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Osborne to resume stimulus if economic recovery falters
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.telegraph.co.uk/finance/economics/7901248/Budget-increase-risk-of-double-dip-recession.htmlThe committee, which has a Conservative majority, suggested that the outlook may be bleaker and the economy could actually shrink again. Two quarters of negative growth would constitute a return to full-blown recession.
“It appears that there has been a slight increase in the chance of near-term negative growth and an increased likelihood of positive growth in the outer years,” the MPs found.
In the event that the economic recovery falters, the committee said it expected the Chancellor to postpone his deficit-cutting plans and pour more money into the economy, even if that requires more borrowing.
“The global economic situation is fluid and fragile, and it is possible that the Chancellor may need to alter his current plans to compensate for external events,” the MPs said.
In evidence to the committee, Mr Osborne said that he had built “a degree of caution” into his plans by aiming to balance the budget a year earlier than he believed was strictly necessary.
“We welcome this as a signal that if economic conditions demand it he may be prepared to take measures to stimulate the economy, even if these delay the current plans for cutting the deficit,” the MPs said.
Oh well, Bearmageddon cancelled...:D
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »
Oh well, Bearmageddon cancelled...:D
Certainly is. This is positively bullish.suggested that the outlook may be bleaker and the economy could actually shrink again.
And the possible need for more stimulus. How much more bullish could you possibly get?0 -
The sub headline to the article was...
"The Coalition’s Budget package of spending cuts and tax rises has increased the risk the economy will slip into a double-dip recession, a Conservative-controlled Commons committee has said. "
I guess you missed that bit with your cut and paste Hamish, easy mistake to make.
I will give you credit though for always seeing the silver lining.
Two options for economy.
1. The economy will recover - Hamish says great the bears are crying.
2. The economy will fail - Hamish says great, Osbourne will rescue us, and the bears will be crying.
At least we know there will NEVER EVER be a time when you might see that things are bad, and that is just the sort of British grit that we need to get us out of this crisis. Well done Hamish.0 -
Why thanks, but am genuinely in awe of Hamish. If I were in the trenches and wanted someone to go rushing over the top, or was feeling a bit down during the Blitz then Hamish is exactly the person I would want on my side. Sometimes we all need a bit of mindless optimism.top bombing Exo!!! :T0 -
1. The economy will recover - Hamish says great the bears are crying.
2. The economy will fail - Hamish says great, Osbourne will rescue us, and the bears will be crying.
.
Well, so long as the bears are crying, it's all good really...:D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Why thanks, but am genuinely in awe of Hamish. If I were in the trenches and wanted someone to go rushing over the top, or was feeling a bit down during the Blitz then Hamish is exactly the person I would want on my side. Sometimes we all need a bit of mindless optimism.
I see him more like the guy in the bow-tie
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
HAMISH_MCTAVISH wrote: »http://www.telegraph.co.uk/finance/economics/7901248/Budget-increase-risk-of-double-dip-recession.html
Oh well, Bearmageddon cancelled...:D
I don't agree, if there is another downturn significant enough to make them reverse their cuts and ramp up spending, the borrowing required to make any kind of a difference would be astronomical.
Add that to an already high (ish) national debt along with just about the highest deficit in the world and it will only end one way. And that won't be with :beer:0 -
Procrastinator333 wrote: »I don't agree, if there is another downturn significant enough to make them reverse their cuts and ramp up spending, the borrowing required to make any kind of a difference would be astronomical.
Add that to an already high (ish) national debt along with just about the highest deficit in the world and it will only end one way. And that won't be with :beer:
They will probably be prepared to dust off the printing press though.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
The sub headline to the article was...
"The Coalition’s Budget package of spending cuts and tax rises has increased the risk the economy will slip into a double-dip recession, a Conservative-controlled Commons committee has said. "
I guess you missed that bit with your cut and paste Hamish, easy mistake to make.
I will give you credit though for always seeing the silver lining.
Two options for economy.
1. The economy will recover - Hamish says great the bears are crying.
2. The economy will fail - Hamish says great, Osbourne will rescue us, and the bears will be crying.
At least we know there will NEVER EVER be a time when you might see that things are bad, and that is just the sort of British grit that we need to get us out of this crisis. Well done Hamish.
Hamish sees indicators of house price inflation everywhere.
Economic growth gets him :beer: at the thought of all that lovely extra money that will inevitably find its way into housing.
Economic contraction gets him
-ing at the inevitable 'swingeing' cuts to interest rates & various nuggets of government policicy that will inevitably send house prices 'soaring'.
A bright sunny morning whilst he's on his way to work makes him come over a bit :j at all those young couples who'll take advantage of the good weather to spend their weekend house hunting.
Monsoon conditions make him :T at the thought of, er, all those people who are going to be eager to stop living in [scrabbling around] riverboats or tents and buy themselves some lovely dry bricks'n'mortar instead.
etc.
He's just permanently in a properdee state of mind.FACT.0 -
the_flying_pig wrote: »Hamish sees indicators of house price inflation everywhere.
Economic growth gets him :beer: at the thought of all that lovely extra money that will inevitably find its way into housing.
Economic contraction gets him-ing at the inevitable 'swingeing' cuts to interest rates & various nuggets of government policicy that will inevitably send house prices 'soaring'.
A bright sunny morning whilst he's on his way to work makes him come over a bit :j at all those young couples who'll take advantage of the good weather to spend their weekend house hunting.
Monsoon conditions make him :T at the thought of, er, all those people who are going to be eager to stop living in [scrabbling around] riverboats or tents and buy themselves some lovely dry bricks'n'mortar instead.
etc.
He's just permanently in a properdee state of mind.
I find it quite charming myself. I think it's great that he manages to see the bright side (to him) of every economic news story and indeed just about every story.
I think we should start a competition of the most amazing connection of a news event to rising property prices. You know, unrest in Nepal => higher immigration to the UK => higher house prices and rents in Aberdeen.
1st Prize: A night out with Generali
2nd Prize: 2 nights out with Generali ;-)0
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