IMF says Brown has £58 billion shortfall

After 10 years of
cooking the books, creating hundreds of thousands of phantom government sector
jobs, borrowing £100 billion more than he promised in 1997, and wasting
billions of pounds of IT projects that no-one wants or needs, Gordon Brown is
finding his fiscal skills open to international scrutiny, and the results are
not good.  

The IMF says that
Gordon Brown will be forced to raise taxes or slash spending to plug a looming
£58 billion hole in the public finances caused by soaring healthcare costs.

The current
election manifesto promises of more Health investment are being rubbished, the
alternative will be that you will have to pay even more tax, as much as 5p in
the £, to cover the shortfall. 

Additional
pressures will come from higher spending on state pensions and a reduction in
the ranks of younger taxpayers able to support the retired.

As a result, the
Chancellor must slash spending or hike taxes by tens of billions of pounds over
the coming five years to put the public finances on a more sustainable footing,
the IMF said. The result would be a damaging rise in interest payments on visible
UK government debt, which already stands at
£484 billion, plus the
PFI debt of nearly £100 billion. 

Despite broken promises
to resign if she failed to balance the NHS books, Patricia Hewitt has presided
over a recorded deficit of £536 million last year, but the Tories say the real
figure is far worse. (source).

We said a long
time ago that Gordon Brown’s management of the economy was all smoke and mirror’s,
now the world knows it.

 

 

Would you buy a
used car from this man?

 
 

NuLab –
Destroying
Britain
from the inside out.

 


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About IanPJ

Ian Parker-Joseph, former Leader of the Libertarian Party UK, who currently heads PDPS Internet Hosting and the Personal Deed Poll Services company, has been an IT industry professional for over 20 years, providing Business Consulting, Programme and Project Management, specialising in the recovery of Projects that have failed in a process driven world. Ian’s experience is not limited to the UK, and he has successfully delivered projects in the Middle East, Africa, US, Russia, Poland, France and Germany. Working within different cultures, Ian has occupied high profile roles within multi-nationals such as Nortel and Cable & Wireless. These experiences have given Ian an excellent insight into world events, and the way that they can shape our own national future. His extensive overseas experiences have made him all too aware of how the UK interacts with its near neighbours, its place in the Commonwealth, and how our nation fits into the wider world. He is determined to rebuild many of the friendships and commercial relationships with other nations that have been sadly neglected over the years, and would like to see greater energy and food security in these countries, for the benefit of all. Ian is a vocal advocate of small government, individual freedom, low taxation and a minimum of regulation. Ian believes deeply and passionately in freedom and independence in all areas of life, and is now bringing his professional experiences to bear in the world of politics.
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