• This is a political forum that is non-biased/non-partisan and treats every persons position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

UK July Budget Deficit is Lower Than Expected

donsutherland1

DP Veteran
Joined
Oct 17, 2007
Messages
11,691
Reaction score
9,981
Location
New York
Gender
Male
Political Leaning
Centrist
Bloomberg.com reported:

Britain posted a smaller budget deficit in July than economists forecast as stronger economic growth boosted tax receipts, putting the coalition government on course to reduce record levels of borrowing this year.

Net borrowing was 3.17 billion pounds ($5 billion), less than the 4.8 billion-pound median forecast in a Bloomberg News survey of 14 economists, the Office for National Statistics said in London today. In separate data, retail sales jumped 1.1 percent in July, the most in five months, and an index of factory orders rose to a two-year high in August.


Although this data is just for a month, future reports in this direction could indicate that the UK might reduce its budget deficits all the while averting a fresh recession.
 

Republic_Of_Public

DP Veteran
Joined
Sep 16, 2009
Messages
2,922
Reaction score
343
Gender
Male
Political Leaning
Conservative
I bet old spendthrift Gordon will be astonished. After all, he even set a 'tax bomb' to go off in the face of Cameron too, in an attempted spiteful 'win-win' situation! The usual Labour method of using copious extra amounts of taxpayers' money to buy them off at election time as well as wasting even more on kooky and ill-thought out projects.

David Cameron: Brown has left us with ticking tax bombshells | News
 
Last edited:

goodybags88

New member
Joined
Aug 19, 2010
Messages
3
Reaction score
0
Gender
Male
Political Leaning
Liberal
Good luck to Cameron & co.

I can't say I voted for them but the coalition government has won me over with the professional, direct and honest way it has run the UK since Nu Labour left number 10 in May.

I imagine the next 100 days will be crucial in averting a double dip recession or prolonged period of stagnated economic growth.

Online Politics Forum
 

donsutherland1

DP Veteran
Joined
Oct 17, 2007
Messages
11,691
Reaction score
9,981
Location
New York
Gender
Male
Political Leaning
Centrist
I bet old spendthrift Gordon will be astonished.
I remain cautiously optimistic that the UK will avoid a new recession in the near future, even as the UK goes about reducing its budget deficits. While a negative quarter is always a possibility, my guess is that the UK will sustain moderate growth through at least next year. If, in fact, the UK avoids recession and continues to make good progress in reducing its budget deficits, I believe its example will help strengthen the case for launching fiscal consolidation in the U.S. beginning next year.
 

Republic_Of_Public

DP Veteran
Joined
Sep 16, 2009
Messages
2,922
Reaction score
343
Gender
Male
Political Leaning
Conservative
I can't say I voted for them but the coalition government has won me over with the professional, direct and honest way it has run the UK since Nu Labour left number 10 in May.

Only by comparison with the last Labour government:

Government by deceit: Not a day goes by without the Coalition breaking election pledges. They could TRULY be Blair's heirs | Mail Online

Melanie Phillips’s Articles » The EU and the Tories’ broken promises



George Osborne puts tax cuts at heart of election battle | Politics | The Guardian - Did he now?





VAT and other tax goes up and vital economies are slashed... but foreign aid is still untouched and the pension age is kept raised to 68: Tories may hasten rise in pension age to 68 | This is Money

Ethnic displacement, cash rewards for terrorists and rapists getting the vote? The lunacy hasn't ended with Labour's ejection: http://www.debatepolitics.com/europe/78571-brits-would-you-rate-coalition.html#post1058902841

Treason, tax, paedos and 'human rights'. Can't even slip a fag paper...... http://www.debatepolitics.com/europe/78571-brits-would-you-rate-coalition-2.html#post1058904883





They've still got a long way to go to beat the masters, though try they have:

http://www.conservatives.com/News/N...iles/Downloadable Files/hearditallbefore.ashx
 
Last edited:

Lord Tammerlain

DP Veteran
Joined
Jan 25, 2010
Messages
19,015
Reaction score
8,112
Gender
Undisclosed
Political Leaning
Undisclosed
Bloomberg.com reported:

Britain posted a smaller budget deficit in July than economists forecast as stronger economic growth boosted tax receipts, putting the coalition government on course to reduce record levels of borrowing this year.

Net borrowing was 3.17 billion pounds ($5 billion), less than the 4.8 billion-pound median forecast in a Bloomberg News survey of 14 economists, the Office for National Statistics said in London today. In separate data, retail sales jumped 1.1 percent in July, the most in five months, and an index of factory orders rose to a two-year high in August.


Although this data is just for a month, future reports in this direction could indicate that the UK might reduce its budget deficits all the while averting a fresh recession.
I doubt that a double dip is avoidable for the UK or the US for that matter

Realistically the causes of the original recession in either country has not been worked through. In both countries the recession was limited in size due to government deficit spending keeping demand up, as consumers retreated. The consumer side of the equation is no healthier in either country as they are still heavily indedted, and the US has massive unemployement levels that will if not fixed soon cause a large drop in consumer spending leading to another recession

Both countries have been lucky that they have been about to go about qualitative easing which is something Iceland, Ireland and Greece have been unable to do. Should the world wake up to the qualitative easing, and punish the Sterling and Dollar accordingly, they will see a recession quite quickly
 

PeteEU

DP Veteran
Joined
Mar 11, 2006
Messages
34,895
Reaction score
11,912
Location
Denmark
Gender
Male
Political Leaning
Centrist
It is only one month. Come back in a few months and then we can talk :)
 
Top Bottom