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**Hugh** · 29-10-2010, 13:03

Each journey begins with a single step.

If we don't get the structural deficit under control, the interest rates on the national debt will be higher, thus accumulating more debt (and our debt interest bill is £2.3 billion per month at the moment) - this view is supported by some august and influential financial bodies such as the IMF, most of the City of London, and the International Credit Ratings Agencies.

One small, but very important, fact - Although public spending will be £43 billion higher in 2014/15 than it is this year, it will £30bn lower than planned by Alistair Darling. George Osborne is aiming to cut Labour's planned increases in spending rather than initiating actual absolute cuts in the public spending totals to be totally accurate.

btw, you do know that the forecast total for public borrowing of £167 billion for 2009/10 mentioned in the Labour Government March Budget was in fact more than every single Labour government had hitherto borrowed in history, so I don't think continuing in that vein was sustainable, do you?

29-10-2010, 13:03	#118
Hugh laeva recumbens anguis Cable Forum Mod Join Date: Jun 2006 Age: 69 Services: Premiere Collection Posts: 44,386	Re: The Comprehensive Spending Review Thread Each journey begins with a single step. If we don't get the structural deficit under control, the interest rates on the national debt will be higher, thus accumulating more debt (and our debt interest bill is £2.3 billion per month at the moment) - this view is supported by some august and influential financial bodies such as the IMF, most of the City of London, and the International Credit Ratings Agencies. One small, but very important, fact - Although public spending will be £43 billion higher in 2014/15 than it is this year, it will £30bn lower than planned by Alistair Darling. George Osborne is aiming to cut Labour's planned increases in spending rather than initiating actual absolute cuts in the public spending totals to be totally accurate. btw, you do know that the forecast total for public borrowing of £167 billion for 2009/10 mentioned in the Labour Government March Budget was in fact more than every single Labour government had hitherto borrowed in history, so I don't think continuing in that vein was sustainable, do you? __________________ Thank you for calling the Abyss. If you have called to scream, please press 1 to be transferred to the Void, or press 2 to begin your stare. If my post is in bold and this colour, it's a Moderator Request.