Will the FTSE100 reach this years' low (6959.48)?
UK Economy
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wearthefoxhat
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ShaunWhite
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She's doing her best to ensure that happens.
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Y, not great.
Though my dollar investments are doing well.
Personally I would prefer the government to pay down debt and reign in spending a bit. If the pound continues to weaken then we just import inflation.
The muzzling of the OBR in terms of forecasting the effect of this budget is a disturbing development.
"The OBR was set up in 2010. According to George Osborne, the Conservative chancellor who established it, the OBR was introduced to “remove [from politicians] the temptation to fiddle the figures”. Before the OBR came along, the Treasury produced its own economic forecasts under supervision of the chancellor. But these were often too optimistic about UK growth and the impact of new policies. The result was lower tax receipts than expected, higher borrowing and, ultimately, damaged fiscal credibility. "
"The OBR was set up in 2010. According to George Osborne, the Conservative chancellor who established it, the OBR was introduced to “remove [from politicians] the temptation to fiddle the figures”. Before the OBR came along, the Treasury produced its own economic forecasts under supervision of the chancellor. But these were often too optimistic about UK growth and the impact of new policies. The result was lower tax receipts than expected, higher borrowing and, ultimately, damaged fiscal credibility. "
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thepressure
- Posts: 133
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why do people chose the FTSE, its like the most boring and poor performing index, how do you ever chose that over the S&P 500 in the long term?
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ShaunWhite
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That's been the idiology for over a decade, I'm not sure there's much flesh left on the bone.
There's just so many sources of income governments these days are afraid to touch, can you believe UK Plc used to have all of its road haulage nationalised. We're broke because the govt relies on the taxed earnings of businesses and individuals rather than generating any money themselves.
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ShaunWhite
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As an investment or as an indicator?thepressure wrote: ↑Fri Sep 23, 2022 2:18 pmwhy do people chose the FTSE, its like the most boring and poor performing index, how do you ever chose that over the S&P 500 in the long term?
I think western governments have painted themselves into a corner. None have wanted to raise taxes that much as it would kill investment so they have borrowed a lot through the unexpected bumps, but that's left them little wiggle room.ShaunWhite wrote: ↑Fri Sep 23, 2022 2:18 pmThat's been the idiology for over a decade, I'm not sure there's much flesh left on the bone.
There's just so many sources of income governments these days are afraid to touch, can you believe UK Plc used to have all of its road haulage nationalised. We're broke because the govt relies on the taxed earnings of businesses and individuals rather than generating any money themselves.
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ShaunWhite
- Posts: 9530
- Joined: Sat Sep 03, 2016 3:42 am
None have wanted to raise taxes that much as it would kill votes
I'm going back to not following the news now.....all this stress about things I can't do anything about isn't a good use of time.
IMO this budget is a PR disaster. Loads of low income people will be fuming. 5p cut for people on 150,000+ is not going to stimulate growth and anyway there's only 629,000 of them.
Truss is gambling our future on the middle income vote being hoodwinked into believing this is a prudent budget.
The FTSE appears to disagree 6997.41.
Truss is gambling our future on the middle income vote being hoodwinked into believing this is a prudent budget.
The FTSE appears to disagree 6997.41.
