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

A Bold Plan to Reform Welfare | Ruth Porter
Clinton’s Busty Mistress Nicknamed ‘Energizer’ | Mail
Photo Analysis of Miliband’s Obama Visit | Buzzfeed
Dave Shouldn’t Have Moved Gove | Michael Howard
Bercow’s Nightmare | Alex Wickham
Miliband Abandons Britain to Meet Obama | Sun
Tequila-Quaffing Chat Show Plonker Clegg | Quentin Letts
Pragmatists v Romantics | Rachel Sylvester
I’m Sorry | Colin Brazier
Blair Was a Gradualist Prime Minister | Janan Ganesh
Why Blair Will Worry Ed | Steve Richards


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Owen Paterson lifts the lid on the Green Blob:

“I received more death threats in a few months at Defra than I ever did as secretary of state for Northern Ireland.”



Flight Watch says:

Russia Today is a cauldron of bullsh*t. The only people that take it seriously are deluded conspiracy theorists. Other RT journos have resigned citing the same reasons.

It’s about as believable as Press TV, KCNA of North Korea or the Daily Mirror.


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