Britain is slowly sinking into the doo-doo as weaker tax receipts from the recession-bedevilled economy emptied out the Treasury’s chamber pot.
Figures from the Office for National Statistics showed that net borrowing (excluding the bit the bankers stole from us) stood at a tad under £18 billion last month. This is up from the £15 billion it was in May 2011.
The idiots who pose as analysts (only the first four letters are correct) in the City expected net borrowing to come in at around £14.5 billion. Whoever pays their wages are simpletons. Oh… we do.
Anyway, tax receipts were down more than 7% on May 2011 and government spending was UP 8%.
So… Tory apologists… What do you have to say to that? So far, all of us who actually understand the economy have said:
1) Cutting public services and increasing unemployment will increase the demand on the public purse and cut receipts to the Exchequer
2) The Chancellors actions will result in a flat or shrinking economy
3) That as a consequence of this, borrowing will actually increase, not decrease.
4) The ONLY way out of this recession is to fund growth through borrowing to invest in the economy, not borrowing to patch over the economic incompetence of the government.
This lot have screwed things up and it##Q##s time you lot admitted it. Yes Missus Daily Mail Reader from Reading – I mean YOU.
We were on the way back to recovery with Gordon##Q##s plan, but NOW we are so far in the poo that we might need breathing apparatus.
Here’s a list of people who got it wrong:
- The Conservative / Liberal Coalition
- Daily Mail readers
- Sun readers
- The IMF
- The German government
- The old French Government
- Neo-Liberals everywhere
- Everyone who voted for the Tories
- The City, especially the anal boys.
- The BBC economics department
- Dave and Gideon.
This isn’t an exclusive list, but it covers most of the bases. It’s time they owned up, explained that they really didn’t know what they were doing and turned the economy over to the clever people, like Paul Krugman.