I know they've already reduced it. Their plan should reduce it to zero over the next 5 years. Labour will keep the deficit by increased borrowing to fund their policies.
I think you really are confused, btw. Let me simplify it. Defecit = monthly outgoings. Debt = mortgage Tories have stopped paying monthly bills in the hope that no-one will notice that the mortgage owing on the house has doubled in 5 years. Seem to be getting away with it with Joe Public, but if they continue like this, the Bank Manager (International Monetary Fund) will take the house off them! Clearer now?
It looks like you are the one confused. The deficit, in simple terms, is the amount borrowed to cover the shortfall between income (tax receipts) and spending.
Exactly. And it accrues. To the tune of 1.6 trillion atm. As in national debt. Or do you think it's just the defecit we should be worried about?
You can't reduce the national debt until you get rid of the deficit i.e. have a surplus. The last time we had a surplus was just after Blair got in and this was only achieved as they kept to the Tories spending plan. In 2001 Brown then started borrowing huge amounts to buy votes and created a huge national debt instead of saving for a rainy day.
You've spewed that out without looking at the numbers. The huge borrowing has been going on in the last 5 years by the tory scum. They've DOUBLED the national debt. Prior borrowing was frugal, by comparison.
I hope no one minds me joining in I had this very same discussion with a mate of mine two days ago. it's almost as if there is some sort of propaganda war going on... http://www.theguardian.com/business...at-all-sadly-their-pr-war-is?CMP=share_btn_fb
Win, lose or draw whatever your political affiliations it's good to see there has been a better debate on this board than in all the televised debates. Obviously there is always one loon who has no grip on reality but that apart I for one have enjoyed some of the info provided from both sides of the argument. Sadly living where I live I will be voting liberal in the vain hope that my vote and the rise of UKIP kick the Tory scum Cnut out of office. Whatever you do today, please vote for the outcome you want, or spoil your paper if you want none of them to win. People died to give you the right.
More the merrier, everyone is welcome here to post on any subject. We even let Millwall in and they are in division three!
Some people in some places are still dying for the right to vote, so here here to that. Spoil the paper if there's no one you like.
I have looked at the numbers and I'm fully aware of the increase in our national debt. As I mentioned earlier the coalition has "maxed-out on the credit cards". I still wouldn't trust any lefty with an economy. That's why I'm voting UKIP!!!
But you would trust Nigel Farage the ex city banker, ah yes bless bankers, what a great job they've done recently with our economy.....
FFS! Add yourself to the ignorant list. NF was not a banker. He was a trader at the London Metal Exchange.
I apologise you are correct he was a broker. A broker whose firm was taken over by the French bank Crédit Lyonnais so he did work in the city for a bank but yes as a broker. Very remiss of me to confuse brokers and bankers as both are such noble professions who have in no way caused any financial crises in the past 10 years.
Obviously the bankers are also responsible but this is as much the fault of Gordon Brown as he failed to regulate them. This he has eventually admitted. Another way in which Brown (assisted by Campbell and Miliband) is to blame is that in the boom years instead of saving he kept borrowing the maximum he could (under EU rules 3% of GDP). This kept on increasing our national debt (over £500bn prior to the bank bailouts). When the banking crisis hit we were stuffed. Countries that saved during the boom years fared much better (Australia, Canada, Sweden amongst others). These countries have laws to stop the increasing of debt during boom times.
The Tories thought the banks were over regulated,and would have made things even worse had they been in power.
