radiantsoul: (Default)
[personal profile] radiantsoul
Today was the budget, I am not sure that much is all that different. It was only a few months ago we had the last one. I am not really making a political point but it is odd that we have to have a new budget every few months. It used to be once a year, and now there is an autumn statement which is basically another budget and occasionally we have emergency ones too.

My big issue is that it seems the numbers are around what is going to happen in 2020, which is four years out. The aim seems to be have a zero balance in at the point. One a spend of £700billion spend and £1800billion national income even small differences in growth rates are going to translate into whopping variances(ie a difference in growth from 2.5% to 2% will be £48bn of income and £15bn in tax revenue).

I suppose it is all pure theatre. But it seems that tax and spending are better designed over a long time frame and not tweaked every couple of months.
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