May 17th, 2010

Reality Check on Cuts

As Labour begins to scream hysterically about the planned £6 billion reduction in over-spending which will be made in Osborne-Law’s Emergency Budget, it falls to Guido to remind readers again that £6 billion is less than 1% of government spending and is equal to a mere two weeks of government borrowing.  This graph (first seen here) shows the difference in Labour and Tory coalition spending plans:

It doesn’t even begin to tackle the government’s indebtedness…


124 Comments

  1. 1
    Imagine John Prescott without Bulimia says:

    And becomes even less significant when you compare it to the national DEBT, the “elephant in the room”

    Like

    • 10
      Animal says:

      Ah, but will Osborne decisively plunge the knife into Liebore and publish the real debt this country is now saddled with, or is this gointo be a yawning open goal the new Government will miss from 2 yards?

      Just as the ethics-free previous Administraion continually brought up Ashcroft in any question put to them, PMQs, interviews and official papers could run and run with continual back references to this wanton waste executed by McRuin and his henchmen. Don’t pass on the opportunity, Cameron.

      Like

      • 37
        Mitch says:

        Oh I think publishing the figures is a certainty. Why wouldn’t he?

        Like

        • 64
          amonymous says:

          The BBC and Guardian will accuse him of talking down the economy and then when there are troubles ahead it will all be his fault for pointing out the damage Labour did and nothing to do with Gorgon’s borrowing or money-printing.

          Like

          • Kasou says:

            The BBC (MR. J.’Mandys Mate’ Humphreys seems to be loving every opportunity to knock the coalition.

            I think we should get Dr. Cable to announce the truth, he is well in with Labour and truthful as far finance is concerned (?), and was a good mate of McBruin during the last months..he will surely be believed by all sides :-)

            Like

          • Here comes the chopper to chop off your head says:

            Line 1 of the Budget: The BBC licence fee is abolished with immediate effect. With effect from 1 April 2011, the BBC will be in competition with commercial providers for the right to use their broadcasting bandwidths.

            Like

        • 70
          Noise says:

          I’d like to think we’ll get some good headlines reminding us of the “average household pays XXXXX interest per year on Gordon Browns progressively-indebted chums”

          Like

      • 74

        It looks like the markets, especially the GBP/USD are already factoring in some more horror stories.

        The problem we have is that with the £/$ at about 1.44 (at time of writing), we are all going to be side-swiped by higher costs for imports – I’m thinking of oil, but not just oil, pretty much everything else as well.

        On the flip side, the low rate would be a much needed boost for our export markets. It is such a reassurance that we have such a strong manufacturing base then….

        Oh bugger…

        Like

    • 15
      MadMitch says:

      C Men

      Shroud waving for dog boilers.

      The coalition response to the Depression caused Dunkirk and very nearly lost us WW2.
      Now the coalition response to the second stage of the Credit Crunch will cost us the recovery.

      As ever in these analyses, context is forgotten and history hidden away.

      When it suits the upper middle class establishment debt is just a necessary evil, when it doesn’t then the poor will have to pay for the sins of bankers.

      Like

      • 65
        Sarge says:

        Of course it would help if my dog boiler friend ( are you Fat Bloke on Tour?)you could actually come up with a relevant context. There is absolutely no connection between the two situations beyond the word coalition. Let’s try a more recent one:

        A coalition between Labour and the Unions fucked the economy in the seventies and required the IMF to intervene. Of course it’s slightly different as no-one had the opportunity to vote for the 70s version.

        Democracy,Truth and Spending Restraint -unknown to Socilaists everywhere.

        Like

        • 93
          MadMitch says:

          Military Intelligence @ 12.41

          Your memory of the 70’s suggests that you actually believe what the Daily Mail prints.

          1976 was a great piece of Treasury shroud waving.

          Problem was generated by Grocer Heath and his trendy vicar, managerialist, authoritarian “Selsdon man” rebranding followed by a grim reality check, unemployment and the Barber boom.

          Add in the general trend of post colonial raw material inflation and the oil price spike of 73/74 and Harold Wilson got the hospital pass of all hospital passes in March 74.

          Next up you have the dog boiling tendency in the Treasury beginning to chaffe as Labour decided to keep the show on the road with borrowed money until North Sea Oil began to flow.

