March Budget 2016

[Semple]

Hopefully the fuel duty doesn't go up.

As i'll be doing lots more miles this year, i could do with it staying at the current level.

 

[Mr Jack]

Its call a deficit. We're reducing it - but you don't see anything "more" for your money, because it's paying off our debt. Apparently our weekly interest bill is £1bn a week.

No, it's not. Osborne is still adding to our debt; the deficit is the rate at which we accumulate debt.

 

[pinkpill]

Hopefully the fuel duty doesn't go up.

As i'll be doing lots more miles this year, i could do with it staying at the current level.

Fuel duty should be fluid compensating for price, so a time like this prices are low the tax revenue would be higher.

 

[pinkpill]

No, it's not. Osborne is still adding to our debt; the deficit is the rate at which we accumulate debt.

the difference between income and what we spend. so if we earn 100 and spend 102 then the deficit would be the over spend amount, so it would be excess of expenditure over revenue.

 

[Mr Jack]

I see Cameron is again boasting about our low inflation rate. We need more inflation; not less.

 

[V F]

I see Cameron is again boasting about our low inflation rate. We need more inflation; not less.

As well as him bleating on about how we have such a strong economy. If it is so strong why all the endless cuts.

 

[pinkpill]

I see Cameron is again boasting about our low inflation rate. We need more inflation; not less.

More inflation erodes service debt, in order to do that wages need to rise which it hasn't.

 

[Freakbro]

No, it's not. Osborne is still adding to our debt; the deficit is the rate at which we accumulate debt.

And it really does need re-iterating, we will never, ever meaningfully pay off our debt (ie: we will have to wait until 1.5 Trillion pounds has inflated away to the worth of about tuppence ha'penny)

 

[pinkpill]

As well as him bleating on about how we have such a strong economy. If it is so strong why all the endless cuts.

Its strong and weak, strong as there are lot of jobs weak because to much low paid jobs and high cost of living such as housing.

 

[V F]

Its strong and weak, strong as there are lot of jobs weak because to much low paid jobs and high cost of living such as housing.

Yes, that is good spin.

 

[antijoke]

Here comes the news.

 

[pinkpill]

And it really does need re-iterating, we will never, ever meaningfully pay off our debt (ie: we will have to wait until 1.5 Trillion pounds has inflated away to the worth of about tuppence ha'penny)

We can in proportion to national income its not that high,

 

[pinkpill]

 

[Mr Jack]

We can in proportion to national income its not that high

I think you're vigorously agreeing with Freakbro here. The point is that we don't pay off debt we render it irrelevant through inflation and growth.

 

[Mr Jack]

OBR growth forecasts revised down again. 2% a year until 2020 is a weak forecast, but I rather suspect it will turn out to be optimistic.

 

[pinkpill]

2.1 % growth for 3 years is optimistic its more like 1.5.

 

[pinkpill]

OBR growth forecasts revised down again. 2% a year until 2020 is a weak forecast, but I rather suspect it will turn out to be optimistic.

definitively optimistic

 

[antijoke]

God they are like school kids, shut up and let him deliver the budget FFS.

 

[platypus]

They could cut foreign aid by 30% that would be an instant 4 billion saved per year.

They could actually put in some effort to closing tax avoidance loopholes. That would pretty much solve all of our problems.

 

[Freakbro]

Hahaha, I love the way now he is talking about the debt in absolute terms instead of the usual % to GDP - as he always has done before - because in % terms it's higher now

Who mentioned moving the goalposts earlier?