Doom o'clock

[Ruprect]

Economy shrinking faster than thought:

http://business.timesonline.co.uk/tol/business/economics/article5985498.ece

Consumer expenditure was down 1 per cent during the period but government expenditure rose by 1.3 per cent and at the end of last year was 4.4 per cent higher than the same period in 2007.

to quote Daniel Hannan:

"You can't spend your way out of recession, you can't borrow your way out of debt"

 

[Solidec]

Budget is going to be SOOOO Bad, i'm more than a bit scared.

I think 10% structural deficit will seem good compared to what we may actually see by April 2010!

 

[Ruprect]

Budget is going to be SOOOO Bad, i'm more than a bit scared.

I think 10% structural deficit will seem good compared to what we may actually see by April 2010!

Not so sure - this is NuLab's last throw of the dice before the election and they do still seem to have their head in the sand about the consequences of all that borrowing. My expectations are that there won't be too much difference to the pre budget report, and that we will be greased up and bent over by whoever is in power for the next one.