Additional info… Flashcards
1
Q
What has Sir Keir Starmer said?
A
Those with the broadest shoulders should bear the heaviest burden.
That this budget will be painful?
2
Q
When did the Liz Truss debacle happen?
A
October 2022
3
Q
What are the problems that are facing the UK?
A
- Low growth due to low productivity growth.
4
Q
What is productivity growth?
A
the amount of good or services the UK produces in a year or per hour.
5
Q
What is the amount of good or services the UK produces in a year or per hour called?
A
Productivity growth
6
Q
What would be a good outcome of this budget?
A
- growth and upping productivity
- bring do the debt and balance the books.
7
Q
What has happened as a result of all the spending during covid?
A
The government debt relative to GDP is very high - at approximately 100%.
8
Q
What are the numbers being thrown around?
A
£22BN blackhole and £40BN to raise.
