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Budget 2013 live....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
In the tradition of the last few years, for those at work or unable to access TV/Radio....
Forecasts from OBR remind us of challenge....
OBR has revised down global forecasts for growth and trade
Forecasts from OBR remind us of challenge....
OBR has revised down global forecasts for growth and trade
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
0
Comments
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Spin about exports to non-EU, but acknowledges EU still major trading partner.
Domestic demand in UK better than expected, but exports 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 -
Growth forecasts 1.8 in 2014 and 2.3 in 2015
Spin regarding employment continuing to rise.
Notes private sector employment continues to outstrip public sector job losses by 6 to 1.
Unemployment lower than when came to office.“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 -
HAMISH_MCTAVISH wrote: »Growth forecasts 1.8 in 2014 and 2.3 in 2015
Spin regarding employment continuing to rise.
Notes private sector employment continues to outstrip public sector job losses by 6 to 1.
Unemployment lower than when came to office.
Impressive, sounds like boom time
'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 -
Likelyhood of meeting debt target has deteriorated
Further cuts to chase debt target would be a mistake, sticking with plan as announced.
Further borrowing is also ruled out.
Proportion of national income spent by state = 43% today, down from 47% a few years ago.“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 -
Pity the behaviour of the house is so bl@@dy awful..
WR0 -
Debt around 85% to GDP for much of the middle and end of the decade. That is dangerously close to the 90% that many academic economists think severely impacts economic growth and is the tipping point to ruin.
Noticeable that Osborne's deficit figures show Britain will have a higher deficit in 2015/6 (at 6%) than Cyprus does this year (at 4.5%)."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
Tough fiscal policy creates space for active monetary policy.
Asset purchase facility to remain in place. Considering extending FFL scheme to boost lending, new business bank.
Updated remit for MPC - 2% remains a target, but new remit tasks MPC with explaining the trade-offs, timing of letters to change.
Also adds remit to use unconventional instruments to influence expectations on future path of interest rates.“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 -
MPC to assess use of intermediate thresholds (presumably unemployment/growth targets) and whether they are used will be an operational concern for MPC.
Chancellor wants new governor of BOE to be more active/flexible“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 -
Govt depts to underspend by 11bn this year.
Public sector pay increase limits to extend by firther year“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 -
If the trade off is between saving jobs and pay restraint we should put jobs first.“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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