You get tory and I wIll be austerIty ahead and that Is what they argue and the OpposItIon PartIes here would say a lot of the problems are of the snps own makIng and they are In charge of thIs budget and they have decIded to make generous Pay Settlements to PublIc Sector workers, Pay Settlements at the ScottIsh FIscal CommIssIon would say were not planned for In perhaps the way they should have been. But the result of all thIs, where the blame lIes, that Is up where the blame lIes, that Is up for Argument And Everyone takes a dIfferent posItIon on that but the fact Is there Is a Black Hole and cuts on the Way And Shona RobInson Wall take topIcal questIons emInently behInd me and that Is slIghtly overrunnIng but we expect her to stand up emInently to gIve about a 15 MInute Statement on where she wants to move the money and where she sees the necessIty for cuts and what thIngs can be delayed and what money can be dIverted, but we are expectIng thIs to be a substantIal statement detaIlIng
The budget revision came after Prime Minister Shehbaz Sharif met IMF Managing Director Kristalina Georgieva on the sidelines of a global financing summit in Paris last week, followed by a marathon three-days of virtual talks between the two sides.
The discussions will focus on whether any expenditure rationalisation is required to offset the additional costs arising from the extension of the free food scheme, as well as the impact of rising global energy prices.
it is tough to quantify confidence. i m curious your thoughts watching this process play out on what the effect is to our economy because we re watching it as consumers. you re right. consumers are watching it. you know who else is watching this jenna? investors around the world that invest in our treasury bills. as you said we have 15 trillion of them outstanding. this doesn t send a very confident message to the rest of the world that we can t get our act together. both republicans and democrats are at fault. the president unfortunately has been absent without leadership. he hasn t been involved in the negotiations even though he created the super-committee in the first place. i don t think anyone comes out of this looking very good. the democrats, the big problem right now, jenna, as i talk to my republican sources on city, all the democrats want to talk about is raising taxes. they haven t really gotten very serious how do we make the expenditure cuts which voters voted for last
the actual numbers employed by those calculating the deficits are based on a level of economic activity, which we are not achieving. is a solves in other words, if we re going to be aggressive about deficit reduction, there are questions about how aggressive we are going to be, even if we are, does does that get growth back or is government in a position where it should be doing more and can t because of the politics? first of all, there s a general view that we are somehow going to solve the problem without paying. there is no conceivable scenario in which that is true. cutting back on government spending will cause some contraction in economic activity, but according to imf who has done a considerable number of evaluations of related issues, they conclude that increases in taxes do curtail economic activity. so do expenditure cuts, but significantly less. there s an issue, alex, too, that you now have republican