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This is also lovely

I have posted three new items to the glossary this morning, all in time for tomorrow’s budget. They are on:

Fiscal rules
Fiscal choices
Fiscal space
All of these are part of the mumbo-jumbo of budget day, and all are complete nonsense.

As I explain in more detail below, there are no such things as fiscal rules. There are only fiscal choices. As such fiscal space is simply the spending the Chancellor can make without embarrassing his or herself by breaking their own meaningless rule.

So Liz and Kwasi could have done what they wanted to do then?

4 thoughts on “This is also lovely”

  1. Spud obviously didn’t mean it this way, but I like to read into the statement, that it is his glossary definitions that “are all complete nonsense.” Which would undoubtedly be true.

  2. I see in the budget that the Uk has become even more of a gerontocracy – the pension cap has been abolished, not merely lifted, so the aged wealthy can accrue even more wealth while younger generations struggle to gain any sort of foothold on the ladder.

    Everything is now set up in the UK to advantage the elderly – huge amounts are taxed to spend on their pensions, health and social care, the planning system is designed to keep their house prices high, the response to every financial crisis is to print more money which pushes up asset prices, which they own most of. Any attempt to make the elderly pay for their own old age care is voted out because their children don’t want to lose their inheritance. Now they are to be able to accrue huge pension pots in the millions free of any tax and pass that on to their kids too.

    It would serve them all right if the young all f*cked off abroad and left the OAPs to moulder in their houses that are now worth tuppence ha’penny because the only young people left in the Uk are asylum seekers who haven’t got sod all anyway.

  3. Jim, the problem is, where do you fuck off to? It’s not as if most Euro countries don’t have similar demographic and economic challenges as the UK; the nice bits of USA are even worse off and who would want to live in Canada, New Zealand or Australia these days? Are they the kind of people with enough get up and go to make it in Africa, Southeast Asia or South America? Woke degrees won’t cut it there. Nor will they work in Albania or Bulgaria

  4. It’s wierd. This afternoon I was discussing with friends how I’m successfully helping my Mum maneuver her assets into liquid form to pay for her care for the last years of her life, and using various calculators and jocularly saying “Mum can afford to stay alive until she’s 98”; and a visitor was telling us how her father had put all his assets in trust for his children to ensure none of the money he’d saved for his future would actually be used to pay for his future, and he’d leech off the state instead. Prudence deemed the conversation turn to other matters.

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