posted on Mar, 21 2014 @ 09:32 AM
George Osborne is a sneaky little creature who wants to make the U.K. HMRC like the U.S. IRS. I lived in both countries and I have recently had the
IRS stop my account for NO reason. I mean, I didn't owe anything, I didn't receive any letters saying I did, and no apology was ever given, even
though for an entire week I could only feed my kids sandwiches for dinner with no access to my account.
reply to post by Korg Trinity
you are incorrect about the current "economic recovery". The banks are receiving free money from the Bank of England, to lend out at a percentage.
This means that the banks can make whatever risky investments they want, knowing that the government will bail them out with taxpayers money. It is a
Now, the recovery in the UK, fueled by low interest rates is a false one. The Uk has a current account deficit of over 5% GDP, the worse of any G7
nation. The debt to income ratio is growing year on year, wages are still declining, and the cost of living is still increasing. Oh yes, inflation is
down they say, but only because they now neglect to consider the rising cost of food in the rate.
The recovery is a consumer credit based one, where people are "happy" that their home prices are going up (artificially by cheap money and loans, as
in 2008) so they spend more. 2.4% increase in UK house prices in february is frightening, and 7.9% year on year (Halifax, 2013) is ridiculous.
Just wait till 2016, when interest rates will have to go up and we will have another property crash. I don't see any way around it.