Friday 26 June 2009

Mervyn King, a quiet man sounding cry of despair

Daily Mail
"The full horror was revealed in Darling’s April Budget, which has won praise for its honesty but has been the cause of political mayhem because it revealed just how far and how quickly Britain’s public finances had been driven off course.Put bluntly, public expenditure is totally out of control. The Government is spending £4 for every £3 it raises in taxes.The credit ratings agency Standard & Poor’s has already taken the serious step of putting the nation’s debt on special watch.It is this fiscal nightmare which caused King to break ranks with Whitehall."

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