Borrowing Up Again - So Much For Tory Pledges.

[Canary42]

Borrowing up again - so much for Tory pledges.

http://www.bbc.co.uk/news/business-29702795

[jno]

be reasonable now, they need to borrow to fund their election bribes

[Bazile]

What - are they going to bribe all those hundred of thousands of eastern Europeans to leave the country ?

[anotheoldgit]

At least they do give pledges if sometimes these don't always come to fruition due to the unstable financial position of the World's markets.

But I would much rather live under a government that is at least trying, than a Labour government who just spend, spend, spend and we have to suffer the consequences.

[dave50]

Why do some people have a go at the Tories for presiding over yet more borrowing then in the next breath complain about the 'savage cuts'? Are these people totally economically illiterate?

[Bazile]

At least they do give pledges if sometimes these don't always come to fruition due to the unstable financial position of the World's markets

Yes Cameron is good at making pledges , isn't he - like the pledge on Imigration he is now making ( with an election looming ) - which he does not stand a cat in hell's chance of fulfilling .

[ludwig]

This is terrible. Thank gawd Labour aren't in power. It could be so much worse.

[jim360]

But we have to remember that four years ago, two parties came together in the national interest -- not in any selfish party interest -- to sort out the mess left by the last Labour government... worst recession since the 1930s... overspending... blah blah blah...

[youngmafbog]

So if you make a pledge you think it should be held whatever the external factors - unless it is labour of course they can spend spend spend and you will be happy.

All the fault of the coalition. Cuts have been nowhere deep enough, Osborne has been unable to turn back the swathes of civil service workers now labour pulled in(And if that was not blatant vote buying I dont know what is!)

However, annoying and perhaps a little worrying it pales into insignificance compared to what is happening on the world stage. Europe is once again heading back to the doldrums and China is facing a massive debt problem. Both these two could have a massive impact to the UK.

[Gromit]

Osborne has been a poor Chancellor.

He has borrowed more in 4 years than Labour borrowed in 13 years in power.

http://www.huffingtonpost.co.uk/2013/11/21/uk-borrowing-_n_4316084.html

[youngmafbog]

Gromit, as you are well aware on the change of a Government it is impossible to stop the snowballing effect of previous spendthrift incumbents immediately. Unless there were massive reversals of Labour spending, impossible with the lib dems in tow, it would take 10 years plus to get back on the straight and narrow.

Just out of interest, what is your view on Balls? Reckon he will be a lot better ?

[janbee]

This government has borrowed MORE in 4 years than the previous Labour government did in 13 years !

[Gromit]

Ymb
Then why did the Conservatives promise to cut borrowing?

I doubt Balls will be any good.

If Labour do get in, apparently they will need at least 10 years to reverse Osbornes extravagant spending, if you are to be believed.

[youngmafbog]

The labour government inherited the best economy of any incoming Government. Not my words but labours.

So you are comparing apples and pears. Plus, did you understand what I wrote or are you just after a bit of Tory bashing?

[youngmafbog]

To be honest Gromit I take Government promises with a pinch of salt. It is of course what has disillusioned the electorate.

It won't take ten years more if they continue along similar paths and don't resort to more spending as the adjustments have been going on for five already. They will also need to continue to reduce the size of the public sector. If they do then another 5 years should get us on a reasonably even keel.

The big problem is interest on interest if you are not careful.

We could, of course, stop propping up the EU with Billions, stop funding other countries space programs and stop foreigners breaking our infrastructure and claiming our benefits and NHS. But if the Tories couldn't stop that then there is pretty much no hope.