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Spending Review: IFS warns of deepest cuts in history; "George Osborne will announce the most dramatic and far-reaching cuts to state spending Britain has ever seen"
Topic Started: Nov 22 2015, 05:32 AM (388 Views)
skwirked
On Enforced Vacation
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http://www.telegraph.co.uk/news/politics/spending-review/12009574/Spending-Review-IFS-warns-of-deepest-cuts-in-history.html

Quote:
 


[...]

George Osborne will announce the most dramatic and far-reaching cuts to state spending Britain has ever seen as he sets out his plan to clear the deficit - and run a surplus.

The Institute for Fiscal Studies, Britain’s most influential economic think tank, has calculated that Whitehall departments that have not been given special protection face average cuts of 27 per cent in their budgets, when the Chancellor unveils his Spending Review on Wednesday.

The cuts between 2010 and 2020 will be the deepest ever seen and will reduce the overall size of state spending to its lowest level since the War, Paul Johnson, the director of the IFS, said.

[...]

Meanwhile, the axe will fall on council services such as waste collection and libraries, as well as transport, elderly care, college training, police and fire service funding, he said.

The deep cuts are necessary in order to meet Mr Osborne’s target of wiping out the budget deficit and running a small surplus by the 2019-20 tax year.

“The make-up of the state will be extremely different by 2020 from what it was in 2010,” Mr Johnson said. “It will be much more focused on health and pensions and much less focused on things like provision of local services, police, further education, and other things like that.

“If you put these cuts on top of what we saw in the last Parliament, there really isn’t anything to compare. We have never had anything like it. The size of the state overall will be roughly where it was at the end of the 1990s, which was a historic low for the post-War period.”


Incredibly, people voted for all of this, hope you enjoy it.

http://www.ifs.org.uk/publications/8063

More detailed stats here.
Edited by skwirked, Nov 22 2015, 05:40 AM.
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Replies:
RJD
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Prudence and Thrift
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Affa
Nov 22 2015, 10:21 PM
RoofGardener
Nov 22 2015, 06:56 PM
at the end of the day, it is really simple.

We can't keep spending more than we earn.


The UK is one of the top earners.
This s not about not earning enough. It is about those earners not contributing enough towards the upkeep of the State!

Well as the shortfall is currently around £80b PA could you show the piles of cash where you can mine such without damaging the economy? Remember this is no once off charge but an annual requirement. If you took every Penny of income above £100,000 PA how much do you think that will add to the Treasury?
Truth is that it has been this Gov. that has squeezed the rich and made them contribute a much higher portion and lightened the load on the opposite end. If you think there is more juice in the lemon then you have to show how as it is difficult to accept your proposal is not reasoned and is just vindictive. So please enlighten.



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Lewis
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So the shortfall is (if your figures are correct) £80bn. Well tax evasion costs the exchequer some £82bn/year. So all Giddie needs to do is track down these scroungers and make them pay what they owe. Then job done, deficit annihilated. He could start with his own family!

http://www.taxresearch.org.uk/Blog/2014/09/22/new-report-the-tax-gap-is-119-4-billion-and-rising/

Quote:
 
Most worrying is the key finding of the report, which is that tax evasion is now likely to amount to £82.1 billion a year, and is rising. - See more at: http://www.taxresearch.org.uk/Blog/2014/09/22/new-report-the-tax-gap-is-119-4-billion-and-rising/#sthash.PWZ2abna.dpuf

Edited by Lewis, Nov 23 2015, 07:06 PM.
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Steve K
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Lewis
Nov 23 2015, 07:05 PM
. . Well tax evasion costs the exchequer some £82bn/year. . . .

http://www.taxresearch.org.uk/Blog/2014/09/22/new-report-the-tax-gap-is-119-4-billion-and-rising/ . .
Highly unlikely and even their wild arsed guess (by the infamous R Murphy no less) admits the biggest part of the problem is people doing deals for cash.

Yes we should be tough on Boot Sales and tough on the causes of Boot Sales.
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Affa
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Quote:
 
Yes we should be tough on Boot Sales and tough on the causes of Boot Sales


Should we say the cause was Mrs Thatcher, Conservatism, failed political ideology, or is that being disingenuous.

Boot Sales sprang up everywhere in the 80s, virtually disappeared in the noughties, and are back once more ..... as a legacy!


