+++ ONS : Public Net Debt 43.1% +++
The Office of National Statistics makes it official: 40% Golden Rule smashed by Northern Rock being included as government debt... don't even think about Network Rail or the unfunded public sector pensions deficit...
58 comments:
That's it, surely?
Brown dug his own grave with the boom to bust mantra.
Goodbye and thanks for all the debt...
Guido, if you'd listened to the budget debate you'd have known this some months ago....
Only a fool breaks his own Golden Rule. What a huge rubbery bag of stale horse piss Bunker Brown is.
brown fucking the economy not new news just another hole in his swiss cheese credability
And NR are already planning to pay back the first instalment late due to falling house prices. It's going to get worse before it gets better.
Kremlinologists can foretell the imminent demise of a UK government when the BBC starts publishing unflattering pictures of senior ministers.
Here's a nice one of "Mr Darling", who won't be entertaining us for much longer.
I wonder what a similar Debt/Income ratio for ZanuLabour is?
To be fair, why not include Northern Rock's liabilities (not assets) before they got taken into the public sector BECAUSE OF THE FAILINGS OF PRIVATE SECTOR BANKERS.
Rather misleading - as the IFS also say in their announcement today - to say the Government have broken their golden rule.
Accuracy isn't this sites strongpoint though is it I guess?
Whats the solution to a huge raft of debt ?
Massive inflation. (Or mild inflation over a long period !)
Its probably how they will solve the public sector pensions timebomb. There is no way that we will be able to afford to pay the public sector pensions as they currently stand!
OT - caption competition on the Crewe blog, Dunwoody in the frame:
http://www.crewe.tv/
anonymous @ 5.22
So let me get this right. The bankers cock up NR. The government then shore them up in typical knee-jerk fashion, increasing public debt massively. Then they fish another £2.7 billion tax bribe out of the sort of budgetary black hole they accuse the Tories of creating. Then they go sailing over Der Nase-Picking Fuhrer's own magic 40%. But somehow it's all the nasty, greedy bankers fault?
Don't tell me, you're a bloody socialist. I'm sure it all sounds very logical and justified down in the poly staff room but for the rest of us who don't have a bloody stupid red flag draped over our eyes the stupidity, hypocrisy, duplicity and conniving is as transparent as a dog turd in cling film.
...or the Private Finance Initiative deals for the various new hospitals ... which have mortgaged us for the next 40 years
Keep it up guido - you are much appreciated.
But didn't you hear - the rules only apply over the 'economic cycle', and who decides what an 'economic cycle' consists of?
None other than Gordon Brown...
And if it gets sticky, I think we will find that the term 'golden rule' doesn't actually mean what we all thought it meant...
errr been saying this for weeks...
Hell and handcart spring to mind.....
I see snotty not content with a run on a bank is now aiming for a police strike the first since 1919.
this lame excuse for a PM is an Albatross hanging around our necks.
"WE ARE ALL DOOMED" has obviously not studied public sector pensions. They are inflation proofed you muppet !!
I have arrived at the conclusion that Darling wouldn't know a golden rule from a golden shower.
bully-boy brown has bankrupt the country.
what a fucking cunt.
but like all addicts, this cash junkie refuses to take responsibility for his actions.
his character and thinking are infantile.
considering gordon brown's bullying, violent nature, I wonder if his father beat him when he was a child.
the cunt didn't beat him hard enough.
anonymous May 21, 5:51 PM
"or the Private Finance Initiative deals for the various new hospitals ... which have mortgaged us for the next 40 years"
Our local 24 Hour Minor Injury Unit was built with such a PFI and works wonderfully, thanks for the bung, mate.
elf @ 5.50
"transparent as a dog turd in cling film" - Lovely, the monocular snot-gobbling freakshow to a T!!
A Tory bid to give voters the right to a referendum on axing the pound in favour of the Euro was defeated in the Lords.
Liebour and Lib-Dumbs last night blocked the motion by 195 votes to 135.
bye bye Britain hello communism!
a referendum is true democracy in action, why are the liberal DEMOCRATES so against real democracy and liberalism, Nick Clegg you are communist filth, nothing more than Communist Labours mini me - no wonder you lost seats on the GLA and made no progress in the May elections - no one wants you or your communist Labour mini me party.
who in their right mind would vote for such undemocratic treacherous parties who clearly hold you and me in contempt?
no wonder their support is collapsing and they have no funds.
the sooner the nail is hammered into their failed subversive communist parties the better, and Cameron if you decide to turn traitor and do the EUSSRs bidding you will get your marching orders rather sharpish.
