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With out doubt one of the biggest issues is national debt. It is currently hitting £3 Trillion. (A Trillion is a thousand billion.) £3,000,000,000,000. For each citizen the debt is £43,000 and growing.
The debt really kicked on after the £500 billion bankers bail out of 2009 when it was less than £1 Trillion.
The second spike was the Covid related borrowing for furlough and infrastructure etc 2020 -2021.
I do not know what Burnham's priorities are but if it is not reducing the deficit and then debt then he is just fiddling on the roof while the house burns beneath him.
When Starmer tried to trim the budget his Chancellor was seen sobbing n the House of Commons after folding to MP pressure. He has no election for 3 years so should take unpopular decisions and cut the deficit first and then the debt.
Reform and Plaid in the Senedd is concentrating on Gender definition. If Wales went independent our share of the debt would be £150 billion. (5% of the total debt)
UK interest payment of this debt annually is £110 billion. (including my premium bond winnings)
Has Burnham focussed yet on the National debt? on 13:12 - Oct 1 by Gwyn737
Thanks, America.
Nothing to do with them.
Successive Goverments who have failed to get to grip.with spending and allowed national debt interest payments to spiral to over £100bn a year have got us here.
We are now considered untrustworthy borrowers and so the cost of borrowing has rocketed.
Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back.
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Has Burnham focussed yet on the National debt? on 14:59 - Oct 1 with 759 views
Has Burnham focussed yet on the National debt? on 14:56 - Oct 1 by Dr_Winston
Nothing to do with them.
Successive Goverments who have failed to get to grip.with spending and allowed national debt interest payments to spiral to over £100bn a year have got us here.
We are now considered untrustworthy borrowers and so the cost of borrowing has rocketed.
You don’t think what has been happening with treasury yields has had an effect?
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Has Burnham focussed yet on the National debt? on 16:28 - Oct 1 with 715 views
Has Burnham focussed yet on the National debt? on 13:12 - Oct 1 by Gwyn737
Thanks, America.
We have are own domestic issues alongside the Global ones, the bond markets don't like the way our economy is structured, we have blown our fuel security by reducing the extraction in the North Sea and closing refineries for example and then there is the escalation of benefits and cost of debt repayment etc etc.
Putin is as much to blame for the fuel issue as Trump.
It's no surprise that so many are spooked and why so many people are worried about the threat of Labour taxation that will be nothing more than theft.
There is no way that I am looking forward to the next budget, the imbecilities in charge look more like lefty-nutcases by each and every passing day.
The country is three trillion in debt and what does the prime minister announce?
Yep he's going to renationalise, and that would cost the country even more billions. With timing like that and economic lunacy like that, is it any wonder that there is zero confidence in a government that would be better off selling Socialist Worker papers instead of responsibly running a country!
Argus!
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Has Burnham focussed yet on the National debt? on 17:03 - Oct 1 with 689 views
Has Burnham focussed yet on the National debt? on 14:36 - Oct 1 by Boundy
There wasn't in the 80'as either , certainly not the norm amongst the 22 year olds , the steady decline in home ownership has been since the early 90's so why the angst now .
Because it’s so much harder know and getting worse all the time.
Average age to buy a first property in 1980-84 was 27. It’s now 34.
In 1984 the average house was 4 times the average wage. It’s now double that.
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Has Burnham focussed yet on the National debt? on 18:42 - Oct 1 with 651 views
Has Burnham focussed yet on the National debt? on 14:36 - Oct 1 by Boundy
There wasn't in the 80'as either , certainly not the norm amongst the 22 year olds , the steady decline in home ownership has been since the early 90's so why the angst now .
Because it’s so much harder know and getting worse all the time.
Average age to buy a first property in 1980-84 was 27. It’s now 34.
In 1984 the average house was 4 times the average wage. It’s now double that.
Has Burnham focussed yet on the National debt? on 18:39 - Oct 1 by Gwyn737
Because it’s so much harder know and getting worse all the time.
Average age to buy a first property in 1980-84 was 27. It’s now 34.
In 1984 the average house was 4 times the average wage. It’s now double that.
Richer people buying up properties and letting them out has ruined it for the youngsters trying to get on the ladder. One property should be enough for anyone. Greed.
Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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Has Burnham focussed yet on the National debt? on 19:04 - Oct 1 with 638 views
Has Burnham focussed yet on the National debt? on 19:04 - Oct 1 by Gwyn737
Yet home ownership rates for under 30s in 1984 were about 50%
It’s less than half of that now.
Do you genuinely think, on average, it was harder for a young person to buy a first house in 1984 than now?
I appreciate some point out that there are Swansea properties that can be bought for £100k but that doesn’t add to the overall argument.
My point was to illustrate the non binary nature of the argument.
As an example, my 28 year old son and his girlfriend have bought a house. They lived in one room of a shared house in Bristol for 5 years and banked one salary. They had a £40,000 deposit and all the fees covered after 5 years.
They moved into Wiltshire where houses are a bit cheaper.
