wolfie Posted November 16, 2014 Report Share Posted November 16, 2014 The national debt reached £1.45tn in September, representing almost 80% of GDP and more than £100bn higher than at the same point last year. Borrowing last month was £11.8bn, £1.6bn higher than in September 2013 Tax receipts are down even though employment is supposedly rising In 2013 our trade deficit was £32bn and it is more than likely to be higher in 2014. It seems clear that the Austerity programme to reduce expenditure, mainly by hitting welfare payments is not working. So just like the last Labour government are the Tories secretly hoping that they lose the next election? Quote Link to comment Share on other sites More sharing options...
P J Posted November 16, 2014 Report Share Posted November 16, 2014 They never won the last one and probably won't win the next one but I agree, its a good one to lose as the crap is backing up. Quote Link to comment Share on other sites More sharing options...
Eagle Posted November 16, 2014 Report Share Posted November 16, 2014 When times are bad, due to failures by consecutive governments, it is better to be in opposition. Blaming rather than taking the blame. Quote Link to comment Share on other sites More sharing options...
observer Posted November 17, 2014 Report Share Posted November 17, 2014 The money is out there, 10% of the population own 80% of it; but no one is prepared to rake it in. ( CH4 8pm tonight) Quote Link to comment Share on other sites More sharing options...
Freeborn John Posted November 17, 2014 Report Share Posted November 17, 2014 Call-me-Dave is now predicting a new recession, that should get the Tories a nice break from power until 2020, when no doubt they'll be back rested and refreshed. Quote Link to comment Share on other sites More sharing options...
observer Posted November 17, 2014 Report Share Posted November 17, 2014 Ready to rake in the money from the 90% to give to the 10% again, and pay off the borrowing debt left by Labour ! Quote Link to comment Share on other sites More sharing options...
wolfie Posted November 18, 2014 Author Report Share Posted November 18, 2014 With a new recession looming It will be interesting to see if Cameron and the Tory media blame this one on Labour. Quote Link to comment Share on other sites More sharing options...
observer Posted November 18, 2014 Report Share Posted November 18, 2014 Unfortunately for Dave, Ed spotted this one at PMQs: Seems recessions are caused by Government (when they are Labour) and by the Global economy (when the Gov is Tory) ! Quote Link to comment Share on other sites More sharing options...
Steve Parish Posted November 26, 2014 Report Share Posted November 26, 2014 The national debt reached £1.45tn in September, representing almost 80% of GDP and more than £100bn higher than at the same point last year. Borrowing last month was £11.8bn, £1.6bn higher than in September 2013 Tax receipts are down even though employment is supposedly rising In 2013 our trade deficit was £32bn and it is more than likely to be higher in 2014. It seems clear that the Austerity programme to reduce expenditure, mainly by hitting welfare payments is not working. So just like the last Labour government are the Tories secretly hoping that they lose the next election? Simple, really. Taking money from the poor to give to the rich is bad for the economy. Everything the poor get goes into the economy, while the rich hoard it (or buy luxury goods from overseas, or spend it overseas). Extracts from "The Culture of Contentment", John Kenneth Galbraith, First Published 1992 ISBN 0-395-57228-2 (after Reaganomics and Thatcher's trust in Milton Friedman's theories) "The long years of high budget deficits when they were not needed made it seemingly impossible to initiate stimulating public expenditures when they were now needed. The celebrated tax reductions for the upper-income brackets and the accompanying economies in welfare distribution had substituted the discretionary spending of the rich for the wholly reliable spending of the poor. A reasonably equitable distribution of income is thought by individuals of liberal disposition to be politically virtuous; in fact, it is economically highly functional." Quote Link to comment Share on other sites More sharing options...
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