Deficit

Screen Shot 2015-03-29 at 13.47.03

Lucy Powell confirms: debt-addicted Labour has no plans to balance the books

29 March 2015 14:02

‘You aren’t listening to what I’m saying,’ said a rather rattled Lucy Powell, the Labour election chief, whom the party put up for BBC Sunday Politics today. I suspect that, by now,… Continue reading

45 Comments
photo 1

Ukip backs Osborne’s deficit plans – but how would Farage cut spending?

27 February 2015 12:01

The Ukip spring conference is underway in Margate today, with the party starting the two days of speeches and fringes with a pledge that it will match the Tory plan… Continue reading

12 Comments
Nicola Sturgeon Delivers Anti-Austerity Speech At Universtiy College London

David Cameron is lucky he faces Ed Miliband, not Nicola Sturgeon

11 February 2015 19:03

In some respects David Cameron has been a lucky politician. Lucky that his predecessors had failed so completely that his initial brand of so-called modernisation seemed a punt worth taking.… Continue reading

513 Comments
Image: Getty

Labour’s latest plan: tackling the deficit through gun licence fees

13 January 2015 18:13

listen to ‘Chris Leslie says Labour will cut the deficit through gun licences’ on audioBoom Shadow Chief Secretary to the Treasury Chris Leslie was on the Daily Politics earlier today,… Continue reading

65 Comments
(Photo: Christopher Furlong/Getty)

The Tories need to ‘weaponise’ Ed Miliband’s incompetence

11 January 2015 10:40

Ed Miliband was on Andrew Marr’s sofa this morning, drawing 2015 battle lines. It all looked very encouraging – if you are a conservative, that is. Miliband started discussing the… Continue reading

101 Comments
The poster and the porkie

How Osborne’s ‘deficit halved’ claim backfired  

3 January 2015 9:25

So – how did it go? Yesterday, Tory HQ yesterday issued a poster with the misleading claim that the deficit had been ‘halved’ where in fact the reduction has been… Continue reading

141 Comments
Screen Shot 2014-12-29 at 17.46.58

Why must Grant Shapps spoil a good story with a porkie?

29 December 2014 19:09

An email arrives from Grant Shapps, chairman of the Tory Party, listing the things the Coalition has achieved in four years.  Here they are:- Our economy has grown faster than… Continue reading

103 Comments
(Photo: Paul Hackett/Getty)

Is David Cameron telling porkies on the deficit? His spokesman explains

15 December 2014 17:26

As Fraser points out, David Cameron has gone from saying the deficit has been brought down by a third to claiming it has been halved, but with the often unspoken caveat… Continue reading

32 Comments
The Prime Minister Joins The Irish Taoiseach At Stormont For Cross Party Talks

Labour accuses Government of ‘U-turn’ on Budget charter

15 December 2014 14:42

The government has published its Charter on Budget Responsibility, which at one stage was supposed to be a Labour trap but which now appears to be something that Labour can… Continue reading

11 Comments
Image: Getty

Jeremy Vine and the truth about government spending

10 December 2014 15:57

Those who complain about the BBC (myself included) usually only refer to a small part of a massive and divergent operation. Nicky Campbell on Radio 5 is just superb – not… Continue reading

38 Comments
Nurses of Whipps Cross Hospital, in London, singing Christmas carols to a patient in December 1952 (Photo: Monty Fresco/Getty Images)

How do you solve a problem like the NHS? The Spectator asks the experts

30 October 2014 12:14

So ingrained is the NHS as part of British life that it’s hard to imagine it disappearing. But it can’t go on as it is: its budget is being squeezed… Continue reading

46 Comments
London, May 2011 (Photo: AFP)

How to defuse Britain’s £1.45 trillion public-debt time-bomb

29 October 2014 10:13

Last week’s public-finance statistics were truly dreadful. They showed that despite a year of fairly robust economic growth, UK government borrowing since the start of the financial year 2014 to… Continue reading

