Probably yes. There is a misconception between deficit and debt

The deficit is falling but as there is still a deficit we are obviously still borrowing so borrowing will be increasing.

Since 2008, public sector debt has increased sharply because of:

2008 recession (lower tax receipts, higher spending on unemployment benefits) The recession massively hit stamp duty (falling house prices) income tax and lower corporation tax.

These cyclical factors have also exposed an underlying structural deficit. (deficit caused by spending greater than tax, ignoring cyclical factors)

Financial bailout of Northern Rock, RBS, Lloyds and other banks.

Posted By: Tony Martin on April 1st 2015 at 19:13:10

Message Thread

Is it true Cameron has doubled the national debt in 5 years? (n/m) (General Chat) - pants, Apr 1, 18:41:36
- He scored 7 goals in 2009 so he is well on the way to tripling that figure (n/m) (General Chat) - Ken Breadstick, Apr 1, 20:35:14
- I read that as camcan (n/m) (General Chat) - Dandy Highburyman, Apr 1, 20:15:41
  - Tbh I probably have (General Chat) - camcan, Apr 1, 20:44:16
    - Honesty the best policy, i find. (n/m) (General Chat) - protheroe fitzgibbon, Apr 1, 22:58:23
    - I looked at my debt today - not pretty! (n/m) (General Chat) - Jumbo1, Apr 1, 20:47:30
- oh good, politics for a pleasant and most welcome change. good idea. (General Chat) - Tombs, Apr 1, 19:33:11
- Probably yes. There is a misconception between deficit and debt (General Chat) - Tony Martin, Apr 1, 19:13:10
  - Excellent summary, Tony. Quite some knowledge there. (General Chat) - norway, Apr 1, 19:15:26
    - That's where I got it from. And? It's true. (n/m) (General Chat) - Tony Martin, Apr 1, 19:16:48
      - boo, i thought you'd writ it for that site (n/m) (General Chat) - Tombs, Apr 1, 19:24:08
      - Oh I see (General Chat) - norway, Apr 1, 19:23:08
        
        Don't need to sound smart (General Chat) - Tony Martin, Apr 1, 19:25:22
        
        your grammar could do with some work though... (n/m) (General Chat) - Ralf Scrampton, Apr 1, 19:30:16
        
        Touch? so could yours Ralf. I'm a dyslexic mathematician. What's your excuse? (General Chat) - Tony Martin, Apr 1, 19:35:27
        
        i ain't making claims about being super smart, just making a joke (General Chat) - Ralf Scrampton, Apr 1, 20:04:33
        
        Ok. (n/m) (General Chat) - norway, Apr 1, 19:27:12
- not yet (General Chat) - CWC, Apr 1, 19:01:15
  - Not just the debt (General Chat) - Cheltenham_Canary, Apr 1, 19:13:26
    - Depends who you believe (General Chat) - Mr Crowley, Apr 1, 19:21:12
      - " I think the real problem was a shared intellectual view right across the entire politica (General Chat) - Ralf Scrampton, Apr 1, 19:28:58
        
        Not just one contributor (General Chat) - Mr Crowley, Apr 1, 19:35:20
        
        oh hell yeah, I ain't making no claims on the rest of his post (n/m) (General Chat) - Ralf Scrampton, Apr 1, 19:53:33
        
        Over 100 of the UK's leading business chiefs seem to agree. (General Chat) - Cheltenham_Canary, Apr 1, 19:51:31
        
        Conservative Party Co Chairman Andrew Feldman helped organise the letter... (n/m) (General Chat) - Larry Hagman, Apr 1, 20:07:22
        
        Who signed it?? (General Chat) - Cheltenham_Canary, Apr 1, 20:09:38
        
        Very rich people declare support for party that supports very rich people (General Chat) - Vivid Data Shark, Apr 1, 20:51:15
        
        Tory donors and Tory peers (n/m) (General Chat) - Ralf Scrampton, Apr 1, 20:13:40
        
        Why are they donors? (General Chat) - Cheltenham_Canary, Apr 1, 20:17:36
        
        Here.... (General Chat) - Vivid Data Shark, Apr 1, 21:02:14
        
        That's 'interesting'. Who'd have thought?... (General Chat) - avenging canary, Apr 1, 21:34:17
        
        Also (General Chat) - Mr Crowley, Apr 1, 21:06:30
        
        yeah, what's in it for them Chelts? (n/m) (General Chat) - Ralf Scrampton, Apr 1, 20:29:10
        
        Sorry, been away running dive theory exams.... (General Chat) - Cheltenham_Canary, Apr 1, 22:37:05
        
        Gender specific. (General Chat) - avenging canary, Apr 1, 22:39:05
        
        Nowt to do with gender (General Chat) - Cheltenham_Canary, Apr 1, 22:51:12
        
        Written by Tory Boy for the Tory Boys (General Chat) - Mr Crowley, Apr 1, 19:53:53
        
        Signed by.... (General Chat) - Cheltenham_Canary, Apr 1, 20:10:32
        
        Tax dodgers, Tory donors and non-domiciles (n/m) (General Chat) - Mr Crowley, Apr 1, 20:18:01
        
        Made me chuckle. (n/m) (General Chat) - avenging canary, Apr 1, 20:31:43
        
        Business leaders and company owners (General Chat) - Cheltenham_Canary, Apr 1, 20:19:33
        
        inequality is up, the richest's wealth is up, their taxes are down (n/m) (General Chat) - Ralf Scrampton, Apr 1, 20:30:21
        
        After the flood (n/m) (General Chat) - Mr Crowley, Apr 1, 20:21:46
        
        After the economy has grown and continues to do so...... (General Chat) - Cheltenham_Canary, Apr 1, 20:29:12
        
        I refer the honourable gentleman to my earlier response (n/m) (General Chat) - Mr Crowley, Apr 1, 20:35:09
        
        But you earlier response (General Chat) - Cheltenham_Canary, Apr 1, 22:38:58
    - Tories wanted less regulation of the banks (n/m) (General Chat) - Larry Hagman, Apr 1, 19:17:12
      - So its their fault then! (General Chat) - Cheltenham_Canary, Apr 1, 19:18:50
        
        Wasn't it world-wide? (n/m) (General Chat) - avenging canary, Apr 1, 20:14:55
        
        Yep (General Chat) - Cheltenham_Canary, Apr 1, 20:32:13
        
        Wasn't the leverage 500 to 1 or something like that (General Chat) - Mr Crowley, Apr 1, 20:36:50
        
        So a world-wide phenomenon was caused by Labour. (General Chat) - avenging canary, Apr 1, 20:36:49
        
        Nope (General Chat) - Cheltenham_Canary, Apr 1, 22:45:51
  - Tories & LD have actually spent more than Labour had planned to do (n/m) (General Chat) - Larry Hagman, Apr 1, 19:13:08
    - oh, Labour are fully supportive of the austerity plans then? sorry, my mistake (n/m) (General Chat) - CWC, Apr 1, 21:25:59
- Dunno, but he's got 18 champ goals. (n/m) (General Chat) - harry boulders, Apr 1, 18:54:11

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