warrenm2

Oh joy! We're really f*****d now!

Government borrowing rises 70 per cent - Telegraph


Final paragraph

"Meanwhile, Gordon Brown has indicated that he is prepared to increase borrowing to fund a series of eye-catching initiatives which he hopes will help ensure his political survival."

Its enough to make a cat laugh if it wasn't so serious

TopBanana

Don't worry, they'll print enough money to make up for it... everyone's a winner

GC8

You have to wonder whether theyre propping up their failure, or more worryingly, attempting to saddle the next government with a crippling debt?

PaulC72

last one out turn off the light.

Odds on

It does kinda look that way.

s70rjw

iTrader: (2)

I just said that to the Mrs while reading the first post. Labour are in meltdown and Brown will do anything to keep his job and (some) support of his party

scoobynutta555

What's even more worrying is that borrowing was at a high level before 5 months ago. That also won't include the future disaster of PFI.

kingofturds

iTrader: (1)

25% vat rates here we come again

warrenm2

"NO MORE BOOM AND BUST!"

GC8

25% VAT rates? Have I missed something: when did his happen?

Suresh

Didn't Gov't borrowing increase to save Northern Rock? I seriously doubt if anyone here would have had a better idea to stop the run on NR and serious systemic risk at that point. Nationalising it was the right thing to do IMHO.

unclebuck

Scorched Earth Policy. Destroy everything so there's nothing for an incoming Tory Government to inherit.

Basically, the Nu Labor 'plan' is take the whole country down with them.

That'll teach those ungrateful voters a lesson.

SunnySideUp

The Tories would not have done anything different, fact.

What has happened is the only thing that could be done - much as I hate seeing the fat cats in the city bailed out by us taxpayers (yet took the massive bonuses when the market did well!!!)

But, the capitalist society which we all like being part of, and would die defending, needs to be bailed out.

Personally, I would let the markets decide what happens - but, intervention seems to be the way we are trying to deal with it.

GC8

The 'steady hand on the controls' myth is exposed as the bollocks it was now: eh Pete?

In the past economic climate a chimp could have overseen greater economic growth. Apparently all of the f*cks ups and the generally ****-poor state of everything is Darling's fault, according to Gordon 'Teflon' Brown.....

Witty comeback?

SunnySideUp

I've lived through many Governments and seen countless crisis.

This is just one of those crisis, at a time when most people want a change in Government ...... it is the death bell for the Labour Government, not because anyone could do any better - just because people want a change.

Just don't expect a Tory Government to bring us all wealth and relaxation .... it will get thrown out in a few years 'for a change' - and around we go once again.

Odds on

Erm, didn't the Tories leave the country economically sound, allowing Labour to 'live the dream' so to speak?

What's the old saying.... "You can't have a Labour government, without a Tory one to pay for it".

r32

I dont think that this is necessarily true, on this mornings money programme some 'BBC invited financial expert' said that this Country had handled the current situation very badly, in fact he said the way Labour had acted was the poorest in the developed World. Having kept absolutely nothing back in the kitty for a rainy day. We were certainly in a worse situation that any other EU member and the Governments way out of it is to borrow hugely.

Martin2005

Errrr no they didn't, they nearly destroyed the economy with catastrophic economic policies....such sort memories

f1_fan

iTrader: (9)

Don't worry they will be back soon so people can once again experience the marvels of a Tory government at first hand.

Doubt things will be much better sadly

SJ_Skyline

And unlike Jim Callaghan's government of the inept that did actually destroy the country's economy. Crisis? What Crisis?

judgejules

For example, it would be nice to have a massive pile of gold to sell now that gold prices are the highest they've ever been to put some money back into the system, oh wait, we cant because the so called "best chancellor ever" got rid of over half of it back when it worth the least in history.

lozgti

Suppose it pales into insignificance given the trillion dollars America is/has used to try and stop everything going pear shaped.

Probably over egging that.Think it is only 900 million bail out.Someone has a big wallet

Leslie

Public spending on ridiculous initiatives is part of Labour dogma and if they have to borrow or tax more, or both-that is what they will do.

Les

dynamix

iTrader: (3)

So many similarities in the economic and social climate between now and then.... makes interesting if not disturbing reading.

The tories in the 90's stayed long enough to tidy up the hiccup and leave the country with a solid foundation for the future and nest eggs in tax revenue, gold reserves and fiscal sense.

Praying for a vote of no confidence in GB so that we can move on as a country. We will take years as a country to recover from the mess that he has left/will leave us in.

Stats are not looking good at the mo.

Odds on

I seem to remembering typing that they left the country economically sound. 1 instant being plenty of gold that numpty ******** flogged for penny's.

Such a short memory you have.

I don't remember the government previous to the Tories, as I was far too young, but are you implying that they left the country fooked and drastic measures were required? (Genuine question)

Luan Pra bang

We have given the government some of the highest tax revenues ever and they have wasted it, saved none of it and are now commited to spending cash they do not have. THe PFI is a massive joke and its unbelievable that any government could get away with it. The very fact that a left wing government can get away with championing Milton Friedmanesc economic policies is a joke. I would love to know where there extra cash is going to come from whenthe country is on the verge of an economic disaster.

dynamix

iTrader: (3)

So would I. There is nothing left to smooth the way for the country.

Martin2005

The John Major government took our economy into a very deep and very long reccession. Their membership of the ERM meant an unsustable level of high interest rates ranging between 8-15%!!!
Ultimately the market decided our fate and the entire economic policy of the government collapsed, the voters never forgave them for it.
It's true to say that in the post ERM period our economy was able to recover strongly, because interest rates were halved, the pound was able to find it's 'correct' level, and the housing market recovered. Please don't let anyone kid you that this recovery was 'down to the government'. The depression was down to the government, the recovery was down to the market.

Odds on

Ah, the Tories are to blame for the amount of cash we had when the Labour's took over.

I can only assume you've done very well under the Labour Government. I hope no one on here is going to get a free £700 laptop anytime soon....

Anyone that does.....

God for bid the voting rules change to allow the great unwashed have a say at voting time by internet.....