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Government has biggest July Surplus for 18 years.
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Latest figures from the Office for National Statistics (ONS) show the Government just had a July Surplus of £2 billion last month. This is the biggest July Surplus for 18 years and is more than double the July Surplus last year in 2017. ONS figured also show April to July borrowing is now at its lowest level since 2002, which is a 16 year borrowing low. More tax receipts are going into the Treasury which give the Chancellor more room to manoeuvre on public spending.
So the constant cries of economic doom and gloom from both Labour Supporters and remainers seem to be nothing more than a head in the clouds fantasy which is not reflected in the reality of hard data/ Office for National Statistics figures. |
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By *ara JTV/TS
over a year ago
Bristol East |
sorry, i meant 2010, not ten 10 years.
Tory chancellors have borrowed something like a £1 trillion.
The interest alone is something like £45bn, so a couple of billion is a start towards repaying the debt, i guess. |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"Latest figures from the Office for National Statistics (ONS) show the Government just had a July Surplus of £2 billion last month. This is the biggest July Surplus for 18 years and is more than double the July Surplus last year in 2017. ONS figured also show April to July borrowing is now at its lowest level since 2002, which is a 16 year borrowing low. More tax receipts are going into the Treasury which give the Chancellor more room to manoeuvre on public spending.
So the constant cries of economic doom and gloom from both Labour Supporters and remainers seem to be nothing more than a head in the clouds fantasy which is not reflected in the reality of hard data/ Office for National Statistics figures. "
Before you take a shot at leavers and labour supporters as you put it... you may want to check the other set of figures that came out today, which is that factory order growth has slowed again for the 3rd consecutive month .. even with the exchange rate you like to trumpet |
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By *andS66Couple
over a year ago
Derby |
"Latest figures from the Office for National Statistics (ONS) show the Government just had a July Surplus of £2 billion last month. This is the biggest July Surplus for 18 years and is more than double the July Surplus last year in 2017. ONS figured also show April to July borrowing is now at its lowest level since 2002, which is a 16 year borrowing low. More tax receipts are going into the Treasury which give the Chancellor more room to manoeuvre on public spending.
So the constant cries of economic doom and gloom from both Labour Supporters and remainers seem to be nothing more than a head in the clouds fantasy which is not reflected in the reality of hard data/ Office for National Statistics figures.
Before you take a shot at leavers and labour supporters as you put it... you may want to check the other set of figures that came out today, which is that factory order growth has slowed again for the 3rd consecutive month .. even with the exchange rate you like to trumpet "
Don't you mean 'take a shot at remainers and labour supporters"?
Although to be fair, the report on factory growth said
"output growth “eased somewhat” – with the factory order book balance falling to +7% from +11 – although the CBI said it is still COMFORTABLY ABOVE THE LONG-RUN AVERAGE.......Manufacturers expect output growth to continue at a similar pace over the coming quarter." |
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"Latest figures from the Office for National Statistics (ONS) show the Government just had a July Surplus of £2 billion last month. This is the biggest July Surplus for 18 years and is more than double the July Surplus last year in 2017. ONS figured also show April to July borrowing is now at its lowest level since 2002, which is a 16 year borrowing low. More tax receipts are going into the Treasury which give the Chancellor more room to manoeuvre on public spending.
So the constant cries of economic doom and gloom from both Labour Supporters and remainers seem to be nothing more than a head in the clouds fantasy which is not reflected in the reality of hard data/ Office for National Statistics figures. "
Running a surplus at the same time as running public services into the ground is shameful and shoddy governance, and not something to crow about.
The problem is that too many people think a country's finances should be run like a household's |
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By *asyukMan
over a year ago
West London |
"Latest figures from the Office for National Statistics (ONS) show the Government just had a July Surplus of £2 billion last month. This is the biggest July Surplus for 18 years and is more than double the July Surplus last year in 2017. ONS figured also show April to July borrowing is now at its lowest level since 2002, which is a 16 year borrowing low. More tax receipts are going into the Treasury which give the Chancellor more room to manoeuvre on public spending.
So the constant cries of economic doom and gloom from both Labour Supporters and remainers seem to be nothing more than a head in the clouds fantasy which is not reflected in the reality of hard data/ Office for National Statistics figures.
Running a surplus at the same time as running public services into the ground is shameful and shoddy governance, and not something to crow about.
The problem is that too many people think a country's finances should be run like a household's"
I have to agree. I'd be more impressed if we found a way to tax the big multinationals and internet companies at an appropriate rate.
This is like Trump though, claiming that the last figure is a record whilst there has be a continuous rise for years before.
Tax receipts have been rising at a consistent rate since the low of 2008.
I thought that you didn't like Hammond anyway?
