Bailout mentality could stave off 30s style crisis
Bailout mentality could stave off 30s style crisis.
The latest survey by HSBC on Tuesday shows a clear majority of Brits think government spending will improve in coming years.
By 51pc to 33pc, the Briti바카라sh public believe government spending will grow by £10billion to £11billion next year as compared to the current £12.3billion spent.
However, a third of respondents (33pc) believe this won’t happen in the next two years, when the current spending freeze in effect runs out.
Mr Cameron’s government plans to spend £100billion over four years this year to bring the economy back into surplus to offset the rise in national debt which is expected to hit around £700billion.
The Chancellor Philip Hammond is set to present his long-awaited autumn statement next week.
A second survey by the Independent survey agency, Ipsos Mori, for a weekly tracking survey of 2,049 people, which follows the publication of the Government’s Spending Review later this week, showed that 45pc of respondents are concerned about the Government’s deficit reduction plans (44pc).
However, only 25pc are of the view that the Government’s proposals have a chance of meeting fiscal targets if they are put forward on a regular basis.
The main problem, according to the findings, is the lack of consistency on how the government plans to meet these targets.
The Government’s latest fiscal plan shows a further £100billion cut in spending this year, following in the footsteps of the previous Labour government of Mr Blair.
When it was published in August 2010, the Spending Review said it was aimed at curbing government debt while taking Britain into the longer term.
The Coalition’s plans are to cut the fiscal deficit to 1pc of GDP for the following six years while also cu우리카지노tting the debt to around £50billion.
But it says the longer term fiscal target of deficit reduction to hit 1.5pc by 2019-20 is no longer realistic in the current economic climate, with interest rates at record lows.
A spokeswoman said: ‘It is very important that the public understand our policy is designed to boost the public finances and that the government is curren우리카지노tly delivering progress to meet that goal.’
