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

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...

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 !.

Remember this

www.nationaldebtclock.co.uk

Over 50% borrowed by the Tories


In only 8 years...

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...

In The Know (as always !) wrote:
... 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).

People should remember that it is accumulated debt; everytime that Labour failed to pay it back during the 1990s and also borrowed more just to pay the interest, the total rose. The following year's interest was therefor even higher - and needed even more borrowing.

The Coalition, who only came to power just over 7.5 years ago, were saddled with those debts and the huge ever increasing interest payments. We have had to borrow, adding to the debt, ever since.

In The Know (as always !) wrote:
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 !.

oh, so true

PB wrote:
We have had to borrow, adding to the debt, ever since.


Just to pay the interest?

Spee wrote:
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...





The 'Magic Money Tree' will one day grow.

Don't forget that the Tories will have to pay DUP first.

Yes Andrew - £1 billion a year

And will inevitably rise

When May's path is blocked

PB wrote:
People should remember that it is accumulated debt; everytime that Labour failed to pay it back during the 1990s and also borrowed more just to pay the interest, the total rose. The following year's interest was therefor even higher - and needed even more borrowing.

Give up, PB - they couldn't understand Brexit either !!!!!

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...

In The Know wrote:
Give up, PB - they couldn't understand Brexit either !!!!!

Don't worry, PB ... a (white) van will be along shortly .... lol !

Spee wrote:
And why completely ignore the hundreds of millions of National Debt left by the Major government in 1997?


Sadly you will just ignore this - as you didn't even know about it, and are incapable of finding the figure out!

This is as clear as anyone could make it


www.taxresearch.org.uk/Blog/2017/11/27/t...e-uks-national-debt/


65% of the National Debt - since 1946 - was due to Conservative Party borrowing


I do hope that you - ITK - are able to take, at least, some of it in...

In The Know wrote:
Don't worry, PB ... a (white) van will be along shortly .... lol !

Sorry ... the van has been delayed in Salisbury but will be along soon !

But I somehow doubt it!


'lol'

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'....

And I think, yet again, you've made your point Spee and ITK has made his - never the twain shall meet. Enough's enough for the moment on this topic.