I don’t know what he’s referring to when he references the health of the economy, because there’s no context, nor is the full quote present. But if he’s talking about debt as a percentage of GDP, it’s over 100% now, which hasn’t been the case since World War II debt was paid down past that point in the early 1960s.
Reducing that ratio will probably mean spending cuts or more taxes or both. Both are already apparently happening now. At the end of last year:
UK finance minister announces tax hikes and spending cuts, says country is in recession
Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined around £30 billion in spending cuts and £25 billion in tax hikes.
Does it say in the article that he is planning cuts? My understanding of it was that he just said he wasn’t going to start suddenly spending a bunch more money
His plan to fix over a decades worth of spending cuts is spending cuts? The fuck?
The conservatives burn it all down, the liberals preserve the status quo - even if that’s ashen ruins.
Perish the thought of building anything - that’ll mean we can’t give tax breaks to those that need them the last.
The liberals…?
They used lower-case L, suggesting they mean a place on the political spectrum, rather than a political party.
The Labour Party.
This isn’t unique to the UK by any stretch of the imagination, which is why I used the broad terms.
I don’t know what he’s referring to when he references the health of the economy, because there’s no context, nor is the full quote present. But if he’s talking about debt as a percentage of GDP, it’s over 100% now, which hasn’t been the case since World War II debt was paid down past that point in the early 1960s.
Reducing that ratio will probably mean spending cuts or more taxes or both. Both are already apparently happening now. At the end of last year:
https://www.cnbc.com/2022/11/17/uk-finance-minister-announces-tax-hikes-and-spending-cuts-says-country-is-in-recession.html
Does it say in the article that he is planning cuts? My understanding of it was that he just said he wasn’t going to start suddenly spending a bunch more money
I may be being overly pessimistic but it reads like speding cuts at worst or spend freezes at best for their term in government to me.