          Consequently what are you going to do when the new man at No.10 does not want to deviate too much from his predecessor?

          Start a panic thats what, non issue raised into a “Nationwide” headline.
          Healey was involved in this very British economic coup.

          Consequently start reading ya muppet.
          You were conned then and you are being conned now.

          Like

          • Anonymous says:

            Indeed.
            O/T – is the Falklands garrison up to strength, or are we due for a (timely) little ‘incident’?

            Like

          • Animal says:

            How about you realise that twisting historical events such as Dunkirk to suit your sneering, pathetic comments only serves to show you for the malicious, steaming little turd that you really are?

            Like

      • 87
        13eastie says:

        Mitch.
        Why don’t you take some of your own advice?

        The context of our debt is a million miles away from bailing out the banks (the loans and shares cost relatively little and will bring in a tidy profit).

        The true context is Brown’s reckless spending way in excess of revenue, and devious portrayal of waste on out-of-control overheads and operational costs in a public sector that generates no revenue or profit as “investment”.

        The outgoing chief secretary to the Treasury apparently left a note saying “there’s no money left”.

        If this were the whole truth, we would be laughing. The national credit card has been maxed out by Labour, who have spent like chavs at Chrstmas with no forethought at all.

        Brown should be brought to account for his grossly negligent abuse of the economy.

        Like

        • 97
          Anonymous says:

          Yes, but it’s a pity that the new lot have ducked the issue,
          namely restructuring financial services to retail and casino,
          then regulating the casino stuff away.
          Instead of which:
          1) New chancellor not threatening anyone – he was made to look silly by a Rothschild after all…
          2) Vince C is not in a position to take them on…

          Like

          • mr wibble says:

            Good point. Little Osbo could well bear grudges. And the Grey Cable is out in the cold. Pity.

            Like

      • 114
        Anonymous says:

        Interesting take on history, absolute bullshit but interesting. There was i naively thinking that we went to war because Germany invaded Poland, now its the Tories fault.

        Like

    • 19

      Someone needs to get the real debt and deficit figures figures out in the public domain sharpish.

      They then have to mercilessly ram the real figures down Labour’s throats day in, day out, week in, week out, month in, month out, year in, year out…..

      …….. because if they don’t do this Labour will – and they will paint the Tories and Lib Dems as the cause.

      Like

    • 24
      More or Less says:

      The true National deficit is £90,000 per household

      Listen to 29th april

      http://news.bbc.co.uk/1/hi/uk/8575001.stm

      Like

      • 60
        More or Less says:

        Deficit = Annual borrowing
        Debt = Stock of all the money that the government owes, on-balance-sheet.

        Official National Debt = on-balance-sheet
        Off-balance-sheet “debts” (obligations) : PFI + Public Sector Pensions.

        National numbers:
        776 bn – National Debt (official, “on-balance-sheet” debt)
        almost 20% more – PFI (off-balance-sheet)
        770 bn – Public Sector Pensions (off-balance-sheet)

        Per household:
        £30,000 – Official National Debt
        £5,000 – PFI
        £200 – Banks Bailout
        £30,000 – Public Sector Pensions
        £65,000 – Total Now

        £25,000 – Borrowing in the next 4 years
        £90,000 – GRAND TOTAL

        Like

        • 78
          Alexsandr says:

          This is another thing needs shouting from the rooftops.
          The bailing out the banks is only a small part of the debt

          People think if we hadn’t bailed out the banks we would be OK now

          Doh!

          Like

          • Anonymous says:

            Public Sector pensions are sure to be a target, as large as the official national debt and off balance sheet

            Like

        • 111
          Maximus says:

          £90,000 financed at LIBOR (say 5%) is £4.500 p.a. interest.

          (1) Are the Lizards going to collect this, each and every year?

          (2) Is that why Con/Lib (and neither nu liebore for that matter) are terribly bothered about bringing the deficit down in a hurry?

          There are good and bad sides to the implied economic view.

          The good one is that the Lizards don’t expect the financial position to break the British camel’s back.

          The bad one is that, absent deficit reduction, the interest payment keeps rising, and a recent BIS paper expects that even if a budget surplus of 10-15% can be run in ~20 years time, it will still entail taking an axe to pensions.

          If the Lizards have to be dealt with, isn’t it better to do it sooner than later?

