US or bust

The British government has completely lost the plot, and no one is angrier than Peter.  I offered him the Bloody Brilliant! forum to get it off his chest, so here goes:

 

Break Out the Visa!

The UK is going into economic free-fall and I hereby give notice that I am applying for my Green Card.  The US economy may not be much better, but at least you have Obama.

The last panic ridden actions of the Labour Government to increase taxation, stimulate retail spending and borrow to levels that are in excess of what we needed in World War 2, has pushed me to the edge.

I am so furious that I called the BBC 5 Radio show.  Here's what I said: -

I am fine with increasing taxation, but disposable income drives our economy. So increased income tax does not drive confidence and stops people spending.  People have been hammered by poor performing pensions but we have no stimulus to save. Waive capital gains tax on second homes; make second homes a part of pension schemes (which are tax free), and allow the housing market to part of our savings plans. Use this opportunity to drive security and long-term savings and allow people the wealth to spend across the whole economy.

The simple facts are that we allowed our mortgage system and borrowing to become a de-regulated and poorly underwritten free-for-all. People expected to own their own home as a right when home ownership is a commitment. Add to that the backing off of the taxation systems through strange and unruly financial instruments; we were headed for a road crash. And even worse, the UK has raided the pension systems to the extent that retirement age is now well above 65, as the funds people have built up in State schemes are too low to live on.

When I borrow money on my credit card, I have to pay it back. But my Government is leading the British people into debt of such scale and depth that I just cannot see how we can ever recover - certainly when we have invested cash into baling out banks who then do nothing more than shore up their balance sheets - with public money - our taxes!

God bless America - at least you now have elected some sound leadership and also have the mind-set to not repeat the problems of the past.

Don't you?

Comments

[Lord Farr-Kernukkel]

Oi, Norm - so wot's this 'ere green card then? Is it one of 'em wacko enviromental loonies lobbing art noo credit cards, eh?

'King good luck with that, Guv!