Excluding darling Alistair who is ten gulps puppet then bogey isn't even the best of the last two Chancellors.
The guy who wrote this article is a far more accomplished Chancellor than smash and grab Gordon:
Brown has been remarkably successful in creating a myth about his record. He was proved correct in his forecasts for growth on his 2004 budget - as I said at the time, in the budget debate, that he might. By quoting this, he evades the real problem that is troubling the IMF and most other serious economists. The important point is that he has a lousy record with his forecasts of government borrowing. In his last pre-election budget in 2001, he forecast that he would borrow only 12bn over the next six years. In the event, he will be out by 100bn - borrowing 112bn, almost 10 times his forecast, even though he increased national insurance by 9bn a year after the 2001 election. The question the chancellor should answer is this: even if forecasts for growth of the economy were right, why were your borrowing forecasts so wrong? It is government borrowing that drives Labour's need for more tax. That is why Labour will raise taxes in a third term. That is the point that I and many Conservatives have been making for the past three years or so, and we are supported by the latest comments of the IMF.
I have great faith in people's ability to see through hype. The rewriting of facts which characterises this government is not limited to intelligence dossiers. A central part of New Labour's mission is to make us believe that the strong performance of the British economy dates from the moment Labour was elected. But as Derek Scott, Blair's economic adviser, has written, Brown's economic inheritance in 1997 was better than that of any previous chancellor in living memory.
Brown does not compare his record with the government that he succeeded. His talk of high interest rates, high unemployment and high inflation all relate to several years before he took over. "No return to boom and bust" was a phrase I coined when I was chancellor and we had achieved four years of growth with low inflation before Gordon took office.
Brown has traded heavily on the credit flowing from making the Bank of England independent. But I had already reformed monetary policy; and the stable monetary framework that he inherited, with the inflation target at its heart, was the decisive change. Inflation had been defeated by the Major government. The day Brown became chancellor, inflation was 2.6%. Today it is 3.2% and rising. Low inflation keeps interest rates low. They will only remain low under a government of any party as long as it succeeds in getting government borrowing back under control.
People tend to judge chancellors differently when they are able to look back on their legacy. Brown's time as chancellor will be judged by his mismanagement of the public finances and his failure to achieve value for money for his vast increases in public spending. He has squandered the incredibly strong fiscal position of the late 1990s. Government borrowing of nearly 3% of GDP after such a long period of growth, as happened last year, indicates a serious structural deficit. At this stage in the economic cycle, the public finances should be running a surplus, not a deficit.
SnookerExcluding darling Alistair who is ten gulps puppet then bogey isn't even the best of the last two Chancellors.The guy who wrote this article is a far more accomplished Chancellor than smash and grab Gordon:Brown has been remarkably successful
No mention of steady growth and low inflation for ten golden years either.
The bloke who wrote EOs copy and paste openly boasted when he was given the job of Chancellor than he knew nothing of economics. Thats probably why we kicked him and his useless party into touch in 1997.
No mention of steady growth and low inflation for ten golden years either.The bloke who wrote EOs copy and paste openly boasted when he was given the job of Chancellor than he knew nothing of economics.Thats probably why we kicked him and his useless
Do you ACTUALLY believe all that spin? They take out things of the equation at will. When fuel, heating and mortgages rocket up, they drop out of the equation, mysteriously....... As for jobs.....Creating a NEW job on the 'New Deal' for 6 weeks training hardly counts. Dare I mention Immigration Figures coc.k up.............??????
Do you ACTUALLY believe all that spin?They take out things of the equation at will.When fuel, heating and mortgages rocket up, they drop out of the equation, mysteriously.......As for jobs.....Creating a NEW job on the 'New Deal' for 6 weeks training
I'm was always impressed with Bliar defending Bottler as having 'presided over 60 quarters of consecutive economic growth, the longest period in recent history etc'. Anyone with even an acquaintance with basic maths will twig that 20 of the 60 record consecutive quarters occured under the last Tory government.
It is taking the michael to hijack 5 years of Tory economic success and to regularly try and blame any economic bad news on the 'mess' inherited in 1997. I agree that in a few years time, Bottler's reputation as Chancellor will be heavily tarnished. The only serious question is will he be an even worse PM than he was Chancellor?
I'm was always impressed with Bliar defending Bottler as having 'presided over 60 quarters of consecutive economic growth, the longest period in recent history etc'. Anyone with even an acquaintance with basic maths will twig that 20 of the 60 recor
I really do think there is some revision of history here.
