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Mega

Gordon Wakes Up & Smells The Coffee

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I wonder if we see:-

A .Run on the £?

B. IMF Loans?

Mike

Won't this shore up our pound? The markets have been reassured we will be having a change of leadership so spending will be reigned in, and old Gordo now saying the same thing?

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"But No 10 denied that the UK net public debt as a percentage of GDP was uniquely high, pointing to IMF figures showing net public sector debt as a proportion of debt left Britain the second least indebted country in the G20."

that must of course be the truth, the whole truth and nothing but the truth.

excluding unfunded pensions, and off balance sheet debt, like PFI.

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any more tax rises will have an increasingly damaging effect on the economy , slowing investment and cutting spending further.they may in fact have an overall negative effect on total tax take.

cutting the public sector is necessary but more business closures need to be taken into account since the private sector so heavily relies on public sector employment for income streams.

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"But No 10 denied that the UK net public debt as a percentage of GDP was uniquely high, pointing to IMF figures showing net public sector debt as a proportion of debt left Britain the second least indebted country in the G20."

that must of course be the truth, the whole truth and nothing but the truth.

excluding unfunded pensions, and off balance sheet debt, like PFI.

Lt. Valeris: "A lie?"

Captain Spock: "An omission"

from Star Trek VI: The Undiscovered Country

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But No 10 denied that the UK net public debt as a percentage of GDP was uniquely high, pointing to IMF figures showing net public sector debt as a proportion of debt left Britain the second least indebted country in the G20.

So let me get this straight. The govt is saying that because the UK has even more massive total borrowing than other countries, the fact that govt borrowing is smaller as a proportion of that total than other countries somehow makes it "the second least indebted country in the G20"?????

Words fail me. Can they really expect people to believe such nonsense?

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So let me get this straight. The govt is saying that because the UK has even more massive total borrowing than other countries, the fact that govt borrowing is smaller as a proportion of that total than other countries somehow makes it "the second least indebted country in the G20"?????

Words fail me. Can they really expect people to believe such nonsense?

That Republican guy clearly equated debt to wealth, so why not?

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