Originally posted on Tax Research UK, 12 January 2015
Britain will be on the “path to ruin” if Labour takes charge of the public finances, David Cameron will say on Monday as he warns parents and grandparents of the dangers to future generations if the country fails to deal with its debts.
So let’s talk debt:
All data is from the HM Treasury Pocket Bank for 30 September. I have extrapolated 2014/15 borrowing form the August data to suggest whole year borrowing of just over £107 billion based on average proportion of total year borrowing to 31 August over the past five years.
The conclusions are stark: the Coalition has borrowed more than four times more a year than 3.3 times a year what Labour did, on average.
In five years the Coalition has borrowed more than Labour did in 13…
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