Comments for Ed Balls - Labour MP Blog

Comment on Daily Mirror article: this unfair VAT bombshell is a betrayal by memes

memes — Mon, 30 Apr 2012 16:34:24 +0000

memes…

[...]Daily Mirror article: this unfair VAT bombshell is a betrayal « Ed Balls – Labour MP Blog[...]…

Comment on Andrew Marr Show interview transcript by Mary nash

Mary nash — Mon, 20 Jun 2011 20:16:42 +0000

Brilliant and impressive interview. As always, an indefatigable, courageous fighter. Glad Ed Balls chided BBC for repeating endlessly the Tories’ mantra like a broken record that Labour created the mess. The shadow cabinet should do this more often.

Comment on Andrew Marr Show interview transcript by doreen ogden

doreen ogden — Sun, 19 Jun 2011 13:41:25 +0000

Really good answers to Marrs questions. Surprised his socks didn’t put you off !

Comment on Sunday Mirror article on the economy, strikes and public sector pensions by Graham Hopgood

Graham Hopgood — Sat, 18 Jun 2011 20:54:07 +0000

Soooooo… what is your stance on public sector pension reform? Are you backing the proposals of the coalition, proposals that happen to have been designed by one of your ex-cabinet colleagues?

A temporary rise on VAT is not going to fill the pensions blackhole that I (as someone 40+ years away from retirement) am going to be taxed through the backteeth for – so please stop dodging the detail and either support what’s on the table or tell us what you would actually do differently.

Comment on London School of Economics lecture by Rabih

Rabih — Fri, 17 Jun 2011 23:10:36 +0000

The problem with the recent reforms is that it will all fall on the heads of the hard working people, low and medium incomes” the main spenders” .growth is very low, the value of the currency dropping, prices are increasing, taxes higher then anytime, energy prices and commodities at it’s highest level,
The only thing that is / will freeze is the income, the government reform all aimed at it ,income review is not mentioned in any reform neither exists “at the moment” on any serious agenda.

What will happen is money will be held tightly ,cant be invested because of the exceptionally low interest rate “siege“. the fear is that it might lead to a slow dry out of funds and capital. Government will then and again will be forced to cut spending , increase taxes or VAT. With negative forecast that will push away funds and investments, far and away.

From a straightforward economy point of view lowering VAT is ideal to face such tight budgets ,to improve consumer spending levels ,to rather allow people to spend.
Labour had tried this policy when the Government back then was forced to switch policies in a very short period of time to face the credit crunch and global size recession , with such policy managed to achieve a very positive results in a very short period of time something that inspired world , again Ed balls went through a historical stage, and achieved under pressure .

Lowering VAT together with a reform to the minimum wage (increase wages -public and private at least to inflation levels will achieve a productive cycle,a cycle that generates) something might revive the financial market. “spending horizontally “ to include most sectors, bring back consumer trust.

Sadly at the moment with the freeze of income , every family is losing around £5.20 on every £100 they spend ,excluding VAT variations.

Comment on London School of Economics lecture by Jenni Black

Jenni Black — Fri, 17 Jun 2011 14:47:47 +0000

I’m an LSE student and was lucky yo get a ticket to see this speech. I have to say I loved it, particularly the point about Osborne’s political agenda in getting the ‘pain’ over early. Also it’s very interesting to see how the speech has been covered in the media- it’s vitally important that you keep reiterating Labour is not the ‘anti-cuts’ party, but rather has a more sensible long-term approach to how to reduce a deficit.

Comment on Statement on Daily Telegraph reports by matt

matt — Thu, 16 Jun 2011 17:35:19 +0000

But Lee, you are not comparing like with like. It is therefore a meaningless comparison.

1997 was just four years after the previous recession, of course the figures were worse.

If you want comparable figures, compare 1997 with the levels of debt in 2013-14. Not quite so flattering of your argument now, is it?

Comment on ‘Britain’s Lost Talent’ – Ed’s article in tomorrow’s News of the World by Vanessa

Vanessa — Wed, 15 Jun 2011 15:10:42 +0000

Once again Ed speaks the truth , great article.

Comment on Growth figures and downgraded OECD forecasts confirm UK economy has entered a more difficult phase by Paul

Paul — Tue, 14 Jun 2011 02:30:07 +0000

A quick suggestion – I have been an expat now for over 7 years. I feel proud to be British but quite said that financially it is so much better for me to live abroad. One method by which you could raise revenue for the UK while not effecting its economy is to apply a “passport” tax. As expats we all expect to return to the UK one day and use its services. I think it would be entirely appropriate to tax us at a reduced rate (say 10% – maybe with a large deductible) for the privilege of always being able to return. This would reduce the brain drain, raise revenue and have no negative impact on the UK economy – why don’t we do it.

Comment on Statement on Daily Telegraph reports by Lee Godfrey

Lee Godfrey — Sat, 11 Jun 2011 08:57:41 +0000

Good response. The fact that the debt and deficit were lower in 2007 than in 1997 is not used nearly enough in public discourse. Need to to repeat and repeat that fact until blue in the face.