          Like

  2. 2
    Liam Byrne says:

    John Redwood reckons the real bill is nearer to £4 TRILLION. That’s £65550 for each and every one of us.

    Nice one Gordon

    Like

    • 18
      AC1 says:

      Funding that debt will cost about 5 grand per year per taxpayer…

      Nice easy money for the rent-seekers.

      Like

  3. 3
    Gordon ( SoldGoldAtThe ) BottomBrown says:

    One small step for man, one giant leap for maniac Liebour spendaholics.

    Like

  4. 4
    Anonymous says:

    Sterling is saying something similar….

    Like

  5. 5
    Grumpy Old Man says:

    Dear Guido. Glad you point out that the planned cuts of both parties are in reality little more than a rounding error in the scheme of things. perhaps the electorate will begin to realise just how big a hole Labour have dug for the Nation and why Socialists should never be allowed to run the Country again.

    Like

    • 54
      Hugh Janus says:

      Unfortunately NuLiebour’s spending habits have never prevented their re-election after the dust has settled, and the Conservatives have been left to clear up the appalling mess they created. Seems to me that history is far too kind to the socialist wreckers in this country – either that or those who think that this bunch of hoons are a good idea have incredibly short memories.

      Like

      • 75
        Grumpy Old Man says:

        Good Point. The history is , of course, written by the 1st Intellectual Brigade, The Socialist Wreckers, whose greatest success so far has been writing the period 1974-79 out of the contemporary history books, and “smoothing” the disasterous curve of Labour’s mismanagement in goernment since the 1930’s.

        Like

    • 57
      British rioting competitor says:

      I have a feeling Dave is a socialist about to come out the closet.

      Like

  6. 6
    Stan Butler says:

    Mmmm, lets see. Add Labours national debt and the ‘off the book’ costs of public sector pensions and PFI together and we have the legacy of a socialist Government (again). Time for pain in the public sector I’m afraid. They have had it too good for too long. Jobs cuts, wage cuts and the ending of final salary pensions should be a start. VAT to 21%, income tax up 2p plus the usual fags and booze rises should start to make inroads. We all need to feel the pain together. We in the private sector have suffered for two years whilst the public sector has actually increased jobs and costs. Whilst I havee some sympathy with what is about to happen, it comes about due to the financial incompentance of Labour.

    Like

    • 23
      Mr Ned says:

      It is the equivalent of £96,000 per household according to the BBC (radio 4) a few weeks ago.

      My 3 bedroom house near the lake district isn’t worth that much!

      Like

    • 58
      AC1 says:

      VAT and income tax rises will hurt the private sector.

      All tax is a transfer from the public sector.

      What’s needed is massive cuts in the extortion funded sector.

      Like

    • 83
      Anonymous says:

      Stan Butler, You omitted from your list the need to remove subsidies for Parliament’s restaurants & bars.However small the saving produced it would ensure distribution of the pain in the right area.

      Like

  7. 7
    tardkiller says:

    guido, stop scaring everyone!

    Whilst i’m pleased that Dave is in and that he will tackle a lot of the NuLab crap left over, I’m MORE worried about the Untouchable sections of the government where the money really is and that needs going through like a hot knife through butter

    namely

    PFI’s
    Large pointless and stupid IT/Service contracts (already locked in)
    QUANGOES
    Vast Swathes of Civil Service incompetent managment and non-job/departments

    I think Georgie should hit the nuke button and go like a samurai through a paper contracts forest

    Like

  8. 8
    MadMitch says:

    C Men

    I fear you are up there with Trevor aka “Fraser” over at the Speccy regarding your understanding of the budget / government spending / finance.

    Simple 1% grass cutting = £1.20 reduction in pensions, 65p off the dole, £20 month off a nurse’s wages.

    Not so easy is it?
    The low hanging fruit / easy targets have already gone.

    £6bill savings — net o0r gross?
    £6bill savings — Target for 2010/11 or annual figure?
    £6bill savings — All for deficit reduction or will it be used for a few political sweeties?

    First ave the Rave.
    Then Trevor aka “Fraser” — the fastest spinner in the Nelson family even though my brother is a DJ.
    Now you.

    The £6bill efficiency savings conumdrum works its way down the dog boiling foodchain.

