The despair Of The British nation.

Friday, 23 January 2009

Brown's bubble as it bursts. Unique footage from Brown's personal library.

This is the UK's financial situation. They don't want you to see it.
Compare this to the PBR of last November. Can you see any coherent relationship to the BEGINNINGS of this recession?
"So I am forecasting growth of between 1 ½ and 2 per cent in 2010
As a result of the combined effect of lower revenues, our commitment to maintain spending and extra support to the economy, borrowing will rise to £78bn this year and £118bn next, or 8.0 per cent of GDP.
But then, from 2010, as I take action to reduce borrowing when the economy begins to recover, borrowing will fall to £105bn, £87bn, £70bn and £54bn.
Mr Speaker, by 2011 we expect the economy to be recovering strongly, profits rising and incomes growing at close to 4 per cent, as they have over the last decade.
I propose, therefore, from April 2011 to increase by half a percent all rates of National Insurance Contributions, for both employees and employers.
And as a result of my decisions today to provide support now and balance the books in the future, I will bring the current budget
back into balance by 2015/16
Not on his watch he won't.

2 comments:

Ted Foan said...

Depression anyone? I feel bloody suicidal!

Oldrightie said...

Bloody hell, Ted, talk about spooky?