What's your point Centaur? Things aren't as bad as they could be? Mustn't grumble? |
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By *andS66Couple
over a year ago
Derby |
"Latest figures from the Office for National Statistics (ONS) show the Government just had a July Surplus of £2 billion last month. This is the biggest July Surplus for 18 years and is more than double the July Surplus last year in 2017. ONS figured also show April to July borrowing is now at its lowest level since 2002, which is a 16 year borrowing low. More tax receipts are going into the Treasury which give the Chancellor more room to manoeuvre on public spending.
So the constant cries of economic doom and gloom from both Labour Supporters and remainers seem to be nothing more than a head in the clouds fantasy which is not reflected in the reality of hard data/ Office for National Statistics figures.
Running a surplus at the same time as running public services into the ground is shameful and shoddy governance, and not something to crow about.
The problem is that too many people think a country's finances should be run like a household's
I have to agree. I'd be more impressed if we found a way to tax the big multinationals and internet companies at an appropriate rate.
This is like Trump though, claiming that the last figure is a record whilst there has be a continuous rise for years before.
Tax receipts have been rising at a consistent rate since the low of 2008.
I thought that you didn't like Hammond anyway?
What's your point Centaur? Things aren't as bad as they could be? Mustn't grumble?"
Maybe we would be better off selling all our gold rezerves at knockdown prices, raping everyone's pensions, and putting as much as we can through PFI.
Oh, wait a minute...... |
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By *asyukMan
over a year ago
West London |
"Latest figures from the Office for National Statistics (ONS) show the Government just had a July Surplus of £2 billion last month. This is the biggest July Surplus for 18 years and is more than double the July Surplus last year in 2017. ONS figured also show April to July borrowing is now at its lowest level since 2002, which is a 16 year borrowing low. More tax receipts are going into the Treasury which give the Chancellor more room to manoeuvre on public spending.
So the constant cries of economic doom and gloom from both Labour Supporters and remainers seem to be nothing more than a head in the clouds fantasy which is not reflected in the reality of hard data/ Office for National Statistics figures.
Running a surplus at the same time as running public services into the ground is shameful and shoddy governance, and not something to crow about.
The problem is that too many people think a country's finances should be run like a household's
I have to agree. I'd be more impressed if we found a way to tax the big multinationals and internet companies at an appropriate rate.
This is like Trump though, claiming that the last figure is a record whilst there has be a continuous rise for years before.
Tax receipts have been rising at a consistent rate since the low of 2008.
I thought that you didn't like Hammond anyway?
What's your point Centaur? Things aren't as bad as they could be? Mustn't grumble?
Maybe we would be better off selling all our gold rezerves at knockdown prices, raping everyone's pensions, and putting as much as we can through PFI.
Oh, wait a minute......"
The recovery process started with a coalition government, but since then there was nobody to stop the thumb screws from being applied as the Tories seemed to outsource their compassion to another party who were then thrown under the bus using...Project Fear v1.0 |
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By *asyukMan
over a year ago
West London |
"....or then again, maybe we could follow the Corbyn approved socialism model of Venezuela..."
Bit of a false dichotomy no?
Not that the current Labour party is an impressive alternative. |
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It really is a sad state of affairs when any criticism of the government is met with a "Yeah, well what about Labour then?" as if by criticising one party you are by default in support of the other... |
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By *andS66Couple
over a year ago
Derby |
"It really is a sad state of affairs when any criticism of the government is met with a "Yeah, well what about Labour then?" as if by criticising one party you are by default in support of the other..."
It is also a sad state of affairs when the labour party ate not at least 20 points ahead of the fuck up that is the tory government, with the weak prime minister we have.
Which says just as much, if not more, about Corbyn and Labour than it does about the tories. |
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By *asyukMan
over a year ago
West London |
"It really is a sad state of affairs when any criticism of the government is met with a "Yeah, well what about Labour then?" as if by criticising one party you are by default in support of the other...
It is also a sad state of affairs when the labour party ate not at least 20 points ahead of the fuck up that is the tory government, with the weak prime minister we have.
Which says just as much, if not more, about Corbyn and Labour than it does about the tories. "
It says a lot about politics in general. Not just the UK.
I, personally, don't want a "strong" leader who says he can fix everything whilst entertaining me.
I'm happy with dull and earnest. That's not very popular on the Instatwitface world of today though. |
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"It really is a sad state of affairs when any criticism of the government is met with a "Yeah, well what about Labour then?" as if by criticising one party you are by default in support of the other...
It is also a sad state of affairs when the labour party ate not at least 20 points ahead of the fuck up that is the tory government, with the weak prime minister we have.
Which says just as much, if not more, about Corbyn and Labour than it does about the tories.
It says a lot about politics in general. Not just the UK.
I, personally, don't want a "strong" leader who says he can fix everything whilst entertaining me.
