October 25th, 2012

Now Boulton Joins in Balls Deficit Bashing


99 Comments

  1. 1
    Tooth fairy says:

    Truth is a very flexible commodity.

    Like

    • 2
      smoggie says:

      There is a deficit of truth. In retrospect.

      Like

      • 3
        Anonymous says:

        This is the problem at looking at things in the short term. It would have been better in few months time for Cameron and Osborne to be still in a double dip recession rather then end up being the 1st government that ended up in triple dip recession. Its like a drunk on top of the tree showing off, wait for the fall.

        I do support the view that debt need to be cut the problem is, this government is cutting the meat more than fat and even increasing the fat. E.g. foreign aid, benefits increased by almost 6%, cutting tax super rich pays and increase tax on all others, EU payments, giving money to basket cases in EU (including over £7.5 bn to Ireland), etc.

        Like

        • 18
          Engineer says:

          The underlying problem is too much debt in the sytem. Too much private debt, too much coporate debt (both of which will take time to reverse, and cannot – nor should not – be easily controlled by government) and too much public debt. Government can only control the latter, either by increasing tax receipts (very hard to do when growth is about flat, and tax rates are already very high), or by controlling spending. Government is trying to control spending, but is reducing it at a pace at which it can be replaced by private sector activity. So far, it’s managed OK. Far more spending needs to be cut, but the pace is dictated somewhat by slow growth.

          Government hasn’t got everything right (I’d agree about foreign aid, for example), but the idea that more government spending (i.e. even greater increase in the rate of growth of public debt than we now have) is discredited. It was always a barmy idea.

          Like

          • Anonymous says:

            Debt isn’t the biggest problem, its quality high paying jobs. Also getting debt to consume is the foolish thing UK can do. If these debt had been invested in sound investments UK will be doing fine. UK was letting in cleaners to clean hospitals, when they were allowed to bring in their family they were claiming benefits as well. Even in the boom years there was unemployed but government didn’t get them to clean hospitals.

            Look at Singapore its debt is more than 100% of GDP.

            Like

          • Another economic car crash waiting to happen it would appear says:

            In that case lets just wait to see where Singapore is in a few years time

            Like

          • Anonymous says:

            Tax what about big companies and super rich, seems they can pay (or not) what they like. I am not even against flat tax. But there is some thing very wrong when income and profits can be moved to another country to avoid tax even when the income and profit was made in UK.

            Like

          • Anonymous says:

            competence should be the keyword.
            we are all useless.

            Like

          • another anonymous says:

            Dear Anonymous,

            Don’t waste your time trying to factual/accurate/informed with these vermin.

            They are really just a type of zombie awaiting regime change so their souls (if available) can be released.

            Like

          • UKIP.i.am says:

            “Tax what about big companies and super rich, seems they can pay (or not) what they like. I am not even against flat tax. But there is some thing very wrong when income and profits can be moved to another country to avoid tax even when the income and profit was made in UK.”

            There is a simple solution to this. Reduce corporation tax so that companies prefer to pay their taxes in this country rather than elsewhere, such as Luxemburg. That way we not only get the taxes due from earnings in this country but those from other countries as well. And not only that but it will also help create far more jobs in this country than Labour’s alternative of punishing wealth and job creators and driving them away.

            Like

          • Anonymous says:

            @2.38. desire is a form of entrapment.
            and there you have it. we are all in it together?

            Like

          • Anonymous says:

            UKIP.i.am says:

            Until there is 0% tax they will move it, as long as they are allowed too. 25% tax on profit is reasonable especially when people are paying over 50% tax (income tax, NI, VAT, council tax, petrol tax, etc).

            Like

          • A far, far better way is to limit to 1% of profits the amount that can be charged for “intellectual property rights” by companies such as Starbucks, Google, Amazon, Vodafone, etc… – they currently charge anywhere up to 5% of turnover for this – thereby removing almost all of their UK earned profits to a tax haven where they have set up their “intellectual property” administration centre.

            And threaten to make it retrospective for the last 7 years if they start whining on about job creation and how they will shut down here.

            We pay our taxes – YOU pay your taxes, and wait another year or two to update the corporate jet fleet.

            Like

          • Engineer says:

            Anonymous at 2.27pm.

            During the boom years, we payed large sums to native unemployed people in benefits, whilst shipping in large numbers of immigrants to do the jobs that were available. How does that make economic sense?

