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

posh*spice

Wookster wrote: »

Perhaps they ought to do maths before they come up with absurd comments.

StevieJ wrote: »

I think they probably did their maths:)

The electorate will do the math.

The Tories promised to cut the debt but will end this parliament with borrowing £64bn higher than originally hoped, a gap that must be plugged either with further spending cuts and/or tax rises in the next parliament. You do the math. I'm guessing that this is obviously not an election-winning formula.

Thrugelmir

posh*spice wrote: »

The electorate will do the math.

The Tories promised to cut the debt but will end this parliament with borrowing £64bn higher than originally hoped,

The deficit will have been cut.

There was always a hole of £40 billion minimum in the forecast (2010 figures).

I_Wanna_Retire_Someday

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.

After two and a half years of stagnation is it too much to ask that our government have a plan for jobs and growth to kick-start this flatlining economy?????

I_Wanna_Retire_Someday

Wookster wrote: »

They are borrowing MORE than Labour proposed, and yet Labour is still saying they are cutting too far too fast.

I think Labour would say "by choking off the recovery the Chancellor is now borrowing billions more than he planned as the costs of economic failure mount"

homelessskilledworker

posh*spice wrote: »

The electorate will do the math.

The Tories promised to cut the debt but will end this parliament with borrowing £64bn higher than originally hoped, a gap that must be plugged either with further spending cuts and/or tax rises in the next parliament. You do the math. I'm guessing that this is obviously not an election-winning formula.

I do partly agree with you posh, but if you think Labour will in any way save us you are terribly deluded.

All parties now would have to make cuts, thats a given. If we are going to borrow for growth then we should be building infrastucture, my choice would be houses, and lots of them.

If anything the Tories are not pushing austerity nowhere near hard enough, and they are hitting the poorest the hardest with the austerity cuts they are making. What we should be doing is stop molly coddling those with high unsustainable debt and somehow taking back from those who made a mint in Gordon Browns era, which now turns out to of been a illusionary false golden economy, how you would do that I have no idea.

Everything right now is on hold because of muppets who borrowed money they are struggling to pay back.

I_Wanna_Retire_Someday

homelessskilledworker wrote: »

I do partly agree with you posh, but if you think Labour will in any way save us you are terribly deluded.

All parties now would have to make cuts, thats a given.

Why would people vote Tory again? We have zero growth and increasing debt - who will vote for that?

Who says the Labour Party couldn't get the economy growing again?

Thrugelmir

I_Wanna_Retire_Someday wrote: »

Who says the Labour Party couldn't get the economy growing again?

That magical word yet again. Growth.

But how?

homelessskilledworker

I_Wanna_Retire_Someday wrote: »

Why would people vote Tory again? We have zero growth and increasing debt - who will vote for that?

Who says the Labour Party couldn't get the economy growing again?

What can I say, if you honestly believe that Labour gave us an economical golden era then fair enough, I don't think me or anyone else is going to change your mind set.

And it is because I don't think that era was anything but maxing out on debt is the same reason I don't believe in todays house prices which would of been consistant had the growth we had under Brown been real.

We had a major drop in GDP post 2007, and it has been flat ever since(forget all this tripple dip nonsense), half that period was under Labour the other half under the new Government.

I honestly can not see any real helpful growth until the 20's in the UK, unless that is we unleash the zombie scenario that some politicians and economists are now talking about.

And here is another teaser for you, I think we would be getting growth now had we not cut interest rates to as low as they are, higher rates would have saved this economy.:)

And the arument I would use is the same you are using, where has the growth come from now that we have printed £375 Billion and cut rates to 0.5%.

I_Wanna_Retire_Someday

Thrugelmir wrote: »

That magical word yet again. Growth.

But how?

Tax cuts....capital spending....invest in R & D...helping people set up small businesses....tax breaks on exports...forgive some student loans...tax breaks for foreign firms that invest in the UK..the usual stuff...

oh, and pray for a recovery in the Eurozone..and lower commodity prices...

PaulF81

Better than giving it losers to blow on lager and ciggys if you ask me.