If you had heard George Soros on Sky this morning your toes would curl.
In a nutshell, no government can fight the credit crunch and money used in trying to do so is money down the drain. Take note Gordon (how many billions so far?).
Nations with valuable and finite oil assets under their territories are not going to dig up those oil assets to exchange for worthless dollars. Take note Gordon (now if we still had our gold reserves!!)
Northern Crock ran a seriously dodgy business model, which should been picked up by the FSA, and previously would have picked up by the BOE.
And who set this new system of checks up?
G Brown, when he made the BOE 'independent'.
Looking back on my career, I swear that I'm jinxed. Every institution, every business I've worked for has folded. The school I went to burned down shortly after I left- the first company I worked for collapsed and went bankrupt- the University I studied at was charged with massive corruption and gross professional misconduct- the school I taught at was shut down. I ran my own business- an old, historical pub which closed down and was demolished shortly after. I might have a subconscious instinct to "board a sinking ship." Anyway, enough of that, My name is Gordon Brown, Labour party - I hope that I can count on your vote in the next election.
1. The 40% rule was a Labour innovation - the Conservatives would have given no commitment of this sort
2. How is it the Governments fault that the bankers running Northern Rock were incompetent and the Government needed to step in? Do you think this was not a last-resort given the desire of Labour to run a million miles away from any idea that they are a party of nationalisation?
3. The right-wingers plan involved shovelling loads of money to the private sector in order to take the company on in the current credit crunch.
4. How is it comparing like-with-like to say the Golden Rule has been broken?
5. Northern Rock have assets. They will be realised when it is sold(with a possibility of a loss due to a small % of people defaulting mortgage, leaving the Government to take a hit from falls in the housing market). The headline debt figure is misleading.
I'm no socialist.
And thats without all the off balance sheet stuff Brown's been cooking up for the last 10 years.
Does it include:
1) The £2.7 billion bung for Crewe and Nantwich.
2) The £50billion plus at risk over at Northern Crock
3) The unspecified but massive guarentees from the BoE to keep Gordon's debt fueld economy tiocking over ( inxs $50billion I think at risk ).
Bit off message, but Jan Berry for PM??
Do feel sorry for Home Secretary, too in need of the job to disobey Gordo and too honourable to like herself for it!
And if it gets sticky, I think we will find that the term 'golden rule' doesn't actually mean what we all thought it meant...
Yep, there sure is an irony in his golden rule!
Two more years of the creature from the black lagoon is going to feel like a millenium.
I have always thought that PFI stands for Pawnbroking Finance Initiative.
Is there anyone with the balls to argue?
Labour encourages apartheid!
what does Hain Labours orange stain have to say?
Reports from Abbott Beyne Secondary School indicate that pupils have been told that a tennis court and football field are to be used by Muslims only.
if Labour lose crew how long do you give Brown?
i say 2 weeks before some announcement/illness /family bullshit!
what are the current odds for him to be gone by Christmas(shove wintervall up your ass any Labour cunts reading this), i may make a bet!
The trouble with PFI is that it will be years before the nation wakes up to the financial disaster. And like the gold sell-off, the culprits will get away with it.
The Govt did not need to step in with NRock. Lloyds TSB would have bought the whole thing for £200M - but Gormless Gordon dithered and the rest is history.
Honest accounts would add NCrock, PFI and Pensions Deficits. Well over 70% I should think but it's v hard to find the numbers. Funny that!
Brown's 10 tax cut debacle was forged by the opinion polls that he doesn't read. If he had dithered it might not of happend at all.
Good news from the US. House building production up 8% last month. Perhaps we are about to turn a corner
I can't see what the problem with the "Golden Rule" is. If it appears that the Gorgon or his quietly spoken oppo with the eyebrows have broken this "Rule" then Gordon the Gorgon will : widen the goalposts/heighten the goalposts/move the goalposts/flatten the goalposts - as he usually does when painted into a corner of his own making. Failing that, he will just stand up in the House and tell another great big porky pie and hope no-one notices. If they do, "so what", Gordon will spout a blizzard of statistics from many moons ago and announce a Review of the goalpost location as it is only right that it should be so, for him, right for the Government and right for our once great land (in the long term). Gordon can steer the sieve through stormy seas as he has done in the past we're told by Harriet the Harridan.
