Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Shackeng on 19 March 2012, 19:21:05
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A report this weekend stated that Government borrowing is going to undershoot by £126 billion (or some such figure), however the Government is not going to 'distribute' this as tax reliefs etc. but is going to 'bank' it! Could someone explain how you bank money that you haven't borrowed, as it sounds a good wheeze. :-\ :-\ :-\
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My understanding is that they are going to undershoot their borrowing target by £9bn.
They should use the saving to decrease the amount the national debt rises by. :y
The National debt is expected to peak around 92-95% GDP in 2015 to 2017 which is dangerously close to 100%, which is taken as the maximum before the markets really lose faith in a country so your credit rating drops and your borrowing rises as you enter Greek territory. ::) ::) ::)
As UK growth is consistently worse than Treasury predictions, there is a very real risk it will peak at or over 100%. :o :o :o
This is before you even consider the two longer term elephants in the room, an aging population, which will increase pension, health and welfare costs and another Labour Government.
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My understanding is that they are going to undershoot their borrowing target by £9bn.
They should use the saving to decrease the amount the national debt rises by. :y
The National debt is expected to peak around 92-95% GDP in 2015 to 2017 which is dangerously close to 100%, which is taken as the maximum before the markets really lose faith in a country so your credit rating drops and your borrowing rises as you enter Greek territory. ::) ::) ::)
As UK growth is consistently worse than Treasury predictions, there is a very real risk it will peak at or over 100%. :o :o :o
This is before you even consider the two longer term elephants in the room, an aging population, which will increase pension, health and welfare costs and another Labour Government.
I believe that these figures do not include our debts under PFI, which will almost double it! :(
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Correct.
The figures would also be higher if we used the Eurozone method of calculating debt as they also include other UK off balance sheet things.
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;D
Ask Labour, it was they who introduced this madness while they held power and got the country into the present state where we now all have to suffer for many years to repay the debt they caused.
What was the favorite word of that tosser Brown? it was 'prudence' - bet he could not even spell it because he certainly did not know its meaning. ;)