UK borrowing at record high as virus cost soars
22/05/2020 | news | business | 1,663
The government borrowed £62bn in April - the highest monthly figure since records began.
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22/05/2020 14:06:34 338 55
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Borrowing won't come down, until people stop avoiding taxes by offshoring their wealth.
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22/05/2020 14:44:35 6 0
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@ 1. Bentley Rhythm Ace "Borrowing won't come down, until people stop avoiding taxes by offshoring their wealth" The EU starting clamping down in this in 2015 which the ERG didn't like (because of their tax-dodging) and got the Brexit ball rolling. What you're suggesting is what Brexit has given our govt a mandate to avoid until MPs decide to put their personal wealth at risk for us plebs.
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22/05/2020 15:14:21 26 10
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1. Posted by Bentley Rhythm Ace on 1 hour ago Borrowing won't come down, until people stop avoiding taxes by offshoring their wealth. --- This is a Tory government, that ain't going to happen. Especially now they can de-regulate as we're out of the EU.
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22/05/2020 16:57:54 8 5
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1. Bentley Rhythm Ace Borrowing won't come down, until people stop avoiding taxes by offshoring their wealth. _ And that won't happen because that was what Brexit was all about.... avoiding new EU financial transparency laws to maintain our dodgy tax havens. This is why Leave was bankrolled by hedge-funders and other dodgy money
22/05/2020 22:07:07 1 0
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@ 1 People offshoring wealth. Would that also include ordinary British people who have second homes/apartments/holiday lets in Spain/Portugal etc & then also pocket rent when let out during the year?
23/05/2020 10:02:30 3 0
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1. Posted by Dominic The Dancing Queen Borrowing won't come down, until people stop avoiding taxes by offshoring their wealth -- *When individuals featuring in infamous 'Panama papers' are in charge of EU *When the lobbyists dictate laws in Washington, Brussels & London *When countries like Luxembourg or Ireland compete to provide the lowest taxes possible for corporations = no chances
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22/05/2020 14:07:04 24 18
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Another one to file in the Bears, Woods section
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22/05/2020 14:07:55 402 36
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Any measures introduced to pay this debt off must include a clampdown on offshore tax avoidance and the properly taxing tech firms who currently don’t pay in fairly. Everyone is going to have to contribute to the repayment of this debt; any corporations or individuals found not to be paying fairly must be challenged at every opportunity.
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22/05/2020 15:09:59 23 8
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@3 "Any measures introduced to pay this debt off must include a clampdown on offshore tax avoidance and the properly taxing tech firms who currently don’t pay in fairly." The largest contributors to the Tory Party are the tax avoiders themselves. The Bamfords, Ashcroft, Armitage, Griffin etc. We know who they are (thanks to the Panama Papers) but we elect them anyway! We are to blame!
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22/05/2020 15:21:55 11 2
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3. Posted by BWhit480 on 1 hour ago Any measures introduced to pay this debt off must include a clampdown on offshore tax avoidance and the properly taxing tech firms who currently don’t pay in fairly. --- Yes, let's start with the billionaire Tory newspaper owners such as Barclay brothers (Telegraph), Viscount Rothermere (Daily Mail), and Murdoch (Sun, Times). They're all at it.
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PJB
22/05/2020 16:12:28 6 1
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@3 "Any measures introduced to pay this debt off must include a clampdown on offshore tax avoidance and the properly taxing tech firms who currently don’t pay in fairly." Quite agree and every company doing business in the UK should have a registered office here with full liability for UK taxes. And yes - note to Rees Mogg and the cabal on offshore "investment" shenanigans.
23/05/2020 12:03:32 4 3
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3. Posted by BWhit480 (highest rated) "Everyone is going to have to contribute to the repayment of this debt" No they're not. MORE FINANCIALLY ILLITERATE RUBBISH JUST LIKE 'AUSTERITY MEASURES' Completely inaccurate nonsense, shame on you BBC. you really need to find some better 'economists' https://www.youtube.com/watch?v=1doyLBvyvFE
23/05/2020 13:10:19 6 1
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3. BWhit480 "Any measures introduced to pay this debt off must include a clampdown on offshore tax avoidance and the properly taxing tech firms who currently don’t pay in fairly." Only one problem with that. Tax AVOIDANCE is perfectly legal and is encouraged. If you claim your single/married allowance - you are avoiding tax. If you claim a mortgage allowance - you are avoiding tax.
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22/05/2020 14:07:55 4 5
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Can I borrow a pound please?
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22/05/2020 15:15:01 12 11
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04. Rotherham Lad “So, Tory austerity to address the debt problem from 2010 onwards did nothing of the sort. People suffered and even died as a result of Tory ideological class warfare.” I’ve never been so utterly shocked as when I watched the northern working class turn out in their droves to vote Tory after 10 years of austerity. Really showed the power of the right wing press.
