Brexit and Future of UK : Discussions

It's to justify that our debt is tiny and that we can still take on a lot more debt, unlike the UK, whose situation has deteriorated since the Brexit.
It doesn't justify that though. You can only pay debts with income, which is tax revenue, not hypothetical asset values. France has a larger debt that the UK and collects less tax revenue, despite higher tax rates. That's a fact, deal with it. Personal debts aren't even the same thing as national debt, so it's flawed to even include them. I mean when you start talking about personal wealth, there are criminal syndicates, off-shore trust accounts. A lot it is hidden.
 
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It doesn't justify that though. You can only pay debts with income, which is tax revenue, not hypothetical asset values. France has a larger debt that the UK and collects less tax revenue, despite higher tax rates. That's a fact, deal with it. Personal debts aren't even the same thing as national debt, so it's flawed to even include them. I mean when you start talking about personal wealth, there are criminal syndicates, off-shore trust accounts. A lot it is hidden.
The value of the assets is not hypothetical, it is not necessarily mobilisable in the short term, but it is in the long term, so it is a guarantee and this guarantee lowers the interest rates we are granted, which means that for the same cost we can borrow more.
 
France has a larger debt that the UK and collects less tax revenue, despite higher tax rates.
Comparison of tax collection between France and the UK according to the OECD
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:ROFLMAO: :ROFLMAO: :ROFLMAO:
 
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Comparison of tax collection between France and the UK according to the OECD
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:ROFLMAO: :ROFLMAO: :ROFLMAO:
OECD - That well known financial institute. :ROFLMAO:

2021 According to World Bank

*LCU = Local Currency Unit, i.e. EUR for EU, £ for UK

France EUR570bn



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UK £522bn x 1.155 (XR) = EUR603bn



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That's with lower tax rates too - 24.26% of GDP vs 24.78% of GDP


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It gets worse still for you: :ROFLMAO:


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The value of the assets is not hypothetical, it is not necessarily mobilisable in the short term, but it is in the long term, so it is a guarantee and this guarantee lowers the interest rates we are granted, which means that for the same cost we can borrow more.
It is highly hypothetical, especially when it includes private assets, which are not even accessible by the government paying the debt, which people need to live in and companies need to operate and/or pay pensions.

One of the reasons you have higher assets is probably also due to a larger public sector, with subsequently higher public sector pensions. Which begs the question whether this 'assessor' tracks private pensions, I mean how would they right, without a data breach. Like many assessments there are unknowables like private pensions and off-shore trusts etc. But what is knowable is that if you tried liquidise your privately held assets by upping taxes so high that people/companies were forced to sell them, then two things would happen:

1. The companies would be unable to operate OR they would just leave France and tell you to GFY. Latter being more likely where possible.

2. People would end up homeless, or they would leave France and tell you to GFY.

3. The value of the assets would depreciate massively due to supply outstripping demand. I mean, you've just forced every person and company to leave so who the f*ck is going to buy them?

Basically you would recreate 2008 except just within the borders of France. Remember all those houses that were worth X until they were foreclosed at 0.5X?
 
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I'm not going to argue nonsense forever, I'll just illustrate with data, the mechanism I described here:
and that BMD disputes:

Annual interest on UK debt: £70bn which is €80.73 bn.

Interest payments on the national debt rose to their highest level ever last year, as the UK’s public finances reel from the huge cost of the pandemic.

The government’s statistics department said the debt pile stood at £2.3tn last month, with interest payments rising to nearly £70bn, a record amount according to the Office of National Statistics (ONS).


Annual interest on France debt: €34.5 bn.
En 2021, la charge d’intérêts de la « dette publique », c’est-à-dire la dette consolidée de l’ensemble des « administrations publiques », s’est élevée à 34,5 Md€
Translation
In 2021, the interest payments on the "public debt", i.e. the consolidated debt of all "general government", amounted to €34.5bn​

I am trying to explain why France, which has a debt of $3329.4 bn, only pays €34.5 bn, while the UK, which has a debt of $3039.3 bn, pays €80.73 bn. But BMD does not want to listen.

The difference between the two is about our defence budget anyway, so it's worth understanding.
 
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cf3a629ec899c2de976afe7fdc70b02d.jpg

I'm not going to argue nonsense forever, I'll just illustrate with data, the mechanism I described here:
and that BMD disputes:

Annual interest on UK debt: £70bn which is €80.73 bn.




