Boy George takes us back to the 30s
Posted: Thu Dec 05, 2013 2:57 pm
Boy George announced today that there will be more and more austerity for years to come. So if you are not rich, expect the kicking to continue at least until 2019 when Georgie expects to balance the budget. And if Boy George's prediction today is as a bad as his prediction in 2010 to balance the books by 2015, austerity will probably last until the mid 2020s.
The independent Office of Budget Responsibility (OBR) which number crunches for the government has estimated that on the basis of Boy George and Call me Dave's cuts by 2019 "government's "consumption of goods and services - a rough proxy for day-to-day spending on public services and administration - will shrink to its smallest share of national income at least since 1948, when comparable National Accounts data are first available".
Now given the government expenditure during World War II was huge, it seems fair to assume from the above OBR estimate that it must be back to the 1930's at the very least that this lot is taking us.
And the growth that Ozzie is trumpeting today, the OBR points out is being fuelled by what it calls "the unexpected strength of private consumption" which has "largely come from lower saving, not higher income".
Not a rosy future for all of those that aren't rich then. All aboard for the Tory time machine to the past. Now where can I find a few kids to sweep chimneys as a business?
The independent Office of Budget Responsibility (OBR) which number crunches for the government has estimated that on the basis of Boy George and Call me Dave's cuts by 2019 "government's "consumption of goods and services - a rough proxy for day-to-day spending on public services and administration - will shrink to its smallest share of national income at least since 1948, when comparable National Accounts data are first available".
Now given the government expenditure during World War II was huge, it seems fair to assume from the above OBR estimate that it must be back to the 1930's at the very least that this lot is taking us.
And the growth that Ozzie is trumpeting today, the OBR points out is being fuelled by what it calls "the unexpected strength of private consumption" which has "largely come from lower saving, not higher income".
Not a rosy future for all of those that aren't rich then. All aboard for the Tory time machine to the past. Now where can I find a few kids to sweep chimneys as a business?