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Don't worry, it's okay, everything's fine

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    Don't worry, it's okay, everything's fine

    http://news.bbc.co.uk/1/hi/business/5097706.stm

    The UK has posted a record budget deficit for the public sector in May.
    The May current deficit was £8.7bn, £1bn higher than a year ago, the Office for National Statistics (ONS) said.

    Public Sector Net Borrowing (PSNB) - which includes capital investment - showed a deficit of £10bn, the second highest figure on record.

    Rising government spending was mainly responsible, the ONS said, although lower corporate tax receipts also contributed.

    Another measure of public borrowing, the public sector net cash requirement, reached £7.4bn, £2.3bn higher than one year ago, and the highest for May on record.


    HTH

    #2
    Originally posted by DimPrawn
    http://news.bbc.co.uk/1/hi/business/5097706.stm

    The UK has posted a record budget deficit for the public sector in May.
    The May current deficit was £8.7bn, £1bn higher than a year ago, the Office for National Statistics (ONS) said.

    Public Sector Net Borrowing (PSNB) - which includes capital investment - showed a deficit of £10bn, the second highest figure on record.

    Rising government spending was mainly responsible, the ONS said, although lower corporate tax receipts also contributed.

    Another measure of public borrowing, the public sector net cash requirement, reached £7.4bn, £2.3bn higher than one year ago, and the highest for May on record.


    HTH

    Now you see why the 12 million pounds for BlairForce Jets doesnt really count in the grand scheme of things, I mean OK, 12 million sounds like a lot, I know, but when you add it to a deficit of 8.7 Billion then its peanuts.

    Good job weve got so many hard working UK taxpayers!

    Now then ...back to work with you.

    Tony Blair

    Comment


      #3
      Jeez! 8.7 billion times 12 ... that works out at 100 billion a year, doesn't it?

      Denis Healey will be proud! IMF here we come!

      Erm, but doesn't that mean we are in the sh1t?

      Comment


        #4
        Originally posted by wendigo100
        Jeez! 8.7 billion times 12 ... that works out at 100 billion a year, doesn't it?

        Denis Healey will be proud! IMF here we come!

        Erm, but doesn't that mean we are in the sh1t?
        Watch our for a hasty announcement regarding withdrawing troops from Iraq, then various social benefits not being paid and the Taxman demanding payment even from those who have already paid, finally demands for all UK Passports to be returned to the Home Office , for security reasons.

        Comment


          #5
          The public sector deficit is fine when you conceder the benefits to society such a nappy co-originators, muslim community centres, councils flats for gays and publications in Punjabi,
          HEALTH WARNING. IT Can Damage your Health. Free Advice. Advice in the forum is the £9,995 version. By reading the health warning you are agreeing to the terms and conditions. Advice maybe bad as well as good. 24 months interest free. Your home is at risk if you don’t keep up payments. Advice limited to availability.

          Comment


            #6
            Originally posted by wendigo100
            Erm, but doesn't that mean we are in the sh1t?
            Not at all. We are living in a socialist utopia and have never had it so good. Ask Benn0 if you don't believe me.

            All we need to do is ship a couple of million more immigrants in to keep the housing market propped up and people borrowing. Sorted.

            Comment


              #7
              Originally posted by Clog II The Avenger
              The public sector deficit is fine when you conceder the benefits to society such a nappy co-originators, muslim community centres, councils flats for gays and publications in Punjabi,

              You forgot the billions pledged to save Africa... anyway being thick... is 100 billion a trillion in real money?
              How fortunate for governments that the people they administer don't think

              Comment


                #8
                Originally posted by Troll
                You forgot the billions pledged to save Africa... anyway being thick... is 100 billion a trillion in real money?
                No, as the Lizard has explained, but it is a feckin lot and miles more than anything we've ever had before.

                I'm guessing, but I think it is comparable to the annual deficits of all the tin-pot banana republics in South America put together.

                Comment


                  #9
                  This "Capital Investment " phrase that I know Brown has used on many occasions , what is he investing in? Dont tell me its the health service , he would be better off sticking the lot on a horse.

                  Comment


                    #10
                    Lease payments to PFI companies have been reclassified as "investment" in order to make the accounts look better. You know, much like HP payments or rent money are an "investment".

                    Comment

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