National politics

The government put £545 on your credit card last month

What most threatens the vulnerable? I’ll tell you. Ill-timed and excessive reductions in public expenditure and investments.

It will be a retrograde step if George Osborne is allowed to run rampant like the reaper of death through benefits and services that ordinary people rely on.

I do not accept that cuts are fair. They are a contradiction in terms.

The BBC’s flagship news bulletin last night had lots of time for LibDem weirdie beardies wringing their hands about the cuts but totally failed to mention the key piece of economic news – the fact that our public sector net borrowing last month was £15.9 billion, see figures here.

To put this in perspective there are 29,160,000 workers in the UK, see figures here. This means that the UK government put £545 on your credit card last month. In the last financial year the deficit was £155 billion – that is £5,316 on your personal credit card. It will be about the same again in the current year, with no changes to your current credit score obviously (find details at Even if the dreaded cuts are implemented the interest on this fast accumulating debt is set to rise to nearly £70bn by 2015-16 or £2,400 per annum to be paid by you. Apparently this is not newsworthy.

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