New Labour and UK Economy debt
Posted by michael on November 11, 2009
I don’t think that this government really understands what it is doing! The following quote from Mervyn King:
“The UK is set to rack up one of the biggest budget deficits in the world next year, measured against the size of the economy. ”
Brown and Darling seem to think that this ‘biggest budget deficit‘ is an answer to the recession.
But it is a problem which is just as big as the recession itself.
New Labour haven’t sorted out the recession problems. They have simply switched the problem with the UK economy to one of massive debt!!
And guess who has to pay that back!!
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