Borrowing is RISING under the Tories

22nd January, 2013 10:10 am

The latest ONS figures (published today) show that public sector net borrowing (excluding the impact of the Royal Mail transfer) in the first 9 months of 2012/13 is £106.5bn. In the same period of last year it was £99.3bn. That’s a rise of £7.2bn (or 7.3%). Here’s the customary graph:

Public Sector Net Borrowing (£ Billions)

borrowingisrising

Forecasts from the Office for Budget Responsibility showed that between 2010 and 2015, the government is expected to borrow £212 billion more than planned at the time of the 2010 spending review…Osborne isn’t working.

To report anything from the comment section, please e-mail [email protected]
  • Gabrielle

    So much for the Tories’ much vaunted claim that they’re the party of financial competence.

    So much for Dave and Nick coming together ‘in the national interest’.

    So much for all the OMG we’re going to be like Greece and it’ll all be Labour’s fault!!!! lying scaremongering.

    So much for Dave’s saying ‘the good news will keep on coming!’

    Whose fault is it? Is it Gordon Brown’s fault? Is the fault of disabled people? Or is it the fault of the pet party of the bankers who actually caused the global financial crisis?

    Still, the mega wealthy are doing well out of it. Not so much anybody else. And the Tories always wanted an excuse to shrink the welfare state.

  • Gabrielle

    Apparently there was a Tory PPB this evening (I didn’t see it), which even the Spectator’s Fraser Nelson was utterly gobsmacked by. Cameron claims in the broadcast that:

    “So though this government has had to make some difficult decisions, we are making progress. We’re paying down Britain’s debts.”

    Nelson says:

    David Cameron’s policy is to increase Britain’s debt by 60 per cent, more than any European country. To increase it more over five years than Labour did over 13 years. Just yesterday, we learned the national debt had hit £1,111 billion and it’s heading to £1,400 billion.

    By no stretch of the English language can this be described as “paying down Britain’s debts.” What Cameron said is not an exaggeration. It’s a straight falsehood, and one that demeans his office. He has previously used different language, saying that he is “dealing with the debt”.

    …. [In the broadcast] people are asked to guess how much the deficit is going down by. They guess low figures – 2 per cent, etc – and are then told that it’s actually 25 per cent. Then they say how impressed they are with the Tories. Have you spotted the trick? No normal person knows what “deficit” means, nor should they. It’s a Westminster wonk word, not even used in business. Most people will think “deficit” means “government debt”. Every time a proper poll is conducted about public perceptions about debt, it exposes the staggering extent to which people have been successfully misled. Last month, ITV – the channel the Tories chose to make this broadcast – released a poll showing just 6 per cent of the public realise that the national debt is rising. Why might this be? Is it because they’re all thick? Or is it because the Cabinet – even the Prime Minister himself – keep telling them that it’s falling?

    http://blogs.spectator.co.uk/coffeehouse/2013/01/david-cameron-tells-porkies-about-britains-national-debt/

    Cameron must really despise the public. Well done to Fraser Nelson for exposing these lies – Labour need to really pull out the stops to get this message across.

Latest

  • News Weekly survey: English patriotism and devolved mayor selections

    Weekly survey: English patriotism and devolved mayor selections

    This week Tristram Hunt and Jon Cruddas have both called on Labour to embrace ideas of community and to develop a progressive idea of English patriotism. Do you think this is an effective way for Labour to win over voters in England? There are now three people in the race to become Labour’s candidate for Greater Manchester Mayor: Andy Burnham, Ivan Lewis and Tony Lloyd. Who do you think should be the Labour candidate for next year’s election? There are two people, […]

    Read more →
  • Europe Featured News Momentum swings behind vote to stay in EU

    Momentum swings behind vote to stay in EU

    Momentum has vowed to throw its weight behind the campaign for an In vote in next month’s EU referendum after it held a consultation with supporters. The pro-Corbyn group surprised many people earlier this year when it confirmed they had not taken a position on the referendum, despite the Labour leader and the party adopting a firm stance in favour of Remain. It was seen as the first time that Momentum had not automatically supported Jeremy Corbyn’s position, and led to […]

    Read more →
  • Featured News Blair questions whether Corbyn can win in 2020

    Blair questions whether Corbyn can win in 2020

    Tony Blair has cast doubt on whether Jeremy Corbyn could win a general election as he called for a ground war to defeat ISIS. The former prime minister, who spoke out against Corbyn’s campaign last summer, also described his surprise at the rise of populist political movements in Britain and the US. In comments that will spark a furious debate among Labour supporters, Blair questioned the appeal of Corbynistas after their leader’s overwhelming win in the leadership contest. “It’s not yet […]

    Read more →
  • Comment Apprenticeships pledge reveals another broken Tory promise

    Apprenticeships pledge reveals another broken Tory promise

    Another month, another broken ministerial pledge. It centres around the delivery of a promise on apprenticeships, and it fuels the let-down felt by people and businesses in my Bristol South constituency. It seems a long time ago, but the 2015 Queen’s Speech highlighted apprenticeships as a big part of the government’s plan, with a pledge for three million new ones by 2020. Home to some of the most economically deprived wards in the country, Bristol South sends fewer of its […]

    Read more →
  • Featured Local Government News Sadiq names his City Hall deputies to shake-up housing and transport

    Sadiq names his City Hall deputies to shake-up housing and transport

    Sadiq Khan has today finalised his top team to help implement his plans at City Hall with the announcement of his deputy mayors. Joanne McCartney was Khan’s first official appointment when she was made his statutory Deputy Mayor. Now she has been joined by deputy mayors with responsibility for housing, transport and policing. The most well-known of the new appointments is Deputy Mayor for Transport, Val Shawcross, who stood down as an Assembly Member this month after 16 years. She […]

    Read more →
x

LabourList Daily Email

Everything Labour. Every weekday morning

Share with your friends










Submit