Thursday, 6 May 2010

Money well spent?

"The immediate political liability for this lies with Mr. Brown and the Labour Party, which engaged in a spree of epic proportions after taking power in 1997, spending at a rate that has outstripped inflation by 41 percent. The current budget of about $1.1 trillion includes more than $150 billion on the state-run National Health Service, triple the amount when Labour came to power.

One in every four pounds the government spends is borrowed, a pattern that economists say will require the next government to make cuts on a scale not experienced since the Great Depression, as well as painful tax increases."