New pound coin coming.

Money, investing, mutuals etc
blythburgh
Posts: 15031
Joined: Tue Jun 29, 2010 7:14 pm
Location: The Far East
Has thanked: 31489 times
Been thanked: 6096 times
Contact:

Re: New pound coin coming.

Post by blythburgh » Tue Jan 03, 2017 10:44 am

As Harold Wilson said about the devaluation of the pound: "It will not affect the pound in your pocket".

Think he meant the pound in you pocket will still look the same but inflation will mean it buys less.

Inflation ran riot during the Labour Govt.'s time but they were getting it under control.

Then Thatcher kept her pre-election promise to not double VAT and only raised it from 8% to 15% which is one of the reasons inflation raged again
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

expressman33
Posts: 10047
Joined: Tue Jun 29, 2010 10:36 pm
Location: stockport
Has thanked: 2549 times
Been thanked: 10521 times
Contact:

Re: New pound coin coming.

Post by expressman33 » Mon Jan 09, 2017 6:54 pm


kevinchess1
Posts: 22741
Joined: Mon Jun 28, 2010 11:02 pm
Sharing: 3stars.png
Location: Miles away from the sea
Has thanked: 13007 times
Been thanked: 16694 times
Contact:

Re: New pound coin coming.

Post by kevinchess1 » Mon Jan 09, 2017 7:19 pm

blythburgh wrote:As Harold Wilson said about the devaluation of the pound: "It will not affect the pound in your pocket".

Think he meant the pound in you pocket will still look the same but inflation will mean it buys less.

Inflation ran riot during the Labour Govt.'s time but they were getting it under control.

Then Thatcher kept her pre-election promise to not double VAT and only raised it from 8% to 15% which is one of the reasons inflation raged again
Well I remember it different I'm afraid
i've not checked but I don't think inflation was ever as high under the Tories as it was under the Labour party
I willing to be corrected if I am wrong
Thanked by: blythburgh
Politically incorrect since 69

planteria
Posts: 5217
Joined: Tue Nov 23, 2010 4:52 pm
Location: Going down the Wednesbury Road
Has thanked: 420 times
Been thanked: 1577 times
Contact:

Re: New pound coin coming.

Post by planteria » Tue Jan 10, 2017 10:12 am

the detail doesn't matter now. the philosophies involved are clear :roll:
Thanked by: blythburgh

blythburgh
Posts: 15031
Joined: Tue Jun 29, 2010 7:14 pm
Location: The Far East
Has thanked: 31489 times
Been thanked: 6096 times
Contact:

Re: New pound coin coming.

Post by blythburgh » Tue Jan 10, 2017 11:38 am

What do you think happened to inflation when Thatcher almost doubled Kev? Inflation took off again with a vengeance just after Labour, very belatedly, were getting it under control again.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

macliam
Posts: 8183
Joined: Thu Jul 18, 2013 12:26 pm
Location: By the Deben, Suffolk
Has thanked: 1414 times
Been thanked: 7158 times
Contact:

Re: New pound coin coming.

Post by macliam » Tue Jan 10, 2017 1:50 pm

planteria wrote:the detail doesn't matter now. the philosophies involved are clear :roll:
Agreed, often such things as inflation are not altogether under Government control.

The problem is, like Doctors, they can never admit they "don't know" the cause of something, so tinker about addressing the symptoms. However, given the flack Gordon Brown got at the time of the US-generated financial crisis, I guess you can see why. The fact that he was singled out for his effective actions by all the other finance ministers in affected countries seems to have escaped people's notice in the UK, but, hey, as the Mail and Express know,why let the facts get in the way of a good story? :roll:

Inflation dogged governments of all shades in the 60s and 70s, as did industrial relations issues. Thatcher "tackled" inflation (and industrial relations) by stifling demand, increasing interest rates, capping public spending and increasing unemployment to over 3 million. That's why she is so adored by those who did well and disliked by those who saw the destruction caused. Rose-coloured spectacles and hindsight will not change those attitudes.
Thanked by: blythburgh
Just because I'm paranoid, it doesn't mean they're not out to get me

Post Reply

Who is online

Users browsing this forum: No registered users and 1 guest