Brown's spend, spend, spend during his Chancellor's days has brought us into the current economy we are facing today. His appeal at a Downing Street meeting for the lenders to pass on cuts appeared to fall on deaf ears with HBOS, which owns the Halifax, increasing its rate on some mortgages from 6.09 to 6.59 per cent. Borrowers taking out this type of deal will now pay 46 more a month. On a two-year tracker, the rate will increase from 1.49 points above base rate to 1.99 points, giving a current rate of 6.99 per cent.

Other lenders are expected to follow Halifaxs lead.

If the Government wants the banks to lower mortgage rates to home owners - why not just offer them through Northern Rock? Everyone would rush to the Rock to get the loans forcing banks to match the rates or lose the business? Or maybe the government would then run into bigger credit crunch?

he was a shoo in just after appt.

Oil is down to $US94...is petrol price coming down or the government is still fleecing us on fuel tax?

you lot are lucky , in Scotland we are stuck with Alex Salmond who knows so much about economics and the market , he blamed the fiasco at HBOS on "spivs and shorters" - he does know , however , how to make you lot in England pay for everything here!

Gordon Brown is given a 9-month grace period to further ruin the economy in England today.

Hylyeo, what are your positive suggestions to improve it!

I don't know what hlyeo98 thinks but, the first thing he could do is go into early retirement on a full pension even at 100% of his salary. That will work out alot cheaper in the long run for prudence, stability and the economic recovery of the uk. While this maniac remains in place things will just get worse. I just hope the SNP give him a good hiding in the Glenrothes bye election. Give Jack Straw a chance, who may turn out to be the quiet assassin.

Gus, what policy changes would you make at the present time to alter the obviously poor market functioning?

If you have any reasonable policies would you be able to push them through parliament and still be electable.

I think the present media and public mood and to blame the government for present economic chaos is laughable, when the majority of the problems are down to private greed.

Fred is right ... easy to govern when your not in power but has anyone here heard any viable alternative policies put foward ?

It would just be the same sh*t different faces.

.

This government has been in charge for the last ten years and has saved nothing for a rainy day. This government and this PM has done this. I am not disputing the greed of the banks and the live today and stuff tomorrow attitude. This government has played its full part in promoting this attitude and cosyed up to the mega rich. Now the climate has changed, they are scrambling for cover. It wasn,t our fault , not me mister. Its pathetic. They have made a laughing stock of us all. Leaving this man and his cronies in charge is like telling a demolition expert to build a house.

As to what is to be done. Well for sure there are no quick fixes. Reduce public sector spending to an affordable level with politicians leading from the front by cutting their wages and allowances. However, after making vast savings, I would pay nurses more and the people that are doing the real jobs. Too many time and motion and target setting bodies and quangos around. Banks must be regulated to ensure that business is done on plausible basis. Pay people regular salaries and get rid of the commission culture in finance. I could go on from bringing back capital punishment for murder and drug barrons but I would be spitting into the wind.

Whoever has to sort this mess out will find that tax cuts may not be possible for a few years without the uk's debt burden getting worse. It is time to let someone with more creditability try and we can certainly do without Gordon Brown's so called experience.

"Reduce public sector spending to an affordable level with politicians leading from the front by cutting their wages and allowances. "

I hope the Tories make this their motto for the next election. I am sure it will help them.

Another point about this suggestion is that (from memory) Roosevelt did the opposite to get America out of their recession.

I think I would agree with the reduction of quangos, but this would raise the unemployment levels.

I think that there are savings which can be made in public services (PFIs especially) , but I don't think that taxes will be reduced for a decent "caring" society. Redistribution of taxes is more likely.

I would be interested in the name of the politician you think who is more able than Brown at the present time.

Perhaps, you are thinking of the spiv Cameron. I think of him capable of spin, rhetoric with little or no substance. I have yet to read about one constructive policy he has mentioned. Isn't he quiet on the recent failure of capitalism.

As I say spitting into the wind. You asked for suggestions. I said previously that that Straw should be given a chance. You seem obsessed. There are good Labour people and there are good Tories. There is no magic wand. Brown has been tried and tested and has failed.

Small point, but worth mentioning.........

The culture of commission pay in finance industries is because the FSA made it almost impossible to sack someone in the industry for non-performance (ie low production), so how can the industry ensure it rewards those that work hard and gets rid of the lazy chancers?
Second point is that when the FSA cap commissions (as they did with pensions and ISAS) the average Joe cannot get quality advice as the only IFA's prepared to advise on small scale pensions and ISAs are the worse ones. The better ones command a high fee that Joe cannot afford, or advise only on larger investments for higher commission.
The real answer is to reduce regulation at the sharp end and increase it at policy design level. That would give quality products that cannot shaft anyone and ensure better quality advisors, who could not sell any bad products anyway, as they would not be available.

almost sounded plausable



ALMOST BUT NOT QUITE

Gus, I don't think so. Just fed up with the blame game, media spin and a lack of reality.
There aren't easy solutions to the present economic problems and destroying personalities does not improve the situation. Changing teams in the middle of a acute problem is not usually useful.

Sack them after the problem is over when the problem can be reviewed appropriately.

Well Fred we shall see. You are of the opinion that Brown will be leader at next General Election. I think he will be replaced and, if so, I would bet on Jack Straw, after all he is not a novice. I think he is biding his time as damage limitation is important as far as Labour is concerned. I would like to see the Tories win at next General Election but, I do not want to see a landslide. Totally dominant Governments are not good since all Governments should face a strong opposition to keep them on their metal. We await Glenrothes which will be interesting.

I totally disagree with Fred who is so sympathetic with Gordon and I also laughed when Bush came on TV this morning saying that the economy is in a disaster state now. All this is self-induced!

Hyl, You like the blame game, media spin and the lack of reality.

Good for you!



8-)

'Sack them after the problem is over when the problem can be reviewed appropriately'

Isn't that why people are sacked in the first place? They fail to identify the problem initially, let matters get worse, have no solution and therefore are rightly judged as incapable.

GB is actually worse than incapable, he has such a high opinion of himself, it's taken months for him to even begin to admit mistakes have been made. Sooner he's gone the better for both Labour and the UK.

spot on pth---some very deep and painful cuts lie ahead if we are to even begin to get out of this. Get rid of all the blood sucking quangos, don't hand out free theatre tickets to put bums on seats, stop handing out money to be wasted--we all know how! Cut fuel duty and increase pensions a bit more instead that might buy him a bit of time but basically it's time they all collected their gold plated pensions!! The next lot in will spend many unpopular years wrestling with this mess
no wonder the tories are in no hurry.