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back to article Osborne promises to curb deficit in five years

Chancellor George Osborne's emergency Budget today promised to increase tax allowances but also increase VAT in an effort to balance the need for huge cutbacks with protecting the nascent economic recovery. He promised decisive action to deal with the UK's record deficit, but also to protect the most vulnerable. He said choosing …

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FAIL

That's impressive

"He noted that one pound in four being spent was borrowed."

Which country again ? Greece ?

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Welfare cheat

The Queen's the biggest benefit scrounger of them all.

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£7.9m

Is that all we pay for the royal family? Given how much money they bring in from overseas I'm surprised it isn't more.

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IT Angle

paying for brenda's family

we pay shit-loads for the royal family. the £7.9m is what the taxpayer hands over directly and is the tip of a very large iceberg. there's lots more in hidden costs. for example having half the army ponce about in front of buck house all the time and the round-the-clock police protection bodyguards. the queen's flight - a fleet of jets - is paid by the raf. the navy used to meet the running costs for the now decomissioned royal yacht.

or how about prince dickhead's helicopter trips to play golf/visit the girlfriend/go to the theatre/get to a polo match. in air force and army choppers, not his own. then there's all the grace and favour real estate in knightsbridge for the flunkeys and other hangers-on. plus all the fucking castles and palaces. why do they need so many? we pay for all that too. the royals don't even pay council tax.

oh, they also own lots and lots of land. just about everyone in cornwall pays rent one way or another to prince charles. that keeps him supplied with servants to squeeze his toothpaste (not a euphemism). the money from the dutchy of cornwall supposedly makes him "self-supporting" and he pays taxes on that income. fine. but if we didn't have a duke of cornwall, people wouldn't be paying ground rent to keep chaz and camilla in the lap of luxury. the same goes with all the money raised from the crown estates which goes into brenda's handbag. it's still money that comes out of our pockets and into theirs. the only difference the government doesn't hand it over as a clearly identified expense.

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well done george

this could have been horrendous. instead its balanced, well thought out, and fair. the steady hand of the liberals seem to be working

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Flame

The Definition Of "Well Done"

..would be to fess up to the Public that the days of reckless spending must stop NOW, if they don't want to risk default.

Everybody, not just the politicos, thinks that a balanced budget "can be achieved in 2016, possibly 2015". We all know that in the year 2015 the projection for a balanced budget will be 2020.

And the default will be in 2017, probably.

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Anonymous Coward

Yeah

F**k the little people. In fact, why not stick them all into little pods and harvest their energy?

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FAIL

Little People

...sucking money off in small amounts can kill a state's finances. That is exactly what happened in Greece. They jacked up pensions to crazy levels and reduced retirement age to something like 50 and that killed them financially.

The "rich"/big euro countries came to their rescue, but what happens if these "rich"/big states are in trouble ? There is nobody who could save Britain and Spain defaulting at the same time. Britons and Spainards would simply have to accept that all their bank savings are wiped out, effectively. Probably the state would also help itself with stock accounts and other deposited securities.

You want that ? Go on doing deficit spending and it will happen sooner or later !

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I see the grown ups are back in charge

Hopefully having wound in the economic experimentation a bit, they'll make a start on the legal and social fluff as well.

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Happy

@Rogerborg

"I see the grown ups are back in charge "

Not quite fair.

Pop quiz

Which party (when in power) would order the Bank of England to cut interest rates prior to a general election to trigger a personal credit boom and "Feel good factor" to get re-elected

3 times in a row.

I suspect that historically setting a *legal* minimum wage and giving the BoE independence may be two ( of a *very* short) list of *real* Labor party achievements of the last administration.

I would not include the £12.7 Bn (originally c£5Bn) NHS IT (some of which is good but *so* interlinked with a *lot* of rubbish), the massive schools and hospitals PFI programmes (IIRC creating £40Bn of assets with £60Bn of *taxpayers* money), and a couple of massively expensive and it would seem futile foreign wars on that list.

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Coat

quick fix

"He warned that questions over sovereign debt were currently putting the recovery at risk."

Sorry I asked. Will it be OK now?

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Anonymous Coward

That's me fucked

Protecting the vulnerable? Bullshit. He's hit the working poor and people who can't work due to disability hardest, while not targeting those who choose not to work. It's a fucking joke. Oh and George, someone in government should probably do a bit of background reading on benefits and the like. Saying he plans to introduce interviews/medicals for people in receipt of disability benefits made me choke on my lunch. Not sure why people think we just pick up the phone and scream "I SICK GIMME MONEY", and then receive it. Contrary to Tory belief it's not that fucking easy, already involves home visits, regular checks, and confirmation of all claims with the relevant medical professionals.

Why not restrict child benefit by means testing to save money? Cameron and the Beckhams don't need it.

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