Is the coalition telling porkies?

[rov1100]

The figures quoted for the deficit are around £160bn which they are taking strict measures to reduce it over the life of this parliament.

However they fail to say that about £60bn of this will easily be recouped by selling off the banks Gordon Brown bought when they got into trouble. But they don't intend to sell these 2 banks till nearer the next election.

So are we expected to pay off the deficit in full so that come to near the election these banks will then be sold off and the enormous windfall can be used to bribe the voters to vote Tory again?

[keepontrucking]

Don't forget we lent Ireland 8 billion, this is a typical tory trick if they can hold on to power till the next election you will find a little tax cut for the lower classes just before the election.

[New Judge]

And who, pray, do you expect to buy the said banks at the moment?

However, it is of little consequence as the £60bn you quote is small beer. The deficit you mention is simply the annual difference between government spending and government revenue and of course the Coalition is taking steps to reduce it. However, I would suggest that if there are any Porkies flying about they are masking the true scale of the dire straits the country is in. The Public Sector Net Debt (that is, the country’s “overdraft”) is set to stand at £909bn by the end of the financial year 2011-12. Because the government is continuing to run a deficit (i.e. it spends more than it receives) even with “The Most Savage Cuts The World Has Ever Seen” the Net Debt will continue to rise until, by 2015, it is forecast to stand at £1,359bn – an increase of 50%.

What is clear (and the cause no longer needs to be argued) is that the previous government left its successors with an enormous problem which the measures that have been announced are nowhere near sufficient to address. Even if the banks you mention are sold there will be no money to give away in 2015.

[DTCwordfan]

they are hoping that they may recoup over 90 bln - Lloyds 45, RBS 35 to 40 and then there is Northern Rock, Dunfermiline and the rest.........

[keepontrucking]

Strange how we can find money to send planes to bomb Libya and have troops in Afghanistan and give more aid to other countries.

22 Oct 2010 ... THE £3.7billion hike in overseas aid could have paid for 200 new schools, ... Anger over £3.7bn aid increase.

[keepontrucking]

New Judge strange how we are all in this together and face hard times, well some of us will

25 March 2011 Last updated at 11:43

MPs' expenses: Rules relaxed for 'commuter belt' MPs
By Emma Griffiths Political reporter, BBC News

More MPs will be able to claim extra expenses for children and accommodation under relaxed rules launched on Friday.

Changes to the scheme, introduced last year, follow MPs' complaints that it was too bureaucratic and "anti-family".

An extra 31 "commuter belt" MPs will be able to claim for hotels or rent, and those with children up to 18 will be able to claim extra for travel.

[New Judge]

So you do not believe that the country is in financial diffuculties, then, Steve? It's all a wicked Tory plot then?

[starone]

Wasn't it Maggie Thatcher who said something about being economical with the truth rather than lying? The country is in dire straits without any doubt and it will take many years to clamber back out of the pit. However, I believe other countries are equally as bad so we are not alone in our difficulties.

[douglas9401]

Lawyer: What is the difference between a misleading impression and a lie?
Armstrong: A lie is a straight untruth.
Lawyer: What is a misleading impression - a sort of bent untruth?
Armstrong: As one person said, it is perhaps being "economical with the truth".

Sir Robert Armstrong during the "Spycatcher" trial.

[LordSnooty]

The people on this site tend to believe the BBC so have a read of this

http://news.bbc.co.uk.../business/8415703.stm

[VINNY100_2]

Whats really bugging the Tories . when Tony Blair won power he did it with a MASSIVE landslide.13 Years later the Tories couldnt even get a majority to Form the next Goverment.The papers are full of letters/texts...slagging off this coalition.The Labour party after only a month after the Election were ahead in the polls.You can tell as many porkies as you like........but this is your High Noon.

[New Judge]

What the 15 month old article says is that we are not quite so badly off as a handful of other well chosen countries. So that's alright then.

[ladybirder]

27 month old article!

[ladybirder]

Sorry. As you were. Bit late for counting.

[VHG]

>The Labour party after only a month after the Election were ahead in the polls

Yes but if you have two friends, one who spends money like crazy and is always buying you drinks, and another who is a little more careful and expects people to buy a round each, you are more likely to go out with the crazy friend and you get free drinks all evening.

The Labour government has created a situation where a huge number of the population RELY on a Labour government, either for their generous benefits or their council or government funded jobs.

These people will vote for Labour because it is best for THEM and dont give a stuff for how broke the country is.

In 10 or 20 years time, when we really ARE broke, and the benefits have to stop, then they may realise that voting Labour was not such a great idea.

Labour always manage to bankrupt the country.