            If you don’t like the tax paid by corporations and ‘the rich’, then campaign for a change in tax law. They pay what they do because the law allows them to (eg, Guardian Media Group, the Scott Trust and their offshore companies).

            Like

      • 89

        I find it fascinating that Ed Balls has Gordon Brownesque amounts of denial that he really does think he alone is the solution to Britain’s financial woes and he should be allowed to get on with the job.

        13 years of fiscal incompetence at Gordon side and two years and counting of lies, deceit and denial.

        The Labour party are the bigger fools to think the electorate will ever forget what a mess the two Ed’s got us into.

        Like

    • 22
      Anonymous says:

      Issue this this, when 2007/8 budget was prepared there wasn’t a structural deficit but as actual numbers came in the was due to recession.

      Same as forecast IMF makes, few years ago IMF was saying UK will be growing by over 3.5% in 2012/2013. Which of IMF’s long term forecast happened?

      Like

      • 37
        UKIP.i.am says:

        Balls was relying on the future producing the same level of growth as the past. He and Brown had come to assume this pie-in-the sky illusion could last forever. They had no idea that the pre-2007 boom was totally dependent on unsustainable debt (government, bank and personal debt, which together exceeded all other major economies per capita).

        And this was the major incompetence and failure of the last Labour government. An incompetence they are still trying to deny. It wasn’t the fault of banks or America that we had so much debt in the system. It was all the fault of Labour.

        Like

        • 53
          Anonymous says:

          If debt was invested wisely UK will not be in this mess. Problem was and still is using debt to consume.

          Even under Mrs T oil revenue, etc was wasted on keeping people in home not working. Even if government gives people £20,000 and tell this is your last payment go and get trained for job or start a business. If they waste it, put them on the street and let them stave.

          Like

    • 85
      Repulendum says:

      Balls…?
      Yes, he talks a lot of it.

      Like

      • 96
        Pundit too too says:

        Balls – the most aptly named man in British politics – ever.
        Not sure who the woman in politics is, but perhaps some suggestions?

        Like

  2. 4
    As seen elsewhere says:

    This man has been exposed as part of a ring of powerful people who abused our economy over a number of years. It’s hard to believe that in those days him and his kind were given the keys of power to do what he liked , when he liked. How did he manage to hoodwink so many for so long ?

    Like

  3. 5
    Engineer says:

    Balls talks balls.

    So what’s new?

    Like

  4. 6
    Gonk says:

    I did not have sex with that woman

    Like

  5. 7
    Dennis McShane's Shed says:

    Ed Balls is no Conrad Black is he?

    Like

  6. 8
    Pants on Fire says:

    Go on Ed, tell us there was a surplus of 78 Billion, IMF? never heard of them (LOL).

    Like

  7. 9
    Anonymous says:

    So is he saying that in 2011, what he really meant and was trying to say, was that in 2007 they didn’t believe there was a defecit, and that’s not what he really meant…. errrrr or something.

    Like

  8. 11
    Anonymous says:

    What a fooking idiot – and these are the people to be trusted with running an economy?

    Like

  9. 13
    Govt-By-Cluster-Fuck says:

    It is like shooting fish in a barrel. Balls in full denial , substituting a question of his own then failing to answer the question .

    Like

    • 17
      Tactics for getting out of sticky quesyions #24 "Whats really important....." says:

      Whats really important Adam is that I dream up another question or subject which I am more comfortable with and give an answer to that.

      Like

  10. 15
    Anonymous says:

    So he was being accidentally irresponsible because they did their sums wrong, instead of being irresponsible on purpose.

    Like

  11. 23
    Baron Hogwash says:

    What a knob ed.

    Like

  12. 25
    Ed Balls says:

    Like

  13. 28
    Pants on Fire says:

    Even politicians know when they have finally been caught out telling porkies and admit it, except for Ed, he is pathological liar.

    Like

  14. 29
    Friends says:

    There’s something not right here. When Balls was on Brillo back in April, Ross Altmann the woman who runs SAGA was also on. They were both on today’s programme too and at the very end it became apparent that they are friends.

    From Wiki:
    “governor and non-executive director of the London School of Economics

    In July 2004 Altmann was appointed by Lord Falconer, Secretary of State for Constitutional Affairs, to the Strategic Investment Board for a three-year term. The announcement cited Altmann’s work on the Myners’ review and her then current job as non-executive policy adviser to the Policy Unit at 10 Downing Street on investment, pensions, savings and annuity policies”.”

