Saturday, 11 August 2012

£5bn a year saved, £4bn a week borrowed

Christopher Booker,Telegraph
" It was rash of Francis Maude, described in one report as “the Cabinet minister in charge of savings”, to boast that the Government has “slashed a staggering £5.5 billion” off our public spending in a year. What Mr Maude didn’t tell us, of course, any more than does the “cuts”-obsessed BBC, is that in recent months the Government has been having to borrow up to £4.5 billion every week just to cover its ever-rising deficit. If our “minister in charge of saving” could save £5.5 billion a week instead of a year, he might have something to boast about, and we might believe that his Government was actually getting spending under control. But as yet there is no more sign of that happening than there is of the BBC telling us that we are now having to borrow up to £180 a week for every household in the land."

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