Government Overspending £258 Million Per Day
The Public Sector Borrowing Requirement for July came in at £8.016 billion. That means the government was over-spending by more than £258 million per day last month, which is living beyond our collective means by more than £10 million an hour, 24 hours a day, seven days a week.
Gordon Brown and Ed Balls reckon the government should spend even more. John Redwood blogs “No wonder the Governor thinks we ought to print some more money – who is going to lend us all this?” The Zimbabwean dollar rose 15% against the British pound last month…
UPDATE : The FT reports that this morning “saw another lacklustre gilt sale from the UK Debt Management Office.” Surprised?
Sooner or later that’ll add up to real money
what’s the answer then less money on hospitals, schools, police, the army?
I thought the purpose of a one off stimulas package was to do what it says on the tin ie stimulate
So when it fails to stimulate, the whole edifice withers. Look around, buddy.
The big lie is that it’s a ‘one off’ stimulus package. Absent 30bn quid stimulus packages every single year since 2001 then we have been in recession since 2001.
These are not ‘stimulus packages. They are simply borrowing to meet costs we simply cannot cover from taxation.
The other big lie is that the borrowed money was going on one-off costs to build new schools’n'hospitals. But that too is a lie. The schools and hospitals are being built using insanely expensive PFI contracts. The borrowing was simply to pay the one million bedwetters and box-tickers hired to massage the unemployment figures in marginal Labour constituencies.
The past 12 years have been one moster heist perpetrated by a band of economic fuckwits. The sort of idiots who, in the general population, run up monster credit card bills and then declare bankrupcy.
73; You’re very observant. It’s all abart supply and emand thats why gold was the currency of choice befo the bankers started creaming off. We need to destroy the bankers and then print our own vouchers backed by gold or moon rock, whatever.
Printing money from thin air wasn’t and never could be a stimulus.
It would be OK to print money to repay the depositors of failed banks (leaving bondholders and shareholders with SFA),
however this “stimulus” is in reality the state bailing out the bondholders and thus the deposit holders (and bonus hungry bankers).
That might sound OK to you, but it’s definitely not capitalism!
Labour or Tory you’re Taxes are going up after the next Election
Anyone ringfencing spending in any department is still going to have pay for the debt from somewhere as well as paying for New Trident, Aircraft Carriers, Eurofighters and the bloody carnage in Afghanistan which one general says we will stil be there in 40 years.
though at leat Cameron isn’t paying for the ID card monstrosity
But you’re Taxes are still going up. So get ready for it.
we seem to have found some common ground anti social citizen.
let’s not make a habit of it, eh?
Yes, let’s not.
We have more in common that you think, so here’s a “Fuck off”, just for old times sake.
You two are getting as bad as New Girl and Engineer
Don’t be wet LM.
Gordon organised QE to pay for the shortfall in tax receipts.
Gordon is effectively, through gilts, lending the money to himself to pay the debt interest that he keeps accruing at a faster rate.
Look about three or four posts back for a more detailed explanation of why this may not be a really good idea, you wind up merchant you.
If you do the wrong thing then you always get the wrong result. War is a very expensive business. War on Crime War on Drugs War in Iraq War in Afghanistan. Mind you I don’t understand that as the only success in Afghanistan has been the Heroin Trade. Its like going back in time to the East India trading CO. The economy is in tatters too many none producers and government spending all our lolly on none commercial activity meaning no return on Capital, alright if your a socialist state but not so clever in a market driven economy. Just show you that the country is run by a bunch of Knackers.
Less / NO money for girls who have children & not married, their spunk supplies should pay! No benefits for immigrants, No I.V.F. treatment other than pay for yourself, No cosmetic surgery on N.H.S. (Tits, lipo, gastricbands)
That for a start, then I look at the rest,
Certainly LESS MONEY for the Police, most of the problems we have could be sorted out by the use of a bit of 2″ X “2. and not by wasting mony for the plod to sort out, (they wont do it)
But we need our BMW, Lexus and Benz
company carspatrol cars and updated IT systems and backroom ops. and awayday training conferences and diversity awareness. Fucking hell, we haven’t got time for law and order, ‘cept tax raising through speed cameras, nicking people and funding the parasite legal ‘professionals’ infesting the country when in past we’d just sort it out on the ground. We’re an industry, like the Law Mafia and the Health Mafia and the Politics Mafia. We ain’t got time for grafting industry, making things and selling them for an honest return. How old-fashioned and backward.79. We can’t have the poolice catching criminals because the locksmiths, security, alarm, & cctv companies will go out of business. Not to mention unemployed police and lawyers, police sation support staff, police car and helicopter manufactureres, etc. It would be a disaster to be honest and crime free.
LM, it ain’t stimulating, is it? Tax receipts are falling through the floor. Companies can’t make money, the self-employed can’t make money. Therefore, they pay no corporation and income tax. And as for this being the worst since 1996. Sorry, not comparable. Corporation tax was paid in October back then. So it’s much, much, much worse.
All this borrowing is doing is covering over the cracks. It doesn’t bring more business in, it doesn’t give the plebs any more money to go and spend, it doesn’t do anything for companies. It’s just Polyfilla.
The more debt, the more chance of hospitals , schools, police and army being dismembered.
Remember, and remember it well. DEBT IS NOT WEALTH.
Well said Rip.
The UK has a Debt Management Office? I scarcely know where to begin…
I’ve also said this before but I think it bears(hehe) repeating.
“Increases in Debt should be removed from economic growth figures”.
Oh woe to us who dwell in debt
thrice woe to those who preach it yet
“what’s the answer then less money on hospitals, schools, police, the army?”
They’ve created more than a million new public sector jobs since 1997, the vast majority of which are unneccessary, but help guarantee more votes. A good place to start would be getting rid of the shocking waste that goes on in the public sector.
Oh but they won’t do that, as they have an election to fight next year don’t they.
every Party has a war on wasteful spending and promises to have a bonfire of the Quangos or cut the civil service down to size or topslice a layer of bureaucrats or blah blah blah blah blah every year or so regular as clockwork
It’s all bullshit
I know someone that ACTUALLY works in the public sector. If you want to cut the public sector, you can start with management. The person I know says that for every five people “at the bottom” like my friend, there is a manager, in a group of 40 at the bottom doing REAL work, you can work that’s a lot of managers who do NO work – they EACH earn twice what the plebs at the bottom earn, and of course they have a VERY generous pension compared to the plebs at the bottom.
