Extraordinary 6% growth assumptions in government revenue in the Budget

Posted on March 23 2011

I've just churned a few numbers, as follows:

NewImage

These come from table C6 of the budget.

To get his forecast of borrowing down Osborne is having to assume growth in government revenues of 6% plus a year when real growth this coming year will be less than 2% and historically average growth is not more than 2% pa.

That's why you're going to be feeling hard up over the next few years. You're going to be fleeced to repay the debt while big business pays less and the tax planning industry has a bonanza with the massive range of new loopholes announced today.

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1

One Response

  1. kim bjo says:
    March 23 2011 at 6:41 pm

    This is outrageous. You should contact the BBC and get the word out about this.

    “If we have the tooth fairy coming in and giving us magical growth, then these cuts won’t be felt at all”.

    The bastards!