stop debt'. Sensible and easy to say, but both will lead to massive job losses, which knocks on to the whole economy, no matter what part of it you're in. Do you accept that? I'm presuming you're happy as long as it's not you who's losing their job and house. Link to comment Share on other sites More sharing options...
Mission Posted November 25, 2008 Share Posted November 25, 2008 Free advice Wait for the page to load fully and play the vid. Link to comment Share on other sites More sharing options...
Amadeus Posted November 25, 2008 Share Posted November 25, 2008 If the government says there's going to be shortfalls, then the government should save money - i.e. useless projects like new qb roundabout. If they increase taxes and still go ahead with more unwanted and unneeded stuff (daff hq??), then that won't go down well... Link to comment Share on other sites More sharing options...
Sebrof Posted November 25, 2008 Share Posted November 25, 2008 If the government says there's going to be shortfalls, then the government should save money - i.e. useless projects like new qb roundabout. If they increase taxes and still go ahead with more unwanted and unneeded stuff (daff hq??), then that won't go down well... JM Keynes thought that the way out of a recession was for the goverment to spend money and thereby stimulate the economy. That is what Darling is now doing. It's better than cut, cut, cut, because that way nobody will have a job. As far as the IOM is concerned, any government expenditure should have as small a foreign element as possible. S Link to comment Share on other sites More sharing options...
Lee54 Posted November 25, 2008 Share Posted November 25, 2008 Mr Bell hinted in Tynwald today that he will have to raise income tax. Link to comment Share on other sites More sharing options...
Moghrey Mie Posted November 25, 2008 Share Posted November 25, 2008 Stop the debt society we are living in...maybe that might help. I could go on about this for hours but it my best friends birthday today so I have much better things to do, I have been saying for years and years and years that the policy of buy now pay later is going to be the ruin of the economy, Im seldom wrong. I agree. But government policy seems to encourage people to 'get out and start spending again.' Surely it was over-heated comsumersim that was partly to blame for the present situation. Link to comment Share on other sites More sharing options...
Slim Posted November 25, 2008 Share Posted November 25, 2008 If the government says there's going to be shortfalls, then the government should save money - i.e. useless projects like new qb roundabout. If they increase taxes and still go ahead with more unwanted and unneeded stuff (daff hq??), then that won't go down well... Same reply again, you can only save money when you've a surplus in the good times, so you can still have a bit of growth and savings. We're not in the good times, we're in recession. The government can't contribute to that recession by also cutting back, or you'll just go into a downward spiral. You could say that it's better to allow that downward spiral, that it's inevitable, that the economy should find it's value and grow from then. But how do you deal with the millions of jobless, the millions of homeless the economically displaced? Do you want to be jobless and homeless? I don't. Link to comment Share on other sites More sharing options...
Lee54 Posted November 25, 2008 Share Posted November 25, 2008 Slim how is the Government going to make he £40 million shortfall up in the short term. They have already spent it or allocated it to capital projects. It was interesting to hear Mr Bell say that those that have already lost their jobs are unlikely to get employment in a similar job and should prepare to change. Link to comment Share on other sites More sharing options...
Slim Posted November 25, 2008 Share Posted November 25, 2008 Slim how is the Government going to make he £40 million shortfall up in the short term. They have already spent it or allocated it to capital projects. It was interesting to hear Mr Bell say that those that have already lost their jobs are unlikely to get employment in a similar job and should prepare to change. I would guess it'll be a combination of raising income tax and increased borrowing. Link to comment Share on other sites More sharing options...
Tugger Posted November 25, 2008 Share Posted November 25, 2008 So the argument appears to be swell the civil service in the good times, and keep it swollen in the bad times. The private sector will always be there to pay! I don't think so. People in the private sector are losing their jobs. Lazy, overpaid civil servants aren't. It is wrong Link to comment Share on other sites More sharing options...
Lee54 Posted November 25, 2008 Share Posted November 25, 2008 Slim how is the Government going to make he £40 million shortfall up in the short term. They have already spent it or allocated it to capital projects. It was interesting to hear Mr Bell say that those that have already lost their jobs are unlikely to get employment in a similar job and should prepare to change. I would guess it'll be a combination of raising income tax and increased borrowing. I don't think it would bother me if they increased income tax by say 1% but an increase wont help those that are already on the bread line. Can the island afford to borrow more money if they end up paying out for KSF and or we see a big turn around in the finance industry. If the Finance industry decide to move which they may well do, the Island has very little to fall back on. Link to comment Share on other sites More sharing options...
Slim Posted November 25, 2008 Share Posted November 25, 2008 Tugger, I'm not saying it's right, I'm just saying that's the way it might have to go in teh short term, otherwise government will contribute to the downturn. I don't think it would bother me if they increased income tax by say 1% but an increase wont help those that are already on the bread line. Can the island afford to borrow more money if they end up paying out for KSF and or we see a big turn around in the finance industry. If the Finance industry decide to move which they may well do, the Island has very little to fall back on. Like in the UK, they'd probably raise income tax only in the upper earning brackets. Who said anything about the government paying out for ksf? The finance industry decide to move? It's just one entity is it? And I'll ask again, what's your alternative? Link to comment Share on other sites More sharing options...
Twitch Posted November 25, 2008 Share Posted November 25, 2008 about 80% of the economy is not banking...bit of a simplistic stat I know, but there is quite a lot going on here apart from banking. Link to comment Share on other sites More sharing options...
pongo Posted November 25, 2008 Share Posted November 25, 2008 The finance industry decide to move? It's just one entity is it? And I'll ask again, what's your alternative? One possibility is that the Finance Sector is not replaced as such (although many of the skills are universal and transferable) - that there is not any alternative. In that scenario - we get used to having a smaller economy with fewer people employed over here. Possibly, ultimately, a smaller population too. The upside of that might be that we legacy a future which is less uncertain and potentially more sustainable economically. Short term it would be tough. ^ that's a scenario. Not what I definitely believe will happen. Though we do more or less have a duty to leave a genuinely sustainable economic future. Personally I hope that we will also be more involved with the EU. I think that we could do quite well as part of the EU, work-wise. And I'm not convinced that Sterling has much of a future so sooner or later the ECB may very well be setting our rates anyhow. As someone else pointed out in another thread the finance sector has paid for most of what has been spent and there has been a feeding frenzy by government departments etc I thought it was the VAT receipts which had been funding govt spending hence the likely problems ahead which Mr Bell is properly warning about. So we have to ask whether, in the years ahead, we want our govt (whatever form that govt takes) to be so dependent on VAT. Link to comment Share on other sites More sharing options...
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