Government borrowing rose to £77.3bn in the first six months of the financial year, more than double the debt racked up in the same period last year, as tax revenues tumbled by 10 per cent.
Public sector net borrowing rose by £14.8bn last month, slightly less than economists had expected, but still the biggest increase on record for September.
The soaring deficit, which is set to reach a post-war high this year, has come as tax revenues have plunged in the recession, but government spending has risen, partly as a result of the costs of social welfare during the downturn.
Well the answer is obvious. It's because the Government have the taxpayers by the balls. Which in the main is the fault of all those righteous, Grauniad reading, lefties who continually voted for New Labour and the statist drivel they call policy.
People on every side of the political equation need to get real. THIS CANNOT CONTINUE! IT IS FINANCIALLY RETARDED!
We must balance the budget and begin to pay off debt. And that means CUTTING public spending.
Now, for all those people who worry about what will happen to the schools and hospitals if we cut public spending let me say this...
If we do not cut public spending and start paying down the debt there will be no schools or hospitals -- AT ALL!!
Because every pound that has to go towards paying off government debt is destroying our nation's wealth. It is making us poorer -- fact.
People really should be very, very angry about this because the Government is literally destroying everything we have.
1 comments:
"If we do not cut public spending and start paying down the debt there will be no schools or hospitals -- AT ALL!! "
Is that not LPUK future policy?
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