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?

yes, brown put it into euro....and i think also linked to US $ OR their housing....i cant remember now as i read it years ago.

i been complaining about him for 6 years now and its funny that some people i used to know start complaining NOW but away back then told me to stop moaning.....its amazin g what happens when people are personally affected and then their opinion counts.

what happened to the caring people in uk?
suppose they all left to go to oz etc

Firstly, ther is a very good reason that the government don't use Northern Rock to offer lower rates and force the others to follow suit. They would break their own liquidity rules for banks.
It is this bunch of rules that have made lenders all but withdraw from the market, and the answer is a redraft of the rules, possibly using shareholders and directors to offer guarantees, like the Lloyds insurance market. That would ease it all.
The industry is currently polarised on opinion. Some are calling the end of the crunch, more or less while others are still forecasting deeper gloom.
What worries me most is the crunch ending and there being a collective wiping of brows, patting of backs at avoiding meltdown and a return to the old ways.
That would signal a collapse that would make the great crash seem like a minor correction, over the next few years.

More precisely Gordon Brown is ruining the economy of England.

Gordon's mistake as i understand it was announcing his "intention" to sell the gold,
which caused the price to drop quite dramtically?
cyril

brown doesnt understand free market or the capitalist world......he's putting more work in public sector and has done a U turn on reducing people in public sector who mainly dont care compared to private companies where many are expected to perform.

at end of day, this AINT A SOCIALIST COUNTRY.....ITS A MILD FORM OF CAPITALISM.

brown doesnt understand free market or the capitalist world......he's putting more work in public sector and has done a U turn on reducing people in public sector who mainly dont care compared to private companies where many are expected to perform.

at end of day, this AINT A SOCIALIST COUNTRY.....ITS A MILD FORM OF CAPITALISM.

Now that the economy is so far down the wrong road, in some ways, I hope it continues to journey along it because imho Brown will get his marching orders. There are some good people in the labour party who have warned the Government of the error of its ways in the past, only to be pushed to the side lines. The country needs to see the back of this Government and get some new management in. If only it was as easy as with Companies. A catalyst could well be the announcement that Shire Pharmaceuticals is intending to change its domicile for tax reasons. This is the thin edge of the wedge and will place the country's finances under additional strain if others follow suit. The chickens are now coming home to roost and imho his pension should be raided and severely reduced as a reward for his wasteful performance. Plenty of others fit this bill as well but,making a list will only exhaust me.

his spin doctor once said to me that a bloated civil service was good for the economy " as it sent the money around and around "

could not see it myself but he just said i knew nothing about economics

Well Maddoctor, that is an example of their sheer arrogance and disrespect for the public's money.

looks like more rebels opposing Governments decision to abolish the 10% tax band. According to Sky news, Alister Darling, is looking at ways to effectively back track. Given Brown's insistance yesterday that the band will remain,should there be a back track, no matter how it is dressed up, I would have thought it would make Brown's position untenable. I expect the band will be abolished but some other concession introduced enabling Brown to save face, only in his opinion though.

Petrol up every day and more taxes to come why do people bother.

There is no doubt Gordon Brown will be elected out of the next election. He can't blame on anybody but himself.

he will though......he is so arrogant

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..........