Saturday, February 20, 2010

“Let’s Spend our way out of Recession?”

Britain's deficit third worst in the world, table

"Britain has one of the worst deficits as a percentage of GDP in the world, according to OECD figures. Only Iceland and Greece have higher deficits and experts fear it could overtake Greece. Here is a table of how the UK compares with other nations". Ross Walker, RBS chief economist, said "there were grounds for concern about Britain's public finances. He said he fell in the camp urging a credible policy in the medium term". "The Government needs to deliver something upfront," he said, "such as raising VAT to possibly as high as 20pc".

Posted by alan @ 02:56 PM (948 views)
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3 thoughts on ““Let’s Spend our way out of Recession?”

  • Yep, it’s been working really well, just throw more money at it. Simples. Even a failed businessman knows better.

    Recovery still 6 months away. Housing crash still 10 years away. Go figure Gordo. When will the butcher cut the fat.

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  • Gordon Brown has decided to sacrifice Sterling for some kind of global financial system. But remember that common law Sterling still exists:

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  • IMO, as soon as the GenElec is over, the new gov’t will say ‘Holy Sh1t, what a mess. Far worse than we thought. This is how bad things really are.’ And they won’t even have to exagerate it!

    Perfect reason to raise taxes (IT and VAT), and also IR.

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