percy filth Posted October 12, 2011 Share Posted October 12, 2011 re: credit ratings. We still see articles now saying that our AAA rating is under threat. Just google it. The funny thing is the person posting the links probably saw all those and decided to ignore. I'd certainly never deny those warnings were not happening pre-2010. But you did with your ludicrous claim that the ratings agencies endorsed Darling's debt reduction plans. They didn't. Link to comment Share on other sites More sharing options...
percy filth Posted October 12, 2011 Share Posted October 12, 2011 But you did with your ludicrous claim that the ratings agencies endorsed Darling's debt reduction plans. They didn't. This is what they were actually saying. .http://www.guardian.co.uk/business/2010/jun/08/coalition-must-cut-budget-deficit-faster-fitch Leading credit ratings agencies today called on Britain's coalition government to speed up efforts to cut the record budget deficit or risk losing the country's top credit rating. As the chancellor, George Osborne, set out the framework for huge spending cuts in his emergency budget in 13 days' time, Fitch warned that the UK faced a "formidable" challenge to repair its battered public finances. Rival agency Standard & Poor's urged the government to maintain its commitment to repairing the public finances. "Much, much more needs to be done, considering that the deficit is actually in excess of £150bn," it said. Fitch noted that the UK's ratio of debt to economic output had risen faster than in any other AAA-rated country since 2008. Britain's deficit – currently forecast to hit £163bn this year – has ballooned to nearly twice the size of the shortfalls seen during previous economic downturns in the 1970s and early 1990s. Link to comment Share on other sites More sharing options...
Magilla Posted October 12, 2011 Share Posted October 12, 2011 And lets not forget unemployment. http://www.bbc.co.uk/news/business-15271800 While you forget everything else, it would seem. Labour employed hundreds of thousands in the public sector to keep figures down, that money was squandered and now it's run out. Unsurprisingly now unemployment has to go back up. Coupled with the credit crunch and the reality that Labour squandered all the money that could have helped us at this time, it's no surprise unemployment is going through the roof! Your posts seems to be a bit like waiting for it to go dark at night and then saying "see, I told you it would go dark". Well done, you stated the obvious! Fine job Dave congratulations Considering the legacy of the previous lot, he's doing OK so far. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 12, 2011 Share Posted October 12, 2011 But you did with your ludicrous claim that the ratings agencies endorsed Darling's debt reduction plans. They didn't. If they didn't support his approach then why wasn't the UK downgraded well before 2010. In the queens speech in 2009 the government committed to halving the deficit. The AAA rating was affirmed the following month, albeit with warnings just like any confirmation of it recently has been with caution. I think the key difference was the markets had more belief in Osborne delivering the reduction. Unfortunately it looks like he will undershoot. They're asking him to slow it down anyway to something more akin to what Labour was planning. Link to comment Share on other sites More sharing options...
ElasticMan Posted October 12, 2011 Share Posted October 12, 2011 Labour employed hundreds of thousands in the public sector to keep figures down, that money was squandered and now it's run out. Unsurprisingly now unemployment has to go back up. So all of these job losses are in the public sector are they? Link to comment Share on other sites More sharing options...
Keith Rich Posted October 12, 2011 Share Posted October 12, 2011 Cammers is cutting out the fat from the state sector, streamlining it if you will. These people are now free'd up to do the forthcoming proper jobs. Dream on baby Link to comment Share on other sites More sharing options...
Keith Rich Posted October 12, 2011 Share Posted October 12, 2011 While you forget everything else, it would seem. Labour employed hundreds of thousands in the public sector to keep figures down, that money was squandered and now it's run out. Unsurprisingly now unemployment has to go back up. Coupled with the credit crunch and the reality that Labour squandered all the money that could have helped us at this time, it's no surprise unemployment is going through the roof! Your posts seems to be a bit like waiting for it to go dark at night and then saying "see, I told you it would go dark". Well done, you stated the obvious! Considering the legacy of the previous lot, he's doing OK so far. Yes he is dear...now get back into bed. The doctor will be soon be here with your medication. Link to comment Share on other sites More sharing options...
Magilla Posted October 12, 2011 Share Posted October 12, 2011 Yes he is dear...now get back into bed. The doctor will be soon be here with your medication. So, no points that you are able to dispute then... good to know Link to comment Share on other sites More sharing options...
Conrod Posted October 12, 2011 Share Posted October 12, 2011 Yes he is dear...now get back into bed. The doctor will be soon be here with your medication.But Magilla was spot on with his post - he's not the one needing medication. Link to comment Share on other sites More sharing options...
Magilla Posted October 12, 2011 Share Posted October 12, 2011 So all of these job losses are in the public sector are they? Of course not, I have never suggested as much. You clearly missed the "Coupled with" bit. Link to comment Share on other sites More sharing options...
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