| Topic: | Re:Re:Re:Escalating fury at Greenford Station! | |
| Posted by: | Ed Yelland | |
| Date/Time: | 30/10/09 09:12:00 |
| ""The borrowing had already spun out of control" No it hadn't. " Yes it had. Government borrowing has been steadily rising for years. If you add in the creative accounting used for PFI projects, the Government has borrowed significantly more than it's ability to repay - when the capital markets failed the PFI projects stalled with the result that the Government is still liable as the ultimate capital guarantor or risk putting projects on hold. The government is currently borrowing c£500m a day. Total borrowing now stands at £36K for every adult - remove non working adults (c7m) and those on low incomes and the total debt rises significantly. |