Originally Posted by
Marly Lite
Lyneham lad,
Unfortunately the Old Fat One is entirely correct. I can't be arsed to read the OBR report but my own sums for some research i was doing on govt budget 2016 recently were:
welfare:240 bn
personal social:30 bn
housing:7bn
total welfare = 277bn
NHS: 145bn
education:102bn
defence 46bn
law&order: 34bn
enviro:27bn
transp:29
ind&ag:24bn
EU:13bn
other stuff:39bn
DEBT INTEREST:39bn
GRAND TOTAL: 772bn
tax collected: 726bn
debt added to the pile (deficit): 56bn.
Ok no problem!!
uk national debt:........
wait for it........
1780bn.
Anyone still think it's not a ponzi scheme??
UK interest rate 0.75%. help to buy etc.... house prices go through the roof. Homeowners actually make no money unless downsizing or moving abroad.
But we'll tax you on your 'profit/wealth' that DOES NOT EXIST to pay that 277 bn promise to people who need your help. Oh and pay the debt interest on loans we have accrued to get elected on our sham promises. And fund th proportion of the NHS which is actually a large, under the radar, care home.
Do you think interest rates will ever go back to 5%? NO - we'll go bankrupt.
Interest rates at 0.75 make you a loss on fixed-income savings after inflation. Or, in other words its gonna be difficult to fund a responsible retirement. But its ok, the government will pay you a pension. We'll just borrow the money for it. And tax homeowners on money they don't have.
Rant over
It was quite cathartic though!!
Its worth pointing out that 95% of the welfare bill is the state pension. Currently sat well above historic levels of expenditure compared to GDP. Why exactly are we paying State Old Age Pensioners more and more in terms of GDP per year? Its bleeding the country dry.