Archive for March, 2010

Darlings 2010 Budget: Absurd Forecasts and More Taxation for the Less Well Off

Posted on March 24th, 2010 in UK Crisis

New Labours last budget before the 2010 general election proved to be a holding operation which combined absurd forecasts on the economy that will form the basis for their proposed spending cuts and increased taxes on those on lower incomes. Darling’s forecast of economic growth for 2010 was 1% to 1.5% and for 2011 3% [...]

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Rising Inflation and a Stagnating Economy Will Lead to a Larger UK Pubic Spending Deficit

Posted on March 22nd, 2010 in UK Crisis

Recent data on the UK economy is more bad news for public spending which will lead to the major political parties having to make larger cuts because of their lack of alternatives. The UK economy just staggered out of recession in the last quarter of 2009 growing by only 0.3% and inflation has sharply risen [...]

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  • @TheLeftBanker

    • RBS £2 billion loss not as BBC reports £776 million. Twice as big as forecast. 3 hours ago

    • @BharatKAzad I think so with Portugal 6 months behind and Spain another year 21 hours ago

    • Greece mark II: Portuguese opposition demands €30 billion more of a bailout to keep country afloat 21 hours ago

    • @aidanskinner hedge funds been putting this trade in droves spreading risk over several banks. They now hold about 30% of Greek debt 22 hours ago

    • Greek debt swap deal may fail as hedge funds & other investors would be better off with default and collecting insurance it would trigger 22 hours ago

    • Euro crisis goes global: Preliminary Chinese manufacturing figures for February shoes a contraction. 1 day ago

    • Euro area manufacturing & services output drops in February. Recession on the way. 1 day ago