Rachel Reeves heading for disaster as new OBR forecast.

[stevewinn]

Rachel Reeves heading for disaster as new OBR forecast deals body blow to finance plans.

Rachel Reeves has received a major blow after the UK’s economic watchdog delivered its first verdict on the state of the country’s finances ahead of the Spring spending review.

The Office for Budget Responsibility (OBR) has found that Ms Reeves is on course for a Budget deficit thanks to her decisions, something that would break a key promise by the Chancellor.

Ms Reeves has pledged that day-to-day spending must be paid out of taxes and can’t come from borrowing.

Therefore the OBR forecast, revealed by Bloomberg, means Britain is on course for either higher taxes or spending cuts - something that could prompt a major rebellion by Labour MPs.

https://www.express.co.uk/news/politics/2013232/rachel-reeves-obr-forecast-leak

I and others said it was going to be a disaster, and its proving to be true.

Last week the Bank of England cut their 2025 growth forecast from 1.5% to just 0.75%, warning that business, consumer confidence and Jobs are on the slide.

Remember the economy Labour inherited.

The UK had grown at a 2.2% annual rate in the first half of 2024, and inflation was at 2%. How has Rachel managed to get growth down to near zero and inflation heading for 3.7% according to the Bank of England? How did she get longer term interest rates higher than Liz Truss, which Rachel called ‘crashing” the economy?

Good old Labour took growth and destroyed it.

Taxed Employers for each and every Employee they employ. It's costing my employer over £2,500 extra a year just for me. cant see me getting much of a pay rise this year. If at all.

Taxed small businesses, Allowed Council Tax to increase. Taxed Farmers, took the winter fuel allowance off the pensioners, While giving away £ Billions of our money abroad. The list goes on and on.

 

 

 

[+ouija ouija]

15 minutes ago, stevewinn said:

Rachel Reeves heading for disaster as new OBR forecast deals body blow to finance plans.

 means Britain is on course for either higher taxes or spending cuts -

 

 

 

Cornwall Council announced today that they will be increasing taxes AND cutting spending!

[stevewinn]

5 minutes ago, ouija ouija said:

Cornwall Council announced today that they will be increasing taxes AND cutting spending!

Its shocking.

What a lot of people don’t realise Council tax, 25% of it goes towards Public sector Pensions. So When Rachel Reeves from accounts gave the Public sector above inflation pay rise, the council pension liability also increased. some say to an amount unaffordable. the Govt has £5 trillion worth of pension liabilities, £1.2 trillion for public service pensions - and £3.84 trillion state pension. The UK economy is £2.6Trillion per year.

9 Labour run councils went bankrupt under their stewardship. For most council Tax will go up by 5% But bankrupt councils can get around this, and increase further.

Bradford Council will be allowed a 10% increase, while Newham and Windsor and Maidenhead  a 9% rise. Birmingham, Somerset and Trafford 7.5%.

 

[Duke Wellington]

1 hour ago, stevewinn said:

Rachel Reeves heading for disaster as new OBR forecast deals body blow to finance plans.

Rachel Reeves has received a major blow after the UK’s economic watchdog delivered its first verdict on the state of the country’s finances ahead of the Spring spending review.

The Office for Budget Responsibility (OBR) has found that Ms Reeves is on course for a Budget deficit thanks to her decisions, something that would break a key promise by the Chancellor.

Ms Reeves has pledged that day-to-day spending must be paid out of taxes and can’t come from borrowing.

Therefore the OBR forecast, revealed by Bloomberg, means Britain is on course for either higher taxes or spending cuts - something that could prompt a major rebellion by Labour MPs.

https://www.express.co.uk/news/politics/2013232/rachel-reeves-obr-forecast-leak

I and others said it was going to be a disaster, and its proving to be true.

Last week the Bank of England cut their 2025 growth forecast from 1.5% to just 0.75%, warning that business, consumer confidence and Jobs are on the slide.

Remember the economy Labour inherited.

The UK had grown at a 2.2% annual rate in the first half of 2024, and inflation was at 2%. How has Rachel managed to get growth down to near zero and inflation heading for 3.7% according to the Bank of England? How did she get longer term interest rates higher than Liz Truss, which Rachel called ‘crashing” the economy?

Good old Labour took growth and destroyed it.

Taxed Employers for each and every Employee they employ. It's costing my employer over £2,500 extra a year just for me. cant see me getting much of a pay rise this year. If at all.

Taxed small businesses, Allowed Council Tax to increase. Taxed Farmers, took the winter fuel allowance off the pensioners, While giving away £ Billions of our money abroad. The list goes on and on.

I will update my prediction to Reeves gone in a month, and Starmer gone within 6 months.

Reeves will be thrown under the bus in the classic Machiavellian move of sack the Chancellor while blaming her for everything, by Starmer. She takes the blame, he emerges unscathed (if he gets away with it). But then his real problems begin.

He has a large majority most of whom are commie, or so far socialist we can just call them commie. Then there are the unions who are kingmaker within the Labour Party. And the public sector still demanding more wage rises. If he tells all of them no, he will be gone shortly after, and will be replaced with a compliant commie. If he tells them yes, he makes it to the next election, and then Reform win.

I already have my membership! I think finally its going to happen, I think Labour and Tories are going to get a mauling.

[Setton]

6 minutes ago, Duke Wellington said:

I will update my prediction to Reeves gone in a month, and Starmer gone within 6 months.

You've made this prediction so many times. What makes you think you've got it right this time?

[pellinore]

1 hour ago, ouija ouija said:

Cornwall Council announced today that they will be increasing taxes AND cutting spending!

1 hour ago, stevewinn said:

Bradford Council will be allowed a 10% increase, while Newham and Windsor and Maidenhead  a 9% rise. Birmingham, Somerset and Trafford 7.5%.

Cornwall (and Bradford) voted to deprive themselves of several million pounds a year which they got from the EU: Cornwall faces crisis over post-Brexit grants says councillor - BBC News

I've got no time for the idiots.

[Duke Wellington]

1 hour ago, Setton said:

You've made this prediction so many times. What makes you think you've got it right this time?

If you cannot tell its been coming from a while, you are choosing to not use your eyes.