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

How Avoidable Scandals Destroy Stupid Politicians | Alex Wickham
UKIP Mosque Confusion | The Week
Let’s Ban the Word Internet | Padraig Reidy
Are the Broadcasters Ready For the Election? | Specccie
Moral Bankruptcy of the BBC | David Keighley
UKIP’s ‘Starsky and Hutch’ | Total Politics
Innocent Sun Journo Just Doing Her Job | Sun
Boris Sent Up North | Times
The Only Way to Mend the EU | Leo McKinstry
Northern Labour Tearing Party Apart | David Aaronovitch
Osborne is Son of Brown | Peter Oborne


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Tony Blair threatens Ed:

“If you had a strong political lead that was combining the politics of aspiration with the politics of compassion, I still think that’s where you could get a substantial majority…  If I ever do an interview on [the state of the Labour Party], it will have to be at length…”



Left on Left says:

The lefties are attacking because the panellist is a millionaire and lives in a London home worth upwards of two million. Someone had best tell them he’s called Ed Miliband.


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