    Like

    • 16
      Liam Byrne says:

      ”I’m afraid to tell you there’s no money left”

      Like

      • 109
        I'll have some of that says:

        Well print some more – it’s what you usually do. How’s your coffee these days?

        Like

    • 21

      Morning Fatty..

      For the benefit of those who don’t speak fbot ..

      If you stop giving people money then they will have less than they had before.
      This is a bad ..something.. because…some people don’t have much, even though they have free healthcare etc..
      Then something about being in a cricket club pavilion entertainment show.

      I think the gist is keep printing money until the IMF comes. Then it all goes Greek and the rioting starts.

      Like

    • 73
      Sarge says:

      Listen fuckwit,your alter ego Fat Git on Tour has not explained which “low hanging fruit”. have gone and neither have you.

      Once again your ploy of trying to pass off your dumb idea of where cuts will fall as a ‘fact’,even though you have no clue what the actual plan is, has failed. Perhaps you have not noticed a few clues in the press? e.g ID card database.

      If it’s such a tough decision why did Labour fork out millions in bonuses before they departed? – vote buying to the end. This does of course mean any ‘cuts’ to the things you mention would have been contributed to the civil service bonus payments…. a future fair for all.

      Like

      • 103
        MadMitch says:

        Military Intelligence @ 12.51

        The big squeeze in on.

        AD = Moving funds around, thrifting the low hanging fruit so that other areas can be spared.

        AD Spending plans = AME reduced by 1%, in real terms, in 2010/11 over the previous year. Not great but probably realistic in the circumstances.

        Sniffy turns up with the chainsaw.
        He wants 1% of all government spending.
        £6bill efficiency savings becomes the target.
        So does that include wage reductions for nurses, teachers, policemen?

        Questions:

        1) Net or Gross figure?
        2) Annual figure or saved in 9 months left in 2010/2011?
        3) All the savings to reduce the deficit or will it be used for political sweeties?

        Answers — So far there are none.

        Consequently away and throw shite at yerself ya numpty.
        Military muppet of the highest order, upper class apologist.

        Like

    • 122
      g1lgam3sh says:

      Like

  9. 9
    Baron Lord Mandy of Oy says:

    You’re either in front of Mandelson or you’re behind.

    Like

    • 17
      Lard Prescott of Punches, Pies & Paunch. says:

      I’ll be taking vermin soon in the Upper Chamberpot !!

      Like

  10. 11
    Penfold says:

    Any cut is a cut, and for the rabid spendthrifts of NuLab, a cut will have them foaming at the mouth and screaming obscenities.

    The Nations credit card and overdraft have been cancelled and called in.

    What’s needed now is a Star Chamber enquiry into spending, particularly given the last minute contracts that NuLab conducted, and a few heads to roll, literally.

    Like

    • 33
      AC1 says:

      These aren’t cuts, they are ending transfers from the wealth creating sectors.

      Like

    • 46
      Rip Van Winkle says:

      What needs to happen is a Star Court Case with McDoom, Byrne, Timms, Cooper, Balls, Mandelscum and, don’t forget, Blair in the dock for malfeasance in public office.

      Or should that be treason?

      Like

  11. 12
    The Druid says:

    As the Tory self-congratulation continues it falls on me to remind readers that these cuts are not making any significant impact on the financial problems we have. It merely creates the illusion of action.

    Like

    • 20
      Maladroit Labour Chump ( & trainee bigot ) says:

      We’ll all know when the Emergency Budget is announced on 22nd June. We could shave another £ 1,000,000,000 off the deficit if Osborne sequestered Blair & chums’ assets until WMD are discovered.

      Like

      • 25
        The Druid says:

        Fantastic idea.

        Like

        • 89
          Grumpy Old Man says:

          So Tory cuts do not have the same effect as Labour efficiency savings?
          Your nasty little NHS commissars have been busy at work for months before the election. All over the Labour-free area of Kent, efficiency savings in the NHS have mainly consisted of ward closures. Apparently, the average Kentish person is healthier than those in the Labour heartlands, so they don’t need so much care. Brilliant logic to press home that the NHS is safe in Labour’s hands.
          You are, however, the first Labour troll to agree that: 1) there is a financial problem, and 2) Labour’s spending plans would do nothing to alleviate it.

