This is the headline of a piece written by Fraser Nelson today on the Coffee House, bringing home the stark facts about this country's debt.
Apparently one of the main parties has produced a poster (and it did not make me go blue with rage) showing a new born baby with the caption "Dad's Eyes, Mum's Nose, Gordon Brown's Debt", which calculates that this baby, born today, starts life with a personal debt of £17,000. The initial regret is that the party producing this poster doesn't seem to have any real idea for a solution either, in view of their continued wish to remain a member of the European Union.
In his article Fraser Nelson states "The truth: in 1996-97 the UK debt was £347bn. By the end of the boom in 2007-08 it had soared to £527bn and is forecast to hit £1.02 trillion in 2012-13. And this is using Brown's method: ie, not including the nationalised banks or the debt hidden in PFI contracts."
During his career as a politician and especially during his time in government Gordon Brown has utilised that trick, practiced so well by his boss - the EU - of 'creative accounting'.
No comments:
Post a Comment