New Labour told deal with UK deficit they ran up, part2 (20Jan10)

Part 2 of 2: Will Hutton from the Word Foundation (an oxymoron if ever there was one), and Conservative MP Philip Hammond argue about the Bank of England governor's call to do something about the UK's terrible budget deficit.

Will Hutton gives a shocking ignorant view of the deficit, that the UK's AAA credit rating will not be downgraded if New Labour stayed in power, and we don't need to cut back on public spending like the nasty Conservatives propose.

Spending £30bn less a year is nothing, and you can cut that in a few minutes from the UK's budget. But Hutton claims what New Labour are going is heroic for cutting £30bn. £30bn doesn't even cover the cost of the interest charges on all the debt New Labour have run up.

Recorded from Newsnight, 20 January 2010.

Category:

News & Politics

Tags:

• will
• hutton
• work
• foundation
• philip
• hammond
• tory
• conservative
• new
• labour
• told
• to
• deal
• with
• budget
• deficit
• they
• ran
• up
• uk
• recession
• depression
• bank
• england
• mervyn
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• governor

[MikeyS01]

I remember they said that the banks were "too big to fail".......obviously the country isnt in their eyes

[britdog01]

How come the banks are happy chappies, and the country is so screwed, why did we bail them out, our parliment has put the scum before the people they suppose to serve.

Or is it to keep that fiat currency running. a ha....

[StopEastPropaganda]

@TheRabitPoo are you high on something, I know all about the scramble for Africa and I wasn't debating that, The issue on the table is weather or not it can be labeled as a single holocaust, can you not comprehend this?

[StopEastPropaganda]

@TheRabitPoo

What don't I know about enough to begin with, I know about Slavery and the Congo and when I mentioned the Herero I thought that was what you meant by African Holocaust, but you didn't answer my question

[StopEastPropaganda]

@TheRabitPoo Problem: all of those things are not the same

African Holocaust: You mean the Herero Genocide?

Slavery=Reduction of a persons life to personal propertey

Colonialism=Imposition of foreign rule upon a people. You can't lump all of those things together and label it as a single Holocaust.

[StopEastPropaganda]

@TheRabitPoo so what, you don't know what to say?

[StopEastPropaganda]

@TheRabitPoo So in every area Europeans colonized they committed Genocide, you claim this to be fact lol is this some kind of joke???

[StopEastPropaganda]

@TheRabitPoo European colonialism can lead to genocide as can any form of conquest but that doesn't make conquest or colonialism as a whole genocide, and what do you mean "you" automatically have a problem with it

[StopEastPropaganda]

@TheRabitPoo people can claim allot of things, doesn't mean that they'll get this. Yeah there are still allot of survivors of Colonialism, yeah but I thought this regarding slavery and Genocide???

[StopEastPropaganda]

@TheRabitPoo There are no people who were slaves who are still alive today but there are survivors of the holocaust still around and with the memory still vivid in their minds so regardless of race the two scenarios are incompatible

[chazfrmdaygo23]

@TheRabitPoo Those enslaved people have been dead for a handful of centuries, so your argument is neither relevant nor sympathetic.

[karuspery]

I am no financial guru by any stretch of the imagination but I saw this bust coming about 4 years ago. I remember seeing people taking 2nd/3rd mortgages out on their homes.Being offered and taking generous credit cards. Filling shopping trolleys to the brim with luxuries.Packing the shopping into the latest cars. I thought then that it was totally unsustainable and that it must come crashing down sometime.How did Gordon miss that then?