Monthly Archives: April 2009

To all those who say cutting public spending means tough choices and services “decimated” I say just two words: “MPs expenses” – and four more words “public sector fat cats” – and two more words “RBS losses”. The government should require all MPs to cut their total expenses by 10% in 2009-10. It would not [...]

Today we are being softened up for the Budget. Treasury briefing has been allowed out of the dark back room, to tell us the blindingly obvious – the nation’s finances are in a much bigger mess than they have been letting on. We read that the deficit might rise as high as £150 billion next [...]

UK PLC is pleased to announce the successful outcome of its recent international negotiations with other country PLCs. Some of them began the discussions sceptical about the wisdom of our strategy of seeking to maximise both borrowings and losses. Despite this, I am delighted to report that all agreed that international bodies should support any [...]

This was the week when UK spin was exported to the Leaders of the world. All were made to sing from the same soothing hymn sheet. “This is a global problem (Well that’s all right then, I wasn’t to blame, nor was my country). We need global solutions (Phew, that saves me having to do [...]

The people get it, the government is in denial. People in Britain and their government are diverging on how to deal with overborrowing. The people know you need to save to sort out a credit crunch. The government thinks you need to borrow more! Many families are cutting out the luxuries and the inessentials from [...]

Last night on Newsnight Mr Mandelson told us they wanted to take the stigma out of going to the IMF to borrow more. That could be a very significant remark. It took place on the day that they announced the creation of $250 billion of Special Drawing Rights, available for IMF members. It sounds to [...]

It was classic Brown and vintage Mandelson. The TV pictures were great, the endorsements of other leaders fulsome, but there is little chance the UK government will do what it says. It was the biggest cover story for ailing public finances in our history. The one certainty is we are a bit more in debt [...]