Autumn statement predictions(12 Posts)
So what will be revealed in November? Will they mess with child benefit? How will they fix the tax credit plan? It will certainly be interesting after yesterday.
As someone who works in an area with an under threat allocation, I'm also watching with interest.......
The Conservatives as the only party offering this policy, were elected with a majority in 2015 to balance the UK books by 2020, which will be over 11-years after the 2008-9 Great Recession.
They said they hoped to do that in 2010, but the global recovery was slow, our main trading partners in Europe are STILL economically stagnant, and the coalition needed to give financial help to businesses and the population still suffering from that recession through the tax system.
Many people on here still criticise the Conservatives for NOT balancing the UK's books from 2010 to 2015, although usually from the same people who don't want any cuts to the annual government budget deficit/overspend.
The last time I looked, the current government annual deficit while annually trending DOWN, is still around £70 billion.
So apart from PROTECTED spending e.g. the NHS, NOTHING can be off the table from government investment in infrastructure, shaving a bit off every other government department budget, not upping the start rate of income tax (as planned) from I believe a current £10,500 (but it was just over £6k in 2010) - as in theory it has to be raised at source to plug that £4 billion(?) gap, rather than loads of little measures that individually raise diddly squat and/or the tax take could be avoided. IMO.
PMQT today; is Corbyn a bit slow on the uptake, or due to sitting on the back benches, hasn't a clue how national budgets work?
Despite going through the Commons at least three times, with a higher majority each time, the Tax Credit legislation designed to bring in around £4.5 bil of the £12 bil of cuts they promises in the General Election - but as of a day ago, that legislation has not passed the Lords, so CLEARLY there may need to be BIG changes to the Autumn Statement he'd planed AND the more comprehensive 3-year forward government Public Spending Round (review) soon after, in end November 2015.
So for Corbyn to ask the SAME question SIX TIMES, requesting Cameron to GUARANTEE people won't be worse off under Tax Credits, was just plain dumb.
I realise Labour cannot build up an economy, so it can only focus on Benefits/Welfare/Tax Credits - but what a ridiculous waste of questions when it will be impossible to give an answer to give such an assurance - when they have not reviewed what else could be cut instead.
EVEN IF Osborne/Cameron had PROTECTED Tax Credits and made a huge change to all their tax/spend policies for the next 1-3 years over the past 24-hours; how disingenuous would it have been to have said they were safe, but the alternative cuts in spending/revised give aways made them worse off anyone?
Alternatively, if the Conservatives KEPT the Tax Credit cuts but gave back money elsewhere, the recipients would not be worse off.
Conclusion; There could never have been an answer today, so either Corbyn didn't know that, or was trying to be 'smart' during the only time he gets the Prime Ministers attention on EVERY UK issue, and looked a plonker.
Labout leader totally owned the PM at weekly questions, even labour hostile observers noted that while also noticing lack of coverage in media.
Osboune will do what Osbourne does. He will not cease his masochistic obsession with 'balancing the books' in a brutally short time frame so the poor, the vunerable and the disadvantaged will get hit by his right fist instead of his left.
Unless he gets his freinds to carry more of the burden.
"while also noticing lack of coverage in media."
So there were no headlines on all main news channels and newspapers 'Corbyn asks Cameron the same question 6-times' then, rubbish; was Catweazle and his elec-trickery expecting a Nobel Prize for politics?
Anyone in the know would have understood that as Cameron wants to phase out Tax Credits, so there could not be a quick answer 'we are going back on what the Commons voted FOR around four times in the post election months.
So expecting a Lords amendment at worst, with the ink dry on their future spending plans, Osborne/Cameron has to find £4.5 bil of cuts elsewhere from the Autumn Statement and 3-year forward total government Public Spending Round (review) to both be released in November - he would not have had the answer 24-hours later how/which COSTED measures to offset the pain could be found from other departmental government budgets.
As to 'balancing the books' as some obsession, the interest on servicing the current National Debt will be around £45 billion this year and £60 billion by 2019/20 - which comes out of annual government spending - so someone has to worry about it, as until we balance it, we can't even think of STARTING to paying down what will be around £1,700,000,000,000 (£1.7 trillion) by then
Scrolling past torybot.
I think the baby boomers will take a small hit, they will get a giveaway in four years to sweeten them again.
Hardly, both State and Private pensions were screwed under Labour, big time - and that 'Triple Lock' malarkey on the State pension (that awarded 60 pence around 2000 with inflation/Council Tax much higher) - was designed to make sure shit governments don't forget the pensioners again.
The Tories are finished.
5 years of endured evil, before a renewed Socialist Labour party saves us.
They will crush the most vulnerable the hardest, crush the nhs particularly junior doctors, crush the education budget, crush Police, Fire and Ambulance services, further crush library, children and community budgets....
Their blind incoherent program of forcing everyone into the private sector unwillingly, will play out until everyone gets sick of it.
Lol at the idea of a renewed Socialist Labour Party saving us! Everyone apart from the innocents who voted Corbyn for Labour leader is of the opinion that the Labour Party is in such a mess that it is likely there will be a further 5 years of Tory government from 2020.
Tax credits were a mistake when they were introduced and they need to go.
Defence spending cuts in general after today's announcement? I think further education will get hammered.
saying "Tax credits were a mistake when they were introduced and they need to go." is far too simplistic and shows a basic lack of understanding how tax credits have enabled families to live and work and support their children, whilst on very low wages.
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