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22/05/2020 14:07:55 10 83
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Debt Debt Debt, we need to cut regulations for Jobs so people can employment faster
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22/05/2020 14:12:37 207 53
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@5 "we need to cut regulations for Jobs so people can employment faster" NOPE This is NOT the USA.
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22/05/2020 14:08:55 15 43
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Country heading towards bankruptcy. We're doomed!
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22/05/2020 14:09:36 11 9
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This is not news to anyone but if nothing else to report on I guess journos need to protect their jobs too.
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22/05/2020 14:14:28 20 8
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7. Posted byLABerryon 2 minutes ago This is not news to anyone but if nothing else to report on I guess journos need to protect their jobs too. -- Yes, obviously they should be reporting on how well brexit is going or how well we are doing at combating this virus, right? Cheerful stuff like that?
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22/05/2020 14:09:36 271 25
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Anyone remember the Panama Papers ?
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22/05/2020 14:09:56 36 6
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I fear for my savings.
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22/05/2020 14:09:56 140 48
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And the young will be the ones who have to pay most of it back!
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22/05/2020 14:40:02 59 5
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10. SamB And the young will be the ones who have to pay most of it back! --- Just like i have spent most of my life paying towards the debt from ww2. Stuff happens, thats life.
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22/05/2020 15:21:25 16 0
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10. Posted by SamB on 1 hour ago And the young will be the ones who have to pay most of it back I agree they will just as us Boomers had to pay for the cost of WW2
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22/05/2020 14:09:56 8 1
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The only growth industry in the UK
The tax payer bailed out the banks, it is time the banks repaid the favour with all that money they launder through drug cartels. Removed
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22/05/2020 14:10:36 256 34
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Time to trim the hedge funds and offshore accounts, which were set up to be 'tax efficient'... Big pots here to meet most, if not all, of the needs of our state and its suffering citizenry.
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22/05/2020 14:10:36 4 1
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Obvious. !
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22/05/2020 14:10:36 103 12
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Brace yourselves...we're about to be handed the bill for LOCKDOWN-20...
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22/05/2020 14:10:56 19 24
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Boomers are the only generation since man invented fire that have left their children in a worse off situation
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22/05/2020 14:12:57 7 0
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16. Posted bySteH11 Your comment is pathetic and not worthy of a more considered reply.
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22/05/2020 14:16:12 6 2
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16 SteH11. What about those who lost Rome and brought on the Dark Ages? What about those that spread the Black Death in 1348? Or those turfed off the land to suffer in Lancashire Mills and Yorkshire mines in the 1830s?
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22/05/2020 14:10:56 25 15
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Put Kuenssberg and Pym in charge they seem to have all the answers......then again it is normally after the event so maybe not.
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22/05/2020 14:10:56 9 6
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People just want Doom and gloom that's all they don't think positive just negative that's all we have now in this world complete morons who just love pain and suffering
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22/05/2020 14:10:56 17 23
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Government borrowing surged to £62bn in April, the highest monthly figure on record, after heavy spending to ease the coronavirus crisis. Stating the obvious BBC.
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22/05/2020 14:12:27 66 9
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19. TwitterVox Government borrowing surged to £62bn in April, the highest monthly figure on record, after heavy spending to ease the coronavirus crisis. Stating the obvious BBC. -- The trend/behaviour is obvious, but I'd like to see how you could have come up with that figure in the same way the ONS team did.
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22/05/2020 14:11:16 11 6
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Vanity, greed and stupidity. Time to pay the price.
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22/05/2020 14:11:16 15 16
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Looks like I’m going to have to tighten my Belt! TV license first thing to cancel.
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22/05/2020 14:15:09 69 34
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21. Posted byjackthedogon 1 minute ago "Looks like I’m going to have to tighten my Belt! TV license first thing to cancel". So we will not be seeing you on here any more posting your comments then.
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22/05/2020 14:11:27 26 54
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Well, at least we can afford to, thanks to hard decisions taken by this and previous governments over the last ten years.
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22/05/2020 15:50:42 10 6
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@ 22 So you support the Tory governments actions over the last ten years. Does that include them cutting the NHS to the bone? Support the NHS at the moment? Clap them? How do you reconcile that with voting Tory? Hypocrite.
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22/05/2020 14:11:27 9 8
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Goodness me, more reporting of the obvious! Journalism really has been poor during this pandemic, always looking for the negative in everything they report!
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22/05/2020 14:11:27 14 47
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But that's OK. Is there anything else the bleeding hearts want to give away and make free this week?
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22/05/2020 14:11:27 11 5
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We shouldn't keep passing on Government Debt to the next generation. We need the Govt to make it clear we will all have to make a contribution to pay something extra from next year onwards.
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22/05/2020 14:11:47 22 12
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How is this ever going to be repaid, Boris acted so slowly, he is ultimately responsible for his own failure.
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22/05/2020 14:11:47 17 31
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Any Government would be facing this situation given the C19 virus. I'd suggest that if Labour were in charge then we'd be facing a tota lmeltdown and complete lack of business confidence for five years.
