Public borrowing £20.3 billion in November alone!

worldtraveller

Public borrowing hit an all-time high of £20.3 billion for a single month in November, official figures have revealed.

The latest confirmation of the recession's impact on the public finances will put more pressure on Chancellor Alistair Darling.

The £20.3 billion is more than was borrowed by the UK for the whole of 2002 and on a par with International Monetary Fund estimates for the entire 2009 output of economies such as Costa Rica and Uruguay.

Net borrowing is expected to reach £178 billion for the year as a whole.

The gloomy figures also showed net debt reaching a record £844.5 billion in November - or 60.2% of the UK's annual GDP.

Current tax receipts fell by £1 billion on the same month a year ago while spending jumped by more than £3 billion to £50.3 billion.

Press Association

Welcome to the Banana Republic of the UK! :rolleyes:

1984ReturnsForReal_2

& the biggest worry is can they clear most of the debt before the next recession hits in 8-12 years not even knowing when this one will end & a proper recovery starts?

It is its going to be very painful & very expensive for everyone for a long time to come...

amcluesent

Clown's failures to fix the roof while the sun was shining will mean babes-in-arms today will be subject to a grim, austere working life of paying back debt. Kiddies will likely have the same standard of living at their grand-parents in the 1950s. Fuel and food rationing kicks in when the IMF takes over and we have to scrimp and save, as the £ becomes worthless.

Still, the Labour Fabians wanted to turn England into a socialist utopia, looks like we'll end like Romania circa 1975.

drc

amcluesent wrote: »

Clown's failures to fix the roof while the sun was shining will mean babes-in-arms today will be subject to a grim, austere working life of paying back debt. Kiddies will likely have the same standard of living at their grand-parents in the 1950s. Fuel and food rationing kicks in when the IMF takes over and we have to scrimp and save, as the £ becomes worthless.

Still, the Labour Fabians wanted to turn England into a socialist utopia, looks like we'll end like Romania circa 1975.

What will become of all those millions of people who have never worked and never intend to?

ThrowingStonesAtYou

drc wrote: »

What will become of all those millions of people who have never worked and never intend to?

we will chuck them on the fire when gas becomes too expensive.

The_White_Horse

i don't understand why any sensible person would ever vote in labour. they cannot run a country!! they should be allowed to discuss their stupid ideals in a coffee shop, wearing their cardigans and sandals and eating lentils, and let the tories get on with running the country.

harperson is good at creating non gender specific parent festimas, but they can't run a country for toffee.

they are not only hateful, but they are inept and hateful.

generations will pay for their spectacular failure on all levels for hundreds of years.

Tax is up, spending is up and pretty much every service is down. our education is a world wide joke. our troops our dying, we are the only G20 country still in recession (and when we do emerge, it isn't because of an actual recovery but more smoke and mirrors), we have the worst cancer survival rates in the western world - BUT

BUT we do have the best lifestyle for the scrounging chav underclass. they all have top speed broadband. Isn't that great?

Labours whole point is to take from those who work to give to scrounging scum, create so much red tape no one can function anymore and place themselves in a position where they can meddle in every facet of everyone's lives. They hate people who do well and always try and bring everyone down to the lowest common denominator so we can all be the same - WE ARE NOT ALL THE SAME YOU LEFTY FILTH!!!!

absolute jokers.

1984ReturnsForReal_2

The_White_Horse wrote: »

Tax is up, spending is up and pretty much every service is down.

NHS is much much better than when the cons were in charge.

There is no doubt about it.

MatteH

1984ReturnsForReal wrote: »

NHS is much much better than when the cons were in charge.

There is no doubt about it.

Shame it was paid for on the 'credit card'....which has yet to be paid back! :eek:

The_White_Horse

1984ReturnsForReal wrote: »

NHS is much much better than when the cons were in charge.

There is no doubt about it.

Is it much better, considering the amount of cash thrown at it?

dougs

But according to the BBC (Biased Broadcasting Corporation)

"The figure was the highest for any month since records began in 1993, but was less than economists had expected. "

Oh, well that's alright then, nothing to worry about :rolleyes:

More spin..... :mad:

markharding557

Labours whole point is to take from those who work to give to scrounging scum, create so much red tape no one can function anymore and place themselves in a position where they can meddle in every facet of everyone's lives. They hate people who do well and always try and bring everyone down to the lowest common denominator so we can all be the same - WE ARE NOT ALL THE SAME YOU LEFTY FILTH!!!!

absolute jokers.[/QUOTE]
your view of the last twenty years seems very blinkerd ,i seem to recall welfare dependancy was very well established under john major,didn't they encourage doctors to sign people on incapacity to keep unemployment figures down?

As for hating people who do well-why did they appoint alan sugar?are there not millionair labour mps,and tony blair-he seems quite upper class-expensivley educated etc.
Labour socialist! they haven't got a socialist bone in their bodies-everything would be nationalized by now if they were.