Hurt hammer about to fall - UK emergency budget
 

Either this has been hyped to be so painful that when it actually comes out people will think 'hey, that wasn't SO bad' or it is really going to be extra special hard cuts. The day before England plays means it only has one day as the main headline too..smart.

Going to have to do something to clear up Gordon's mess.

lets see!!

If they were smart they would have passed it tomorrow then it would not be in the head lines at all the headlines would be England crashing out of the World Cup :1orglaugh

The bill for Gordon Browns spending spree has arrived.

VAT up from 17.5% to 20%

That's going to raise a HUGE amount.

Remember when it was taken down a small amount and a big deal was made about it?

Its 25% in Denmark so you are still doing OK in my eyes.

Yes. With the temporary 15% I'd like to know if it actually increased spending as intended, but seeing as they are putting it up now i doubt it.

should he have let the banks collapse then?

I dont care... I'm just gonna stick my fingers in my ears, and go "Lalalalalalal" and continue living in my own little deluded self sufficient bubble of badness

Yes :2 cents:

well the government in this country has a savers guarantee scheme where they will compensate personal customers up to £50k per bank account held in different banks. can you imagine how much that would have cost, if numerous banks were going to the wall.

then you would have catastrophic effect on business with no lending going on.

then there's the permanent damage to the reputation of the british financial sector, with london being one of the largest financial centres of the world, which is a very large revenue generator for the british ecconomy.

the british ecconomy would have had a serious depression not a recession if most of the major banks had collapsed.

the worldwide financial crisis was triggered just by lehman bros collapsing.

It may well raise a lot but the UK is still far short of actually solving the deficit...... and once that has been solved, theyll have to start cutting the national debt.