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22/05/2020 14:14:38 24 14
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27. Posted byGeneral Apathyon Just now Any Government would be facing this situation given the C19 virus. I'd suggest that if Labour were in charge then we'd be facing a tota lmeltdown and complete lack of business confidence for five years. +++ We are facing a total meltdown and complete lack of business confidence, perhaps if we had a different government at least less ppl may have died
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22/05/2020 14:20:11 24 11
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27 Any Government would be facing this situation given C19 virus. I'd suggest that if Labour were in charge then we'd be facing a tota lmeltdown and complete lack of business confidence for five years + If we want to go hypothetic... if the right Miliband had won Watson not Corbyn if Torys understood the difference between advisory and binding I could go on and I dont even vote labour.
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22/05/2020 14:11:47 6 8
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with an altruistic head on everyone thats had to cancel there holiday and got their money back could pay this off its about £900 each.
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22/05/2020 14:11:47 33 3
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Don't know what they are worried about . The borrowing so far wouldn't even pay for a London railway line . Puts it into perspective .
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22/05/2020 14:12:17 27 59
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If anyone should pay for all this spending it should be the Chinese government if it is truly proven that this could have been prevented by their mismanagement of this whole pandemic, they should pay for this just like we payed our debt to the Americans for World War 2
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22/05/2020 14:17:20 14 7
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30. Posted by Gaffer73 on If anyone should pay for all this spending it should be the Chinese government if it is truly proven that this could have been prevented by their mismanagement of this whole pandemic, they should pay for this just like we payed our debt to the Americans for World War 2 == Lolz, we'll send over Dad's Army
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22/05/2020 14:12:17 18 2
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I'm not entirely sure the government had much choice. The alternative would have been economic collapse leading to social unrest as people who manage payday to payday suddenly found themselves homeless and unable to feed their family.
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22/05/2020 14:33:49 8 5
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31 TadpoleThe1st `The alternative would have been economic collapse leading to social unrest as people who manage payday to payday suddenly found themselves homeless and unable to feed their family.' Economic collapse and social unrest remain on the cards. Unless someone comes up with a good plan we are going to be running around for years trying to stick patches on this disaster.
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22/05/2020 14:12:27 8 16
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Most Money will have to be spent on mental health as this seems to be all the rage encouraged by the ministry of propaganda.
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22/05/2020 14:12:27 29 22
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Since being elected Boris refused to work weekends Took a 2 week holiday in Feb He skipped 1st 5 COBRA Coronavirus meetings He initially wanted "Herd Immunity" & seemingy he & Cummings were willing to "let the old people die" He didnt prepare the NHS with PPE He refused to believe testing was essential He delayed locking down the nation He needs to be hold accountable
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22/05/2020 14:17:40 10 2
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@33 I disagree. Not at all surprised by the 'news item' above. Glad we have a government which is willing to do this to try and save as many jobs and livelihoods as possible. The bounce back following this terribly difficult time should be quicker than WW2 as interest rates remain tiny. Hibernation is not death.
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22/05/2020 14:10:56 17 23
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Government borrowing surged to £62bn in April, the highest monthly figure on record, after heavy spending to ease the coronavirus crisis. Stating the obvious BBC.
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22/05/2020 14:12:27 66 9
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19. TwitterVox Government borrowing surged to £62bn in April, the highest monthly figure on record, after heavy spending to ease the coronavirus crisis. Stating the obvious BBC. -- The trend/behaviour is obvious, but I'd like to see how you could have come up with that figure in the same way the ONS team did.
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22/05/2020 14:07:55 10 83
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Debt Debt Debt, we need to cut regulations for Jobs so people can employment faster
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22/05/2020 14:12:37 207 53
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@5 "we need to cut regulations for Jobs so people can employment faster" NOPE This is NOT the USA.
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22/05/2020 14:10:56 19 24
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Boomers are the only generation since man invented fire that have left their children in a worse off situation
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22/05/2020 14:12:57 7 0
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16. Posted bySteH11 Your comment is pathetic and not worthy of a more considered reply.
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Cam
22/05/2020 14:12:57 5 3
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Well I never!
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22/05/2020 14:12:57 235 34
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Tax evasion and avoidance has to stop. Clamp down across the world.
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22/05/2020 14:32:48 8 2
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"38. Posted byTornado pants Tax evasion and avoidance has to stop. Clamp down across the world." And stop buying all your tat through tax-avoiding Amazon!
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22/05/2020 16:07:13 6 0
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38. Posted byTornado pantson 2 hours ago Tax evasion and avoidance has to stop. Clamp down across the world. Couldn't agree more - a lot 'legal' avoidance does not meet the spirit of the rules. Set up a panel to pass common sense judgments. Forget trying to close never ending loop holes.
