We argue for investment but no we must have cuts,and suddenly we have a plan to create growth by? well you tell me .I honestly think panic as finally set in with the Condems.They are running round like headless chickens. I had to laugh though we where talking about the Liberal Democrats future tonight and some one said not very good they are as popular as Greek bonds
PFI is a like a giant government credit card.
It allows ministers to buy and launch lots of shiny new infrastructure projects – without the bill scoring as debt on the nation’s balance sheet.
Instead, just like a credit card, while ministers buy now, we will all pay later.
In fact, over at least a generation or two later.
What Mr Cameron and Mr Osborne meant by “dodgy” was that using PFI in this way flattered the overall picture of our indebtedness as a nation.
They wanted, they said, more transparency.
Yet since coming to office, ministers have signed 34 PFI schemes and another 49 are on their way to being approved.
And that means yet more billions slid onto the PFI credit card.
This includes Health Secretary Andrew Lansley giving the green light to a new PFI hospital in Liverpool costing £1.24bn over 30 years.
That was even though documents obtained by Panorama show that his own officials warned that the “risk” that it might not be able to afford its PFI payments was “significant.”
This has not stopped Mr Lansley from complaining loudly recently that PFI deals negotiated under the last Labour government have brought some parts of the NHS to the brink of financial collapse.
Today we see the Condems following along the trouble is who pays the piper?
Britain is heading for a double-dip recession, a bleak forecast warned today The economic think-tank said the UK’s GDP will shrink in the final quarter of 2011 and the first quarter of 2012 – the first time it has predicted a double-dip recession for the UK. It believes the UK’s faltering economy will grow by just 0.5% in 2012, down from its previous estimate of 1.8% in May, as it is hit by weak demand for exports, the Government’s austerity measures and the squeeze in consumer spending.
The OECD also said unemployment, which currently stands at 8.3% – its highest since 1996 – will rise to 9% in 2013 as jobs figures take a worse hit than in the recession following the banking crisis.
It said more economy-boosting quantitative easing measures from the Bank of England are “warranted”, adding that it expects the stock of asset purchases to rise to £400 billion early next year from £275 billion currently.