{"id":6931,"date":"2010-05-24T10:49:07","date_gmt":"2010-05-24T08:49:07","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=6931"},"modified":"2010-05-24T11:27:20","modified_gmt":"2010-05-24T09:27:20","slug":"why-the-uk-cant-look-for-export-lead-growth","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2010\/05\/24\/why-the-uk-cant-look-for-export-lead-growth\/","title":{"rendered":"Why the UK can&#8217;t look for export led growth"},"content":{"rendered":"<p><a href=\"http:\/\/www.ft.com\/cms\/s\/0\/9862a1a8-6687-11df-aeb1-00144feab49a.html\">FT.com \/ Europe - Berlin prepares for \u00e2\u201a\u00ac10bn yearly cuts<\/a>.<\/p>\n<p>From the FT:<\/p>\n<blockquote><p>The German government is to begin a drastic budget austerity programme next year to set an example to the rest of the eurozone, and comply with a &ldquo;debt guillotine&rdquo; that has been written into the German constitution.<\/p>\n<p>The cuts are expected to total at least \u00e2\u201a\u00ac10bn ($13bn, \u00a39bn) a year until 2016, \u00ac?government officials said.<\/p><\/blockquote>\n<p>When every government is cutting there's no hope whatsoever that the UK will have export led growth.<\/p>\n<p>Which means that the private sector in this country will not be picking up anyone made unemployed by George Osborne this morning.<\/p>\n<p>Which means the \u00a36bn of cuts announced this morning are a farce. This is simply an announcement of a planned increase in unemployment.<\/p>\n<p>And <a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2010\/05\/17\/the-only-way-to-cut-government-debt-is-to-increase-government-spending-2\/\" target=\"_blank\">as I have shown<\/a> - the result will be reduced government income and increased benefits spending which will in combination match the savings made whilst leaving a pile more people unemployed with all the resulting social costs.<\/p>\n<p>Down this path lies double dip recession and depression, with no cut in the state deficit at the same time.<\/p>\n<p>And that's the path Osborne is choosing to follow.<\/p>\n<p>It's an economic suicide note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FT.com \/ Europe &#8211; Berlin prepares for \u00e2\u201a\u00ac10bn yearly cuts. From the FT: The German government is to begin a drastic budget austerity programme next<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2010\/05\/24\/why-the-uk-cant-look-for-export-lead-growth\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6931","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/6931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=6931"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/6931\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=6931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=6931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=6931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}