More Project Fear Lies

[Whorty]

Wasn't it Project Fear that threatened an emergency budget following us leaving the EU? Such lies ... damn those remoaners.

Thankfully Javid will save us all with his 'significant response' budget Not the same as an emergency budget at all

Tory conference: Sajid Javid promises 'significant response' to no-deal Brexit - BBC News

[sasguru]

Wasn't it Project Fear that threatened an emergency budget following us leaving the EU? Such lies ... damn those remoaners.

Thankfully Javid will save us all with his 'significant response' budget Not the same as an emergency budget at all

Tory conference: Sajid Javid promises 'significant response' to no-deal Brexit - BBC News

Yeah funny how the Tories have suddenly found the magic money tree that used to be the preserve of Labour
But the useless, uneconomical thickos who voted Brexit need to be paid off.
One of my predictions about the effects of Brextulipe is that it'll eventually increase the debt-to-GDP ratio to levels that will permanently preclude rapid growth - most economists say this is about 100% debt-to-GDP. From then on the Uk will be like a larger version of Italy, Spain or Portugal.
It already is in some parts of the country.

[DealorNoDeal]

God help us if inflation ever takes off because the BoE will be virtually powerless to do anything about it.

I hate to think what a few % increase in interest rates would do to a lot of home owners with very high mortgage debt.

Weren't we assured, back in 2008, that ZIRP was merely a temporary measure?

I see they're hinting that rates may be lowered again, not that they can reduce them much before they become negative. If there is ever a recession then the only option the bank would be left with, to stimulate the economy, would be more QE.

[sasguru]

. If there is ever a recession then the only option the bank would be left with, to stimulate the economy, would be more QE.

Nope not even that. There is a limit to the sort of controlled QE that was done. Any more and you start getting Zimbabwe style inflation.
There are no arrows in the quiver left if there's a recession. But to be fair that's true of most Western countries, apart from Germany which has a huge trade surplus and therefore money in the bank.

[sasguru]

Well at least Brexiters have dropped the fantasy that there are some sunny uplands post-Brexit.
Now we just need to invoke the Blitz spirit and muddle through all the unnecessary thicko-imposed sh!te

Rather you than me. Enjoy.

[minestrone]

Tax revenues went up 30 billion last year. About 5%.

Money is there to spend as we ready for our super charged post EU economy.

[sasguru]

Tax revenues went up 30 billion last year. About 5%.

Money is there to spend as we ready for our super charged post EU economy.

Yes. You can have another party when the supercharged British economy roars past all other EU economies post Brexit.
Simply raise the VAT again.

[BlasterBates]

UK budget deficit swells in first quarter of 2019/20 tax year

UK deficit will balloon out of control if it crashes out. It has already doubled since last year.

[sasguru]

UK budget deficit swells in first quarter of 2019/20 tax year

UK deficit will balloon out of control if it crashes out. It has already doubled since last year.

One has to wonder - what is the point of the right if they can't do fiscal responsibility? I've been a moderate right-winger all my life based on their supposed sensible economic stewardship, but that seems to have gone out of the window:

Trump’s Budget Deficits Could Almost Double Obama’s

And this in an expanding economy.
It's predictably what happens when low IQ morons get in power, I suppose.

[minestrone]

Yes, I will thanks.

Also Germany may be making a surplus but it's economy isn't growing and it still has significant debt. But thanks to the Irish, Spanish, Italians and Greeks being in the Euro they can take this monetary pain for the mother land.