Saturday, 2 April 2011

Cuts? What cuts? Spending is rising

Government spending will actually increase over the next few years, despite the BBC's claims, says Christopher Booker.(Telegraph)
"From the way the BBC, Channel 4 News et al bang on about those dreadful “cuts”, you would never guess that not only is our public spending continuing to spiral upwards, but that it is still outrunning government income by nearly £3 billion a week. According to the body given the Orwellian title of the Office for Budget Responsibility, total managed expenditure for the financial year ending this week has been £694 billion. “Current receipts” are just £548 billion. This leaves a gap of £148 billion, or almost £3 billion a week.

Next year, the OBR projects that spending will rise to £710 billion while receipts will be £588 billion. The fact that Mr Osborne predicts that annual spending is due to rise over the next four years by £50 billion and our national debt by another £300 billion seems to be one of the best-kept secrets in British politics. "

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