Il governo prendono in prestito aumenta al secondo livello più alto registrato
https://news.sky.com/story/government-borrowing-soars-to-second-highest-level-on-record-13399928?dcmp=snt-sf-twitter
di ThatchersDirtyTaint
Il governo prendono in prestito aumenta al secondo livello più alto registrato
https://news.sky.com/story/government-borrowing-soars-to-second-highest-level-on-record-13399928?dcmp=snt-sf-twitter
di ThatchersDirtyTaint
25 commenti
So since they came to power, that puts us around £14.5 billion more borrowed than forecasted.
They’re not allowed to cut anything, and they won’t put up income tax. Not a big shock. We’ll just make life harder for ourselves later
Nearly 50% more than the same month last year. £6.6 billion more than expected. £20.7 billion borrowed in one month.
>The ONS said interest payments on government debt rose to £16.4bn in June 2025, which was nearly double the amount paid at the same point last year.
https://www.bbc.co.uk/news/articles/cwygq5plz04o
So we borrowed £20.7 billion and most of that went on paying the interest on our gigantic national debt.
Hands up who thinks this is sustainable, no me neither.
Couldn’t possibly tax the wealthy so we better keep borrowing money to pay them for outsourced public services instead.
What could go wrong.
I think Rachel and Keir forgot just how left wing some pockets of Labour are. Cutting costs isn’t easy when your own party won’t allow it.
Damned if they do and damned if they don’t.
They are blocked at every turn from making cuts, they cannot raise taxes or people get pissed. But then people want better services, lower NHS wait times etc.
Something has to give at some point because none of this is sustainable. We cannot be borrowing to pay for the triple lock, so a wealthy generation can live even easier than they are.
Pay private companies for necessary services.
Dependent on paying private contractors to keep public services barely functioning.
Will not solve housing crisis to give regular people more disposable income a month to fuel the economy.
Cant solve housing crisis by increasing supply because the wealthy own all the resources to do so.
Newly built homes, swept up by private investors.
Refuses to raise taxes.
Refuses to tax wealth.
Can’t make any more cuts.
When will neoliberalism die?
You need about 20bn more per year every year to keep up with the triple lock. That’s about 650 quid per worker.
That’s why we had a big tax rise in October/April.
That’s why we needed to make big cuts this year.
Now those cuts have failed, we will need another huge tax rise and we will need it announced by October (not that long given the summer).
So what will it be?
And let it keep rising. We need to spend money to fix this nation. A country isn’t a business or a household. Other nations leverage far higher debt to gdp than we do without issue. I’m sick of ‘how will this be paid for’ whilst American and other nations print checks for themselves without thought.
What a surprise that a person who lied on their CV and has little or no experience for the job they are doing has made a mess
You wait until the Arden Law gets passed and we all have to hop on one leg
A financially inept Labour government? Whatever next.
They’re also very aware of the imminent next inflation wave, making these debts worth less. It’s how they operate.
The whole game is make believe with real world consequences.
Poverty, homelessness famine. All could be fixed if we just agreed to do it and not pretend the imaginary debt is real.
For the last 45 years people have voted for a succession of low tax governments.
In the 80s and early 90s the government sold off our national assets (energy, water, strategic industries such as steel) and used that money to subsidise low taxes.
When there were no assets left, governments started to run an annual deficit and this happened most years throughout the late 90s, early 00s right up to the present day.
As a result the government now has almost £3 trillion of debt, which costs £100 billion per year in interest alone and the annual deficit is still in the region of £120 billion.
This means every year the total debt increases, as does the interest costs.
We, the taxpayer, are now spending around 8% of total annual government spending on debt interest alone. This is almost the same as the entire education budget and nearly double what we spend on defence.
The simple fact is, taxes are too low. Everyone needs to pay a bit more, going from the lowest earner to the richest billionaire. And before people start shouting about asylum seekers etc. the cost of asylum seekers is around £5 billion per year and foreign aid is £15 billion, which while not trivial amounts, won’t even cover 20% of the deficit if those costs were eliminated completely.
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” – Alexander Fraser Tytler (Maybe)
The government if they want to could cut £50 + billion but they don’t have the will to do it!
It’s to political incorrect… so the country faces the real situation of not being able to afford it’s bills because they want to virtue signal to others
The only way out of this mess, and I’ve said it before brexit, is to abolish first past the post and move to a more representative system. The fact brexit was a protest vote in itself shows this country will continue to die until we get real representation. Voting for Tories, Labour or Reform is just going to get you more of the same.
Curiously, I kept an eye on reform when it first launched, out of curiosity, and their original platform was electoral reform. Now since gaining Russian money and other things, the reform side of reform has suddenly vanished.
Fine? Inflation goes up so the amount borrowed goes up too. Govts can borrow for way cheaper than individuals anyway
The problem is never borrowing and more what the plan is to stimulate the economy with it.
Remember that the money the government spends is newly created at point of use. They’re not borrowing it so that they can spend it later.
When they ‘borrow’, they’re swapping non-interest-bearing pounds for interest-bearing pounds. That makes inflation worse, but pushes it further away, so they can keep up the appearance of a ‘balanced budget’.
You wouldn’t vote for them otherwise, because you’ve been taught that a currency sovereign government has the same constraints as a household.
We’re fucked, aren’t we? Choo choo – all aboard the train to IMF debt ‘relief’ and turbo austerity.
Labour needs to grow a spine and just do something and stick to it. Compromising at every possibly turn is just as bad as sticking to a plan that you know won’t work.
They need to accept that they will have to break their “fiscal rules” it was a fucking stupid idea to start with as it put them in a corner before they even got started. Anyone who lives in the UK has been watching a slow moving train crash since 2007……. There are very few levers left to pull at this point and increasing taxes or getting rid of the triple lock are the 2 bigs ones.
The problem with either of these options is that you are looking at political suicide given that these would be deeply unpopular, add in the cost of living crisis and you’ve got yourself an unworkable situation. The situation we find ourselves in is the result of 15+ years of mismangement and youre dreaming if you can think any government can fix this in 1 or 2 terms of office.
I’ve said it for ages but housing is the achilles heel of the UK and if you cant fix housing costs youve got ZERO chance of fixing everything else. It has to big of an impact on peoples finances and I personally know people who cant afford to put into their workplace pension as paying for their house, bills, food etc leaves them with nothing to invest into a pension or maybe enough to enjoy life a little bit.
Given the recent news about pensions and how little people are paying in or not paying in at all, it comes as no surprise to me given that people have been squeezed to death on their monthly finances. It’s very hard to convince people to save for their future when the present has so little hope for the youth of today.
Can’t wait to hear all the idiots telling everyone else how taxing wealth more fairly and efficiently is out of the question and we’re all stupid for even suggesting such a ridiculous idea like *taxing the people who have all the money*.
Not all borrowing is equal.
Borrowing to invest in infrastructure and defence is better than borrowing to do dumbass things like the Rwanda scheme or redecorating Number 10.