stevebt

iTrader: (8)

I though going off the budget and the way George Osbourne keeps talking about our debt being reduced that it was actually standing still at a worst or slightly reducing due to their so called cuts,

http://www.dailymail.co.uk/news/arti...S-reveals.html

andy97

iTrader: (1)

Borrowing and debt rose rapidly whilst under labour. It was never going to be easy to cut these huge debts and the path is going to be rough for many years ahead

Could be much worse if lab our got in, they would borrow more raise the debt level even further!

paulr

The defecit is down, but the debt keeps rising. Basically the defecit is the difference between what the government spends and the governemt raises. In 2012 the Gov't spent 682 billion, but only raised 592 billion. Therefore it had to borrow 90 billion, which as a debt, was added to the cumulative national debt.

Historically the debt is quite low. Like any debt, its not the number, its the ability to pay it off.

warrenm2

Can we just be clear here, "deficit" means "overspend", we are currently overspending by 120bn per year. So what, this over spend has been cut by about 30bn, we've still got 120bn to go to tread water FFS! Talking about structural deficit, spinning it this way and that is cobblers. Its debt and we have to pay interest on it. Unless this is gripped PDQ, we're screwed. The austerity is a fiction, Gvmt spending is still increasing. Have a watch of this, nearly 3 years old and things have only got worse...

paulr

No. The defecit is being reduced, and thats during a recession. Secondly, our debt repayments are low because we have a good rating. Credit where its due.

ScoobyWon't

Columbia Professor Michael Woodford says government debt can be eliminated from the bloated balance sheet of central banks, with a flick of the fingers. The debt would vanish.

http://www.telegraph.co.uk/finance/c...-reversed.html

Chip

[QUOTE=warrenm2;11047549]Can we just be clear here, "deficit" means "overspend", we are currently overspending by 120bn per year. So what, this over spend has been cut by about 30bn, we've still got 120bn to go to tread water FFS! Talking about structural deficit, spinning it this way and that is cobblers. Its debt and we have to pay interest on it. Unless this is gripped PDQ, we're screwed. The austerity is a fiction, Gvmt spending is still increasing. Have a watch of this, nearly 3 years old and things have only got worse..'s Trillion Pound Horror Story [\QUOTE]

We evidently need more cuts then.

f1_fan

iTrader: (9)

Yep, no more pensions for those that don't need them, no more child benefit... if you can't afford them keep it in your pants, massively reduced befnefits for those seeking work or on disability ... etc. etc.

No one has the ***** to ever bring those sort of cuts and without them or a massive growth economy (not likely under Osborne) we'll be f**ked beyond saving if we aren't already! Glad I haven't got kids as they will have a life of hell if they stay in this sh1thole for the rest of their lives.

warrenm2

The trouble is the scale of the problem. Look at that graph from the ONS again. We owe 90% of our GDP and getting worse. Small reductions in the amount of overspend aint going to cut it. Its rearranging deckchairs on the Titantic. We need major cuts NOW

Leslie

The real answer is to never elect a government which will overborrow in spades in an effort to fool everyone that they are running a fireproof economy!

What a bunch of plonkers the previous bunch were after all. They left Osborne with an unbelievably difficult position to turn around.

Les

Chip

I see over 800,000 have dropped their sickness benefit claims before being assessed with another 300,000 who have been assessed being declared fit for work. Surprised anyone? I'm not.

f1_fan

iTrader: (9)

No, but if I had my way none of them would ever get any benefit again including a pension. This country is full of cheating bent scum!