[Tubby Isaacs]

(Original post by pol pot noodles)
It's increased from £35 bn in 97/98 to £102 bn today, so that's an increase of 2.9 times, which I round up to 'tripled'.

What about inflation? Which is higher in health than other areas, because of the ageing population etc.

[Tubby Isaacs]

(Original post by Nick100)
We shouldn't be considering tax rises; that won't help the economy and it will remove the government's incentive to cut spending in the long run. It will also put more pressure on individuals.

One of the major problems at the moment is that banks aren't lending because they have little incentive to; the interest rate set by the Bank of England is far too low, inflation makes lending at that rate pointless. The interest rate should be raised, and government spending should be cut in order to free up capital for investment.

Governments have plenty of incentive to cut spending already- taxes aren't popular. I'm not talking about tax rises now, but when the economy is growing.

Raising interest rates makes borrowing more expensive. It would be a disaster.

[Cassius1993]

(Original post by Mr Dangermouse)
Or simply refuse to repay the debt.

What a brilliant idea. Let's annihilate our credit rating, be unable to fund expenditure and witness riots of an unprecendented scale! You've got my vote.

[Nick100]

(Original post by Tubby Isaacs)
Governments have plenty of incentive to cut spending already- taxes aren't popular. I'm not talking about tax rises now, but when the economy is growing.

But taxes inhibit growth, and if the economy grows then the percentage of GDP required to fund the government will decrease hence a tax increase will be unnecessary.

Raising interest rates makes borrowing more expensive. It would be a disaster.

But lending money is expensive; there are risks involved which make interest necessary. We currently already have a "disaster" because no one wants to lend with a 0.5% return per year. Certainly an increase in the rate would decrease the number of people trying to borrow money, but there would be an increase the amount of money leant out and put to use.

[betaglucowhat]

(Original post by Nick100)
But taxes inhibit growth

It depends on what the tax pays for.

[Nick100]

(Original post by betaglucowhat)
It depends on what the tax pays for.

But money taken in taxes is less likely to be invested in increasing production, and there is less incentive for politicians to spend your money wisely than there is for you to spend your money wisely.

[pol pot noodles]

(Original post by Tubby Isaacs)
What about inflation? Which is higher in health than other areas, because of the ageing population etc.

I was talking about the nominal budget.

[djj]

I've haven't read all the comments so I might be repeating someone but - It's not as simple as left wingers thinking we shouldn't cut
its about where we cut and how we cut.
Many of the "cuts" will not save any money and be counter productive, e.g cut police = crimes increases= costing more money.
I don't believe the government has done enough cut to genuinely reduce waste and bureaucracy. (elected police chiefs????)
The last budget was a huge missed chance of raising money from the richest.
Perhaps this saying applies - Politicians make simple things complicated
Tax wealth more + cut waste + try and grow the economy = happy days.

[prog2djent]

(Original post by djj)
I've haven't read all the comments so I might be repeating someone but - It's not as simple as left wingers thinking we shouldn't cut
its about where we cut and how we cut.
Many of the "cuts" will not save any money and be counter productive, e.g cut police = crimes increases= costing more money.
I don't believe the government has done enough cut to genuinely reduce waste and bureaucracy. (elected police chiefs????)
The last budget was a huge missed chance of raising money from the richest.
Perhaps this saying applies - Politicians make simple things complicated
Tax wealth more + cut waste + try and grow the economy = happy days.

Two things we need to do to improve the deficit, cut foreign "aid", boom, end the wars and occupation, gut the military.

Reduce taxes for the working and middle classes, raise taxes for the very richest, not the "rich", they are, unlike what the left say, vital and productive, the very rich are essentially useless.

Cut a bunch of red tape from the NHS, police, civil services, abaondon the olympics, if you don't think it will be a loss, you are in denial.

[djj]

(Original post by prog2djent)
Two things we need to do to improve the deficit, cut foreign "aid", boom, end the wars and occupation, gut the military.

Reduce taxes for the working and middle classes, raise taxes for the very richest, not the "rich", they are, unlike what the left say, vital and productive, the very rich are essentially useless.

Cut a bunch of red tape from the NHS, police, civil services, abaondon the olympics, if you don't think it will be a loss, you are in denial.

Agree with "Cut a bunch of red tape from the NHS, police, civil services,".
Fair point about rich and very rich
However foreign aid is extremely important.
It's a proportionally small amount of money that full fills a moral duty. Also its a investment , instability and extreme poverty causes major problems in the long run e.g wars. Giving the money to India is mad though.

[Moleman1996]

Bankruptcy.

And then even harsher cuts, just a little further away is all.

[Sdiff]

(Original post by prog2djent)
Two things we need to do to improve the deficit, cut foreign "aid", boom, end the wars and occupation, gut the military.

Reduce taxes for the working and middle classes, raise taxes for the very richest, not the "rich", they are, unlike what the left say, vital and productive, the very rich are essentially useless.

Cut a bunch of red tape from the NHS, police, civil services, abaondon the olympics, if you don't think it will be a loss, you are in denial.

Who are the "very rich", how are they useless and how would you tax them?


And abandoning the olympics at this stage would be pretty stupid given that most of the money is spent..