Monday, 24 November 2008


What a totally disgraceful and pathetic pre-budget report I’ve just had the misfortune to sit through this afternoon. It is difficult to get one’s head around the levels of borrowing that Chancellor Alistair Darling will now be running up as a result of this Government's incompetence in handling the economy over the last few years.

£78,000,000,000 in extra borrowing in this financial year, plus

£118,000,000,000 extra borrowing in the financial year 2009/10, plus

£105,000,000,000 extra borrowing in the financial year 2010/11

At this rate it could soon add up to a big number!

And who pays the interest on these enormous borrowings? Me, you, and for many, many years to come, so will our children. Yes we are spending as if there is no tomorrow and our children will have to pick up the tab. To the next generation we leave all our worldly debts!

Perhaps you are cheering the 2.5% drop in VAT? Last week Marks & Spencer had a 20% sale yet I stayed at home. Debenhams had a 25% sale over 3 days last week and still I stayed at home. Now Mr Darling is expecting me to rush out next week on a personal spending binge once all the poor retailers have had the time to change all their prices to reflect a 2.5% reduction in VAT. Yeah right! Perhaps he wanted to reduce it further but the European Union doesn’t allow their EU regional governments to set the standard VAT rate below 15%.

There are lots of handouts of child benefits and extra payments to pensioners paid for by an increase in the tax on jobs – National Insurance.

Last week two Scots apologised and resigned due to the parlous state into which they had got their organisation (the Royal Bank of Scotland). It is too much to hope that the ultimate incompetent Scottish duo – Brown and Darling – will now have the decency to do likewise and call a General Election!


Ladybird World Mother said...

It's pants, as my younger friends would say. We will probably have to wait the full term for an election. Makes Me Cross.
(Can't believe all the noughts. A truly Big Number... What a disgrace)

Deborah Carr (Debs) said...

It's all so depressing. Does anyone in this government know what they're doing?

Mind you, they're no better over here. They introduced a Goods & Services Tax just before the finances of the world collapsed. Typical good timing!

Troy said...

LWM - so its a myth that all teachers are Guardian reading Marxists. Excellent!

Debs - I didn't know Jersey had a GST. What rate is it - lower than 15% I guess?

Carol said...

Those are very scary numbers!!! We're not moving back at a very good time are we....

C x

Anonymous said...

Think I'd best stay in France for the time being, especially since I'm Scottish! Never have been that good with money. Now I know why!

Trixie said...

Geez...and I'm worried about the £900 of my total debt! But that's why I have two jobs.

Troy said...

Carol - I think Darling is hoping you'll bring £1trillion with you!

TT - if you stay can you send us some food parcels?

Trixie - if only every other single mum followed your heroic example rather than relying on state handouts. Don't let that debt get bigger than £1,000 and you'll be okay.

Anonymous said...


CJ xx

John Woodman said...

Mind you, Why shouldn't those children pay? Someone's got to; its a small price to pay for the privelege of being brought into the world and being brought up.

Troy said...

John - fair point. Perhaps I should keep a tab of all the money I spend on Troy Junior and then give him the bill when he reaches 21? Sort of pension planning.

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