'Decades of austerity needed to cut debt'

[maxmaximus]

Economists forecast the end of growth

 

Unlimited GDP growth is over as we enter a new age of resource scarcity - we must transition to a new economy.

 

 

With a smaller population.

[Happ Hazzard]

The more austerity, the better as far as I am concerned.

[Dingus]

Well the alternative is not have any schools, not have any hospitals, not have any pensions etc etc

 

Alternatively full employment would provide enough tax receipts to pay for whatever stupid spending policies the government of the day had, but they don't seem to want to go down that route.

 

That hardly addresses the situation though does it? We have a massive debt and a massive budget deficit. Regarless of your comment on employment, we do have more folk in work than at any time in the county's history, but that still doesn't mean that we as a country can spend more than we take in tax revenues. So unless you know folk who like to lend money without getting it back we are destined to fail unless we can cut the deficit.

 

So what is your alternative?

[9farmboy9]

I see a lot of ignorance about immigrants in this thread which can only have the intention to influence public opinion

 

Please qualify that statement. Snipe and run is not the English way.

[Mecky]

Here's a question, suppose the debt is cleared, then what?

[Old Tom]

Here's a question, suppose the debt is cleared, then what?

 

We all live happily ever after. It's rather like getting out of the clutches of Wonga.com

[I1L2T3]

People do realise the debt will never be cleared? Even before the crisis there was never any intention or policy to clear the debt.

 

The aim is to manage the debt. There will never be a time when gilts are not being sold. There will never be a time when the government will not have a massive borrowing requirement in addition to normal taxation revenue, e.g. even in good times when it needs to raise large sums for big projects.

 

Stop talking about clearing the debt. It isn't on the cards.

 

---------- Post added 21-07-2013 at 12:17 ----------

 

That hardly addresses the situation though does it? We have a massive debt and a massive budget deficit. Regarless of your comment on employment, we do have more folk in work than at any time in the county's history, but that still doesn't mean that we as a country can spend more than we take in tax revenues. So unless you know folk who like to lend money without getting it back we are destined to fail unless we can cut the deficit.

 

So what is your alternative?

 

More accurately, we have more people than ever not in a category that marks them as economically inactive.

[Peer Gynt]

People do realise the debt will never be cleared? Even before the crisis there was never any intention or policy to clear the debt.

 

The aim is to manage the debt. There will never be a time when gilts are not being sold. There will never be a time when the government will not have a massive borrowing requirement in addition to normal taxation revenue, e.g. even in good times when it needs to raise large sums for big projects.

 

Stop talking about clearing the debt. It isn't on the cards.

 

---------- Post added 21-07-2013 at 12:17 ----------

 

 

Quote:

Originally Posted by Dingus View Post

That hardly addresses the situation though does it? We have a massive debt and a massive budget deficit. Regarless of your comment on employment, we do have more folk in work than at any time in the county's history, but that still doesn't mean that we as a country can spend more than we take in tax revenues. So unless you know folk who like to lend money without getting it back we are destined to fail unless we can cut the deficit.

 

So what is your alternative?

 

More accurately, we have more people than ever not in a category that marks them as economically inactive.

 

Don't you people realise that it's the same spin as when North Sea Oil & Gas was due.

Just an excuse for the rich to get richer and the poor to still be lumbered.