The Budget can someone explain

[tweetstreet]

What exactly is it that the Tories are doing I see it mentioned that they are borrowing more than we have before but we are reducing the defecit...

The way i understand it is that they are reducing our outgoings so that we have more coming in than we have going out, so currently there is no reduction in the national debt just a move to get us bringing in a profit so to speak.

Can someone in the know explain it all?

 

[everythingchangesbutblue]

What exactly is it that the Tories are doing I see it mentioned that they are borrowing more than we have before but we are reducing the defecit...

The way i understand it is that they are reducing our outgoings so that we have more coming in than we have going out, so currently there is no reduction in the national debt just a move to get us bringing in a profit so to speak.

Can someone in the know explain it all?

If you are Majorie and Ken from Kent you will be a bit better off, if you are Mike and Kelly from Blackley then god help you.

 

[tweetstreet]

What if i'm welsh? haha

 

[Rascal]

I was waiting patiently for a Budget thread all day yesterday.

I take it the lack of one from our plethora of RWNJs means even they are dumbfounded at how fucking shocking it actually was.

Osborne should have stuck to history.

 

[remember arthur mann]

Thought Ed ripped into the Chuckle brothers yesterday, poor old George and Davey boy looked on vacantly !

 

[Dave Ewing's Back 'eader]

What exactly is it that the Tories are doing I see it mentioned that they are borrowing more than we have before but we are reducing the defecit...

The way i understand it is that they are reducing our outgoings so that we have more coming in than we have going out, so currently there is no reduction in the national debt just a move to get us bringing in a profit so to speak.

Can someone in the know explain it all?

If you are Majorie and Ken from Kent you will be a bit better off, if you are Mike and Kelly from Blackley then god help you.

I'm Dave from Blackley, but now in Littleborough. Am I quids in?

 

[everythingchangesbutblue]

What exactly is it that the Tories are doing I see it mentioned that they are borrowing more than we have before but we are reducing the defecit...

The way i understand it is that they are reducing our outgoings so that we have more coming in than we have going out, so currently there is no reduction in the national debt just a move to get us bringing in a profit so to speak.

Can someone in the know explain it all?

If you are Majorie and Ken from Kent you will be a bit better off, if you are Mike and Kelly from Blackley then god help you.

I'm Dave from Blackley, but now in Littleborough. Am I quids in?

The Hollingworth lake scone tax never came to pass so you will be fine, don't be going down Halifax rd toward Rockerdale though as theirs a tory tax cutoff just before Smallbridge.

 

[Lancet Fluke]

What if i'm welsh? haha

[bigimg]https://warosu.org/data/fa/img/0084/70/1405024875190.jpg[/bigimg]

 

[crazyg]

What if i'm welsh? haha

Somebody has to be. You lost the toss, I'm afraid.

 

[EalingBlue2]

What exactly is it that the Tories are doing I see it mentioned that they are borrowing more than we have before but we are reducing the defecit...

The way i understand it is that they are reducing our outgoings so that we have more coming in than we have going out, so currently there is no reduction in the national debt just a move to get us bringing in a profit so to speak.

Can someone in the know explain it all?

I am long departed from these shores but from what I understand:

The government talks about two things the overall net government debt which is typically measured against GDP and then the annual deficit which is effectively as you say how much you have had to increase the debt that year.

Is if you have a credit card which you owe 10 k on and it was zero a year before you effectively have a debt of 10k and your deficit was 10k. However if in the next year you spend 4 k you may end up owing 15k and the deficit is 5k. What governments do is they say they have halved the deficit because they have spent only half as much money they didn't have as the year before .

British government debt is probably around 1.5 trillion about 80% of gdp and deficits have been running a bit over 100bn a year and reducing. So dave and George are running up an extra 100bn debt each year but it is a success because it is a lower increase I debt than the year before etc