UK DEFICIT HIGHEST FOR 67 YEARS Update 24 Jan., 2018

SUMMARY - Now under Johnson, PM, everything is hashed up. Johnson due to CV19 eventual lock-down, had to borrow heavily but at the same time he handed out contracts, without tender and repayment clause, to his donors and spent £blns of taxpayers' money. Contracts which were hardly or never fulfilled. In other words his friends cashed in on the worst time UK experienced and 81,000 died from CV19 from Johnson's mismanagement. 

Update 24 Jan., 2018 - It had been revealed by Office of National Data that the present National debt has increased to £214,800,000,000 since May became PM.

May still stands in the House of Commons and tells nothing but lies plus criticising Labour after she/Cameron doubled the National Debt. Is there no way to get her and her zombies out fast to stop and save further damage and death due to her policies? Also to confiscated tax dodgers' money from tax havens to pay for the increase of National debt the Tories caused and filled their pockets with - £214,8trillion. 

Update 29 Dec., 2017 -- UK has now been degraded from the 6th to 7th place in the Credit Rating. It is even behind France and India. What kind of Government is this? Yet since 2010 they all just sit back and let it go on!

Update 22 Nov., 2017 -- Tories 'miracle' is despite all the cuts, austerity, new £12bn Welfare cuts from 1 April, 2017 and now Universal Credit which does not pay for 6 weeks they managed to increase National debt to £1,83trn. October 2017 shows an increase of £500bn. 

In 2009 the National debt was £800bn now £1,83trn. 

How on earth are they allowed to go on?

2,500 disable people committed suicide or starved to death
3 million rely on feed banks
Families are homelessness because of benefit cuts and spare Bedroom tax.
The Government increasing debts by the millions of pounds and nobody challenge or stops them

 

My Points of View: Another failed promise of a better economy plus increased employment. The figure of unemployment reduced is nothing but fabricated with sanctions, Zero-hour contracts etc being taken off unemployment

It was only in April 2015 when PM David Cameron and his party were criticising the Labour Party and Mr Miliband about their “failed” economy and at the same time they promised an improvement, reducing debts and deficit, in their General Election campaign.

On account of that Labour lost the election and the Tories won. It was nothing but lies and dirty smears with which they won.  

How could people fall for it and trust the Tories gains after having had already five years of austerity and Welfare cuts bringing them down to use Food Banks, starvation and homelessness with Spare Bedroom tax.

In my opinion: the voting result was rigged!!!

Labour faced a Global Recession in 2008 which got the GDP down to minus 2.6 and in 2010 showed a GDP plus 1 per cent. It vanished under the Tory-led Coalition Government within three months and the following year showed two recession and narrowly missed a third.  Despite of all that Mr Cameron blamed Labour for the "Credit Crush" for years even it was Global and started in the USA.

Today, it was revealed that UK Deficit during the last three months till December was £32.7billion = 7 per cent GDP.

The year 2015 the deficit if £96.2billion = 5 percent GDP and accounts for the highest since records began in 1948 despite of austerity and 40 per cent Welfare Cuts bringing the public down to rely on over 1,000 food banks, selling any big nationalised organisation

One promise during the Election campaign David Cameron kept was:  “We want to finish what we started.”  Well the result shows.

British import of goods, service and investments income was high and more than its exports.

At the same time the Office of National Statistics (ONS) show UK economy grows 0.6 per cent in the last fourth quarters of 2015.During the whole 2015 the economy grew 2.2 per cent and was caused by an increase in the service sector and a smaller contraction in industrial production.

The deficit records show more money going out than coming in the country and is different to the Chancellor George Osborn’s budget deficit.

A deficit is caused by dividends from profitable companies where they are sent back to their foreign owners and money paid to employees overseas by British companies.

The ONS stated: “The deficit had widened because income from the UK’s direct investments abroad had fallen, while payments to foreign investors in the UK has risen.”

Of course, this disastrous deficit account was straight away snapped up by Chancellor George Osborne and turned into a positive weapon to their advantage “UK should not be contemplating leaving the EU.”

He added: “Today’s figure expose the real danger of economic uncertainty and show that now is precisely not the time to put our economy at risk by leaving the EU.”

What is the Chancellor talking about/ EU Market are importing more than the UK export. Does he really believe that these importers would stop? If Brussels plays a heavy and stops the import it would a loss to the EU market and then there is always a World Market out there.

Germans and French demanding now a referendum for IN/OUT of EU.  The EU was a good idea in principle but failed their people by bringing the countries down into debts while squandering billions of pounds.  Mr Osborn does not talk about that.

Not to speak about the disastrous handling of economic refugees by Brussels which apparently does not want to know? It refuses to close the borders around Europe, refuses to sent back the boats like Australia, refuses to have a blockades by the navy but, again, demands £500million from the UK only to compensate Turkey with a total of £4,5billion.