          Like

          • The Druid says:

            Jesus Christ. This happened last time I posted on here. I have never voted Labour, nor do I ever plan to.

            Like

          • Animal says:

            Druid, I think you’ll find the post from Grumps is down to the sneering reaction from Liebore trolls on here of late, which have been a continuation of their policy to lie, twist and sneer – see Madmitch – which means that anyone posting runs the risk of being seen in the same light. I’m sure it wasn’t meant though.

            Sadly, we are in a position where the proposed £6Billion savings are just not enough. Liebore’s squealing about them makes me wonder if it is a deliberate act – Look, over there! – to keep attention away from the big ticking bombs they have laid in the economy.

            As for dealing with the debt, the only way I can see it even beginning to be resolved is:
            1. Deal decisively with immigration and overrule legal wranglings to push people out
            2. Have a European set of guidelines on this area in the future
            3. Penalise countries where people are loking to move due to their own poor levels of care. No more cash for anyone letting people starve while they send rockets into space. India and China, that means you.
            4. Introduce a more effective business taxation system where UK businesses sending money out the country to avoid tax are punished and slightly decreasing the overall burden on business, thus making all firms pay their way
            5. Punish firms who tyry to move their operations offshore while still trying to do business here with a trading tax to stop them trying to game the previous point.
            6. Tax breaks for taking on staff for every x amount of profit
            7. No benefits for those that choose to avoid work
            8. Devolve the public sector so that more homeworkers are utilised, and bring those on disability allowance back into work by giving them jobs, putting able-bodied people back into the employment cycle
            9. Merge the operations of at least half the so-called independent quangos and put their funding on a meritand fully costed basis with a structural limit of no more than 5% management/directorship

            Well, that lot would be a start, anyway.

            Like

          • Dribbler says:

            This ward closure has happened in Cheshire for the same reason. No one in the NHS was allowed to discuss ward closures until after the election as “It could have some bearing on the outcome” Isn’t it about time these fuck brained politicians told us the whole truth. Maybe that would be TOO radical!! If dodgy Dave (sorry) DAVID and his Libby con men don’t sort this mess out to the satisfaction of the majority of the population then insurrection and out of season turnip throwing seems to be the only solution!!

            Like

  12. 13
    Mike Newland says:

    The £6bn will be subtly finessed as the cut necessary to put things straight. The elephant will be portrayed as tomorrow’s problem

    Then we’ll sail on towards disaster. The Tories are not about to commit political suicide.

    Like

  13. 22
    Deluded Labour Supporter says:

    The level of borrowing under this Lib-Con coalition is a disgrace!

    Like

  14. 26
    Deport fanatical muzee benefit scroungers says:

    Here’s a quick and easy way to save money. Tell all the fucking muslim fanatics who live off the state whilst calling for our destruction, and all the east european benefit cheats, that their benefits are being stopped immediately. Just watch them flee in droves to the airport. In one stroke, we save billions in welfare spending and on public services and national resources that are drained by the excess population of leeches.

    Like

    • 34
      AC1 says:

      Can we give the Homegrown Chavs one way tickets too?

      Like

    • 38
      braggart says:

      Thanks for that, Mr Field.

      Like

    • 42
      Nick2 says:

      We can’t stop supporting them (muslims or EU immigrants) whilst continuing to pay the rest of the client state.

      The best thing to do would be to cut benefits across the board & give out foodstamps.

      And allow a (say) 6 year lifetime entitlement to benefits, of which only 18 months can be drawn upon every 10 years.

      Like

    • 92
      Mmm hmmm says:

      Listen dumbfuck, the chavs et al are only doing what the politicos do with their expenses and other ‘entitlement’ (Bleugh’s Family Allowance claim, anyone?); milking the effing system for all they can.

      Like

  15. 28
    Michael Taylor says:

    Absolutely. Need much deeper cuts and tax rises – VAT 20-22.5%

    Like

  16. 29

    Cut hard, cut now and save us all!

    All hail the New Politics!

    Like

  17. 31

    There now follows yet another party political apology on behalf of the Labour party.