I suspect it’s built in to the modern world. I worked in an independent school, which you would imagine was free from socialist overmanning; no, alas, there were layers of management who never got near the classroom, but who helped themselves to the most generous salaries. It’s everywhere!!
Its only stimulated a deluge of riches toward the rich and the influential, lots of people are got rich and many more will get richer.
Money makes the world go round, if you have money and influence over the political classes then in this world you get what you want.
Did anyone really swallow the line that handing out hundreds of billions to the banks so they could then lend more to an already over borrowed populace to buy overpriced homes and shoddy crappy foreign imports would somehow make everthing better?
It doesnt take a fucking genius to work out that lending out cheap money to all and sundry is actually the problem and doing more of the same aint gonna make it better its gonna make it worse!
Loony McBust boldly stated that the UK was not only best placed to weather the economic storm but also the UK would somehow recover faster than anyone else, has anyone actually asked him to back up those words since?
“what’s the answer then less money on hospitals, schools, police, the army?”
If you are in debt, even decreasing spending on stuff like that, as long as spending remains above 0, is still increasing debt.
Debt cannot be sustained without someone else who is prepared to lend you the money.
When no-one is prepared to lend you money, then you become bankrupt. Then your assets are seized and are sold off at way below their nominal value.
Surely this shit is obvious?
It is not a “stimulus package”, it is a massive debt burden for future generations, designed in the vain hope of getting Prime Mentalist Brown re-elected.
£2,800 per second.
You could have a lot of two-shags for that.
First!
Bog! Not First!
I mock you Sir!
as do I.
First Amongst Equals, perchance?
and today the pound dropped to 6.4 against the matabelee gumbo bean
I’ll buy Matabelee gumbo beans at 6.4.
The really good thing about the Matabelee Gumbo Bean, is that if you roast and grind them, they can make a perfectly reasonable cup of coffee.
Unfortunately a twenty will soon be cheaper then a piece of bog paper, and not as good for the job in hand.
Please be reminded.
Gordon Brown is not a fool, or incompetent. He knows exactly what he has done, and is doing. Which is why he is EVIL beyond most ordinary peoples imagination.
Totally agree. GB is prepared to push hundreds of thousands into poverty, and as many more into severe austerity to protect himself and his failed ideology. What surprises me is that the population has not yet risen in defiance. This is a nation that rose against the poll tax – but cannot be bothered to protest against a PM that is intentionally sending their lives down the toilet.
Brown is a despot and getting sicker by the day. His government is without doubt the most incompetent and venal in history. And 24% of us still think the sun shines out of his arse. Un-*uckin-believable.
I disagree, I think Brown is a fool and not actually evil. I think he is a bully and a coward too, but not actually evil.
And when everybody is in hock up to their eyeballs, they have do do what they are told or they get deeper into deep brown sticky stuff. It is all part of the socialist control mentality.
didnt gordon say we were best placed for the downturn ?
He’s say a lot of things – all of them usually a load of bollocks !!
Well we have certainly had a downturn, that can NOT be denied.
best placed to fall flat on our arses….
In the same sentence as he talked about having saved the world, yes.
Election can’t come soon enough now
where is the cυnt?
He’s on holiday on Obama beach.
Gordon abolished boom and bust.
Well, it seems he’s abolished the boom at least.
“The Zimbabwean dollar rose 15% against the British pound last month…”
And I only get 0.5% a year at the post office, should I be investing in Zimbabwe?
[...] This post was Twitted by guidofawkes [...]
not the bust i was hoping for
Boom boom
We’re on the slippery slope lads, we haven’t got a hope
Cos Gordon Brown’s our leader
and he’s a total dope!!
No longer we need to soak it up,
hang him from a rope
“Dope on a rope” then
http://www.independent.co.uk/news/uk/politics/brown-to-stay-chancellor-after-being-hailed-as-best-in-100-years-527289.html
If you fancy a good laugh read this from 2005
Do they mention he’s a bummer?
Oh, how the mighty are going to fall…..
There are only two things that Gordon Brown could do that will please me:
1. Call an immediate General Election
2. Sit inside a tar covered burning barrel and fire himself from a trebuchet at the Taliban
The man is a moron. An expensive moron that we can’t afford.
my wish would be for him to strip off, then cut off his own legs with a machete, then roll around in a pile of salt, and then throw himself off a cliff onto a massive pile of rusty razor blades (also covered in salt).
not on your christmas card list then ?
Down With The Nanny State
(The views of a grumpy old man)I am now of the opinion, that the nanny state thinks we are foolsI have seen our society changing, I am staggered by some of the rulesNo longer do we have the freedom to take risks after weighing the oddsWhen having considered the chances, put our fate in the lap of the godsBanned are the daredevil heroes of which our great nation was proudAdventure, thrill, exhilaration are simply no longer allowedToday it’s all stresses and traumas caused by the slightest mishapNot by bombs, poverty or starvation but by insignificant crapWe must not get upset or worried or ever receive reprimandOur lives must be like Mary Poppins or we will be mentally harmedYet before councillors were invented and you were confronted with strifeYou didn’t start whinging and whining you simply got on with your lifeNow it seems kids can’t play conkers, at school unless wearing specsAnd firemen’s poles are a hazard, I wonder what they’ll think of nextAll workers now have to have footwear that has steel built into the toesPlus high visibility jackets worn over their normal work clothesWhat with PC and human rights rubbish and constant advice on our foodWe should tell all do-gooders to “Stuff it” up somewhere decidedly rudeHow do they think we all managed before all this twaddle arrivedThrough wars, poverty, depravation a hell of a lot still survivedNobody made a commotion if a schoolteacher gave you the caneIt was considered unmanly if you couldn’t cope with the painVillains broke rocks up on Dartmoor and murderers paid with their livesFisticuffs settled a dispute for only a coward used knivesHooligans given a birching, till their backsides were blooded and soreIt’s hard to look tough when you’re crying so very few went back for moreSo don’t patronise me with this drivel, my generations not denseWe have learned how to roll with life’s punches by just using sound common senseIf we could just gaze in a crystal and the next fifty years we could glimpseThen I for one feel pretty certain we will then have a nation of wimpsNone of us need to be coddled, we don’t need it all on a plateLet’s stand up to all these busybodies and jettison the nanny stateThe result of this do-gooder nonsense is not very hard to detectBy the loss of respect for each other and virtually no self respectGone are the days of the nit-nurse, and gone is the headmasters caneIs society better off for it? well, perhaps we should all think again
Maybe we could hammer long nails into a barrel, fill it with salt, stick Gordo inside and roll it down from the peak of Everest.