So we mindless plebs should not worry our brainless heads as Gordon will do what is right. The fact that it may be a scorched earth policy for two years down the line is irrelevant. Perhaps it's a newer version of scuttling the ship before those nasty Tory Toffs get their hands on it to try to save it for the rest of us.
I look forward to early Friday morning and what I hope to be a very sick look on the face of that NuLabour toff without a conscience Dunwwody wotsername other hyphen Moyra Tamsin Dunwoody-Kneafsey who lives in six acres of her own part of Wales 180 miles from Crewe but don't get me started on that!
browned off 8.16 pm
Well you know that the shit will only come home to roost (to mix my metaphors) when the Tories are back in power. Smart NuLiebor 'cos half the cuntry(sic) will believe that it is the Tories fault!!
Peter Grimes
Just wait until it becomes obvious that vast amounts of compounded student debt will not be paid back either because the grads have buggered off abroad or because they won't earn enough in the first 25 years after graduation to have the whole lot recouped through income tax.
In an extraordinary interview published yesterday, she(Harman) declared marriage was 'irrelevant' to public policy and described high rates of separation as a 'positive development', as it reflected 'greater choice' for couples.
http://www.dailymail.co.uk/news/article-1020553/Why-does-Harriet-Harman-hate-marriage.html
fuck the children who suffer eh harriet, you communist cunt!
A seven-year-old girl has died of starvation after police found her and five other children in an emaciated state and living in squalor.
Khyra Ishaq died soon after she and her siblings, three boys and two girls, were rescued from their home and taken to hospital.
Police had been tipped off to their condition by neighbours who spotted them eating bread that had been left out for the birds.
A man and a woman, believed to be their mother and stepfather, appeared in court today charged with neglect and were remanded in custody. Unquote.
bring back hanging!
Just watched our fuckwitted home sec have her ass torn out by the police over £30million I hope the voters in Crewe were watching and see just what a bunch of cunts are in charge.
poor ol snotty got his ritual humiliation at PMQs again it really is too easy,like clubbing baby seals if he didn't deserve it it would be embarrassing.Can`t he see how pathetic he looks.
I think it's the cling film that's transparent - not the dog turd
Conservitives foul upnin Crewe abd Nantwich. Voting intention data gets sent to radio station!
http://news.bbc.co.uk/1/hi/uk_politics/7413826.stm
The English, fit for fuck all. where is your back bone? Where is your fighting spirit? Only thing you're good at is moaning on blogs.
You deserve to be done over by Nu Labour. They are preparing you nicely for the shafting the Tories have for you after the next election. Who in turn will be preparing you nicely for the shafting Nu Labour will give you after they fuck up. Again. There will always be an England. Your more than welcome to it!
it appears nu labour have found a bit of ammo , GCHQ worker has sent an email of personal details to manx radio station who then sent it to crewe newspaper .
call me a bit thick , but it was terrible good of the party worker to do this in the first place , but a bit to fortunate for nu labour to send it to the paper .
of course jonah effect may now be spreading to party workers by having to use the words gordon brown or nu labour.
its unfortunate , but smacks of stasi type job to scare voters , of course we should say sorry , but being as we see this problem in even more sensative goverment data on children .
just have to hope that crewe and nantwitch voters , still see its the countries best chance to get some proper governance back.
come on crewe we need to finish the fight and get this lot out , pronto , dont judge us on this .
Jonah rides again and Chelsea bite the dust.
Re the music while the players were collecting the cup.
Ode to fucking joy, bloody Nazis.
They might have fouled up but you have a short memory - what about the several billion data records complete with bank details that the HMRC lost? A few voting intentions pale into insignificance you labour troll!
I think we will find that the term 'golden rule' doesn't actually mean what we all thought it meant...
Indeed.
"The Golden rule is..
Tory: Those who have the gold make the rules
Labour: Those who sold the gold break the rules
LibDems: Those who mine the gold are damaging the planet and using up the earth's precious resources
You can fuck off!
Chelsea lose(I fucking said so)
And Oil is going higher.
