Autumn Statement. Time for Plan B?

[Gromit]

Austerity isn't working.

Net Debt is rising just as steeply as under Labour.
http://www.goldmadesimplenews.com/wp-content/uploads/2012/04/UK-net-debt-april-20121.png

The economy is flat as a result. No Growth.

Do you believe that there is no alternative?

[rojash]

Ah, but now the money is going to the posh kids instead of the poor - that's the main thing as far as Boy George is concerned.

[Canary42]

But when Labour handed over the economy was growing - then after a couple of months Ozzie's actions killed it dead.

[Old_Geezer]

One can never be sure of the best option, but this austerity hasn't been impressive so far, and I've always been an advocate of filling the coffers in the good times so you can spend to stimulate the economy during the bad. Not that one can go wild spending but targeted spending is the logical option surely. After all who else but the government is willing to put their head above the parapet to risk getting things going again?

[emmie]

alternative, stop giving oodles of dosh to undeserving countries, that would be most, stop giving our money to vanity projects, green so called wind farms, only benefits the makers of wind turbines, and those with loads of land who don't give a monkey's. This money can be used in other directions. Then free up businesses from the endless bureaucracy that pervades it, red tape is killing off many a small to medium business. it is business that employs people, which should, one would hope get them off benefits, and paying tax.
Get the tax office and someone in government with enough clout to take a big stick to the massive corporations like Amazon, starbucks etc who are not paying nearly enough into the coffers.
There is no quick fix, it's long term, and not an easy problem to solve, but we cannot spend our way out of the problem, we have seen all along how that hasn't worked. And those who think it's ok to get the construction industry moving by building ever more houses, new towns, just who has the money to buy a home, and where will they build, on green belt land in the south that is where, yet again. Instead why don't they get the various building contractor companies to refurbish much of what is standing empty, compulsory purchase if necessary, cut major projects like HS2 the rail proposal. it is incredibly expensive, not necessary, and will be very damaging to many who live along the proposed route.
that is right across the country, as opposed to just the major cities.

[emmie]

canary, if the economy was growing when Labour left office why did that MP leave a note for the next man in the job to say the coffers were empty.

[youngmafbog]

Yes, you should always save during the good times to pay for the bad. Unfortunately labour p*ssed it all up the wall on lefty liberal projects.

Is there another choice, yes I think there is but it still must involve austerity. At all costs we need to get public spending down. If anything he should be cutting further, then using a portion of that money to stimulate the economy with infrastructure projects that will help construction and set us up for when the recession ends.

But, as em points out - the coffers were left bare..

[Bazile]

They have been in power now , for over two years .
What are they doing - still familiarising themselves with thier surroundings ?

[emmie]

trying to make tuppence go a long way.

[Kromovaracun]

Paul Krugman provides a handy graph and analysis of British debt history, placing the current levels in context:

krugman.blogs.nytimes.com/2011/12/04/british-
debt-history/


Personally, I'm rather uncomfortable with the fact that 'austerity' has managed to attain the status of absolutely unquestionable truth that it has. British debt is higher than it's been for a while (largely as a result of the financial crisis), but I'm not convinced that the evidence supports the apocalyptic description used by austerity advocates.

Everyone - regardless of which side they are on - knows that growth is the only real thing that will reduce debt. Currently, consumers are not in a position where it is rational for them to spend. Undesirable as it may be, governments seem to be the only group able to invest in the economy on a sufficient scale.

[Zeuhl]

<labour p*ssed it all up the wall on lefty liberal projects. >

Yes, like building schools and hospitals and bailing out the Banks.

<need to get public spending down. ... stimulate the economy with infrastructure projects>

Err which is it YMB?

as Kromo points out <governments seem to be the only group able to invest in the economy on a sufficient scale.>

No business gets out of a hole simply by spending less, that just produces a downward spiral. Cut out waste, then invest in growth even if it means judicious borrowing.

The Tories started off talking a good game but they have actually managed to increase public spending and they've stifled growth

They p1ss around with their ideological vanity projects same as Labour, which make no real difference and waste resources and time.

[pdq1]

With 3 million unemployed and claiming benefits sitting on their backsides it doesn't make sense. There must be some menial work they could do to make the country a better place to live. The olympics was a success because of the army of unpaid volunteers.

[DaisyNonna]

Autumn statement? Excuse me, December is winter. Government too late as usual. All talk, little action.

[NOX]

You can't save your way out a of a recession- even a small child knows that.
I tire of saying we need top spend more, build more, invest in projects to generate money more because people genuinely seems to have been sucked into the mindless idea the Tories have propagated that it's all the fault of the unemployed, chavs, alcoholics, foreigners etc etc etc.
I will say it again you cannot save your way out of a recession.
If anyone's interested have a look at Iceland now, since they locked up their politicians and bankers.....just saying ;-)

[emmie]

agree on some points but look further into the article and you will see a rather different outlook, and did we ever recover the monies that Iceland owed UK

http://www.guardian.co.uk/world/2012/nov/23/iceland-recovers-voice-financial-crisis

[emmie]

can you imagine if our banks had been let fail, not sure how that would have worked at all.

[NOX]

Iceland are repaying the principle sums as stated in the article Em1, and to be honest they've done more right than wrong given what they had to work with.
This government we have here is just a right of centre middle class elitist embarrassment who are flaying the backs of the most needy people of this country in an effort to make miracles happen. I will say it yet again, how can anyone with any historical knowledge of financial distasters in developed countries possibly believe you can save your way out of a recession?

[Quizmonster]

"With 3 million unemployed and claiming benefits sitting on their backsides..."

Two or three months ago, a motor company advertised 100 jobs and got 1,000 applicants. I suppose the 900 unsuccessful ones are considered by right-wingers to fit the description in the opening sentence above. The fact that they clearly want work and try to get it is an irrelevance, I suppose. And as for wondering what percentage of the three million feel the same way, that seems way beyond the consideration of some!