Barrs Court Red Posted August 19, 2011 Report Share Posted August 19, 2011 New public finance figures show the Government's deficit reduction plan is working, according to the Treasury. The Office for National Statistics (ONS) said the public sector current budget made a surplus of £1.9bn last month. This compared to borrowing of £1.35bn in July 2010 - analysts had been expecting a surplus of around £500m. The ONS said new taxes on banks and higher corporation taxes boosted the Government's coffers. Link to comment Share on other sites More sharing options...
CiderHider Posted August 19, 2011 Report Share Posted August 19, 2011 Encouraging, although concerning too. I'm worried that in such a short time they can get the figures that wrong. Would also be interested to know what this surplus is Surplus to......? Surplus to their embarrisingly inaccurate projected figures? The constant micro updates are meaning less in reality, God be praised., are we really in the hands of chin scrathcing traders when it comes to our future Beholding to profit? The world markets are one big poker game its such a joke its hard to take life seriously, interesting, profitable somtimes, good for material things? Oh yes. Good for the soul?.... No., absolutly no. Public opinion is the goverments moral compass, bleak as buggery. What a cynical life it is existing to profit, red numbers, blue numbers, purple numbers....ooooh a plus sign, its blue everything is OK as profit has been madem so my life is fulfilled, nowIcan buy plastic from China??? it's coloured too, I like colour and i think others will like colour too. Then its a deal!!! My plastic is so smooth and more importantly people know its the best plastic, ahh christ this is the life! Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted August 19, 2011 Report Share Posted August 19, 2011 Shame about unemployment though, especially youth unemployment 1/5 which is disastrous but hey a price worth paying I guess. Also the cuts haven't fully kicked in yet by any means- will it turn when the mass public sector redundancies start?If said jobs not recreated then consumer spending will drop further, so will tax receipts and dole will increase. Time will tell eh! Link to comment Share on other sites More sharing options...
Stephen Lewis Posted August 22, 2011 Report Share Posted August 22, 2011 We are pawns in a rich mans game, maybe not even pawns , just a bit of dirt on the board. Link to comment Share on other sites More sharing options...
Greedo Posted August 23, 2011 Report Share Posted August 23, 2011 As long as the facts and figures and statistics say it's working then everything's dandy. You can entirely ignore the social mess the country is in because of the cuts as long as the statistics say they are working. Link to comment Share on other sites More sharing options...
Barrs Court Red Posted August 23, 2011 Author Report Share Posted August 23, 2011 What social mess? What's changed in the last 12 months? Link to comment Share on other sites More sharing options...
Greedo Posted August 23, 2011 Report Share Posted August 23, 2011 Five letter word, starts with 'R', Rhymes with 'Diets'. There's 1 thing for you. Link to comment Share on other sites More sharing options...
Barrs Court Red Posted August 23, 2011 Author Report Share Posted August 23, 2011 And who failed to tackle the social deprevation, and indeed expanded the poverty gap???? Those recent riots were nothing to do with cuts. Link to comment Share on other sites More sharing options...
screech Posted August 24, 2011 Report Share Posted August 24, 2011 History repeating itself again. Tories clear up after Labour spend, they get the country back on its feet and then run out of ideas, Labour reinvent themselves again win back power and spend spend spend, country in budget deficit, voters turn to a reinvented Tory party who make unpopular cuts and get country back on it's feet, labour reinvent themselves again and spend spend spend.......... Link to comment Share on other sites More sharing options...
