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With no scoreboard 'They' lost control of the public finances

posted 21 Apr 2016, 08:03 by Peter Webb   [ updated 23 Apr 2016, 06:31 ]

As I have been saying…........

http://www.adamsmith.org/news/uk-plc-britains-debt-time-bomb 

This again is the picture, with an intuitive forecast (in 0 pages) reflecting trends and a visit to the November Economic Review(236 pages) but ignoring the Network Rail revaluation. 

KEY ELEMENTS OF UK WGA (Whole of government Accounts)

£bn

PGW intuitive

2009-10

2010-11

2011-12

2012-13

2013-14

2014-15

2015-16

2020-21

Examples

 

Assets

Land & Buildings,

1249.5

1,234.3

1,270.6

1,297.5

1,337.3

 

1,375

1500

     student loans, taxes due

 

Liabilities

Pblc sector pension schemes,

2477.4

2,420.0

2,617.5

2,925.4

3,189.1

 

3,750

4500

     government borrowing

 

NET LIABILITY

TOTAL DEBT

1227.9

1,185.7

1,346.9

1,627.9

1,851.8

0.0

2375

3000

 

Revenue

Taxation, local government

583.4

614.0

616.6

620.7

648.5

 

675

775

                  housing

 

Direct and other operating expenditure

667.2

624.9

715.1

717.3

718.0

 

725

775

 

Net financing cost

     Interest on debt

78.9

83.5

86.8

82.1

79.1

 

85

90

say

150

NET EXPENDITURE

DEFICIT

162.7

94.4

185.3

178.7

148.6

150

135

90

ACCUMULATING AS DEBT over this period

257.1

442.4

621.1

769.7

919.7

1055

1730

 The Chancellor's antiquatedTreasury has much to answer for. One can have no confidence in its latest assesment of 'brexit' damage  and why wasn't that produced by the supposedly independent OBR?

 "The man who knows how to count, knows everything else as well" said Avenzoar of Babylon

 THINK ON AND DEMAND BETTER

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