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The Autumn Statement

RidingPie

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Griff9of13

Griff9of13

Posted
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The Brexit blackhole appears to now be £122bn

You're not allowed to attribute it to brexit - it might have happened anyway. (The rules according to brexiteers). :dry:

"it is a well known fact that those people who most want to rule people are, ipso facto, those least suited to do it."

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John Drake

John Drake

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So far the chancellor seems to be suggesting:

 

Slower growth

Higher inflation

Higher borrowing

 

not sounding good!

 

Is he taking responsibility on behalf of the Tory Party for any of this?

.

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Bleep1673

Bleep1673

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So landlords will just put up their rent to offset this. No gain for the consumer

 

It means Landlords will shop around for the cheapest deal, whereas tenants can't, we will still pass on the fees in higher rental charges, and the only beneficials are people who can afford to buy their own home. and of course Estate Agents, again.

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Spidey

Spidey

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It means Landlords will shop around for the cheapest deal, whereas tenants can't, we will still pass on the fees in higher rental charges, and the only beneficials are people who can afford to buy their own home. and of course Estate Agents, again.

So good for landlords, no benefit to tennants

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John Drake

John Drake

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I'm sure they'll blame the Lib Dems as the junior partners in the coalition

 

It's their own 'long term economic plan' they've tossed out of the window, the one they got elected on less than two years ago.

.

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JonM

JonM

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You're not allowed to attribute it to brexit - it might have happened anyway. (The rules according to brexiteers). :dry:

 

The OBR that prepared the forecasts has attributed a portion to Brexit - they helpfully broke it down for the chancellor. They're a good bit less negative than the BoE forecasts though.

 

The rise in the deficit/ public sector borrowing is the big story here. UK national debt was 35% of GDP in 2007, 84% of GDP today, forecast to be over 90% by next year.

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Saint Toppy

Saint Toppy

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The OBR that prepared the forecasts has attributed a portion to Brexit - they helpfully broke it down for the chancellor. They're a good bit less negative than the BoE forecasts though.

 

The rise in the deficit/ public sector borrowing is the big story here. UK national debt was 35% of GDP in 2007, 84% of GDP today, forecast to be over 90% by next year.

This isn't just a British problem though, its happening globally to most of the major economies. The sum may be high but as a percentage its still less than most of the other major economies in Europe. Of the Big economies only Germany has a lower percentage but like the UK that's also growing.

Brexit or no Brexit result it would have gone up.

St.Helens - The Home of record breaking Rugby Champions

 

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Robin Evans

Robin Evans

Posted
Posted

£7m tax payers wad given towards the refurb of Wentworth Woodhouse.....

I'd soon see that spent towards social regeneration of a desperately deprived area.... but hey ho.... a lot of locals appear happy with our own version of Buck house is finally getting a wash....

"I love our club, absolutely love it". (Overton, M 2007)

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JonM

JonM

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Brexit or no Brexit result it would have gone up.

 

Well, clearly, as most of the rise was the result of the 2007-8 crash - just the bank bailout accounts for about 8% of it. Brexit is just making a bad situation worse and pushing out any chance of reducing the debt by many years, it's certainly not the main cause. 

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Bedford Roughyed

Bedford Roughyed

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£60 million a year for grammar schools to expand.  

With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on!

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Bedford Roughyed

Bedford Roughyed

Posted
Posted


So to be clear, Brexit impact on public finances is a deterioriation of £220bn by end of parliament. Worse than feared #AutumnStatement


 


With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on!

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Bedford Roughyed

Bedford Roughyed

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So good for landlords, no benefit to tennants

 

 

I think they did this in Scotland a while ago, anyone know if the effect was studied?

With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on!

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Saintslass

Saintslass

Posted
Posted

 

So to be clear, Brexit impact on public finances is a deterioriation of £220bn by end of parliament. Worse than feared #AutumnStatement

 

 

That's based on OBR assumptions, assumptions the OBR themselves clearly stated they were making and which even the BBC, not known for using caveats, suggested we take with a large pinch of salt (on their live Autumn Statement commentary). 

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Bedford Roughyed

Bedford Roughyed

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That's based on OBR assumptions, assumptions the OBR themselves clearly stated they were making and which even the BBC, not known for using caveats, suggested we take with a large pinch of salt (on their live Autumn Statement commentary). 

 

 

OBR assumptions that were good enough to plow ahead for years of austerity.  Good enough to base budgets on.  Good enough to cut corporation taxes.  

 

Will be 10 years of tory spending plans to cut the deficit and we will be no where near the target.   National debt is rising not falling.

With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on!

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Griff9of13

Griff9of13

Posted
Posted

Assumptions that have to be made because the government has failed to provide any clarity with regards to what they're actually aiming for, beyond soundbites about how negotiating exit from a politico-economic union is like playing a hand of poker. The forecasts from the OBR are actually more positive than the Bank of England and the International Monetary Fund, so it can hardly be argued that they're being especially pessimistic.

Please refer to post #6 above.

"it is a well known fact that those people who most want to rule people are, ipso facto, those least suited to do it."

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