Budget 2010

vimothy

vimothy

yurp
If the pound does plummet, what happens to the foreign denominated debt that the UK banks hold (4 * GDP, IIRC)? Could be a bad time to be a giant hedge fund state.

See also: Iceland.
 
vimothy

vimothy

yurp
Oh shit:

Fastest deficit reduction plan of any G7 economy

Bulk of structural deficit will be removed by end of next parliament - will fall from 8.4% of GDP in 2009/10 to 2.5 per cent by 2014/15

Defecit to fall from 11.8 per cent in 2009-10 to 5.2 per cent in 2014-15
Click to expand...

To be replaced with...?
 
hucks

hucks

Your Message Here
vimothy said:
Oh shit:

Fastest deficit reduction plan of any G7 economy

Bulk of structural deficit will be removed by end of next parliament - will fall from 8.4% of GDP in 2009/10 to 2.5 per cent by 2014/15

Defecit to fall from 11.8 per cent in 2009-10 to 5.2 per cent in 2014-15

To be replaced with...?
Click to expand...

Alistair Darling said:
Asset sales will also make a "significant contribution" to reducing debt
Click to expand...

Which assets are they, then? Is the Tote still state owned? Ah - banks.
 
vimothy

vimothy

yurp
Ha!
Asset sales under way. Banks have been appointed to sell student loan book, government is finalising options for the Tote and the Dartford Crossing is on course to be privatised later this year
Click to expand...
 
hucks

hucks

Your Message Here
the budget said:
An investment bank, controlling £2bn of equity, will be set up to fund green transport and energy initiatives. Some £60m will be spent helping ports develop for the manufacture of wind turbines. (This is something Nick Clegg proposed earlier this year, I seem to remember.)
Click to expand...

This is exactly what the govt should be doing right now. No investment is coming from private business, who are all paying down debt.
 
vimothy

vimothy

yurp
Not sure about this education fund. Aren't Labour planning to cut ed spending 10% over the next parliamentray period? What is the net change?
 
vimothy

vimothy

yurp
hucks (anyone really): do you know where I can see the rational for the Treasury growth forecasts referred to in the budget (e.g. below)?

budget2010_chart_b4.jpg


Also, is there anywhere I can see an up-to-date version of that sectoral balances graph your boss used without having to make it myself?

Ta
 
hucks

hucks

Your Message Here
vimothy said:
hucks (anyone really): do you know where I can see the rational for the Treasury growth forecasts referred to in the budget (e.g. below)?

budget2010_chart_b4.jpg


Also, is there anywhere I can see an up-to-date version of that sectoral balances graph your boss used without having to make it myself?

Ta
Click to expand...

On the first one, is the graph itself from the red book? I've never actually known the forecasts to be explained, though. They just, um, are

On the second one - he drew it himself, so I don't think there is one kicking around.
 
vimothy

vimothy

yurp
Yeah, the graph's from the red book. I think that the forecast is pretty weird. Where is that growth coming from? If the economy doesn't bounce back as if by magic, are we still goiing to cut the deficit? There is also a law: the Fiscal Responsibility Act 2010.

On the second one - he drew it himself, so I don't think there is one kicking around.
Click to expand...

Damn.

Well, anyway, I don't see net exports doing it. Corporations need to invest some of that saving, but they're not going to do so in an anemic economy. Is the forecast predicated on corporate sector investment, I wonder?
 
C

crackerjack

Well-known member
So what's the verdict? The likes of the Economist and Times (ie Nu Lab, but probably about to go Tory) seem pretty sniffy, but the markets are mildly upbeat. Is that just cos he didn't lead with kill the bankers?
 
You must log in or register to reply here.
Top