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so Brits - what to spend your tenner on? - 11/24/2008 1:12:24 PM

LadyEllen

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More "strong action on the economy" from the Brown government today - a 2.5% reduction in VAT from 17.5% to 15% which is meant to stimulate consumer spending.

Based on average salary, and assuming everything one buys has VAT at full rate on it (which is by no means the case - food is VAT free for instance), this represents a boost in spending power of £10-00 per week each!

Let the partying begin.

£10-00; 2 packets of cigarettes, or 4 pints of beer in the pub or 10 at the off licence, or two lots of fish and chips, or just over 2 gallons of petrol. Half of a skirt, one leg of a pair of trousers or half of a top at a mid range retail outlet.

So, what will you spend your tenner on? Or will it go on utility bills, credit card interest, mortgage payment increases or will you save it?

E

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RE: so Brits - what to spend your tenner on? - 11/24/2008 1:19:50 PM

Politesub53

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Im saving mine for when he takes it back......and believe me, he will.

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RE: so Brits - what to spend your tenner on? - 11/24/2008 1:23:52 PM

LadyEllen

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I thought the prediction of 2% growth for 2010 was admirable though, didnt you? So justifying the take back....... and making it our fault for not spending our tenner now to produce such recovery if we havent got the money by then!

Wondering about relocating the company to Italy or Slovenia. Sunshine, great food, people who dont have that "dressed by Oxfam" look and who still have the vestiges of manners, a more laid back lifestyle, not sucked into every latest financial scam et al, the possibility of owning a gun and a Ferrari, being treated with respect as a business owner rather than a criminal......

E

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RE: so Brits - what to spend your tenner on? - 11/24/2008 2:03:02 PM

Politesub53

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I think the 2% growth is optimistic. Much depends on what happens worldwide. I read that Brown and Darling have had furious rows on this matter. My guess would be Brown got his own way. My question is what will he do if todays actions fail to kickstart the economy, as we will then have these massive handouts to pay for. I am not sure you will be any better off moving your business abroad either. The Italian economy is in bad shape

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RE: so Brits - what to spend your tenner on? - 11/24/2008 2:15:58 PM

Vendaval

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Not a Brit here but chiming in with my $10.00. When I happen across a bit of extra cash that most likely will go for either renting DVD's or catching a film at the theatre. I do not smoke and am not in a bar mood lately.

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RE: so Brits - what to spend your tenner on? - 11/24/2008 2:17:34 PM

LadyEllen

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Well thats true enough PS - but better to be in the sun in a relaxed culture than in this dump if we have to live in cardboard boxes
E

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RE: so Brits - what to spend your tenner on? - 11/24/2008 2:19:47 PM

Vendaval

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I hear you, Lady E. The sun is hiding his face today though. All cool and foggy with rain coming in this week. Just in time for the Thanksgiving traveling rush.

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RE: so Brits - what to spend your tenner on? - 11/24/2008 4:42:04 PM

Termyn8or

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Actually that is more like a twelve percent reduction of the tax. It's only 2.5% of the total. What are they going to do without all that money ?

T

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RE: so Brits - what to spend your tenner on? - 11/24/2008 4:44:54 PM

GreedyTop

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quote:

ORIGINAL: LadyEllen

I thought the prediction of 2% growth for 2010 was admirable though, didnt you? So justifying the take back....... and making it our fault for not spending our tenner now to produce such recovery if we havent got the money by then!

Wondering about relocating the company to Italy or Slovenia. Sunshine, great food, people who dont have that "dressed by Oxfam" look and who still have the vestiges of manners, a more laid back lifestyle, not sucked into every latest financial scam et al, the possibility of owning a gun and a Ferrari, being treated with respect as a business owner rather than a criminal......

E

oh, NO YOU DONT!! jeez... part of why I'm looking forward to moving there is YOU!!

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RE: so Brits - what to spend your tenner on? - 11/24/2008 4:55:00 PM

rachel529

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why cant you get a ferrari in the UK?

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RE: so Brits - what to spend your tenner on? - 11/24/2008 5:27:55 PM

Dargrim

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Probably an expensive suit. Might take me a couple of weeks searching round Oxfam shops for one which fits, but defienetly a new suit.

Either that or start a revolution, rally the proletariat, take back the means of production, butcher the bourgeoise. lol.

2 years is unlikely, its expected to last longer, he working on the best possible future here, to try and soften the blow, or to restore confidence so spending goes back up high to stupid levels. So suggests undergraduate Disaster Managers, and all the buissness men and econimists on Channel 4 news.

Got to love an economic plan based on that well known addage "What goes up.... can't possibly ever fall, at all in anyway, even slightlly"

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RE: so Brits - what to spend your tenner on? - 11/24/2008 7:26:25 PM

corysub

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Looks like the "free" national healthcare is going to cost someone. Tax rates for high earners could go to around 60% based on Telegraph article.
http://www.telegraph.co.uk/finance/financetopics/budget/3513516/Pre-Budget-report-National-Insurance-rise-adds-to-high-earners-woes.html

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RE: so Brits - what to spend your tenner on? - 11/25/2008 5:27:25 AM

LadyEllen

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quote:

ORIGINAL: rachel529

why cant you get a ferrari in the UK?

simple cashflow. In the UK we're expected to pay our suppliers in 30 days. In Italy 120 days and longer is quite normal. Moving to Italy and paying Italian suppliers whilst getting paid in 30 days by UK customers means I get a boost of around £500k in the cashflow over that time period.

Given such a scenario, I as owner of the company can use those extra months' revenue before I start paying out suppliers for all manner of things - a Ferrari, a huge villa with swimming pool, fancy designer clothes and watches et al. This is why the bosses of Italian companies have all these things, whilst the likes of me makes do with a second hand Jag (poor me).

E

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RE: so Brits - what to spend your tenner on? - 11/25/2008 5:32:01 AM

LadyEllen

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GT - dont worry; its actually fairly unlikely I'd be going anywhere - kids in school and all that.

But it does sound interesting - I fear my country is going down the toilet quick and just about everyone will follow suit so then its a matter of choosing where to be poor I suppose?

E

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RE: so Brits - what to spend your tenner on? - 11/25/2008 5:33:22 AM

GreedyTop

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*whew* ok :)

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RE: so Brits - what to spend your tenner on? - 11/25/2008 5:35:56 AM

Dnomyar

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A second hand Jag and I am driving a KIA. Expect no sympathy from me.

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RE: so Brits - what to spend your tenner on? - 11/25/2008 5:37:31 AM

LadyEllen

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Indeed - but then you fail to take into account just how damned important I am!

E

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RE: so Brits - what to spend your tenner on? - 11/25/2008 5:49:59 AM

ThundersCry

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Not a one spending it on pussy...

Shocking...

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RE: so Brits - what to spend your tenner on? - 11/25/2008 6:23:21 AM

LadyEllen

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Good point TC - a tenner will buy a 24 box of my kitties' favourite food and three packs of the treats they love

E

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RE: so Brits - what to spend your tenner on? - 11/25/2008 6:47:41 AM

stella41b

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quote:

ORIGINAL: ThundersCry

Not a one spending it on pussy...

Shocking...

SlaveIndigoChild and me have been discussing getting a bondage kitteh for the munch, is that close?

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