My son is a 9 out of 10 Dyslexic but he gets stuck in, he worked in hotels and in call centres on zero hours contracts in Wales. He got a permanent job in Bristol answering the phone, he got promoted to first line help and then second line resolution. From there he moved into a junior cyber security role and two companies later works from home as a senior cyber security consultant managing a team of six consultants. His brain is suited to his job, he thinks very differently to most of us. He can memorise the computer networks of large businesses just by walking around them. He earns £80,000 a year plus bonuses.
When he was written off by his school, ( you will never pass you A levels was what the teachers told him ). We sat down and agreed that he would be the person to decide what he was capable of, the rest he did himself.
What really pisses me off is people writing off young people and saying there is no hope. If you tell a young and impressionable person they have no chance many will believe you.
My neighbours son, could not get a permanent job here in Wales. Both my neighbour and I have old school friends in Perth, Australia. He saved up his money from working in kitchens to buy a ticket to Perth and stayed with my friend on arrival. He got a job cleaning campervans within a week. Two years later he's getting sponsorship from the company and now services campervans and has his own flat about 200 yards from the beach.
It's not easy for young people, in the mid 80s my dad told me don't worry about the 20 percent out of work and worry about the 80 percent who are in work instead.
The problem now is entry level jobs have dried up because we have chosen as a nation to raise employment taxes and legislation just when alternative technologies such as AI are emerging, it's suicidal.
Entry level vacancies are down 50 percent in a year, that shitty zero hours kitchen or call centre jobs that got my son started do not exist.
60 percent of private sector jobs, the ones that pay for the public sector, are in small businesses. Make it easy for small businesses to thrive and employ people then young people may get an opportunity to start their working life. Nobody, yes Nobody in the Cabinet has run a business.
The average small business makes £15K profit, who on earth thought taxing them was the answer to our problems, we are governed by idiots.
Has Burnham focussed yet on the National debt? on 19:52 - Oct 1 by JACKMANANDBOY
My point was to illustrate the non binary nature of the argument.
As an example, my 28 year old son and his girlfriend have bought a house. They lived in one room of a shared house in Bristol for 5 years and banked one salary. They had a £40,000 deposit and all the fees covered after 5 years.
They moved into Wiltshire where houses are a bit cheaper.
My son is a 9 out of 10 Dyslexic but he gets stuck in, he worked in hotels and in call centres on zero hours contracts in Wales. He got a permanent job in Bristol answering the phone, he got promoted to first line help and then second line resolution. From there he moved into a junior cyber security role and two companies later works from home as a senior cyber security consultant managing a team of six consultants. His brain is suited to his job, he thinks very differently to most of us. He can memorise the computer networks of large businesses just by walking around them. He earns £80,000 a year plus bonuses.
When he was written off by his school, ( you will never pass you A levels was what the teachers told him ). We sat down and agreed that he would be the person to decide what he was capable of, the rest he did himself.
What really pisses me off is people writing off young people and saying there is no hope. If you tell a young and impressionable person they have no chance many will believe you.
My neighbours son, could not get a permanent job here in Wales. Both my neighbour and I have old school friends in Perth, Australia. He saved up his money from working in kitchens to buy a ticket to Perth and stayed with my friend on arrival. He got a job cleaning campervans within a week. Two years later he's getting sponsorship from the company and now services campervans and has his own flat about 200 yards from the beach.
It's not easy for young people, in the mid 80s my dad told me don't worry about the 20 percent out of work and worry about the 80 percent who are in work instead.
The problem now is entry level jobs have dried up because we have chosen as a nation to raise employment taxes and legislation just when alternative technologies such as AI are emerging, it's suicidal.
Entry level vacancies are down 50 percent in a year, that shitty zero hours kitchen or call centre jobs that got my son started do not exist.
60 percent of private sector jobs, the ones that pay for the public sector, are in small businesses. Make it easy for small businesses to thrive and employ people then young people may get an opportunity to start their working life. Nobody, yes Nobody in the Cabinet has run a business.
The average small business makes £15K profit, who on earth thought taxing them was the answer to our problems, we are governed by idiots.
[Post edited 1 Oct 20:02]
There’s no bigger champion of young people than me.
I accept there are many factors but giving individual examples doesn’t prove anything either.
I think it’s quite clear that that on average, it’s harder for a first time buyer today than it was 40 years ago.
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Has Burnham focussed yet on the National debt? on 20:59 - Oct 1 with 582 views
Has Burnham focussed yet on the National debt? on 19:52 - Oct 1 by JACKMANANDBOY
My point was to illustrate the non binary nature of the argument.
As an example, my 28 year old son and his girlfriend have bought a house. They lived in one room of a shared house in Bristol for 5 years and banked one salary. They had a £40,000 deposit and all the fees covered after 5 years.
They moved into Wiltshire where houses are a bit cheaper.
My son is a 9 out of 10 Dyslexic but he gets stuck in, he worked in hotels and in call centres on zero hours contracts in Wales. He got a permanent job in Bristol answering the phone, he got promoted to first line help and then second line resolution. From there he moved into a junior cyber security role and two companies later works from home as a senior cyber security consultant managing a team of six consultants. His brain is suited to his job, he thinks very differently to most of us. He can memorise the computer networks of large businesses just by walking around them. He earns £80,000 a year plus bonuses.