Whatever he, or anyone else says you cannot deny the facts of economic competence shown by Brown when chancellor. To keep low inflation, high employment and low interest rates for a couple of years might have been lucky. But to do so for a decade sounds like good management, the best I can remember in the last 4 decades. Tory chancellors, save one, were all useless. Lamont's incompetence was only matched by his utterly misplaced arrogance. I got sick of hearing him sticking up for the Fascist dictator General Pinochet when he was arrested here for human rights offences. Some of the other tory chancellors were just as useless. Nigel Lawson, the so called "brilliant chancellor" of Maggie, made such a complete** up that there was a massive rise in inflation followed by a recession and major housing market slump with zillions of reposessions and bankrupts. The only tory who showed any competence at all was Kenneth Clark, and he's not really a new tory, his own party hates him because he tends to take a more moderate view on things like the welfare state and foreign policy (the only tory who opposed the invasion of iraq and one of the few who appears not to hate our European partners.)
I really do think there is some revision of history here.Whatever he, or anyone else says you cannot deny the facts of economic competence shown by Brown when chancellor. To keep low inflation, high employment and low interest rates for a couple of y
Okay guys if Brown was such a brilliant Chancellor what did he do that wasn't already being done by Clarke.
Don't be shy. Tell us about this slayer of dragons.
Okay guys if Brown was such a brilliant Chancellor what did he do that wasn't already being done by Clarke.Don't be shy. Tell us about this slayer of dragons.
Perhaps another reason why EO's questions get ignored is because it's more fun to watch him get agitated (and, ultimately, implode) when everyone blanks him.
You'll probably die waiting for an answer.We can but hope.:)Perhaps another reason why EO's questions get ignored is because it's more fun to watch him get agitated (and, ultimately, implode) when everyone blanks him.
It is amazing isn't it? All these New Labour keyboard warriors silenced by such a simple question.
You would have thought they would have been falling over themselves to do their master justice.
As for Dr J he isn't worth a squirt of pi55.
IOTIt is amazing isn't it? All these New Labour keyboard warriors silenced by such a simple question.You would have thought they would have been falling over themselves to do their master justice.As for Dr J he isn't worth a squirt of pi55.
If you think I get agitated by anything you do then you are deluded. It is all one big game.
Nobody loses anything.
Unless you count your bottle and reputation.
Dr JIf you think I get agitated by anything you do then you are deluded. It is all one big game. Nobody loses anything. Unless you count your bottle and reputation.
Unfortunately Clarke also had the habit of announcing tax rises that would take effect by stealth later in his term (and after it in fact). Brown admired this style so much he took it onto a new level.
Unfortunately Clarke also had the habit of announcing tax rises that would take effect by stealth later in his term (and after it in fact). Brown admired this style so much he took it onto a new level.
Come on, Brown's achievement's are there for all to see. July 1997 01 Mortgage Interest Tax Relief At Source (MIRAS) reduced from 15% to 10% 02 Dividend Tax Credits for pension schemes abolished 03 Income tax relief on health insurance abolished 04 Insurance Premium Tax extended to some health insurance 05 Road Fuel Tax escalator increased to 6% 06 Vehicle Excise Duty increased 07 Tobacco duty escalator increased to 5% 08 Stamp Duty raised to 2% 09 Carry back of Corporation Tax losses limited to 1 year 10 Windfall tax on utilities March 1998 11 Tax relief for the married couple's allowance (MCA) cut to 10% 12 Top rate of Insurance Premium Tax extended to travel insurance 13 Exceptional increase in tobacco and alcohol duties 14 Duties on casinos and gaming machines raised 15 Road Fuel Tax escalator increase brought forward 16 Tax on company cars increased 17 Tax relief on foreign earnings abolished 18 Tax concessions for certain professions abolished 19 Capital gains tax imposed on certain non-residents 20 Restriction of Capital Gains Tax relief on reinvestment 21 Corporation tax payments on account brought forward 22 Stamp duty increased again 23 Certain hydrocarbon duties increased 24 Additional diesel duties introduced 25 Landfill Tax increased 26 Double tax credits on certain dividends restricted March 1999 27 National Insurance Contributions earning limit raised 28 NI Contributions for self-employed increased 29 Tax relief of Married Couple's Allowance abolished 30 MIRAS abolished 31 Self-employed contractors to pay NI and income tax as if employees 32 Company car business mileage discount limited 33 Double escalator on tobacco duties 34 Insurance Premium Tax increased to 5% 35 Vocational training relief abolished 36 Employer NI Contribution base broadened to include all benefits in kind 37 VAT on some banking services increased 38 Tax on reverse premiums paid to tenants by landlords introduced 39 Duty on domestic fuel oils up 40 Vehicle Excise Duty for lorries increased 41 Landfill tax escalator introduced 42 Stamp Duty rates raised again to 2.5/3.5% March 2000 43 Tobacco duties increased above inflation 44 Stamp duty raised for 4th time, scope of duty extended 45 Extra taxation of life assurance