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Francois Hollande


dune
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What I haven't quite got my head around is that he has said that he is committed to the spending cuts currently in place, but he is also going to stimulate growth. I am interested to know how he is going to magic up this growth from with spending a ton of cash.

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What I haven't quite got my head around is that he has said that he is committed to the spending cuts currently in place, but he is also going to stimulate growth. I am interested to know how he is going to magic up this growth from with spending a ton of cash.

 

Isn't that what Millibean is going to do too?

 

It's living in cloud cuckoo land. We are up to our eyeballs in debt, running a deficit, and in anycase we haven't seen any cuts as such yet anyway. Unless we make these painful sacrifices we're going to get clobbered by the money markets and if that happens we'll be in the same danger zone as the PIGS.

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Isn't that what Millibean is going to do too?

 

It's living in cloud cuckoo land. We are up to our eyeballs in debt, running a deficit, and in anycase we haven't seen any cuts as such yet anyway. Unless we make these painful sacrifices we're going to get clobbered by the money markets and if that happens we'll be in the same danger zone as the PIGS.

 

There was a guy on Newsnight on Weds, Terry Smith. He said that people were deluded if they think that by spending more you could create growth.He said that the previous Labour Govt spent £2.18 for every £1 of growth, even before the downturn, and this is just not sustainable. It is kicking the can down the road, it may get you elected but somebody else will have to deal with your deficit later down the line.

 

He was not a politican and saved his main contempt for the Tory on there. He explained ( and the Tory, despite his bluster, couldn't counter the arguement) that this Govt was cutting spending by just 1.5% in 2011-12 ( I think he said it was 0.7% of GDP), and that spending was 50% higher in real terms than it was 10 years ago. He went on that that amount is hardly "Austerity", and that you can not cut Govt spending unless you have real cuts in welfare and NHS spending, everything else is just tinkering around the edges. He also said that we never came out of recession, but that £500bn of deficit spending & £325bn of Quantitative Easing enabled us to inch over that particular line.

 

His recipe, is to cut spending dramatically enough to be able to cut taxes for people and Companies.

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There was a guy on Newsnight on Weds, Terry Smith. He said that people were deluded if they think that by spending more you could create growth.He said that the previous Labour Govt spent £2.18 for every £1 of growth, even before the downturn, and this is just not sustainable. It is kicking the can down the road, it may get you elected but somebody else will have to deal with your deficit later down the line.

 

He was not a politican and saved his main contempt for the Tory on there. He explained ( and the Tory, despite his bluster, couldn't counter the arguement) that this Govt was cutting spending by just 1.5% in 2011-12 ( I think he said it was 0.7% of GDP), and that spending was 50% higher in real terms than it was 10 years ago. He went on that that amount is hardly "Austerity", and that you can not cut Govt spending unless you have real cuts in welfare and NHS spending, everything else is just tinkering around the edges. He also said that we never came out of recession, but that £500bn of deficit spending & £325bn of Quantitative Easing enabled us to inch over that particular line.

 

His recipe, is to cut spending dramatically enough to be able to cut taxes for people and Companies.

 

I saw that debate and the bottom line is that you cannot believe what any politician says. The best thing that can now happen is that the the European bureacrats get together and formulate an orderly break up of the EURO, but i'm afriad they won't do that so it's going to be a complete mess when Greece leaves, followed by Spain, followed by Portugal and Italy. The sooner we this show on the road the better. All this dithering is putting off the inevitable and making things worse.

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I suppose his first move as President of cutting his own and ministers salaries by 30%, making them on day 1 all sign a charter forbidding second interests, and resigning if they lost their parliamentary or deputy seats, constitutes the brain of a clown.

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