Tuesday, November 18, 2008

Why you shouldn't believe Brown on the economy?... Read his lips!

Let's play a game. It's called spot the anomalies.
"borrowing for this year and future years is therefore £27 billion (2003), £24 billion (2004), £23 billion (2005), £22 billion (2006) and £22 billion (2007)." Budget 2003
"borrowing for this year will fall to £34 billions (2004) and in future years fall further to £33 billions (2005), falling again to £29 billions (2006), then falling to £28 billions (2007), £24 billions (2008) and £22 billions (2009). Budget 2004
"[it] will be £34bn (2005) this year falling to £32bn (2006) next year, then falling again to £29bn (2007), falling to £27bn (2008), then to £24bn (2009) and then £22bn (2010)." Budget 2005
"[borrowing] will be £37bn this year, £36bn next year, then £30bn, falling to £25bn, £24bn and £23bn in 2010-11" Budget 2006
"the figure for [borrowing] this and future years will be £35 billion (2007) - over 1 billion less than forecast at the Pre Budget Report - then 34 (2008), 30 (2009), 28 (2010), 26 (2011) and 24 billion (2012)" Budget 2007
See that? £10bn leap in the first to second of the predictions, and then he is out by x billion each year except for one where his incorrect prediction for the previous year doesn't even manage to cancel out his earlier mistakes.

The man is making it up as he goes along. So the next time you hear him start banging on about debt - even if you accept his figures- you know that that he's been wrong consistently year on year for the past five. Why trust him now?

8 comments:

Gareth said...

He said the word 'deflation' in Parliament on Monday. Cue murmurs from others, panicked look in Brown's eye and he rephrased it to 'almost zero inflation' or words to that effect.

The man is an economic buffoon. As are many of the reporters in the papers and on the telly. They do not challenge him. Dare not challenge him perhaps.

Cupid Stunt said...

Surely to God no-one does?

Alfred T Mahan said...

Brilliant, Dizzy - can you put the figures into a chart or at least a table? The figures stand out so much more like that.

NB - you have two figures for the 2009 forecast in the 2007 Budget paragraph. It might need correction.

curly15 said...

The time is fast approaching to polarise politics and offer the public real change.

dizzy said...

Alfred it is done :)

CityUnslicker said...

wow dizzy, competition. I shall have to up my game. great post.

Anonymous said...

one for you to comment on dizzy:

http://cassiuswrites.blogspot.com/2008/11/modest-proposal.html

Anonymous said...

on wednesday mr brown kept saying it started in america but refused to say why the pound was dropping against the dollar.given the case surely the american dollar should be the last thing that can be going up in valueblinke