When he was written off by his school, ( you will never pass you A levels was what the teachers told him ). We sat down and agreed that he would be the person to decide what he was capable of, the rest he did himself.
What really pisses me off is people writing off young people and saying there is no hope. If you tell a young and impressionable person they have no chance many will believe you.
My neighbours son, could not get a permanent job here in Wales. Both my neighbour and I have old school friends in Perth, Australia. He saved up his money from working in kitchens to buy a ticket to Perth and stayed with my friend on arrival. He got a job cleaning campervans within a week. Two years later he's getting sponsorship from the company and now services campervans and has his own flat about 200 yards from the beach.
It's not easy for young people, in the mid 80s my dad told me don't worry about the 20 percent out of work and worry about the 80 percent who are in work instead.
The problem now is entry level jobs have dried up because we have chosen as a nation to raise employment taxes and legislation just when alternative technologies such as AI are emerging, it's suicidal.
Entry level vacancies are down 50 percent in a year, that shitty zero hours kitchen or call centre jobs that got my son started do not exist.
60 percent of private sector jobs, the ones that pay for the public sector, are in small businesses. Make it easy for small businesses to thrive and employ people then young people may get an opportunity to start their working life. Nobody, yes Nobody in the Cabinet has run a business.
The average small business makes £15K profit, who on earth thought taxing them was the answer to our problems, we are governed by idiots.
[Post edited 1 Oct 20:02]
Sobering read that!
The trouble with taxing private sector types too much to when it gets to the point that it feels more like harassment, victimisation and spite is that it ends up where people just give up, retire earlier, lose drive and ambition, take their foot of the gas pedal, or close the business completely.
Like I mentioned previously I have no intention of upping my house value, because it is highly plausible that this current lot in charge will at some stage go after gains from it even more.
Somebody is gonna have to suffer to pay for renationalisation, waste, illegal immigrants and paying interest on three trillion pound national debt etc.
So goodbye to a new fitted kitchen, new bathroom, new windows, interior improvements like hacking off old motar and lath walls and replastering.
Is it any wonder that 9 out of 10 farmers are devaluing their holdings! The trouble with magic-money tree lefties is the fact .......NOT only do they NOT know how the real works, but they do NOT know how many involved in the real world actually think! https://www.fwi.co.uk/business
Argus!
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Has Burnham focussed yet on the National debt? on 21:16 - Oct 1 with 564 views
Has Burnham focussed yet on the National debt? on 18:56 - Oct 1 by builthjack
Richer people buying up properties and letting them out has ruined it for the youngsters trying to get on the ladder. One property should be enough for anyone. Greed.
Pitiful With our state pension so paltry , those with the sense to provide security later in life often invest in property as it doesn’t lose value These greedy feckets are those who don’t rely on the state for a living The greedy ones take
Has Burnham focussed yet on the National debt? on 20:59 - Oct 1 by Wingstandwood
Sobering read that!
The trouble with taxing private sector types too much to when it gets to the point that it feels more like harassment, victimisation and spite is that it ends up where people just give up, retire earlier, lose drive and ambition, take their foot of the gas pedal, or close the business completely.
Like I mentioned previously I have no intention of upping my house value, because it is highly plausible that this current lot in charge will at some stage go after gains from it even more.
Somebody is gonna have to suffer to pay for renationalisation, waste, illegal immigrants and paying interest on three trillion pound national debt etc.
So goodbye to a new fitted kitchen, new bathroom, new windows, interior improvements like hacking off old motar and lath walls and replastering.
Is it any wonder that 9 out of 10 farmers are devaluing their holdings! The trouble with magic-money tree lefties is the fact .......NOT only do they NOT know how the real works, but they do NOT know how many involved in the real world actually think! https://www.fwi.co.uk/business
All your examples are how economic policy can shut down activity and reduce the tax take in the medium term.
Has Burnham focussed yet on the National debt? on 21:16 - Oct 1 by JACKMANANDBOY
The point of the post was to outline the systemic issues by using examples of the problems we are creating not to provide anecdotes.
To make it simple for 30 years we have experienced the following.
Not building enough houses. To many people Government policies favouring long term low paid work over careers.
And now
Attacking the businesses that create the first opportunities for young people when the technology landscape is changing.
It's not easy for young people and the last two years has made it much worse, 50 percent of starter job vacancies have disappeared!
On a societal basis we have to start creating opportunities and stop telling young people it's hopeless.
I don’t disagree.
I’m sure that one of the things that adds to young people’s anxiety is having to live at home while knowing the chances of owning a property could be slim.
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Has Burnham focussed yet on the National debt? on 08:34 - Oct 2 with 461 views
I wonder how the reducing home ownership will affect the benift system in years to come. Less personal assets for the government to claw back, the higher the social care bill will be. Is the country waking up the the belief that working hard and saving doesn't pay. Its up to the government to break this mindset and make hard work and saving pay dividends.
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Has Burnham focussed yet on the National debt? on 18:45 - Oct 2 with 391 views
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