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bogbrush

Cut Deficit, Or Cut Rate Of Growth Of Deficit?

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http://news.bbc.co.uk/1/hi/uk_politics/8240461.stm

The headline to this article appears to imply a government plan to cut the deficit from the c£700bn we have now to about £350bn. That's what "The government has said it aims to halve the UK's spending deficit over the next four years." means to me.

What I suspect it really means is that the government plan is to slow down the rate at which deficit grows, so that it takes a little longer to disappear into a black hole of debt. This is certainly obscured by the comment;

He said economic stimulus measures would continue next year but the focus would switch to paying off the debt.

That statement does sound very clearly to me like a plan for a Public Sector Debt Repayment.

So which is it? Is there truly a PSDR plan? Does someone have a plan to run the state at a greater surplus than anyone has ever thought imaginable for, just when the thing is plainly bust? I doubt it very much, in which case why is the line being put out to sound like that when in fact it is more likely an aspiration to have a rate of debt growth bigger than at any time in our history, apart from the last 12 months? Doesn't sound quite so aspirational put like that.

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It's talking about halving the rate of increase of the debt.

No way the whole public debt will be halved in 4 years, especially under Liebour.

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