MPs Take the Can Back

You wait for ages for a good letter in the FT and suddenly two come along at once. It’s not just the eminent economists telling it like it is about the 50p tax rate this morning, but also another healthy dose of reality from the CEO of brokers Tullett Prebon, Terry Smith:

“To the ordinary person in the street, the idea that we can rescue ourselves from a crisis caused by excessive borrowing by borrowing even more must seem mad. In this respect they are possessed of far more common sense than those who are currently advocating just such a course of action and purport to be our leaders… The first step in rectifying this situation should be to make a clear and unambiguous statement about the actual debt the UK is carrying.”

Once messy public sector pensions, PFI and banking guarantees are taken into account, Smith believes out debt to be £3,589,000,000,000. MPs are reporting that their very own can arrived in the post this morning from Smith.  To keep on kicking:

Guido is amused…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

According to the Mail, when Tory MP Marcus Fysh called Venezuela a ‘socialist experiment gone wrong’ at PMQs, Jeremy Corbyn mouthed:

“What a complete w*nker.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Snow Such Thing as Impartiality Snow Such Thing as Impartiality
Lefties Duped by ‘Why Socialism Works’ Lefties Duped by ‘Why Socialism Works’
Select Committees Runners and Riders Select Committees Runners and Riders
Meltdown After Nuclear Power Plant Holds Bikini Contest to Choose Interns Meltdown After Nuclear Power Plant Holds Bikini Contest to Choose Interns
DUP Deal Signed DUP Deal Signed
Watch: McDonnell on Grenfell ‘Murder’ Watch: McDonnell on Grenfell ‘Murder’
Sunday Shows Sunday Shows
The Economist’s Lack of Intelligence Unit The Economist’s Lack of Intelligence Unit
Happy Independence Day! Happy Independence Day!
Sun Cleared by Hospital Sun Cleared by Hospital
Exporters Order Books at 29 Year High Exporters Order Books at 29 Year High
Corbyn Refuses to Bow to The Queen Corbyn Refuses to Bow to The Queen
McDonnell Repeatedly Backed Far Left ‘Day of Rage’ Group McDonnell Repeatedly Backed Far Left ‘Day of Rage’ Group
“Soft” and “Hard” Brexit Terms Obsolete “Soft” and “Hard” Brexit Terms Obsolete
Hammond’s “Sound Money” Speech Sadly All Spin Hammond’s “Sound Money” Speech Sadly All Spin
Tommy Robinson Called British Muslims “Enemy Combatants” Tommy Robinson Called British Muslims “Enemy Combatants”
Corbyn Praised at London Hezbollah Rally Corbyn Praised at London Hezbollah Rally