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UK borrowing £64bn more than forecast, says IFS report
Comments
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So lets see, an extra £65 billion more than their original forecast. What's the problem? That is only an extra £1000 for every man, woman and child in the UK.
The solution is obviously to encourage a rise in house prices (because that is the solution to all economic woes isn't it?)
We can then introduce a windfall tax on homeowners and they can MEW to pay these extra taxes. Everyone's a winner!"When the people fear the government there is tyranny, when the government fears the people there is liberty." - Thomas Jefferson0 -
MacMickster wrote: »So lets see, an extra £65 billion more than their original forecast. What's the problem? That is only an extra £1000 for every man, woman and child in the UK.
The solution is obviously to encourage a rise in house prices (because that is the solution to all economic woes isn't it?)
We can then introduce a windfall tax on homeowners and they can MEW to pay these extra taxes. Everyone's a winner!
Would that be an annual MEWing?
A bit lemmingesque.
Wouldn't it be easier and quicker just to add few noughts on at the BOE?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
The importance of this news shouldn't be detracted by party political fighting, in my view, although I am too guilty of bringing it down a level with the money tree stuff.
Listening to the radio tonight, it was stated that as we haven't cut anything in terms of total expenditure, only increased it, hence the extra £64bn. All the cuts are now postponed until the next parliament, we could see crippling cuts ahead as the need for cuting expenditure and increasing taxes becomes greater the longer we postpone things. The IFS said we have to cut in order to be able to afford what we are doing, there is no other way.
The coalition have simply carried out what labour were doing pretty much, delaying cuts and tax increases until another time. Labour, if they get in next time round will do exactly the same thing, blaming the coalition for the current books and stating regardless of what they said, the coalition have left little choice but to carry on.
Thing is, pressure is mounting. We are going to have to do somehting at some point, and if we don't do something now, we'll have to do what we should be doing now at a later point, but under much harsher conditons.0 -
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Or the Tory model of tanking the economy whilst building up massive debts - but hey ho it doesn't matter 'cos "when I get voted out of office I can go and live on my trust fund and use my backbencher salary as pin money for the wife"
There is nothing you have to offer to any debate. Putting you on ignore along with the likes of DLW and bertie and THW.0 -
Google "What is economic growth?" (I wish GO & Cameron would do the same)
Did Mr Brown when he increased public sector employment by 500,000 in 10 years? As doesn't seem to meet the definition either.
.Economic growth has traditionally been attributed to the accumulation of human and physical capital, and increased productivity arising from technological innovation. Economic growth was also the result of developing new products and services, which have been described as "demand creating".
I've stressed the important part.0 -
Did I say it did?
Are you suggesting that we don't need any welfare spending?
Yep. Apart from things like this.
http://www.dailymail.co.uk/news/article-2274429/Injured-troops-receive-7-000-year-life-spare-extra-medical-tests-welfare-reforms.html0 -
Without wishing to sound harsh, could Eurozone woes work to our benefit?
There are still bright entrepreneurial types struggling over on the continent. French taxation policy doesn't exactly encourage them to stay.
We need to position our economy (somehow) so that we appear as a stable trading partner in touch with the Eurozone, but not completely destabilised by events over there.
Bickering about Labour did this , Tories did that, isn't really going to cut it. Neither set have covered themselves in glory so far.0 -
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