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22/05/2020 14:13:07 9 4
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This is the real disaster, not the Coronavirus
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22/05/2020 14:13:18 10 22
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Abolish rates, corporation tax and stamp duty and main homes (tax on the efficient employment of people who need to move) and then raise VAT the required amount to offset. Overall result = high street shops paying less to the taxman and the tech firms can't avoid VAT as easily and can't offshore their profits so pay more .. and people aren't penalised for moving to better jobs.
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22/05/2020 14:17:30 5 4
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40. Posted by Martin on Just now Abolish rates, corporation tax and stamp duty and main homes (tax on the efficient employment of people who need to move) and then raise VAT the required amount to offset. Brilliant - that's really going to help the low paid renters !!!! Including key workers!!!
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22/05/2020 14:55:41 1 0
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#40 Martin your comment tells me you know nothing about VAT so don’t suggest uses for using VAT to hit Tech firms. They pay it and recover it to net out at zero
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CSE
22/05/2020 15:35:03 9 0
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40 - "Abolish rates, corporation tax ... and then raise VAT the required amount to offset". Companies do not pay VAT, so it would make no difference to them. It's you who pays VAT. Example. You pay 120. The company keep 100 & passes the 20 over to the taxman. With your idea, you would pay 130, the company keeps 100 (same) & passes over 30. It's you that would be worse off.
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22/05/2020 14:13:18 16 10
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In the Tories accuse Labour of being a "Tax and spend" Party !!!!! Welcome to the new "Borrow and tax" party.
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22/05/2020 14:21:02 7 4
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41. the_hot_chef In the Tories accuse Labour of being a "Tax and spend" Party !!!!! Welcome to the new "Borrow and tax" party. = Says someone who is benefitting from it.
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22/05/2020 14:13:18 149 66
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For the self-appointed spokespeople of the "Department of the Bleedin' Obvious" using this baffling justification to mock the BBC for reporting it: For goodness sake it's the BBC's job to report that government borrowing has risen! Reporting that something is happening doesn't mean the BBC is gloating about it or using it as a stick to bash your particular political persuasion...
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22/05/2020 14:35:30 4 1
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42. Kerans "Reporting that something is happening doesn't mean the BBC is gloating about it or using it as a stick to bash your particular political persuasion..." --- Only the very insecure are incapable of taking bad news on the chin. Rather than have to hear it. They shoot the messenger first.
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22/05/2020 14:13:18 18 26
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Thank the heavens we didn't end up with Corbyn & Labour. Borrowing, to pay for their fantasy manifesto, would be ten times this.
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22/05/2020 14:16:49 14 8
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@43. "Thank the heavens we didn't end up with Corbyn & Labour. Borrowing, to pay for their fantasy manifesto, would be ten times this." No, it would have been a third of this. Not even Labour's wildest fantasies would have them paying a third of the population to do nothing.
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22/05/2020 14:13:18 11 3
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Not exactly shocking news under the circumstances. The one aspect of this crisis that the British government have dealt with effectively is the financial support for individuals. Of course this needs to be paid for in some manner in the future, but the support was essential and for the most part was provided quickly and effectively.
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22/05/2020 14:13:18 4 5
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Let's hope London, and the South East, by far and away the net contributors to the UK - find new ways of making money after potentially being shut out of the UK market. Failing that, I remember in the 2013 Scottish indyref that Scotland was entitled to no UK assets in our 'union', and so no debt. har har.
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22/05/2020 14:15:49 6 2
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45. Posted by Galalean Let's hope London, find new ways of making money after potentially being shut out of the UK market. What are you referring too?
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22/05/2020 14:13:48 11 13
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Well maybe now the Tories and right wing voters will understand that a low tax society might not be a good thing in times of disaster and crisis!
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22/05/2020 14:13:48 12 11
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Send an invoice to China. Failing that, tax amazon, Facebook et al.
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22/05/2020 14:13:58 6 2
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So borrow and spend replaces tax and spend.
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22/05/2020 14:14:08 44 4
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At least it's Friday.
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22/05/2020 14:17:30 28 5
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49. Posted byPichael Thompsonon Just now At least it's Friday. -- Every day seems like a Sunday to me.
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22/05/2020 14:14:08 51 6
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Tax rises everyone
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JJ
22/05/2020 14:32:18 8 9
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"50. Posted byPandaon Tax rises everyone" I don't think so. Tax rises for all, but the tax avoiding Tory donors. Vote Tory support tax avoidance.
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22/05/2020 14:14:08 21 19
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Wealth tax and cancel Brexit, you know it makes sense, even you right wingers.......
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22/05/2020 14:14:08 21 7
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Today's children and grandchildren will be the ones paying all this back - for many years.
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22/05/2020 14:38:42 6 6
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"52. SEJ016 Today's children and grandchildren will be the ones paying all this back - for many years." It was the same for the much maligned baby boomers who spent their lives paying back the war debt. The real issue is, can future governments manage the economy better than the Tory-dominated decades that the boomers had to suffer. And no, the majority of boomers didn't vote for them.
