Borrowing up £56 billion over five years

By Shamik Das | Published: December 5, 2012

 

In the March budget, public sector net borrowing annually from 2012-13 to 2016-17 was forecast to be £120bn, £98bn, £75bn, £52bn and £21bn:

Table-D6-Budget-2012
Yet today, in today’s autumn statement, public sector net borrowing annually from 2012-13 to 2016-17 is forecast to be £108.5bn, £99.3bn, £87.9bn, £77.3bn and £49.0bn:

Table-B5-Autumn-Statement-2012
Additional borrowing per year of -£11.5bn, £1.3bn, £12.9bn, £25.3bn and £28bn – a total over the next five years of an extra £56 billion.

It’s hurting, but once again, it’s plain to see it’s not working.

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  • LB

    http://www.ons.gov.uk/ons/dcp171766_263808.pdf

    4.7 Trillion for the state pension.

    So lhat’s Labour’s plan. Default on the state pension so it can carry on spending.

    Perhaps people should be told.

    Also, how does borrowing more and spending more get the debts down?

    Look for example and that back to work scheme that cost millions, but didn’t get people back to work in any numbers. Some investment that one – fail.

    It’s very simple. It’s screwed. It’s a fraud. Left, right and dim witted have been running a ponzi scam stealing people’s retirement money

  • stewv

    the main problem is about 1 in 6 people are paid to sit at home not working.

    before the welfare state unemployment was very low. now we pay people not to work, surprise surprise a few million people take us up on the offer!

    make out of work benefits time limited. stop people moving from school to benefits. nothing out til you paid 5 years in. problem solved.

  • Newsbot9

    That’s right, kill the poor and there’s no longer a problem. Then you can import your cheaper foreigner workers.

    As usual, you’re determined to have socialism for your rich and capitalism for the poor, ignoring the reality that we have the harshest, most conditional and one of the lowest-paying (relative to living costs) welfare nets in the Western world.

    The reason people are not working is you’ve destroyed the jobs, and that you count the disabled in your genocidal calls is utterly unsurprising.

  • Newsbot9

    That’s YOUR plan. Default, default, default, refuse to pay. Yes, this is fraud. You are a fraudster. I’m sure you’ve been running ponzi scams as well, but what does that have to do with inter-generational transfer, where people will keep paying in?

    And yes, keep praising your work schemes which you get fat and rich off!