News Analysis: UK budget plans will mean an extra year of austerity

[webfact]

News Analysis: UK budget plans will mean an extra year of austerity
Source: Xinhua

LONDON, March 18 (Xinhua) -- The UK budget unveiled on Wednesday will mean an extra year of cuts to public services, according to the Institute of Fiscal Studies (IFS).

The IFS, an economics think-tank in London, on Thursday made public its examination of Wednesday's budget from Britain's Chancellor George Osborne.

Carl Emmerson, the deputy director of the IFS, told Xinhua that the cuts to the UK government's spending which began in 2010 under Chancellor Osborne will now have to continue for an extra year than originally planned in order to hit the government's target of balancing its spending with its income.

Full story: http://news.xinhuanet.com/english/2016-03/18/c_135199299.htm

-- Xinhua 2016-03-18

[jpinx]

Why try to balance spending against income? No other country does that.

[NeverSure]

The UK's national debt has ballooned to be about the same as that of the US as a percentage of GDP. The problem is that the UK doesn't have the natural resources or the economic engine the US has to support it.

Now the UK has all of these new "diversity" people to support instead of focusing on its own people. The socialism has become unsustainable as socialism always does. People will always want to come in to get the "free" stuff just as we have been seeing and they'll overload the system.

See ya, UK.

[RabC]

The UK's national debt has ballooned to be about the same as that of the US as a percentage of GDP. The problem is that the UK doesn't have the natural resources or the economic engine the US has to support it.

Now the UK has all of these new "diversity" people to support instead of focusing on its own people. The socialism has become unsustainable as socialism always does. People will always want to come in to get the "free" stuff just as we have been seeing and they'll overload the system.

See ya, UK.

And apart from bigotry what did you comment add to the thread. Feel better now you have had a good Brit Bash?

[baboon]

The UK's national debt has ballooned to be about the same as that of the US as a percentage of GDP. The problem is that the UK doesn't have the natural resources or the economic engine the US has to support it.

Now the UK has all of these new "diversity" people to support instead of focusing on its own people. The socialism has become unsustainable as socialism always does. People will always want to come in to get the "free" stuff just as we have been seeing and they'll overload the system.

See ya, UK.

I would remind you it is capitalism that got us into this economic mess. Again. I don't think you will encounter too many socialist investment bankers.

[Pimay1]

The UK's national debt has ballooned to be about the same as that of the US as a percentage of GDP. The problem is that the UK doesn't have the natural resources or the economic engine the US has to support it.

Now the UK has all of these new "diversity" people to support instead of focusing on its own people. The socialism has become unsustainable as socialism always does. People will always want to come in to get the "free" stuff just as we have been seeing and they'll overload the system.

See ya, UK.

I wonder if the cuts will apply to UK citizens only? If they apply to the "diversity" people there could be riots in the streets.

[Roomuck]

The poms could learn a lot from the Thais on how to run an economy. Thailand has MASSIVE foreign reserves, negative unemployment ( 3 million Laotian, Burmese and Cambodians, just to make up the shortfall), a huge manufacturing industry, a booming tourist industry, a huge agricultural sector, higher growth, doesn't tax it's working class to subsidise the bludgers who don't work, doesn't let new immigrants become a financial burden, much lower taxes, affordable housing with little red tape, cheap food and clothing, etc. etc.

The girls here are a lot more attractive also, but I don't think that is because of the government?

Very clever people these Thais.

Edited March 18, 2016 by Roomuck

[Thongkorn]

The poms could learn a lot from the Thais on how to run an economy. Thailand has MASSIVE foreign reserves, negative unemployment ( 3 million Laotian, Burmese and Cambodians, just to make up the shortfall), a huge manufacturing industry, a booming tourist industry, a huge agricultural sector, higher growth, doesn't tax it's working class to subsidise the bludgers who don't work, doesn't let new immigrants become a financial burden, much lower taxes, affordable housing with little red tape, cheap food and clothing, etc. etc.
The girls here are a lot more attractive also, but I don't think that is because of the government?

Very clever people these

How do you learn from County's you tought.

[NeverSure]

The poms could learn a lot from the Thais on how to run an economy. Thailand has MASSIVE foreign reserves, negative unemployment ( 3 million Laotian, Burmese and Cambodians, just to make up the shortfall), a huge manufacturing industry, a booming tourist industry, a huge agricultural sector, higher growth, doesn't tax it's working class to subsidise the bludgers who don't work, doesn't let new immigrants become a financial burden, much lower taxes, affordable housing with little red tape, cheap food and clothing, etc. etc.

The girls here are a lot more attractive also, but I don't think that is because of the government?

Very clever people these Thais.

Thailand doesn't have socialism. It has capitalism. Every food cart, every farm, and every home based small business is capitalism. Free enterprise. If Somchai fails he has to fall back on family because there is no welfare state.

Where Thailand has failed is in education. The people don't have technology so they have food carts. Somchai doesn't speak English so he can't do international trade, not even on Ebay worldwide. I know Americans who've gotten wealthy importing goods and selling on ebay and I assume it's happened in other countries. The Chinese who are engaged in trade speak English. Catalogs are written in English.