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22/05/2020 14:14:18 191 16
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Well off people with "creative accountants" ( crooks) will not contribute much. People on benefits and theo slightly lower paid will not pay anything because like prescriptions they are exempt . It will be the average person on a low salary but not low enough to be deemed poverty stricken who will bear the brunt The middle to lower as usual.
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22/05/2020 14:14:18 15 6
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Can I ask please who we are "borrowing" this money from. It can't be other countries as they are also borrowing It cant be the banks as they had to "borrow" during the banking crisis It can't be the European Central Bank because its money is owned by countries who are now borrowing. If its the multi-billionaire tax avoiders, then rather than "borrow" call it "back tax"
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22/05/2020 14:14:28 7 10
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More positivity from Auntie B in the analysis section today. Nope. Maybe one day.....
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22/05/2020 14:22:33 4 2
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@55. "More positivity from Auntie B in the analysis section today. Nope...." I'm sure they looked hard for some positivity but probably couldn't find any. Perhaps you could help them out? Positivity is no excuse for naivety.
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22/05/2020 14:09:36 11 9
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This is not news to anyone but if nothing else to report on I guess journos need to protect their jobs too.
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22/05/2020 14:14:28 20 8
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7. Posted byLABerryon 2 minutes ago This is not news to anyone but if nothing else to report on I guess journos need to protect their jobs too. -- Yes, obviously they should be reporting on how well brexit is going or how well we are doing at combating this virus, right? Cheerful stuff like that?
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22/05/2020 14:11:47 17 31
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Any Government would be facing this situation given the C19 virus. I'd suggest that if Labour were in charge then we'd be facing a tota lmeltdown and complete lack of business confidence for five years.
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22/05/2020 14:14:38 24 14
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27. Posted byGeneral Apathyon Just now Any Government would be facing this situation given the C19 virus. I'd suggest that if Labour were in charge then we'd be facing a tota lmeltdown and complete lack of business confidence for five years. +++ We are facing a total meltdown and complete lack of business confidence, perhaps if we had a different government at least less ppl may have died
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22/05/2020 14:14:38 10 4
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Look at that graph at the bottom! Debt has been going up continuously for 15 years! Surely at some point it becomes too much and the whole thing just crashes down?
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22/05/2020 14:07:38 99 29
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Hey rich folk, stop avoiding taxes. Don't be selfish.
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22/05/2020 14:42:17 1 3
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"59. ScarfolkIsRealForMoreInfoPleaseReRead Hey rich folk, stop avoiding taxes. Don't be selfish" -- In the interest of balance, I have to wonder the reasoning behind tax avoidance, sure maximising profit is one answer, another answer could be that they feel they can spend the money in better & more efficient ways. One thing is clear, governments can be very wasteful & have sticky fingers
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22/05/2020 14:07:38 11 11
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Wow, who would have thought it, the government paying to keep over 6 million people employed along with all the other schemes they have going during these unprecedented times. Just thankful that austerity over the last decade left the country in a position to be able to deal with this as well as they have.
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22/05/2020 14:29:57 7 8
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60. Diddleypete Wow, the govt paying to keep over 6 million people employed during these unprecedented times. Just thankful that austerity over the last decade left the country in a position to be able to deal with this as well as they have. -- Austerity left govt DEEPER in debt than 2010. Cuts shrink economy & so tax revenues. Hence having to borrow £60B in Mar, £14B in Apr, £xB in Feb...
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22/05/2020 14:14:38 51 28
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We should never have gone into lockdown Rather we should have protected our vulnerable as Sweden has done Yesterday’s news that 17% of Londoners have had it, yet the hospitals were never close to being over run shows the virus isn’t particularly dangerous for the vast majority of young and healthy History will show we have managed this badly
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22/05/2020 14:23:53 13 18
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61. Posted by Mac Sinclair "We should never have gone into lockdown Rather we should have protected our vulnerable as Sweden has done" Yes we had to go into lockdown because Johnson/Patel/Gove/Cummings chose not to listen to the experts and decided the UK could "tough it out". They are as stupid as Trump. Ingerlish Exceptionalism has caused many deaths.
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22/05/2020 14:28:36 7 5
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61. Posted byMac Sinclairon We should never have gone into lockdown ..//.. the hospitals were never close to being over run shows the virus isn’t particularly dangerous for the vast majority of young and healthy History will show we have managed this badly - - - - - - - - - - - - - - We didn't hit capacity *because* we took preventative steps based on the then current information. FFS
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22/05/2020 14:11:48 46 28
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Britain has had a National debt since just after the Dutch coup in 1692. It has averaged 90% of GDP for 328 years. It hit a high of 247% in 1946 and a low of about 22% in the mid 1990s. It has never been repaid. The Tories have now more than doubled it in ten years adding £950 billion and putting it over 100% for the first time since 1966.
