Quote:
Originally Posted by Mr Angry
More financial chaos.
"The Government will have to borrow as much as £75bn more than it intended over the next five years, delivering a damaging blow to Chancellor George Osborne’s hopes of claiming that the Government has the country’s deficit under control.
In Mr Osborne’s last Autumn Statement this Wednesday before the general election, his attempts to boast of the Conservatives’ economic record are set to be over-shadowed by new, bleak fiscal forecasts from the Office of Budget Responsibility (OBR). Collapsing revenues from oil sales, stamp duty and income tax mean the Chancellor will be forced to admit his plans to bring the deficit down could be knocked off track."
Indy |
Here's what happens when you deal with a demand-side shock through supply-side economics based on dogma.
The stamp duty revenue fall also explains why some attempts to inflate a housing bubble were made. Oil is outside UK control, income tax is within control but requires a set of policies somewhat to the left of this government.
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Quote:
Originally Posted by denphone
Sadly most of this debt burden will fall on future generations.
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Just as the bill for the investment in the country that hasn't been getting done will.
---------- Post added at 08:04 ---------- Previous post was at 08:04 ----------
Quote:
Originally Posted by papa smurf
if labour get back in it will be spend it like its going out of fashion till its all gone again
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So long as it's in investment not current spending that would be fine.