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UK borrowing £64bn more than forecast, says IFS report
posh*spice
Posts: 1,398 Forumite
UK borrowing is likely to be £64bn higher in 2014-15 than forecast, according to a closely watched report.
The Institute for Fiscal Studies (IFS) says that a weaker-than-expected economy will mean the government has to borrow a lot more, unless it imposes tax rises and further spending cuts.
just OMG :eek:
Turn your face to the sun and the shadows fall behind you.
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Comments
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They are borrowing MORE than Labour proposed, and yet Labour is still saying they are cutting too far too fast.
Perhaps they ought to do maths before they come up with absurd comments.0 -
They are borrowing MORE than Labour proposed, and yet Labour is still saying they are cutting too far too fast.
Perhaps they ought to do maths before they come up with absurd comments.
Labour were suggesting that GDP would hold up under their proposals which would contribute to a reduction in deficit, rightly or wrongly. In fact I am pretty sure that they forecast GDP would fall under the original Tory proposals, meaning that Tory deficit reduction targets would be missed. I think they probably did their maths:)'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 -
They are borrowing MORE than Labour proposed, and yet Labour is still saying they are cutting too far too fast.
Perhaps they ought to do maths before they come up with absurd comments.
Excuses excuses - the Coalition forgot about growth. They were careless with consumer, business and investment confidence. They were warned by many economists that austerity doesn't work - that they would end up borrowing more - but would they listen?
So guess what they are going to put us into even more debt - but it's ok I don't expect you (or the Tories) to admit that you were wrong.
They are useless. (And I told you they were)If you keep doing what you've always done - you will keep getting what you've always got.0 -
ah, good job house prices are rising then....0
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Tomcat2000 wrote: »Not absurd, its obvious Labour would spend more than proposed, that is a given these days. Whatever a ploitician says they will spend you can at least double, and whatever they say they will cut you half by the time the numbers come in.
The problem isn't about spending it's about growth....you are making exactly the same school boy error as the government....If you keep doing what you've always done - you will keep getting what you've always got.0 -
The problem isn't about spending it's about growth....you are making exactly the same school boy error as the government....
Labour are saying that growth can only come if the government spends more, presumably on welfare since that's where they keep harping on about cuts. So in their view the two are inextricably linked. Is that a schoolboy error on their part ?No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
This is the reason why the UK economy will continue to be in the doldrums for years to come.
Once the current governement missed (by a long way) their original growth targets it was always going to be a slippery slope from there on.
Now, who knows what the right way out this was but I think we can all agree George Osbournes plans have failed miserably.0 -
GeorgeHowell wrote: »Labour are saying that growth can only come if the government spends more, presumably on welfare since that's where they keep harping on about cuts. So in their view the two are inextricably linked. Is that a schoolboy error on their part ?
Well George it's like this - when you are short of money to pay the bills there is only so much you can cut - after that you just have to get out there and earn more money. It's all about growth and bringing home the bacon.
I guess that most Tories have never had to bring home any bacon (since they were all born with a trust fund) so that's why they just don't get it.If you keep doing what you've always done - you will keep getting what you've always got.0 -
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