UK borrowing £64bn more than forecast, says IFS report

mystic_trev

It looks like whoever wins the next Election, things are going to get pretty dire!:mad:

LauraW10

robmatic wrote: »

How does welfare spending bring home the bacon?

Did I say it did?

Are you suggesting that we don't need any welfare spending?

Graham_Devon

LauraW10 wrote: »

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)

let's just vote labour in in the next general election. Labour can then wave it's magic wand while sucking on the teet of the magical money tree's they have planted.

And we'll all live happily ever after.

shortchanged_2

Graham_Devon wrote: »

let's just vote labour in in the next general election. Labour can then wave it's magic wand while sucking on the teet of the magical money tree's they have planted.

And we'll all live happily ever after.

Problem is Graham where are Osbourned plans leading us now?

This man stubbornly refuses to look at alternatives while all the time the UK economy goes nowhere.

If you look at the report from the IFS they are stating that we face years more of austerity through more sepnding cuts and tax rises. Conducive for growth? I don't think so.

Thrugelmir

LauraW10 wrote: »

The problem isn't about spending it's about growth....you are making exactly the same school boy error as the government....

Growth of what?

Growth is a schoolgirl error. As doesn't grow on trees. Nor do fairies at the bottom of the garden create companies or businessess overnight that can export.

Fact. There's been a global banking crisis. The after effects are going to take years to resolve.

The illusion of the boom between 1995-2007 is evapourating fast.

LauraW10

Graham_Devon wrote: »

let's just vote labour in in the next general election. Labour can then wave it's magic wand while sucking on the teet of the magical money tree's they have planted.

And we'll all live happily ever after.

They couldn't do much worse than this bunch.

We have an even bigger pile of debt AND no growth.

ILW

LauraW10 wrote: »

They couldn't do much worse than this bunch.

We have an even bigger pile of debt AND no growth.

This government ROCKS

Labour tend to prefer the Greek model of borrow and spend.

LauraW10

Thrugelmir wrote: »

Growth of what?

Right there. That is the problem.

Google "What is economic growth?" (I wish GO & Cameron would do the same)

dktreesea

Tomcat2000 wrote: »

No surprise there, borrowing is always and has to be always in excess of the debt and interest from the year before. It will always go up until it collapses which is a mathematical certainty.

That's only true in 99% of the cases, i.e. for individuals and corporations who can't make money out of nothing. In the case of the UK, they just need to quantitative ease their way out of the situation. A flick of a pen, and the Bank of England buying the debt (i.e. us selling debt to ourselves), and Bob's your uncle, the spendthrifts are in business again. The pollies might even give themselves a pay rise.

Oh well, as the pound falls, at least it is the wealthy who will be hurting, as their assets dwindle away to peanuts.....Maybe some bankers houses will become affordable for the masses.

LauraW10

ILW wrote: »

Labour tend to prefer the Greek model of borrow and spend.

I think that you are confused??? - that is the current government's aspiration - to bankrupt us all in just 5 short years...

Cameron rebuked by UK Statistics Authority over debt lies

After the PM falsely claimed the coalition "was paying down Britain’s debts", the UK Statistics Authority points out that the national debt has risen by £300bn.

He rightly points out that the national debt has risen from £811.3bn, or 55.3 per cent of GDP, to £1,111.4bn, or 70.7 per cent of GDP, since the coalition entered office.

http://www.newstatesman.com/politics/2013/02/cameron-rebuked-uk-statistics-authority-over-debt-lies