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An end "in sight" to Labour's debts ....
TOPIC: An end "in sight" to Labour's debts ....
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An end "in sight" to Labour's debts .... 6 Years ago
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Chancellor Philip Hammond has rejected calls by Labour and some Conservatives to announce the end of austerity in his spring statement on Tuesday.
He is expected to unveil the smallest budget deficit since 2002, thanks to better than expected public finances. But he told the BBC national debt was still too high, adding: "There is light at the end of the tunnel... but we are still in the tunnel at the moment."
Mr Hammond told the Andrew Marr Show it would be wrong to pour "every penny" into additional public spending.
He said it was "very important moment" to see debt starting to fall after growing for 17 continuous years.
But he said: "We should be very careful looking at single sets of figures - one quarter or two quarters - we need to look at what's happening sustainably in the economy."
The day-to-day deficit has been eliminated, it emerged earlier this month, two years later than former chancellor George Osborne had wanted when he set out in 2010.
The UK is now running a surplus of £3.8bn in its current budget - the money borrowed to fund day-to-day spending rather than long-term investment - according to the Office for National Statistics.
"We have a debt of £1.8 trillion - 86.5% of our GDP," Mr Hammond said. "All the international organisations recognise that is higher than the safe level. I think most people in this country would be horrified to be reminded that we have £65,000 worth of public debt for every household in this country," he said.
www.bbc.co.uk/news/uk-politics-43363167
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Re:As previously advised 6 Years ago
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In The Know wrote:
"All the international organisations recognise that is higher than the safe level. I think most people in this country would be horrified to be reminded that we have £65,000 worth of public debt for every household in this country," he said.
The Tories borrowed to make the c£2b debt.
When Labour left (less than a decade ago) - it was less than half that!
Making it the biggest increase in history - and the fastest.
Be absolutely delighted if you could dispute this.
However - even though you constantly ignore facts - those of us who Google, see the figures on every website...
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In The Know (as always !)
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Re:An end 6 Years ago
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In The Know wrote:
to see debt starting to fall after growing for 17 continuous years.
[/b]
Perhaps some people are simply not very good at maths !?
17 years of rising debt started in 2000 - and for the NEXT TEN YEARS - continued to rise under the Loony Labour party.
Fortunately that regime came to an end ... but we were STILL LEFT with huge debts (£43 Billion in interest payments alone this year !) and we have had to continue to borrow ever since to pay off Labour's debt (and accumulated interest).
The Tories' excellent fiscal management has reduced the amount needed to prop-up Labour's debts each and every year since then
- the day-to-day debt has already been eliminated (as the BBC points out).
We are well on the way - yet again - to repairing the problems left by a previous Loony Labour government.
Of course, this is all far too complicated for some to understand, so why do we allow these simpletons to vote?
Doing so has caused us to exit Europe - which will again be someone else's fault when it all goes wrong !.
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Re:As previously advised - so many times 6 Years ago
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Remember this
www.nationaldebtclock.co.uk
Over 50% borrowed by the Tories
In only 8 years...
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Re:Truly enormous debt 6 Years ago
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In The Know wrote:
"We have a debt of £1.8 trillion - 86.5% of our GDP," Mr Hammond said. "All the international organisations recognise that is higher than the safe level. I think most people in this country would be horrified to be reminded that we have £65,000 worth of public debt for every household in this country," he said
An honest admission - a Debt much higher than the safe level
It was under a trillion though when the Tories came back, only in 2010
Spending and borrowing (in less than a decade) of that magnitude and rapidity was previously unheard of.
More significantly - the Debt continues to rise...
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Re:Truly enormous debt 6 Years ago
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Yes Andrew - £1 billion a year
And will inevitably rise
When May's path is blocked
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Re: Fast Growing Debt 6 Years ago
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But Labour weren't in power for most of the nineties¡!
And why completely ignore the hundreds of millions of National Debt left by the Major government in 1997?
Who paid the interest on that!?
Or did you not know about it...
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Re: Fast Growing Debt - mostly by the Tories 6 Years ago
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Very much like talking to a sponge - no contra argument whatsoever. Ever.
One further point which you will also be incapable of disputing.
During the last 75 years - Labour reduced the National Debt once every 4 years.
The Tories did that only - in longer than 10 years.
If you were able to, this is so easily verified...
'lol'....
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