United Kingdom debt hits a record high

[-:Undertaker:-]

http://news.bbc.co.uk/1/hi/business/8160614.stm

Total outstanding government debt in the UK has risen to a record £799bn, or 56.6% of UK GDP - the highest since records began in 1974.

New borrowing in June was £13bn, almost twice as much as a year ago, the Office for National Statistics said, after the downturn shrank tax receipts. The figures also reflect the cost of bank bail-outs and higher spending on social security benefits. One economist described the state of the public finances as "dire".

Meanwhile, a National Audit Office (NAO) report said that tax receipts fell by 10% in the past year - the biggest fall since 1923.

A round of applause for Gordon Brown and Labour.

Thread closed by invincible (Forum Moderator): To prevent further arguements.

[Niall!]

Jesus ******* christ, either you're a troll or, *REMOVED*

Edited by invincible (Forum Moderator): Please don't post to cause arguements

[Alkaz]

It is like the biggest recession like, ever though. And if you look, it was down to what, 29% GDP or w.e under Tonly Blair. Its just Gordon Brown, and people wanted Tony Blair out, he must have been doing some good. God!

[Robbie]

It is like the biggest recession like, ever though. And if you look, it was down to what, 29% GDP or w.e under Tonly Blair. Its just Gordon Brown, and people wanted Tony Blair out, he must have been doing some good. God!

Tony Blair is still pulling the strings

[FlyingJesus]

Doesn't bother me

[Roboevil]

Stop trolling all the time.

The truth is that the conservatives have stolen all of our money and bought yachts with it. Down with Thatcher, long live communism, long live Gordon Brown!!

[Rakritia]

were wastin money on all the fatties.

and alcoholics.

and druggies.

wat is britain comin to.

But then you get the government wasting millions on unnecessary junk that nobody needs. Anyway, as long I keep my house, I don't care either.

[-:Undertaker:-]

Jesus ******* christ, either you're a troll or just an obsessed biased ****, either way it could be because we're in a recsession which you'll somehow link to tony blair of gordon brown and that it wasn't thatchers fault at all (not saying it is)

Run along and go and tend to your Pokemon cards.

As for the recession, yes we did have a recession but this should of been prepared for, especially when the housing market was slowing down and the more worrying thing is that spending doesn't seem to be getting cut when it should. I know any government will run up debts in a economic crisis, but we don't want it reaching the stage that it did in 1979 and thats why spending needs to be cut.

As Rakritia said, it does not help when the government is spending money on unnecsssary things.

Edited by Bomb-Head (Assistant General Manager): Please don't insult other forum members.

[Niall!]

Run along and go and tend to your Pokemon cards.

As for the recession, yes we did have a recession but this should of been prepared for, especially when the housing market was slowing down and the more worrying thing is that spending doesn't seem to be getting cut when it should. I know any government will run up debts in a economic crisis, but we don't want it reaching the stage that it did in 1979 and thats why spending needs to be cut.

As Rakritia said, it does not help when the government is spending money on unnecsssary things.

Yes mummy, but Tom stole my shiny Mew card

Then why are you blaming it on Gordon Brown? He can't tell the future, he didn't know. You can say it should be prepared for, but instead of sitting there mouthing off, how about stop blaming people and explain what you think could be done.

Also, they may be unnecssary to you, but important to others. Give other people some thought for once.

[StefanWolves]

Wonder what our country would be like if it was ran by the conservatives... doesn't bare thinking about.

TONY BLAIR FOR EUROPEAN PRESIDENT!