    “Hello..us again.Sorry to bother you. Just that that Liam Byrne thing really was a joke. No offence intended. oh..and we are still really sorry about all the problems..prison overcrowding..MRSA.. obesity..shutting all the Post offices ..housing bubble ..well you know, lots of things really.
    Just to say..we are really, really sorry about ..well I won’t list them all. You know what we did..wars and peerages for sale..and , oh yes..erm..the whole forcing Gordon onto you thing.

    But mostly..the debt. Really sorry about that. .. the awful, awful debt.
    That’s what we’d like to apologise for most.
    That and all the immigrants..

    Anyway..sorry..bye..sorry..sorry..bye!..see you in 15 years…”

    Like

  18. 35
    G Brown, private citizen says:

    Hey buddy, can you spare a dime?

    Like

  19. 36
    Jonah McDoom, the cunting former prime mentalist says:

    The borrowing started in America.

    Like

  20. 44
    Tony B Liar says:

    We fucked the country and now we’re very rich! Ha ha! You silly fools! You’re poor and we’re rich! Oh…oh dear, this cough just won’t go away….excuse me for a second…oh, dear, this cough seems to be getting worse. I do hope it’s nothing serious.

    Like

  21. 45
    albacore says:

    Labour “beings”, screaming hysterically, eh Fawkes?
    The Lib/Con banshees inhabit the same fantasy world.
    It’s time they were all exorcised from this one.

    Like

    • 61
      albacore says:

      That made more sense before you corrected your preamble, somewhere around 12.25.
      Still, at least you haven’t zapped my post like you did last time I hinted at your, erm, dyslexia.
      Yet.
      Eh, Guido, eh?

      Like

  22. 47
    sockpuppet #4 says:

    If you’re in a car, driven by a lunatic, you might well be very happy that they take the foot off the accellerator.

    Like

  23. 48
    Liar Byrne says:

    This is the first time I have told the truth in a long,long, LONG time.

    http://tinyurl.com/28rhj8n

    Like

  24. 48
    David Cameron says:

    How do Australians greet Gordon Brown?

    Good eye mate.

    Like

  25. 50
    sockpuppet #4 says:

    (och sod it.)
    if you are in a lorry, driven by a madman you might well be very happy that they take the foot off the accellerator.

    Like

  26. 51

    history may be able to show that Liam Byrne WAS making a joke.

    “the outgoing Tory chancellor of the exchequer, Reginald Maudling, handed over to his Labour successor, James Callaghan, in the hall of No 11 with the words “Sorry to leave such a mess, old cock”.

    But what does history make of this ?

    ” Hitler had a précis of the Beveridge report with him in the Berlin bunker at the end of the war ..”

    Andrew Marr’s history of Modern Britain.

    Like

  27. 52
    Gordon Brown says:

    Nobody loves me.

    Like

  28. 55
    Post-Election Frolics says:

    What’s the difference between Hitler and Brown?

    Hitler was elected.

    Like

  29. 59
    nell says:

    iam Byrne wasn’t making a joke when he wrote that note to the next Chief Secretary of the Treasury saying ‘ sorry to tell there’s no money left’.

    He was gloating!! As we shall soon find out all labour ministers had been deliberately overspending for weeks in the run-up to the General Election with the intention of poisoning the well for what they believed was going to be a minority conservative government. THey didn’t give a toss about the country and the state of our finances that they were relentlessly trashing in pursuit of their own tribal goals.

    Now it is being said that instead of the £890billion deficit that gordon said we had as he left office, in truth our deficit is at least £1790billion and could be much worse.

    We’ll not be forgetting this financially incontinent ex labour government for a very long time!!

    Like

  30. 67
    Osama the Nazarene says:

    These “spending plans” may well be clear to you economists but us mere mortals have to keep scratching our heads. Without a time period the Tory figure of £698 billion doesn’t mean much. If it is all for this year then YES we should be worried! If it is for the next 30 years then I wouldn’t worry so much.

    Like

  31. 69
    Margaret Beckett says:

    My whole career has been a joke.

    Like

  32. 71
    Hannibal Lecter says:

    And they call ME evil.

    Like

  33. 72

    Lots of contracts signed pre-election to lock in pay rises, pensions and bonuses for the public sector. It will be practically impossible to postpone/roll back these commitments, so here’s an alternative plan: a separate tax code for civil servants and quasi civils (e.g. The BBC). A further 25% parallel tax band for non-rpivae sector businesses alongside the 40% and 50% ones should do it.

