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UK borrowing £64bn more than forecast, says IFS report
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Better than giving it losers to blow on lager and ciggys if you ask me.
Or at least make them work for it."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 -
...boost employment amongst young people...offer incentives for employers to take on local youngsters (eg via lower employer NICs)..... offer better vocational training for the less academically inclined (eg via the apprenticeship system) - the waste of young UK talent almost borders on the criminal
What we need is “the vision thing” – a route map to a future where we haven’t masochistically tied ourselves to the slowest-growing, most sclerotic part of the economic universe for the next 20 years....0 -
Ha Ha Does anyone really believe that slasher george has any Real idea what he's doing in government?
Let's be honest - poison chalice for Labour
What a mess they are going to be left0 -
Ha Ha Does anyone really believe that slasher george has any Real idea what he's doing in government?
Lining up another non job somewhere else?"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 -
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.
You think this goverment can do the math? Arrogance But little
Abilty. Turns out they know diddlysqat0 -
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:)
GDP Q3 2009 to Q3 2010 2.7%
Under coalition 0.9% in 9 qtrs :eek:0 -
I_Wanna_Retire_Someday wrote: »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...
Reducing tax is not the answer. Tax isn't the problem when building business. As majority lose money in early trading years.0 -
poison chalice for Labour
What a mess they are going to be left
It would be funny to watch the millipede taunt the opposition with "cleaning up the mess of failed Tory policies".
No more true than the current taunts from Cameron, of course, but funny.
The reality is that Brown wasn't very good at all as chancellor, Darling was better than expected and handled the crisis well, but Osborne has been surprisingly terrible so far.
Which is unfortunate.
It would have been good to see the Tories actually getting the economy moving.
Instead, they've made it worse.“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 -
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Graham_Devon wrote: »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.
The IFS' view is the same as in the Great Depression, but it wasn't austerity that ended that depression. It didn't end until governments started spending, on huge capital works/infrastructure projects. This time is no different. If private businesses either can't or won't invest (including banks) the government has to step in and invest instead.0
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