Uk Government Borrowing Grows By Half A Billion Pounds A Day
Discussion
http://angloaustria.blogspot.com/2010/04/uk-govern...
In the last week we have had the three main political parties in this country demonising each other over a difference in spending plans of about £6 billion pounds. This is less than 1% of the UK government's current annual spending.
If you added or subtracted one percent of spending from any man or woman's personal spending budget over a year, they would hardly notice the difference.
And yet, between Britain's politicians, it is the flaming brimstone line between heaven and hell, between noblest good and purest evil, and between the furthest dire extremes of socialism and conservatism.
What a joke.
When the money runs out and the UK government has to make spending cuts of around £200 billion pounds, to bring its budget within its taxation take, we will see what real 'public austerity spending cuts' look like. (Bring it on.)
The biggest joke, of course, is that over the four weeks of the general election campaign, so far fought mainly over this £6 billion pounds, the UK government will have borrowed a further £15 billion pounds of debt.
Oh well, so long as it keeps the proles amused.
For much more on this grotesque UK government borrow-and-spend programme, read the superb Christopher Booker.
http://www.telegraph.co.uk/comment/columnists/chri...
Britain's truly momentous challenges will not even appear in the election campaign, says Christopher Booker
Four huge shadows hang over this claustrophobic election, about which the three main parties will be trying to say as little as possible. The first, obviously, as part of the catastrophic legacy of 13 years of Labour misrule, is the barely imaginable scale of the deficit in public spending.
This is now growing so fast that it is difficult to find ways of bringing home how stupendous it has become. The Taxpayers' Alliance has tried to do it by pointing out that public debt is rising by £447,575,342 – virtually half a billion pounds – every day. With the Government's own projections showing that within four years the National Debt will have doubled to £1.4 trillion, I recently used figures from the Institute for Fiscal Studies to show that by 2014, in only four years' time, it will be costing us the equivalent of £60 a week for every household in the land just to pay the interest on the debt - let alone paying off the debt itself.
In the last week we have had the three main political parties in this country demonising each other over a difference in spending plans of about £6 billion pounds. This is less than 1% of the UK government's current annual spending.
If you added or subtracted one percent of spending from any man or woman's personal spending budget over a year, they would hardly notice the difference.
And yet, between Britain's politicians, it is the flaming brimstone line between heaven and hell, between noblest good and purest evil, and between the furthest dire extremes of socialism and conservatism.
What a joke.
When the money runs out and the UK government has to make spending cuts of around £200 billion pounds, to bring its budget within its taxation take, we will see what real 'public austerity spending cuts' look like. (Bring it on.)
The biggest joke, of course, is that over the four weeks of the general election campaign, so far fought mainly over this £6 billion pounds, the UK government will have borrowed a further £15 billion pounds of debt.
Oh well, so long as it keeps the proles amused.
For much more on this grotesque UK government borrow-and-spend programme, read the superb Christopher Booker.
http://www.telegraph.co.uk/comment/columnists/chri...
Britain's truly momentous challenges will not even appear in the election campaign, says Christopher Booker
Four huge shadows hang over this claustrophobic election, about which the three main parties will be trying to say as little as possible. The first, obviously, as part of the catastrophic legacy of 13 years of Labour misrule, is the barely imaginable scale of the deficit in public spending.
This is now growing so fast that it is difficult to find ways of bringing home how stupendous it has become. The Taxpayers' Alliance has tried to do it by pointing out that public debt is rising by £447,575,342 – virtually half a billion pounds – every day. With the Government's own projections showing that within four years the National Debt will have doubled to £1.4 trillion, I recently used figures from the Institute for Fiscal Studies to show that by 2014, in only four years' time, it will be costing us the equivalent of £60 a week for every household in the land just to pay the interest on the debt - let alone paying off the debt itself.
"More than 10p in every pound of tax Britons pay will within four years go straight on the Government's ballooning debt interest bill, according to figures underlying the Budget calculations, it has emerged."
http://www.telegraph.co.uk/finance/financetopics/b...
http://www.telegraph.co.uk/finance/financetopics/b...
Fittster said:
rypt said:
Good job my plan is to be out of the UK within 3-5 years tops, with luck could even be within the next 18 months (though would end up Europe somewhere)
And which low debt/surplus, small government country are you heading for?Edited by rypt on Sunday 11th April 23:51
Canada has half the UK population, but just over a 1/3rd of the debt.
The best thing that could happen is a collapse of fiat currency forcing everyone to square one and to re-think a proper system
Edited by rypt on Monday 12th April 00:02
Edited by rypt on Monday 12th April 00:02
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