Growth

[baggy1]

I think it emphasises the lost opportunities of the last couple of decades and the mistakes made. When a government comes to power and there are very few levers to pull that haven't been snapped off then it is going to be an uphill struggle.

[CarlosCorbewrong]

The OBR is guesswork too. Nothing changes the fact that for public spending to stand still without further borrowing or tax rises then Reeves needs 2%+

Let’s please also dispense with this narrative that I haven’t raised this before. It was a central plank of the IFS criticism of the job destroying Budget last Autumn.

Have a whoosh you tit. 

You talk about fuck all else. Especially now that the Israel apologist stuff has stopped.

We're about 3 pages of whooshes in, so far.

[Protheroe]

I think it emphasises the lost opportunities of the last couple of decades and the mistakes made. When a government comes to power and there are very few levers to pull that haven't been snapped off then it is going to be an uphill struggle.

Oh. That's a remarkably different narrative than the one Labour was elected on.

[baggy1]

You’ll have to remind me of the last government that delivered what they were elected on. Oh, yeah - get Brexit done. That turned out well.

Labour are sweeping up your mess Proth.

[Protheroe]

Are they indeed.

[Protheroe]

Labour are sweeping up your mess Proth.

Sweeping up the mess, or merely doing what Labour governments have been doing since time immemorial?
https://www.bbc.co.uk/news/articles/c3e55l8zx4go

Watch your wallets. They will be coming for us all again shortly.

"Tax receipts were more than £5bn higher, in part due to increases in National Insurance contributions paid by employers.

But government expenditure also rose, largely due to pay rises, higher costs due to inflation, and increases in pensions and other benefits.

The ONS also said that borrowing for the financial year that ended in March is now estimated to be £148.3bn, which is £3.7bn less than initially thought.

However, the figure is still £11bn more than expected by the UK government's independent forecaster, the Office for Budget Responsibility."

[baggy1]

Any article that states the tax receipts were higher in part due to a tax that would have shown no receipt until the following month needs to be viewed with caution. The extra receipts would more than likely be down to the extra payments of stamp duty due to the March deadline.

It makes the decision on WFA even more surprising as they had ridden the storm and could have solved that with something around raising of thresholds for pensioners if not everyone. The reduction in spending, and giving away free money where it isn't needed, becomes even sharper now unfortunately.

The historical damage caused by interest on debt is going to be the biggest driver here that is uncontrollable now. I am surprised that you are averse to any personal tax raises as that is what you proposed when the employers NI raise was introduced.

Tough decisions ahead as the last couple of decades have cleaned out the pantry.

[Protheroe]

Any article that states the tax receipts were higher in part due to a tax that would have shown no receipt until the following month needs to be viewed with caution. The extra receipts would more than likely be down to the extra payments of stamp duty due to the March deadline.

It makes the decision on WFA even more surprising as they had ridden the storm and could have solved that with something around raising of thresholds for pensioners if not everyone. The reduction in spending, and giving away free money where it isn't needed, becomes even sharper now unfortunately.

The historical damage caused by interest on debt is going to be the biggest driver here that is uncontrollable now. I am surprised that you are averse to any personal tax raises as that is what you proposed when the employers NI raise was introduced.

Tough decisions ahead as the last couple of decades have cleaned out the pantry.

Where was your support whenever I posted about the monumental growth of debt between 2008-2024? It wasn't exactly difficult to be a canary in the coalmine.

I am averse to any MORE personal tax increases on income, as essentially the Employers NI increase and endless fiscal drag is doing the heavy lifting on suppressing job availability and wage growth anyway.

The Guardian this morning is calling for the relaxation of Reeves "Ironclad" fiscal rules, which with elevated inflation and a slower than necessary reduction in interest rates appears largely inevitable now. How she'd have the front to survive that after all the tough-talking bullshit since July 2024 is beyond me.

More Tax. More Borrowing. Same old government. Red or Blue.

[baggy1]

Why did you need support? I’m not certain anyone disagreed on that point. It’s not like you were the lone avenger speaking out when others didn’t realise.

[Protheroe]

I’m not certain anyone disagreed on that point. It’s not like you were the lone avenger speaking out when others didn’t realise.

Plenty of people did. Because the alternative to spaffing printed money is to actually take real choices on what government is and isn't for, and taking responsibility for the future.

We're still kicking the can down the road on debt, and I suspect it's about to get worse.