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Darling Had To Hide £7Billion From Brown

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Which presumably is why Darling is now demanding an apology from the Tories, believing that this £7bn is about to show up on the balance sheet.

Looks like he's been rumbled. If he had to hide it from his own boss, how could Cameron have known it was there?

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Why bother hiding it from Brown, what's £7billion between next door neighbours ,should have told him about it let him blow it and then printed some more.

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Is this how british politics can be? Dangerous madmen in charge and no one challenges them until they're gone?

Didn't another country have a similar problem some years ago?

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Which presumably is why Darling is now demanding an apology from the Tories, believing that this £7bn is about to show up on the balance sheet.

Looks like he's been rumbled. If he had to hide it from his own boss, how could Cameron have known it was there?

Only £7 Billion?!!! That's ONLY 2 weeks and 2 days of borrowing required to cover the over spending left by Labour. Darling will be proud. He would not be making all this bleating about it unless he knew something he shouldn't know. He is too sure. He had massaged the borrowing up once already, so he could say it was less than thought before the election - ie it was not £167Billion overspend, but only £156 Billion and therefore falling......due to keeping on spending of course. Now he's coming again with more piffle. Consumer spending is about to wane if Argos and homebase 'surprise' fall in sales is anything to go by. I know others are more rosy, but suspect that will not last.

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<br />Is this how british politics can be? Dangerous madmen in charge and no one challenges them until they're gone?<br />Didn't another country have a similar problem some years ago?<br />

We have vocally spoken up/Whistleblown about labour Govt Ministers for years on HPC!

It's just starting to feed thru in the press eg todays Randall rant/blog about Myners/Cooper/Balls etc who are said to be in the process of reinventing themselves/rewriting their previous 'form'

Gordon Browns Henchmen rewriting history as we sink into the red

Randall Telegraph

http://www.telegraph.co.uk/finance/comment/jeffrandall/7819327/Gordon-Browns-henchmen-are-rewriting-history-as-we-sink-into-the-red.html

Faced with the horror of exclusion from office for at least five years, former ministers – Ed Balls, Lord Myners and others – are rewriting their part in the policies that helped wreck the United Kingdom's social cohesion and financial solidity. Not since Shaggy's chart-topping song It Wasn't Me have we been treated to such a ridiculous attempt at self-exculpation.

Having cloaked themselves in the theatrical robes of Keynesianism, Mr Brown's little helpers must endure the humiliation of being stripped naked by events. As any serious student of Keynes will tell you, the great man believed that governments could help smooth the peaks and troughs of cyclical capitalism. He did not advocate management by profligacy or the indulgence of budget deficits at the peak of a boom.

That Mr Brown chose to do this (his average budget deficit from 2003-2007 was £32 billion) began the stockpiling of massive debts. Made strikingly worse by the downturn, Britain's borrowings are £770 billion and on course to hit £1.4 trillion by 2014-15. At that point, our annual interest bill will be £70 billion, about twice what we currently commit to defence.

For those of us who flagged up the debilitating consequences of unbridled immigration and debt accumulation, the sound of Mr Balls and Lord Myners admitting Labour's mistakes (while shifting blame to others), produces a barely resistible urge to seek justice via the ducking stool. Any feeling of vindication is swamped by anger and disgust.

In communities that have been destabilised by the arrival of large numbers of non-English-speaking people, many with alien cultures, a change of government will not improve their circumstances. The deleterious impact on over-stretched social services, housing and jobs cannot easily be reversed. Mr Balls's Damascene conversion merely adds insult to injury.

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Great. So the deficit is 152Bn instead of 160Bn?

We're saved!

How does 160 - 7 = 152?

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Is this how british politics can be? Dangerous madmen in charge and no one challenges them until they're gone?

Didn't another country have a similar problem some years ago?

America?

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Guest sillybear2

How does 160 - 7 = 152?

Chancellor: "What's 160 - 7"?

HM Treasury number cruncher: "What do you want it to be?"

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Chancellor: "What's 160 - 7"?

HM Treasury number cruncher: "What do you want it to be?"

lol

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For some time under the Labour Government it was said there was a Tory mole in the Treasury. I wonder... Is Darling's hiding of £7bn extra revenues and the Conservatives electioneering on £6bn they would 'cut' actually the same money?

Had Darling known the £160bn estimate for the deficit was high could Dave and George have found out too? Then they could campaign on reducing the deficit this year by £6bn knowing it would happen anyway due to revenue being a smidge higher than previously expected. The plan perhaps being a lot of arm waving and zero sum changes (ie not actual cuts) whilst fairly confident that the slightly higher revenues would make this year's deficit shrink a bit.

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For some time under the Labour Government it was said there was a Tory mole in the Treasury. I wonder... Is Darling's hiding of £7bn extra revenues and the Conservatives electioneering on £6bn they would 'cut' actually the same money?

Had Darling known the £160bn estimate for the deficit was high could Dave and George have found out too? Then they could campaign on reducing the deficit this year by £6bn knowing it would happen anyway due to revenue being a smidge higher than previously expected. The plan perhaps being a lot of arm waving and zero sum changes (ie not actual cuts) whilst fairly confident that the slightly higher revenues would make this year's deficit shrink a bit.

Whatever the deficit is, it is too high. Spending more than the nation take in tax receipts is a sign of failure. Darling had an ounce of decency to reduce the awful position by £7Billion. Brown had none. He want to win whatever the long term cost to the nation.

We need to cut the deficit and cut it hard. Bring in proper accounting and reduce taxes and regulations to allow the wealth creating private sector to grow for our future.

Of course it will be messy for the public sector, but rather the public sector feel the pain than the whole country in a hyperinflationary collapse. Tough medicine needs to be taken.

Party politics is irrelevant. The nation needs a revolution in the way our economy is run.

Edited by ringledman

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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