I'm happy with dull and earnest. That's not very popular on the Instatwitface world of today though. "
Not just politics, but the media, education system, society at large...
It's a sad reflection on the state of discourse in this country. We live in a time where 'intellectual' is routinely used in a pejorative sense, and routinely accepted as such, where facts play second fiddle to ideological beliefs and partisan loyalties, and semi-literate halfwits complain that people that have lived in this country a couple of years haven't learnt the fucking language, blissfully unaware of the irony that they haven't managed it either, despite being born and bred here... |
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"It really is a sad state of affairs when any criticism of the government is met with a "Yeah, well what about Labour then?" as if by criticising one party you are by default in support of the other...
It is also a sad state of affairs when the labour party ate not at least 20 points ahead of the fuck up that is the tory government, with the weak prime minister we have.
Which says just as much, if not more, about Corbyn and Labour than it does about the tories.
It says a lot about politics in general. Not just the UK.
I, personally, don't want a "strong" leader who says he can fix everything whilst entertaining me.
I'm happy with dull and earnest. That's not very popular on the Instatwitface world of today though.
Not just politics, but the media, education system, society at large...
It's a sad reflection on the state of discourse in this country. We live in a time where 'intellectual' is routinely used in a pejorative sense, and routinely accepted as such, where facts play second fiddle to ideological beliefs and partisan loyalties, and semi-literate halfwits complain that people that have lived in this country a couple of years haven't learnt the fucking language, blissfully unaware of the irony that they haven't managed it either, despite being born and bred here..."
Sadly true.. |
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By (user no longer on site)
over a year ago
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"It really is a sad state of affairs when any criticism of the government is met with a "Yeah, well what about Labour then?" as if by criticising one party you are by default in support of the other...
It is also a sad state of affairs when the labour party ate not at least 20 points ahead of the fuck up that is the tory government, with the weak prime minister we have.
Which says just as much, if not more, about Corbyn and Labour than it does about the tories.
It says a lot about politics in general. Not just the UK.
I, personally, don't want a "strong" leader who says he can fix everything whilst entertaining me.
I'm happy with dull and earnest. That's not very popular on the Instatwitface world of today though.
Not just politics, but the media, education system, society at large...
It's a sad reflection on the state of discourse in this country. We live in a time where 'intellectual' is routinely used in a pejorative sense, and routinely accepted as such, where facts play second fiddle to ideological beliefs and partisan loyalties, and semi-literate halfwits complain that people that have lived in this country a couple of years haven't learnt the fucking language, blissfully unaware of the irony that they haven't managed it either, despite being born and bred here...
Sadly true.."
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Government continues failure to meet economic goals that were promised at elections, confirming the poor state of the economy under their management and Brexit cluster-fuck. The bigger picture isn't good news, despite thin veils of spin. |
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By *LCCCouple
over a year ago
Cambridge |
"Governments shouldn't really have a surplus. If they don't know what to spend it on, they shouldn't be in government. Pure rubbish"
Pure rubbish? If a government has a surplus, they are either not spending enough, or they are taxing too much to cover their desired expenditure. |
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By (user no longer on site)
over a year ago
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"Governments shouldn't really have a surplus. If they don't know what to spend it on, they shouldn't be in government. Pure rubbish
Pure rubbish? If a government has a surplus, they are either not spending enough, or they are taxing too much to cover their desired expenditure. "
this is fair over the long term... not sure how fair it is to expect them to be profit neutral in the short term... |
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By *LCCCouple
over a year ago
Cambridge |
"Governments shouldn't really have a surplus. If they don't know what to spend it on, they shouldn't be in government. Pure rubbish
Pure rubbish? If a government has a surplus, they are either not spending enough, or they are taxing too much to cover their desired expenditure. this is fair over the long term... not sure how fair it is to expect them to be profit neutral in the short term..."
Agreed |
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By (user no longer on site)
over a year ago
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I seem to remember a certain brief goldilocks period in 1997. After years of thatcherite draconism we emerged blinking into the bright sunlight of a possible golden age. The current account was in surplus. The national debt was on the way down. Economic growth was positive.
Then........ Tony Blair got in power with his mate Gordon. What followed was 13 years of spending and spending, our pensions were plundered and the gold reserves sold for nowt.
It's taken 8 long long hard punishing years to recover and get back to anything like where we were. We have the additional cost of Brexit looming like a sword of damocles hanging over us. The last thing we need right now is an enormous spending splurge. Maybe a small release of purse strings but definitely not a load of renationalisation, huge spending on NHS or any other pet thing that certain people think enormous amounts of money should be spent on. |
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By *LCCCouple
over a year ago
Cambridge |
"I seem to remember a certain brief goldilocks period in 1997. After years of thatcherite draconism we emerged blinking into the bright sunlight of a possible golden age. The current account was in surplus. The national debt was on the way down. Economic growth was positive.
