http://business.timesonline.co.uk/to...cle6157713.ece
"Decades of pain ahead to repair nation’s coffers
It will be not be until February 27, 2032,
when those now in their late thirties are approaching retirement, 
that the country’s national debt once again falls back into line with Gordon Brown’s former fiscal rules, an influential think-tank said yesterday.
The Institute for Fiscal Studies (IFS) said that it would take more than 22 years for the public debt, which the Chancellor forecast would balloon to nearly 80 per cent of national income, to drop back to 40 per cent.
It warned that the country should brace itself for “two Parliaments of pain” as the Government scrambled to repair the damage caused by the financial crisis and the resulting £90 billion-a-year black hole in its coffers.
Alistair Darling was forced to suspend Mr Brown’s borrowing rule, which stated that borrowing should not exceed 40 per cent of national income, in November."
now that's not good no matter how you look at it..
"Decades of pain ahead to repair nation’s coffers
It will be not be until February 27, 2032,
when those now in their late thirties are approaching retirement, that the country’s national debt once again falls back into line with Gordon Brown’s former fiscal rules, an influential think-tank said yesterday. The Institute for Fiscal Studies (IFS) said that it would take more than 22 years for the public debt, which the Chancellor forecast would balloon to nearly 80 per cent of national income, to drop back to 40 per cent.
It warned that the country should brace itself for “two Parliaments of pain” as the Government scrambled to repair the damage caused by the financial crisis and the resulting £90 billion-a-year black hole in its coffers.
Alistair Darling was forced to suspend Mr Brown’s borrowing rule, which stated that borrowing should not exceed 40 per cent of national income, in November."
now that's not good no matter how you look at it..
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