Or am I being too kind?
Not if you cram Tony Bliar and George W. Braindamage inside with him
And if you have to break a few of their bones in the process then we’ll consider that unfortunate but inevitable collateral damage
Our armed forces now have trebuchets? How can anyone say we are under-equipped now eh.
I see it costs us 500 million a year just to keep those self serving pigs at Westminster in the luxury they have become accustomed to.
but for us poor people about £60 a week each is all we need MPs say. Apart from our money, what else have these shits got that we haven’t?
They have never had it so good (assorted troughers and hangers on) but how long can it last?. What are the real figures? this Government does not do Reality.
Just over 2 days of borrowing.
Peanuts.
What an extremely small pay packet!
but WHAT ARE THE REAL FIGURES ?
Exactly ! labour crooks have done it again , no attempt even to give reason or remedy , they are just dithering there way and funding votes .
That for me is the corruption , that every man woman and child in the UK is now loaded with debts wether they voted labour or not , its cynical politics of the worst kind. Labour are ecnomically incarcerating people up and down the land for there own financial mis mangement and ecnomic policies .
Investment is drying up , youth unemployement is looking like a becoming endemic in the next decade .
they just want to sound as though they didnt know what they were doing and it was all a surprise ,when so much of the problems were deliberate to bring about the socialist constuct .
As the horror stories of personal bankruptacy and pensions that arnt worth a dime start happening , will labour really have delivered anything in the last 12 years other than a national nightmare .
I have got bad news for you.
Yes of course they have delivered plenty in the last 12 years, and absolutely none of it good for ANY ordinary people.
This country is going to burn when the Conservative Party get back in. The eighties revisited, but this time much much worse. The Trades Unions will suddenly show that they never really went away, especially within the public services.
This is not new. It has happened before, and each time in a more nasty manner. Resulting in ever more violence, authoritarianism, destruction and poverty.
There really is not anything we can do about it. This is simple the SYSTEM in action. It is robbery of the first degree, on a truely massive scale. A Great Train Robbery every 10 seconds. Very possible resulting in just as many deaths of purly innocent people.
Only please do not expect the ordinary British Tax Payer to do anything other then pointlessly complain. Watt Tyler had a go, and look what the bastards did to him.
Trades Unions especially the people who lead them, work for the system, every bit as much as ALL of our leading politicians do.
We have NO VOICE whatsoever. Absolutely NOTHING to protect our common interests. Whats more, and worse, the people who run THE SYSTEM know full well we do not.
So, enjoy your nighmare the lot of you. Only please don’t say you were not warned, because you were warned, and payed as good as no proper attention whatsoever.
I have been saying that we would be exactly where we are now, all over the internet, for 4 or more years. No IFS and NO MAYBES. I have spelt it out in as common a language as I can muster. Yet still you thickoes just will not get it.
I think you’re part of the SYSTEM too.
Perhaps we ALL are.
Or maybe NOT.
Who CAN tell?
Perhaps the only THING we can do is to stop talking BOLLOX.
Real figures? Noone knows. That’s why they print money and keep their fingers crossed. One of these days it might work. Or not…..
No wonder the governor of the BoE wants to increase QE. Soon our (literally) banks will be the only buyers!
Rampant inflation and high interest rates beckon!
It used to be called stagflation in the 70s, the last time we had a labour government.
£8 billion deficit for the month doesn’t sound so bad, because that is only £100 billion per year which is a lot less than the budget, the trouble is ..
July is normally a month for enormous net receipts because that is one of months when corporation tax receipts are at their highest.
Last year their was a surplus of £5 billion in July and this is the first July with a deficit since 1996, when there was a different corporation tax payment regime and calendar year end companies paid all their corporation tax in one go on 1 October.
What it means is that we are in for some rampant inflation before long to catch up with this lot.
Anyone remember PM Callaghan and his muppet cabinet? 40 % inflation in the seventies before the Blessed Margaret Thatcher came to power and brought the country back from the abyss. I just fear that Dave is not made of the same steel.
DC is more Indian Tin than Thatcher Steel – thats why real Conservatives won’t & don’t vote for him.
Centre ground hoon.
Who will they vote for then? Half a loaf and all that.
UKIP
VOTE INDEPENDENT
vote for candidates independent of all the political parties.
democratic evolution innit.
it is certainly the only way to reclaim our democracy.
Phil, I agree with most of your comments but not this one! Mrs. Thatcher caused the most terrible social strife. She privatised utilities, council houses, destroyed (overly) union laws (using Scotland’s oil to bolster her position), brought in the poll tax, started a war to improve her election chances, bullied her ministers,wrecked heavy industry,………I could go on! Tony Blair continued where she left off, and learned many a trick from her. I detest him too. Leaders who want to inflict their own peccadilloes on their people should be removed forthwith, viz the gorgon.
In fairness to Thatcher, she didn’t wreck heavy industry; much of industry, especially the nationalised ones, was dead on it’s feet and being propped up at huge public expense. In 1979, about 45% of government expenditure was subsidy to nationalised industry. Our international competitors were wiping the floor with us on price, quality and delivery time. All Thatcher did was tidy up the wreckage. Those parts of industry that were doing reasonably well survived, and we are still up with the world’s best in some areas.
Excellent comment. So rare to read the truth about ‘Thatcher’s industrial destruction’. Much of industry was already nationalised by 1976 (because it couldn’t stand on its own two feet) and, as you say, the money spent propping it up was a scandal.
Thatcher had the job of untangling the chaos of the ‘post-war industrial settlement’.
