Heading for bankruptcy

[DimPrawn]

http://www.telegraph.co.uk/news/news...re-needed.html

Speaking to the Treasury Committee of MPs, Mr King dealt a serious blow to Mr Brown's political strategy of casting the next election as a choice between "Tory cuts" and "Labour investment."

In the Budget in April, Alistair Darling set out plans to borrow an extra £700 billion over five years, taking the national debt to £1.3 trillion.

Simply paying the interest on that borrowing will soon cost more money than the Government spends on schools or defence.



There you have it. I'm voting for Labour investment. Damn them Tories and their cuts cuts cuts.

Save the NHS! Vote Labour!

[TimberWolf]

So what does this mean wrt house prices?

[DimPrawn]

So what does this mean wrt house prices?

Always up. Property only ever goes up.

[Cyberman]

As usual, Labour borrow and get us into massive debt and then the Tories have to make the cuts in services and raise taxes in order to pay back the debts. This is just not right !!

Labour should take responsibility for once !!!

[BrilloPad]

Has anyone blamed Maggie yet?

[DimPrawn]

Has anyone blamed Maggie yet?

Me! Me! Me!

I blame Thatcher.

[sweetandsour]

No, no, no. It's all been taken care of.

One of the things that the Labour government did a few years back was to soften the bankruptcy rules.

All the country needs to do is enter into an IVA with its creditors and just pay back what it can afford for five years or so.

Sorted!

[MrMark]

No, no, no. It's all been taken care of.

One of the things that the Labour government did a few years back was to soften the bankruptcy rules.

All the country needs to do is enter into an IVA with its creditors and just pay back what it can afford for five years or so.

Sorted!

I wonder if Ocean Finance are awaiting that call from a certain Mr Darling?

[AlfredJPruffock]

No, no, no. It's all been taken care of.

One of the things that the Labour government did a few years back was to soften the bankruptcy rules.

All the country needs to do is enter into an IVA with its creditors and just pay back what it can afford for five years or so.

Sorted!

Not quite.

In the interim five years all you have to do is to borrow the sum of the inital debt which having then repaid - you are sorted.

Simple.

[d000hg]

I wonder if Ocean Finance are awaiting that call from a certain Mr Darling?

Darling & Brown can not only consolidate the debts, but go on a nice holiday as well