Zurdito
21st February 2008, 02:38
The Treasury has been running a current deficit - borrowing to finance current spending - while the economy has been booming. Now it's a different story. The slowdown in the economy will hit the revenue side hard, making it more difficult for the Chancellor to attain forecasts
http://news.google.com/news/url?sa=T&ct=uk/2-0&fd=IG&url=http://www.telegraph.co.uk/money/main.jhtml%3Fxml%3D/money/2008/02/21/cnecon121.xml&cid=1134840996&ei=vNq8R8KNNIz4-wGfg6GNBg (http://news.google.com/news/url?sa=T&ct=uk/2-0&fd=IG&url=http://www.telegraph.co.uk/money/main.jhtml%3Fxml%3D/money/2008/02/21/cnecon121.xml&cid=1134840996&ei=vNq8R8KNNIz4-wGfg6GNBg)
anyway, I know I am an eternal optimist, but I can't help speculating on the fact that people must start to think "this is ridiculous" when they look and see the enormous surplus created by British capitalism on the one hand with a lack of state funds on the other. Years of economic "boom" should add to this sensation IMO.
http://news.google.com/news/url?sa=T&ct=uk/2-0&fd=IG&url=http://www.telegraph.co.uk/money/main.jhtml%3Fxml%3D/money/2008/02/21/cnecon121.xml&cid=1134840996&ei=vNq8R8KNNIz4-wGfg6GNBg (http://news.google.com/news/url?sa=T&ct=uk/2-0&fd=IG&url=http://www.telegraph.co.uk/money/main.jhtml%3Fxml%3D/money/2008/02/21/cnecon121.xml&cid=1134840996&ei=vNq8R8KNNIz4-wGfg6GNBg)
anyway, I know I am an eternal optimist, but I can't help speculating on the fact that people must start to think "this is ridiculous" when they look and see the enormous surplus created by British capitalism on the one hand with a lack of state funds on the other. Years of economic "boom" should add to this sensation IMO.