GDP collapses

westernpromise

Indeed - we are like a submarine that was diving out of control at 100 feet a minute, was at 500 feet, and will implode at 1,000 feet. All we've been doing since 2010 is levelling off so that we will soon no longer be diving and just escape sinking to or past 1,000 feet. It will be decades before we are back at the surface.

The irresponsibility and cynicism of Labour shills in objecting to and blaming others for the consequences of their appalling, chaotic misrule is repellent.

Filo25

corf999 wrote: »

Did we really have Austerity? We are still spending more than we earn. We are still not in a sustainable position thanks to the mess that Gordon Brown left with a yearly overspend of £100b+

Compared to the US we certainly had austerity!

It was basically impossible to cut spending much quicker without crashing the economy

Thrugelmir

corf999 wrote: »

Did we really have Austerity?

Still ongoing. As the annual reduction in Government borrowing demonstrates. Squeeze on living standards as pay increases are exceeded by inflation. Only after the event will people actually realise.

GreatApe

Thrugelmir wrote: »

Still ongoing. As the annual reduction in Government borrowing demonstrates. Squeeze on living standards as pay increases are exceeded by inflation. Only after the event will people actually realise.

If the secret to wealth and wellbeing was as simple as the government spending more and more money wouldn't every nation be rich and prosperous?

How can it be that the easy option is the right option. If it were that easy it would be ...easy

The way to become a rich productive nation is to have free market capitalism with the government directly controlling no more than 20% of the workforce. This is what we have and this is the reason we are a country with high wages full employment and lots of freedom and opportunity.

Those people who constantly cry austerity are stupid and should be called out for it. They were crying the same thing five years ago when government deficit was twice as high. So by their logic even if the government spent £40 billion more than it is that would still be austerity. The truth is the cry babies just use the word interchangeable with Tories. They have no understand of the current deficit or government spending and they have no understanding of how much it should go up by nor so they care. Whenever you hear anti austerity propaganda coming out of someone's mouth just assume they are dimwits and move on stop wasting your time.

If they are willing to explain and document what current government spending is and how and why it should go up I will listen. The 999/1000 who just cry Tory austerity are dimwits. I wonder which camp you fall in?

Thrugelmir

GreatApe wrote: »

If the secret to wealth and wellbeing was as simple as the government spending more and more money wouldn't every nation be rich and prosperous?

The Government plays an important part in redistributing wealth and investing in capital projects. Which by their very nature should aid wealth creation. Like a Company investing in a new state of the art of the factory. The setup is funded with borrowed money with a pay back in the years to follow.

What gets forgotten is the lack of basic financial control in which much of the money gets spent or used. Accountability is somewhat lacking in the broader sense of the public sector.

GreatApe

Thrugelmir wrote: »

The Government plays an important part in redistributing wealth and investing in capital projects. Which by their very nature should aid wealth creation. Like a Company investing in a new state of the art of the factory. The setup is funded with borrowed money with a pay back in the years to follow.

What gets forgotten is the lack of basic financial control in which much of the money gets spent or used. Accountability is somewhat lacking in the broader sense of the public sector.

The important part is creating wealth redistributing it is easy. If you don't think so give me your bank detail I can show you how easy distribution is.

And I don't want to get into a general discussion about the role of government. People who cry austerity need to explain how many billions more are needed for it not to be austerity and where that will be spent and also an explanation of how many people it will require and which industries those people will have to leave to work for the new expanded state.

[Deleted User]

Fella wrote: »

8 years of trying to spend something a little closer to what we actually have to spend you mean? Yeah sounds like a terrible idea.

Last time I looked MoneySavingExpert didn't recommend wildly overspending until you're massively in debt you can't afford to pay back.

The tories have created more debt in 8 years than labour did in 13 years, or doesn't that suit your argument?

westernpromise

Don't be so innumerate. It's basically dishonest, as you know perfectly well.

GreatApe

venison wrote: »

The tories have created more debt in 8 years than labour did in 13 years, or doesn't that suit your argument?

So labor is the party of austerity the austerity crew will be surprised to hear that and change to supporting the Tories :rotfl:

Moby

venison wrote: »

The tories have created more debt in 8 years than labour did in 13 years, or doesn't that suit your argument?

Historically you are right:-
http://www.taxresearch.org.uk/Blog/2016/03/13/the-conservatives-have-been-the-biggest-borrowers-over-the-last-70-years/