Saturday, October 8, 2011

Liam Halligan’s take on UK austerity

Talking up austerity will never bring down the UK's debt, Mr Osborne

Decent blog from Halligan (can't believe I just said that!) on the illusion of UK austerity, and the resulting perils that may await when the markets eventually move on from Europe, & take a closer look at the balance of Blighty's account..

Posted by tick tock @ 08:12 PM (1932 views)
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3 thoughts on “Liam Halligan’s take on UK austerity

  • Tories are increasing the Government debt, despite all their talk. How people were so easily fooled by them at the last election, I don’t know. Too much Strictly Come Dancing and X Factor, I guess. They are gutless and clueless… except they’ll do everything in their power to save their party funders, the City.

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  • It’s a bit worrying when the Chancellor makes a serious error in his party speech ie he talked about paying down the debt.

    The deficit is the difference between spending and earning – Labour planned to run a 6% deficit each year had they won the last election which would have pushed the overall debt upto roughly 1.5 Trillion by the end of the parliament – the tories aim to cut the deficit but they have no plan for cutting the debt (this will likely never ever be paid back) and under their own austerity plans will pass the 1 Trillion point.

    Part of the reason why Britain still has it’s ‘AAA’ rating and one thing that Labour did get right is that they issued Gilts with 40 and 50 year redemptions and therefore Britain has a slightly longer period of time to get it’s finances in order relative to other nations. UK is also under the 80% debt to GDP tipping point.

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  • @1 ” they’ll do everything in their power to save their party funders, the City.”

    Just as Labour will do everything to save their party funders, the unions.

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