Annual interest on France debt: €34.5 bn.


I am trying to explain why France, which has a debt of $3329.4 bn, only pays €34.5 bn, while the UK, which has a debt of $3039.3 bn, pays €80.73 bn. But BMD does not want to listen.

The difference between the two is about our defence budget anyway, so it's worth understanding.
Fraudulent assessment.

You were undergoing inflation in order to boost your economy with 0% interest. Your finances are a con because the ECB lends to France and the then the ECB has external debt too. Hence, your debt is double stacked as an EU member and you're leaning on other more frugal members. Nobody lent money to France under those conditions, they lent it to the ECB, who then lent it to you. If you left the EU, your interest rates would be in double figures.

Note date of story - AUGUST 23 2022:


Now look at the graph.


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The EUR isn't performing any better than the pound, so the only investor you got is ECB at those rates. But the ECB bailed and now you have interest rates again, more to come.



Good luck. :ROFLMAO:
 
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European Union External Debt accounted for 129.5 % of the country's Nominal GDP in 2021, compared with the ratio of 130.4 % in the previous year.

Debt pyramid. How much debt is the EU paying on your behalf? Don't come at me with half facts, it didn't work during the Brexit referendum and it won't work now.
 
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There is a problem with the French maths here too. Tax collected EUR570bn:


Public spending EUR496.4bn:


Alleged interest payments EUR 34.5bn:


Debt down 1.7% of EUR2.887tr = EUR49.1bn


Now, with me:

570 = tax revenue
496.4 = spending (2021)
34.5 = interest

57.7 = capital

570 - 496.4 - 34.5(?) - 49.1 = EUR 18.6bn deficit.


But wait, you have:

Deficit - 6.5% of (0.99 x $2.916tr) = 6.5% of EUR2.887tr = EUR187.6bn


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Macron has pocketed EUR169bn! Or was it von der Leyen? My God, they're worse than Putin's lot. :ROFLMAO: :ROFLMAO: :ROFLMAO:

You don't even know what you're paying do you?
 
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European Union External Debt accounted for 129.5 % of the country's Nominal GDP in 2021, compared with the ratio of 130.4 % in the previous year.

Debt pyramid. How much debt is the EU paying on your behalf? Don't come at me with half facts, it didn't work during the Brexit referendum and it won't work now.
  • United Kingdom External Debt accounted for 310.7 % of the country's Nominal GDP in 2021, compared with the ratio of 334.4 % in the previous year.
🙃🙃🙃
 
There is a problem with BMD: he demonstrates that the figures he provided are nonsense and he attributes this to French mathematics. 🥳
My figures are from the World Bank, as stated at the bottom of the graphs. You can retry the calculation with your figure of $1192.1bn (EUR1182.2bn) in French tax revenue but then the discrepancy will grow from EUR169bn to EUR781.2bn. :ROFLMAO:
 
Government revenues:
By the way £71185.00 Million is 82.07702 bn €..... Only 😃
French:

Government Revenues210.71192.91EUR BillionAug 2022

UK:

Government Revenues71185.0071804.00GBP MillionSep 2022
 
  • United Kingdom External Debt accounted for 310.7 % of the country's Nominal GDP in 2021, compared with the ratio of 334.4 % in the previous year.
🙃🙃🙃
$6.4tr for France.


External debt includes all private loans though, which is again irrelevant to government budget/debt.
 
Government revenues:
By the way £71185.00 Million is 82.07702 bn €..... Only 😃
French:

Government Revenues210.71192.91EUR BillionAug 2022

UK:

Government Revenues71185.0071804.00GBP MillionSep 2022
Look again at the numbers. Ours are monthly, yours are cumulative. Apples and oranges. E.g. Sept 2022, France is 211-192 = 29bn. UK is 71bn. You should have figured this out, otherwise you'd be collecting your whole GDP in tax if that was the monthly take for France.:ROFLMAO: If you add up our monthlies and subtract expenditure, our numbers balance, yours do not. #EU Blackhole

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My figures are from the World Bank, as stated at the bottom of the graphs. You can retry the calculation with your figure of $1192.1bn (EUR1182.2bn) in French tax revenue but then the discrepancy will grow from EUR169bn to EUR781.2bn. :ROFLMAO:
If I were to do such a calculation, I would be careful not to mix sources and forget expenses. But I don't want to, there are specialists for that.