The autumn statement

[selby]

Watching tories struggling to explain the doubling of government debt by 2020.
   Of course it is Labours fault and Brexit,nothing  to do with their incompetence.
   I would like to see the dart board in the house of commons with Camerons face on it,what a load of b*llocks he has left everyone while riding off into the sunset.

[drfchound]

I was just wondering what you would have written if Corbyn (or another Labour MP) was PM.
I have no political allegiance to any party in particular by the way but have to smile when i read stuff like this.

[Filo]

6 years the Tories have been in charge and for 6 years all we've heard from them is it's Labours fault. How many more years can they use that old line?

[glosterred]

Let's not forget we had 13 years of Labour being in charge and it was always the Tories fault. So why are you surprised

[Filo]

Can't remember Labour churning that out like the Tories do every time one of their policies goes tits up

[wilts rover]

I am struggling to work out how it is 'Labour's fault' that the current Tory chancellor has totally reversed the policy of the previous Tory chancellor and 6 years of Tory government? Perhaps someone can enlighten me?

[Sprotyrover]

I thought I heard the Shadow Chancellor stating he would have been spending £500 mouthwatering millions! I wouldn't trust him with £500 quid!

[BobG]

Did you know that the level of government debt, as a proportion of GDP, will shortly exceed, and will carry on to exceed by far, far far,  that which we experienced after the three seminal economic crises of the last 70 years: the oil price shock in the early 1970's; the crash we experienced during the 1990's interest rate crisis (another Tory disaster led by Norman Lamont btw) and the disaster which we found ourself facing after 2008 as well.

Given that the Conservative Party has blamed all ills on the the alleged incompetance of the Labour Government in 2008 wasting all those billions and billions saving the entire financial system of this country from a disaster created in the USA, just what will they say about themselves now that all those financial meltdowns are about to be dwarfed by another one that they have created themselves?

Oh. And wasn't it this Conservative Party that has subjected us all to 6 years of  'austerity' that has been hugely painful for many, many people, to reduce the level of government debt? I rather think the degree of failure implicit in today's anouncements really should make people question the competance of those who have led us this last several years. Looming economic crisis? Oh. We better go for some Keynsian economic policies then. So which is it? They were either wrong before, or they are wrong now.

It's quite funny isn't it? A government that has dedicated itself to austerity for 10 years is going to face an election in 2020 where the scale of government debt will break every single record, ever, in this country. And it's all their very own creation. Useless jerks.

Cheers

BobG

[bpoolrover]

Because without the austerity how much would the debt be now? Until labour reveal how they will get rid or lower the debt I will stick with what we have at the moment, all I hear from labour is how much they will spend now in the real world that can't happen

[Filo]

Because without the austerity how much would the debt be now? Until labour reveal how they will get rid or lower the debt I will stick with what we have at the moment, all I hear from labour is how much they will spend now in the real world that can't happen

In the real world it is already happening with the present government, 6 years ado they were going to get rid of the debt, it's increased instead, they've faild big time

[bobjimwilly]

Because without the austerity how much would the debt be now? Until labour reveal how they will get rid or lower the debt I will stick with what we have at the moment

Without austerity there would be more people in "proper" work (not these useless zero hour contracts that skew the employment figures) and more money would be pumped back into the economy. People would also be less scared to spend money and less inclined to save. You can't suggest it would be worse because you have no facts to prove it, just as the Tories didn't have their facts straight when they plowed on with austerity.

all I hear from labour is how much they will spend now in the real world that can't happen

Governments can stimulate the economy with easing, spending more and bailouts, just as Japan did in 2009
http://news.bbc.co.uk/1/hi/business/8204075.stm

Keynesian Economics: http://www.investopedia.com/terms/k/keynesianeconomics.asp

FYI This is what Labour proposed back in 2010. The Tories rejected it because they predicted it would, well, get us into the exact mess we're in today

[wilts rover]

Because without the austerity how much would the debt be now? Until labour reveal how they will get rid or lower the debt I will stick with what we have at the moment, all I hear from labour is how much they will spend now in the real world that can't happen

Did you miss the bit where Hammond is going to spend £23 Billion - yes £23 Billion - or is it only Labour's spending plans you criticise?

http://www.newstatesman.com/politics/staggers/2016/11/philip-hammonds-autumn-statement-infrastructure-splurge-heres-what-hes
http://www.telegraph.co.uk/business/2016/11/23/autumn-statement-chancellors-speech-full/

and what is the Telegraph's view on this? That he isn't spending or borrowing enough - as Labour have been saying for years.

The whole world is shifting on its economic axis. The era of fiscal austerity is over. The US, Japan, and even the eurozone, are all are switching to net stimulus, painfully aware that zero rates and quantitative easing have run their useful course.

http://www.telegraph.co.uk/business/2016/11/23/hammonds-fiscal-blunder-almost-guarantees-hard-landing/

You carry on in your little bubble there - meanwhile we have to live in the real world.