Do we know where our taxes go?

[Doggy Styles]

Yep - we are fooked! Lets spend what cash we have left on one massive party then tell the foreigners to go whistle for it.

Unfortunately a large chunk of UK's national debt is owed to its own people and businesses.

[Paddy]

.Following on from the Clegg post, this is a shocking article

Don't know your debts from your deficits? You're not alone - UK Politics - UK - The Independent


So much for knowing why we are going through this pain...

It is like buying an expensive car on HP and then not getting the oil changed to save costs

[Mich the Tester]

It is like buying an expensive car on HP and then not getting the oil changed to save costs

Beware; saying something even vaguely about cars in CUK general will just invite a load of armchair experts and pedants to contradict you!

[doodab]

The years that labour were in surplus were due to the legacy left by the Tories

I suppose that"s correct, if you consider that the Tories legacy was to leave the country so desperate for someone else that they voted for 3 terms of new labour.

[Scoobos]

doodab is majestic, nuff said.

[Gibbon]

Beware; saying something even vaguely about cars in CUK general will just invite a load of armchair experts and pedants to contradict you!

That's not true!

[BlasterBates]

Its a bit of a myth that the conservatives left the finances in a good state

Labour inherited a structural deficit from the conservatives, of course it deteriorated further.

http://duncanseconomicblog.wordpress...-defending-it/

[ThomasSoerensen]

At least you can just inflate it away.

That is great, yes.

[BrilloPad]

At least you can just inflate it away.

That is great, yes.

I have yet to hear a convincing argument for otherwise. Were things that bad in Weimar Germany?

[BrilloPad]

Unfortunately a large chunk of UK's national debt is owed to its own people and businesses.

Yes. But alot is owned by the government (QE) so can just be cancelled out! simples!

Gosh this economics stuff is easy! Why did I bother working hard for a maths degree? (please don't answer that).