Nibor Posted August 24, 2011 Report Share Posted August 24, 2011 You can entirely ignore the social mess the country is in because of the cuts as long as the statistics say they are working. The cuts haven't even happened yet. In fact, I'll let you into an even bigger secret - there aren't any cuts. Sounds crazy right? I mean you've been hearing about them forever? Yeah, that's the thing, we are talking about cuts in planned spending, not cuts in actual spending. Osborne cut £81bn from planned spending, sounds like loads doesn't it? It's over four years, so it's £20bn a year. That's a lot until you realise our total spending this year is £713bn. So it's less than a 3% cut and remember it's only a cut in planned spending not real, so we're still spending more this year(£713bn) than last(£691bn). Next year we'll spend £731bn and the year after £750b so nothing's actually being reduced other than Labour's ridiculous plans which were nothing more than purest fantasy. We're making all this fuss about spending £20bn a year less than Labour wanted, but what's terrifying is that even with this reduction in plans we're still OVERspending by about £120bn a year - our debt is still increasing at that rate and our interest bill runs at about £50bn a year. The facts are out there folks, you don't have to rely on propaganda. This country is right up the shitter thanks to Gordon and it ain't getting unblocked this decade. Link to comment Share on other sites More sharing options...
Fiale Posted August 24, 2011 Report Share Posted August 24, 2011 Nibor is right. A lot of people also get confused with the fact the government are reducing our deficit not our debt. The countries Debts will continue to rise, only the deficit will be reduced (essentially the difference in income and expenditure). So our debt will continue to rise, but just a little slower than before, and even that may not happen if we do not get some growth in the economy. Link to comment Share on other sites More sharing options...
Economou Posted August 30, 2011 Report Share Posted August 30, 2011 The cuts haven't even happened yet. In fact, I'll let you into an even bigger secret - there aren't any cuts. Sounds crazy right? I mean you've been hearing about them forever? Yeah, that's the thing, we are talking about cuts in planned spending, not cuts in actual spending. Osborne cut £81bn from planned spending, sounds like loads doesn't it? It's over four years, so it's £20bn a year. That's a lot until you realise our total spending this year is £713bn. So it's less than a 3% cut and remember it's only a cut in planned spending not real, so we're still spending more this year(£713bn) than last(£691bn). Next year we'll spend £731bn and the year after £750b so nothing's actually being reduced other than Labour's ridiculous plans which were nothing more than purest fantasy. We're making all this fuss about spending £20bn a year less than Labour wanted, but what's terrifying is that even with this reduction in plans we're still OVERspending by about £120bn a year - our debt is still increasing at that rate and our interest bill runs at about £50bn a year. The facts are out there folks, you don't have to rely on propaganda. This country is right up the shitter thanks to Gordon and it ain't getting unblocked this decade. So if Osborne is cutting planned spending by 20bn that's not a cut, hmmm. Link to comment Share on other sites More sharing options...
Nibor Posted August 30, 2011 Report Share Posted August 30, 2011 So if Osborne is cutting planned spending by 20bn that's not a cut, hmmm. How does spending more next year than we have this year constitute a cut? In any case, £20bn a year is a small drop in a terrifyingly large ocean. Link to comment Share on other sites More sharing options...
Economou Posted August 31, 2011 Report Share Posted August 31, 2011 How does spending more next year than we have this year constitute a cut? In any case, £20bn a year is a small drop in a terrifyingly large ocean. Inflation, currently 4-5% ? If a gov't dep't, for instance the MOD, is told by the treasury that their budget will for next year will not actually increase in line with inflation, that's effectively a cut in my book and presumably why armed forces personnel who have served in Afghanistan are faced with redundancy on returning home. Link to comment Share on other sites More sharing options...
Fiale Posted August 31, 2011 Report Share Posted August 31, 2011 Inflation, currently 4-5% ? If a gov't dep't, for instance the MOD, is told by the treasury that their budget will for next year will not actually increase in line with inflation, that's effectively a cut in my book and presumably why armed forces personnel who have served in Afghanistan are faced with redundancy on returning home. No they are facing redundancy because the Strategic Defence Review has re structured our military and in particular the number of Army infantry troops it requires. You also mention inflation, but spending next year is rising more than inflation. The Government is just pegging the speed of Government expenditure, and this is what people laughingly refer to as cuts. Link to comment Share on other sites More sharing options...
