Public spending to rise 10% in cash terms over 5 years:
2009-10 (Last Labour year) £669bn
2010-11 £697bn
2011-12 £700bn
2012-13 £711bn
2013-14 £722bn
2014-15 £737bn (£68bn or 10% above Labour level)
See tomorrow morning’s comment here.
June 22, 2010
The GDP and inflation assumptions are suspect to me. Maybe I'm over-bearish, but I'm suspect of them.
June 22, 2010
They're planning to spend £68 billion MORE?! Shocking.
Clearly some inflation is planned.
June 22, 2010
2% per annum. Growth of 2%. Not a cut at all.
Lets start cutting. How about the Lords for starters?
Nick
June 23, 2010
I applaud the use of cash figures. The addicts of state spending (and control) prefer measuring in 'funny money' because this allows increases in public expenditure to be portrayed as 'cuts'.
The rising cash figures also show that the current public spending debate is largely a pantomine. Over the past 50 years, public officials have ruthlessly used public money to undermine the traditional family unit, our education system, our work ethic, our institutions, and even, now, our charities in order to promote marxoid/Orwellian concepts of 'equality and diversity'.
How the political commissars of 'equality and diversity' in the NHS must be giggling over promises not to cut the budgets for their mischievous indoctrination activities.
Labour has brought this country to the brink of financial ruin. I fear the coalition government may simply be repairing the public finances sufficiently to enable those bent on wrecking traditional England to carry on with their evil mission.
June 23, 2010
That doesn't sound very enthusiastic John. Do you think the cuts should have been even deeper?
June 24, 2010
Sorry to be so cynical but I worked in the public sector for many years and I do know how figures can be adjusted to balance budgets, so when these figures are published I wonder how they came about them.
June 24, 2010
Total spending for 2008/9 included £109.5bn at the Treasury – most of which was bailout money for "financial stability" (and compared with spend of around £2bn in 2007/8). Presumably, since this alone accounted for over one pound in six of the £621bn spending total, there are great saving possible on that front alone – or maybe, hidden in the figures is the next round of banking bailouts.