Saturday, January 25, 2014

That's a good one...

Anyone reading what Ed Balls is promising the UK public on creating a surplus from the current deficit ought to be reminded of a previous Labour saying as let slip by a barrister acting on their behalf. @Manifesto promises are not subject to legitimate expectations.'
Telegraph.
Shadow chancellor Ed Balls makes "binding fiscal commitment" if the Labour Party wins next year’s general election
Labour has given a deadline on when it would eliminate Britain’s budget deficit.
Ed Balls will say in a speech on Saturday that the party will clear the £86  billion deficit in current budget spending by 2020 if it wins the next general election.
The shadow chancellor will make a “binding fiscal commitment” that a Labour government will balance the books as soon as possible after 2015 and by May 2020 at the latest.
It is the first time that Mr Balls has given a deadline on eliminating the deficit, which is forecast to be £51.4 billion at next year’s election.
George Osborne, the Chancellor, has committed by 2017-18 to eliminating the current account deficit, the shortfall between government tax revenue and spending on services. Labour is carrying out a “zero-based review of public spending” to root out waste and inefficiency “by examining every pound spent by government from the bottom up”.
Apart from the fact that no politician can possible imagine what's round the corner you do have to laugh at a Labour politician going on about spending as they are very much not their own masters when it comes to budgets. The minute the pinch hits their union masters, the minute the purse strings and borrowing will go through the roof. Ed Balls is a time served follower of the socialist magic money tree philosophy of economics where if money is required, taxes and borrowing go up and keep going up as the various pet projects of the comrades keep getting piled onto the bonfire of vanities. Sure there's a place for looking after those who are struggling, but Labour take it upon themselves to not only gild the lily, but to cover it in an inch of 22 carat gold.
To put it simply, politicians in general and Labour specifically simply don't have the common sense to stick to their word and apply sound financial sense to the countries finances.
So giving us a budget surplus Labour style is probably a figment of Ed Balls imagination and about as likely as five beans growing into a giant beanstalk...

3 annotations:

Kath lissenden said...

Ed Balls lives in la la land where he consorts with Dipsy Tinkywinkey and Po, The man has as much common sense as brick and is as likely to keep a promise as I am to become queen of England.
In short the last Labour government were the most squanderous wasteful and useless bunch of economists ever.
Gordon Brown the self styled "hero of economics" was probably the most delusional and dangerous man in economic history, encouraging people to spend money they did not have and had no hope of ever repaying. Why in god's name would anyone believe this load of old trip being spouted by Ed Balls. I wonder if all labour politicians are taking some delusion inducing substances given the trail of rubbish they have been issuing lately.
It is quite amusing that given their alleged attempts at breaking the bonds of the unions they are still spouting this garbage. Anyone with an iota of common sense can see through this ruse, the trouble is Blurgh and Brown ensured common sense was killed off during their time in office and so we are stuck with a generation of idiots who believe this political gerrymandering.

Mr. Morden said...

He is only going to 'balance' the budget FFS. What about paying off the National Debt and all those PFI schemes that Labour indulged kept off the Books. Scandalous !

I could balance the budget now ! Stop giving other countries our money. Stop paying fake charity taxpayers money. Stop giving money to both Scotland, Ireland and Wales. Leave the EU and stop giving them our money. Stop health tourism.

I could go on. Its not difficult once you start. If you look after the pennies, the pounds tend to look after themselves.

Oh, and one of the words used to 'Prove that I am not a robot' is, Fiscal.

Funny that !

john in cheshire said...

It's a symptom of the ingrained corruption of the labour party that Mr Balls is still playing a prominent role in the shadow cabinet. After what he is associated with, during the 13 disastrous labour years, any normal party would have consigned him to the back benches, if not expelled him from the party.