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It's Probably Nothing

By Kate on September 25, 2012 7:28 AM | 9 Comments

Public sector net borrowing has risen to its highest figure since records began for the month of August, the Office for National Statistics has revealed.
It stood at £14.4bn in August, marginally higher than the same month last year.

The Government had planned to reduce the deficit by 4.6% this year, yet there was a 22% increase in the deficit between April and August.

[...]

In an interview with Channel 4 News last night, the Governor of the Bank of England Sir Mervyn King said it would be "acceptable" for debt targets to be missed.

9 Comments

Dirtman | September 25, 2012 11:47 AM | Reply

Damn the torpedos! Full speed ahead!

set you free | September 25, 2012 1:06 PM | Reply

There can be no price tag on our utopian construction!

Scar | September 25, 2012 1:13 PM | Reply

The Brits boot out Labour because they were incompetent A-holes and end up with incompetent Conservative A-holes. Don't they realize the reason people voted Conservative was because Labour frigged it all up? People expect change and get a repeat. A lot of people must be asking why they didn't just re-elect Labour.

Someone should tell Harper that the recession pretty much ended a couple years ago and we need to get back into running small surpluses. Doing it should be relatively painless because when Harper took power there was something like a $20 billion surplus.

set you free | September 25, 2012 2:00 PM | Reply

So, Harper can command economic activity?

peterj | September 25, 2012 2:48 PM | Reply

Thousands of cameras in every town, the nanny state involved in every aspect of life , welfare gone wild, third world immigration out of control and green programs destroying what's left of the economy. Gee, what a surprise that the British civil service is still growing. There is nothing else left that has a future.

Revnant Dream | September 25, 2012 4:28 PM | Reply

Bank of England Sir Mervyn King said it would be "acceptable" for debt targets to be missed.
Of course the swag from the Public must ever dribble into civil service accounts forever no matter what. Its the true Never ending story.
That is till they are conquered for a lack of defense or social sense..

DLM | September 25, 2012 5:28 PM | Reply

Their conqueror is already on the island demanding sharia courts.

Philanthropist | September 25, 2012 9:56 PM | Reply

They'll just have to keep borrowing billions upon billions of dollars indefinitely, that's all...

ct | September 26, 2012 11:04 AM | Reply

PBS's Charlie Rose had an economist on the other night. He stated Obama is overestimating growth in GDP to make his deficits more palateable. 4% growth, not going to happen. Should that surprise anyone.

To an extent the Harper government is doing the same thing. While they periodically caution people that the Canadian economy is at the mercy of international commerce the debt spending continues.

I am strong advocate of Harper fireside chats to the Canadian people about the economy. If the level of financial ignorance continues it will simply be a matter of time before a complete idiot like Turdeau is elected.

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ct: PBS's Charlie Rose had an economist on the other night. read more
Philanthropist: They'll just have to keep borrowing billions upon billions of read more
DLM: Their conqueror is already on the island demanding sharia courts. read more
Revnant Dream: Bank of England Sir Mervyn King said it would be read more
peterj: Thousands of cameras in every town, the nanny state involved read more
set you free: So, Harper can command economic activity? read more
Scar: The Brits boot out Labour because they were incompetent A-holes read more
set you free: There can be no price tag on our utopian construction! read more
Dirtman: Damn the torpedos! Full speed ahead! read more

It's Probably Nothing

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9 Comments