Official GDP forecasts to be slashed in UK Budget

ad9898_3

Graham_Devon wrote: »

Debt at 79% of GDP in 2013!!!!

And thats the government forecast.

Holy !!!!!!!

We are in big trouble, I expect the government to be going for an IMF bailout in 2010-2011, and when/if they do, the IMF will force IR's to be raised, the Spring bounce will be nothing but a wistful memory by then.

Lets not dress this up, the debt and borrowing as a percentage of the GDP forecast (which the government are certainly going to be overestimating), is truely shocking, does anyone seriously think the worst is behind us ?, it almost certainly isn't according to this news, and don't forget this is by the government, who are bound to be optimistic.

lostinrates

ruggedtoast wrote: »

Arent you meant to be in the other thread?

Yes....I was in the other thread....it does that to me sometimes here I've removed and posted in other thread now.:D

Graham_Devon

Rochdale_Pioneers wrote: »

The point is that despite being a bit wobbly they've managed a public debt higher than our forecasted summit and have done so for years. Greece even more so 20% of GDP above Italy. If Greece can manage I'm sure that we can.

Anyway, doesn't this just prove the point that having entered the recession in less debt than many of our competitors (not MORE as claimed ad nauseum by the Tories) we will exit the recession still in less debt?

Yer, they have maintained it without an NHS, and a MASSIVE welfare system.

Stop looking passed everything, please!!

SingleSue

lostinrates wrote: »

Yes....I was in the other thread....it does that to me sometimes here I've removed and posted in other thread now.:D

Happened to me too yesterday.

Graham_Devon

Oh well I feel better now. Gordon is smirking away as usual to Cameron's response.

Was quite amusing though. Cameron stated to do what they have proposed, they wouldnt need a U shaped economy, they'd need a trampoline shaped one

inspector_monkfish

Cameron's giving Darling hell :beer::rotfl::rotfl::rotfl:

Rochdale_Pioneers

What was the rate of growth following the 1990 and 1980 recessions? I think it rebounded pretty fast once we wet back into growth - anyone got the numbers?

lostinrates

Graham_Devon wrote: »

Yer, they have maintained it without an NHS, and a MASSIVE welfare system.

Stop looking passed everything, please!!

Actually, they do have an amzing emergency service free of charge, and they do have final salary pensions.

State provision of things like old people's homes is truely terrible, though, and there is a very small social services. Interfering in people lives is not encourged. A doctor friend of mine (not Italian) struggled immensley with the pressure NOT to report suspected domestics/child abuse.

Poverty though, is very much more obvious, and middle income is less shiny and new.
They also have a great tradition of supporting home grown indusry and products, and effectively, could still cope if they shut themselves off from everyone else.

michaels

Good, Darling has shut up. In the near future the details will be published and we will all find out how much more tax we will actually be paying through allowances, NI etc wheezes.

Remember the 10% tax band fiasco a couple of years ago. GB announced a cut in basic rate and sat down to applause and Tory discomfort - it actually took until the measures were introduced for the press to stop licking a** and cotton on to the fact that low earners were much worse off and middle earners had only benefited marginally.

ad9898_3

Rochdale_Pioneers wrote: »

What was the rate of growth following the 1990 and 1980 recessions? I think it rebounded pretty fast once we wet back into growth - anyone got the numbers?

This recession is much, much worse than either of those, these kind have a much weaker growth forecast. Darling is in cloud cuckoo land with those forecasts, just like he was in November.