UK fooked

[DimPrawn]

https://mninews.marketnews.com/conte...-receipts-poor

While Chancellor of the Exchequer George Osborne has been helped by a temporary boost of Royal Mail pensions and by transferring the coupon payments resulting from Quantitative Easing from the BOE, the underlying picture remains poor. With GDP growth likely to remain weak for some time, it is difficult to see how receipts will pick up enough to make a sizeable impact in the deficit.



So the ConDems have nicked the huge Royal Mail pension pot, taken the interest from the QE money and still borrowing is ballooning.

[BrilloPad]

Its okay. We can just inflate our way out of the mess. The only ones who will suffer are those who have retired. But everyone on this forum works so thats okay.

[Mich the Tester]

Not just the UK, but much of Europe too. I can't see this being solved without some kind of debt cancellation plan (which wouldn't be pleasant but might offer a new start).

[speling bee]

Its okay. We can just inflate our way out of the mess. The only ones who will suffer are those who have retired. But everyone on this forum works so thats okay.

+1, remember it's not just retirees. People with savings are partly to blame for falling demand and must be punished - at the same time as inflating away the debt.

[BlasterBates]

Public borrowing jumps in October

from 6 billion to 8.6 billion

So to summarise the deficit is ballooning out of control

[Robinho]

We need to cut about 30% off of spending.

None of this mickey mouse austerity.

In the long run it will be much better.

[Old Hack]

We need to cut about 30% off of spending.

None of this mickey mouse austerity.

In the long run it will be much better.

It's all right, with teh current Public sector rules on contractors, most projects arent going anywhere as they cant fill the roles. Money saved in buckets, just fook all done...

[escapeUK]

It's all right, with teh current Public sector rules on contractors, most projects arent going anywhere as they cant fill the roles. Money saved in buckets, just fook all done...

The projects were pointless anyway.

[alreadypacked]

We need to cut about 30% off of spending.

None of this mickey mouse austerity.

In the long run it will be much better.

National debt at a % of GDP fell to 29% of GDP by 2002.

Public sector net debt was £1,065.4 billion at the end of September 2012, equivalent to 67.9% of GDP

UK debt has more than doubled the GDP % in 10 years

On the bright side, UK is not as bad as Japan for example has a National debt of 194%

UK National Debt | Economics Blog

[BrilloPad]

On the bright side, UK is not as bad as Japan for example has a National debt of 194%

But the Japanese debt is largely bought by its own citizens who are long term holders.

Most UK debt is held by institutions who might decide to sell.