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22/05/2020 14:19:01 6 2
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@62 'Britain has had a National debt since just after the Dutch coup in 1692.' There wasn't a Britain in 1692. Also I think you'll find your nemesis William of Orange, landed in Brixham in Devon in 1688.
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22/05/2020 14:15:09 25 9
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From a personal point of view if I want to get a loan I'm looking at an interest rate in the teens. On my savings I'm lucky to get 0.5%. Until there is financial fairness in society it doesn't matter what state the county is in as the poor worker/borrower will always be stuffed.
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MVP
22/05/2020 14:15:09 34 23
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It will take decades to get over this particularly with Brexit too.
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22/05/2020 14:15:09 32 22
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“ Thank the heavens we didn't end up with Corbyn & Labour. Borrowing, to pay for their fantasy manifesto, would be ten times this.” The definition of deflection. It isn’t Corbyn, it’s Johnson. And this is nearly quadruple the ridiculous figures bandied about by Corbyn. Only this is in two months not five years!
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22/05/2020 14:11:16 15 16
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Looks like I’m going to have to tighten my Belt! TV license first thing to cancel.
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22/05/2020 14:15:09 69 34
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21. Posted byjackthedogon 1 minute ago "Looks like I’m going to have to tighten my Belt! TV license first thing to cancel". So we will not be seeing you on here any more posting your comments then.
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22/05/2020 14:15:09 14 5
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It has been necessary to borrow this money to stop the economy from total collapse during this pandemic. Yes, times will be hard looking ahead, tax will go up, the government will have to hunt down the offshore tax dodgers, but it still had to be done. Also, every country is in the same boat.
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22/05/2020 14:15:19 7 4
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So, prior to covid-19, debt interest was covered by tax revenues. The Chancellor tells us there's going to be a major recession. Doesn't that infer tax revenues will fall due to millions losing their jobs? Add to that Brexit, and we'll be in hock for 100 years!
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22/05/2020 14:19:01 11 11
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68 Ron Campbell Add to that Brexit, and we'll be in hock for 100 years! = Brexit is going to save us from the disaster brewing in the Eurozone where debts are proposed to be 'pooled'
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Stop being Negative people be positive, we need to cut regulations fast for Jobs we need people to enter work fast stop being covid morons Removed
69. Posted bydeanon 2 minutes ago Stop being Negative people be positive, we need to cut regulations fast for Jobs we need people to enter work fast stop being covid morons -- Yeah everyone, listen to this conspiracy moron and go out and get yourself ill. Be positive as you die to make shareholders happy. Removed
45
22/05/2020 14:13:18 4 5
bbc
Let's hope London, and the South East, by far and away the net contributors to the UK - find new ways of making money after potentially being shut out of the UK market. Failing that, I remember in the 2013 Scottish indyref that Scotland was entitled to no UK assets in our 'union', and so no debt. har har.
70
22/05/2020 14:15:49 6 2
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45. Posted by Galalean Let's hope London, find new ways of making money after potentially being shut out of the UK market. What are you referring too?
73
22/05/2020 14:16:19 2 1
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@70 My @45 should read "EU market" not "UK market"!
71
22/05/2020 14:15:59 10 2
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It had to be done. I just hope the recovery and pay back is over many years.
72
22/05/2020 14:15:59 73 4
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It would be better if these figure were quoted on a per person basis, the figure are more meaningful. The Government has borrowed £1000 in April for every man, woman & child in the country
86
22/05/2020 14:19:01 14 2
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@72 "The Government has borrowed £1000 in April for every man, woman & child in the country" except some people have received nothing.....
118
22/05/2020 14:23:43 1 1
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#72 How is that meaningful? Stats need comparisions this stat on it's own is just a number How does compare to all the other borrowing the Govt. does, how does it compare to other countries in similar situations
70
22/05/2020 14:15:49 6 2
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45. Posted by Galalean Let's hope London, find new ways of making money after potentially being shut out of the UK market. What are you referring too?
73
22/05/2020 14:16:19 2 1
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@70 My @45 should read "EU market" not "UK market"!
74
bbc
I didn't realise you needed a TV licence to post comments on this forum. Oh wait. You don't. Removed
43
22/05/2020 14:13:18 18 26
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Thank the heavens we didn't end up with Corbyn & Labour. Borrowing, to pay for their fantasy manifesto, would be ten times this.
75
22/05/2020 14:16:49 14 8
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@43. "Thank the heavens we didn't end up with Corbyn & Labour. Borrowing, to pay for their fantasy manifesto, would be ten times this." No, it would have been a third of this. Not even Labour's wildest fantasies would have them paying a third of the population to do nothing.