    I thought the BBC were supposed to have balanced guests

    Link to the April Daily Politics

    http://www.bbc.co.uk/news/uk-politics-17855913

    Like

    • 42
      Mdm DeFarge says:

      Yes, they balance them on the head of a pin to count the angels.

      Like

    • 46
      I don't need no doctor says:

      Altmann is on the DP show an awful lot. Her skin is the same colour as Brillo’s syrup. I reckon he has a thing for her.
      Even though Altman tried to help Balls out, he still kept digging the hole deeper. Let’s hope he remains shadow chancellor as he is such a liability to labour. Millionaireband must be thick not to realise this fact, but there again would he be allowed to anything about Balls.

      Like

    • 70
      Fish says:

      I thought the BBC were supposed to have balanced guests…

      What on earth is balanced about Balls

      Like

      • 75
        Sum ware over the reinbow says:

        Perhaps Yvette appointed her as his chaperone in chief.

        Like

      • 97
        Pundit too too says:

        Strange how the bbc are pushing the charity Children in Need on radio 4 with the Today Programme and Evan Davies.
        Couldn’t be because the head of the Charity is a Blair / Brown advisor, as is this charities policy chief?
        Tut tut.

        Like

  15. 31
    Anonymous says:

    The tories said they would do the same (and would actually have done worse).

    Why blame NuLab for continuing the lies of tories?

    There all worse than each other.

    Like

    • 33

      “There all worse than each other.”

      Ordinarily, this would make no sense, but in the context of British politicians, yes, spot on.

      Like

    • 54
      UKIP.i.am says:

      The thing is that what an opposition says in opposition is nearly always completely different from what they do in government. Listen to Ed Balls saying he will be responsible if he gets in power again. Remember Cameron’s cast-iron promise of an EU Referendum. Remember Clegg and tuition fees.

      So we must ignore anything the Tories SAID but what Labour did. Just as we should ignore all Ed Milionaireband’s policies that are not worth the paper they are not written on.

      The truth is Labour screwed up big time. They allowed debt (personal, bank and government) to soar much higher than in other major countries. And they did this to keep the illusion of growth going in the minds of the gullible electorate.

      How could they give banks the green light to offer 110% mortgages? How could they not see this was unsustainable other than the fact they were grossly incompetent?

      Like

  16. 32
    Edward. says:

    Who gives two hoots for what the IMF thinks [they’re always wrong].

    For Gods sakes, it employs that gallic economic illiterate Lagarde – she told the us the French banks were sound and then joined the IMF and told French banks to re-capitalise.
    What is funny, is for Ed Balls to be thumped by the very people who champion big spending governments running large unmanageable debts urging them to spend their way out of recession [yer know like Gordon did in 2001] – now there’s irony.

    Like

    • 41
      To little to late says:

      The comparrisons with how the media treated Savile are similar. Despite obvious signs that the economy was being built on sand the media chose to turn a blind eye to the truth and now they are calling those responsible to account several years to late. Taking this line of questioning with Brown and Balls back in 2007 might have been more beneficial to the Country.

      Like

  17. 40
    I don't need no doctor says:

    Ed Balls says ” I did not have sex with that woman”.

    Like

    • 56
      UKIP.i.am says:

      I think he sexually-abused and mind-fucked Steph Flanders. If not for that she may have been a decent economist.

      Like

      • 77
        Sum ware over the reinbow says:

        Something obvious about the ‘bottom line’ ???

        Like

      • 95
        Anonymous says:

        The man has an iron grip.
        clearly he is a man possessed.

        what is an eco.no.mist.
        a waste of space. they claim to be no mist merchants, in reality they are opposite.

        Like

  18. 47
    I don't need no doctor says:

    There seems to be a few labour spads making comments. Try all you like but nothing you say can defend Balls or labour.

    Like

  19. 48
    Gordon says:

    Well, I rather liked Jimmy Savile.

    Like

  20. 50
    Aunty Matter says:

    Brillo did a far better job of skewering Blinky. Still no twatwatch tag either Guido.

    Like

  21. 51
    annoyed user says:

    Not only has Balls been made to look a twat but today also marked a big first regarding government borrowing. Instead of just accepting the Labour spin line that borrowing was going up it the phrases “nominal” and “in real terms” finally got a mention and Brillo had to admit that borrowing was going down if you take inflation into account.

