Thats historic debt, the UK's by the way is rocketing and within 5 years we will have overtaken most of them as we are borrowing £100b+ per year, which adds 10% annually to our current total £1t national debt
This years figure of 80% will become 90% next year, 100% the year after and so on, the amount of money we are borrowing is staggering
Our budget deficit is 10% Greece is 9% in fact Italy which is portrayed as a financial basket case has a far lower budget deficit than the UK
Message posted by kathy3 on 18 November 2011 at 2:44pm - IP Logged
Again, what started off as a thread about a programme on Greece has descended into knocking the UK.
If we are to "debate" the UK, and knock it, why not start a thread about it?
Greece has big problems, a lot of it their own making so why try and say the UK is just the same? This is a thread about a Greece problem I thought I agree with you Wynne
Message posted by Dave and Kerry on 18 November 2011 at 2:59pm - IP Logged
They could just have easily done a programme about the milions of British state workers who retire in their 50's on inflation proof pensions most can only dream of...
So while many public sector workers accepted low wages knowing they had a good pension to fall back on, the private sector now whinge and whine and forget all about the bonuses and other perks and high wages they had in the past! Very convenient for certain people out there!
While it is possible the same happened in Greece there are still many people who should be paying their fair share of tax there and in the UK who are not doing so, and the richer you are the more chance you have of avoiding paying it.
Message posted by openside on 18 November 2011 at 3:04pm - IP Logged
Sorry openside,your analysis is wrong and your figures flawed. Even with the austerity measures the aim is to get the Greek figure down to 120 percent by 2020. It just doesn't work the way you describe it.
To set the facts straight Greece's budget deficit for 2010 was not 9 percent but 10.5 (it had targeted 8 percent but overshot. This year Greece has targeted 9 percent. It remains to be seen what the final figure will be though it will probably fall becaus e large amounts of debt will have been written off. The other important factors are the ability to 'service' your debt and growth. The problem for Greece (and Italy is that they have not been able to borrow at 'German' rates). In terms of growth the latest projections from Greece are that the economy will contract by 5.5 percent this year and 2.8 percent next year with unemployment rising to 17 percent (around twice the current UK rate). The UK situation is bad, but you cannot really compare it with Greece
Message posted by Robbos on 21 December 2011 at 12:07pm - IP Logged
Just watched it. Seems to be factual. It's all a matter of degrees. The orthopaedic surgeon pays his wife £70,000 a year to run his "business"-no other staff-Why? Tax avoidance but legal. I never pay tradesmen by cheque and never get a contract unless a huge job like an extension. Many hairdressers cut their "friends" hair for cash. Why?--Tax avoidance.
Only yesterday it is revealed that HMRC staff are going "soft" on big businesses, negotiating lower than proper tax revenues??? Dodgy or what??? All businesses maximise their expenses to avoid tax even here.
As I said, the morality is the same but the extent and the institutionalisation of corruption is different.
Message posted by Robbos on 21 December 2011 at 12:14pm - IP Logged
Openside You have to compare like with like (ceteris paribus). A high proportion of Public employees are professionals like teachers, social workers, doctors, nurses, town planners, engineers and even lawyers so put the average salary up when compared to the top-heavy private sector.
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