Ironically, New Labour’s social democratic spending and Zimbawean delivery has left an even bigger mess. At least with industry you could break it up, sell it off or close it and get pretty much immediate results.
Paying down the debt and getting the public sector off the teat is another job altogether….
She brought in a lot of inward investment which created real jobs, Nissan Honda etc the same companies that are in trouble under a Labour government.
Tough woman for tough times. Sorted out the mess though. Anyone really capable of doing it today ‘cos it’s going to be ten times worse this time. All these EU migrants moving around looking for jobs and rubbish legislation all brought in to undermine the country.
The utilities have never been more efficient than since privatisation,the workforce are paid now to improve the networks not live there in semi-retirement.They make profits which are taxed!And the union shirkers havent gone away they just moved to the health & safety department
She
privatised utilities (and they made themselves better)
, council houses(good Labour used them for gerrymandering)
, destroyed (overly) union laws (another good for everyone in the country)
, used Scotland’s oil to bolster her position, 1 it’s not scottish it’s British, 2 that’s what you should do with oil revenue
, brought in the poll tax, making everyone pay for the services they use is a good start.
, started a war to improve her election chances I think you’ll find it was the argentinians you loon
, bullied her ministers compared to Gordo?
,wrecked heavy industry Many self wrecked themselves on the taxpayer teat
So 0 out of 10.
Thatcher SAVED this country from the disaster, I didn’t agree with everything she did ( I think the government should have given every citizen shares in the privatised companies instead of keeping the money), but she was on the right track.
We NOW need someone who will cut the size of the state as a percentage of GDP, thatcher only managed to hold the forces of extortion.
Hey fuckface, it IS Scotland’s oil: and we WILL get control of it, even if that means insurrection.
Enough already of you english parasites.
The union can fuck off…
Fucking delicious!
OK what about the British Gas that comes ashore in Norfolk, shouldn’t we rename that English Gas?
naughty naughty FD.
if you could’ve you would’ve.
and anyway you have had any oil money due paid to you in the form of ongoing benefits and subsidies.
if the scots had have got their shit together economy wise instead of scrounging from England then you might have been able to formulate a reasonable argument.
but you have not so you can’t.
You’d be surprised how modest the oil income was over 30 years. Remember the tax was on barrel prices not on the expensive refined fuel.
I think the running total was £125bn, but somebody may have a definitive figure.
I roughly worked out that the bailout of the two exploding Scottish banks, hoovered up much of that ‘Scottish’ oil tax take.
So, even it was Scotland’s money, they’ve just blown most of it on bailing out their precious banks.
Thatcher was a horrible woman, she brought in a Canadian Scot to break up the coal industry, did terrible damage to the railways, to British telecom, – all the British Utilities, and the British people have been shafted ever since.All the rich bits were handed to her friends.
The Falklands war was started because that tory bitch wanted to start a war to get votes. She could have sent the troops up front first, that would have stopped the Argentinians invading. The Belgrano sinking remains a mystery?
I could go on…….. she was an embittered corner shop keeper’s daughter. Envious of the Queen, and always careful to watch her diction (which she arduously trained) she was not a loving mother, and her husband was a bit suspect. She caused untold mayhem and unhappiness in British society.
We are left now with her inheritaince. A malfunctioning transport system, a very poor education system, the rich get richer, and the poor get poorer! etc etc. New labour are truly her descendants.
Mrs. Thatcher had sex appeal to those who like to be bossed about by a woman who was more like a man. She also, like tony, and the gorgon sucked up to the Americans, and flirted with Reagan and countless other toadies. Enough said?
tat you forgot bailing out the SCOTTISH banking system. That took all the oil tax revenues on its own, before we even start adding up all the excess benefits, education, etc.
BFC I quite like your posts and commonly agree but on Thatcher you are away with the fairies if you think she started the war. Check the history books.
As for Belgrano as I keep saying there is no mystery and the reasons for the sinking were completly logical. What was illogical was the fact they took so long to fucking do it. As a consequence by giving them chance after chance the fleet was heavily at risk. They chose not to leave horizontally so they were assisted to do vertically.
tough shit! no sympathy and Mr Galitierri was held responsible for the action by none other than his own people.
Maggie was the best and no PM since then has come anywhere near her.
Over one million jobs in manufacturing have been lost by Liebore since 1997. However much Thatcher supposedly “wrecked” industry, ZaNu have been a lot worse.
The 1980 recession was the result of the mess that Liebore made of the UK economy in the 1970s. Moreover Thatcher did not cause “the most terrible social strife”; that was only the wishful thinking of a few socialist extremists and class warriors.
The majority of the country, under Thatcher’s guidance, got on with turning Britain from the basket case of Europe to the envy of the world. How do you know? – because so many governments copied her policies, that’s why.
The socialists have never forgiven Thatcher for helping to bring down the evil USSR, that is why they still harbour such extreme vitriol towards her.
If that’s a reply to my comments on Mrs.T above, I would like to say that I’m not a socialist, just a believer in everybody getting a slice of the toast. Our whole system is now f…….d by two parties who couldn’t run a piss up in a brewery! I’ve run my own business successfully for more than 20 years, and I’ve watched the country literally go to pot. MPs are simply not qualified to tell people how to run their lives just because we put their name on a bit of paper. Our leaders during the past c 30 years have been appalling. Perhaps the huge number of brilliant young men who were killed in the first world war is still affecting the calibre of our leaders now? They are not only rubbish leaders, they are not good people. David Cameron is a better personality, but has he the strength to keep the hyenas in his party at bay.
barefootcontessa – I accept the points you have made at 184; it was neatly put.
“Thatcher wrecked industry” is just so student union 1980s.
Anyone who ever bought a car from british leyland will tell you that british industry was destroyed by militant unions and incompetent management. Nothing to do with any political party.
When your company is producing a shit product at an expensive price, no political party is going to save you.
Why the fuck does this still need repeating?
Thatcher rant – yawn.
Next you will be telling me Thatcher is responsible for not maintaining the roads for the last 20 years and hence the major cause of potholes.
Postle
At least she didn’t have civil servants saying all we need is the City and we can turn the rest of the country over to tourism.
