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Generali

According to the FT, George Osbourne is going to announce a projected budget surplus in 2018/2019 rather than 2021 as originally planned.

That may mean that the Conservatives can fight the next election on a platform of tax cuts having tamed the budgetary mess left behind by Labour.

Interesting times.

michaels

And I thought it was going to be a thread about Nigella following in the footsteps of Amy....

This is what I talked about before, politicians treating a cyclical improvement in the PSBR as if it meant that the underlying cyclically adjusted deficit had been fixed

Loughton_Monkey

So now Ballsie will claim he can do it by 2017/18 by.... er.... taxing the bankers' bonuses.....

I mean, they only have to build a lot more schools, a few more hospitals, pay for 20,000 more nurses, free child care, put more policemen on the street, return benefits to full CPI uplifts, and there will still be £billions left over to pay off the debt quicker....

Interesting, but a bit of a nightmare I think....

CLAPTON

no, george and dave are saying that there will be a surplus that will be used to reduce the debt

no tax cuts

repair the roof while the sun is shining

Thrugelmir

Expect more cuts for Government departments in the Autumn statement tomorrow then.

With a neutral tax budget.

Loughton_Monkey

CLAPTON wrote: »

no, george and dave are saying that there will be a surplus that will be used to reduce the debt

no tax cuts

repair the roof while the sun is shining

Repair?

I thought it blew off in 2008!

Masomnia

I find the no tax cuts a bit hard to believe. I think it's expectation management.

When the finances are better than expected in 18 months time there will be some kind of sweetener imho.

Thrugelmir

Masomnia wrote: »

I find the no tax cuts a bit hard to believe. I think it's expectation management.

When the finances are better than expected in 18 months time there will be some kind of sweetener imho.

There's still a £100 billion plus deficit to resolve. Along with a growing debt pile to repay and service.

The next stages in finding "savings" will be far more difficult. No doubt the unions will be chumping at the bit. As further public sector pay freezes/caps cannot be out of the question.

Unwinding Brown's public sector employment explosion will take time and be expensive. Civil servants for example receive a months salary for every year of service up to 12 years as a minimum. So the unemployables are happy to sit tight and bide their time.

grizzly1911

CLAPTON wrote: »

no, george and dave are saying that there will be a surplus that will be used to reduce the debt

no tax cuts

repair the roof while the sun is shining

It will never be repaired next the windows will go.

It will just be how much they can arrest the decay.

CLAPTON

grizzly1911 wrote: »

It will never be repaired next the windows will go.

It will just be how much they can arrest the decay.

I'm not sure what you are saying;

I consider it is perfectly feasible that we will get richer and enjoy a good life.

the_flying_pig

is this an autumn statement thread?

CGT on o'seas property 'investors' is win-win.