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New government - the agreements


Thedelldays
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No to euro

 

Referendum on any further transfer of power to Europe

 

Libdems drop opposition to trident

 

5 year parliament

 

6bn reduction this year

 

Anything else?

 

 

 

A fudge on the Lib Dems £10000 tax threshold

 

No change in Heritance Tax Threshold which only affects 5% of the population anyway. - It would not have happened anyway according to Kenneth Clark

 

 

Libdems have not entirely dropped oppostion to Trident

 

 

Boy George in Number 11

 

 

No entry into the Euro within the life of the Parliament

Edited by John B
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4 Year Parliament

 

A fudge on the Lib Dems £10000 tax threshold

 

No change in Heritance Tax Threshold which only affects 5% of the population anyway. - It would not have happened anyway according to Kenneth Clark

 

 

Libdems have not entirely dropped oppostion to Trident

 

 

Boy George in Number 11

 

 

No entry into the Euro within the life of the Parliament

http://news.bbc.co.uk/1/mobile/uk_politics/election_2010/8676607.stm

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That's good news and it's also good news that the Tories have scrapped raising the inheritance tax threshold. I'm sure these measures won't be popular with many Tories, but it's the right thing to do.

 

On a separate note the £ has strengthened against the dollar and the Euro to $1.49 and E1.18 respectively which shows that currency exchanges are happy. There have been falls on the stock market, but this has been a global trend and is related to the state of the Eurozone.

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That's good news and it's also good news that the Tories have scrapped raising the inheritance tax threshold. I'm sure these measures won't be popular with many Tories, but it's the right thing to do.

 

On a separate note the £ has strengthened against the dollar and the Euro to $1.49 and E1.18 respectively which shows that currency exchanges are happy. There have been falls on the stock market, but this has been a global trend and is related to the state of the Eurozone.

 

So previously, the falls on the stock market were because of the Labour Party, and now it's because of a global trend.

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On a separate note the £ has strengthened against the dollar and the Euro to $1.49 and E1.18 respectively which shows that currency exchanges are happy.

 

Not any more the £ fell against the $ and the €.

 

Funny thing is, we're all worried about the city and the traders and what they think, but they caused the financial meltdown in the first place. Six months ago the bankers and traders were the biggest villains since Atilla the Hun.

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Not any more the £ fell against the $ and the €.

 

Funny thing is, we're all worried about the city and the traders and what they think, but they caused the financial meltdown in the first place. Six months ago the bankers and traders were the biggest villains since Atilla the Hun.

 

I listened to Prof. Danny Blanchflower (no - not the footballer :D) on the BBC earlier. He was a member of the committee that advises the Bank of England.

 

He reckons we'll now be in for a double-dip recession due to the economic policies of the new government.

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I listened to Prof. Danny Blanchflower (no - not the footballer :D) on the BBC earlier. He was a member of the committee that advises the Bank of England.

 

He reckons we'll now be in for a double-dip recession due to the economic policies of the new government.

 

I saw the interview as well. Didn't realise his position at Dartmouth :eek:

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I listened to Prof. Danny Blanchflower (no - not the footballer :D) on the BBC earlier. He was a member of the committee that advises the Bank of England.

 

He reckons we'll now be in for a double-dip recession due to the economic policies of the new government.

 

Whereas the head of the very Bank that he advises said today that the new government had "strong" policies to deal with the situation.

 

I like this 'pick a quote' game. Your go :-)

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I'm actually warming to the idea of the Liberals in govt. Having the likes of Vince Cable on our side and not against us is certainly an advantage.

 

Indeed.

 

The country should be rejoicing today - holding street parties - it should be a national holiday! - because we've finally gotten rid of that complete t0sser Mandelson. I won't have to look at his ugly mug ever again - the slimey, poncy little tw4t.

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Whereas the head of the very Bank that he advises said today that the new government had "strong" policies to deal with the situation.

 

I like this 'pick a quote' game. Your go :-)

 

From your man:

 

In its latest Inflation Report, it said economic conditions remained uncertain and the recovery could be hit by "substantial fiscal tightening".

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Aythangyooo x

But, of course, if the con-lib budget measures are followed by another double-dip we'll never know whether another approach would have been better or worse. (apart from the 'theoreticals' of different experts of course). Not that that will stop the critics looking at it in absolute rather than relative terms of course.

 

You may have won 'pick a quote' for today but I hereby claim first prize for the most "of course"s in one post

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I'm still reading this morning that the bank of England are actively encouraging the new government to start cuts straight away. Am I missing something somewhere?

 

Basically Mervyn King has said its a balancing act. Cut too much and you will deflate the economy - setting back economic growth and therefore further reducing employment and the total tax take. It you dont cut the deficit enough rthe city will take fright, cut the UKs credit rating, the price the government has to pay to borrow goes up and we then have an even worse deficit because the amount required to pay the interest is even higher. Merv thinks £6bn of cuts this year is about right.

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Guest Dark Sotonic Mills
Trousers - you are only allowed back in the game if you learn how to do links properly.

 

Don't go getting your thong in a pickle, I've fixed it for Trousers and for your sensibilities.

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£6bn is not a lot in the context of annual government spending anyway.

 

As to the point someone raised about the markets - when you are beholden to them to the tune of hundreds of billions of pounds you have little choice but to take notice.

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What happens in Thirsk ? They havn't had their vote yet, due to a candidate dying. As it's a comparatively safe Tory seat, will the LDs contest it ?

 

Yes, because it is too late for candidate withdrawals. It will be friendly opposition apparently.

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Basically Mervyn King has said its a balancing act. Cut too much and you will deflate the economy - setting back economic growth and therefore further reducing employment and the total tax take. It you dont cut the deficit enough rthe city will take fright, cut the UKs credit rating, the price the government has to pay to borrow goes up and we then have an even worse deficit because the amount required to pay the interest is even higher. Merv thinks £6bn of cuts this year is about right.

 

So, the Bank of England are basically agreeing with the Tory approach for this year?

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