Deficit Higher If Northern Rock Removed

GhIFA

DecentLivingWage wrote: »

When the figures are announced and claims made, then it needs to be honest,represented honestly in the media and open to debate and questioning. Canny Voters are much more wised up on social media these days and sneakiness and dishonesty will result in lack of trust in the gov in the end!

Very true - so why not actually answer the questions raised by Generali in post #5 as part of that debate?

DecentLivingWage

hmmmmn... 400 years to pay off the debt at this rate - worst of that is, we can't pay it down without growth. If we had that, it wouldnt look so bad...

Generali

DecentLivingWage wrote: »

hmmmmn... 400 years to pay off the debt at this rate - worst of that is, we can't pay it down without growth. If we had that, it wouldnt look so bad...

Well indeed and that depends on how you account for the P&L of things like state owned companies and the SLS.

What do you think DLW? How would you account for those things?

Thrugelmir

Originally Posted by DecentLivingWage
hmmmmn... 400 years to pay off the debt at this rate - worst of that is, we can't pay it down without growth. If we had that, it wouldnt look so bad...

Growth alone isn't going to be enough. Thought that you would have realised that by now. The budget forecast actually go many years ahead.

Think of the UK economy as the balsa wood Kon Tiki crossing the Pacific Ocean. The current and prevailing wind will do send is the ship in a given direction. All the helmsman can do is steer round the obstacles. Hoping that one day land will be reached safely.

DecentLivingWage

Chancellor making no progress on deficit reduction :

'when the effects of the transfer of the Royal Mail pension plan and the Bank of England's asset purchase facility fund to the government are removed, the first estimate of net borrowing in 2012/13 is similar to last year's £120 billion.

This suggests the chancellor's programme of harsh spending cuts is making no progress in reducing the deficit.'

(politics.co.uk)

HAMISH_MCTAVISH

DecentLivingWage wrote: »

the first estimate of net borrowing in 2012/13 is similar to last year's £120 billion.

This suggests the chancellor's programme of harsh spending cuts is making no progress in reducing the deficit.'

Well of course it isn't.

Expecting to be able to cut your way out of a recession is pure fantasyland stuff, numptynomics at it's finest.

Significant growth is required if we are to bring down the deficit in any meaningful way.

If the Tories do not reverse course and engineer strong growth through borrowing to invest, they'll be out of power for another generation.

And the thought of Labour in power again is absolutely dreadful.

DecentLivingWage

Well .as some would say the old saying goes 'Money makes Money!' Is Osborne like that strange man in the bible who is the only one who buries his talent coin under the soil to 'keep it safe?' insyead of making more with it.Even the guy who invested his (and lost!) gets better treatment from the writer, than the 'play safe and dont get in trouble but don't make anything either guy!'

mystic_trev

DecentLivingWage wrote: »

Well .as some would say the old saying goes 'Money makes Money!' Is Osborne like that strange man in the bible who is the only one who buries his talent coin under the soil to 'keep it safe?' insyead of making more with it.Even the guy who invested his (and lost!) gets better treatment from the writer, than the 'play safe and dont get in trouble but don't make anything either guy!'

It sounds like you've been mixing drugs with alcohol.

Thrugelmir

Originally Posted by DecentLivingWage
Well .as some would say the old saying goes 'Money makes Money!'

Osborne has no money to play with.

Only a BTL investor is foolish enough to keep on leveraging up with more debt.

DecentLivingWage

'We all hoped he knew what he was doing, but if not...... ?'

(Jeremy Paxman tonight NewsNight)