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Re: Starmer’s chronicles
Quote:
Originally Posted by OLD BOY
Of course, the austerity years were necessary to enable the country to recover from the deficit created by the previous Labour government. Apologies if that is an inconvenient fact.
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<cough cough>
https://www.ukpublicspending.co.uk/u...ficit_analysis
Quote:
In 2005 the UK “current budget deficit” was less that £20 billion. But then came the worldwide financial crisis of 2008 and subsequent recession. The budget deficit skyrocketed to £50 billion in 2009 and £103 billion in 2010. In the subsequent recovery the deficit has steadily declined, down to £1.9 billion in 2018. At the end of March 2024 the “current budget deficit” was £62.00 billion.
In terms of Gross Domestic Product the UK “current budget deficit” in 2005 was less than 2 percent of GDP, and declined to about 0.6 percent GDP in 2007 and 2008. In the Great Recession the deficit ballooned, to 6.9 percent of GDP in 2010.
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The deficit as % of GDP was reducing until the gambling banks decision to blow up the World’s economies…
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Last edited by Hugh; 09-07-2025 at 18:26.
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