Call Me Dave is another NEW MAN NONCE. He is too feminised to be a real man and take the decisive action that is needed. He will not curb immigration nor will he clamp down on the benefit scroungers.He is Blue Labour not a true Conservative or even a patriot.
I think Guido is being unusually optimistic here. That 8bn quid figure is for the month of July – apparently one of the four months in a ‘normal’ year where income exceeds expenditure. The fact that our ‘best’ months now show defecits of 8bn quid gives you a clue to how utterly cluster-fucked the economy is under the print and squander idiocy of this fuck-up of a government.
Right now Labour wishes, in its wildest dreams, that the deficit this year will represent a mere overspend of 250 million quid a day.
That factoid about the Zimbabwe dollar is damning though.
£175 billion divided by 365 days is just under £500,000,000 per day or £20 million per hour. That’s about £8 per person per day.
One should add to that the relentless accrual of public-sector unfunded pensions and borrowing via the PFI scam.
It’ll be materially higher than 175bn too. Probably more like 225bn.
So where’s my 56 quid a week?, that’s the trouble with these pyramid/ponzi selling schemes, unless you got in near the top (around 1997) all the wonga has gone (been distributed between the family and friends in the banking fraternity). Why has the BBC’s flagship consumer protection programme Watchdog not addressed this issue?, you don’t need to reply to a Nigerian e-mail asking you to send more money to get shafted…… if you live in the U.K.
Your 56 squid, streamfisher, is gone, departed, mislaid, no more, pissed up the wall and dissipated. It has ceased to be. Bereft of life etc etc. In the immortal words of Sir Edmund Blackadder, HMG has “found it, nicked it, spent it.”
Nicky Campbell’s a wanker who aspires to be a cυnt who lives for the dream of sucking a banker’s cock.
Asking the BBC to investigate the biggest heist in history, trillions of pounds extorted from taxpayers to the criminal scum bankers, would be like asking Harold Shipman to investigate the disproportionate death rate at Staffordshire NHS hospital.
It wasn’t really the bankers who got the money, they were a conduit for bond holders.
I didn’t get a bean old boy and I’m down to my last couple of yachts here. It’s disgraceful how they try and slur honest and upright examples of moral fortitude like myself and all the other Bankers
The British public is definitely behind me.
Though my team of round the clock bodyguards seem to think that was with rusty chains and meat cleavers at the ready for some strange reason.
Not to worry, onwards an upwards, Bonuses are Back!
And I fully intend to have a jolly knees up with the Bolly flowing freely to celebrate as soon as the plastic surgeon is finished.
Fred’s beck festivalling in Edinburgh.
I’ll keep it nice and simple, the labour party, and more importantly this current collection of scoundrels, scumbags and thieves are nothing more than a shower of Huhnes!
but it’s not a secret is it?
Breaking news……….Pope’s Catholic…..
shit i thought he was german
Not only that but a bear was reported to be defecating in an arboreal setting
Well………
Oh no, I should get back to work. Someone has to keep this country running
Pies.
Macaroni pies are nice. With brown sauce.
I thought you said you were anorexic, John?
Grroooo googoo hik
For gods sake grow up!
It’s a frightening assertion that this government – who actively encouraged the masses to over-stretch and are now themselves overstretching the country financially – cannot contain themselves within such opulence. That they are overspending by such staggering amounts is catastrophic mismanagement… perhaps a better description of this government.
We have nothing to fear, but fear itself.
We will count your lamp posts, install more CCTV, give more equality to everyone but straight, caucasian, working, males.
The Army is abroad, so there is nothing they can do! And we have starved them of the proper equipment, so they are really, really distracted right now.
Oh and Scotland can have free everything! Because I say so!
straight, caucasian, working, males – bastards
oh, hang on a minute – bugger
We can smell your fear from here.
Good news for straight, caucasian, unemployed, males then?
I thought we could stop counting the lamp posts when we got to 650. But who has the piano wire
is mrs thatcher free at the moment ?
Yes, she may be over eighty and in her dotage but still a towering intellectual heavy weight when compared to the sad shower of shite we have at the moment.
if she stood i would vote for her
Can she even stand up these days?
She was awful! But the blair/gorgon duo are worse!
No but I am
Hope a stray missile gets you, you useless fucking parasite
“The Zimbabwean dollar rose 15% against the British pound last month…”
Dat mean more NHS tourism for me……..so up yours Mrs bummer Brown you speck of nuffing…..
£258 million spondoolicks a day and we can’t even buy the odd Chinook or two out of the petty cash tin?
The fuckwits have 8 stuck in a hangar but nobody knows how to plug them in.
I heard that they hadn’t actually checked if they had necessary agreements for the required to use the advanced avionics fitted in the Chinooks from McDonellDouglas
I may be living up to my name but can’t someone fly a helicopter without all this stuff? They are being used as taxis to move troops around to fight people who arrive on Honda 50′s armed with rifles, grenades and a copy of the Koran, not to intercept nuclear submarines or infiltrate sophisticated enemy airspace replete with SAMS [that's next month].
Spot on Titbrain.
and they don’t have to be Chinooks either.
You can blame Geoff Hoon for that one. All the gear – and no idea.
Fuck Cameron
What we so obviously need is Robert Mugabe running the country.
He doesnt put up with crime, hates backs and is obviously more economicaly literate than McMental.
He has also got a VC and a string of PHDs. Princess Ann should never have turned him down, in my opinion.
They eat horses don’t they?
Yes, but she’d be safe. For all his faults he’s not a cannibal
The economy won’t actually collapse. We will just have a period of post-Brown austerity, like the one after the Second World War. The comparison is apt because WWII also brought very high levels of tax and Government control and left the country virtually bankrupt.
The Atlee government had to beg a loan from the USA because they bankrupted the country, Callaghan/Healey had to bring in the IMF. Who will save us this time?
Funny how we always go bust when its a labour government.
Maybe our steadfast friends in the EU will realise it is their duty to keep us afloat!
Otherwise we can only hope the present Government will pray for our souls, our souls, our souls!
I hate politicians, I hate politicians, I hate politicians!……..If I say it enough do you think they’ll go away?
“He doesnt put up with crime,”
He just robs everybody, a real democrat.
