Monday, Sep 24, 2007
What a shambles - this is supposed to be our golden era of growth too, imagine what a downturn would bring.
BBC: Public finances in UK deteriorate
Both key measures of the UK's public finances were further in deficit than expected in August, latest Office for National Statistics (ONS) figures show.
The public sector net cash requirement was in deficit by £5bn, compared with £3.7bn in August 2006.
And the government's prefered measure, of public sector net borrowing, was £9.1bn, from £6.7bn a year earlier.
Posted by tyrellcorporation @ 01:35 PM (777 views) Add Comment
9 Comments
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1. dohousescrashinthewoods said...
Since we had a decade-long boom, naturally the last chancellor took the opportunity to store away reserves for the lean years no? Surelywe have healthy reserves to weather a downturn? No? How come? Was he irresponsible? That's not what he says.
2. sovietuk said...
Note the source of the article - is this preparing the ground for restraining public sector pay awards and the inevitable re-run of the winter of discontent. The economy is looking wobbly, inflation is (in reality) spiralling, something is gonna give and it ain't gonna be pretty.
3. harold said...
Drip. drip. drip... here comes the bad news after months of boom. boom. boom.
4. mrmickey said...
As the real economy is gradually strangled by inflation expect the welfare state to implode. No prosperous London banking sector = no economy = no welfare state.
5. tyrellcorporation said...
'The figures showed a sharp drop in corporation tax receipts, which almost halved to £704m from £1.28bn in August 2006, and a modest fall in VAT receipts.'
Holy crap!!! I'd be interested in hearing the spin for these figures.
6. the bald man said...
The wheels are coming off the miracle economy. Crash Gordan need us to keep borrowing to keep him and in power and fund his empire
7. tyrellcorporation said...
This will prompt him to go to the country this week! He's not stupid (well not that stupid) and will realise the wallpaper is slipping fast. One crumb of solace from all this is that the next 5 years will be Labour's last power for decades.
8. enuii said...
The thought of an election makes me feel sick, has anyone also noticed that the media are in the main using old photo's of brown rather than more recent ones showing his wrinkled pallid lizard like mush. The photo's on the BBC are especially youthful in comparison to reality.
9. tyrellcorporation said...
Enuii, Expect a lot more photo doctoring from the BBC design departments in the coming weeks. They'll be at fever pitch now to twist reality to their ends.