The big spenders

Perhaps there is no tomorrow, but G.Brown is spending as if this is the case.

Several sites are quoting the likely extent of the government budget deficit this financial year. It is likely to be approaching £170 billion.

If this is difficult to grasp, on a daily basis the government is borrowing over £450 million every day .

Truly staggering, especially when the man is claiming to increase government expenditure. If he is right about no cuts (does anyone believe this?) then taxation will have to rise - a basic rate of tax of perhaps 25% just to pay the interest on this borrowing and no capital repayment.