A bit like McMental then
A lot like him I’d say, except for sexual orientation obviously.
We’ve never had it so good, but it’s all over now!
I’ve seen (several times each, in various sources) two different figures for total UK National Debt – £1.4trillion and £2trillion. Don’t know if these figures include allowance for public sector pensions or off-balance-sheet PFI borrowings.
Anybody got a more accurate handle on this than me?
Mr E – don’t know the answer. What I do know is that whichever number it is – we’re fucked.
Best I could find is http://www.economicshelp.org/blog/uk-economy/uk-national-debt/
At the end of June 2009, UK public sector net debt was £798.8 billion (or 56.6%% of National GDP) – Source: Office National Statistics
Excluding Financial sector intervention, public sector debt is £657.5 billion or (46.6% per cent of GDP)
The Centre for Policy Studies (at end of 2008) argues that the real national debt is actually £1,340 billion, which is 103.5 per cent of GDP. This figure includes all the public sector pension liabilities such as pensions, and Private Finance Initiative contracts e.t.c (Northern Rock liabilities).
Well I notice nobody ever addresses the facts, figures anywhere in the msm (too terrifying to contemplate?) I’ll just put that down longhand £1,340 billion =
£1,340,000,000,000, the debt that dare not speak its name.
Why can’t we print a £1,340 billion pound note?
Good idea Alistair but then what always happens, the temptation to just print another one and another one, but then again we could promote this an an exercise in saving the Rainforest, have to get Hillary up to speed on this one.
It’s not the debt, but the debt servicing.
Probably 2000 pounds per UK worker per YEAR of slavery.
Yes.
Think of a number between 1 + 2
x by a trillion.
Add 2 trillion
That’s it.
An A level maths question by any chance?
What’s a mere £.6 of a trillion between friends – there’s plenty more where that came from, i.e. the taxpayer. 2 years ago I’d didn’t even know what a trillion was. When you’re past the first flush of youth, it’s so difficult to even keep track of millions and billions, never mind trillions.
“”The Zimbabwean dollar rose 15% against the British pound last month…”"
The list of achievements for New Labour just go on & on, don’t they children?
How those cowardly fucknuts in the Cabal of Crooks loosely acting as a Cabinet can live with themselves for not shooting McMental is beyond me.
They KNOW the damage this flawed unmandated Prime Mentalist is doing to our country & yet they say & do nothing.
Cowards.
They don’t care. All they want to do is hang onto their jobs for as long as possible. Then when they lose the election, and Cameron has to sort out the mess they leave behind by raising taxes, cutting expenditure etc etc, they will all sit there and say it is all the Tories fault, nothing to do with Labour, and if only they had still been in power none of that would have happened.#
It’s so predictable
Cameron, today, according to the BBC: “we have pledged real-terms (sic) increases in NHS spending – unlike Labour”.
Inputs into a Stalinist system never turn into outputs.
Hug the NHS week!, Cameron gave the game away with his infamous “I am the Heir to Blair” pronouncement, what exactly did he mean by that?, Gordon was the Heir to Blair in the best traditions of the right to succession, just like going back to the 16th century minus the protection of Habeas Corpus.
next thing you know they will have us all in workcamps
Have you had a good look around recently?
Arbeit macht frei !
You’ve not seen the latest Labour proposals to hide the unemployment figures then, the term workcamp will not be used however or the term social adjustment and rehabilitation centre.
they all talk balls and shit , they aint fit to run a tuck shop
Mmmmmm……
Zimbabwe got itself out of the cycle by paying everyone in foreign currency. South African Rand anyone?
The Zimbabwe economic model gets my vote
“Wheelbarrows ‘R’ Us”
I always thought that was a porn site to be honest.
This is a much better site than mine – Brown is a sponsor
http://www.mucktruckscotland.com
If Labour think they’re going to get back in again at the next election, they’re making a rod for their own backs. If they know they won’t get in, and I suspect that’s the case, they’re going to leave the accounts in a fearful state for whoever does.
They should all be sacked for that alone.
BTW Guido – Ed Balls doesn’t have an apostrophe in his surname.
they should hung from the lamposts
Why stick at lamposts?
Should be hung from their goolies!!
Yes,but on a 20 meter bungee rope on 20.5 meter drop (it would have to be metric for poetic justice)
People due to collect pensions in the coming years should be worried. State Pensions/public sector pensions are unfunded and if Gordon and his cronies keep spending our money like it’s going out of fashion, there won’t be enough in the pot.
Mine’s due in about 13 years – if there’s any money left by then.
The pensions are funded – a proportion of the pay bill is set aside, however was that money used to pay for something else?
If a private pension fund was used to pay for something else, and the money lost, then ALL involved would be in court for misappropriation.
Government could never admit to the fact that the pension fund HAS been misappropriated on its watch, so stand by for changes to the “conditions of service” for public service workers to cloud the issue.
Message from Cap’n McDarling – (today in Glasgow boosting Tesco’s profits). ” Man the life boats! The ” Good Ship Lollypop ” going down. Rubber rings for all those who can swim, and that includes you Gorgon!”
So Gordons heard that Tesco is taking on 800 staff in Glasgow and has hot footed it to bask in a photo-op, well that’s financial services they are expanding into and what better person could you have than wizard Brown to piss on the parade.
Has his holiday ended then?
He couldn’t be bothered to meet troops at the new recuperation centre that opened a whole 17 miles from where he was staying.
I think the the key words are photo-op, not post-op.
what a sick cowardly cnut this slug of ‘man is
Oh dear and I thought some strange force pulled them to a crime scene they are connected to.
Close and sell off Scottish Parliament, Welsh Assembly. Close regional Government Offices and associated agencies. Sack all civil servants involved. Remove state funding from all charities especially think tanks. Forbid EU support to BBC and reduce it to PSB status/news reporter. Cull 50% of NHS managers, 50% of MOD civil servants. No state benefits without 5 years of tax paying. Reform LEAs, police authorities.
Enough money saved to be getting on with and not one Tory amongst them anyway. Day 1 agenda, I’d say….
We certainly need a first one hundred days post labour plan, this starter for ten would be an interesting. Bring on the glorious day we can see the back of these B*******. Looks like they may take us all down before then!