76
joe
22/05/2020 14:17:20 18 9
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Cant wait to see the cost this time next year after disastrous Brexit. Record borrowing now? Records there to be broken. At least Gov ministers will not worry about EU clamping down on their off shore tax havens
30
22/05/2020 14:12:17 27 59
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If anyone should pay for all this spending it should be the Chinese government if it is truly proven that this could have been prevented by their mismanagement of this whole pandemic, they should pay for this just like we payed our debt to the Americans for World War 2
77
22/05/2020 14:17:20 14 7
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30. Posted by Gaffer73 on If anyone should pay for all this spending it should be the Chinese government if it is truly proven that this could have been prevented by their mismanagement of this whole pandemic, they should pay for this just like we payed our debt to the Americans for World War 2 == Lolz, we'll send over Dad's Army
40
22/05/2020 14:13:18 10 22
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Abolish rates, corporation tax and stamp duty and main homes (tax on the efficient employment of people who need to move) and then raise VAT the required amount to offset. Overall result = high street shops paying less to the taxman and the tech firms can't avoid VAT as easily and can't offshore their profits so pay more .. and people aren't penalised for moving to better jobs.
78
22/05/2020 14:17:30 5 4
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40. Posted by Martin on Just now Abolish rates, corporation tax and stamp duty and main homes (tax on the efficient employment of people who need to move) and then raise VAT the required amount to offset. Brilliant - that's really going to help the low paid renters !!!! Including key workers!!!
49
22/05/2020 14:14:08 44 4
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At least it's Friday.
79
22/05/2020 14:17:30 28 5
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49. Posted byPichael Thompsonon Just now At least it's Friday. -- Every day seems like a Sunday to me.
33
22/05/2020 14:12:27 29 22
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Since being elected Boris refused to work weekends Took a 2 week holiday in Feb He skipped 1st 5 COBRA Coronavirus meetings He initially wanted "Herd Immunity" & seemingy he & Cummings were willing to "let the old people die" He didnt prepare the NHS with PPE He refused to believe testing was essential He delayed locking down the nation He needs to be hold accountable
80
22/05/2020 14:17:40 10 2
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@33 I disagree. Not at all surprised by the 'news item' above. Glad we have a government which is willing to do this to try and save as many jobs and livelihoods as possible. The bounce back following this terribly difficult time should be quicker than WW2 as interest rates remain tiny. Hibernation is not death.
141
22/05/2020 14:26:56 3 1
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80 Noel Stevens. Correct. Great Britain was founded in 1707. The debt from 1692 to 1707 was just England's. I said just after the Dutch Coup. Of course that was 1689/90. The Dutch had to invade via Devon as contrary to popular belief, they were not "invited". Foreign Kings who are invited tend to sail up the Thames to Westminster unchallenged.
81
22/05/2020 14:18:00 10 7
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dont worry boris will stand up next week and declare no taxes will rise under his premiership,then we can wait when things get better to massive tax hikes disguised as moderate rises to help the economy,where can the tories really make up this borrowing is easy,its income tax.car tax.fuel tax,vat and numerous other taxes imposed on businesses,dont expect amazon to complain,they wont be hurt at all
82
22/05/2020 14:18:00 8 17
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You're being softened up for a Second Referendum. Deep down you know it.
111
22/05/2020 14:22:33 14 10
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82. Posted by The mythical Dyson ventilator on Just now You're being softened up for a Second Referendum. Deep down you know it. = LOL, no chance, all leave has to do is point out the current Eurozone debts AND we'd be expected to 'chip in' - then we'd have a 5th straight leave vote victory. Lock-down has got to you.
83
22/05/2020 14:18:10 64 28
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No, Mr Sunak, the government did not step in. The taxpayer stepped in just as we did in 2008 when you bankers stuffed everyone. The most tedious aspect of recent weeks is being told how the government has done this or that. No, it is the taxpayers who make it all possible because we underpin the state. What would be nice is for the egos in government to treat us as the adults we are.
84
22/05/2020 14:18:10 15 8
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And this is the cost of Governments actions to avert the NHS being unable to cope. Fact 50,000 people die in the UK every month (from 2019 stats) so how many lives have been saved for the current £62.6 billion pounds? We are all going to die eventually some have died earlier than expected due to virus. Estimated cost £337 Billion to overcome, and with no end insight.
85
22/05/2020 14:18:20 9 1
bbc
Double accounting has always meant double standards! Capitalism is not a flawed concept itself, but when it's dominated by corrupt capitalists then it breeds inequality. Business is intended to create wealth for the nation as a whole. The workers should have some stake in the fruits of their labour. When this debt matures, the capitalists must dig deep into their balance sheets!
137
22/05/2020 14:27:45 18 5
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85 Juan-Malcolm-Patone The workers should have some stake in the fruits of their labour. = Perhaps they might like to participate to the extent of pledging their homes as security when the business takes out a loan as well? Directors often have to do so.
72
22/05/2020 14:15:59 73 4
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It would be better if these figure were quoted on a per person basis, the figure are more meaningful. The Government has borrowed £1000 in April for every man, woman & child in the country
86
22/05/2020 14:19:01 14 2
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@72 "The Government has borrowed £1000 in April for every man, woman & child in the country" except some people have received nothing.....
