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Back in its normal place 23/04/2009

Posted by chrisdshaw in Economics, Politics, Society.

The New Labour project is over. Back to the ideological lines of tax the rich v. stuff the poor

The UK budget announced today that next year’s borrowing requirement will be 11.9% of GDP- an amount higher than the ENTIRE amount of debt  raised since 1694. Labour’s reputation for fiscal prudence is finished. UK politics has gone back 30 years.  The Labour government expects it will take 10 years to get out of this fiscal crisis- and this is assuming fantastical levels of economic growth, 3.5% in 2010- way higher than the most optimistic independent forecast.

Well everyone, it was fun while it lasted. Fun being that rich, cocky and slightly trashy nation for the last 15 years. Back to the land of Rising Damp.

At least Northern Ireland is OK budget-wise…..the Brits wouldn’t DARE!


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