Budget 2009

[Zirax]

The car scrapping scheme has been confirmed, just saw it.

• Economy forecast to shrink 3.5% in 2009

So, the worst since WW2? Spin that!

Net Debt
currently 59% deficit in GDP. Gradually increasing to 79% by 2014.

Live feed
http://news.bbc.co.uk/1/hi/uk_politics/8010759.stm

Overview
http://news.bbc.co.uk/1/hi/uk_politics/8011882.stm

50% tax over £100k earners. Like they don't know loopholes

[Zirax]

Feckers

Beer 2% midnight
fags 2% 6pm
Fuel duty 2p sept, 1p each budget going forward

[Desmo]

The usual suspects always come out of the bag

[iCraig]

I've always supported a taxation on booze and fags to be fair, raising them by 2% is fine by me. The more people quit/cut down on them both, the better the health of the nation in general and less strain on the NHS. Same with junk food, if the UK really is in an obesity epedemic talking to people in a language almost every understands (money) will push the message home that obesity related diseases and illnesses put unncessary strain on the health and benefit services that could be lessened with simple moderation.

Looking to see what he conjures up for savers. People being smart with their money are receiving no reward or incentive to keep doing so. Lack of proper savings across the nation will impact the next generations where current generations have nothing to pass on apart from debt, or, — as thought it's an acomplishment — no debt.

[divine]

Originally Posted by iCraig

Looking to see what he conjures up for savers. People being smart with their money are receiving no reward or incentive to keep doing so.

I'm not entirely together on how it works but I was under the impression the quickest way out of a recession or at least the best way to limit the damage is to spend our way out?

Surely they don't want to encourage people to hoard their money at the moment, they want them out there spending it?

Problems arise when people spend money they don't actually have, on the assumption they will have it later.

[iCraig]

Originally Posted by divine

I'm not entirely together on how it works but I was under the impression the quickest way out of a recession or at least the best way to limit the damage is to spend our way out?

Surely they don't want to encourage people to hoard their money at the moment, they want them out there spending it?

Problems arise when people spend money they don't actually have, on the assumption they will have it later.

I'm not an economist either but I'm of the understanding that's *one* way to do it. However spending will come in other forms too, not just from retail and other services. It should be the responsibility of the government, not the citizens, to drag the company into growth again. There are other ways to do it, such as creating more jobs and reducing unemployment and getting more cogs into the system to help with the overall flow of money around the entire economy. Cutting costs and government spending is always an option, but often on the shelf due to its very nature. You'll always have spenders and you'll always have savers. Expecting the savers to turn into spenders isn't fair, especially considering the cost of living is pretty high already.

[Desmo]

Oh aye, I'm not totally against taxing beer and fags, bit it's just the same old thing year after year.

[Zirax]

Going bananas on spending on cutting carbon emissions, renewable energy, homes. Not got all of it but it's at least 2bn.

Just bloody build nuclear :/

[Feek]

Originally Posted by Zirax

Just bloody build nuclear :/

I have to agree with this.

[iCraig]

Originally Posted by Zirax

Just bloody build nuclear :/

I watched a documentary on iPlayer not long ago about the future of energy and according to that and some very respected Nuclear experts it's simply incapable of catching up with the demand. The figures just didn't add up. The time it takes for a plant to be built, and its lifespan etc, it fell short of the country's current power demands, never mind the future demands. Renewable energy such as wind and solar power was also dismissed as nothing but a minor contributor.

Fusion power seems to be the future. The first experimental reactor has been built and under heavy testing. They're hoping to harness the power properly within 20 years. By the sounds of it Fusion power stations would outperform Nuclear many times over, and best of all, is completely clean. For those interested, read up on it. In a nut shell it's harnessing the same energy created by the sun.