87
bbc
22/05/2020 14:19:01 11 6
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Time to stop this over reaction and get back to work to get the economy moving. The chinese are already buying up struggling companies worldwide.
88
22/05/2020 14:19:01 9 8
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The economic impact will be even harder if the Government fails to negotiate a Brexit deal with the EU. Now is not the time to be reliant upon doing 'our own trade deals' to replace those that we are about to lose. The Government, which has been slow to acknowledge its Covid mistakes , must now be honest about the full cost and consequences of a failure to do an appropriate deal with the EU.
62
22/05/2020 14:11:48 46 28
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Britain has had a National debt since just after the Dutch coup in 1692. It has averaged 90% of GDP for 328 years. It hit a high of 247% in 1946 and a low of about 22% in the mid 1990s. It has never been repaid. The Tories have now more than doubled it in ten years adding £950 billion and putting it over 100% for the first time since 1966.
89
22/05/2020 14:19:01 6 2
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@62 'Britain has had a National debt since just after the Dutch coup in 1692.' There wasn't a Britain in 1692. Also I think you'll find your nemesis William of Orange, landed in Brixham in Devon in 1688.
68
22/05/2020 14:15:19 7 4
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So, prior to covid-19, debt interest was covered by tax revenues. The Chancellor tells us there's going to be a major recession. Doesn't that infer tax revenues will fall due to millions losing their jobs? Add to that Brexit, and we'll be in hock for 100 years!
90
22/05/2020 14:19:01 11 11
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68 Ron Campbell Add to that Brexit, and we'll be in hock for 100 years! = Brexit is going to save us from the disaster brewing in the Eurozone where debts are proposed to be 'pooled'
133
22/05/2020 14:27:05 6 4
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@90. "Brexit is going to save us from the disaster brewing in the Eurozone where debts are proposed to be "pooled"" It makes no difference, we weren't in the Euro remember? There is a plan to borrow money for the whole EU but that's no more risky than what we're doing, maybe less so.
91
22/05/2020 14:19:11 3 1
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However, If UK Bond yields go sub zero, then the repayment of that debt might turn into a "nice little earner" !! Cushty !!
92
22/05/2020 14:19:11 13 1
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Cannot help but believe lots of people are taking advantage of this situation....Government grant's that don't need to be repaired as well as loans not secured against anything, wages paid without checks...suspect billions being wasted.
93
chf
22/05/2020 14:19:21 8 6
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Borrowing up? Why has something happened....why is this even news.
94
22/05/2020 14:19:21 7 4
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Covid is just the icing on the cake as far as debt is concerned, given the last 20 years or so. Share and House Prices and of course Bonuses. Never has so much been spent by so many, with so little, to the benefit of so few with so much.
95
22/05/2020 14:19:41 38 8
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all the "borrow and tax" statements are ridiculing the government are ridiculous... they are borrowing because there's very little taxable income right now full stop, they are borrowing to give people and business a short term safety net... You can't raise taxes on income/profits that aren't there..... Sometimes I despair at the ignorance of posters.
96
22/05/2020 14:19:41 5 7
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It would have made more sense for each country to coordinate printing money. With every country doing it, there wouldn't be currency risks. And like they say, we're all in it together. What better way to ensure fair spread of the costs. Why lumber the world with massive debt? That just creates huge risks and hardship.
27
22/05/2020 14:11:47 17 31
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Any Government would be facing this situation given the C19 virus. I'd suggest that if Labour were in charge then we'd be facing a tota lmeltdown and complete lack of business confidence for five years.
97
22/05/2020 14:20:11 24 11
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27 Any Government would be facing this situation given C19 virus. I'd suggest that if Labour were in charge then we'd be facing a tota lmeltdown and complete lack of business confidence for five years + If we want to go hypothetic... if the right Miliband had won Watson not Corbyn if Torys understood the difference between advisory and binding I could go on and I dont even vote labour.
Stop being Negative people be positive, we need to cut regulations fast for Jobs we need people to enter work fast stop being covid morons Removed
69. Posted bydeanon 2 minutes ago Stop being Negative people be positive, we need to cut regulations fast for Jobs we need people to enter work fast stop being covid morons -- Yeah everyone, listen to this conspiracy moron and go out and get yourself ill. Be positive as you die to make shareholders happy. Removed
41
22/05/2020 14:13:18 16 10
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In the Tories accuse Labour of being a "Tax and spend" Party !!!!! Welcome to the new "Borrow and tax" party.
99
22/05/2020 14:21:02 7 4
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41. the_hot_chef In the Tories accuse Labour of being a "Tax and spend" Party !!!!! Welcome to the new "Borrow and tax" party. = Says someone who is benefitting from it.
100
22/05/2020 14:21:02 10 11
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There are many struggling businesses and even more will go under with a No Deal Brexit.