Not sure that’s remotely true. If you take the US out of the equation our public spending as a percentage of GDP is below the majority of the western world, especially Europe. Same for debt as a percentage of GDP including the US this time.One of the many reasons our inflation is stickier than our counterparts is our public spending and debt.
Not sure that’s remotely true. If you take the US out of the equation our public spending as a percentage of GDP is below the majority of the western world, especially Europe. Same for debt as a percentage of GDP including the US this time.
The lender's had to do a lot of creeping having squandered in the past with their greed ?UK has run a budget deficit for 23 consecutive years with inflation generally running at round the 2% target more the majority of those. Mucca's point is just his usual tactic of repeating myths printed by the right wing media. If deficits and debt drive inflation, why was it not the case for the preceding two decades?
Which is why I mentioned debt separately and it’s the same story. Our debt as a percentage of GDP is lower than the majority of western countries including the US. Debt and spending is not what drove inflation in UK more than other countries, especially in Europe. The trade barriers we placed between our most natural and nearest trading partners had more effect, especially true of food inflation. Couple that with the energy price cap not being fit for purpose driving inflation and profits for privately owned companies ahead of all else. Then add Truss into the mix (still can’t believe she was allowed anywhere near government let alone the top seat). We were fucked over by flawed ideology. Government spending and debt had very little to zero to do with it. FP is right, the right wing press want you to believe otherwise because the truth is it’s their ideology and the political class they promote that’s to blame.Spending as a % of GDP is not the same thing as debt:GDP ratio.
Service to self?Sir Keir Starmer has revealed a more than £20,000 donation he took from Labour donor Lord Alli was to help his son study for his GCSEs during the election. The revelation comes with the prime minister in New York for a UN summit, while his party's conference concludes in Liverpool.
The chancellor has made decisions which need to be made to sort out the very serious problems in the government finances which we’ve been left with.
And I’m hoping that, over time, this measure will actually reduce pensioner poverty by increasing the take-up of pension credit.
We have seen quite a big boost in the number of people applying for pension credit over the last few weeks, and I think that is likely to continue.
Think you have to ask permission before you download images of Tinder dates matePrison isn’t working for women, Labour says, as it unveils plans for alternatives
Shabana Mahmood tells conference she wants more help in community for offenders and fewer cases going to courtwww.theguardian.com
I wonder how this will be abused.
View attachment 38628
This is beyond belief
Keir Starmer accepted £20,000 of accommodation to help his son study for GCSEs
The prime minister said Lord Alli had provided him somewhere that his son could study ‘peacefully’www.independent.co.uk
Infinite weapons to Ukraine cost a bit more than some Cornflakes and some fuel for the pensioners.In isolation, no of course not. That wasn’t the point and you know full well it wasn’t.
It is clear that you don’t really see a limit to government spending so every issue be it the NHS, public sector pay rises, pensions, winter fuel allowance, education, free school meals can be done away with just more government spending.
He’s one of the working people, dontcha know, his father was a tool maker.This is beyond belief
Keir Starmer accepted £20,000 of accommodation to help his son study for GCSEs
The prime minister said Lord Alli had provided him somewhere that his son could study ‘peacefully’www.independent.co.uk
Explains how Keir was madeHe’s one of the working people, dontcha know, his father was a tool maker.
Tungsten or steel or something harder, not in the sexual sense either!Explains how Keir was made
So thus Truss then, for a different reason though?UK has run a budget deficit for 23 consecutive years with inflation generally running at round the 2% target more the majority of those. Mucca's point is just his usual tactic of repeating myths printed by the right wing media. If deficits and debt drive inflation, why was it not the case for the preceding two decades?
UK has run a budget deficit for 23 consecutive years with inflation generally running at round the 2% target more the majority of those. Mucca's point is just his usual tactic of repeating myths printed by the right wing media. If deficits and debt drive inflation, why was it not the case for the preceding two decades?
It’s ok to disagree but to deride anything you don’t like as ‘myths’ and ‘right wing’ is just not discussing a topic in good faith.Explain how public debt fuels inflation.
Infinite weapons to Ukraine cost a bit more than some Cornflakes and some fuel for the pensioners.
It’s funny what’s deemed a priority.
So he moved in to the flat so that his son’s study for GCSE would not be disrupted by an unexpected election.This is beyond belief
Keir Starmer accepted £20,000 of accommodation to help his son study for GCSEs
The prime minister said Lord Alli had provided him somewhere that his son could study ‘peacefully’www.independent.co.uk
Presumably if his son goes in to politics, he can claim with justification that his father was a tool.Explains how Keir was made
Something that appears to be one thing whilst being something entirely different. Iron pyrite - fools gold - perhaps.Tungsten or steel or something harder, not in the sexual sense either!
