Budget deficit
02 February 2010, 05:34 PM
#1
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Feb 2001
Posts: 1,204
Likes: 0
Received 0 Likes
on
0 Posts
Budget deficit
A weighty topic for NSR for a change.
Are Brown and Darling trying to con us? The projected deficit this year is £172 billion, which Brown claims was necessary to avoid a bigger recession than we suffered anyway. Labour's target is to halve this in 4 years. Liam Byrne last night said on PM that the normal recovery in tax revenues after the recession would only account for £25 billion of that reduction.
Something doesn't add up here. If you discount the reduction in tax revenues because of the recession, Labour were still on target to run a deficit of nearly £150 billion. They can't claim this is one off costs to bail out the banks or mitigate the recession, otherwise they would have no problem reducing the deficit much more than the £86 billion over 4 years they are targeting.
Am I missing something, or has Brown just completely lost control of public spending? Why are the Tories letting him get away with blaming this on the world-wide recession when it is completely a problem of Labour's making?
Are Brown and Darling trying to con us? The projected deficit this year is £172 billion, which Brown claims was necessary to avoid a bigger recession than we suffered anyway. Labour's target is to halve this in 4 years. Liam Byrne last night said on PM that the normal recovery in tax revenues after the recession would only account for £25 billion of that reduction.
Something doesn't add up here. If you discount the reduction in tax revenues because of the recession, Labour were still on target to run a deficit of nearly £150 billion. They can't claim this is one off costs to bail out the banks or mitigate the recession, otherwise they would have no problem reducing the deficit much more than the £86 billion over 4 years they are targeting.
Am I missing something, or has Brown just completely lost control of public spending? Why are the Tories letting him get away with blaming this on the world-wide recession when it is completely a problem of Labour's making?
Thread
Thread Starter
Forum
Replies
Last Post
jonnyboy82
Wheels And Tyres For Sale
8
21 September 2015 10:26 PM