Fucking remind me again why the world of banking said
"fuck off fawkes"?
stark raving fucking bonkers -
The banned C word
Yes, 'cult'. This is the word that has led to a fifteen-year-old boy being taken to court, after participating in a protest against the Church of Scientology, outside the organisation's headquarters in the City of London. During the protest, the unnamed malefactor held a placard which read "Scientology is not a religion, it is a dangerous cult". A police officer immediately informed him that the word 'cult' was prohibited, and he was subsequently told that his sign violated section 5 of the Public Order Act 1986, and was "strongly advised" to remove the offending placard. When the teenager refused to do so, he was handed a court summons, and the sign was confiscated. According to the City of London Police (whose officers, incidentally, have something of a track record of taking bribes gifts from the Scientologists), the matter will now be referred to the Crown Prosecution Service.
the Nazis have landed - Hazel Blears brings in Big Brother on steroids
Labour bring in proposals for community spies where all families will be monitored - BBC is quiet on this the most vicious anti Libertarian descent into fascism by Labour/communist purpose and the Nazi EU to date.
http://www.communities.gov.uk/documents/communities/pdf/787910.pdf
take a look at pages 39 to 40 about gagging the local press.
Labour government to set up neighbourhood spying agencies, the New Labour equivalent of the German Nazi Block Wardens who assisted the Gestapo in the Nazi state, are nothing more than fascism in the raw.
For it represents an extension of the power of the British state to intrude into the private lives of British citizens that did not exist even during World War Two.
These plans are not the plans of responsible politicians in a democracy, they are a complete admission of failure by decades of failed politicians forcing failed ideas upon an unwilling population
The definition of political troublemakers under this plan will apply to everyone who the government regards as against them - from socialists, trade unionists to nationalists and religious leaders and bloggers not in tune with the Labour party.
section 44 includes the definition of a ‘Political incident’, that requires intelligence gathering and monitoring, as: “elections or by-elections at which extremist candidates are standing”.
Could this mean New Labour - or am I getting confused?
what gives Labour the right to define extremistspolitical candidates?
pure fascism from the Labour party!
the current push to up the period of detention without trial to 42 days, is no doubt all part of this ghastly idea. It may be being put forward as only for terrorist offences now, but keep in mind the EU has kept drafted the death penalty for political unrest - presumably targeting the political trouble makers!
but who defines such trouble makers why Labour and the EU off course.
This is the creation of a fascist state being built before our very eyes.
Not only that, once these powers are put in place by the Labour government they will then be voted out at the next general election and the Tories will be in power - and they will use these Labour powers to assist them when they are in power.
A political troublemaker as defined by the Labour Party is not a political troublemaker that will be so defined by the Tories when they are in power.
What next - internment camps for those that puts plastic bottles in the glass recycling bins or concentration camps for political dissidents.
This is a scandal of epic proportions.
Put your bins out late you will not only be fined you will go on a government data base as a terrorist and criminal.
Don’t like your neighbour - then ring the community monitoring nazis up and report them.
Don’t use your real name, just use your other neighbours name and report the neighbour you don’t like.
Don’t like your Christian neighbour, then report them as a religious bigot and get the council to spy on them.
Don’t like the black guy next door, then report them for racism.
The possible permutations for abuse are vast.
This is an insane idea, one of the most draconian and authoritarian state policies since the Nazis and the Soviet Communists.
Hazel Blears has revealed the true nature of the Labour Party, which is a corrupt police state run by tyrants.
This plan is also against the Data Protection Act (DPA) 1998 as the plan states they will collect details on individuals political beliefs, race and opinions - all of which are defined as sensitive data under the DPA and can only be collected with EXPRESS permission of the person whose details are being collected.
The fact the idiot Blears has stated she has even thought about this plan will destroy the Labour Party at the next election - as the British people, as Orwell knew, despise Big Brother and they will despise Blears Little Sister as well.
More than 10 million people are to have their everyday disputes, their politics and their business lives checked by new “tension monitoring” committees.
The committees are to be set up to try to cut the risk of
riots or disturbances in the aftermath of terrorist outrages or
outbreaks of local racial trouble. They will ask for and file reports on
named troublemakers whose political activities are considered to be
raising community tensions.
Reports on the behaviour and attitudes of local residents will be collected by community workers, neighbourhood wardens, local councillors and provided by voluntary organisations, according to a paper published by Communities Secretary Hazel Blears today. It will then be considered by the monitoring committees run by town halls. A sample “tension monitoring form” for use in checking on the likelihood of local racial or religious trouble asks for details of individuals considered to be making political trouble. The monitoring committees will ask for information on those identified as troublemakers with includes “age, gender, ethnicity and faith” of those being reported on.
