Tag Archives: UK deficit

UK News — GDP Stronger Than Expected

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As expected, boom time for now as the massive deficit spending raised savings and incomes, recharging consumer batteries, and supply the financial equity to fuel the subsequent expansion.

Look for rate hikes to add gasoline to the fire as well.

The risk of slowing from fiscal tightening is way down the road.

In fact, it’s usually the automatic stabilizers that tighten things sufficiently to throw the economy into reverse.

Again, years down the road.

Someday they may learn to use proactive fiscal rather than let the automatic stabilizers reverse recessions…

UK Headlines:

U.K. GDP Jumps Most in Four Years as Recovery Ignites

Bank of England Rate Setters Surprised By High Inflation,says Spencer Dale

U.K. BBA June Mortgage Approvals Fall to 34,813 From 36,418

Osborne Tells Cabinet He’s Cautiously Optimistic on Economy

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UK Economy Grew Unrevised 0.3% in First Quarter

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Still looks to me like the UK budget deficit has been more than sufficient to support at least modest GDP growth.

UK Headlines:

U.K. Economy Grew Unrevised 0.3% in First Quarter

U.K. Consumers Predict Economy Will Worsen, GfK Survey Shows

U.K. Mortgage Approvals Rose 2% in May From April, CML Says

U.K. Profit Warnings to Climb as Deficit Cuts Kick In, E&Y Says

Osborne Says U.K. Budget Cuts Needed to Avoid ‘Downward Spiral’

U.K.’s Budd to Propose More Independent OBR, Telegraph Says

Blanchflower Says Economy May See Long Decade of Slow Growth

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UK News

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Too bad he’s gone over to the dark side.

Hopefully it doesn’t actually happen.

Brown Says U.K. Deficit Plans Go Further Than Other Countries

April 12 (Bloomberg) — Prime Minister Gordon Brown said his plans to reduce the deficit show his Labour Party has “done more than any other country” on the public finances.

He said the government would achieve 11 billion pounds in efficiency savings, and savings of 4 billion pounds from public-sector pay and pensions. He spoke at an event in Birmingham to introduce the party’s election manifesto.

Brown also said Labour would not make a pledge on increases in value-added tax, and his deficit reduction plans do not depend on such an increase.

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