Edited by Affa, Nov 23 2015, 08:59 PM.
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Rich
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skwirked
Nov 23 2015, 08:51 AM
Tigger
Nov 22 2015, 09:21 PM
Steve K
Nov 22 2015, 07:18 PM


At heart the electorate doesn't want to live within its means and they'll probably stay like that until the international markets force reality on them. There are better ways, we can hope.
Ain't that the truth, unfortunately it's been a British tradition since the 80's to grow the economy with the aid of personal debt, and when that debt becomes unbearable a new way is found of getting round the earlier problems whilst promoting the illusion it's different this time.

The end of boom and bust and the long term economic plan are the same thing, irresponsible bollocks for a nation that refuses to wake up and come to terms with it's doing and where it's heading.
Seconded both.

This govt have proven that they have not got the answer nor do they understand the Q.
Are you suggesting that the other lot do?( I cannot use the word opposition for fear of a visit from the trades descriptions act people.)
Edited by Rich, Nov 23 2015, 09:06 PM.
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Lewis
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Rich
Nov 23 2015, 09:05 PM
skwirked
Nov 23 2015, 08:51 AM
Tigger
Nov 22 2015, 09:21 PM

Quoting limited to 3 levels deep
Seconded both.

This govt have proven that they have not got the answer nor do they understand the Q.
Are you suggesting that the other lot do?( I cannot use the word opposition for fear of a visit from the trades descriptions act people.)
By the same token you couldn't describe the current lot in power a government, for that would surely stretch any valid definition.
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RJD
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Prudence and Thrift
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Steve K
Nov 23 2015, 08:09 PM
Lewis
Nov 23 2015, 07:05 PM
. . Well tax evasion costs the exchequer some £82bn/year. . . .

http://www.taxresearch.org.uk/Blog/2014/09/22/new-report-the-tax-gap-is-119-4-billion-and-rising/ . .
Highly unlikely and even their wild arsed guess (by the infamous R Murphy no less) admits the biggest part of the problem is people doing deals for cash.

Yes we should be tough on Boot Sales and tough on the causes of Boot Sales.
The only reliable estimate known to man where the process of such is defined with all assumptions is that made by HMRC and if one reads the Tax Gap it becomes very clear that maybe ~5% of the the £80b can be found from that source. Now where are they going to find the next £75b? Of course the Ostriches who avoid reality will poo poo HMRC and claim they know better, but with any substantiations.
They could go for Milliband's "hit the rich bastards" and garner anything between -£1b and +£2.5b. But where is the rest to come from? Surely the Usuals have thought this through?
A 40% VAT or just ignore the problem perhaps?
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RJD
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Prudence and Thrift
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Rich
Nov 23 2015, 09:05 PM
skwirked
Nov 23 2015, 08:51 AM
Tigger
Nov 22 2015, 09:21 PM

Quoting limited to 3 levels deep
Seconded both.

This govt have proven that they have not got the answer nor do they understand the Q.
Are you suggesting that the other lot do?( I cannot use the word opposition for fear of a visit from the trades descriptions act people.)
You have hit the nail on the head, those that object, instinctively, to each and every cut have no known alternative strategy, therefore, one must assume one of two things the first being: incapable of formulating such a strategy or comfortable with spending now to the cost of future generations. Maybe one of them after much goading can come out and say with some humility which it is? Just deafening silence!


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skwirked
On Enforced Vacation
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Lewis
Nov 24 2015, 08:14 AM
Rich
Nov 23 2015, 09:05 PM
skwirked
Nov 23 2015, 08:51 AM

Quoting limited to 3 levels deep
Are you suggesting that the other lot do?( I cannot use the word opposition for fear of a visit from the trades descriptions act people.)
By the same token you couldn't describe the current lot in power a government, for that would surely stretch any valid definition.
A crap govt.

Up there with Asquith, Baldwin, Eden, Jim etc.

And the opposition are dire too but still an improvement even if they don't understand the Q or A either. ;)
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papasmurf
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Lewis
Nov 24 2015, 08:14 AM
By the same token you couldn't describe the current lot in power a government, for that would surely stretch any valid definition.
Quite. I am still waiting to see any visible signs of a recovery. I had the misfortune to spend two hours in Penzance yesterday. The economy can't recover with about one in four shops a charity shop, a similar number "Pound" type shops, second hand good shops, "hippy shops."
Most of the rest cafes or some kind of takeaway.
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