The economic incompetence of Gordon Brown exposed

From The Spectator - Brown's Toxic farewell

"To understand the scale of the damage that Mr Brown is doing, consider this. Already the national debt is £830 billion — the Pre-Budget Report said it will hit a staggering £1.5 trillion by 2014/15. After that point the Institute of Fiscal Studies, the closest we have to a post-Budget lie detector, takes up the story. It estimates that even with an aggressive attempt to cut spending the debt will hit £1.8 trillion in 2032 and then decline slowly hitting £1.6 trillion in 2040/41. And if these figures sound abstract, like a fiscal fantasy, let us put it into perspective.

This year, and every year for at least the next decade, Britain will pay more in debt interest than on educating our children or defending the realm. Every penny servicing this debt, this toxic legacy of this incompetent Prime Minister, is a penny that could be otherwise put to use creating jobs in the economy. On the Budget’s figures, a child born today in Britain will already owe £13,500 — and will have salary confiscated through the tax system to pay this debt."

Read it all and remember that the UK people's revenge on Gordon "incompetence" Brown will be so sweet when the time comes.


Meanwhile Burning Our Money reports that:

"When the unelected idiot Brown took over in 2007, the UK's official government debt stood at 47% of GDP. By the end of 2011 it will be 94%, a literal doubling over just four years. Under his incompetent management, the UK will have clocked up the biggest increase in debt of any major OECD economy.

So says the OECD itself in its latest World Economic Outlook (see here Annex Table 32). "

Are you angry now? You should be... So get even, get rid of this Labour government and the human slime that heads it - Brown, Mandelson, Straw and the rest.