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22-03-2010, 08:45 #1Senior Member
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Government spending makes up 52.1% of GDP
In 1997 it was 40%.
OK Liarbour apologists, explain why any sane person would think this level of government expenditure, which excludes bailing out banks BTW, represents anything other than the most abject failure.
"Only a few developed countries, such as France and Sweden, now have a higher rate of public spending.
The figures mark an important turning point for Britain, which historically has prided itself on being a nation of private enterprise and endeavour.
They do not include the costs of part-nationalising failing banks — which could push the levels close to that of communist countries.
Henrik Braconier, who studies Britain for the OECD, said the figures “definitely” signified that something was wrong in the economy.
“This won’t go away by itself,” he said. “There need to be cuts in expenditure or rises in tax to balance this situation over the longer term.”
New analysis released yesterday showed that Britain already has the highest income tax rates in the G8 group of the world’s biggest economies. Overall, the average Briton now pays twice as much tax as when Labour came to power.
This is the highest proportion since its figures began in 1970. The previous record high was 49.4 per cent in 1981 as Britain recovered from near bankruptcy in the 1970s"
http://www.telegraph.co.uk/news/news...-spending.html
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22-03-2010, 10:03 #2Senior Member
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Re: Government spending makes up 52.1% of GDP
Let's cut defence spending, that'll be a start in the deficit reduction.
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22-03-2010, 10:11 #3Senior Member
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Re: Government spending makes up 52.1% of GDP
The USSR died, all hail the UKSSR!
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22-03-2010, 10:12 #4Senior Member
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Re: Government spending makes up 52.1% of GDP
The problem with that is defence spending is now such a small proportion of the pot that cutting it will not actiuually make any difference, in fact you could increase it by 50% and it wouldnt make any real difference to the total government spend.
Originally Posted by old_n_fat
Peter
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22-03-2010, 10:22 #5Senior Member
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Re: Government spending makes up 52.1% of GDP
Every little helps. A billion here, a billion there and pretty soon you are talking about real money. Originally Posted by maxi_77
The problem with that is defence spending is now such a small proportion of the pot that cutting it will not actiuually make any difference, in fact you could increase it by 50% and it wouldnt make any real difference to the total government spend. Originally Posted by old_n_fat
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22-03-2010, 10:34 #6Senior Member
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Re: Government spending makes up 52.1% of GDP
"The trouble with socialism is that eventually you run out of other people's money".
Mrs T.
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22-03-2010, 11:02 #7Sponsor
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Re: Government spending makes up 52.1% of GDP
We will bring an end to boom and bust!
[Oops, well, hey ho, never mind eh]
We will stop the Tory sleaze!
[We will do what the tories did, and we'll do it a lot more, and a lot worse, and get caught more too, and try and deny it more, and get hung on our own petard]
We are a party of responsible socialism!
[Crimes up?!?! Welfare state out of control?!?! All vital social statistics make liars of us over 12 years!?!?? So?]
Gordon Brown is an economic genius!
[I'll be responsible for the biggest public deficit in the devloped world. I'll be responsible for 52% of all spending in the UK, or more to the point, I'll make sure that 52% of everything the taxpayer spends is spent on me, so I can spunk it up the wall]
Gordon Brown saved the world economy!
[Gordon Brown saved the banks, but used everyone elses money to do it, because hasn't got any you see, apart from what he can squeeze out of expenses]
The Labour Party will clean up politics!
[ha . . . . . ha ha . . . . . . mwahahahahahahaaaaaaa you fools!]Join me on HoboWars! Originally Posted by Adam Smith - 1776
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22-03-2010, 14:16 #8Senior Member
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Re: Government spending makes up 52.1% of GDP
Both seem to have a pretty enviable standard of living. For my money, there's more to the shit-state Britain's economy is in than just the straight comparison of public vs. private sector expenditure, but dogma prevents certain quarters from questioning why large government spending is a bad thing. The countries that experienced shallowest recession, came out fastest and went back into growth soonest did so on the back of strong government stimulus.Only a few developed countries, such as France and Sweden, now have a higher rate of public spending.
I think it has to do with how the money is spent and nothing to do with who is spending it.We need people who look to the stars, holding the nation and the world in their hearts but at the same time we need down-to-earth people who can do serious and trying work.
In a definite sense, a country's power and prestige isn't only a reflection of its economic power but also a reflection of its people's quality and morality. Moreover, I think the latter is actually more important in the long-term.
http://www.economist.com/blogs/multi...na_has_changed
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