Those few sentances make more fiscal sensethan the thousands of pages of liblabcon bullshit baffles brains election promises and might actually be enough to pull us out of the onrushing economic train wreck, your proposals allied to a sensible tax scheme that attracts the wealth creators are the most sensible I have yet seen anywhere.
A real Tory party would have this kind of policy portfolio ready and waiting to go from day one, sadly though they seem quite content to ringfence PC sacred cows like foreign aid and bloated overspends on nonjob parasites and they seem quite relaxed continuing to hand over vast amounts of money to the eurotrash overlords.
The liblabcon circus of freaks,crooks and cretins is coming to a polling booth near you soon, please dont buy a ticket as it only encourages them!
Anyone for euro’s……………
Easier to think of it as £3000 per second
Seems like Tesco are fucked
McMental has turned up to wish them all the Jonah best
Tescoland…..sell sell sell!
Just wait until September/October when everyone goes back to work.
Last year’s ‘little blip’ will look like a sneeze. The markets are pump primed with monopoly money backed by trashets. The Fed & Bank of England are accumulating a terrifying amount of debt in a comedy merry – go – round that will end come this autumn (if we’re lucky early 2010).
This would be ok as the useless governments on both sides of the Atlantic deserve to fall and should be discredited as ignorant, self serving mentally ill patients.
However, because they knew this was coming (maybe they even planned it; well not all of them, but some of them), they have contingencies in place. Our moronic ‘public services’ staff will follow the statist line as they a) have no brain b) can’t get a job anywhere else and will quite happily deport us to gulags in poland/latvia/kosovo or some other shithole to be liquidated.
There isn’t really a way out. We have given our liberties away during a joke period “the end of history” when compliant and idiotic social scientists, politicians, pressure groups, public etc. were busy imagining that we had reached the ‘promised land’.
Whatever they do to cow the majority of the population (‘terror’ attacks, economic disaster, anything else that the BBC et al. can spend a few weeks stoking fear and panic over) we can’t do much about it.
This country is full of brain dead morons who wouldn’t know fascism if a jackboot landed on their face.
Its a shame as its all totally pointless: but the ‘national security state’ is good for business and lets those who have looted everything in epic proportions enjoy it, and better still, rub it in our faces.
The only hope is that a critical mass say ‘enough!’ but that’s not going to happen when the state employs more than the private sector (including those who don’t work; those being employed to be quiet) and the police, officials in yellow jackets, judges, teachers etc are quite happy to do whatever they’re told for some reason that nobody can quite understand.
Gets you depressed sometimes.
Good comment, very good comment. mmmmmmmmm.
Every socialist government bar none spends all available funds on a year by year basis assuming the world is living to “the plan”.No allowance is made for the slightest hiccup when their spending commitments come home to roost and are revealed as unaffordable.Instead of rowing back saying they got it wrong they borrow from the world bank which is stuffed to the tits with corporatists,communists,socialists,freemasons and lunatics all fellow travellers.
Britains problem is the best chancellor in 100 years (Independent 2005) spent enough for a generation and wont admit it.
Can I help in anyway?
I was after all elected by my people, unlike that raving loon Gordon McMental.
I am the true King of Scotland
You lying bugger Idi.
I am the King of Scotland.
All of you were/are marxist,socialist control freak bastards
You can take my alchohol and anti-semitism but you’ll never take my freedom. Also, i am the king of scotland.
BOB
Should we have that jug eared malodouros Hoon and his cabinet of nancy boys slotted as a favour to the British public?
The perpetrator of forgery gets real value. Only when the money has been in circulation for a while does inflation set in. They say that with slack in the economy in the form of two million unemployed inflation is not an issue.
Bollocks. Zimbabwe has slack in its economy but that has not stopped inflation.
We will end up in twelve months or so with uncontrollable inflation; the Conservatives blaming the Labour party and the Labour party insisting that if Cameron knew what he was doing we wouldn’t be in such a mess.
So, what do we do? Get a better printer and get started, I guess
Ideal reading for Autumn: ‘Newton and the Counterfeiter’ by Thomas Levenson
Against the backdrop of the Great Plague and Fire of London, counterfeiters are clipping silver coin and shipping wealth overseas.
Isaac Newton, fresh from writing Principia Mathematica, introduces fiat currency and saves the nation’s wealth.
Where’s another Newton when we have want of him?.
We already have a fiat currency though don’t we? Isn’t that part of the problem?
yes – it wont start on cold mornings
Fiat currency is so 1695, honey. What we need is a new dose of financial imagineering, to make up for the conceptual acrobatics of the Quants and suchlike latterday sorcerers.
Get on message Guido its £258 million “Investment” every day in Public Services, in Schools, and Hospitals helping “hard working families” up and down the country. As opposed the “do nothing Tories”. Under Labour A level results are at a record high ( everyones a winner) soon everyone will have a degree and universities will be full. Under Labour #welovethenhs. We will not pass by on the other side, you know…. when I was growing up my Father used to say to me………..blah blah blah
Well last night we were in A&E for a dog bite (somone else’s dog not our own). We waited 3/4 of an hour for triage, and then another hour and a half… at which point my husband’s hand was hurting so much that he walked out of the place and we went home for some more painkillers and ice. I pleaded with the desk for some antibiotics for him, but she couldn’t have cared less, “he’s off the system, now” she said having a hard time suppressing a smirk.
They weren’t busy, there were 10 other people in the waiting area including ourselves so only 5 non-urgent patients and at no time were there any emergency ambulance arrivals. We kept being pestered to move by a Chinese who was pushing a broom around at a snail’s pace ‘cleaning’.
The fat triage nurse made an elderly man who could barely walk stagger 15 meters into her room to take his details. She’d have worked off some of her excess weight if she’d come out to him instead. The NHS isn’t there for the benefit of patients (who pay for it — it’s NOT FREE!) that’s for sure.
Google “producer capture” it exists where there’s next to no customer choice.
I ‘heart’ the NHS
And this is what could happen over the pond:
http://www.econlib.org/library/Columns/y2009/Hummeltbills.html
Is it possible that Brown is planning to disband the army and use the shortage of cash as the justification ?
