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Brown’s Debt Hits Us All For £26,000

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Brown’s debt hits us all for £26,000

PM Gordon Brown is spending £4 for every £3 he takes in tax - racking up £26,000 of debt for every man, woman and child in the country, a shock study has revealed.

The UK will be spending more on interest payments than defence by 2013, according to the dossier by the right-wing think tank Policy Exchange. A family of four will be lumbered with a share of national debt worth £104,000.

Policy Exchange director Neil O'Brien said: "The Government has racked up an all-time record level of debt. We are now wasting huge sums of money just paying the interest.

"The Government must stop spending so much more than we can afford."

By 2013, interest payments on Britain's debt will cost that family of four £285 a MONTH.

Paying off the debt without savagely slashing public spending would mean DOUBLING the basic rate of tax from 20p to 40p - crippling millions of families.

Alarmingly, the figures don't even include pension commitments to state workers. Adding the two together means the family of four will owe a staggering £253,000 by 2013.

Policy Exchange experts predict spending on schools, hospitals, transport and defence will have to be slashed by 17 per cent.

The analysis shows two-thirds of Britain's economic growth since 1997 has been in state jobs. The private sector has grown just 0.5 per cent a year, while Government spending has grown eight times faster.

Souce: The Sun

Yes, it's a pants paper, but this is the kind of sheeple paper headline that can make the difference.

I just want to see Gordon humiliated at the polls next year...but on the same note, I do not want to see the Tory party in charge.

We are fvcked either way. Despair.

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I just want all this nonsense from Brown to stop get Britain back to some sort of financial sanity, I despair at what's gone on for the sake of keeping in power.

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Why are the Bankrupt of England monetizing government debt and funding this waster and failure of a PM and party?

More to the point. Why are the markets tolerating the situation? Is the only thing keeping Brown alive, the prospect of a saner Tory Government?

It was always the markets that brought Labour down with frequent runs on the pound, by the "gnomes of Zurich" as Harold Wilson described them.

Edited by HostPaul TAFKA Rover2000

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I just want all this nonsense from Brown to stop get Britain back to some sort of financial sanity, I despair at what's gone on for the sake of keeping in power.

Yes you will see that under the con's as you are taxed to death to pay for all this debt and then labour will get back in but they are both working togeather to fill their pockets and make us pay for it all.

Do you realy think the cons will stop the flow of immigrants forcing our wages down or do you think they will continue to take bribes from corporation like Tesco's that like the cheap labour.

We have the law of treason, it needs to be upheld.

Edited by Justice

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Guest KingCharles1st

So the easy targets to get this money back are-?

Council tax.

Fuel

Road tax.

Fags

Booze

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"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.â€

Mr Micawber

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Nice asymmetric qualities in the Sun's piccy of Gordon. I bet you his media team don't check for this when they hand the photos out. ;)

gb00.jpg

The third picture he looks a bit like tony blair!

In which of the three pictures is gordon totally blind?

Edited by moosetea

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More to the point. Why are the markets tolerating the situation? Is the only thing keeping Brown alive, the prospect of a saner Tory Government?

It was always the markets that brought Labour down with frequent runs on the pound, by the "gnomes of Zurich" as Harold Wilson described them.

The markets treat Treasuries (ie Government debt) as though it is real money, don't ask me why, but they do. They see no credit risk in UK Govt debt and I guess with the QE program they think it can come from the sky at any time.

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Guest UK Debt Slave
Brown’s debt hits us all for £26,000

Souce: The Sun

Yes, it's a pants paper, but this is the kind of sheeple paper headline that can make the difference.

I just want to see Gordon humiliated at the polls next year...but on the same note, I do not want to see the Tory party in charge.

We are fvcked either way. Despair.

That doesn't include our £58K share of the national debt.

Factor that in too and you can see we are double fvcked!

A huge proportion of the UK population is technically insolvent already.

Makes you wonder what would have happened if the BoE hadn't pumped £175 billion into the economy doesn't it?

But the pain wont go away. It'll come back with a vengence.

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Nice asymmetric qualities in the Sun's piccy of Gordon. I bet you his media team don't check for this when they hand the photos out. ;)

gb00.jpg

:blink: Is Gordon a cut and shut?

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So the easy targets to get this money back are-?

Council tax.

Fuel

Road tax.

Fags

Booze

Council tax - No doubt about this one.

Fuel - I'm not sure if people can take much more tax on fuel. Either way, people are buying smaller and more economical cars to offset the cost of fuel and the higher road tax on the bigger cars.

Road tax - They've already screwed up here. The tax hike on the thirstier cars was so huge that many have gone for smaller diesel cars. I've gone from £300 to £35 this year on road tax and I see many others doing the same.

Fags - Doubt it, they have already killed the golden goose on this one. More and more people are buying them in on holiday. I'm buying a years supply on my holiday in Greece and the saving will entirely pay for the holiday!

Booze - There are now 52 pubs a week closing. This will just drive even more people from the pubs and onto loss leader promotions at the supermarket. Higher booze taxes will cost the government money.

Edited by Jay76

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The markets treat Treasuries (ie Government debt) as though it is real money, don't ask me why, but they do. They see no credit risk in UK Govt debt and I guess with the QE program they think it can come from the sky at any time.

They didn't use to though. There were constant runs on the pound. What has really changed?

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Maybe King's afraid to walk in the woods?

I think the way 'The Establishment' works it is more likely to be Brown who should be afraid to go wood walking..............

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Council tax - No doubt about this one.

Fuel - I'm not sure if people can take much more tax on fuel. Either way, people are buying smaller and more economical cars to offset the cost of fuel and the higher road tax on the bigger cars.

Road tax - They've already screwed up here. The tax hike on the thirstier cars was so huge that many have gone for smaller diesel cars. I've gone from £300 to £35 this year on road tax and I see many others doing the same.

Fags - Doubt it, they have already killed the golden goose on this one. More and more people are buying them in on holiday. I'm buying a years supply on my holiday in Greece and the saving will entirely pay for the holiday!

Booze - There are now 52 pubs a week closing. This will just drive even more people from the pubs and onto loss leader promotions at the supermarket. Higher booze taxes will cost the government money.

I agree with this. I see council tax as pretty much the only way they will get the money back since the rest, as explained above, are already sliding down the other side of the laffer curve.

Edited by the.ciscokid

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I agree with this. I see council tax as pretty much the only way they will get the money back since the rest, as explained above, are already sliding down the other side of the laffer curve.

Ditto.

Easier to get at: pensions, savings, inheritance & property.

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"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.â€

Mr Micawber

Annual income £300bn, annual expenditure £500bn, result: f***ing hell!

NI and Corp Tax.

Both a mistake, but they'll do it.

TBH there is no way that I can see that any government could close the gap with taxes alone - it's just too big. What we're going to see is big tax rises (squeezing those in the middle as usual) and deep cuts in public services.

It'll probably take 2 parliaments to sort it out, just in time for the next bunch of Labour incompetents to come in and f*** it up again.

Edited by Young Goat

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