November 20th, 2008

Unfunded Government Spending Up £1.4 billion in October

Public sector net debt (on the Treasury’s definition) rose to £640.9 billion, or 42.9% of GDP. This does not include other liabilities such as off-balance sheet public sector pension liabilities.

Unfunded government spending is getting worse as the economy nose-dives. it would have been much worse if wasn’t for the receipts from oil companies.

With oil back down to $50 a barrel that won’t be the case in the future…



Seen Elsewhere

Mysterious Case of Ruffley’s Missing Letter | Speccie
All the Single Ladies (And Lords) | Bloomberg
How Ruffley’s Resignation Became Inevitable | ConservativeHome
We Need a Recall Bill Now | Speccie
Left-Wing Anti-Semitism is Nothing New | Dan Hannan
Coe Pulls Out of BBC Trust Race | Mail
It’s Not How You Look, Ed. It’s How You Think | Hugo Rifkind
Mehdi Hasan’s Israel Spin Debunked | Breitbart
Labour’s Muddled Cam Attacks | Janan Ganesh
Ed’s Policies are a Pile of Fudge | Damian McBride
What Ruffley Standing Down Tells Us About Gove | James Forsyth


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Damian McBride writes in the epilogue to his memoir…

“At the time of writing, nine months from the election, I’ve concluded that Labour currently has no positive messages to communicate to anyone about why they should vote for the party, no policies which will persuade them, and is being run in a totally dysfunctional way.”



Christie Malry @fcablog

Ed Miliband does photo oops, not photo ops


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