Voteting UK View of Politics USA

Three major uk polical parties, Labour, Conservative and Liberal Democrats have different approaches to managing the UK Deficit.

In 2009 the UK posted a UK Government deficit of £159.2 billion, equivalent to over 11% of UK GDP. One might be lulled into a false sense of security thinking that this is a sustainable debt considering we are in the grips of the deepest recession since 1920’s.

However any good accountant in the UK will know, and be happy to tell you, that (by December 2009) the UK Government debt reached in excess of £950 billion, equivalent to more than 68% UK GDP. The figures don’t make such good reading, which is why accountants are good people to have around in business. They can make sense of what is really happening. UK Accountants will also tell you about impending consequences, and in this case are much more likely to do so that UK Politicians (who act as if they don’t know). perhaps Uk Accountants should play a more active part in UK politics since politics is almost always about the economy and Government spending. Is this not the case in US Politics, and the election of President Obama into the White House in 2009.

In the UK’s case, the Maastricht Treaty sets limits on deficit and debt  to 60 per cent for all EU countries, including the UK. This means that the UK is in default. Assessment is on a financial year basis and data was passed to the E.U. Commission at the end of March 2010. It is still inclear what the final consequences of the UK default will be. It will surely put the UK’s all important AAA credit rating in jeopardy. It is this error that could cloud how Gordon Brown’s time in charge as UK Prime Minister may be judged, and gives ammunition and power to the COnservatives argument of severe cuts in public spending to bring the UK Deficit into line.