The Talking Clock is an opinion based, independently authored, small 'c' conservative, libertarian blog.

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Sunday, 14 February 2010

Are you remembering what I'm remembering? - Part 1


Are you remembering what I'm remembering?

"As a result of our overall prudence, debt as a proportion of GDP is set to fall below 40% to 39% next year, to 38% and then to 36.5%."
- Gordon Brown, November 1998

Are you remembering what I'm remembering?


"I have one further announcement: Because of our prudence in the management of public finances, Government spending is well within the limits we set. Our prudence is for a purpose."
- Gordon Brown, November 1998

Are you remembering what I'm remembering?


"As a result, our current budget this year is expected to be £5.5bn pounds in surplus, and what was prudently projected to be net borrowing of £1bn is now expected to be a debt repayment of £1.5bn."
- Gordon Brown, November 1998

Are you remembering what I'm remembering?


"It is because we are cautious about the balance of risks in the economy that we have based public finance forecasts on deliberately more prudent assumptions than before. First, our public finances are planned on an estimate of 2.25% trend rate of growth, 0.25% lower than the assumption that we inherited."
- Gordon Brown, November 1998

Are you remembering what I'm remembering?


"So, even after making most prudent assumptions and then taking into account the world downturn, we meet our first rule - to balance our current budget over the cycle."
- Gordon Brown, November 1998

Are you remembering what I'm remembering?


"An estimated current surplus for the coming five years of £33bn pounds, a margin that shows that we are equipped to cope with further uncertainties. This £33bn contrasts with, under the last Government, a deficit of £149bn over the economic cycle, as national debt doubled. Our second rule, the sustainable investment rule, requires that, as we borrow for investment, debt is set at a prudent and stable level."
- Gordon Brown, November 1998

Are you remembering what I'm remembering?



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