oh dear (tm): Osborne's deficit plans suffer setback as UK borrowing rises

[AtW]

" George Osborne's plans to cut the deficit by a quarter this year have suffered a setback after figures showed public borrowing rose in August, while revised data revealed the Chancellor also missed last year's deficit target.

Public sector net borrowing, excluding public sector banks, rose by £1.4bn in August to £12.1bn compared with a year ago, according to the Office for National Statistics (ONS). Economists had expected borrowing to fall to around £9bn.

The ONS said the increase in net borrowing was largely due to an increase of £1.6bn in central government borrowing as income tax receipts fell 3.5pc, reflecting a 53pc drop in self-assessment payments after July's surge. Corporation tax receipts also edged down. "

Source: Osborne's deficit plans suffer setback as UK borrowing rises and tax receipts stall - Telegraph

That should hurry and increase taxes some more

[DimPrawn]

It's all farked.

Just made up numbers to mask other made up numbers.

The true picture is unsustainable borrowing, falling productivity, unsustainable public spending.

Just make enough money to escape somewhere with sunshine and pretty girls. Sorted.

[AtW]

Just make enough money to escape somewhere with sunshine and pretty girls. Sorted.

Newcastle?

[OwlHoot]

It's all farked.

Just made up numbers to mask other made up numbers.

The true picture is unsustainable borrowing, falling productivity, unsustainable public spending.

Just make enough money to escape somewhere with sunshine and pretty girls, except Greece. Sorted.

FTFY

[FatLazyContractor]

somewhere with sunshine and pretty girls.

Cornwall?

[PurpleGorilla]

oh dear (tm): Osborne's deficit plans suffer setback as UK borrowing rises

Bearing in mind:

1. interest rates are the lowest EVER
2. Inflation (cpi) is at ZERO
3. FTSE is toppy as are global stock markets
4. Fuel is cheap

We are not in a good place, we are, as DP says, fooked!

[AtW]

2. Inflation (cpi) is at ZERO

My flat was almost sold for £205k (to me) in 2011, now on the market for £290k.

ZERO fooking inflation.

[FatLazyContractor]

My flat was almost sold for £205k (to me) in 2011, now on the market for £290k.

ZERO fooking inflation.

What flat do you live in? Do you have an indoor swimming pool? Is this Birmingham?

[AtW]

What flat do you live in? Do you have an indoor swimming pool? Is this Birmingham?

Small 2 bedroom flat, around 1500 sq ft.

HTH

[PurpleGorilla]

My flat was almost sold for £205k (to me) in 2011, now on the market for £290k.

ZERO fooking inflation.

RPI (x) I think had interest mortgage cost included, but Brown moved the UK to CPI which had no mortgage or interest or house price inflation of any kind.

Now clearly this is bull tulip. Housing is the biggest cost for people, so why exclude it?

Well the banks and gov have made billions from a booming housing market.

The bubble has been easy to stop - but there has been precious little appetite for it.

How you can have HPI at 15-20% pa and wages growing at 1-2% and consider it sustainable I don't know.

I see the FTSE has retracted below 6000 again, time for another bear run?