Gordon Brown demands emergency budget

A man with principles

No point speculating on what might or might not happen in the coming weeks/months. It is going to be hard for a lot of folk regardless of who wins the Conservative Leadership race.

It would have to be a record breaking budget for it to make a sizeable difference and I do not think either candidate has the balls to implement changes needed.

Chardy did you mean Gordon Brown when you wrote “A man with principles?”

As I remember he raped billions out of our (your’s and my) pension funds and sold off all our gold reserves, and wasn’t he the one who introduced quantative easing - in other words printing money to pretend to pay debts?

It's a problem GrannyGravy, but I don't think ignoring it will help.

With such huge numbers anticipated to fall into poverty they need to do something. If they can't, they should go.

DaisyAnne

It's a problem GrannyGravy, but I don't think ignoring it will help.

With such huge numbers anticipated to fall into poverty they need to do something. If they can't, they should go.

I am not disagreeing with you DaisyAnne

We can speculate all we like, but it will not change things.

I hope that when the new PM gets down to work with their new Cabinet that they will see the enormity of the crisis and act to help those in need now and put in place a mechanism to stop it happening again.

If there were to be a GE tomorrow the crisis would be the same, with the same hurdles to overcome.

The Prime Minister is on honeymoon, the Chancellor on holiday, Parliament in recess, the next PM is otherwise engaged... who would present this budget?

I doubt if they care... three of them will be out of a job in a month.

I didn't mean to disagree GranyGravy, rather say I have no answer to it other than an election. I know that, in itself, changes nothing but I do think oppositions have time to formulate plans. I'm glad Gordon Brown is (or appears to be) advising KS.

Esspee

Chardy did you mean Gordon Brown when you wrote “A man with principles?”

As I remember he raped billions out of our (your’s and my) pension funds and sold off all our gold reserves, and wasn’t he the one who introduced quantative easing - in other words printing money to pretend to pay debts?

I think you need to learn some economics.

MaizieD

Esspee

Chardy did you mean Gordon Brown when you wrote “A man with principles?”

As I remember he raped billions out of our (your’s and my) pension funds and sold off all our gold reserves, and wasn’t he the one who introduced quantative easing - in other words printing money to pretend to pay debts?

I think you need to learn some economics.

Agree, I think *Espee’s memory has been Daily Mailed.

Riverwalk

The Prime Minister is on honeymoon, the Chancellor on holiday, Parliament in recess, the next PM is otherwise engaged... who would present this budget?

I doubt if they care... three of them will be out of a job in a month.

I think you would have to recall Johnson and have him, Sunak and Truss, sit down together and start producing a plan starting now. That would not mean extra money has to be distributed immediately. Time is needed for departments to get organised.

Johnson is in a position to present such a thing if the other two have agreed.

Hers a more objective view Espee.
www.independent.co.uk/voices/gordon-brown-gold-reserves-sold-economy-analysis-financial-bullion-a8909611.html

Casdon

Hers a more objective view Espee.
www.independent.co.uk/voices/gordon-brown-gold-reserves-sold-economy-analysis-financial-bullion-a8909611.html

I think that a more pertinent point, though the article didn't make it, is that our gold reserves have nothing to do with the value of our currency, since the 'gold standard' was abolished some 50 years ago and we have a floating currency.

Nor is the country a business, which has to be valued by its assets. So the amount of gold we hold is not particularly significant.

OTOH, the QE (basically money creation, which is what the government has been doing for decades, just not in such large amounts) kept the affected banks from going under in the GFC and safeguarded the money of all the banks' depositors. Without that they would have found their money had disappeared.

The QE was nothing to do with debt payments.

Someone writing in to LBC has just said that all Gordon Brown is asking for is that the Government does it's job.

Sadly, that person was right.

Gold reserves were a drop in the ocean in terms of national wealth. After the banking crisis Brown did what any chancellor would have done, he had to rescue the banks, and make sure it didn’t happen again. I don’t think he deserves any special credit for doing that, whoever is chancellor next will do exactly the same and I’m pretty sure will get won’t be enough for many, that’s politics.

Katie, many world leaders praised Gordon Brown at the time and since. Just out of interest, why do you think you know better than they did?

Whatever people think of Gordon Brown’s own record, it would be hard to deny that what he is saying is true. He makes it clear that he isn’t bidding to return to politics. He is making a plea on behalf of the millions of people in the UK who will be cold and hungry this winter. I defy anybody to read the attachment to the original post and not agree with what he’s saying. Here’s another easily digestible summary of his points.
news.sky.com/story/former-pm-seeing-poverty-i-did-not-expect-to-see-again-as-he-demands-daily-cobra-cost-of-living-crisis-meetings-12668291

Katie59
What would be your alternative to saving the banks.
Like the majority of people I was spitting nails but knew the alternative would be truly catastrophic, not just for us but world wide.
So we just had to suck it up.

A farmer was on the lunchtime news telling us that he has started to use his winter feed on the animals: he’s run out of summer feed due to the weather.?

I feel so sorry for our farmers. This government have saddled them with Brexit and trade deals which will destroy our agricultural industry.

it is like a desert here
our farmers took to local facebook to slag off our brexit tory brainless MP

MerylStreep

Katie59
What would be your alternative to saving the banks.
Like the majority of people I was spitting nails but knew the alternative would be truly catastrophic, not just for us but world wide.
So we just had to suck it up.

There was no alternative it was unthinkable, Brown only did what any chancellor would have needed to do.
The value of sterling dropped over 40% and has struggled ever since

DaisyAnne

Katie, many world leaders praised Gordon Brown at the time and since. Just out of interest, why do you think you know better than they did?

New Labour promoted deregulation that caused the banks to take risks Brown supported that, so why give him credit for a very costly recovery.

None of your business, Gordon

Katie59

DaisyAnne

Katie, many world leaders praised Gordon Brown at the time and since. Just out of interest, why do you think you know better than they did?

New Labour promoted deregulation that caused the banks to take risks Brown supported that, so why give him credit for a very costly recovery.

I'm sorry, Katie59, but shouldn't it be the bankers that you are blaming, not Brown.? As I said earlier, bankers are supposed to be responsible actors, not wild gamblers. They shouldn't actually need to be heavily regulated. The fact that they weren't responsible was not Brown's fault. Treating them like responsible adults was clearly a mistake... in hindsight.