Not if you’ve been paying attention.It sounds like you’ve got some buyers remorse Ian?
Well, the winter fuel allowance will change things for many pensioners. Let’s hope for a warm winter.
In isolation, no of course not. That wasn’t the point and you know full well it wasn’t.
It is clear that you don’t really see a limit to government spending so every issue be it the NHS, public sector pay rises, pensions, winter fuel allowance, education, free school meals can be done away with just more government spending.
It’s ok to disagree but to deride anything you don’t like as ‘myths’ and ‘right wing’ is just not discussing a topic in good faith.
I’ve not said that increases in public spending will definitely always cause inflation. These things are contextual and 2010 to 2024 was characterised by a government committed to reducing a deficit that had been reduced from the state Labour had left in 2010.
Anyway, onto the question you posed. In short, government spending contributes to aggregate demand in the economy which will risk inflation. There are two examples that come to mind. 1) the government’s COVID response for businesses as well as individuals (along with debt holidays etc). The economy was overheating at time it should’ve slowed. 2) Quantative Easing, the headline inflation rate (CPI) remained quite low between 2010-2020, the increase of assets prices have been quite staggering. Specifically, in housing where the costs to buy a mouse and maintain a mortgage has increased significantly over that period too. Which is an outlier considering growth has slowed.
It’s ok to disagree but to deride anything you don’t like as ‘myths’ and ‘right wing’ is just not discussing a topic in good faith.
I’ve not said that increases in public spending will definitely always cause inflation. These things are contextual and 2010 to 2024 was characterised by a government committed to reducing a deficit that had been reduced from the state Labour had left in 2010.
Anyway, onto the question you posed. In short, government spending contributes to aggregate demand in the economy which will risk inflation. There are two examples that come to mind. 1) the government’s COVID response for businesses as well as individuals (along with debt holidays etc). The economy was overheating at time it should’ve slowed. 2) Quantative Easing, the headline inflation rate (CPI) remained quite low between 2010-2020, the increase of assets prices have been quite staggering. Specifically, in housing where the costs to buy a mouse and maintain a mortgage has increased significantly over that period too. Which is an outlier considering growth has slowed.
As @fernandopartridge suggested, there will be some beds blocked in the NHS over winter.Some Say Keir Starmer Doesn't Have a Plan.
As Baldrick Says in Blackadder, "I Have a Cunning Plan" Let the Pensioner's Freeze to Deathso the Government Can Save Money on the State Pension.
I’ll be honest, I haven’t been paying close attention to your mood on the new government.Not if you’ve been paying attention.
There is no cast iron economic laws because if there was there’d be no need for politics. Keynesians believe that increasing aggregate demand won’t cause inflation, monetarists believe the exact opposite in the long run.Some of that stuff costs more to cut than not. Our problem is not looking productive in the future thanks to this kind of thinking more than too much debt meaning we won’t be able to borrow.
Covid inflation was supply chain and energy based, house price inflation is down to supply restriction.
You haven’t answered his basic question which is why if this is such a cast iron law of economics we don’t see it in the data at all.
I’ll be honest, I haven’t been paying close attention to your mood on the new government.
There is no cast iron economic laws because if there was there’d be no need for politics. Keynesians believe that increasing aggregate demand won’t cause inflation, monetarists believe the exact opposite in the long run.
My only point, starting off, was the increased public spending contributed (i.e. one of many factors) to our stickier inflation.
Interesting to see James O’Brien performing mental gymnastics to justify all the private donations to Labour politicians. Why is it so hard to call a spade a spade?
The forum’s answer to Wes StreetingIt’s bollocks if we’re honest.
The YouTube donation and change to the DST, genuinely concerning. £4m from hedge fund, less concerning but still likely to be influencing policy.
Instead people are going after a guy lending money to his sisters best mate and offering out his flat to a 16 year old.
It’s so very obviously party political because they’re staying away from the actual issues of money in politics and pretending having a rich mate is the problem. And that’s because if they actually went after large cash donations the Tories would be fucked.
No. People don’t want taxpayer funded political parties. They don’t want people to play by the rules. It’s just kicking Labour cos it’s Labour.
There: a spade.
Interesting to see James O’Brien performing mental gymnastics to justify all the private donations to Labour politicians. Why is it so hard to call a spade a spade?
The forum’s answer to Wes Streeting
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?