Quote:
Originally Posted by nomadking
As it varies up and down, it is meaningless to measure things against GDP or National Income.
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It's actually the most important measure. We are rated by our debt to GDP ratio, dependent on GDP, and by the increase or decrease in this ratio.
It would be considered by the financial markets a reduction in our national debt to be running a deficit which is smaller than the level of GDP growth, and hence reducing our overall ratio.
The USA isn't considered bankrupt by credit agencies despite carrying a $17.8 trillion national debt, 7 times ours, thanks to having a GDP 7 times ours.
Doesn't change that deciding to switch measures at the last minute for politically motivated reasons is cynical and deceptive. A bit like a George Osborne budget.
---------- Post added at 13:47 ---------- Previous post was at 13:43 ----------
Quote:
Originally Posted by Sirius
Well slap me with a wet kipper, Liebour complaining that some one has lied  |
From what I can gather even a number of Conservative supporters are describing it as deception. To say it's just Labour viewing this dimly isn't really accurate.
You could hardly call
Fraser Nelson of The Spectator Labour.
Still if we're going to talk about ratios throughout let's discuss GDP per capita and see how the recovery is going based on that most important measure rather than relying on immigration for 'growth'
