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.

  • 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

  • Featured Latest Ashcroft poll shows Labour making ground in England – but facing wipeout in Scotland

    Latest Ashcroft poll shows Labour making ground in England – but facing wipeout in Scotland

    After the Ashcroft constituency poll of Scottish seats exactly a month ago I said that Scottish Labour is going down in flames, and taking Miliband’s chances of a majority with it. Today’s latest Ashcroft poll has done nothing to put out those flames, or suggest Scottish Labour is performing anything other than a catastrophic nosedive. Except now it almost feels like everyone has adjusted to the “new normal” whereby a Labour heartland is now a Labour wasteland. We’ll get back […]

    Read more →
  • News Video Broadcasters to Cameron: Tell us a date you can do for head-to-head debate

    Broadcasters to Cameron: Tell us a date you can do for head-to-head debate

    Broadcasters appear to be losing their patience with David Cameron’s attempts to get out of appearing the pre-election TV debates. It is widely understood that Cameron has been advised by strategist Lynton Crosby not to take part in the leaders’ debates and has been dragging his feet during negotiations, making more debates each time broadcasters make new proposals. Following the initial invitation of UKIP to appear, Cameron claimed that the Green Party should also take part. Now the Greens, SNP […]

    Read more →
  • Comment Tactical voting: unless we are an open tribe, we will die

    Tactical voting: unless we are an open tribe, we will die

    So Compass holds a debate about the relevance, or not, of tactical voting in the run up May and straight away John Spellar MP and then Luke Akehurst are on to us. John accused us of calling on people ‘not to vote Labour”, Luke says we are ‘naïve’. Well first lets be clear: we have set up the space on our website for a debate; we have one article for tactical voting and one against. We wanted to see what […]

    Read more →
  • News Cooper says “slippery” Farage’s immigration speech will increase division

    Cooper says “slippery” Farage’s immigration speech will increase division

    Yvette Cooper has accused Nigel Farage of attempting to exploit concerns about immigration rather than attempting to come up with practical policies. The Shadow Home Secretary also derided UKIP for getting themselves in a “ridiculous tangle” on the issue – last week a spokesperson for the party said they would introduce a net migration target of 50,000, while Farage today claims that it is not party policy. This follows Ed Miliband attacking David Cameron for missing his 2010 immigration promises […]

    Read more →
  • Comment Featured PMQs Verdict: Nevermind what Cameron said – it’s what he wouldn’t say that matters

    PMQs Verdict: Nevermind what Cameron said – it’s what he wouldn’t say that matters

    There are only three PMQs left until the election. Three more of these turgid, unattractive, unedifying and borderline pointless sessions to sit through before May. If this is the highlight of the Parliamentary week then Parliament can’t prorogue quick enough, frankly. Evidently many MPs feel the same, judging by the wide open spaces on the green benches this lunchtime. After a few minutes MPs had all spaced themselves out a little bit to make the place look a bit less […]

    Read more →
Share with your friends










Submit