Wednesday, December 06, 2006

That pre Budget Report in full

Ukrainian tractor production up 137.5%, better in fact than Ukraine which only managed 122%!


Golden bollocks Rule!

We will only borrow to invest over the economic cycle!

(Ed, hold on, we have had 57 straight quarters of economic growth so why do we need to borrow? Just how long is this economic cycle?)

We have invested more (Ed, surely spent?) than the Conservatives on Education and the NHS (Ed, hold on didn't Gordon say that spending wasn't the answer in 1997?) to build a better future for everyone in the country (Ed, apart from the people in the bottom 2 percentiles who are worse off then they were under the Conservatives)

We build on economic growth (Ed. You what? you jest surely? The only growth we get is by bringing more people into the labour market, keeping wages low and generally making people feel naffed off) built on massive public spending, private borrowing and bringing in more immigrants sound economics. (Ed, ah I see.)

We have borrowed to invest, I'd rather not admit how much, but it would make any decent man cry and I have not even included my favorite wheeze, PFI, and next year we will exceed what was forecast last year. to build a better future! That I won't be around to pay for!

Editorial note: Gordon Brown forecast borrowing between 2001 and 2006 of £28 Billion despite a record stretch of economic growth, but managed to borrow £129 Billion. Current forecasts of Gordon "whats prudence?" Brown indicate borrowing of £175 billion over the next 6 years. And you thought your mortgage was high? I expect that number to grow and be called "investment". However it does not include PFI.


Chris D said...

Benedict, what is the figure when you do include PFI?

Benedict White said...

ChrisD I don't know. I am not sure there is one accurate overall authoritative figure.

Ellee said...

I have to rely on you with your financial background to get the facts out on this. At the end of the day, people want to know how much richer/poorer they will be. What do these figures mean to them?

Benedict White said...

Ellee, I will have to look at that when I get home. However I am slightly more concerned about storing up problems for the future than how people are doing now. The borrowing is horrific.