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Making the world smile, one muscle at a time

Is the 25% cut in the deficit real?

by Marrick on October 24, 2012

One of the things that has been much trumpeted recently is the government##Q##s “success” in cutting net borrowing (the deficit) by 25%. I thought I##Q##d look into it. Here are the net borrowing figures for the last few years – just before the financial crisis and just after: 2007-08 £40.3bn 2008-09 £104.2bn 2009-10 £167.4bn 2010-11 […]

It’s time to admit you got it wrong, people…

by Marrick on June 26, 2012

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 […]