Friday, Sep 17, 2010
Not what the markets want to hear
The Telegraph: The Coalition is spending even more than tax-and-waste Labour
Given the scale of opposition to the Chancellor's surgery, even though he has not yet released the full details, a curious bystander might be forgiven for thinking that many billions are going to disappear from the bottom line of state expenditure. Like one of Todd's victims, the final bill for taxpayers is about to be dismembered in a grisly fashion.
This is what happens when the state is shrunk, right? Er, not quite. In fact, not at all. In terms of cash flowing out of the Treasury's coffers, there is no evidence of cutting back. Total government outlay is set to go up this year, next year and every year thereafter to 2014-15.
Posted by devo @ 06:30 AM (454 views) Add Comment
3 Comments
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1. sibley's b'stard child said...
A rather misleading headline, I thought; how about:
'Coalition cuts not deep enough for Labour's profligacy'
2. mark wadsworth said...
Does this surprise anybody? Although the Tories want to partially reverse Labour's policy of spending more and more on public sector wages/pensions (and yes, at least a third of them are NOT frontline in any way shape or form), the Tories will merrily continue Labour's pollicy of spending more and more on 'private sector procurement', currently running at £1.66 for every £1 spent on public sector wages/pensions.
Or to put it another way, not only does the state employ one in five workers directly, private sector procurement is another one fifth of GDP on top of that. Or put it another way, for every public sector worker there are 'overheads' of about £40,000. And so on.
3. nomad said...
sbc@1. Exactly right. If you read the article it's about Labour profligacy and the resulting loan interest that will continue to drag us down for years to come. The coalition must cut and squeeze - until the pips squeak. And then?
I watched the candidates for the Labour leadership on Question Time last night. All, except Diane Abbott, professional politicians trying to say something different so they stand out - but failing. Not a sensible comment in the hour. I wonder if DM will win it, perhaps he will get his private jet then. And Andy Burnham goes a little heavy on the mascara don't you think? Sorry, drifting.