Downing Street Says

» Friday, October 21, 2005

Economy

Asked if was the Prime Minister still comfortable that this was the right time to raise the overall tax burden on the economy following today’s economic growth figures that showed another slowdown in the third quarter, the fifth quarter of sub trend growth, the PMOS said that tax questions were a matter for the Chancellor at the budget time and a matter for the Treasury to comment on. In terms of the fundamentals of the economy we believed the economy was strong.

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Hmm. Tony babes says Gordie (the fat controller) is the best Chancellor ever – alas he disregards Gordie’s little \xA34 Bn mistake whilst stamping his foot soon after he got the job of course, and the rows he and Gordie have had since. But he won’t be able to disguise or walk away from the black hole we shall soon enter when the profligate overspending and waste of money they have all engaged in will come home to roost. Maybe he is hoping Gordie can hang it out until he (Tones) goes? We shall see. A return of the Billions leeched out of OUR pensions each year would be good – if the economy is in such a "strong" state.
Comment by roger — 23 Oct 2005 on 4:00 pm | Link
I did a search on depreciation on this site. Got no hits. How much of GDP is caused by consumers replacing things that wore out? Isn’t that consumer depreciation? Why do economists not mention it but call it economic growth when consumers spend to stay in the same place by compensating for depreciation?

http://discussions.pbs.org/viewtopic.pbs?t=28529

psikeyhackr
Comment by psikeyhackr — 23 Oct 2005 on 10:58 pm | Link

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Economy

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