Stephanie Flanders
speaker
68 appearances
4 recordings
1 series
first heard May 2012
last heard Dec 2013
Stephanie Flanders’s voice in public audio — every appearance, attributed to the second.
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Appearances
It's gone from 10.4% of GDP in 2009 to 8% of GDP this year.
So that's a fall of about two percentage points of national income of GDP compared to close to five.
But, interestingly, if you look at a different measure of the deficit, which we might think was a better guide to whether the government was really trying hard to cut its borrowing, if you look at the structural deficit, which is an estimate of what the deficit would look like once the economy's recovered, so you're getting away from all the sort of short-term impact of a recession where you have higher unemployment benefits and your tax revenues have gone down, and just say, what's the long-term hole in the budget?
that you've got to fill.
Well, there, the situation is reversed.
And what that might tell you, maybe not something that Baroness Varsity wants to know, is that the British have made more of an effort to cut their borrowing than America has.
America's not got very far at all, but America overall has been able to borrow less because it's been growing faster.
Until then, goodbye.
Showing 61–68 of 68 · page 4 of 4
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