Times on budget - big spending plans would follow election.

tomstickland

http://www.timesonline.co.uk/tol/news/politics/article6122761.ece

ALISTAIR DARLING, the chancellor, will this week unveil plans to slash public spending to close the £175 billion budget deficit, but the big squeeze will come only after the next election.

Rochdale_Pioneers

"Meanwhile, George Osborne, the shadow chancellor, acknowledged for the first time that the “green shoots” of recovery were now in sight. It follows a week in which leading economists forecast that the worst of the recession was over."

Interesting. Osborne accepts that the government's policies have actually had an impact. And with the Tories desperate for the recession to continue thats not good news for them...

ad9898_3

Rochdale_Pioneers wrote: »

"Meanwhile, George Osborne, the shadow chancellor, acknowledged for the first time that the “green shoots” of recovery were now in sight. It follows a week in which leading economists forecast that the worst of the recession was over."

Interesting. Osborne accepts that the government's policies have actually had an impact. And with the Tories desperate for the recession to continue thats not good news for them...

So, after the last 18 months, we are starting to see 'green shoots' after a week of headlines, mmmm, lets see where we are in 3 months, after 3 months more of unemployment rises, more house price falls, (think we will get 3 month rises from all the indexes ,:rotfl:).

I believe that any green shoots will be trampled, then grow, then be trampled and grow again etc..., it's called a 'cycle' a 'V' shaped curve will never happen. This market is giving everyone, one last chance to lose money.

Geoffo_M

Rochdale_Pioneers wrote: »

Interesting. Osborne accepts that the government's policies have actually had an impact. And with the Tories desperate for the recession to continue thats not good news for them...

Agreed - the very last thing we need is another (New) Labour government

StevieJ

The Treasury yesterday refused to rule out hitting the better-off by removing the higher-rate tax relief on pension contributions, even though analysts warned that this would undermine a pension system already in crisis.

I think people earning over £100k a year are going to have a stash tucked away when they retire, whatever the tax allowanced for pensions.

lostinrates

Rochdale_Pioneers wrote: »

"Meanwhile, George Osborne, the shadow chancellor, acknowledged for the first time that the “green shoots” of recovery were now in sight. It follows a week in which leading economists forecast that the worst of the recession was over."

Interesting. Osborne accepts that the government's policies have actually had an impact. And with the Tories desperate for the recession to continue thats not good news for them...

Thing is, if its a global problem with a global solution the government's policies are surely only part of the picture of both the fall and the rise of the economy.

nickmason

Rochdale_Pioneers wrote: »

Interesting. Osborne accepts that the government's policies have actually had an impact. And with the Tories desperate for the recession to continue thats not good news for them...

Rochdale - you really should try and understand that Tories want what's best for this country. We might disagree with you on how that looks, or how to get there, but we want a recession no more than you do.

Just as a counter example to your observation, if in 1982 I had written "with Labout desperate for there to be more deaths in the Falklands War", I imagine you'd bave been pretty incensed.

And of course the more you say stuff like the above, the more I have to recognise that the Labour party is still populated by the irrationally tribal or the odious likes of Draper and McBride.

lostinrates

nickmason wrote: »

Rochdale - you really should try and understand that Tories want what's best for this country. We might disagree with you on how that looks, or how to get there, but we want a recession no more than you do.
Just as a counter example to your observation, if in 1982 I had written "with Labout desperate for there to be more deaths in the Falklands War", I imagine you'd bave been pretty incensed.
And of course the more you say stuff like the above, the more I have to recognise that the Labour party is still populated by the irrationally tribal or the odious likes of Draper and McBride.

I agree nick, but I'd just made a less eloquant defence of the majority voters' choice on another thread in here.

Wookster

ad9898 wrote: »

So, after the last 18 months, we are starting to see 'green shoots' after a week of headlines, mmmm, lets see where we are in 3 months, after 3 months more of unemployment rises, more house price falls, (think we will get 3 month rises from all the indexes ,:rotfl:).

I believe that any green shoots will be trampled, then grow, then be trampled and grow again etc..., it's called a 'cycle' a 'V' shaped curve will never happen. This market is giving everyone, one last chance to lose money.

Correctomondo.

We are nowhere near close to recovery. Perhaps the pace of decline is slowing but that doesn't mean that recovery is anywhere close in sight.
(I suspect it is actually that the run down of inventories has been done and production of some commodities will resume).

The US remains deeply in the quagmire and Europe has its own crisis brewing.

Rochdale - I'm afraid you're kidding yourself if you think its only a recession that will bring the Tories to power. People are SICK of Labour's bungling, the arrogance with which they rape the tax payer and the slow, creeping authoritarian state they are bringing to bear on us.

They have been in power too long and have forgot that they are here to serve us rather than to line their pockets.

Edit: The only reason Darling is predicting a recovery is that if he predicts a recovery (and accordingly tax receipts rises) then he can continue to incurr massive deficits and continue to sell them to the bond market.

If he was honest about when this would end he'd have to reign in public spending, not something Labour is good at.

ad9898_3

Wookster wrote: »

Correctomondo.

We are nowhere near close to recovery. Perhaps the pace of decline is slowing but that doesn't mean that recovery is anywhere close in sight.
(I suspect it is actually that the run down of inventories has been done and production of some commodities will resume).

The US remains deeply in the quagmire and Europe has its own crisis brewing.

Rochdale - I'm afraid you're kidding yourself if you think its only a recession that will bring the Tories to power. People are SICK of Labour's bungling, the arrogance with which they rape the tax payer and the slow, creeping authoritarian state they are bringing to bear on us.

They have been in power too long and have forgot that they are here to serve us rather than to line their pockets.

Edit: The only reason Darling is predicting a recovery is that if he predicts a recovery (and accordingly tax receipts rises) then he can continue to incurr massive deficits and continue to sell them to the bond market.

If he was honest about when this would end he'd have to reign in public spending, not something Labour is good at.

Thank god for the Wookie, and some common sense, people here and across at HPC seem to be getting a little concerned, or even turning a little bullish about the concerted effort by the media to talk up the market, of course reality will hit soon enough, for starters, the unemployment figures are out this week, lets see them turn this dog turd into a Michelin star meal.:rolleyes:

Generali

Rochdale_Pioneers wrote: »

"Meanwhile, George Osborne, the shadow chancellor, acknowledged for the first time that the “green shoots” of recovery were now in sight. It follows a week in which leading economists forecast that the worst of the recession was over."

Interesting. Osborne accepts that the government's policies have actually had an impact. And with the Tories desperate for the recession to continue thats not good news for them...

It's worth noting that unemployment typically goes on rising for 3 years after the end of a recession in the UK (my research - easy to replicate from the Govt stats website). Do you think voting matches changes in GDP or unemployment more closely? I have no idea but I have my suspiscions.

I think 'green shoots' is too strong a word for what we're seeing. Credit market indicators are moving from 'very appalling' to 'appalling'. We're miles away from 'normal' and even further from 2005-7.