Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By A K Haart blog
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

Bogus public spending projections

Sunday, November 8, 2026 9:57

% of readers think this story is Fact. Add your two cents.

Mike Denham has a very interesting TPA piece on bogus public spending projections.

It’s taxpayers who foot the bill for bogus public spending projections

According to the OBR’s Budget forecast, public spending as a percentage of GDP will fall from 45.6 per cent this year to 44.7 per cent in 2031-32. For taxpayers that would be a small step in the right direction. But hardly anyone – probably including the OBR itself – actually believes the forecast. Because around half of future spending is almost certainly understated.

The spending ratio (Total Managed Expenditure – TME – as a percentage of GDP) has grown enormously during this decade. Even if the OBR’s forecast decline materialises, by 2031-32 it will still be 5.5 percentage points of GDP higher than in 2019-20, equivalent to £175 billion in today’s terms.

And we taxpayers should never forget that the funding burden falls almost entirely on our shoulders. For sure, part of it is debt financed, but that debt has to be serviced, and the OBR says the debt interest bill has mushroomed to £124 billion this year, rising to £160 billion – a heart-stopping £5,500 per household – in 2031-32.

The whole piece is well worth reading for what Denham says on public spending projections, but also as a reminder of wider issues around bogus government projections.

For example, as public spending projections certainly are bogus, then why would anyone believe climate projections, Net Zero projections, HS2 projections?

To state the obvious, bogus public spending projections help nobody but politicians looking to kick that increasingly battered can a little further down the road. Much is made of satisfying the fiscal rules, but IMF praise notwithstanding, our rules are weak, and devaluing them further by understating the outlook for spending is asking for trouble. Which is why our government borrowing costs are already the highest in the G7.

As the TPA has long argued, spending is unsustainably high and needs to be reduced. But pretending that future spending will somehow be lower than current commitments and policies imply is the road to ruin. We desperately need policymakers who will deal with reality, not fantasy.

Source: https://akhaart.blogspot.com/2026/11/bogus-public-spending-projections.html

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

LION'S MANE PRODUCT

Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.

Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Comments

Visits:	1,837,887,464
Stories:	8,734,289