companies 46 Rules on tax havens tightened up 47 Company car taxes raised 2001 The Chancellor gives the exhausted nation a year off no new stealth taxes! April 2002 48 Personal tax allowances frozen 49 National Insurance threshold frozen 50 NI Contributions for employers raised 51 NI Contributions for employees raised [Class 1 up 1%] 52 NI Contributions for self-employed raised 53 North Sea taxation increased 54 Duty on some alcoholic drinks raised 55 Stamp duty thresholds frozen 56 Tax relief on investment in film industy restricted 57 Rules on corporate debt tightened 58 Nil-rate threshold for inheritance tax raised by less than the rate of inflation April 2003 59 VAT imposed on electronically supplied services 60 Domestic staff on 89/week to pay NI & income tax, employers to pay NI 61 Betting duty increases 62 Tax on red diesel and fuel oil increased 63 Anti-tax haven rules tightened to cover more UK firms with Irish subsidiaries 64 Vehicle excise duty raised 65 Personal tax allowances frozen again July, 2003 66 35 added to all fines and 3 added to the cost of a home insurance policy September, 2003 67 Price of petrol raised 7p per gallon (with the VAT) October, 2003 68 Up to 8 times increase in the stamp duty on leases for retail premises 69 Airport Tax doubled December, 2003 70 40% extra Council Tax on second homes was sneaked in while the Westminster Wonders were breaking up for their hols a whole week before Xmas. Additional info : It has been pointed out that a number of councils gave an even bigger discount for second homes and the increase for some people can be 80%. Plus the usual 6-18% annual rise, depending on how bloated the council's operations have become. Exemptions may be granted if the second home owner (1) has to live somewhere because of his/her employment, (2) the dwelling comes with the job, or (3) there are special threat/security reasons involved. All of which excuses apply to 10, Downing Street, the home of a certain Mr. Anthony B. Liar. (Thanks to M.K.) January, 2004 71 60 per day fine for late submission of self-assessment income tax forms 72 Traffic wardens to receive powers to impose fines for a whole bunch of offences to keep poor people off the roads. The offences will include parking more than 19 inches from the kerb (100) and dithering by people who are lost over, and who don't know whether to make a turn or keep straight on 73 A 'Victims Fund' surcharge fine on everyone who passes through the courts. 5 for speeding up to 30 for murder. 74 Legal Aid for the middle classes abolished February, 2004 75 40 per week charge to middle-class parents for formerly free nursery places 76 200 per year charge to middle-class parents for places on formerly free school buses 77 250 per hour charge from the fire brigade for non-fire-related call-outs, e.g. clearing up after road accidents and rescuing pussy cats from trees March, 2004 78 550 tax rise (at standard rate) for people using a company van or people-carrier out of work time 79 Council Tax will rise at least 7.4% next year (according to the Budget) 80 The tax incentive for owner-operator small businesses to become companies abolished 81 Tax on cross-border payments for goods and services between multi-divisional companies extended to transactions within the UK 82 Tax on trusts up from 34% to 40% 83 Duty on red diesel up 1p/litre above inflation (57% rise) 84 Duty on liquefied petroleum gas (LPG) used as fuel up 1p/litre above inflation (45% rise) 85 Personal allowances for taxpayers under 65 frozen April 2004 86 PEPs and ISAs containing shares lose their tax break on dividends and the annual ISA allowance cut by 2,000 to 5,000 87 The 100% tax allowance for small businesses & self-employed on new computer/advanced telephone equipment cut to 50% for 2004/5 tax year 88 Passports in addition to costing twice as much as the present price of 42, the new 'biometric data' passports will be valid for half as long. They will have to be renewed every 5 years instead of every 10 years, which doubles the cost yet again. 89 100 per year 'lighthouse tax' on small boats over 8 metres long. Commerial shipping lines think they should pay 2.6million per year towards the annual 73million cost of maintaining lighthouses and navigational equipment. May 2004 90 Council Tax bills to rise a further 110 in the affected areas to pay for 'Two Jags' Prescott's regional assemblies 91 Repeat prescriptions : They last only 56 days now. Previously, they lasted up to 112 days so costs for some people have doubled. The logic, apparently, is that people often don't take all of their tablets; BUT it still means that those who do have doubled costs. And it means twice the work for hard-pressed GPs. 92 Vehicle Insurance Premiums : In 1999, the law was changed to let NHS trusts reclaim treatment costs from motor insurance companies in cases where fault had been established and compensation paid. Insurance premiums have risen by at least 5 per year to pay for the charging regime. Before 1999 hospitals could only recoup 21 from road accident victims towards the cost of their treatment. The 1999 act set fixed rates of more than 400 per day for patients who were not admitted, and more than 500 for those forced to stay in hospital. In March 2004, the rates were raised, allowing hospitals to recover up to 34,800 per case. As a result some major hospitals are now claiming more than 500,000 a year from insurance companies. In effect, patients are now paying twice for the NHS through both taxes and increased insurance premiums.
etc,etc, you get the drift.
