Is austerity working- and will it ever end?

Minor injuries for a suspected but not urgent fracture.

I've just been reading something in the newspaper that I thought I would share. So much of what I've heard from government ministers since austerity (about how governments 'can't spend money it doesn't have'; that 'we can't live beyond our means', and that 'a national economy works the same way that a household does') seems to be contradicted here:

https://www.theguardian.com/business/2013/nov/21/post-crash-economics-austerity-common-fallacieshttps://www.theguardian.com/business/2013/nov/21/post-crash-economics-austerity-common-fallacies

Very interesting reading.

I've just been reading something in the newspaper that I thought I would share. So much of what I've heard from government ministers since austerity (about how governments 'can't spend money it doesn't have'; that 'we can't live beyond our means', and that 'a national economy works the same way that a household does') seems to be contradicted here:

 

https://www.theguardian.com/business/2013/nov/21/post-crash-economics-austerity-common-fallacieshttps://www.theguardian.com/business/2013/nov/21/post-crash-economics-austerity-common-fallacies

 

Very interesting reading.

Sorry Mr M can't get the link. Can you sumerise it, (although I can guess the sort of things it said...

Sorry Mr M can't get the link. Can you sumerise it, (although I can guess the sort of things it said...

Hi Anna, that link appears to be broken....hopefully this link may work

https://www.theguardian.com/business/2013/nov/21/post-crash-economics-austerity-common-fallacies

Hi Anna, that link appears to be broken....hopefully this link may work

https://www.theguardian.com/business/2013/nov/21/post-crash-economics-austerity-common-fallacies

Thankyou Mister M. As you say, interesting reading.

The Conservative party has always been good at giving out simplistic soundbites which catch on in the public consciousness, even when they are blatently false. The biggest and most annoying of which was its oft repeated mantra 'this mess that Labour got us into.' about the 2008 Economic crash.

I was so outraged at this fallacy that I took it upon myself to try and learn and understand what had caused the world financial crash of 2008. There was loads of stuff on the internet and media at the time, and it was something of a disturbing revelation, to say the least.

It was complicated but worth it, and I'm still no expert, but would advise all people to do the same. It helps you to cut through the crap and recognise bull**** when you hear it. But it is time consuming and not everyone is interested enough to do it. So the powers that be can continue to treat people like mushrooms - keep them in the dark and feed them sh**

The Conservative party has always been good at giving out simplistic soundbites

I think you're conveniently forgetting Blair was king of the soundbites. Here's two of his finest:

"The people's princess.

"A day like today is not a day for soundbites, really. But I feel the hand of history upon our shoulders. I really do."

Well, they've declared the "end of austerity" and then in the budget yesterday not ended it in the slightest. A few sops, some give aways to help improve electability. Austerity continues but the conservatives are trying to buy votes before a general election as they always do.

Well, they've declared the "end of austerity" and then in the budget yesterday not ended it in the slightest. A few sops, some give aways to help improve electability. Austerity continues but the conservatives are trying to buy votes before a general election as they always do.

Not ended it in the slightest? It was the most generous budget since 2010.

If the conservatives always try to buy votes before an election, why weren't the previous budgets like this? Maybe, just maybe, the decisions that have been made previously are paying off, and so there is more money to play with..

The funniest thing about the budget was Labour's John McDonnell saying that it didn't go far enough.

One bit he mentioned was some tax relief for businesses, complaining that it was only for two years, and would return back to today's rate in 2020. (Andrew Neil budget show, BBC2, about 5.50pm)

But John, aren't you and Labour going to romp home to an election victory in 2020? So why don't you just extend it when you're in power......?

Not ended it in the slightest? It was the most generous budget since 2010.

 

Public spending will go up by 1.2%, Mr Hammond told BBC Radio 4's Today programme; but inflation is now running at 2.7%

https://www.bbc.co.uk/news/uk-politics-46024014

Public spending will go up by 1.2%, Mr Hammond told BBC Radio 4's Today programme; but inflation is now running at 2.7%

 

https://www.bbc.co.uk/news/uk-politics-46024014

It’s a real terms increase. I believe that takes inflation into account.

Not ended it in the slightest? It was the most generous budget since 2010.

 

If the conservatives always try to buy votes before an election, why weren't the previous budgets like this? Maybe, just maybe, the decisions that have been made previously are paying off, and so there is more money to play with..

Most generous eh.

So we'll soon see 20,000 police officers back on the force.

NHS spending will be increased to reverse a decade of decline.

Schools will get sufficient money to hire new staff (not just a one of capital spend that in no way is sufficient for the amount they need).

This budget isn't an end to austerity in the slightest.