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General Categories => Politics => Topic started by: Philofacts on June 04, 2011, 08:23:59 am

Title: April Government spending higher despite austerity
Post by: Philofacts on June 04, 2011, 08:23:59 am

In April the government borrowed £10bn due to increased spending and falling tax receipts.

Spending in April was the highest ever for a single month at £54bn.  We are currently borrowing £153m every day just to pay the interest on the UK debt which now represents 60% of GDP - the highest level for 40 years.

Meanwhile, it has been reported that David Cameron has spent £680,000 "renovating Downing Street" since May last year.
So much for cutting spending!

Title: Re: April Government spending higher despite austerity
Post by: The Prophet on June 04, 2011, 08:53:12 am

Its all smoke and mirrors.  The figures involved are so large it beggars belief.

They can always repay the national debt by printing more money.
What will THAT do to your savings?