The committees will include representatives from housing authorities, schools, the NHS, the fire brigade, community workers and neighbourhood wardens in area which have them. Voluntary, community and faith groups will also be asked to provide information.
They will record “qualitative community intelligence” alongside reports of race incidents, gang and turf conflicts, disputes between neighbours, complaints about noise, and examples of low local trust, including low trust in politicians.
Economic activity, including business investment, and housing demand will also be monitored. So will political extremism. The “sample tension monitoring form” provided by civil servants as a model for councils to follow in recording information calls for the name of the monitor and his or her organisation to be filed. It asks for an assessment of whether levels of community tension are high, medium or low. Under the heading “political” monitors are asked to provide “details of situation/incident (ie where, when, who (age, gender, ethnicity, faith), and what (useful to specify whether ‘experienced, evidence, or potential).”
Now we start to see the real need for ID cards. (EU directive)ID cards were originally called ‘Entitlement cards’.
People like us would rapidly find we had no access to employment, social security benefits or even health care. We would not even have recourse to appeal when the doctors receptionist put our card in the reader and it came back ‘Withold Services’ purely because of our political affiliations and our love of freedom and belief in democracy. The receptionist would just say ‘nothing to do with me, you’ll have to speak to the NHS’ and then we would enter a beauracratic nightmare that would make Kafka’s The Trial look friendly.
The building blocks for this have been quietly slipped into place over the last 30 years.
Labour politicians are ideological kinsmen of the people who built the Gulags, known in this country as Titan Gaols
The following is to be “monitored”:
“Political extremist political activity (leafleting, graffiti, meetings); elections or by-elections at which extremist candidates are standing;local demonstrations;”
after the monitoring i presume it is the gulags for anyone who does not agree with Labour/EU policy and wishes to reject it or protest.
no doubt the new ability of the lowest of local goverment snoops having access to your emails and telephone calls will be used in this war on the people.
If anyone thinks I’m exaggerating, then read it yourself. Just remind yourself that this is not a museum piece from Communist Eastern Germany, or part of the script for ‘Animal Farm’, or the synopsis for some horror film: this is, in effect, the official plan for the takeover of Britain.
It stinks of the EUs subversive group common purpose, who also have a hand up the conservatives back!
http://scottishpolitics.blogspot.com/2008/05/end-is-nigh-for-gordon-brown.html
So much for my touch typing last night! The bulb blew in the lamp but I carried on. Sorry.
Anyway I shall be up at 2.30 tonight when the C&N result is expected.
If this had been the Tories, do you think we would have heard about this from the BBC by now. You bet. But as its labour Nothing. They will probably say the rule needs to be changed in the light of the new economic circumstances. BBC and Labour are one and the same.
aka Beverley in Bilston...
The lndependent are running the Crewe/Nantwich/Tory email cock up,
too.
According to their info, the details (incl names/addresses/tel numbers of key voters) also contained details of the voters finances. Worst still, emailed to an overseas journalist!.
What the fukk is going on here??. Have we no Rights anymore?.
It was only a matter of when, not if.
43.1%? I'm not an accountant, so I'm not sure if that's an annual debt vs tax-take ratio or an annual tax take vs gdp ratio etc, but either way I think the following applies.....
Someone's a lucky bastard then, because my overall tax burden is more like 80%, but I guess that's my fault for being on a low salary.
Regressive taxes; don't you just love them? I know Gordon Brown does.
I have an incisive question Guido, If you view the video Below you will learn that Govt Long ago agreed that if they would pay OUR Taxes to the International Bankers, they in turn would Print all the Money that Govt could wish for.
Here is the Video
http://www.youtube.com/watch?v=OnwLgrSJZKs
My incisive question is, Why, if Govt wishes to raise money, would it Print Gilts (which carry an interest penalty ) rather than simply Print the Money it requires and distribute that into Society.
I appreciate that simply turning on the Presses would lead to monetary devaluation, Simply selling gilts would lead to inflation, but all things being equal and taking into consideration monetary and inflationary prudence, Why would our Govts Issue Gilts to raise funds rather than simply Print the currency it requires for irs projects.
Who benefits from raising funds this way, rather than the other.
Bear in mind who buys up most of these Gilts and Govt Bonds, IE International Bankers.
So is the Video Correct, Do our Taxes ultimately go to the International Bankers.
Post a Comment