New Labour has used the History of the NAZI PARTY as a template so far .
Many elements of nazi party control have been implemented in this country since 1997
The new labour propaganda machine has not been formalised into a Ministry
yet but it has reached a level of sophistication which would be greatly admired by Joseph Goebbels– especially the big lie section . But there is something a bit perplexing about the way that Brown seems to be in permanent conflict with senior army officers .
Hitler and his gangsters set out to curry favour with a great many senior army officers almost from day 1 and was successful until the bomb plot in 1944.
Brown and his chum Mandleson know that they will need support from some
type of army if the dream of a post democratic society is to be achieved .
Is this the purpose of the job creation sheme in the public services merely a recruitment method to ensure a plentiful supply of gauleiters and SA troops
with plenty leftover to form a Gestapo ?
yeah but they’re all overweight pasty fucktards who couldnt intimidate a 2 year old.
Brown, Handlesbums and their cohorts would however fit right into the early Brownshirts. Interesting that if you combine Brown and Shirt-lifter you get Brownshirts innit
They may be overweight pasty fuctards but ever place of contact with the brown terror has little plaquards that warn the public that staff “have the right to work withhout abuse,intimidation etc…….”
Quite how abuse etc is defined is wide open to deliberate misinturpretation and many have been refused treatment for being impatient while waiting 3 to 4 hours for a childs treatment!
been there
Me too,anyone else?
And just why does a senior officer say that Britain needs to be on a war footing?
Terrible figures released today, borrowing set to be far worse than Darling predicted. Tax receipts collapsing, the government is still throwing money around as if it cost nothing, while unemployment adds to the amount being paid out in benefits. Unemployment is set to get a lot, lot worse. Keep those belts tightened for a lot longer yet, the worst is yet to come.
Mind you, the Beeb was doing its bit as cheerleader when I checked its news site this lunchtime, they were leading on an increase in retail spending instead.
Just heard ‘His Master’s Voice’ – the dreaded McGorgon! Telling us how safe we’re all going to be from terrorism now the election’s taken place. I’m SO reassured, hope everyone else feels the same?
The only election I want is one here, and right now.
It is strange that no economist ever comments on the rise of Tesco,it is expanding at a meteoric rate and posting annual profits of £2 bn.
While it is strangling all small traders by expanding even into housing estate corner shops one tiny detail should not be overlooked,all supermarkets with the honourable exception of the german twins pay a low hourly rate,this at present is augmented by tax credits.If any sane government were to withdraw these the total wage bill would then fall to Tesco themselves or face losing staff to other employment or they might find it more beneficial to join the dole depending on their entitlements to HB,CTB etc.
I am of the opinion that at least £1 bn is shovelled to Tesco et al in this way why do socialists think this is a good idea?
I also think the incoming government will stop the farmers being screwed by monopolistic supermarket bully buyers so you may see slightly leaner times for the big four!
The principle aim may be to create a super giant retailer to the masses with smaller retailers like marks’N'sparks catering to the new elite.
Socialism is all about monopolies, a single giant retailer is much easier to control in a political sense as you only have one CE/board to deal with, backroom deals and quid pro quo back scratching between executive chimp A and chisseling commissar B is done in complete privacy.
Nazi Germany encouraged monopolies as a means of state control, so its easy to see the attraction for the CP/NWO/EUSSR commissars, look forward to your tesco clubcard being used as a peoples ID card in the future, it will tell the big brother state what you eat when you buy it, how much you spend, when you spend it and it can channel the punter into approved purchases by offering extra points etc.
Our town centre shopping areas are not becoming deserted wastelands of boarded up shops by accident I feel, rather its far easier to collect corporate taxes from just a few giant retailers than thousands of small ones and its far easier to lean on an ever smaller handfull of retailers to who in turn lean on suppliers to set/rig prices.
Lets suppose that a certain chisseling crooked commissar who we shall call Mandeslime for want of a better name wants to alter the price of a commodity that a chisseling crook in big business wants changing to benefit their company, the chisseling crook pays a large sum of bribe cash to the crooked commissar and he duly leans on the CE of the giant retailer, its far easier to do with less companies involved isnt it?
We can look forward to a streamlined system of one commissar filling his pockets with payoff cash by leaning on one super giant retailer who then leans on an ever smaller group of suppliers…hey presto an ever tightening noose of marxist control of the means of production?
[...] Zimbabwean Dollar Guido Fawkes: ………The Zimbabwean dollar rose 15% against the British pound last [...]
The zimbabwean dollar wont buy much in waitrose
The bloody pound doesn’t buy much in Waitrose either!
Ex tory, dont pay rent,dont pay rates,heavy smoker ,heavy drinker,dont
gamble ,goes to church every Sunday, government overspends, carry on
the good work ,comrades, make sure you sort out the “voluntary”euthanasia
for the under 50s later and retirement at 75.. Pure class
So why is the £ strengthening against the world’s reserve currnecy?
If, like Commi Cameron says, we are likely to default on our debt then surely the pound shoud be at 1.19
Because more people are selling the reserve currency than buying it?
Apparently Nu Labour pays out more in benefits than it gets in taxes. Also, there are 6 million people on benefits.
The doctors managed to negotiate a salary of £300,000 a year with a Nu labour minister. I reckon someone on the dole should negotiate an increase in ‘jobseeks’ (sitting at home wanking) allowance with one of the polytechnic fuck-pig ministers in the Nu Labour shit pile (to £750 per day).
Fucking Huhnes.
Oh yeah! It costs more than 2.5 times as much to process a claim (signing each fortnight) for jobseekers (sitting at home wanking) allowance than is paid in jobseekers (sitting at home wanking) allowance.
The filth in jobcentres are paid a massive amount to parrot the shite put up on the jobcentre+ website by illegal immigrants.
Fucking C U N T S.
Mathematics is not our strong point.
[...] our collective means by more than £10 million an hour, 24 hours a day, seven days a week. (H/T Guido) This means that the productive parts of our economy can no longer support such a huge government, [...]
[...] our collective means by more than £10 million an hour, 24 hours a day, seven days a week. (H/T Guido) This means that the productive parts of our economy can no longer support such a huge government, [...]