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UK government borrowing hits record high

GeneHunt_2
Posts: 286 Forumite
The amount of new public sector borrowing hit a fresh record high in November, according to the Office for National Statistics (ONS).
Net borrowing totalled £23.3bn last month, up from £17.4bn a year ago, and more than analysts had expected.
The rise was caused by higher health and defence spending, and more money going to the European Union.
The latest figures are likely to raise concerns about the government's efforts to reduce the UK's budget deficit.
http://www.bbc.co.uk/news/business-12047673
I thought we voted these people in to STOP SPENDING MONEY

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the defecit was never the real problem in all of this0
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these spending cuts must be very backloaded0 -
the defecit[sic] was never the real problem in all of this
Prediction for 2011: Britain will go cap in hand to the IMF/US once the ConDem coalition collapses."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
If your income was £1,000 and your expenditure was £1,100, you would add yet another £100 to your deficit. If your borrowing was already at a 'record' then the extra £100 must, by definition, create a new record.
If you planned that nothing will change for now, but you have agreed to cut your expenditure to £900 a month, but only from next April, then let me ask a simple multiple choice question:
In the above circumstances, for December 2010, January, February and March, 2011, what do you think would happen to your deficit:
1. I am not capable of 'thinking' so I suspect it would stay the same.
2. I think this is too obvious a question. It is patently obvious that until April 2011, the deficit is going to rise by at least another £100 a month plus interest.
3. I am so patently stupid that I think that it should go down. I don't undestand maths and I can't add up. I am so utterly brain dead that I think that when you promise to spend less from next April, a little genie comes down from the sky and pays you back all the deficit that's already locked in with current spending. In fact since my lobotomy, my grasp of simple numbers tells me that the budget deficit should simply go away - innit?
Answers on a postcard.....0 -
Is it... 3?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Answers on a postcard.....
I think the analysts who predicted a lower number went for 3. Is there a prize or is the draw being done by Ant and Dec?0
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