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

Jo Swinson on Chris Rennard…

“Vince — and Tim before him — have repeatedly, publicly said Rennard is not welcome anywhere near their frontbench team, even as an adviser. I remain deeply frustrated that he was not expelled from the party through its disciplinary process. It just feels wrong, and I do not want Lord Rennard to continue as a member of the party. As far as I am concerned, he is not welcome.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Top Corbynista Compares Mugabe to Queen Top Corbynista Compares Mugabe to Queen
Owen, Piers, Guido Three-Way Owen, Piers, Guido Three-Way
EU Game Teaches Kids to “Collect More Taxes” EU Game Teaches Kids to “Collect More Taxes”
Kezia: I’m A Hypocrite, Get Me Out of Here Kezia: I’m A Hypocrite, Get Me Out of Here
Siemens to Cut European Jobs, Expand in UK Siemens to Cut European Jobs, Expand in UK
WATCH: DD Meets Cliff Edge WATCH: DD Meets Cliff Edge
Momentum Plot to Treble Council Tax For 15,000 Households in Bristol Momentum Plot to Treble Council Tax For 15,000 Households in Bristol
75% of European Medicines Agency Staff Want to Stay in London 75% of European Medicines Agency Staff Want to Stay in London
Newsnight’s Royal Farce Newsnight’s Royal Farce
MPs’ Security Costs Rise 1395% MPs’ Security Costs Rise 1395%
Just 12% of MPs Vote to Stay in Customs Union Just 12% of MPs Vote to Stay in Customs Union
WATCH Scottish Labour Leader: “I Support England” WATCH Scottish Labour Leader: “I Support England”
Majority Think Work Porn “Career Ending” Majority Think Work Porn “Career Ending”
Paperchase Faces Backlash After Bowing to Anti-Press Freedom Cranks Paperchase Faces Backlash After Bowing to Anti-Press Freedom Cranks
WATCH: Moment Stephen Kinnock Realises Corbyn Is Staying WATCH: Moment Stephen Kinnock Realises Corbyn Is Staying
New Scottish Labour Leader’s Old Boys’ Black Tie Dinner New Scottish Labour Leader’s Old Boys’ Black Tie Dinner
Labour Outsources Flashy New Website to Bernie’s US Consultants Labour Outsources Flashy New Website to Bernie’s US Consultants
Unilever’s Remain Ultra CEO Threatens to Drop London Listing Unilever’s Remain Ultra CEO Threatens to Drop London Listing
Hammond Re-Announces Existing Tory Housing Policy Hammond Re-Announces Existing Tory Housing Policy
Stanley Early Favourite to Win I’m A Celeb Stanley Early Favourite to Win I’m A Celeb