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?

Don't kow of any politicians not arrogant, they are always right , never answer a question with a straight yes or no and never apologise.

I despise him and his kind as traitors to the working class I just hope he willget sacked and the rest of them.

Gordon Brown has had it and he will hold on to power for as long as he can.....frankly labour have made a complete mess of their time in power....their only solution to anything when they make a shambles is to tax everybody more....now he abolishes the 10p tax rate, even accountants who never really get involved in politics have had enough of him....the good thing is that I think there could be a vote of no confidence in him and if successful...it could trigger an early general election !, this is by far the worst government in my lifetime !.

Can' you remember Heath, Callaghan,Foot, Major, etc......once they get their noses in the trough the promises of a new dawn fly out of the window.

Since elected Brown has been selling the national wealth in order to finance his spending plans. Remember the massive sales of gold at prices less than a third of the gold price today? Now his chickens are coming home to roost since he has no more paintings and furniture to sell. Britain's gold reserves are now amongst the lowest of the major economies
Remember also the old saying - what goes around, comes around? He spent half his time undercutting Blair, so why should anyone, apart from his cronies, show any loyalty to him? And least of all the people?

Couldn't resist this - from today's Sunday Times:

I agree with earlier posts, this Government after the first year or so in office went back to there old tax and spend ways, storing up terrible problems yet again. Why don't they ever learn. The sad thing is what alternatives are there, are there any MPs left with a good business background, I don't think so.

I can't resist it, so here goes.......

Bring back Maggie..........

No Maggie was rubbish she closed the coal mines and hey guess what she was wrong as the oil price proves today.

"now he abolishes the 10p tax rate"
And he was the one who introduced it to help the low paid! The low paid are now asking who is he helping now....in large numbers it seems hence the upsurge in the objectors in his own party. He will have to sweeten the pill but GB will be unlikely to back down completely. It would show a weakness, can't have that!

I bet Livingstone is spitting blood. Athough this furore is nothing to do with him, it must reflect badly at the polls on May 1st.

anybody noticed the strike at Grangemouth and the fact that Scotland and northern England will have no fuel by the end of the week?. This is the UNITE union , a died in the wool LABOUR UNION and supporter of Gordon.

says it all to me

Nigel Lawson was right ---taxes should be fair and collectible. In Times today he gives an interview about his new book rubbishing the claims and actions on climate change--he had trouble getting it printed apparently but US printers agreed. It sounds worth a read as even the interviewer who was ready to dislike him---found he agreed with the points he made. Switching to biofuels saves very little energy and causes international food shortages---then big trouble!! etc. Interesting that he now lives in France so he seems to have given up on the UK.
Stephen Dorrell who was in the last Con government commented on losing to Labour---that the country had forgotten what dire results came from Labour tax and spend a period of Labour would soon remind them!
I think we've been reminded enough--bring on the election.

And the deputy PM John Presecott has said he ate too many pies and cream cakes before throwing up in disgust.

Niel Lawson seems like a regular guy.

also HMRC are going to fine you now if you make a mistake on tax form.....they expect to raise another 1 billion........unbelievable.

HMRC msake mistakes but guess what happens. Yes, nothing.....they are arrogant too.

ps@ labour has always made a mess when in government....most are uneducated mainly and so lack intelligence let alone anything else

The Labour party have had 10 years to screw the Country now its the Tories turn.

The Tories must be hoping GB can cling onto the leadership until the Election

aye maddoctor

theres going to be a strike at grangemouth......little petrol for next month by looks of it.
i met a guy from manchester who helped run his dads business about 6 years ago......he told me then he was sick to death of britain.....you are not encoraged to be successful here.
anyway this pleasant quietly spoken young man was setting up in USA ....he said it was a breath of fresh air......sadly he was going to transfer as much business acros the atlantic.

theres 5 million brits abroad now which is about 1 in 10 of the population.....also we have the biggest emmigration of graduates than any other country in the world.
theres so many facts that tell you that uk is finished......my dad says that its just dross or babies / old people (as they cant be bothered leaving) who are left in UK.

mitzy

i'm not sure whether any person let alone a party would want power in next 2 years at least as country will get worse and worse financially.

theres predictions that housing will go down 25% in next 12 months and it will stagnate for up to 4 years also.
also banks are screwed with irresponsible lending etc......i think we should revolt about gov using our money again to bail out banks.
the banks are as evil as this government.

even under a REAL SOCIALIST like stalin, this increase in tax, dodgy corrupt banks etc etc this would never happen.....and we have massive violence, social unrest, huge immigration problems, unknown terrorists etc........all this would never happen under stalin who was a real socialist

I can see huge problems ahead scotinvestor with inflation and unemployment plus house market will fall for the next 2 years so whoever gets in will have big trouble sorting the mess Brown has caused.

Just running against the grain and acting as devils advocate.
Can we just be clear on one thing. If we take away the credit liquidity problem, there is no pressing argument for a drop in house prices, apart from media speculation becoming self fulfilling.
When measured historically, rather than recently, all the drivers of property are still good. Inflation, employment, supply shortages. When compared to the last few years, they do not look as good so an argument for stagnation is possibly reasonable, but take away the credit crisis and there is no reason for a crash.
I work in the industry, and maintain high level contacts within, and believe me, there is high pent up demand.
One broker of mortgages, with 200 advisors, reported on Friday a pipeline of 100m of lending, on offer and awaiting completion, plus much more awaiting offer or underwriting. They estimate this is less than half of enquiries they have and that but for the crunch, would have record pipeline business.
It is clear that many wanting to remortgage or buy are waiting for stability, not in employment, inflation or the housing market, but in the financial markets. Once this stability returns, so will they.
In conclusion. If the credit crunch abates, the downward spiral and lack of confidence will become a virtuous circle with rising confidence, as houses move and prices stagnate or rise.
As for oil prices and civil unrest, that is a different debate, but how much of oil prices are due to a lamentably weak dollar?
I for one understand anyone wanting to leave Blighty. I myself am busy talking to Canadian regulatory authorities about my qualifications and experience and how they may be applied there, but that is for very different reasons.
All IMO, but I am at the sharp end of the credit crisis and know what the public is saying in numbers, as well as the lenders take on it.
Alan