Is the UK economy heading for disaster?

Question

Is the UK heading for economic meltdown, due to 10 years of
Labour Government, and their tax and waste policies and generousity to immigrants? It seems to me that the UK is built on the back of MEW (mortgage equity withdrawl), and not a booming economy. We are a nation of service industry and very little manufacturing, as the public want cheap goods, so the majority of manufacturing is done in China, Vietnam, India, Eastern Europe etc., using cheaper labour. The Govt have introduced 100 stealth taxes through the back door which affect hard working tax paying citizens, and little by little, the government take more and more money from tax payers. Where has all the Govt's money gone? And all the people paying into a system designed for us, yet fails us when we need it, people taking out of the pot who have not paid into it and our benefits system being a magnet to immigrants. If we offered no benefits, would they come? Many people are living on credit and beyond their means to exist

Answer 1

yes, heard on tv yesterday that house prices are starting to fall. so its going to be a disaster if that continues, i live on credit as do many of the people that i know.

Answer 2

No. While more regulation was needed socialism is not the answer either. Maybe a mixture of elements. Of course part of the reasons the Industry closed down in the 1980s is because socialism had made it unproductive and a drain on the tax payer if socialism had never been implemented after the war those industries may well still be here today. Its getting the balance right. In the 1970s we saw a stale economy caused by socialism. Then we saw a massive boom in the last decade and a half with the inevitable massive bust because of debt fueled unsustainable growth. There needs to be a balance of the two not either or.

Answer 3

Facts: People in the UK spend relatively heavily on luxury goods and are happy to incur unrealistic levels of debt compared with similar EEC neighbours. The World economy is slowing and the USA and our economic problems are being exacerbated by excessive non prime consumer lending. And the individual tax burden in the UK was over 1% below the European average 5 years ago. Otherwise how do you think less affluent economies (Spain) and those in a mess (France) manage to have better public transport and medical care?

Answer 4

UK economy is already stagnant.The Govt financial and industrial policies have made UK depending on USA.It has lost in international trade.No more UK products are required in international markets.Being a high cost economy it has become an importer rather than exporter.Immigration is due to high cost economy.Economic reconstruction of UK is the biggest challenge of this century.It has to reduce wage rates,modernise its industry,rebuild brands,skills of people has to be upgraded.It should invite international capital investment.For all this independant(non-USA dependant) policies are required.Will UK citizens will rise up to the occasion is the biggest issue.

Answer 5

i agree. if you step back and really take notice, new labour spend the vast majority of they're time thinking up hidden ways to tax us. they know full well that we are heading for a full melt down. that's why they are so keen to get us sold off to the EU so quickly. and that's why they are afraid to give the people of Britain a referendum. they know we will say no to it, and they will be stuck holding the baby, and having to face full responsibility. no one should be claiming benefits or receiving free health care from this country unless they have paid in for it. new labour is a corrupt and thoroughly dishonest government. and frankly show 'as example' the sham! that democracy in the west really is. to stand up before the people of Britain and say no! you are not having the referendum that the vast majority of us so obviously want, is the act of dictatorship. not democracy. new labour is a traitors government and should be forcibly removed.

Answer 6

a genuine immigrant normally work harder than the local as he /she came here to work not for dole money. even though many immigrants have not the government OK to work. so they milk the system and give very bad name to ALL the immigrants. i agree that the labour government has worsen the situation as it put much more stress on small business and working class that now it is very difficult to afford a mortgage. and with the interest rate reviews
(by the bank of England) each few months give you a very unstable future. the true of the matter is that politicians do things to profit for them self not for working people. some are more dishonest than others.

Answer 7

Very true, we spend a lot of our money on paying out to people who come here to sponge and do not contribute. Ive worked for years and paid my taxes and want them spent on people that need them not spongers, makes me sick. Many people are in debt due to easy credit and borrowing a mortgage they cannot afford to pay. Its all going to end in tears and repossession for many, fortunately Ive put by for a rainy day!

Answer 8

I'm afraid it is looking increasingly likely yes.
get rid of the bleeding heart soft touches and get back to being a strong independant country I say.

Answer 9

I agree that this country is going to collapse eventually if things aren't changed.

Answer 10

The UK government is a disaster.