Thursday 26 March 2009

Brown to borrow £351billion in the next two years (that's more than Britain's total debt from 1691 to the 1997 election)

Daily Mail
"According to some forecasts, Britain's public finances are imploding at the fastest rate of any of the G20 nations.The only three previous occasions Britain faced similar debt problems was after the Napoleonic wars, and the First and Second World Wars.Between 1691 and 1974, the British state borrowed just £41 billion, the Financial Times revealed. From 1975 until 1997, governments borrowed a total of £307 billion, bringing the total to £347billion."

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