michael howard

[Terry]

Tealeaf I can understand your concerns, but isn't that always typical of any British government of the day. Here's a story you may not be aware of. During WW2, the government took out of every workers pay something they called "War Bonds" this was to help pay for the war effort. After the war the Government put off and put off paying it back(which is what they had promised to do) My father, who worked on building aircraft) didn't get his untill well after he died in the seventies. I.E my mother received them in 1980 or thereabouts. She received exactly the amount that he had paid. 41 pounds sterling. No interest or anything. The buying power of the sterling during the war was far greater than the buying power of the sterling in 1980. That's how I perceive the British establishment and always will. Good luck to you who still live there. Sorry I know it's not relevant for today or this thread, but it's just one example of many that springs to mind of the old days so I do sort of know where you are coming from

[vorlon24]

Originally Posted by cashman

come on mate rover closed down cos people had stopped buying the crappy outdated cars they produced

It had nothing to do with the cars - Honda are still going strong.

No, it had something to do with them selling out to BMW.

Honda pulled out sharpish, as they didn't want the germans getting hold of their technology.

BMW then proceeded to strip anything of value from Rover (ie Mini), then left them high and dry to rot.

[cashman]

honda certainly improved the mechanical side a bit,but the cars still didn't sell onmasse,lets face it the cars were like me old and knackered lol

[Acrylic-bob]

Originally Posted by Tealeaf

So we're paying for this lot now by borrowing. What is going to happen when a recession starts and tax revenue falls...More borrowing? You can rule that one out straightaway, because we're already on our limit. Public sector lay-offs? Unlikely - that won't happen (not amongst bureaucrats, anyway). The only answer is a hitch in the tax rates. What happens then? Less investment and less growth and we again end up the crap hole of Europe as we were back in 1979.

Which might have an interesting corollary effect. I wonder how many immigrants will be clamouring to get into the country when there is nothing left to scrounge. But then again, perhaps this is Tony's BIG IDEA to solve the immigration issue.

The sensible among you will now do whatever you can to pay off your outstanding credit as quickly as possible and then get as much money into Tax efficient savings as you can because you are going to need it over then next ten years or so.

[vorlon24]

Tax efficient savings - lots of personal pensions then?