Obvious onslaught on one's oakus...

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BoJo seems to have gone stir crazy, a sort of demob happy in reverse. The overbudget, behind schedule, no business case, no environmental case, unwanted and unneeded HS2, the Huawei bullet (now dodged maybe), possible fuel tax rises, green zero carbon eco-lunacy etc. money money money.



The graph highlights the good work done (slowly but surely) over the last decade to reduce borrowing (spending!). Now it is all set to go pear shaped. That said, the graph really does pop the bubble and highlight the lies of the 'austerity' screamers* (quadruple, triple and double the 2007 borrowing from 2009-2016...and they didn't hide it under the mattress). Spending has been more than income since 2002.

Graph hat-tip: Guido.

Full info debt, deficit, borrowing, receipts etc: UK Gov ONS Public Sector Finances.



* It may have been just a 'vote for me' gimmick but BoJo was wrong to say "austerity" was 'not the way forward'.

Obvious onslaught on one's oakus...

---

BoJo seems to have gone stir crazy, a sort of demob happy in reverse. The overbudget, behind schedule, no business case, no environmental case, unwanted and unneeded HS2, the Huawei bullet (now dodged maybe), possible fuel tax rises, green zero carbon eco-lunacy etc. money money money.

The graph highlights the good work done (slowly but surely) over the last decade to reduce borrowing (spending!). Now it is all set to go pear shaped. That said, the graph really does pop the bubble and highlight the lies of the 'austerity' screamers* (quadruple, triple and double the 2007 borrowing from 2009-2016...and they didn't hide it under the mattress). Spending has been more than income since 2002.

Graph hat-tip: Guido.
Full info debt, deficit, borrowing, receipts etc: UK Gov ONS Public Sector Finances.

* It may have been just a 'vote for me' gimmick but BoJo was wrong to say "austerity" was 'not the way forward'.

Owning our owed outgoings...

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The belt-tightening after 2008 hasn't continued; did it really even start? All I see and have seen over the last decade is people spending like crazy, wanting everything now, the austerity that never was...there may be trouble ahead.



Click on image to link to article. You will find more infographics at Statista



"The rate at which UK institutions, households and businesses are borrowing money is greater than that of all other OECD countries. This fact is alarming some economists not only because the rate of UK borrowing is high against the country’s GDP, but also because households, business and state coffers are running a deficit simultaneously for the first time since the 1980s"....



" Not included in the data by the OECD are overseas investments by Britons as well as foreigners’ financial business in the UK. Here, another troublesome statistic emerges. While the UK had been running a net profit for overseas lending and borrowing in the past, the situation has reversed since the financial crisis."

Owning our owed outgoings...

---

The belt-tightening after 2008 hasn't continued; did it really even start? All I see and have seen over the last decade is people spending like crazy, wanting everything now, the austerity that never was...there may be trouble ahead.

Click on image to link to article. You will find more infographics at Statista

"The rate at which UK institutions, households and businesses are borrowing money is greater than that of all other OECD countries. This fact is alarming some economists not only because the rate of UK borrowing is high against the country’s GDP, but also because households, business and state coffers are running a deficit simultaneously for the first time since the 1980s"....

" Not included in the data by the OECD are overseas investments by Britons as well as foreigners’ financial business in the UK. Here, another troublesome statistic emerges. While the UK had been running a net profit for overseas lending and borrowing in the past, the situation has reversed since the financial crisis."