Anna Glypta Posted July 3, 2013 Share Posted July 3, 2013 That's not what Grub Bank said on the Sunday Morning TV rubbish Then perhaps you should either watch a reliable programme or at least learn to understand what is being said. This one has some nice pictures that you should be able to understand. http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data How bad is Britain's deficit? The latest set of figures show that Britain's deficit was £2.5bn lower in April than the same month a year earlier. The Office for National Statistics said public sector net borrowing came in at £85.1 for the 2012-13 financial year. That's a £35.8bn improvement on the £120.9bn in the previous year.. Heather Stewart writes today: George Osborne received a boost on Wednesday with news that the deficit was £2.5bn lower in April than the same month a year earlier, boosting hopes that his plan to repair the UK's public finances is back on track. Link to comment Share on other sites More sharing options...
Mecky Posted July 3, 2013 Share Posted July 3, 2013 Then perhaps you should either watch a reliable programme or at least learn to understand what is being said. This one has some nice pictures that you should be able to understand. http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data How bad is Britain's deficit? The latest set of figures show that Britain's deficit was £2.5bn lower in April than the same month a year earlier. The Office for National Statistics said public sector net borrowing came in at £85.1 for the 2012-13 financial year. That's a £35.8bn improvement on the £120.9bn in the previous year.. Heather Stewart writes today: George Osborne received a boost on Wednesday with news that the deficit was £2.5bn lower in April than the same month a year earlier, boosting hopes that his plan to repair the UK's public finances is back on track. Unreliable? You mean straight from the horses mouth? Ah, I see what you mean Link to comment Share on other sites More sharing options...
Anna Glypta Posted July 3, 2013 Share Posted July 3, 2013 Unreliable? You mean straight from the horses mouth? Ah, I see what you mean I find the guardian a pretty left of centre but otherwise reliable source. Perhaps you can provide a link to some comic that claims the deficit has increased whilst Osbourne has been chancellor? Link to comment Share on other sites More sharing options...
L00b Posted July 3, 2013 Share Posted July 3, 2013 I thought the 2008 crash that happened to a lot of Western countries, not just ours, was brought about by the mis-selling of sub-prime mortages in the States or has that theory been discredited now?Must we go over this again? There's no need to rectify anything, the 2008 crash was indeed global (and not attributable to the US sub-prime mortgages, but to the bundling and selling of such mortgages as CDS and the like on financial markets by casino banks). What criticism is levelled at Brown is not that he caused the crash (as such...though IMHO he played a part in its making by omission), but that he completely and utterly failed to prepare the UK for it, when he had all the warnings and data about it from many different Gvt and independent bodies. Quite on the contrary, in pure la-la-la-I-can't-hear-you style, he went on an unprecedented spree of public spending commitments, which the next Gvt has been busy trying to get out of/mitigate ever since. That is exactly why public spending took the shape it did over the past 3 years. For the sake of brevity, let's also gloss over his "light touch" regulation which allowed the City to play a prominent role in global CDS trading, and indulge in such other niceties as Libor fixing and more. There's no SEC overwatch of the FTSE, and all of the FSA's teeth were conveniently knocked out early by Brown, y'see... Link to comment Share on other sites More sharing options...
Anna Glypta Posted July 3, 2013 Share Posted July 3, 2013 Must we go over this again? There's no need to rectify anything, the 2008 crash was indeed global (and not attributable to the US sub-prime mortgages, but to the bundling and selling of such mortgages as CDS and the like on financial markets by casino banks). What criticism is levelled at Brown is not that he caused the crash (as such...though IMHO he played a part in its making by omission), but that he completely and utterly failed to prepare the UK for it, when he had all the warnings and data about it from many different Gvt and independent bodies. Quite on the contrary, in pure la-la-la-I-can't-hear-you style, he went on an unprecedented spree of public spending commitments, which the next Gvt has been busy trying to get out of/mitigate ever since. That is exactly why public spending took the shape it did over the past 3 years. For the sake of brevity, let's also gloss over his "light touch" regulation which allowed the City to play a prominent role in global CDS trading, and indulge in such other niceties as Libor fixing and more. There's no SEC overwatch of the FTSE, and all of the FSA's teeth were conveniently knocked out early by Brown, y'see... Indeed. The attached graph shows how government spending started to spiral out of control in 2002, just as Labour started their second term without the constraints of their 1997 promise to keep to Tory spending limits. http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data#zoomed-picture Link to comment Share on other sites More sharing options...
Mecky Posted July 3, 2013 Share Posted July 3, 2013 I find the guardian a pretty left of centre but otherwise reliable source. Perhaps you can provide a link to some comic that claims the deficit has increased whilst Osbourne has been chancellor? From the Independant 23/06/2013 http://www.independent.co.uk/voices/comment/increasing-deficit-cuts-right-through-the-chancellors-spin-on-britains-economy-8670095.html Link to comment Share on other sites More sharing options...
Anna Glypta Posted July 3, 2013 Share Posted July 3, 2013 From the Independant 23/06/2013 http://www.independent.co.uk/voices/comment/increasing-deficit-cuts-right-through-the-chancellors-spin-on-britains-economy-8670095.html Excluding one-offs such as the transfer of the Royal Mail pension fund and the Bank of England’s gilt holdings under quantitative easing, borrowing was £118.8bn in 2012-13, up from £118.5bn the year before. Ah mecky you are wonderful. I can't decide whether you are so stupid that you believe this manipulation or so desperate to make a point. Either way it doesn't alter the fact that the deficit has reduced markedly since 2010 and the economy is recovering. We will go into the next election with a far healthier balance sheet and a far higher GDP. No amount of manipulation will alter that, and the only people who will deny it are folks like you who probably don't even believe what they are posting anyhow. Link to comment Share on other sites More sharing options...
Mecky Posted July 3, 2013 Share Posted July 3, 2013 Excluding one-offs such as the transfer of the Royal Mail pension fund and the Bank of England’s gilt holdings under quantitative easing, borrowing was £118.8bn in 2012-13, up from £118.5bn the year before. Ah mecky you are wonderful. I can't decide whether you are so stupid that you believe this manipulation or so desperate to make a point. Either way it doesn't alter the fact that the deficit has reduced markedly since 2010 and the economy is recovering. We will go into the next election with a far healthier balance sheet and a far higher GDP. No amount of manipulation will alter that, and the only people who will deny it are folks like you who probably don't even believe what they are posting anyhow. So you've lost and resorted to insults then? Link to comment Share on other sites More sharing options...
Obelix Posted July 3, 2013 Share Posted July 3, 2013 So you've lost and resorted to insults then? Tory bully boys, right wing thugs, CameRuin, Gideon and lapdog.... All insults you have levied m'lad. Stop throwing stones in glass houses - it doesn't help you at all. Link to comment Share on other sites More sharing options...
Mecky Posted July 3, 2013 Share Posted July 3, 2013 Tory bully boys, right wing thugs, CameRuin, Gideon and lapdog.... All insults you have levied m'lad. Stop throwing stones in glass houses - it doesn't help you at all. Oh look, the cavalry is here ...yawn Link to comment Share on other sites More sharing options...
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