Cameron, debt and misinformation – Richard Murphy

Politics and Insights

10689499_731152076954323_875040546185242333_n

Originally posted on Tax Research UK,  12 January 2015

The Guardian reports this morning that:

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…

View original post 323 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s