    Like

    • 88
      BLUURGH! says:

      Oh, I like the sound of that my good fellow.

      Any way to pop the silly fuckers who have voted Labour in the past 13 years into the same brackets?

      Like

  34. 76
    trogdolyte says:

    The creation of fiat money to save governments and useless bankers is going to continue. The political class just does not care. The same in the US and the EU. Make the productive sector pay . Make their children pay and their children’s children pay..For ever.
    If you want to know why just look at the career of Tony Blair, the rest of the politicos and their civil service henchmen., not forgetting those in the so called private sector who have lived off their conniving and incompetence.

    Like

  35. 79
    Moley says:

    The Labour Party Policy was,

    “I could go on – but the madness is now revealed. The plan was to create mass unemployment whilst massively increasing state spending on benefits.”

    From the author of Guido’s link and in his own words.

    Labour should be judged by its deeds; not its lies and broken promises.

    Like

  36. 84
    HappyUk says:

    C’mon Cameron, Osborne et al, you should be rubbing their noses in it relentlessy- including Brown’s scandalous manipulation of the Private Finance Initiative. One or two Op-Ed pieces in The Sun does not really cut the mustard.

    The Tories should be hammering home just how convenient PFI has been as a means of concealing debt: rather than pay for expensive projects upfront, the government promised to make fixed payments in each project over a period of about 30 years — thus keeping this concealed hellfire off the books.

    PFI started innocently enough by Norman Lamont, but it is no surprise Gordon Brown latched on to idea of using it as a cloak of invisibility.

    Like

    • 105
      filipinomonkey says:

      Sun readers have a choice when opening the paper, the politcal comment on page 2 or Jane from Solihull with huge tits who is worried about climate change on Page 3.

      Might not be the best way on influencing the electorate methinks…

      Like

  37. 86
    DNTT says:

    How difficult is it to cut the National Debt? Very.

    Even by cutting state expenditure by slashing the public sector, withdrawing from overseas wars, and creating a special economic zone with favourable corporation tax for overseas investors we’re still at least £100 BILLION short per year.

    I’ve fleshed this out in more detail at my blog…

    http://donottrustthesepeople.blogspot.com/2010/05/how-difficult-is-it-to-cut-national.html

    Like

    • 117
      Anonymous says:

      I like the cut of your jib young man!

      Like

    • 118
      Mrs Duffy's Mum says:

      Given the excellent press the public sector are getting on this thread, a few comments to the contrary from a civil servant:

      – I work in Westminster but live in the Midlands; hence I lodge in London for three days a week AT MY OWN EXPENSE. I also pay all my travel costs. The other two days I work from home in order to save on nursery costs for my daughter;

      – Contrary to popular belief, the majority of civil servants do no spend the day drinking tea and surfing the net – I regularly work late and at weekends, and there are many more like me;

      – My salary is reasonable but not exceptional;

      – When I retire (should I be lucky to live that long) my pension will be the princely sum of around 12k after 17 years service (I’ve previously worked in the manufacturing and service sectors) and have also made significant additional pension payments;

      – The majority of civil servants do produce something, ie not sod all which appears to be the popular conception;

      – Hence a pogrom of civil servants is not the answer to the country’s woes, and will most certainly have negligible impact on the deficit; and

      – For the record I am a lib-dem voter; however on this occasion I voted tactically for the tories (I live in what was a labour, now tory marginal) because I did not wish to contribute in any way to Brown staying in power.

      Like

  38. 90
    Grumpy Old Man says:

    Vote B&P!

    Like

  39. 119
    Ordinary Bloke... says:

    1st thing to go should be the ‘Trade Union modernisation fund’…

    Just how much taxpayers money made it into NuLiebours coffers over the years.

    Anyone got some figures ?

    Like


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VOTER-RECALL
Find out more about PLMR


Before Miliband spoke, a school choir sang ‘Fix You’ by Coldplay. The first verse of which goes like this:

“When you try your best, but you don’t succeed
When you get what you want, but not what you need
When you feel so tired, but you can’t sleep
Stuck in reverse”



cynic says:

Can anyone help me? I went on holiday a week ago and returned to find someone has pulled out the stake and Gordon Brown is back and acting as Prime Minister. What did I miss? Has there been a snap election?


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