Come on, Brown's achievement's are there for all to see.July 199701 Mortgage Interest Tax Relief At Source (MIRAS) reduced from 15% to 10%02 Dividend Tax Credits for pension schemes abolished03 Income tax relief on health insurance abolished04 In
Potlis : A rather thorough analysis, I'm afraid. The quoting of complex facts will cause confusion and bewilderment within the Brown Tongue and Brown Trouser cliques that currently inhabit Brown's back passage.
The best we can expect is probably :
' Nasty Torys'
Potlis : A rather thorough analysis, I'm afraid. The quoting of complex facts will cause confusion and bewilderment within the Brown Tongue and Brown Trouser cliques that currently inhabit Brown's back passage.The best we can expect is probably :' Na
Economics seems like an area where it is much easier to c0ck it up than to do something genuinely positive. Accounts of economic disasters are legion but it's quite difficult to think of policies that have been unanimously praised by history. The Marshall Plan springs to mind but not much more.
On that basis I guess it is an achievement to be in charge for ten years with no catastrophes - but it's true that we'll only know that for sure after a few years. Could easily be trouble stored up for later.
Economics seems like an area where it is much easier to c0ck it up than to do something genuinely positive. Accounts of economic disasters are legion but it's quite difficult to think of policies that have been unanimously praised by history. The M
Surely the point is that if you steal another Chancellor's policies which have been working for the last four years it is chicanary of the highest order to then pass them off as your own.
Now perhaps Brown is a great Chancellor as so many of our resident sages suggest but managing to keep the good ship economy pointing in the general direction you inherited is hardly earth shattering.
So apart from spending like a sailor on shore leave who has just found a great big fat wallet what else has he done which wasn't already being down by Clarke?
We have had one contribution relating to the Bank Of England and the jury seems to be out on that one. However, even if we are charitable one would have to question whether that is evidence of his greatness in that he passed the buck to somebody else because he didn't feel qualified to take the responsibility.
Perhaps we should credit him with a greater degree of insight into his own incompetence than most of his colleagues. Perhaps if we set the bar low enough he really is great.
DocwiseSurely the point is that if you steal another Chancellor's policies which have been working for the last four years it is chicanary of the highest order to then pass them off as your own.Now perhaps Brown is a great Chancellor as so many of ou
EO - I wasn't trying to defend the idea that Brown was a great chancellor. It does seem that he benefited from both the global economic upturn and from continuing Clarke's policies. I was just responding to the original poster who said everything that Brown has done has been a failure - given the record of many previous chancellors, I don't think he belongs in that category. If Brown was a complete failure then I don't know how you could describe Norman Lamont.
EO - I wasn't trying to defend the idea that Brown was a great chancellor. It does seem that he benefited from both the global economic upturn and from continuing Clarke's policies. I was just responding to the original poster who said everything t
Its been systematically eroding for the last 30 yrs. To the sh1thole its becoming.
snooker punter 01 Nov 00:27 name me a better chancellor of the last 30 years lolIts been systematically eroding for the last 30 yrs. To the sh1thole its becoming.
Bottler Brown has ruled out giving cash handouts to families struggling with the cost of rising energy bills, it has emerged.
Bottler Brown explains what his government are planning to do to help families with rising energy bills. There had been speculation that ministers would unveil plans to give households up to £100, following in-depth talks with energy companies.
But Government sources have now said that they are focusing on long-term proposals including support for energy efficiency measures.
In a speech to the Scottish CBI in Glasgow tonight, Bottler Brown said there would be no
Bottler Brown rules out energy bill paymentsBottler Brown has ruled out giving cash handouts to families struggling with the cost of rising energy bills, it has emerged. Bottler Brown explains what his government are planning to do to help families
stoked a boom that has led to misery for millions.
the great thing is that because he is now our "unelected" pm, he gets to suffer publicly as his idiocy is laid bare.
labour's failure to sack him last autumn was a terrible mistake from their perspective.
bottler is the worst chancellor since the war.stoked a boom that has led to misery for millions.the great thing is that because he is now our "unelected" pm, he gets to suffer publicly as his idiocy is laid bare.labour's failure to sack him last autu
You said it Lampus ! Ths must be the only weapon in bottler's armoury at present. Be disloyal to me and i won't give you a chance in my final big payday,an outgoing list for the Lords !
You said it Lampus ! Ths must be the only weapon in bottler's armoury at present. Be disloyal to me and i won't give you a chance in my final big payday,an outgoing list for the Lords !