The Labour party loves the word “invest” (preferably “in the future”)/ It actually means building up debts for the next government to deal with and the next generation or two to pay off with reduced services and increased taxes!
But he can say this because he does not believe that it is anything more than hot air and he will not have to deal with it. He wants to take us down with him.
Christina
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REUTERS 21.9.09
Borrowing now is best way to recovery - Darling
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LONDON (Reuters) - Borrowing to support the economy now is the best way to ensure recovery and create wealth to pay down government debt, Chancellor Alistair Darling will say in a speech on Wednesday.
"Withdrawing the support we've provided to the economy would put the recovery at risk and abandon people facing unemployment," Darling will say at Reuters Newsmaker event in London, according to extracts from his speech given to Reuters.
"Borrowing to support people now and to invest in the future may feel counter-intuitive ... But in the longer run it will mean the bills we face as a country are lower, and that we are better placed to pay them off."
The government borrowing is forecast to reach more than 12 percent of gross domestic product this year as a result of the recession and extensive support measures by the authorities to shore up the banking system and economy.
Darling's speech will lay out the approach the Labour government will take in its forthcoming pre-budget report, aides said. Labour must call a general election by next June and is trailing in opinion polls.
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