Public borrowing hits £19.9 billion....... and thats just for May !!

ad9898_3

Lord, when this money has to be paid back we are all going to feel pain, the government is still in the 'shopping mall' at the moment, like the 'airhead chav' with their credit card, spend, spend, spend,with no thought whatsoever of how and when this kind of unsustainable borrowing will be paid back, the airhead chav in this case is Gordon Brown, a listen to PMQ's yesterday gave us the opportunity to see Brown with his fingers in his ears going 'la la la la la la'.

There will be tears, the question is only, when?

Public borrowing hit a record £19.9 billion in May as the recession continues to take its toll, official figures revealed this morning.
May's borrowing was nearly double the £10.6 billion borrowed in April. Public sector net borrowing for this financial year is now £30.5 billion — more than twice the level seen at the same stage 12 months earlier.
Even though May is traditionally a weaker month for public finances, borrowing over the month is the biggest figure since the Office for National Statistics’ (ONS) records began in 1993.
"Tax revenues continued to be decimated across the board by contracting economic activity, declining corporate profitability, elevated and rising unemployment, markedly reduced bonus payments, the VAT cut, and low housing market activity and prices," Howard Archer, chief European and UK economist at IHS Global Insight, said

http://business.timesonline.co.uk/tol/business/economics/article6526820.ece

Thrugelmir

ad9898 wrote: »

Lord, when this money has to be paid back we are all going to feel pain, the government is still in the 'shopping mall' at the moment, like the 'airhead chav' with their credit card, spend, spend, spend,with no thought whatsoever of how and when this kind of unsustainable borrowing will be paid back, the airhead chav in this case is Gordon Brown, a listen to PMQ's yesterday gave us the opportunity to see Brown with his fingers in his ears going 'la la la la la la'.

There will be tears, the question is only, when?

http://business.timesonline.co.uk/tol/business/economics/article6526820.ece

Sooner than most people realise............

Old_Slaphead

To cure, what would you rather the medicine be...

a) Tories "slashing" public expenditure

or

b) Labour marginally decreasing the rate of increased investment

neil324

Old_Slaphead wrote: »

To cure, what would you rather the medicine be...

a) Tories "slashing" public expenditure

or

b) Labour marginally decreasing the rate of increased investment

Or the IMF with loads of strings attached?

ad9898_3

Old_Slaphead wrote: »

To cure, what would you rather the medicine be...

a) Tories "slashing" public expenditure

or

b) Labour marginally decreasing the rate of increased investment

Oh yes, I forgot they are 'borrowing to invest':rolleyes::rotfl:, ok, all is well, nothing to see here move along.


I've said it before, I will take (a) and empty my own bins and save for my own pension instead of paying for a gold plated one for some pen pusher/paper clip shuffler.

Thrugelmir

Old_Slaphead wrote: »

To cure, what would you rather the medicine be...

a) Tories "slashing" public expenditure

or

b) Labour marginally decreasing the rate of increased investment

The debate outside of the Punch and Judy show is how we correct the budget imbalance in an effective manner.

The old political parties are heading the way of the dinosaurs.

a and b are the same thing.