Then........ Tony Blair got in power with his mate Gordon. What followed was 13 years of spending and spending, our pensions were plundered and the gold reserves sold for nowt.
It's taken 8 long long hard punishing years to recover and get back to anything like where we were. We have the additional cost of Brexit looming like a sword of damocles hanging over us. The last thing we need right now is an enormous spending splurge. Maybe a small release of purse strings but definitely not a load of renationalisation, huge spending on NHS or any other pet thing that certain people think enormous amounts of money should be spent on."
Full Fact say that public sector debt increased 53% between 2010 and 2017.  |
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By (user no longer on site)
over a year ago
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"I seem to remember a certain brief goldilocks period in 1997. After years of thatcherite draconism we emerged blinking into the bright sunlight of a possible golden age. The current account was in surplus. The national debt was on the way down. Economic growth was positive.
Then........ Tony Blair got in power with his mate Gordon. What followed was 13 years of spending and spending, our pensions were plundered and the gold reserves sold for nowt.
It's taken 8 long long hard punishing years to recover and get back to anything like where we were. We have the additional cost of Brexit looming like a sword of damocles hanging over us. The last thing we need right now is an enormous spending splurge. Maybe a small release of purse strings but definitely not a load of renationalisation, huge spending on NHS or any other pet thing that certain people think enormous amounts of money should be spent on."
Disagree - if your spending on infrastructure that's "good" spending. It creates an asset for the country, it creates jobs, it creates wealth in the areas where the project is going on. The problem being is getting it right and at this moment in time nobody inspires confidence to get it right! |
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"I seem to remember a certain brief goldilocks period in 1997. After years of thatcherite draconism we emerged blinking into the bright sunlight of a possible golden age. The current account was in surplus. The national debt was on the way down. Economic growth was positive.
Then........ Tony Blair got in power with his mate Gordon. What followed was 13 years of spending and spending, our pensions were plundered and the gold reserves sold for nowt.
It's taken 8 long long hard punishing years to recover and get back to anything like where we were. We have the additional cost of Brexit looming like a sword of damocles hanging over us. The last thing we need right now is an enormous spending splurge. Maybe a small release of purse strings but definitely not a load of renationalisation, huge spending on NHS or any other pet thing that certain people think enormous amounts of money should be spent on."
Jesus...
I'm no fan of Labour, Tony Blair or Gordon Brown, but by fuck it irks me that people are still parroting this shite.
Let's firstly agree that when talking about spending, using nominal sums is meaningless for the sake of making a comparison due to inflation, and actually meaningless full stop. I could spank £100 on something and it would be a trivial sum to me, but to some poor bugger from a 3rd world country it's an annual salary...so nominal sums are irrelevant.
What's meaningful is as a proportion of earnings - so in this instance - % of GDP.
Public spending as a percentage of GDP was higher under both the Major and the Thatcher governments than under Labour up until the GFC hit in 2008.
This whole propaganda line of "they went crazy with the nation's credit card" - crude and effective though it was, is absolute bollocks.
By all means criticise them for feeble regulation of the banks, by all means castigate Brown for bailing out Goldman Sachs by telegraphing his intention to sell off the gold and alerting the market...
But please know that if you buy this whole "public spending - guilty culprit!" narrative they cobbled together, then you are gullible, and more to the point - plain wrong |
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By (user no longer on site)
over a year ago
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While our countries debt level is so high we will never have a "surplus" , it's impossible, now if we didn't have government debt then yes that would then be a surplus. |
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By (user no longer on site)
over a year ago
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"While our countries debt level is so high we will never have a "surplus" , it's impossible, now if we didn't have government debt then yes that would then be a surplus."
And it seems that we will soon be giving it away to africa where no doupt it will ber spent wisely and not pocketed by greedy officials over there. NOT |
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"While our countries debt level is so high we will never have a "surplus" , it's impossible, now if we didn't have government debt then yes that would then be a surplus.
And it seems that we will soon be giving it away to africa where no doupt it will ber spent wisely and not pocketed by greedy officials over there. NOT "
Do you think we give foreign aid "because we're just nice like that"?
Do you think it's done purely out of altruism?
Our government is willing to let old people die off in their homes because they can't afford their heating.
It's willing to sack soldiers that have served their country for years, just weeks before they can collect their pension - and then just as willing to watch them struggle to cope, break down, end up on the street suffering mental health problems and have no qualms about cutting funding to the services that might help them.
It has equally few concerns about shutting down refuges for battered women, or evicting disabled people from their specially adapted home because they can't pay the bedroom tax...
And yet you think they just give away money to all these poor brown people out of the kindness of their heart?
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