    Like

  22. 58
    Traffic Police says:

    There have been several serious car crashes today at various points around the capital.

    Like

  23. 66
    Check facts first says:

    Oh dear, oh dear. I wonder if Ed Balls will excuse himself from PMQs next week. DC will have a field day with him and Ed Miliband. I think Labour must now think it was not such a clever idea to tour the studios trying to rubbish the Coalition. Funny how the BBC are even turning on Labour. Perhaps they are worried what the Coalition intends doing to the BBC when the Savile inquiry reports back. Balls` performance was a on par with the moment when Charlie Stayt asked Ed Miliband what he was worth. Another car crash moment for Labour. Who would have thought it?

    Like

  24. 67
    Postal Vote says:

    However, Ms Stephanie “Two Eds” Flanders*, the BBC’s economics editor who’s highly-rated within the labour party and many NW postcodes, will no doubt manage a very negative spin on the GDP nr during today’s Newsnight.

    * The beacon of neutral economics reporting is known to have dated the two most prominent Eds of the labour party, one of them today circling London’s television studios keeping the other one, his headmaster, out of the storm.

    Like

  25. 69
    Jen The Blue says:

    Surely the issue is the odious Mr Balls lied. Not that this is unusual. Isn’t this the same Mr Balls who denied briefing against his colleagues for Jonah Brown?

    I have trouble even watching the sod on TV – he makes my flesh creep.

    Like

    • 72
      Fish says:

      You reminded me that Balls was also in cahoots with the stooge, Mr Bride.

      McBride was back on the scene yesterday briefing that Cameron had released the GDP figures early.

      Of course Cameron didn’t. It begs the question, though; Is McBride back in harness?

      Like

    • 81
      Gooey Blob says:

      Balls has that effect on most people, and Miliband is seen as a twit. Two reasons why supplementary polling questions indicate Labour are on course for their biggest election defeat since 1983.

      Like

  26. 71
    James F*ckup says:

    As a responsible journalist wishing to inform public opinion can we please talk about the really important issues of the day, the issues which matter to real people such as why the Chancellor sat in a 1st Class carriage with a 2nd class ticket? Stuff the GDP figures, fall in unemployment, rise in retail sales and Ed Balls denying the deficit, denying the growth. Let’s get back to Cabinet minister-baiting.

    Like

  27. 73
    Nutsax says:

    Labour always enjoy a double dip. So long as it’s with your tax and your pension.

    Like

  28. 80
    Up the workers says:

    More proof that Labour fucked us over and left us in the shitter.

    Like

  29. 83
    Tornandfrayed says:

    Once upon a time, Goldilocks the taxpayer was going back into her humble cottage in the woods. “My, my” quoth she “there are three bears in my cottage. And they have been eating pie. Who ate my two pies, paid for with my hardearned money?”

    “I ate the first pie” said Brownbear, in a grim but learing manner.
    “And I ate the second pie” said Ed Millionairebear in an indistinct voice. “I was only following Brownbear’s orders”.
    “But what of you?” asked Goldilocks of the third bear, who had alarming red flashing eyes.
    “I ordered a third pie and ate that too. By the way, I put it on your account without asking you” said BearBalls.

    And so it came to pass that three overly well-fed bears passed into the forest, while Goldilocks settled down to 10 years of austerity.

    Like

  30. 86
    keredybretsa says:

    What a very sad, shadowy figure this Mr Balls is. Having heard and seen this interview one can see that he can’t even tell porky pies properly. A gift that all Dishonourable whatsinnitforme politicians get with their mothers milk, has left him blundering like a jackass. Better if this man stays deep in the shadows never to emerge.

    Like

  31. 87
    Biffo says:

    Was the charmless Mr Ed living up to his nickname of Blinky Balls as he lied, lied & lied again?

    Like

  32. 88
    Anonymous says:

    Hmm. Bit of a worry for Guido is this.

    Mainstream channels actually holding politicians to account for what they have previously said / done, instead of just being a platform for marketing themselves.

    I guess Sky / BBC must have got a researcher each.

    Like

  33. 94
    Lying Knut says:

    I am a complete Ed Balls

    Like


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UKIP’s Patrick O’Flynn:

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Left on Left says:

The lefties are attacking because the panellist is a millionaire and lives in a London home worth upwards of two million. Someone had best tell them he’s called Ed Miliband.


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