Mervyn King: UK can't afford any more stimulus plans

benood

Rochdale_Pioneers wrote: »

I just find it ironic that they keep claiming they are supported by the likes of Merkel who this week said no further stimuli. She says no more having already spent far more than we have. She hasn't at any point copied Cameron's position and proposed not to spend any money.

The hot topic is how much to spend - what is needed, in what manner is it to be spent, and how much is the magic figure. I don't hear any governments out there saying "no". Cameron's lot are deeply isolated - but it doesn't matter as if they do win the election all the spending will have been done already anyway.

What I would then expect is a miraculous reappraisal of UK government debt. It'll come down in large chunks - far more than they are actually repaying as the "debt mountain bigger than everyone else" they invented gets replaced by the actual debt mountain.

No doubt in 2013 you'll be telling us the only reason the Tories have got the economy straight is because of the fantastic legacy left them by Gordon & co, isn't politics so edifying.