Comments on: 79% think tax cuts now will be paid for later http://ukpollingreport.co.uk/blog/archives/1697 Opinion polling and political analysis Sat, 11 Feb 2012 20:49:12 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: John Charlesworth http://ukpollingreport.co.uk/blog/archives/1697/comment-page-1#comment-525494 John Charlesworth Tue, 25 Nov 2008 19:01:39 +0000 http://ukpollingreport.co.uk/blog/?p=1697#comment-525494 We should be concerned that we are loading debts onto future generations. Far more than our prdecessors imposed on us. College kids here are saying that ever more loudly. I hope this will induce them to get more involved in politics. We should be concerned that we are loading debts onto future generations. Far more than our prdecessors imposed on us. College kids here are saying that ever more loudly. I hope this will induce them to get more involved in politics.

]]> By: Alasdair Cameron http://ukpollingreport.co.uk/blog/archives/1697/comment-page-1#comment-525463 Alasdair Cameron Tue, 25 Nov 2008 17:01:50 +0000 http://ukpollingreport.co.uk/blog/?p=1697#comment-525463 I just looked at the CIA one. Interesting to see countries like Norway so high.... i would have assumed it was in the lower half. I just looked at the CIA one. Interesting to see countries like Norway so high…. i would have assumed it was in the lower half.

]]> By: Steve Wheeler (Lab) http://ukpollingreport.co.uk/blog/archives/1697/comment-page-1#comment-525442 Steve Wheeler (Lab) Tue, 25 Nov 2008 15:49:18 +0000 http://ukpollingreport.co.uk/blog/?p=1697#comment-525442 Thanks Simon/Anthony - that's a really interesting site. Enough to keep a geek like me occupied for hours. If anyone's interested a table comparing government debt is here:- http://lysander.sourceoecd.org/vl=819855/cl=17/nw=1/rpsv/factbook/100102-g1.htm but it's from 2006 so it's a bit out of date. There's also:- https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html Which is lightly more up to date (2007). Thanks Simon/Anthony – that’s a really interesting site. Enough to keep a geek like me occupied for hours.

If anyone’s interested a table comparing government debt is here:-

http://lysander.sourceoecd.org/vl=819855/cl=17/nw=1/rpsv/factbook/100102-g1.htm

but it’s from 2006 so it’s a bit out of date.

There’s also:-

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html

Which is lightly more up to date (2007).

]]> By: colin http://ukpollingreport.co.uk/blog/archives/1697/comment-page-1#comment-525425 colin Tue, 25 Nov 2008 14:58:44 +0000 http://ukpollingreport.co.uk/blog/?p=1697#comment-525425 "Does anyone believe the Treasury’s figures on future debt? 118 million next year ? No way. More like 150 million." Most comment I have seen & read concentrates on the key assumption-that we will come out of recession in the second half of 2009 & return to 3% growth in 2010. There are also assumptions about tax revenue volumes which seem to be the subject of concern. Brown consistently underestimated his annual deficits & therefore borrowing. By the way I wish the Press would distinguish between Annual Deficit & Cumulative Borrowing. PBR assumes a doubling of current Cumultive Borrowing from around £550bn to £1trillion by 2015. It is only then that Cumulative Borrowing will begin to be repaid-so despite the delayed tax increases we will still be running Annual Deficits for at least the next 7 years . “Does anyone believe the Treasury’s figures on future debt? 118 million next year ? No way. More like 150 million.”

Most comment I have seen & read concentrates on the key assumption-that we will come out of recession in the second half of 2009 & return to 3% growth in 2010.

There are also assumptions about tax revenue volumes which seem to be the subject of concern.

Brown consistently underestimated his annual deficits & therefore borrowing.

By the way I wish the Press would distinguish between Annual Deficit & Cumulative Borrowing.

PBR assumes a doubling of current Cumultive Borrowing from around £550bn to £1trillion by 2015.

It is only then that Cumulative Borrowing will begin to be repaid-so despite the delayed tax increases we will still be running Annual Deficits for at least the next 7 years .

]]> By: Alasdair Cameron http://ukpollingreport.co.uk/blog/archives/1697/comment-page-1#comment-525419 Alasdair Cameron Tue, 25 Nov 2008 14:34:55 +0000 http://ukpollingreport.co.uk/blog/?p=1697#comment-525419 Steve Wheeler, there is a useful graph on the BBC which shows some actual data: http://news.bbc.co.uk/1/hi/business/7746642.stm As you can see the UK is far from the worst debtor in Europe (one should not include Northern Rock as these assets are valable and are paying returns). Furthermore, although the £118 billion will put the borrowing level very high, it is not a much higher percentage of GDP than in 1993, and is forecast to fall further. The real gamble seems to be how quickly the economy can recover... Steve Wheeler, there is a useful graph on the BBC which shows some actual data:

http://news.bbc.co.uk/1/hi/business/7746642.stm

As you can see the UK is far from the worst debtor in Europe (one should not include Northern Rock as these assets are valable and are paying returns). Furthermore, although the £118 billion will put the borrowing level very high, it is not a much higher percentage of GDP than in 1993, and is forecast to fall further. The real gamble seems to be how quickly the economy can recover…

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