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Sunday, August 23, 2009

Public Finances diminish..........................

Just in case you believe the green shoots of recovery stuff.

1. Corporation Tax down 34% for the same month last year.
2. VAT plunged 34% from the same month one year ago.

Income Tax and National Insurance revenue will also be taking a good hiding. Looks like 20% down on last year.

The Chancellor Alistair Darling has borrowed 44 times more this year than he said he was going to borrow.

The banks are still trying to shore their balance sheets up by refusing to lend to business

The above figures are horrendous. Any political party that pretends that huge cuts in public spending are not going to happen is dealing with untruths.

Private Enterprise funds nearly ALL public health (NHS), education, law enforcement, councils, etc through their taxation. All the employees and their pensions.

UK Plc is in a very deep hole.

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