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The deficit wasn't going to continue spiralling up indefinitely and it didn't take into account the fact that austerity could have stunted growth quite severely. Compare the EU and UK to the USA, which one struggled for growth? Which used austerity? There is history of austerity in the last and every time it had been in place, the economy had faltered. I cannot think of an austerity economy that has grown well. If the government wants to reduce its bill then it should go all the way in and sell off the public liabilities and let the private sector deal with the costs. If it wants to keep it in public ownership then it needs to properly find it. The issues with the NHS and our appalling productivity shows what happens in an austerity economy. Another 10 years of that and we could start severely lagging behind.

The USA practiced more austerity between 2010 and 2014 than the UK and Euro average did and grew quicker?

There's a weak correlation there between austerity and poor economic growth
screenshot-2015-04-13-at-12-12-31-pm.png

https://fortune.com/2015/04/13/austerity-spending-economic-growth/
 
The deficit wasn't going to continue spiralling up indefinitely and it didn't take into account the fact that austerity could have stunted growth quite severely. Compare the EU and UK to the USA, which one struggled for growth? Which used austerity? There is history of austerity in the last and every time it had been in place, the economy had faltered. I cannot think of an austerity economy that has grown well. If the government wants to reduce its bill then it should go all the way in and sell off the public liabilities and let the private sector deal with the costs. If it wants to keep it in public ownership then it needs to properly find it. The issues with the NHS and our appalling productivity shows what happens in an austerity economy. Another 10 years of that and we could start severely lagging behind.

The USA practiced more austerity between 2010 and 2014 than the UK and Euro average did and grew quicker?

"As you can see, there is a very weak correlation between fiscal austerity and slower economic growth"
screenshot-2015-04-13-at-12-12-31-pm.png

https://fortune.com/2015/04/13/austerity-spending-economic-growth/
 
Watched Andrew Marr's documentary of Britain post WW2 and how Keynes was sent to America to ask for a loan because Britain was effectively bankrupt. We got one after having to meet certain conditions like relaxing sterling's exchange rate control. But it took us until 2006 to pay it off, plus the interest, which I found quite shocking.

Keynes died shortly after returning from his trip.

It's going to be a hell of a lot we've got to borrow to get us through this crisis. Yes, some taxes will have to go up unfortunately and tax reliefs for those who can afford it like higher rate/additional rate pension reliefs should be scrapped IMO. But I am not sure there is the mood to for austerity like we had in 2010.
 
Copy/paste in please?
Yeah sorry the link was sent to us from work. Forgot the FT is subscription only.

Essentially said numerous taxes can be increased, which is no surprise really. It's the decision on who the burden should be placed on more. Logically and equitably it should be the most wealthy, but this is Tory government, which has to appease it's wealthy, older conservative voters.

Rishi will have some tough choices to make to appease Bojo, which I suppose is one of the reasons why Bojo put him there to begin with as he was more malleable compared to his predecessor.

Here's a free one from the BBC. https://www.bbc.co.uk/news/business-52663523:)
 
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Seen a few articles recently talking about Brexit, mostly because the EU said the UK needed to start building customs posts in Northern Ireland.

Imagine the state of the UK after having to deal with coronavirus then a No Deal Brexit
 
Phew, all the news coming out recently about Obama and his minions is stinking up the place.



My prediction is that when this runs it's course, Obama's legacy will be in tatters and he will be exposed for the slippery forked tongue politician that he has always been. Buckle up!




https://www.theguardian.com/us-news...-concerns-about-attorney-generals-legal-reach

Who heads up the DoJ? William Barr. Who nominated Barr after Sessions was sacked? Trump. Who confirmed Barr's appointment? A Republican majority Senate.

Obama did nothing wrong and Trump knows it. And it is very worrying he is using Barr as his "minion" to do his dirty work to go after Obama, who he has never liked because he was a competent Black POTUS, unlike he is an incompetent white POTUS.

And why now create this fiction? Yeah, it's so not to create a diversion and appeal to his conspiracy loving members of his base, that he is the victim during the worst global pandemic in a century because he ignored early warnings to get his country prepared because he was more worried about the stock market. Where currently 1.4m Americans have been infected and 88,000+ have died. 36m + Americans filing for unemployment benefit in 2 months.:rolleyes: He needs to create a new narrative that he is yet again the victim instead of leading his country out of this crisis.

US politics is now pretty much gutter politics and Trump and the GOP have dragged it down to that level.
 
I found it strange the #donkeygate was trending on Twitter, until I discovered it was lived to a Mail on Sunday piece about Sir Keir Starmer.

Apparently, as the Mail on Sunday write, Sir Kier has land which could sell for £10 million, so he's hardly 'of the people'.

In reality he bought the land in 1996 so his Mum could have a donkey sanctuary.

Screenshot_20200517-201331.jpg
 
HAHAHAHAHA.

What a joke the Mail is.

- Only 7 acres
- On a green belt
- No planning permission
- £10m for 70 homes is £143k per house for the plot.
 
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