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Hope Gordon's Got His Sums Right!
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Oh dear I do hope Gordon Brown has got his figures right!
The IMF has forecast just 2.6% growth in Britains economy this year against Gordon Brown's 3-3.5%.
Worse still the IMF reckon that Gordon has already broken his borrowing rule that national deby should not exceed 40% of gross national product. On the fund's figures the debt hit 40.4% last year, will reach 42% this year, and 43.1% next year.
Gloomier still the IMF reckons that national debt will reach 46.3% of GDP in 2010.
The OECD have also produced similar figures.
Meanwhile our European competitors have been heading in the opposite direction, cutting their national debt burdens.
Are we witnessing the beginning of the end of Labour's "successful economic management"?
The IMF has forecast just 2.6% growth in Britains economy this year against Gordon Brown's 3-3.5%.
Worse still the IMF reckon that Gordon has already broken his borrowing rule that national deby should not exceed 40% of gross national product. On the fund's figures the debt hit 40.4% last year, will reach 42% this year, and 43.1% next year.
Gloomier still the IMF reckons that national debt will reach 46.3% of GDP in 2010.
The OECD have also produced similar figures.
Meanwhile our European competitors have been heading in the opposite direction, cutting their national debt burdens.
Are we witnessing the beginning of the end of Labour's "successful economic management"?
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Comments
Gordon Brown pisses over all Tory chancellors in history put together.
Remember the Tories try to start a slogan, "vote for Blair and get Brown"? They have now dropped the campaign... even they acknowledge Brown is a superb chancellor and politician.
Never ceases to amaze me how people whinge about the UN being a constraint on sovereignty, but aren't bothered about unaccountable, over-powerful and ideologically-driven financial institutions that can tell you how to run your own economy, and impose sanctions if you don't comply.
To be fair I think they dropped it less because they think Brown's a great chancellor and more because there's so many Labour supporters who can't stand Blair and plan not to vote, but might do so if they think that Blair will soon be replaced by Brown.
Manufacturing growth cant hold up the economy cuz hes run it into the floor so were all off to hell in a hand cart.
Im gonna emigrate to germany where crime is half what it is here and highest rate tax payers pay LESS!!!
And there was me thinking share prices had gone way up since 2001.
Oh, and you do realise that Germany has way more unemployed than here, a far bigger pensions problem and an unworkable social welfare system.
The drop in 'average' (and I don't know which measure they used) incomes was probably too small to make a great deal of difference in this respect. Falling consumer spending has far more to do with the fact that, thanks to deregulation of credit and the 'you can have it all culture,' consumer spending is just about all that's kept the economy going for the last decade - financed by ever-increasing mountains of personal debt. Finally, people are starting to realise this can't go on, and to spend less.
Crime is lower in Germany because they have a far more inclusve social model, more generous social security and better vocational training than we do. Nor have they suffered Thatcherism and the 'there's no such thing as society so I'm all right jack but I don't care about anyone else' culture. Germany faces very severe economic problems, but I find it interesting how Germany's difficulties are held up as an example of why the 'European social model' does not work, since it conveniently ignores the fact that the Scandinavian countries' economies, which are all run along the same lines, are doing very well for themselves.
Not really, Sweden's economy hasnt really grown in ages and the other countries are actually cutting some taxes.
Can't have it both ways... :rolleyes:
If you do have any shares, get rid of them before June/July. Oil prices are set to go nova at that point and it's possible that another massive drop in the market will happen.
http://home.entouch.net/dmd/ghawar.htm
The reason that our lads went to Iraq is that there is fuck all oil left. Our lifestyle is completely unsustainable even short/medium term.
Oh yeah. Who do we pay the national debt to anyway?
They're not growing all that quickly, but they're stable and they maintain a very high standard of living.
Growth isn't the only thing that matters.
Klintock is quite right about our lifestyle being unsustainable. Part of the reason for that is the 'growth at all costs' ideology.
Wow. Twice in 500+ posts. My time has come at last!!
broken their own rules governing the Stability Pact for heavens sake, to the French/German Axis this doesn't matter, the economic rules only apply to smaller or newer countries.
The UK sitting outside all is has done relatively well but the storm clouds are gathering and it wouldn't surprise me to see the third Labour government having to battle a recession - now that would put a dent on Gordon Browns image.
I'm not even voting such is my apathy for all parties. I'm just disappointed that Phoney Blair has had such an easy run after what hes done.
I've noticed in the last few days you have gone as far as saying Labour supporters need not worry going to vote because Labour is going to win hands down.
You wouldn't be trying to stir up apathy would you?
Now that is a great phrase. Consider it stolen >yoink<
Turn up and make statement of your own.
I say brown wouldnt know a balance sheet if it bit his ass and explained why and alladin says shares went up since 2001. Well no shit sherlock, 9/11 plus techno bubble equals stock crash. Shares are way down since 99 and are down from 02/03 levels.
Brown cant count, the crap about hes better than tory chancellors is untrue CBI says both lawson and clark are better.
Only partisan brownites could possibly say he knows what hes doing after 1,000,000 manufacturing jobs gone and on the fly tax rule changes to raid companies to cover his accountacy deficencies. Windfall tax plus oil company early tax colection changes proves he cant run the finances without cooking the books.
Still 8 bil black hole and growth which relies on consumer spending to support it to maintain spending is weakening.
No, I honestly think Labour will walk it, the Tories haven't really hit home hard enough on the key issues nor have the Lib-Dems - its what I mean by Phoney Blair having an easy ride despite his multitude of sins and hypocrisy.
I'm not voting and I recommend evryone else stays at home and sticks two fingers up to them all.
Just proves Labour knows only one trick - lies.