Very Gloomy Forecast

The Institute for Fiscal Studies (IFS) has today painted a very gloomy picture on the state of UK finances in the years to come with a prediction that it will take 20 years for UK debt to return to pre crisis levels and that £20 billion worth of tax rises or spending cuts will be necessary to achieve the improvement in the public finances set out in the PBR.

This forecast is in effect confirmation of this campaign video released by the Conservatives two weeks ago in that future generations will be straddled with debt left behind behind by Gordon Brown and his incompetent Government. Despite the plethora of gloomy economic news including job losses and record numbers of house repossessions, Gordon Brown refuses to acknowledge that he hasn’t ended economic boom and bust, a point put to him at today’s PMQ’s by David Cameron.

One Response to Very Gloomy Forecast

  1. UK Voter says:

    Government, whover they are, must always look at reducing costs (waste, excess etc), before they look to put up taxes. It ought to be their duty. Gordon Brown couldn’t care less, but David Cameron has already talked about tax rises and placed too much emphasis on that aspect of policy, rather than looking at cutting costs.

    Raising taxes should be treated as a priviledge, not a right, even though, of course, it remains a legal right.

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