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Future of Austerity Mesures
Topic Started: Oct 20 2014, 01:57 PM (55 Views)
Mano Negra
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Jeroen Dijsselbloem
Minister of Finance

Dear friends.

I am here to announce that the Dutch government intend not make further cuts in the following budgets, we won't increase or decrease spending, the cuts already made will be kept, for the time.

We understand that austerity had a moment, but I think the moment has passed; we have to recover expansion, make investments to guarantee the liberty and prosperity of the future generations.

Our government feels that it is time to revert the trend of austerity to a path a little different, we believe that controlling and rationalizing public spending is good, but that for certain things we should allow more expenses.

For example, security, we need to be ready to protect our nations.

For example, public services and welfare, we are proud of our standard of living and we should keep it high.

For example, supporting strategic public projects in all areas, don't we want to improve the conditions of all our fellow allies? We must have coordinated strategic projects, we must provide specific support to the countries that need it. We created this Union so that all could prosper, and we connected ourselves in such a way that we will only prosper if we all do.

So, my friends, I think we need to discuss this, our government is decided that it is time to allow more public investment, without giving up initiatives to rationalize public spending. But we will not pursue a unilateral path, we want to build a common path, with the certainty that we must prosper.

I yield the floor.
Edited by Mano Negra, Oct 20 2014, 01:58 PM.
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winisle
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George Osborne
Chancellor of the Exchequer

We can agree that the time for austerity is past, although that does not mean that it is time for frivolous spending. Measured investments, designed to promote growth, without hurting the fiscal responsibility that is needed in order to maintain those gains that the austerity measures has brought, in terms of reduced, or reducing national debts.

The United Kingdom is not a member of the eurozone, nor a signatory to the European Fiscal Compact, and as such not bound by the agreements made there, but we do feel that those that has agreed to the Compact, should honor it.
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iceviking
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Federal Minister of Finance

Wolfgang Schäuble


We agree with our Dutch colleagues on this. If we act now this sort of thing should not happen again.
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Mano Negra
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Jeroen Dijsselbloem
Minister of Finance

Very well, it seems that we have a good point to start talks: the promotion of investments to promote growth.

We would like to suggest a consensus on cutting taxes on small and medium businesses. Also, I think the stimulus to high technology industries is a good way to promote growth.

Our idea is to increase spending in 2 billion euros by 2016.

I yield.
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winisle
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Ed Balls
Chancellor of the Exchequer

while the lowering of taxes on companies are a good, indeed proven way of promoting growth, it isn't one that the United Kingdom will be pursuing. We would also like to point out that targeted stimulus is against the basic framework that makes up the European Union, and as such, not to be done. The United Kingdom is currently putting together a 110 billion USD infrastructure package that we expect will increase our growth by close to 1% annually for the coming years. This package is to a large part financed through the use of thise EU funds that are allocated each nation for extraordinary investments, such as the ones seen in Spain and Italy with large-scale infrastructure efforts.
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Jos1311
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Head Admin
Contrary to earlier remarks Germany will continue to call for austerity measures to improve the situation, however there is some room as most nations comply to the 3% deficit rule.
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