Very Gloomy Forecast

January 28, 2009

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.

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Labour Minister Sees Green Shoots

January 14, 2009

7000 job losses have been announced this week but Business minister Baroness Vadera can quite incredibly see ‘a few green shoots’ of economic recovery. You have to wonder what planet some of these ministers are living on and whether they have any contact with the real world.