And the government could always run a small deficit to make sure people are protected from harm.
They could run a small deficit, yes.
The deficit, which soared to 14.8% of GDP in 2020-21, fell to 6.1% a year later and is forecast by the OBR to decline to 3.9% in 2022-23 assuming the economy keeps growing.
They’re already running a large deficit then.
The post is so desperately inept you can only presume his Union paymasters have instructed him to ‘show your solidarity’. Just mindblowingly ignorant…
And that’s the deficit – running a continuous deficit (of any size) means the actual debt continues to rise. But that’s no reason to not steal money now from future generations.
and theres me thinking his starchiness had told us that government spending pays for itself through increased tax revenues. Deficits don’t exist in potatoland.
You have to remember that we don’t have to run a defecit accord to SpudUDon’tLike, we can just keep funding spending through money creation with no adverse consequences.
“So in that case, why is the government choosing to fight workers and crush public services when there is no need to as it could easily afford to pay public sector employees enough to protect them from the worst of inflation right now?”
Fight the workers? Crush public services? £200m/month is going into “emergency Covid funding”, even though Covid is all over bar the shouting. They’re getting a 2% pay rise when really, they should be getting a 30% pay cut, and they’re complaining about it.
And that’s on top of the other £5bn it regularly invests in the rail. Dig it all up, tarmac it and let bus companies run coaches.