Nibor Posted August 31, 2011 Report Share Posted August 31, 2011 Inflation, currently 4-5% ? If a gov't dep't, for instance the MOD, is told by the treasury that their budget will for next year will not actually increase in line with inflation, that's effectively a cut in my book and presumably why armed forces personnel who have served in Afghanistan are faced with redundancy on returning home. Inflation is driven by government spending to quite a large extent, the government spending more and more is a good way of increasing it. But anyway, spending more isn't a cut, is it? It wouldn't be viewed that way in any business, nor would any business borrow so irresponsibly and stay in business. If you think the banks were irresponsible - they haven't got a patch on the government. As for the army, if you look at defence spending, it was £30bn in 2001, and is now around £46bn. That's an increase of about 4.8% a year over a decade in which inflation was mainly running at 1-2%. Keeping it to the same £46bn a year is not causing any redundancies, it's about how the MoD choose to spend the money. Link to comment Share on other sites More sharing options...
gamon Posted August 31, 2011 Report Share Posted August 31, 2011 We are spending more but that more has less value. The value of the deficit has been decreased in value by around 20% under this government already even though Nibor will tell you the nominal value has increased. It ain't rocket science the government is defaulting on its debt by stealth. Also - The BOE are being run by the government and have deliberatly kept interest rates negative to assist in this policy of driving inflation up but pretending its all "outside" influences. Why do you think VAT went up 5% in 1 year? It wasn't to increase tax receipts..... the BOE are currently looking for a "reason" to conitue with QE. Wait and see it will happen... Do some research, the truth is out there..... Link to comment Share on other sites More sharing options...
CiderHider Posted August 31, 2011 Report Share Posted August 31, 2011 What is the fascination with growth? I hate Gordon Brown so much. Anyone could have been chancellor when he was and done a better job, his mantra of its good for the economy made me sick then and it makes me angry now. Fill the public sector with the unemployable, its good for the economy. Let thousands of unique businesses fail because more profitable company's taking their place is good for the economy. Lets fight unjust wars, good for the economy. Lets open our doors to everyone, fill those shitty jobs, good for the economy. He's the deal, there are about 3billion Asians, most of which live in what we would consider poverty, they want their capitalist society. In today's globalized markets we compete with them per head, and they can do everything and more for a 10th of the cost. This equals disaster for the USA of which there is no retrun, and maybe us unless we can adapt. If we don't... I dare not even think of the consequences We need to come up with some serious new ways of existing, I dont know... there are too many people, its only going to get worse you cant tell people to stop having kids, can you? Does anyone else get a little fed up with having a malnourished half dead baby appear on their TV demanding we pay for it to live? Need to educate so much of this world if we are to get along, we cant let Africa go on like this. I mean JEez, it's the most resource rich continent on the planet, why can't they make it work? and don't give me crap that its too dry/hot. What about Las Vegas? Oh well Africa belongs to China now, well most of its mining rights and minerals do. Link to comment Share on other sites More sharing options...
Monkeh Posted August 31, 2011 Report Share Posted August 31, 2011 hasn't govenment borrowing already raised to record levels under this tory govenment? Link to comment Share on other sites More sharing options...
Nibor Posted August 31, 2011 Report Share Posted August 31, 2011 hasn't govenment borrowing already raised to record levels under this tory govenment? Record levels is meaningless. Whilst we have a deficit, borrowing will always go up. Every year is a record and has been since 1991. Link to comment Share on other sites More sharing options...
Nibor Posted August 31, 2011 Report Share Posted August 31, 2011 We are spending more but that more has less value. The value of the deficit has been decreased in value by around 20% under this government already even though Nibor will tell you the nominal value has increased. Can you explain how that can be the case? Public debt at FY10 was £760bn and at FY11 was £909bn. RPI inflation was around 5% between those dates. Where'd you get the 20% from?! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.