A Quote by Gordon Brown

Britain was set to repeat the boom-bust cycle that led to 15 per cent. interest rates for one whole year in the early 1990s. — © Gordon Brown
Britain was set to repeat the boom-bust cycle that led to 15 per cent. interest rates for one whole year in the early 1990s.
If we want to contrast what we have done in the past few years on delivery with what the right hon. and learned Gentleman delivered, let us remember the interest rates at 10 per cent. to 15 per cent., the 1.5 million fewer people in work, the boom and the bust and the borrowing at 8 per cent.
Indeed, Britain was set to repeat the old, familiar cycle of boom and bust. Since then, we have created and rigorously adhered to a new framework of modern economic management
We create these boom-bust cycles by manipulating the money supply and the interest rates and directing it where it went in. And that is what happened with housing: pushed into housing combination of easy money plus all the regulations, and we created this boom-bust cycle, and corruption, because corruption goes with it, because you don't have the same discipline. So we've got to stop all that.
Our royalty statement has been minimal and menial. Really. We don't collect more than a per cent of a per cent of a per cent of a per cent of a per cent of a per cent of a per cent. We get maybe the seventh of 1 percent.
If we are going to have a Fed, it should not fall into the tyranny of experts with the a fatal conceit that a few wise people can determine interest rates. Interest rates should be driven by the market, and people's time preference, and we see these boom-bust cycles.
Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
I often repeat three numbers: 20-23-26. Quebec generates only 20 per cent of Canada's wealth; it represents 23 per cent of the population, but it does 26 per cent of government spending in Canada. That's incompatible with good financial health over the long term.
The top 10 per cent of the US population appropriated 91 per cent of income growth between 1989 and 2006, while the top 1 per cent took 59 per cent.
Boom and bust cycles are very difficult for businesses because you're hiring a bunch because you're planning for the future. And if the future is going to be very big, you need to hire people, or suddenly you go to boom to bust, then all of a sudden, you're kind of battening down the hatches and trying to sail, you know, through the storm, it's a different thing. So part of it is making good decisions about, well, how long is a boom cycle going to be, you know, don't plan on it going forever.
Getting back to 100 per cent is one thing, but working at 100 per cent is something else entirely. And given one of my main goals has always been improving my skill set, to do that, I need to be working out at 100 per cent.
Britain does not want a return to boom and bust.
You know most people live ninety per cent in the past, seven per cent in the present, and that only leaves them three per cent for the future.
In 1936, money had no important role. Interest rates were one-eighth of one-eighth of one per cent. I did some research, and I found that the interest on one million dollars of ninety-day Treasuries was $37. People didn't even bother to collect it. The Fed wasn't important.
Under this Government, Britain will not return to the boom and bust of the past.
I want it to be 70 per cent beautiful, 15 per cent surrealistically beautiful, and the rest so beautiful that nobody can bear it.
If you walk along the street you will encounter a number of scientific problems. Of these, about 80 per cent are insoluble, while 19½ per cent are trivial. There is then perhaps half a per cent where skill, persistence, courage, creativity and originality can make a difference. It is always the task of the academic to swim in that half a per cent, asking the questions through which some progress can be made.
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