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The UK has 90% public sector debt to GDP, which is a steep rise given it was 52% in 2009, which does make me wonder where they are putting it, given all the aus
by elektromekatron 11y ago
The UK has 90% public sector debt to GDP, which is a steep rise given it was 52% in 2009, which does make me wonder where they are putting it, given all the austerity stuff, and we also have 140% private sector debt to GDP, down from 200% in 2009.
- pjc50 11y agoThat's mostly due to overall benefit levels staying constant or increasing due to unemployment, while taxation has collapsed. http://publicpolicypast.blogspot.co.uk/2011_05_01_archive.html http://publicpolicypast.blogspot.co.uk/2011_05_01_archive.ht... The austerity has largely been targeted at vulnerable people who don't actually cost very much in total.
- elektromekatron 11y agoGiven the problem is tax receipts collapsing, why has the government changed the rules to make it easier for companies to avoid paying tax in the UK? There is a limit to what can be considered pure incompetence. This looks more deliberately malign. https://rwer.wordpress.com/2011/09/06/rwer-issue-57-richard-murphy/ https://rwer.wordpress.com/2011/09/06/rwer-issue-57-richard-...
- tome 11y agoI guess the charitable interpretation is that they're trying to encourage growth. Whether you believe it will work or not is another matter.