"The country is being propped up by “unsustainable” Government spending"

[ThomasSoerensen]

How the "beep" can they be surprised about this.
Hasn't it been evident to everyone for a long time now that the "austerity" is fake.

[Peoplesoft bloke]

Where are you Maggie? Your country needs you to rid us of this destructive public sector waste.

You need a history lesson. Public sector spending increased under Maggie .

[russell]

When I make it rich I will become a tory.

[Scoobos]

lol shuddup.

What we need is some DEMAND in the economy and some confidence.

The working and middle classes are becoming more and more enlightened to the fact that we appear to be all busting a gut for a very small piece of the pie that the 10% are getting at the top.

The future of this country does not lie solely in 1 thing , finance, manufacturing whatever your argument we are far too tied up in this global "capitalism on smack" model. Tying pensions into the global financial markets is madness, always was imo - its gambling too much.. we need very very low risk investments and to face up to smaller pensions, than facing a complete loss of them like some countries are seeing.

It's clearly a fallicy and we need to look at alternatives, I'd say we need a return to greater regulation, including regulation of governments; but that wont be popular.

I'm growing tired of politically bouncing left and right and then having endless "reforms" over complicate and be instilled for short term gains in a 4 year period.

Global finance is driven by CEO's and MD's that work off a Financial Year model too, which is even more shortsighted.

[DodgyAgent]

"The concerns emerged after the Office for National Statistics (ONS) revealed that the double-dip recession was even worse than feared. The economy shrank by 0.3pc in the first quarter of the year, the ONS said in its second estimates, rather than the 0.2pc initially thought.

Government spending hit record levels in the three months to March in spite of the austerity drive, rising by 1.6pc to £81.5bn and delivering 0.4 percentage points of overall economic growth. However, the taxpayer-funded boost was not enough to offset weak activity in construction, trade and the financial sector.

Geoff Dicks, chief economist at Novus Capital and a former director of the Office for Budget Responsibility, said: “So much for cuts in public spending.” HSBC economist Simon Wells, who had expected state spending to be unchanged, described it as a “big surprise” and said the levels were “unsustainable if the coalition sticks to its fiscal plans”.

The economy’s weak performance was driven by a disastrous slump in construction, which shrank 4.8pc compared with the initial 3pc estimate. Trade also knocked 0.1 percentage points off growth as the country imported more than it exported.

Economists had pinned their hopes on improvements in the all-important services sector, which accounts for three quarters of the national output, but were let down by the embattled banking industry. Output in financial and insurance services contracted by 0.8pc to fall back to levels not seen since 2005. "

More from ze source: Government spending prevents worse double dip recession - Telegraph

Where are you Maggie? Your country needs you to rid us of this destructive public sector waste.

[AtW]

"The concerns emerged after the Office for National Statistics (ONS) revealed that the double-dip recession was even worse than feared. The economy shrank by 0.3pc in the first quarter of the year, the ONS said in its second estimates, rather than the 0.2pc initially thought.

Government spending hit record levels in the three months to March in spite of the austerity drive, rising by 1.6pc to £81.5bn and delivering 0.4 percentage points of overall economic growth. However, the taxpayer-funded boost was not enough to offset weak activity in construction, trade and the financial sector.

Geoff Dicks, chief economist at Novus Capital and a former director of the Office for Budget Responsibility, said: “So much for cuts in public spending.” HSBC economist Simon Wells, who had expected state spending to be unchanged, described it as a “big surprise” and said the levels were “unsustainable if the coalition sticks to its fiscal plans”.

The economy’s weak performance was driven by a disastrous slump in construction, which shrank 4.8pc compared with the initial 3pc estimate. Trade also knocked 0.1 percentage points off growth as the country imported more than it exported.

Economists had pinned their hopes on improvements in the all-important services sector, which accounts for three quarters of the national output, but were let down by the embattled banking industry. Output in financial and insurance services contracted by 0.8pc to fall back to levels not seen since 2005. "

More from ze source: Government spending prevents worse double dip recession - Telegraph