Thursday, April 15, 2010

Only one option IV...

Cuts, cuts, cuts. But nobody's telling us how much they must really be; to be honest I think nobody really wants to listen! In case anyone missed it David Starkey was telling it how it is on the BBC's This Week programme. "They stopped government doing things...". Well worth a listen. (hat-tip Not a sheep).

UK debt is mounting by half a billion a day and that our of course this means debt interest payments are also sky-rocketing "by 2014-15, even on the government's optimistic projections, they will be £3,000 pa for every single household".

Note that HMT is the source! "One day we know there will be a terrible reckoning." Image and hat-tip Burning Our Money.

Also, off on a tangent, we can even blame Brown for the cost of petrol: the devaluation of the GBP - like all the borrowing and printing of vast sums of new money - "was an important element to protect an economy under tremendous pressure..."

"Brown has for his own short term political reasons blocked any credible medium term plan to be put forward to deal with the UK’s fiscal crisis. This adds daily to the level of pressure on the currency. International investors and the rating agencies understand this dynamic well and require the Pound to fall if they are to continue to provide funds to cover Brown’s borrowing. The situation is unsustainable, dangerous and rapidly deteriorating."

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Paul said...

Not sure anybody, apart from Spain and Canada, come out of The Week debate very well. Cameron is caught in the headlights of fame, you can see that in his eyes, he's the PM for the Strictly Come Dancing generation. He worships Thatcher and therefore Blair.

Current polls suggest a Labour victory but a hung parliament, there's still a lot of people out there who believe that we will stick with those who got us into this problem.

Tonights first debate might help.

Paul said...

Following on from that Michael P makes the same point I was making about a month ago about the economy and the misunderstanding about cuts and economic dynamism. I'm glad I'm in an army of two - although I'm not sure I have complete faith in my private.

Span Ows said...

Cameron is caught in the headlights of fame, you can see that in his eyes, he's the PM for the Strictly Come Dancing generation.

wondeful phrase


Polls suggest to me just the opposite. Tory majority on the cards barring disasters (I don't mean the actual poll figures, I mean 'beyond' the polls: listen to Andrew Cooper of Populus HERE

"cuts and economic dynamism"...isn't that many are on about? letting loose the chains of government, lower taxes, more flexibility? The supply side ecoomics MP mentions?

Paul said...

cuts and economic dynamism"...isn't that many are on about?"

It is and I think we are all guilty of economic revisionism, which isn't necessarily a bad thing to be honest.