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But did you cut the deficit? I believed the last ephemeral PM had to resign after cutting taxes and, at the same time, growing the budget had dire consequences.
by narag 4y ago
But did you cut the deficit? I believed the last ephemeral PM had to resign after cutting taxes and, at the same time, growing the budget had dire consequences.
Even here in the mainland, the ECB is being forced to stop printing money at the usual rate.
- skippyboxedhero 4y agoI am not sure what you are referring to. The UK was running a primary surplus in 2018. And the UK is now running a deficit. Imo, the deficit is too large but most countries are running a deficit that is too large. The last PM didn't cut taxes and didn't grow the budget. The vast majority of her policies did not happen. The ECB has not stopped printing money because they aren't selling bonds and are (I believe) still intervening in Southern Europe bond markets because of their dire fiscal situation. The BoE stopped QE and began selling bonds in February 2021. Still far too late, but the ECB has (imo) gone so far with QE that it is impossible to stop (iirc, most new corporate loans in most of Western Europe are now govt-guaranteed...their intervention into banking has been far deeper than any other country).
- deleted 4y ago[deleted]