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Triple blow for UK economy
starsailor
Posts: 11,347 Forum Member
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http://www.guardian.co.uk/business/2009/jun/18/economic-recovery-blow-public-spending
Green shoots? I don;t think so.
£190bn borrowing in the year. Now tell me how we can afford to keep increasing spending like reckless labour 'say' they would do.
Green shoots? I don;t think so.
£190bn borrowing in the year. Now tell me how we can afford to keep increasing spending like reckless labour 'say' they would do.
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let's p*ss more billions down the drain
Large amonts of cash he will also spend propping up the public sector pension pots while the private sector pension pots suffer.
That is 100% certain to create the wealth that we so desperately need to kick-start the economy. Gordon is the man, yeah;)
Watch out for a Brown give away budget this Autumn or next Spring to be followed shortly after by a snap election
VAT cut to 12.5%. Basic Rate Income Tax to 15p. Pensions increased by 19% , Benefits up 5% to 10%
Fuel Duty Reduced by 10%
Numberplate, CCTV, Mobile phone tracking abolished, DNA databases only for criminals, no ID cards, no border exit surveillance and no stupid questionnaire, no credit card number collection, no empowerment laws etc etc..
So basically no Stasi state.. Zank yu very much... Genosse Braun...
More spending and borrowing is the answer!
Essentially hes just closed his eyes and covered his ears to the problem, pathetic really.
If the borrowing is higher than the predictions for this year & next year, the real cuts in departmental budgets will have to be even greater because there will be a larger debt to service, unless there are tax rises planned in the next budget:eek:
He hopes if he does that the problem will disappear. "Tory cuts, Labour investment" that is the only answer he has and he is just under the mistaken impression that the great British public are as stupid and he is and believes what he tells them.
As proved with the spending increases in the second Labour term, it takes time for the public sector to spend the increase. The same goes for reductions in spending too, is it important for the review to happen this year so departments know what the cuts are so plans can be made to reduce spending in an organised way which can minimise the effect on front line services.
Its terrible cowardice from the government, to make their sledgehammer of an attack work they want as little information made available to the opposition as possible. I'm guessing this is mainly because of the analysis made of the Budget which had the government tying itself in knotts at the time and since.
excellent post.
Investments cut to the bone already, if it goes any further then they will have to stop current projects which will make the government look bad. All those half finished schools, empty hospitals etc, will be a field day for the press.
A very scary chart of public borriwng over the years
Isn't it just. This year Darling has borrowed £69bn up to the end of May, if that continues it will reach 14% of GDP not the 12% forecast in that chart. :eek:
Last month government spending was £50bn while tax receipts were just £30bn hence the £20bn borrowing, surely Darling is going to have to do something about it.
At this point it doesn't matter which party gets in, we will be in for massive tax rises and public cuts. There is no other way around the matter now because of the mess we have been left in. It's going to turn sour very very quick imo before long
Labour must know that on their current trajectory they haven't a prayer of winning the 2010 GE. If they destroy UK Plc, as they have every time in power, then they could create an artificial pre-election upturn to hold on or alternatively hand over a bankrupt nation and some horrific decision making to the Tories. Both devasting scenarios are acceptable to Labour it seems.
The generations that have already suffered at the hands of Labour's house price bubble, pensions bust and education fees, are facing an even greater blow to their standard of living thanks to the incompetence and lies of this administration :mad:
Summed up nicely. Someone else will have to sort out the Labour mess. Brown can promise anything he likes he will not be in the position to honour it or implement it.
What gets me is like before, because people tend to be fickle with politics, they will only remember the taxes and cuts the Tories make to clean up Labours mess! As such it won't be long before people vote Labour back in and the whole cycle starts again
Why don't you listen?
It's investment, not spending.
It's the same bloody thing! It still has to be paid back and as proved by the carbon capture plant investment, cost up to £6 billion, net benefit £4 billion! The government haven't got a great track record when it comes to "investment" and targets, frankly they are shocking at it!
It's even worse not only is there the large accumulated debt to service. He is also spending far more then he is raising in taxes so rather then the debt being servised its increasing.
The New must refer to their nasty authoritarian laws like ID cards, detention without trial for weeks on end and trial without a jury,