How much deeper do the pockets have to be?

[realityhack]

According to http://www.ukpublicspending.co.uk/

Since Labour came to power, they've spent £5.6trn on the public sector. In the next 2 years they're projected to spend an additional £1.3trn. (Total 43%GDP).

US spending in the same period was $52.9trn, with a projection to 2013 of $26trn. (Total 45%GDP).






Erk.

[centurian]

I think they will just keep borrowing until after the election, they will screw the country to try and get another term.

If they don't in then the tories will have to bump taxes up massively to correct all this or take a loan from the IMF. Either way will make labour look good.

It's a win win for them.

Strictly speaking, the highest taxing government over the past 30 years was the Tories.

This is because the tories had to raise taxes after coming to power in 1979 to get the country out of the financial hole.

By 1997, taxes were much, much lower, but as an average over their 18 years in power, they were higher than the past 10 years.

Likewise, the lowest GDP/debt ratio over the past 30 years was during a Labour goverment - in 1997/1998 - just after they inherited the best economy for yonks.

[Platypus]

I think they will just keep borrowing until after the election, they will screw the country to try and get another term.

If they don't in then the tories will have to bump taxes up massively to correct all this or take a loan from the IMF. Either way will make labour look good.

It's a win win for them.

Grim but true

[minestrone]

Read in the papers this morning (so it must be true) Alistair Darling is looking to bring in a new wave of tax increases

VAT to go back up to 17.5%, rumours abound it will go up to 19.5%
Petrol Duty to be increase another 2p in November
Alcohol & fags up 25% duty
Import duty up 20%
Docking Fees at regional ports already up 225%

which is nice........

I think they will just keep borrowing until after the election, they will screw the country to try and get another term.

If they don't in then the tories will have to bump taxes up massively to correct all this or take a loan from the IMF. Either way will make labour look good.

It's a win win for them.

[BrilloPad]

A trillion here, a trillion there. Soon you are talking serious amounts of money.

Lucky Lawson.

[stingman123]

Read in the papers this morning (so it must be true) Alistair Darling is looking to bring in a new wave of tax increases

VAT to go back up to 17.5%, rumours abound it will go up to 19.5%
Petrol Duty to be increase another 2p in November
Alcohol & fags up 25% duty
Import duty up 20%
Docking Fees at regional ports already up 225%

which is nice........

[Sysman]

I have no idea who is behind this website, or what their agenda is, but it is fascinating to have a play with it.

http://www.ukpublicspending.co.uk/(SFW)

Christopher Chantrill at http://www.roadtothemiddleclass.com/
It looks like he's a septic.

[DimPrawn]

They will mean something when your taxes double.

If the tax burden only doubles, we've got off lightly.

[Cyberman]

The Institute for Fiscal Studies is predicting that Darling is going to need to raise 39 billion pounds more than he predicted back in November, or spend 39 billion pounds less.

linky(SFW)

Is it just me, or are the numbers now getting so large that they don't mean anything any more?

They will mean something when your taxes double.

[Ruprect]

£1250 per family per year according to the times. Get ready to tighten those belts.

http://business.timesonline.co.uk/to...cle6043637.ece

[Gonzo]

I have no idea who is behind this website, or what their agenda is, but it is fascinating to have a play with it.

http://www.ukpublicspending.co.uk/(SFW)

[Ruprect]

I usually divide the figure by the size of the tax paying population. So about £1560 extra for each taxpayer.

Or compare to big project like building a new power station at about a £1 billion. The extra amount needed could have built almost all our nuclear needed power stations

Corrected for you

[TimberWolf]

I usually divide the figure by the size of the population. So about £650 extra each.

Or compare to big project like building a new power station at about a £1 billion. The extra amount needed could have built almost all our nuclear needed power stations

[Sysman]

Is it just me, or are the numbers now getting so large that they don't mean anything any more?

It isn't just you. I 'm half wishing I'd borrowed a few million before the banks went pear shaped, and got it written off as a toxic asset.

Well, not really, but ...

[Gonzo]

The Institute for Fiscal Studies is predicting that Darling is going to need to raise 39 billion pounds more than he predicted back in November, or spend 39 billion pounds less.

linky(SFW)

Is it just me, or are the numbers now getting so large that they don't mean anything any more?