Oliver Sutton Posted September 22, 2015 Share Posted September 22, 2015 http://www.bloomberg.com/news/articles/2015-09-22/u-k-has-highest-august-budget-deficit-since-2012-as-tax-falls Britain had the highest August budget deficit for three years as the tax take from individuals and companies dropped.Spending exceeded revenue by 12.1 billion pounds ($1.5 billion) compared with a deficit of 10.7 billion pounds a year earlier, the Office for National Statistics said in London on Tuesday. Economists in a Bloomberg survey had forecast a 9.2 billion-pound shortfall. Government income fell 0.6 percent and spending climbed 1.6 percent. Quote Link to comment Share on other sites More sharing options...
doomed Posted September 22, 2015 Share Posted September 22, 2015 How long can they keep up the pretence of austerity under our ridiculous debt based monetary system. We can't be far away from some sort of currency crisis. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted September 22, 2015 Share Posted September 22, 2015 Obviously not investing enough in welfare benefits, all this damn austerity. We could all rest easy if we had a Corbyn Government propped up by Woods and Sturgeon. Spen, spend, spend and all our problems would be over. Quote Link to comment Share on other sites More sharing options...
pipllman Posted September 22, 2015 Share Posted September 22, 2015 twelve billion pounds deficit in one month after 5 years of an austerity government what would it be like if they were on a spending spree? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 22, 2015 Share Posted September 22, 2015 Tax take dropping....Oh dear. But but but....dont we havce record low unemployment. This is the problem with having housing costs so high. Quote Link to comment Share on other sites More sharing options...
Errol Posted September 22, 2015 Share Posted September 22, 2015 twelve billion pounds deficit in one month after 5 years of an austerity government what would it be like if they were on a spending spree? Yes, hilarious isn't it? And apparently we are 'enjoying' a recovery and good growth. Quote Link to comment Share on other sites More sharing options...
Giraffe Posted September 22, 2015 Share Posted September 22, 2015 CBI Industrial Order Expectations just shat itself as well. expecting a 0 print, came out at -7. Oh dear never mind. https://uk.news.yahoo.com/uk-manufacturing-stalls-september-outlook-weak-cbi-101453070--finance.html#226uezL Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 22, 2015 Share Posted September 22, 2015 Yes, hilarious isn't it? And apparently we are 'enjoying' a recovery and good growth. Yeah, only if you own a london property....like....like...like an MP perhaps. Quote Link to comment Share on other sites More sharing options...
PopGun Posted September 22, 2015 Share Posted September 22, 2015 Where's this money being spent? It certainly isn't being spent on public services. We simply can't afford to prop up banks and/or their junk debts. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 22, 2015 Share Posted September 22, 2015 Where's this money being spent? It certainly isn't being spent on public services. We simply can't afford to prop up banks and/or their junk debts. PAying for the public sector and the bankers. All they are doing is rewarding themselves now and asking US to pay for it in the future. It's doomked to failure and WILL leave a massive black hole. Austerity is inevitable. I keep saying it, but getting out now looks like the smary move. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 22, 2015 Share Posted September 22, 2015 http://www.housepricecrash.co.uk/forum/index.php?/topic/205697-uk-government-borrowing-falls-in-june-on-record-tax-haul/ Uk Government Borrowing Falls In June On Record Tax HaulUK government borrowing fell to £9.4bn in June, down £0.8bn from a year earlier, as income and corporation tax receipts rose to record levels, official figures show. And it was this headline in July. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted September 22, 2015 Share Posted September 22, 2015 Didn't take the Tories long to throw their pre-election deficit reduction timetable overboard, did it? All of three months. Business as usual then. Quote Link to comment Share on other sites More sharing options...
Steppenpig Posted September 22, 2015 Share Posted September 22, 2015 I' m glad things are back to normal, cos it was confusing when they were coming in better than expected. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 22, 2015 Share Posted September 22, 2015 http://www.bbc.co.uk/news/business-34014803 The UK government spent less last month than it received in taxes and other forms of income, official figures have shown. Government borrowing was in surplus by £1.3bn in July, the Office for National Statistics (ONS) said. That was the first July surplus since 2012, thanks largely to higher amounts of income tax receipts. The government received £59.1bn in income in July 2015, which is about 4% higher than last year's figure. That's the surplus gone then from last month. Quote Link to comment Share on other sites More sharing options...
janch Posted September 22, 2015 Share Posted September 22, 2015 George was crowing from China this am that things could hardly be going better Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted September 22, 2015 Share Posted September 22, 2015 Tax take dropping....Oh dear. But but but....dont we havce record low unemployment. This is the problem with having housing costs so high. Record low unemployment... and how many of those technically in employment are working low hours (by choice or otherwise), are getting low wages or are self-employed and making naff-all income. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 22, 2015 Share Posted September 22, 2015 Record low unemployment... and how many of those technically in employment are working low hours (by choice or otherwise), are getting low wages or are self-employed and making naff-all income. One other factor...I just cant be bothered lining the pockets of the 1%ers any more so I work less. I pay less tax. I am voting with my work ethic. How many others are fed up effectively working for nowt ? Quote Link to comment Share on other sites More sharing options...