99 Comments
(Photo: Getty)

‘Unfunded tax cuts’: a verbal disease from America

7 October 2014 19:54

The notion of ‘unfunded tax cuts’ seems set to be a central theme in next year’s election. David Cameron’s promise last week to raise the income threshold for the 40 per cent tax rate has… Continue reading

89 Comments
Danny Alexander's call for the abolition of higher-rate relief on pension contributions has received the backing of the Centre for Policy Studies. Picture: Getty

Danny Alexander indicates that the Lib Dems wants £5 billion in tax rises

6 October 2014 20:37

In a sign of his enhanced status in the party, Danny Alexander has been one of the main attractions on the conference fringe this year. This evening, it was standing… Continue reading

90 Comments
Image: LEON NEAL/AFP/Getty Images

The deficit and immigration: were there two worse topics for Ed Miliband to forget?

23 September 2014 22:35

No notes speech have been Ed Miliband’s political party trick. His One Nation speech two years ago ended speculation about his leadership and last year’s energy price freeze effort knocked… Continue reading

129 Comments
Consumers Feel The Pinch With Christmas Around The Corner

Government borrowing is up – the economic picture isn’t as rosy as the Tories say

20 June 2014 12:35

It’s tempting given the optimistic mood on the Conservative benches at the moment to think that everything is just great with the economy. Not so, according to today’s borrowing figures… Continue reading

42 Comments
Alistair Darling Poses Before Leaving To Give His First Budget Speech

Tax Freedom Day is a reminder of the choice in 2015: high tax Labour, low tax Conservatives

28 May 2014 14:02

Tax Freedom Day, which falls today, is cause for celebration. It marks the point in the calendar when someone’s income stops paying for their tax bill and they start keeping… Continue reading

53 Comments
Image: Getty

Public borrowing and a target George Osborne might actually meet

22 October 2013 13:14

Some of George Osborne’s targets – like balancing the books – are always five years away; he never has to meet them to claim success, as long as he plans… Continue reading

41 Comments
The-Osborne-Austerity1

Borrowing figures and what really keeps politicians awake at night

21 June 2013 17:32

There was a moment in the last Budget statement where George Osborne revealed that the deficit was – just – lower in the year to April 2012 than the previous… Continue reading

27 Comments
The Osborne Austerity

Deficit falls by 0.3%… maybe

23 April 2013 10:04

George Osborne will be breathing a sigh of relief this morning. The boast he made in his Autumn Statement in December — ‘the deficit is coming down this year, and… Continue reading

28 Comments
Fitch's downgrading of the UK's credit rating isn't as explosive for George Osborne as the first announcement in February, but it's still annoying. Picture: Getty

Fitch downgrades UK credit rating

19 April 2013 17:54

Fitch’s announcement that it is downgrading the UK’s credit rating to AA+ isn’t as politically explosive as the downgrade from Moody’s in February, as it was inevitable that once one… Continue reading

38 Comments
Graphic: Carla Millar

Deficit latest: Still £5 billion higher than last year

21 February 2013 12:51

Today’s borrowing figures show that the government had a surplus of £11.4 billion in January. But before we get too excited, a bit of context is in order. There’s (almost)… Continue reading

47 Comments
Debt 2000-2018

David Cameron rebuked for telling porkies about the national debt

1 February 2013 14:16

Where was Andrew Dilnot in the Gordon Brown era? The head of the UK Statistics Authority has just rebuked the Prime Minister for telling porkies about debt on his ITV… Continue reading

60 Comments
The Osborne austerity has meant core spending cut by just 3pc over 3 years. Debt is soaring - and voters who wanted him to fix all this will be deeply unimpressed in 2015.

Austerity latest: spending up, deficit up.

22 January 2013 12:47

We can all overdo it a little at Christmas, but the government’s monthly overdraft statement — which came in this morning — is of a different order. In December, HM… Continue reading

62 Comments
Picture: Getty Images

The Autumn Statement in 7 graphs

6 December 2012 18:18

1. Growth evaporating. The Office for Budget Responsibility once again downgraded its growth forecasts for 2012-13 and, for the first time, also did so for 2014-16. Despite that, the OBR… Continue reading

25 Comments