The OP is about austerity. Of course there has to be austerity. The government can NEVER keep promises to support its people.

The people have to support the government. What's so hard about that to understand?

[Scott]

An off-topic post has been removed.

[Roomuck]

The poms could learn a lot from the Thais on how to run an economy. Thailand has MASSIVE foreign reserves, negative unemployment ( 3 million Laotian, Burmese and Cambodians, just to make up the shortfall), a huge manufacturing industry, a booming tourist industry, a huge agricultural sector, higher growth, doesn't tax it's working class to subsidise the bludgers who don't work, doesn't let new immigrants become a financial burden, much lower taxes, affordable housing with little red tape, cheap food and clothing, etc. etc.

The girls here are a lot more attractive also, but I don't think that is because of the government?

Very clever people these Thais.

Thailand doesn't have socialism. It has capitalism. Every food cart, every farm, and every home based small business is capitalism. Free enterprise. If Somchai fails he has to fall back on family because there is no welfare state.

Where Thailand has failed is in education. The people don't have technology so they have food carts. Somchai doesn't speak English so he can't do international trade, not even on Ebay worldwide. I know Americans who've gotten wealthy importing goods and selling on ebay and I assume it's happened in other countries. The Chinese who are engaged in trade speak English. Catalogs are written in English.

The OP is about austerity. Of course there has to be austerity. The government can NEVER keep promises to support its people.

The people have to support the government. What's so hard about that to understand?

Thai people don't have technology, they have food carts????????

Can't do international trade????? So all those container ships at Lawm Chabang are not full of Thai made cars and electronic goods as I suspected, but they are full of food carts! Amata city hundreds of factories churning out food carts.

The big picture?

And if John Smith fails he falls back on the taxpaying families, not his own.

Why don't the poms all become wealthy on eBay to get out of these austerity measures? I hear they speak English quite well.

[NeverSure]

The poms could learn a lot from the Thais on how to run an economy. Thailand has MASSIVE foreign reserves, negative unemployment ( 3 million Laotian, Burmese and Cambodians, just to make up the shortfall), a huge manufacturing industry, a booming tourist industry, a huge agricultural sector, higher growth, doesn't tax it's working class to subsidise the bludgers who don't work, doesn't let new immigrants become a financial burden, much lower taxes, affordable housing with little red tape, cheap food and clothing, etc. etc.

The girls here are a lot more attractive also, but I don't think that is because of the government?

Very clever people these Thais.

Thailand doesn't have socialism. It has capitalism. Every food cart, every farm, and every home based small business is capitalism. Free enterprise. If Somchai fails he has to fall back on family because there is no welfare state.

Where Thailand has failed is in education. The people don't have technology so they have food carts. Somchai doesn't speak English so he can't do international trade, not even on Ebay worldwide. I know Americans who've gotten wealthy importing goods and selling on ebay and I assume it's happened in other countries. The Chinese who are engaged in trade speak English. Catalogs are written in English.

The OP is about austerity. Of course there has to be austerity. The government can NEVER keep promises to support its people.

The people have to support the government. What's so hard about that to understand?

Thai people don't have technology, they have food carts????????

Can't do international trade????? So all those container ships at Lawm Chabang are not full of Thai made cars and electronic goods as I suspected, but they are full of food carts! Amata city hundreds of factories churning out food carts.

The big picture?

And if John Smith fails he falls back on the taxpaying families, not his own.

Why don't the poms all become wealthy on eBay to get out of these austerity measures? I hear they speak English quite well.

The things you mention that Thailand is exporting belong to someone else such as a foreign manufacturer.

The OP is about austerity. Eventually there will always be austerity after a government promises to support its people. Europe will be like dominoes. Greece is the canary in the coal mine. There is no way the UK can keep its promises to its people long term. Just watch.

Cheers.

[smutcakes]

Thai people don't have technology, they have food carts????????

Can't do international trade????? So all those container ships at Lawm Chabang are not full of Thai made cars and electronic goods as I suspected, but they are full of food carts! Amata city hundreds of factories churning out food carts.

The big picture?

And if John Smith fails he falls back on the taxpaying families, not his own.

Why don't the poms all become wealthy on eBay to get out of these austerity measures? I hear they speak English quite well.

The things you mention that Thailand is exporting belong to someone else such as a foreign manufacturer.

The OP is about austerity. Eventually there will always be austerity after a government promises to support its people. Europe will be like dominoes. Greece is the canary in the coal mine. There is no way the UK can keep its promises to its people long term. Just watch.

Cheers.

What promises are you referring to?

[sirineou]

The current economic downturn is a consumption side problem,

Austerity does not increase consumption it decreases it.

Targeted stimulus is needed to increase consumption.Stimulus to industry to increase production is stupid IMO , if the consumption side demand does not exist .

Poor people spend 100% of their income locally. Targeted stimulus toward poor people is returned in the local economy and amplified via the multiplier affect, increasing consumer demand, and stimulating manufacturing,

Sorry about the dry response, it is not meant to be didactic, just an attempt toward a cogent response with out peripheral distractions.