Timak Posted September 22, 2015 Share Posted September 22, 2015 On the same day that Addenbrookes hospital in Cambridge has gone into special measures, not because of problems with care (500k operations a year with some of the best outcomes in the world) but because they can't afford sufficient staff. The cost of a non-subsidised flat is around £600 a month per bedroom + bills. Once again the problem is high house prices leaving little room for other spending. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 22, 2015 Share Posted September 22, 2015 On the same day that Addenbrookes hospital in Cambridge has gone into special measures, not because of problems with care (500k operations a year with some of the best outcomes in the world) but because they can't afford sufficient staff. The cost of a non-subsidised flat is around £600 a month per bedroom + bills. Once again the problem is high house prices leaving little room for other spending. I read somewhere that they have a budget definic of 60M a year...no mention of how much debt. The NHS are clearly paying themselves and their suppliers too much, with money they are borrowing. Real austerity has not yet started....but cant be far off. The easiest solution is less population....maybe a war will be started· Quote Link to comment Share on other sites More sharing options...
nome Posted September 22, 2015 Share Posted September 22, 2015 Where's this money being spent? It certainly isn't being spent on public services. We simply can't afford to prop up banks and/or their junk debts. £23.00 an hour for supervising a team of 3 dishing out HB doesn't sound too austere to me... http://www.indeed.co.uk/viewjob?jk=90dfc92cbe733571&l=Anglesey&tk=19vi30j7707753kj&from=ja&alid=7f80b6ccd81bf274&utm_source=jobseeker_emails&utm_medium=email&utm_campaign=job_alerts Quote Link to comment Share on other sites More sharing options...
winkie Posted September 22, 2015 Share Posted September 22, 2015 .....that is what happens when costs, waste and the salary pot increases. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 22, 2015 Share Posted September 22, 2015 .....that is what happens when costs, waste and the salary pot increases. This is what happens when those in charge help themsleves to 60-70% if peoples income and spend it on themselves, their friends and their pet projects. I've said for a long time, the UK taxation and UK public sector are a massive problem. No one talks about it. All we get is free loading VI saying they need more and more to support their current expenditure ( i.e their wages ). Quote Link to comment Share on other sites More sharing options...
pipllman Posted September 22, 2015 Share Posted September 22, 2015 (edited) the credibility of successive governments that preach austerity whilst presiding over an increasing deficit and debt gets called into question doesn't it? how low can the credibility go? what happens if it gets so that the majority don't believe it anymore? That the government needs low interest rates is without question now I think some of the forecasts for debt interest and GDP look a touch optimistic otherwise http://www.parliament.uk/briefing-papers/sn05745.pdf 14/15 = £45.2bn / 2.5% GDP 15/16 = 46.7bn / 2.5% 16/17 = 51.1bn / 2.6% 17/18 = 55.9bn / 2.8% 18/19 = 57.2bn / 2.7% 19/20 = 58.5bn / 2.6% 20/21 = 58.6bn / 2.5% So, in a nutshell, the government is forecasting to be paying nearly £12bn a year more in interest in 18/19 then it is this year - nearly a £1bn a month more! Edited September 22, 2015 by pipllman Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted September 22, 2015 Share Posted September 22, 2015 (edited) Where's this money being spent? It certainly isn't being spent on public services. £1.2Bn a week on interest repayments on the £1.5Tn debt - so there's £5Bn down the swanny every month on interest repayments alone. So, in a nutshell, the government is forecasting to be paying nearly £12bn a year more in interest in 18/19 then it is this year - nearly a £1bn a month more! According to Osborne's 2010 forecast, we were meant to be in a yearly surplus by 2015/16! Edited September 22, 2015 by canbuywontbuy Quote Link to comment Share on other sites More sharing options...
Fairyland Posted September 22, 2015 Share Posted September 22, 2015 (edited) Time for HTB 3 and HTB 4. 30% Equity loan? Or even greater to keep the tax receipts going. Edited September 22, 2015 by Fairyland Quote Link to comment Share on other sites More sharing options...
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